We are live on ! Find out more
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
PDD icon
1
Pinduoduo
PDD
$131B
$42M 12.76%
370,640
-123,162
-25% -$15.3M
FUTU icon
2
Futu Holdings
FUTU
$15.3B
$24.8M 7.52%
150,906
+102,918
+214% +$17.7M
SE icon
3
Sea Limited
SE
$69.5B
$22.9M 6.94%
179,241
-33,985
-16% -$5.03M
LEGN icon
4
Legend Biotech
LEGN
$4.01B
$20.8M 6.31%
956,824
-71,623
-7% -$2.05M
TCOM icon
5
Trip.com Group
TCOM
$29.1B
$19.5M 5.92%
271,342
-116,803
-30% -$8.35M
BZ icon
6
Kanzhun
BZ
$7.36B
$16.9M 5.13%
829,409
-200,402
-19% -$4.33M
YUMC icon
7
Yum China
YUMC
$16.3B
$14.9M 4.52%
312,126
+836
+0.3% +$38.3K
YMM icon
8
Full Truck Alliance
YMM
$9.99B
$13.9M 4.22%
1,296,189
-555,249
-30% -$6.66M
HDB icon
9
HDFC Bank
HDB
$121B
$12.6M 3.81%
343,916
+126,650
+58% +$4.56M
GRAB icon
10
Grab
GRAB
$14.9B
$11.8M 3.59%
2,367,470
-748,562
-24% -$4.14M
IBN icon
11
ICICI Bank
IBN
$108B
$11M 3.34%
369,492
-281
-0.1% -$8.62K
MMYT icon
12
MakeMyTrip
MMYT
$5.64B
$10.4M 3.15%
126,471
-53,650
-30% -$4.4M
TSM icon
13
TSMC
TSM
$2.18T
$9.95M 3.02%
32,727
-3,408
-9% -$1,000K
CPNG icon
14
Coupang
CPNG
$29.2B
$8.73M 2.65%
369,975
-93,614
-20% -$2.66M
ITUB icon
15
Itaú Unibanco
ITUB
$87.5B
$8.23M 2.5%
1,149,948
+5,933
+0.5% +$42.2K
MU icon
16
Micron Technology
MU
$991B
$7.91M 2.4%
27,726
-8,618
-24% -$1.98M
ZH
17
Zhihu
ZH
$279M
$7.78M 2.36%
2,371,187
-527,378
-18% -$2.11M
ACMR icon
18
ACM Research
ACMR
$5.79B
$7.39M 2.24%
187,250
-16,261
-8% -$606K
NU icon
19
Nu Holdings
NU
$66.9B
$7.23M 2.2%
432,150
+296,385
+218% +$4.76M
ATAT icon
20
Atour Lifestyle Holdings
ATAT
$4.8B
$6.46M 1.96%
163,989
-31,750
-16% -$1.24M
QFIN icon
21
Qfin Holdings
QFIN
$1.61B
$5.34M 1.62%
277,149
-45,699
-14% -$1.03M
BEKE icon
22
KE Holdings
BEKE
$18.8B
$4.25M 1.29%
269,393
-460,293
-63% -$7.91M
TME icon
23
Tencent Music
TME
$15.6B
$4.17M 1.27%
238,068
-408,285
-63% -$8.28M
LRCX icon
24
Lam Research
LRCX
$390B
$3.78M 1.15%
22,105
-644
-3% -$100K
NTES icon
25
NetEase
NTES
$84.7B
$3.29M 1%
23,901
+226
+1% +$32.1K
1
2

Similar funds

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
Nixon Capital Austin, Texas $293M AUM 19.56% 1-Year Est. Return
EPIME
Evelyn Partners Investment Management (Europe) Dublin $291M AUM 20.34% 1-Year Est. Return

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.