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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
+9.83%
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
$712M
AUM Growth
-$115M
Cap. Flow
-$146M
Cap. Flow %
-20.46%
Top 10 Hldgs %
78.77%
Holding
39
New
1
Increased
9
Reduced
26
Closed
3

Top Buys

Rank Stock Value
1
BZ icon
Kanzhun
BZ
+$20.6M
2
NVDA icon
NVIDIA
NVDA
+$11.5M
3
AMAT icon
Applied Materials
AMAT
+$8.86M
4
TME icon
Tencent Music
TME
+$8.52M
5
ZH
Zhihu
ZH
+$5M

Top Sells

Rank Stock Value
1
PDD icon
Pinduoduo
PDD
+$47M
2
YUMC icon
Yum China
YUMC
+$34.2M
3
BEKE icon
KE Holdings
BEKE
+$27.8M
4
BABA icon
Alibaba
BABA
+$21.6M
5
LEGN icon
Legend Biotech
LEGN
+$19.9M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 32.81%
2 Technology 25.63%
3 Communication Services 16.05%
4 Real Estate 14.05%
5 Healthcare 7.37%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PDD icon
1
Pinduoduo
PDD
$131B
$104M 14.57%
708,584
-387,654
-35% -$47M
BEKE icon
2
KE Holdings
BEKE
$18.8B
$100M 14.05%
6,169,695
-1,799,618
-23% -$27.8M
YUMC icon
3
Yum China
YUMC
$16.3B
$83.7M 11.76%
1,972,051
-735,143
-27% -$34.2M
YMM icon
4
Full Truck Alliance
YMM
$9.99B
$62.9M 8.84%
8,970,883
-148,646
-2% -$1.05M
LEGN icon
5
Legend Biotech
LEGN
$4.01B
$48.7M 6.84%
809,574
-314,254
-28% -$19.9M
TME icon
6
Tencent Music
TME
$15.6B
$40.8M 5.73%
4,523,020
+1,101,370
+32% +$8.52M
BZ icon
7
Kanzhun
BZ
$7.36B
$35.4M 4.98%
2,132,656
+1,309,699
+159% +$20.6M
TSM icon
8
TSMC
TSM
$2.18T
$34.6M 4.87%
332,973
-55,177
-14% -$5.26M
ZH
9
Zhihu
ZH
$279M
$28.9M 4.05%
5,136,303
+841,168
+20% +$5M
NVDA icon
10
NVIDIA
NVDA
$5.42T
$22M 3.1%
445,180
+248,050
+126% +$11.5M
TCOM icon
11
Trip.com Group
TCOM
$29.1B
$21.8M 3.07%
606,737
-215,053
-26% -$7.33M
ACMR icon
12
ACM Research
ACMR
$5.79B
$13.5M 1.9%
690,857
-55,244
-7% -$966K
ASML icon
13
ASML
ASML
$669B
$12.1M 1.7%
15,949
+7,467
+88% +$4.93M
AMAT icon
14
Applied Materials
AMAT
$428B
$11.8M 1.66%
72,896
+60,323
+480% +$8.86M
MNSO icon
15
MINISO
MNSO
$3.75B
$9.54M 1.34%
467,787
-92,159
-16% -$2.21M
NTES icon
16
NetEase
NTES
$84.7B
$9.21M 1.29%
98,850
-33,909
-26% -$3.6M
MU icon
17
Micron Technology
MU
$991B
$8.26M 1.16%
96,756
-763
-0.8% -$56.7K
AVGO icon
18
Broadcom
AVGO
$2.04T
$7.43M 1.04%
66,590
-132,200
-67% -$12.5M
MLCO icon
19
Melco Resorts & Entertainment
MLCO
$2.14B
$7.04M 0.99%
793,176
-400,863
-34% -$3.27M
NU icon
20
Nu Holdings
NU
$66.9B
$6.89M 0.97%
827,396
+614,859
+289% +$4.97M
HDB icon
21
HDFC Bank
HDB
$121B
$5.59M 0.79%
166,548
+62,568
+60% +$1.89M
LRCX icon
22
Lam Research
LRCX
$390B
$5.49M 0.77%
70,050
-840
-1% -$57.2K
BABA icon
23
Alibaba
BABA
$308B
$5.13M 0.72%
66,206
-271,631
-80% -$21.6M
IBN icon
24
ICICI Bank
IBN
$108B
$4.69M 0.66%
196,764
+92,950
+90% +$2.14M
ONC
25
BeOne Medicines Ltd
ONC
$39.4B
$3.77M 0.53%
20,902
-39,988
-66% -$7.23M
1
2

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Matthews International Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Matthews International Capital Management held 39 positions worth $712M, down 14% from $827M the previous quarter. Its ten largest holdings account for 79% of the portfolio.

Matthews International Capital Management withdrew a net $146M in Q4 2023, closing 3 positions and reducing 26 holdings. Its most notable exit was Sea Limited, an estimated $12.8M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 33% of assets, down from 43% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Matthews International Capital Management opened a new position in New Oriental worth $3.45M.

  • Matthews International Capital Management's largest Q4 2023 buy was New Oriental: 47,043 shares worth $3.45M.
  • Matthews International Capital Management added most to Kanzhun in Q4 2023, an estimated $20.6M increase.
  • Matthews International Capital Management's biggest Q4 2023 reduction was Pinduoduo, cutting an estimated $47M.
  • Matthews International Capital Management fully exited Sea Limited in Q4 2023, selling an estimated $12.8M.
  • Matthews International Capital Management's ten largest holdings make up 79% of its $712M portfolio in Q4 2023.
  • Matthews International Capital Management opened 1 new position and closed 3 in Q4 2023.
  • Matthews International Capital Management's portfolio value fell 14% quarter-over-quarter to $712M.

Based on Matthews International Capital Management's 13F filing for Q4 2023, filed 17 Jan 2024.