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MICM

Matthews International Capital Management Portfolio holdings

AUM $292M
1-Year Est. Return 75.01%
This Fund
S&P 500
This Quarter Est. Return
-8.36%
1 Year Est. Return
+75.01%
3 Year Est. Return
+227.44%
5 Year Est. Return
+185.21%
10 Year Est. Return
+1,024.3%
AUM
$329M
AUM Growth
-$100M
Cap. Flow
-$49.7M
Cap. Flow %
-15.08%
Top 10 Hldgs %
60.74%
Holding
42
New
3
Increased
10
Reduced
24
Closed
2

Top Buys

Rank Stock Value
1
FUTU icon
Futu Holdings
FUTU
+$17.7M
2
NU icon
Nu Holdings
NU
+$4.76M
3
HDB icon
HDFC Bank
HDB
+$4.56M
4
VALE icon
Vale
VALE
+$1.61M
5
ZTO icon
ZTO Express
ZTO
+$1.4M

Top Sells

Rank Stock Value
1
PDD icon
Pinduoduo
PDD
+$15.3M
2
TCOM icon
Trip.com Group
TCOM
+$8.35M
3
TME icon
Tencent Music
TME
+$8.28M
4
BEKE icon
KE Holdings
BEKE
+$7.91M
5
YMM icon
Full Truck Alliance
YMM
+$6.66M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 38.58%
2 Financials 21.5%
3 Technology 16.81%
4 Communication Services 9.77%
5 Healthcare 6.31%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FMX icon
26
Fomento Económico Mexicano
FMX
$40B
$3.16M 0.96%
31,291
+238
+0.8% +$23.1K
CYD icon
27
China Yuchai International
CYD
$1.76B
$2.2M 0.67%
61,869
+6,995
+13% +$255K
VALE icon
28
Vale
VALE
$61.4B
$1.73M 0.52%
+132,432
New +$1.61M
XP icon
29
XP
XP
$7.98B
$1.67M 0.51%
101,999
-218,054
-68% -$3.84M
ZTO icon
30
ZTO Express
ZTO
$17.6B
$1.48M 0.45%
+70,800
New +$1.4M
BVN icon
31
Compañía de Minas Buenaventura
BVN
$8.79B
$615K 0.19%
22,089
-1,729
-7% -$43.1K
GLOB icon
32
Globant
GLOB
$1.67B
$387K 0.12%
+5,919
New +$372K
FCX icon
33
Freeport-McMoran
FCX
$96.9B
$373K 0.11%
7,353
– –
KSPI icon
34
Kaspi.kz JSC
KSPI
$18.9B
$216K 0.07%
2,762
-72
-3% -$5.44K
ADVE icon
35
Matthews Asia Dividend Active ETF
ADVE
$9.35M
$196K 0.06%
5,000
– –
MKOR icon
36
Matthews Korea Active ETF
MKOR
$140M
$173K 0.05%
5,032
– –
SKM icon
37
SK Telecom
SKM
$13.5B
$51.1K 0.02%
2,491
+835
+50% +$17.1K
TUYA
38
Tuya Inc
TUYA
$1.1B
$18K 0.01%
8,553
-695,556
-99% -$1.59M
CHA
39
Chagee Holdings Ltd
CHA
$1.91B
$8.12K ﹤0.01%
698
-52,958
-99% -$787K
JD icon
40
JD.com
JD
$42.7B
– –
-11,165
Closed -$391K
MELI icon
41
Mercado Libre
MELI
$92.7B
– –
-1,645
Closed -$3.84M
1
2

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DIGDR
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PPC
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DP
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EPIME
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OCM
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ECM
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Matthews International Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Matthews International Capital Management held 42 positions worth $329M, down 23% from $429M the previous quarter. Its ten largest holdings account for 61% of the portfolio.

Matthews International Capital Management withdrew a net $49.7M in Q4 2025, closing 2 positions and reducing 24 holdings. Its most notable exit was Mercado Libre, an estimated $3.84M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 39% of assets, down from 45% a quarter earlier, followed by Financials and Technology.

Against the trend, Matthews International Capital Management opened a new position in Vale worth $1.73M.

  • Matthews International Capital Management's largest Q4 2025 buy was Vale: 132,432 shares worth $1.73M.
  • Matthews International Capital Management added most to Futu Holdings in Q4 2025, an estimated $17.7M increase.
  • Matthews International Capital Management's biggest Q4 2025 reduction was Pinduoduo, cutting an estimated $15.3M.
  • Matthews International Capital Management fully exited Mercado Libre in Q4 2025, selling an estimated $3.84M.
  • Matthews International Capital Management's ten largest holdings make up 61% of its $329M portfolio in Q4 2025.
  • Matthews International Capital Management opened 3 new positions and closed 2 in Q4 2025.
  • Matthews International Capital Management's portfolio value fell 23% quarter-over-quarter to $329M.

Based on Matthews International Capital Management's 13F filing for Q4 2025, filed 29 Jan 2026.