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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
+6.42%
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
$827M
AUM Growth
-$26.8M
(-3.1%)
Cap. Flow
-$53.4M
Cap. Flow
% of AUM
-6.46%
Top 10 Holdings %
Top 10 Hldgs %
80.09%
Holding
47
New
2
Increased
20
Reduced
16
Closed
9
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Full Truck Alliance
YMM
|
+$18.1M |
| 2 |
Tencent Music
TME
|
+$13.8M |
| 3 |
KE Holdings
BEKE
|
+$13.6M |
| 4 |
MINISO
MNSO
|
+$12.5M |
| 5 |
ZH
Zhihu
ZH
|
+$12.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Yum China
YUMC
|
+$18M |
| 2 |
TSMC
TSM
|
+$17M |
| 3 |
ONC
BeOne Medicines Ltd
ONC
|
+$13.2M |
| 4 |
NVIDIA
NVDA
|
+$12.6M |
| 5 |
Netflix
NFLX
|
+$12.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 43.37% |
| 2 | Technology | 19.16% |
| 3 | Real Estate | 14.96% |
| 4 | Healthcare | 10.46% |
| 5 | Communication Services | 9.93% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Yum China
YUMC
$16.3B
| $151M | 18.25% |
2,707,194
-322,308
| -11% | -$18M |
|
|
2
KE Holdings
BEKE
$18.8B
| $124M | 14.96% |
7,969,313
+855,850
| +12% | +$13.6M |
|
3
Pinduoduo
PDD
$131B
| $108M | 13% |
1,096,238
+107,359
| +11% | +$9.25M |
|
4
Legend Biotech
LEGN
$4.01B
| $75.5M | 9.13% |
1,123,828
+136
| +0% | +$9.45K |
|
|
5
Full Truck Alliance
YMM
$9.99B
| $64.2M | 7.77% |
9,119,529
+2,629,125
| +41% | +$18.1M |
|
|
6
TSMC
TSM
$2.18T
| $33.7M | 4.08% |
388,150
-179,573
| -32% | -$17M |
|
7
Alibaba
BABA
$308B
| $29.3M | 3.54% |
337,837
-111,616
| -25% | -$10.2M |
|
8
Trip.com Group
TCOM
$29.1B
| $28.7M | 3.48% |
821,790
+284,815
| +53% | +$10.7M |
|
|
ZH
9
Zhihu
ZH
$279M
| $26.8M | 3.24% |
4,295,135
+1,871,225
| +77% | +$12.2M |
|
|
10
Tencent Music
TME
$15.6B
| $21.8M | 2.64% |
3,421,650
+2,076,272
| +154% | +$13.8M |
|
11
Broadcom
AVGO
$2.04T
| $16.5M | 2% |
198,790
+55,270
| +39% | +$4.79M |
|
|
12
MINISO
MNSO
$3.75B
| $14.5M | 1.75% |
+559,946
| New | +$12.5M |
|
13
ACM Research
ACMR
$5.79B
| $13.5M | 1.63% |
746,101
-25,076
| -3% | -$373K |
|
14
NetEase
NTES
$84.7B
| $13.3M | 1.61% |
132,759
-30,642
| -19% | -$3.14M |
|
15
Sea Limited
SE
$69.5B
| $12.8M | 1.55% |
292,096
-35,545
| -11% | -$1.74M |
|
16
Kanzhun
BZ
$7.36B
| $12.5M | 1.51% |
822,957
+123,794
| +18% | +$1.94M |
|
17
Melco Resorts & Entertainment
MLCO
$2.14B
| $11.8M | 1.43% |
1,194,039
+849,949
| +247% | +$9.86M |
|
|
ONC
18
BeOne Medicines Ltd
ONC
$39.4B
| $11M | 1.32% |
60,890
-66,847
| -52% | -$13.2M |
|
|
19
NVIDIA
NVDA
$5.42T
| $8.57M | 1.04% |
197,130
-282,080
| -59% | -$12.6M |
|
20
Baidu
BIDU
$37.2B
| $7.67M | 0.93% |
57,059
-1,203
| -2% | -$169K |
|
21
Micron Technology
MU
$991B
| $6.63M | 0.8% |
97,519
-11,119
| -10% | -$745K |
|
22
ASML
ASML
$669B
| $4.99M | 0.6% |
8,482
-17,511
| -67% | -$11.6M |
|
23
Lam Research
LRCX
$390B
| $4.44M | 0.54% |
70,890
-8,090
| -10% | -$531K |
|
24
ZTO Express
ZTO
$17.9B
| $3.27M | 0.4% |
135,442
-27,996
| -17% | -$712K |
|
25
HDFC Bank
HDB
$121B
| $3.07M | 0.37% |
103,980
+19,014
| +22% | +$619K |
|
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Matthews International Capital Management's Q3 2023 Portfolio in Review
As of Q3 2023, Matthews International Capital Management held 47 positions worth $827M, down 3.1% from $854M the previous quarter. Its ten largest holdings account for 80% of the portfolio.
Matthews International Capital Management withdrew a net $53.4M in Q3 2023, closing 9 positions and reducing 16 holdings. Its most notable exit was Netflix, an estimated $12.5M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 43% of assets, up from 41% a quarter earlier, followed by Technology and Real Estate.
Against the trend, Matthews International Capital Management opened a new position in MINISO worth $14.5M.
- Matthews International Capital Management's largest Q3 2023 buy was MINISO: 559,946 shares worth $14.5M.
- Matthews International Capital Management added most to Full Truck Alliance in Q3 2023, an estimated $18.1M increase.
- Matthews International Capital Management's biggest Q3 2023 reduction was Yum China, cutting an estimated $18M.
- Matthews International Capital Management fully exited Netflix in Q3 2023, selling an estimated $12.5M.
- Matthews International Capital Management's ten largest holdings make up 80% of its $827M portfolio in Q3 2023.
- Matthews International Capital Management opened 2 new positions and closed 9 in Q3 2023.
- Matthews International Capital Management's portfolio value fell 3.1% quarter-over-quarter to $827M.
Based on Matthews International Capital Management's 13F filing for Q3 2023, filed 27 Oct 2023.