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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
+5.81%
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
$435M
AUM Growth
-$49.6M
Cap. Flow
-$66.7M
Cap. Flow %
-15.33%
Top 10 Hldgs %
66.88%
Holding
44
New
7
Increased
9
Reduced
22
Closed
4

Top Buys

Rank Stock Value
1
QFIN icon
Qfin Holdings
QFIN
+$7.65M
2
LEGN icon
Legend Biotech
LEGN
+$6.19M
3
MMYT icon
MakeMyTrip
MMYT
+$4.82M
4
FMX icon
Fomento Económico Mexicano
FMX
+$3.48M
5
FUTU icon
Futu Holdings
FUTU
+$2.32M

Top Sells

Rank Stock Value
1
SE icon
Sea Limited
SE
+$14.6M
2
PDD icon
Pinduoduo
PDD
+$13.9M
3
CPNG icon
Coupang
CPNG
+$11.1M
4
HDB icon
HDFC Bank
HDB
+$10.4M
5
YMM icon
Full Truck Alliance
YMM
+$6.91M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 42.33%
2 Technology 18.95%
3 Communication Services 12.59%
4 Healthcare 10.56%
5 Financials 10.53%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PDD icon
1
Pinduoduo
PDD
$131B
$52.3M 12.04%
500,026
-132,400
-21% -$13.9M
SE icon
2
Sea Limited
SE
$69.5B
$51.1M 11.75%
319,281
-100,973
-24% -$14.6M
LEGN icon
3
Legend Biotech
LEGN
$4.01B
$45.9M 10.56%
1,293,052
+191,165
+17% +$6.19M
YMM icon
4
Full Truck Alliance
YMM
$9.99B
$35.2M 8.09%
2,979,832
-593,743
-17% -$6.91M
TCOM icon
5
Trip.com Group
TCOM
$29.1B
$22.6M 5.19%
384,874
-71,006
-16% -$4.27M
GRAB icon
6
Grab
GRAB
$14.9B
$18.5M 4.24%
3,668,786
+46,549
+1% +$217K
MMYT icon
7
MakeMyTrip
MMYT
$5.64B
$18M 4.14%
183,815
+47,835
+35% +$4.82M
BZ icon
8
Kanzhun
BZ
$7.36B
$17M 3.9%
951,390
-123,052
-11% -$2.07M
TME icon
9
Tencent Music
TME
$15.6B
$15.8M 3.63%
810,263
+10,383
+1% +$163K
YUMC icon
10
Yum China
YUMC
$16.3B
$14.5M 3.33%
323,966
-146,876
-31% -$6.57M
BEKE icon
11
KE Holdings
BEKE
$18.8B
$14.4M 3.32%
812,915
-222,751
-22% -$4.28M
ZH
12
Zhihu
ZH
$279M
$14.2M 3.27%
3,574,638
-78,119
-2% -$303K
IBN icon
13
ICICI Bank
IBN
$108B
$12.9M 2.98%
384,649
-201,073
-34% -$6.65M
CPNG icon
14
Coupang
CPNG
$29.2B
$12.6M 2.9%
420,857
-431,342
-51% -$11.1M
QFIN icon
15
Qfin Holdings
QFIN
$1.61B
$11.8M 2.72%
273,141
+183,525
+205% +$7.65M
TSM icon
16
TSMC
TSM
$2.18T
$10.5M 2.42%
46,452
+1,662
+4% +$308K
HDB icon
17
HDFC Bank
HDB
$121B
$9.11M 2.1%
237,672
-286,116
-55% -$10.4M
NTES icon
18
NetEase
NTES
$84.7B
$7.69M 1.77%
57,127
+14,277
+33% +$1.64M
ITUB icon
19
Itaú Unibanco
ITUB
$87.5B
$7.65M 1.76%
1,160,661
+116,524
+11% +$710K
ATAT icon
20
Atour Lifestyle Holdings
ATAT
$4.8B
$6.4M 1.47%
196,750
-22,594
-10% -$642K
ACMR icon
21
ACM Research
ACMR
$5.79B
$5.73M 1.32%
221,295
-26,931
-11% -$606K
MELI icon
22
Mercado Libre
MELI
$92.3B
$4.39M 1.01%
1,681
+202
+14% +$472K
MU icon
23
Micron Technology
MU
$991B
$3.92M 0.9%
31,811
-12,229
-28% -$1.14M
FMX icon
24
Fomento Económico Mexicano
FMX
$41.7B
$3.47M 0.8%
+33,679
New +$3.48M
FUTU icon
25
Futu Holdings
FUTU
$15.3B
$2.81M 0.65%
+22,731
New +$2.32M
1
2

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DIGDR
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PPC
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BCM
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DP
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Matthews International Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Matthews International Capital Management held 44 positions worth $435M, down 10% from $484M the previous quarter. Its ten largest holdings account for 67% of the portfolio.

Matthews International Capital Management withdrew a net $66.7M in Q2 2025, closing 4 positions and reducing 22 holdings. Its most notable exit was Alibaba, an estimated $2.88M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 42% of assets, down from 48% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Matthews International Capital Management opened a new position in Fomento Económico Mexicano worth $3.47M.

  • Matthews International Capital Management's largest Q2 2025 buy was Fomento Económico Mexicano: 33,679 shares worth $3.47M.
  • Matthews International Capital Management added most to Qfin Holdings in Q2 2025, an estimated $7.65M increase.
  • Matthews International Capital Management's biggest Q2 2025 reduction was Sea Limited, cutting an estimated $14.6M.
  • Matthews International Capital Management fully exited Alibaba in Q2 2025, selling an estimated $2.88M.
  • Matthews International Capital Management's ten largest holdings make up 67% of its $435M portfolio in Q2 2025.
  • Matthews International Capital Management opened 7 new positions and closed 4 in Q2 2025.
  • Matthews International Capital Management's portfolio value fell 10% quarter-over-quarter to $435M.

Based on Matthews International Capital Management's 13F filing for Q2 2025, filed 21 Jul 2025.