# EDGAR Filing Document

**Accession Number:** 0000919160
**File Stem:** 0001398344-25-021434
**Filing Date:** 2025-11
**Character Count:** 15132
**Document Hash:** 98cfb22c11362e1c95fa9ad18fd9afff
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-25-021434.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0001398344-25-021434

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251128

**DATE AS OF CHANGE**: 20251128

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GUINNESS ATKINSON FUNDS
- **CENTRAL INDEX KEY:** 0000919160

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08360
- **FILM NUMBER:** 251536312

**BUSINESS ADDRESS:**
- **STREET 1:** 251 SOUTH LAKE AVE
- **STREET 2:** SUITE 800
- **CITY:** PASADENA
- **STATE:** CA
- **ZIP:** 91101
- **BUSINESS PHONE:** 626-914-1041

**MAIL ADDRESS:**
- **STREET 1:** 251 SOUTH LAKE AVE
- **STREET 2:** SUITE 800
- **CITY:** PASADENA
- **STATE:** CA
- **ZIP:** 91101

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INVESTEC FUNDS
- **DATE OF NAME CHANGE:** 20000927

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GUINNESS FLIGHT INVESTMENT FUNDS
- **DATE OF NAME CHANGE:** 19970506

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GUINNESS FLIGHT INVESTMENT FUNDS INC
- **DATE OF NAME CHANGE:** 19940217

## Series and Classes Contracts Data

### Guinness Atkinson Asia Focus Fund (Series ID: S000005893)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000016117 | Guinness Atkinson Asia Focus Fund | IASMX           |

## Nport-Ex

**GUINNESS ATKINSON ASIA FOCUS FUND** 

**Schedule of Investments** 

**at September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Shares** | **Common Stocks: 99.8%** | **Value** |
|  | **Australia: 5.0%** |  |
| 34519 | Corporate Travel Management Ltd. | $311940 |
| 19149 | Sonic Healthcare Ltd. | 271602 |
|  |  | 583542 |
|  | **China: 62.4%** |  |
| 22600 | Alibaba Group Holding Ltd. | 514039 |
| 600 | Alibaba Group Holding Ltd. - ADR | 107238 |
| 12300 | Autohome Inc. - ADR | 351165 |
| 3400 | Baidu Inc. - ADR\* | 448018 |
| 207000 | China Medical System Holdings Ltd. | 372137 |
| 55500 | China Merchants Bank Co., Ltd. - H Shares | 333489 |
| 164000 | Geely Automobile Holdings Ltd. | 412007 |
| 111000 | Haitian International Holdings Ltd. | 305817 |
| 83400 | Inner Mongolia Yili Industrial Group Co., Ltd. - A Shares | 319174 |
| 11260 | JD.com Inc. - ADR | 393875 |
| 30000 | Meituan - Class B\* | 402858 |
| 111909 | NARI Technology Co., Ltd. - A Shares | 360458 |
| 3400 | NetEase Inc. - ADR | 516766 |
| 49000 | Ping An Insurance Group Company of China Ltd. - H Shares | 334038 |
| 29900 | Proya Cosmetics Co., Ltd. | 338880 |
| 143200 | Sany Heavy Industry Co., Ltd. - A Shares | 466870 |
| 44600 | Shenzhou International | 353332 |
| 377000 | Sino Biopharmaceutical Ltd. | 394349 |
| 6400 | Tencent Holdings Ltd. | 545265 |
|  |  | 7269775 |
|  | **India: 2.8%** |  |
| 9400 | HDFC Bank Ltd | 321104 |
|  | **Singapore: 3.9%** |  |
| 11618 | DBS Group Holdings Ltd. | 460703 |
|  | **South Korea: 4.3%** |  |
| 8350 | Samsung Electronics Co., Ltd. | 498825 |
|  | **Taiwan: 15.1%** |  |
| 10000 | Elite Material Co., Ltd. | 402239 |
| 4000 | Largan Precision Co., Ltd. | 308657 |
| 48000 | Shin Zu Shing Co., Ltd. | 409792 |
| 15000 | Taiwan Semiconductor Manufacturing Co., Ltd. | 642762 |
|  |  | 1763450 |

---

**GUINNESS ATKINSON ASIA FOCUS FUND** 

**Schedule of Investments** 

**at September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Shares** | **Common Stocks: 99.8%** | **Value** |
| | **United States: 6.3%** | |
| 1900 | Applied Materials Inc. | $389006 |
| 1043 | Broadcom Inc. | 344096 |
|  |  | 733102 |
|  | **Total Common Stocks** | 11630501 |
|  | (cost $7,809,795) |  |
|  | **Total Investments in Securities** | 11630501 |
|  | (cost $7,809,795): 99.8% |  |
|  | Other Assets in Excess of Liabilities: 0.2% | 18714 |
|  | **Net Assets: 100.0%** | $**11649215** |

---

*\** *Non-income producing security.*

*ADR - American Depository Receipt*

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** GUINNESS ATKINSON FUNDS

- **b. Investment Company Act file number:** 811-08360

- **c. CIK number of Registrant:** 0000919160

- **d. LEI of Registrant:** 54930097560RK2KMX577

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 251 South Lake Ave

  - **City:** Pasadena

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 91101

  - **Telephone number:** 626-914-1041

**Item A.2. Information about the Series.**

- **a. Name of Series:** Guinness Atkinson Asia Focus Fund

- **b. EDGAR series identifier (if any):** S000005893

- **c. LEI of Series:** 549300B83EIJXRDORS90

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $11914595.94

**Total Liabilities:** $271447.52

**Net Assets:** $11643148.42

**Cash Not Reported:** $152676.55

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000016117 | 6.68%                | 2.02%                | 5.16%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $83160.34                | $634286.68                                 |
| Month 2  | $112952.68               | $91698.16                                  |
| Month 3  | $193379.32               | $353342.81                                 |

### Schedule of Portfolio Investments

| Name                                     | Title        | Identifiers                  | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ALIBABA GROUP HOLDING LT /HKD/           | COMMON STOCK | CUSIP: G01719114<br>LEI: N/A | Long             | EC               | CORP              | KY        |     22600 | NS      | $514038.99    | 4.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ALIBABA GROUP HOLDING-SP ADR             | COMMON STOCK | CUSIP: 01609W102<br>LEI: N/A | Long             | EC               | CORP              | KY        |       600 | NS      | $107238.00    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED MATERIALS INC                    | COMMON STOCK | CUSIP: 038222105<br>LEI: N/A | Long             | EC               | CORP              | US        |      1900 | NS      | $389006.00    | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTOHOME INC-ADR                         | COMMON STOCK | CUSIP: 05278C107<br>LEI: N/A | Long             | EC               | CORP              | KY        |     12300 | NS      | $351165.00    | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BAIDU INC                                | COMMON STOCK | CUSIP: 056752108<br>LEI: N/A | Long             | EC               | CORP              | KY        |      3400 | NS      | $448018.00    | 3.85%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC                             | COMMON STOCK | CUSIP: 11135F101<br>LEI: N/A | Long             | EC               | CORP              | US        |      1043 | NS      | $344096.13    | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA MEDICAL SYSTEM HOL /HKD/           | COMMON STOCK | CUSIP: G21108124<br>LEI: N/A | Long             | EC               | CORP              | KY        |    207000 | NS      | $372136.62    | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA MERCHANTS BANK-H /HKD/             | COMMON STOCK | CUSIP: Y14896115<br>LEI: N/A | Long             | EC               | CORP              | CN        |     55500 | NS      | $333489.25    | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| CORPORATE TRAVEL MANAGEM /AUD/           | COMMON STOCK | CUSIP: Q2909K105<br>LEI: N/A | Long             | EC               | CORP              | AU        |     34519 | NS      | $311940.35    | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| DBS GROUP HOLDINGS LTD /SGD/             | COMMON STOCK | CUSIP: Y20246107<br>LEI: N/A | Long             | EC               | CORP              | SG        |     11618 | NS      | $460702.92    | 3.96%             |  |  |  | No            |                  1 | On Loan: No      |
| ELITE MATERIAL CO LTD /TWD/              | COMMON STOCK | CUSIP: Y2290G102<br>LEI: N/A | Long             | EC               | CORP              | TW        |     10000 | NS      | $402239.41    | 3.45%             |  |  |  | No            |                  1 | On Loan: No      |
| GEELY AUTOMOBILE HOLDING /HKD/           | COMMON STOCK | CUSIP: G3777B103<br>LEI: N/A | Long             | EC               | CORP              | KY        |    164000 | NS      | $412007.35    | 3.54%             |  |  |  | No            |                  1 | On Loan: No      |
| HAITIAN INTERNATIONAL HOLDINGS LTD /HKD/ | COMMON STOCK | CUSIP: G4232C108<br>LEI: N/A | Long             | EC               | CORP              | KY        |    111000 | NS      | $305817.35    | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC BANK LTD-ADR                        | COMMON STOCK | CUSIP: 40415F101<br>LEI: N/A | Long             | EC               | CORP              | IN        |      9400 | NS      | $321104.00    | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| INNER MONGOLIA YILI INDU /CNY/           | COMMON STOCK | CUSIP: Y40847108<br>LEI: N/A | Long             | EC               | CORP              | CN        |     83400 | NS      | $319173.99    | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| JD.COM INC-ADR                           | COMMON STOCK | CUSIP: 47215P106<br>LEI: N/A | Long             | EC               | CORP              | KY        |     11260 | NS      | $393874.80    | 3.38%             |  |  |  | No            |                  1 | On Loan: No      |
| LARGAN PRECISION CO LTD /TWD/            | COMMON STOCK | CUSIP: Y52144105<br>LEI: N/A | Long             | EC               | CORP              | TW        |      4000 | NS      | $308657.18    | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| MEITUAN-CLASS B /HKD/                    | COMMON STOCK | CUSIP: G59669104<br>LEI: N/A | Long             | EC               | CORP              | KY        |     30000 | NS      | $402857.91    | 3.46%             |  |  |  | Yes           |                  1 | On Loan: No      |
| NARI TECHNOLOGY DEVELOPM /CNY/           | COMMON STOCK | CUSIP: Y2959R100<br>LEI: N/A | Long             | EC               | CORP              | CN        |    111909 | NS      | $360457.43    | 3.10%             |  |  |  | No            |                  1 | On Loan: No      |
| NETEASE INC-ADR                          | COMMON STOCK | CUSIP: 64110W102<br>LEI: N/A | Long             | EC               | CORP              | KY        |      3400 | NS      | $516766.00    | 4.44%             |  |  |  | No            |                  1 | On Loan: No      |
| PING AN INSURANCE GROUP  /HKD/           | COMMON STOCK | CUSIP: Y69790106<br>LEI: N/A | Long             | EC               | CORP              | CN        |     49000 | NS      | $334037.96    | 2.87%             |  |  |  | No            |                  1 | On Loan: No      |
| PROYA COSMETICS CO LTD A /CNH/           | COMMON STOCK | CUSIP: Y7S88X100<br>LEI: N/A | Long             | EC               | CORP              | CN        |     29900 | NS      | $338879.95    | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| SAMSUNG ELECTRONICS CO L /KRW/           | COMMON STOCK | CUSIP: Y74718100<br>LEI: N/A | Long             | EC               | CORP              | KR        |      8350 | NS      | $498825.15    | 4.28%             |  |  |  | No            |                  1 | On Loan: No      |
| SANY HEAVY INDUSTRY CO L /CNY/           | COMMON STOCK | CUSIP: Y75268105<br>LEI: N/A | Long             | EC               | CORP              | CN        |    143200 | NS      | $466870.27    | 4.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SHENZHOU INTERNATIONAL G /HKD/           | COMMON STOCK | CUSIP: G8087W101<br>LEI: N/A | Long             | EC               | CORP              | KY        |     44600 | NS      | $353331.45    | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SHIN ZU SHING CO LTD /TWD/               | COMMON STOCK | CUSIP: Y7755T127<br>LEI: N/A | Long             | EC               | CORP              | TW        |     48000 | NS      | $409791.66    | 3.52%             |  |  |  | No            |                  1 | On Loan: No      |
| SINO BIOPHARMACEUTICAL /HKD/             | COMMON STOCK | CUSIP: G8167W138<br>LEI: N/A | Long             | EC               | CORP              | KY        |    377000 | NS      | $394348.42    | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| SONIC HEALTHCARE LTD /AUD/               | COMMON STOCK | CUSIP: Q8563C107<br>LEI: N/A | Long             | EC               | CORP              | AU        |     19149 | NS      | $271602.36    | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| TAIWAN SEMICONDUCTOR MAN /TWD/           | COMMON STOCK | CUSIP: Y84629107<br>LEI: N/A | Long             | EC               | CORP              | TW        |     15000 | NS      | $642762.15    | 5.52%             |  |  |  | No            |                  1 | On Loan: No      |
| TENCENT HOLDINGS LTD /HKD/               | COMMON STOCK | CUSIP: G87572163<br>LEI: N/A | Long             | EC               | CORP              | KY        |      6400 | NS      | $545265.30    | 4.68%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-28

**Name of Applicant:** GUINNESS ATKINSON FUNDS

**Signature:** /s/ Lyna Phan

**Name of Signer:** Lyna Phan

**Title:** Assistant Treasurer