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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
+12.61%
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
$484M
AUM Growth
-$4.82M
Cap. Flow
-$51.7M
Cap. Flow %
-10.67%
Top 10 Hldgs %
71.18%
Holding
43
New
1
Increased
16
Reduced
18
Closed
6

Top Buys

Rank Stock Value
1
IBN icon
ICICI Bank
IBN
+$11.1M
2
HDB icon
HDFC Bank
HDB
+$7.52M
3
ITUB icon
Itaú Unibanco
ITUB
+$4.52M
4
JD icon
JD.com
JD
+$4.15M
5
CPNG icon
Coupang
CPNG
+$3.71M

Top Sells

Rank Stock Value
1
TSM icon
TSMC
TSM
+$29.2M
2
YUMC icon
Yum China
YUMC
+$13.5M
3
MMYT icon
MakeMyTrip
MMYT
+$10.8M
4
BILI icon
Bilibili
BILI
+$6.36M
5
AVGO icon
Broadcom
AVGO
+$6.24M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 47.87%
2 Technology 18.44%
3 Communication Services 10.77%
4 Financials 9.98%
5 Healthcare 7.72%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PDD icon
1
Pinduoduo
PDD
$131B
$74.8M 15.45%
632,426
-35,528
-5% -$4.08M
SE icon
2
Sea Limited
SE
$69.5B
$54.8M 11.32%
420,254
+18,255
+5% +$2.26M
YMM icon
3
Full Truck Alliance
YMM
$9.99B
$45.6M 9.42%
3,573,575
+284,533
+9% +$3.43M
LEGN icon
4
Legend Biotech
LEGN
$4.01B
$37.4M 7.72%
1,101,887
-83,629
-7% -$3M
TCOM icon
5
Trip.com Group
TCOM
$29.1B
$29M 5.98%
455,880
+11,516
+3% +$754K
YUMC icon
6
Yum China
YUMC
$16.3B
$24.5M 5.06%
470,842
-282,082
-37% -$13.5M
BEKE icon
7
KE Holdings
BEKE
$18.8B
$20.8M 4.3%
1,035,666
+81,020
+8% +$1.61M
BZ icon
8
Kanzhun
BZ
$7.36B
$20.6M 4.25%
1,074,442
+226,152
+27% +$3.68M
CPNG icon
9
Coupang
CPNG
$29.2B
$18.7M 3.86%
852,199
+159,811
+23% +$3.71M
IBN icon
10
ICICI Bank
IBN
$108B
$18.5M 3.81%
585,722
+384,197
+191% +$11.1M
HDB icon
11
HDFC Bank
HDB
$121B
$17.4M 3.59%
523,788
+246,644
+89% +$7.52M
GRAB icon
12
Grab
GRAB
$14.9B
$16.4M 3.39%
3,622,237
-1,251,930
-26% -$5.84M
ZH
13
Zhihu
ZH
$279M
$15.6M 3.22%
3,652,757
-589,480
-14% -$2.57M
MMYT icon
14
MakeMyTrip
MMYT
$5.64B
$13.3M 2.75%
135,980
-104,771
-44% -$10.8M
TME icon
15
Tencent Music
TME
$15.6B
$11.5M 2.38%
799,880
+42,923
+6% +$536K
TSM icon
16
TSMC
TSM
$2.18T
$7.44M 1.54%
44,790
-150,453
-77% -$29.2M
INFY icon
17
Infosys
INFY
$50.7B
$6.32M 1.3%
346,180
+79,910
+30% +$1.66M
ATAT icon
18
Atour Lifestyle Holdings
ATAT
$4.8B
$6.22M 1.28%
219,344
-3,474
-2% -$99.2K
ACMR icon
19
ACM Research
ACMR
$5.79B
$5.79M 1.2%
248,226
-14,225
-5% -$325K
ITUB icon
20
Itaú Unibanco
ITUB
$87.5B
$5.58M 1.15%
1,044,137
+898,885
+619% +$4.52M
JD icon
21
JD.com
JD
$44.5B
$4.68M 0.97%
113,931
+103,328
+975% +$4.15M
NTES icon
22
NetEase
NTES
$84.7B
$4.41M 0.91%
42,850
-46,800
-52% -$4.71M
QFIN icon
23
Qfin Holdings
QFIN
$1.61B
$4.02M 0.83%
+89,616
New +$3.71M
MU icon
24
Micron Technology
MU
$991B
$3.83M 0.79%
44,040
-26,965
-38% -$2.59M
MELI icon
25
Mercado Libre
MELI
$92.3B
$2.89M 0.6%
1,479
+1,110
+301% +$2.2M
1
2

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LFC
LCC Family Corp Toronto $292M AUM 47.92% 1-Year Est. Return
FPM
Francisco Partners Management San Francisco, California $292M AUM 34.13% 1-Year Est. Return
DIGDR
Dynamo Internacional Gestao de Recursos Rio De Janeiro, Brazil $292M AUM 6.08% 1-Year Est. Return
PPC
Pennington Partners & Co Bethesda, Maryland $292M AUM 14.64% 1-Year Est. Return
BCM
Barometer Capital Management Toronto, Ontario, Canada $292M AUM 86.78% 1-Year Est. Return
DP
Denver PWM Denver, Colorado $291M AUM 12.15% 1-Year Est. Return
NC
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EPIME
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Matthews International Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Matthews International Capital Management held 43 positions worth $484M, down 0.99% from $489M the previous quarter. Its ten largest holdings account for 71% of the portfolio.

Matthews International Capital Management withdrew a net $51.7M in Q1 2025, closing 6 positions and reducing 18 holdings. Its most notable exit was Bilibili, an estimated $6.36M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 48% of assets, up from 46% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Matthews International Capital Management opened a new position in Qfin Holdings worth $4.02M.

  • Matthews International Capital Management's largest Q1 2025 buy was Qfin Holdings: 89,616 shares worth $4.02M.
  • Matthews International Capital Management added most to ICICI Bank in Q1 2025, an estimated $11.1M increase.
  • Matthews International Capital Management's biggest Q1 2025 reduction was TSMC, cutting an estimated $29.2M.
  • Matthews International Capital Management fully exited Bilibili in Q1 2025, selling an estimated $6.36M.
  • Matthews International Capital Management's ten largest holdings make up 71% of its $484M portfolio in Q1 2025.
  • Matthews International Capital Management opened 1 new position and closed 6 in Q1 2025.
  • Matthews International Capital Management's portfolio value fell 0.99% quarter-over-quarter to $484M.

Based on Matthews International Capital Management's 13F filing for Q1 2025, filed 21 Apr 2025.