Matthews International Capital Management LLC 13F Portfolio & Position Changes

CIK: 0001028074

ContrarianHigh-turnover traderQuality / disciplined sizing

Total reported value

$246.5M

Reporting period: 2026-03-31 · Number of holdings: 37

MATTHEWS INTERNATIONAL CAPITAL MANAGEMENT LLC disclosed 37 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $246.5M and a quarterly turnover rate of 82.6%.

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Personality snowflake

Concentration: 19.79
Portfolio Stability: 82.56
Momentum/Contrarian: 0
Sector conviction: 80.31
Diversification: 74
Sizing Uniformity: 90.76

Matthews International Capital Management LLC's disclosed holdings carry a Herfindahl concentration index of 0.049 — mathematically equivalent to about 20 equally-sized positions, well below its 37 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.

Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.92), suggesting a disciplined, rules-based approach to how much capital goes into each idea.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Sector classification currently covers about 64% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.

Recent moves

Add YUMC
+77.8%　$12.2M
Trim SE
-84.0%　-$20.5M
Add TSM
+91.0%　$11.2M
Trim TCOM
-85.4%　-$17.5M
Trim PDD
-46.3%　-$21.7M
Add CYD
+423.7%　$10.3M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	YUMC	Yum China Holdings INC	Stock-Consumer Disc	10.98%	+6.46%	+77.78%
2	TSM	Taiwan Semiconductor-sp Adr	Stock-Tech	8.57%	+5.55%	+91.00%
3	PDD	Pdd Holdings INC	Stock-Consumer Disc	8.25%	-4.51%	-46.33%
4	LEGN	Legend Biotech Corp-adr	Stock-Other	6.80%	+0.49%	-3.23%
5	CYD	China Yuchai International Limited	Stock-Other	5.06%	+4.39%	+423.74%
6	MU	Micron Technology INC	Stock-Tech	3.99%	+1.59%	+5.11%
7	FUTU	Futu Holdings Ltd-adr	Stock-Financials	3.81%	-3.71%	-54.46%
8	BZ	Kanzhun LTD - Adr	Stock-Other	3.78%	-1.35%	-16.01%
9	UMC	United Microelectron-sp Adr	Stock-Other	3.56%	+3.56%	NEW
10	ITUB	Itau Unibanco H-spon Prf Adr	Stock-Financials	3.29%	+0.79%	-15.77%
11	ATAT	Atour Lifestyle Holdings-adr	Stock-Other	3.28%	+1.32%	+33.78%
12	✓	Grupo Financiero Galicia	Stock-Other	3.17%	-0.22%	-19.13%
13	IBN	Icici Bank Ltd-spon Adr	Stock-Financials	3.12%	-0.22%	-19.67%
14	NU	Nu Holdings Ltd.	Stock-Financials	2.95%	+0.75%	+17.03%
15	HDB	Hdfc Bank Ltd-adr	Stock-Financials	2.89%	-0.92%	-16.65%
16	LRCXEUR	Lam Research CORP	Stock-Tech	2.44%	+1.29%	+27.28%
17	PBR	Petroleo Brasileiro-spon Adr	Stock-Energy	2.40%	+2.40%	NEW
18	ACMR	Acm Research Inc-class A	Stock-Other	2.22%	-0.02%	-25.87%
19	FCX	Freeport-mcmoran INC	Stock-Materials	2.10%	+1.99%	+1095.92%
20	GRAB	Grab Holdings Limited	Stock-Tech	1.89%	-1.70%	-46.23%
21	BVN	Cia De Minas Buenaventur-adr	Stock-Other	1.89%	+1.70%	+483.94%
22	BAP	Credicorp Ltd.	Stock-Financials	1.77%	+1.77%	NEW
23	IFS	Intercorp Financial Services Inc.	Stock-Other	1.47%	+1.47%	NEW
24	QFIN	Qfin Holdings Inc-adr	Stock-Other	1.45%	-0.17%	—
25	FMX	Fomento Economico Mex-sp Adr	Stock-Other	1.42%	+0.46%	+0.56%
26	CPNG	Coupang INC	Stock-Consumer Disc	1.35%	-1.30%	-52.41%
27	KC	Kingsoft Cloud Holdings-adr	Stock-Other	1.19%	+1.19%	NEW
28	BIDU	Baidu INC - Spon Adr	Stock-Comm Services	1.06%	+1.06%	NEW
29	SE	Sea Ltd-adr	Stock-Comm Services	0.96%	-5.98%	-84.03%
30	YMM	Full Truck Alliance -spn Adr	Stock-Other	0.87%	-3.35%	-80.11%
31	VALE	Vale Sa-sp Adr	Stock-Materials	0.87%	+0.35%	+1.24%
32	TCOM	Trip.com Group Ltd-adr	Stock-Consumer Disc	0.80%	-5.12%	-85.43%
33	GLOB	Globant S.A.	Stock-Tech	0.12%	—	+8.11%
34	MKOR	Matthews Korea Active ETF	ETF-Other	0.09%	+0.04%	—
35	ADVE	Matthews Asia Dividend ETF	ETF-Other	0.08%	+0.02%	—
36	SKM	Sk Telecom Co Ltd-spon Adr	Stock-Other	0.04%	+0.02%	+33.52%
37	✓	Agi INC	Stock-Other	0.03%	+0.03%	NEW

Portfolio Performance

Performance for Q3 2026

-1.8%

Performance Last 4 Quarters

-14.6%

Based on 67% of reported portfolio value with available pricing

Stdev: +23.7%
Beta: +0.58
Alpha: -6.9%
Max Drawdown: -27.3%
Annualized Perf: +1.3%
Batting Avg vs S&P: +33.3%
Sortino: +0.27
Stutzer: +0.05
Treynor: +0.07
Sterling: +0.05
Calmar: +0.05
Information Ratio: -0.63
Tracking Error: +23.1%
Stdev Down: +14.2%
Winning Months %: +50%
Losing Months %: +50%
Best 12 Months: +56.1%
Worst 12 Months: -14.8%
Efficiency Ratio: +0.02
Sharpe: +0.16
Stdev Sectors: +13%
Skewness: +1.09
Kurtosis: +3.45
Upside Potential: +2.24

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	37	$246.5M	83	1YUMC 2TSM 3PDD Top holdings2026-03-31 1.YUMC 2.TSM 3.PDD 4.LEGN 5.CYD 6.MU 7.FUTU 8.BZ 9.UMC 10.ITUB
2025-12-31	40	$329.4M	49	1PDD 2FUTU 3SE Top holdings2025-12-31 1.PDD 2.FUTU 3.SE 4.LEGN 5.TCOM 6.BZ 7.YUMC 8.YMM 9.HDB 10.GRAB
2025-09-30	40	$429.5M	38	1PDD 2SE 3LEGN Top holdings2025-09-30 1.PDD 2.SE 3.LEGN 4.TCOM 5.BZ 6.YMM 7.GRAB 8.MMYT 9.TME 10.CPNG
2025-06-30	40	$434.8M	0	1PDD 2SE 3LEGN Top holdings2025-06-30 1.PDD 2.SE 3.LEGN 4.YMM 5.TCOM 6.GRAB 7.MMYT 8.BZ 9.TME 10.YUMC
2025-03-31	37	$484.4M	100	1PDD 2SE 3YMM Top holdings2025-03-31 1.PDD 2.SE 3.YMM 4.LEGN 5.TCOM 6.YUMC 7.BEKE 8.BZ 9.CPNG 10.IBN
2024-12-31	42	$489.2M	0	1PDD 2SE 3LEGN Top holdings2024-12-31 1.PDD 2.SE 3.LEGN 4.TSM 5.YUMC 6.YMM 7.TCOM 8.MMYT 9.GRAB 10.BEKE
2024-09-30	42	$607.2M	0	1PDD 2SE 3YMM Top holdings2024-09-30 1.PDD 2.SE 3.YMM 4.BEKE 5.LEGN 6.TCOM 7.YUMC 8.TSM 9.MMYT 10.ZH
2024-06-30	38	$459.6M	0	1PDD 2YMM 3LEGN Top holdings2024-06-30 1.PDD 2.YMM 3.LEGN 4.SE 5.BEKE 6.TSM 7.TCOM 8.YUMC 9.ZH 10.LRCXEUR
2024-03-31	38	$507.6M	0	1YMM 2BEKE 3LEGN Top holdings2024-03-31 1.YMM 2.BEKE 3.LEGN 4.PDD 5.YUMC 6.TCOM 7.NVDA 8.TSM 9.ZH 10.TME
2023-12-31	36	$711.8M	0	1PDD 2BEKE 3YUMC Top holdings2023-12-31 1.PDD 2.BEKE 3.YUMC 4.YMM 5.LEGN 6.TME 7.BZ 8.TSM 9.ZH 10.NVDA
2023-09-30	38	$826.7M	0	1YUMC 2BEKE 3PDD Top holdings2023-09-30 1.YUMC 2.BEKE 3.PDD 4.LEGN 5.YMM 6.TSM 7.BABA 8.TCOM 9.ZH 10.TME
2023-06-30	45	$853.6M	0	1YUMC 2BEKE 3LEGN Top holdings2023-06-30 1.YUMC 2.BEKE 3.LEGN 4.PDD 5.TSM 6.YMM 7.BABA 8.ONC 9.NVDA 10.SE
2023-03-31	43	$1.0B	0	1YUMC 2PDD 3BEKE Top holdings2023-03-31 1.YUMC 2.PDD 3.BEKE 4.LEGN 5.HTHT 6.YMM 7.TSM 8.SE 9.TCOM 10.AVGO
2022-12-31	39	$846.0M	0	1PDD 2YUMC 3BEKE Top holdings2022-12-31 1.PDD 2.YUMC 3.BEKE 4.LEGN 5.HTHT 6.YMM 7.TSM 8.TCOM 9.BILI 10.ONC
2022-09-30	38	$688.2M	0	1PDD 2YUMC 3LEGN Top holdings2022-09-30 1.PDD 2.YUMC 3.LEGN 4.BEKE 5.TSM 6.NTES 7.AVGO 8.ONC 9.SE 10.TEAM
2022-06-30	41	$696.5M	0	1YUMC 2PDD 3LEGN Top holdings2022-06-30 1.YUMC 2.PDD 3.LEGN 4.JD 5.TSM 6.NTES 7.ONC 8.AVGO 9.BILI 10.SE
2022-03-31	38	$721.8M	0	1YUMC 2TSM 3SE Top holdings2022-03-31 1.YUMC 2.TSM 3.SE 4.PDD 5.JD 6.LEGN 7.AVGO 8.ONC 9.NTES 10.TEAM
2021-12-31	38	$957.6M	0	1YUMC 2SE 3TSM Top holdings2021-12-31 1.YUMC 2.SE 3.TSM 4.JD 5.ONC 6.PDD 7.LEGN 8.AVGO 9.NTES 10.HTHT
2021-09-30	41	$1.6B	0	1SE 2YUMC 3BILI Top holdings2021-09-30 1.SE 2.YUMC 3.BILI 4.TSM 5.XPEV 6.ONC 7.JD 8.LEGN 9.PDD 10.MNSO
2021-06-30	49	$2.4B	100	1BILI 2SE 3YUMC Top holdings2021-06-30 1.BILI 2.SE 3.YUMC 4.BIDU 5.TSM 6.JD 7.XPEV 8.ONC 9.TCOM 10.MNSO
2021-03-31	51	$2.4B	44	1BILI 2SE 3YUMC Top holdings2021-03-31 1.BILI 2.SE 3.YUMC 4.TSM 5.BIDU 6.JD 7.XPEV 8.ONC 9.TCOM 10.TAL
2020-12-31	40	$1.9B	60	1BILI 2SE 3TSM Top holdings2020-12-31 1.BILI 2.SE 3.TSM 4.YUMC 5.JD 6.XPEV 7.BABA 8.TAL 9.ONC 10.AVGO
2020-09-30	35	$1.5B	42	1BABA 2TSM 3BILI Top holdings2020-09-30 1.BABA 2.TSM 3.BILI 4.YUMC 5.TME 6.XPEV 7.SE 8.ONC 9.NTES 10.JD
2020-06-30	35	$1.3B	76	1BABA 2YUMC 3BILI Top holdings2020-06-30 1.BABA 2.YUMC 3.BILI 4.TME 5.JD 6.TSM 7.NTES 8.LEGN 9.BNR 10.AVGO
2020-03-31	33	$1.6B	37	1BABA 2YUMC 3TSM Top holdings2020-03-31 1.BABA 2.YUMC 3.TSM 4.BILI 5.JD 6.TME 7.NTES 8.AVGO 9.ONC 10.EDU
2019-12-31	31	$2.1B	38	1BABA 2YUMC 3TSM Top holdings2019-12-31 1.BABA 2.YUMC 3.TSM 4.CTSH 5.CHLUSD 6.MLCO 7.TME 8.JD 9.AVGO 10.TLK
2019-09-30	33	$2.2B	21	1BABA 2CTSH 3YUMC Top holdings2019-09-30 1.BABA 2.CTSH 3.YUMC 4.CHLUSD 5.TSM 6.IQ 7.2051428D 8.MLCO 9.TME 10.TLK
2019-06-30	35	$2.2B	30	1BABA 2CTSH 3YUMC Top holdings2019-06-30 1.BABA 2.CTSH 3.YUMC 4.CHLUSD 5.TSM 6.IQ 7.MLCO 8.2051428D 9.TLK 10.AVGO
2019-03-31	35	$2.1B	30	1BABA 2CHLUSD 3CTSH Top holdings2019-03-31 1.BABA 2.CHLUSD 3.CTSH 4.YUMC 5.BIDU 6.TSM 7.AVGO 8.2051428D 9.HTHT 10.IQ
2018-12-31	34	$1.6B	32	1BABA 2CHLUSD 3CTSH Top holdings2018-12-31 1.BABA 2.CHLUSD 3.CTSH 4.YUMC 5.BIDU 6.TSM 7.30712A 8.AVGO 9.HTHT 10.NTES
2018-09-30	35	$2.1B	28	1BABA 2BIDU 3CHLUSD Top holdings2018-09-30 1.BABA 2.BIDU 3.CHLUSD 4.CTSH 5.YUMC 6.TSM 7.30712A 8.AVGO 9.HSBC 10.NTES
2018-06-30	35	$2.2B	12	1BABA 2BIDU 3CHLUSD Top holdings2018-06-30 1.BABA 2.BIDU 3.CHLUSD 4.CTSH 5.YUMC 6.TSM 7.HSBC 8.30712A 9.AVGO 10.BZUN
2018-03-31	37	$2.2B	25	1BABA 2BIDU 3CHLUSD Top holdings2018-03-31 1.BABA 2.BIDU 3.CHLUSD 4.CTSH 5.YUMC 6.TSM 7.HSBC 8.30712A 9.AVGO 10.NTES
2017-12-31	38	$2.1B	20	1BIDU 2BABA 3CHLUSD Top holdings2017-12-31 1.BIDU 2.BABA 3.CHLUSD 4.CTSH 5.TSM 6.HSBC 7.YUMC 8.NTES 9.AVGO 10.TLK
2017-09-30	45	$2.4B	20	1BIDU 2BABA 3CTSH Top holdings2017-09-30 1.BIDU 2.BABA 3.CTSH 4.CHLUSD 5.TSM 6.HSBC 7.YUM 8.TLK 9.NTES 10.AVGO
2017-06-30	39	$2.2B	16	1CHLUSD 2BIDU 3BABA Top holdings2017-06-30 1.CHLUSD 2.BIDU 3.BABA 4.CTSH 5.TSM 6.HSBC 7.YUM 8.TLK 9.M8737E 10.YUMC
2017-03-31	36	$2.0B	16	1CHLUSD 2BIDU 3CTSH Top holdings2017-03-31 1.CHLUSD 2.BIDU 3.CTSH 4.BABA 5.TSM 6.HSBC 7.M8737E 8.TLK 9.YUM 10.RMD
2016-12-31	38	$1.9B	34	1CHLUSD 2BIDU 3CTSH Top holdings2016-12-31 1.CHLUSD 2.BIDU 3.CTSH 4.BABA 5.CHT 6.TSM 7.HSBC 8.M8737E 9.YUM 10.TLK
2016-09-30	42	$2.4B	40	1CHLUSD 2BIDU 3YUM Top holdings2016-09-30 1.CHLUSD 2.BIDU 3.YUM 4.CTSH 5.BABA 6.CHT 7.TLK 8.TSM 9.QCOM 10.M8737E
2016-06-30	35	$2.3B	34	1CHLUSD 2BIDU 3CHT Top holdings2016-06-30 1.CHLUSD 2.BIDU 3.CHT 4.YUM 5.TLK 6.CTSH 7.TSM 8.BABA 9.QCOM 10.RMD
2016-03-31	36	$2.3B	12	1CHLUSD 2BIDU 3CHT Top holdings2016-03-31 1.CHLUSD 2.BIDU 3.CHT 4.YUM 5.CTSH 6.TSM 7.TLK 8.BABA 9.QCOM 10.M8737E
2015-12-31	37	$2.2B	17	1CHLUSD 2BIDU 3YUM Top holdings2015-12-31 1.CHLUSD 2.BIDU 3.YUM 4.CHT 5.CTSH 6.TLK 7.TSM 8.BABA 9.QCOM 10.HSBC
2015-09-30	36	$2.3B	30	1CHLUSD 2YUM 3BIDU Top holdings2015-09-30 1.CHLUSD 2.YUM 3.BIDU 4.CHT 5.CTSH 6.TLK 7.TSM 8.929352 9.QCOM 10.BABA
2015-06-30	40	$2.9B	12	1CHLUSD 2BIDU 3YUM Top holdings2015-06-30 1.CHLUSD 2.BIDU 3.YUM 4.CHT 5.HSBC 6.TLK 7.TSM 8.BABA 9.CTSH 10.QCOM
2015-03-31	39	$2.9B	23	1CHLUSD 2YUM 3BIDU Top holdings2015-03-31 1.CHLUSD 2.YUM 3.BIDU 4.CHT 5.TSM 6.HSBC 7.TLK 8.CTSH 9.BABA 10.QCOM
2014-12-31	41	$2.4B	42	1CHLUSD 2YUM 3BIDU Top holdings2014-12-31 1.CHLUSD 2.YUM 3.BIDU 4.CHT 5.TSM 6.HSBC 7.TLK 8.CTSH 9.BABA 10.NTES
2014-09-30	37	$2.2B	23	1CHLUSD 2BIDU 3YUM Top holdings2014-09-30 1.CHLUSD 2.BIDU 3.YUM 4.HSBC 5.CHT 6.TLK 7.TSM 8.BABA 9.CTSH 10.NTES
2014-06-30	35	$1.8B	38	1CHLUSD 2BIDU 3HSBC Top holdings2014-06-30 1.CHLUSD 2.BIDU 3.HSBC 4.CHT 5.TSM 6.YUM 7.TLK 8.NTES 9.602675 10.HD
2014-03-31	33	$1.8B	17	1CHLUSD 2HSBC 3CHT Top holdings2014-03-31 1.CHLUSD 2.HSBC 3.CHT 4.BIDU 5.TSM 6.YUM 7.TLK 8.NTES 9.602675 10.HD
2013-12-31	30	$2.0B	8	1CHLUSD 2HSBC 3BIDU Top holdings2013-12-31 1.CHLUSD 2.HSBC 3.BIDU 4.CHT 5.YUM 6.TSM 7.TLK 8.NTES 9.602675 10.G81477
2013-09-30	26	$2.0B	26	1CHLUSD 2HSBC 3CHT Top holdings2013-09-30 1.CHLUSD 2.HSBC 3.CHT 4.BIDU 5.YUM 6.TSM 7.TLK 8.NTES 9.602675 10.G81477
2013-06-30	26	$1.8B	—	1CHLUSD 2HSBC 3CHT Top holdings2013-06-30 1.CHLUSD 2.HSBC 3.CHT 4.TSM 5.YUM 6.TLK 7.BIDU 8.NTES 9.602675 10.G81477

Holding changes this quarter

Matthews International Capital Management LLC's most significant position changes for 2026-03-31: Sold out: MakeMyTrip Limited (MMYT); New buy: United Microelectron-sp Adr (UMC); Sold out: Zhihu Inc. (ZH); New buy: Petroleo Brasileiro-spon Adr (PBR); New buy: Credicorp Ltd. (BAP).

Position changes disclosed by Matthews International Capital Management LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	YUMC	Yum China Holdings INC	+6.5%	+77.78%	Add
2	TSM	Taiwan Semiconductor-sp Adr	+5.6%	+91.00%	Add
3	CYD	China Yuchai International Limited	+4.4%	+423.74%	Add
4	FCX	Freeport-mcmoran INC	+2%	+1095.92%	Add
5	BVN	Cia De Minas Buenaventur-adr	+1.7%	+483.94%	Add
6	MU	Micron Technology INC	+1.6%	+5.11%	Add
7	ATAT	Atour Lifestyle Holdings-adr	+1.3%	+33.78%	Add
8	LRCXEUR	Lam Research CORP	+1.3%	+27.28%	Add
9	ITUB	Itau Unibanco H-spon Prf Adr	+0.8%	-15.77%	Trim
10	NU	Nu Holdings Ltd.	+0.8%	+17.03%	Add
11	LEGN	Legend Biotech Corp-adr	+0.5%	-3.23%	Trim
12	FMX	Fomento Economico Mex-sp Adr	+0.5%	+0.56%	Add
13	VALE	Vale Sa-sp Adr	+0.4%	+1.24%	Add
14	MKOR	Matthews Korea Active ETF	0%	—	Unchanged
15	SKM	Sk Telecom Co Ltd-spon Adr	0%	+33.52%	Add
16	ADVE	Matthews Asia Dividend ETF	0%	—	Unchanged
17	GLOB	Globant S.A.	—	+8.11%	Add
18	ACMR	Acm Research Inc-class A	0%	-25.87%	Trim
19	QFIN	Qfin Holdings Inc-adr	-0.2%	—	Unchanged
20	✓	Grupo Financiero Galicia	-0.2%	-19.13%	Trim
21	IBN	Icici Bank Ltd-spon Adr	-0.2%	-19.67%	Trim
22	HDB	Hdfc Bank Ltd-adr	-0.9%	-16.65%	Trim
23	CPNG	Coupang INC	-1.3%	-52.41%	Trim
24	BZ	Kanzhun LTD - Adr	-1.4%	-16.01%	Trim
25	GRAB	Grab Holdings Limited	-1.7%	-46.23%	Trim
26	YMM	Full Truck Alliance -spn Adr	-3.4%	-80.11%	Trim
27	FUTU	Futu Holdings Ltd-adr	-3.7%	-54.46%	Trim
28	PDD	Pdd Holdings INC	-4.5%	-46.33%	Trim
29	TCOM	Trip.com Group Ltd-adr	-5.1%	-85.43%	Trim
30	SE	Sea Ltd-adr	-6%	-84.03%	Trim
31	MMYT	MakeMyTrip Limited	—	EXIT	Sold out
32	UMC	United Microelectron-sp Adr	—	NEW	New buy
33	ZH	Zhihu Inc.	—	EXIT	Sold out
34	PBR	Petroleo Brasileiro-spon Adr	—	NEW	New buy
35	BAP	Credicorp Ltd.	—	NEW	New buy
36	BEKE	Ke Holdings Inc-adr	—	EXIT	Sold out
37	TME	Tencent Music Entertainm-adr	—	EXIT	Sold out
38	IFS	Intercorp Financial Services Inc.	—	NEW	New buy
39	NTES	Netease Inc-adr	—	EXIT	Sold out
40	KC	Kingsoft Cloud Holdings-adr	—	NEW	New buy
41	BIDU	Baidu INC - Spon Adr	—	NEW	New buy
42	XPEV	Xp INC Class A	—	EXIT	Sold out
43	ZTO	Zto Express Cayman Inc-adr	—	EXIT	Sold out
44	KSPI	Jsc Kaspi.kz Adr	—	EXIT	Sold out
45	✓	Agi INC	—	NEW	New buy
46	TUYA	Tuya INC	—	EXIT	Sold out
47	CHA	Chagee Holdings Ltd-adr	—	EXIT	Sold out

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-04	13F-HR	View on EDGAR
2025-12-31	2026-01-29	13F-HR	View on EDGAR
2025-09-30	2025-10-17	13F-HR	View on EDGAR
2025-06-30	2025-07-21	13F-HR	View on EDGAR
2025-03-31	2025-04-21	13F-HR	View on EDGAR
2024-12-31	2025-01-22	13F-HR	View on EDGAR
2024-09-30	2024-10-15	13F-HR	View on EDGAR
2024-06-30	2024-07-22	13F-HR	View on EDGAR
2024-03-31	2024-04-15	13F-HR	View on EDGAR
2023-12-31	2024-01-17	13F-HR	View on EDGAR
2023-09-30	2023-10-27	13F-HR	View on EDGAR
2023-06-30	2023-08-10	13F-HR	View on EDGAR
2023-03-31	2023-05-10	13F-HR	View on EDGAR
2022-12-31	2023-02-09	13F-HR	View on EDGAR
2022-09-30	2022-11-04	13F-HR	View on EDGAR
2022-06-30	2022-07-13	13F-HR	View on EDGAR
2022-03-31	2022-05-05	13F-HR	View on EDGAR
2021-12-31	2022-02-02	13F-HR	View on EDGAR
2021-09-30	2021-11-08	13F-HR	View on EDGAR
2021-06-30	2021-08-10	13F-HR	View on EDGAR
2021-03-31	2021-05-06	13F-HR	View on EDGAR
2020-12-31	2021-02-09	13F-HR	View on EDGAR
2020-09-30	2020-11-05	13F-HR	View on EDGAR
2020-06-30	2020-07-29	13F-HR	View on EDGAR
2020-03-31	2020-05-11	13F-HR	View on EDGAR
2019-12-31	2020-02-04	13F-HR	View on EDGAR
2019-09-30	2019-11-05	13F-HR	View on EDGAR
2019-06-30	2019-08-06	13F-HR	View on EDGAR
2019-03-31	2019-05-06	13F-HR	View on EDGAR
2018-12-31	2019-02-06	13F-HR	View on EDGAR
2018-09-30	2018-11-14	13F-HR	View on EDGAR
2018-06-30	2018-08-13	13F-HR	View on EDGAR
2018-03-31	2018-05-10	13F-HR	View on EDGAR
2017-12-31	2018-02-12	13F-HR	View on EDGAR
2017-09-30	2017-11-13	13F-HR	View on EDGAR
2017-06-30	2017-08-11	13F-HR	View on EDGAR
2017-03-31	2017-05-12	13F-HR	View on EDGAR
2016-12-31	2017-02-10	13F-HR	View on EDGAR
2016-09-30	2016-11-14	13F-HR	View on EDGAR
2016-06-30	2016-08-11	13F-HR	View on EDGAR
2016-03-31	2016-05-12	13F-HR	View on EDGAR
2015-12-31	2016-02-11	13F-HR	View on EDGAR
2015-09-30	2015-11-13	13F-HR	View on EDGAR
2015-06-30	2015-08-13	13F-HR	View on EDGAR
2015-03-31	2015-05-14	13F-HR	View on EDGAR
2014-12-31	2015-02-12	13F-HR	View on EDGAR
2014-09-30	2014-11-13	13F-HR	View on EDGAR
2014-06-30	2014-08-13	13F-HR	View on EDGAR
2014-03-31	2014-05-13	13F-HR	View on EDGAR
2013-12-31	2014-02-14	13F-HR	View on EDGAR
2013-09-30	2013-11-13	13F-HR	View on EDGAR
2013-06-30	2013-08-13	13F-HR	View on EDGAR

FAQ

What is Matthews International Capital Management LLC and what type of investor is it?

Matthews International Capital Management LLC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $246.5M, spread across 37 disclosed positions.

What are Matthews International Capital Management LLC's largest equity positions?

Based on the latest 13F filing, Matthews International Capital Management LLC's top holdings by market value are: 1. Yum China Holdings INC (YUMC) — $27.1M (11.0%) 2. Taiwan Semiconductor-sp Adr (TSM) — $21.1M (8.6%) 3. Pdd Holdings INC (PDD) — $20.3M (8.3%) 4. Legend Biotech Corp-adr (LEGN) — $16.7M (6.8%) 5. China Yuchai International Limited (CYD) — $12.5M (5.1%)

What changes did Matthews International Capital Management LLC make in its most recent portfolio filing?

In the latest reported quarter, Matthews International Capital Management LLC made 44 notable position adjustments: 7 new positions were initiated, 13 existing holdings were added to, 14 positions were partially reduced, and 10 were completely exited. The largest of these moves: Sold out: MakeMyTrip Limited (MMYT); New buy: United Microelectron-sp Adr (UMC); Sold out: Zhihu Inc. (ZH); New buy: Petroleo Brasileiro-spon Adr (PBR); New buy: Credicorp Ltd. (BAP)

What sectors does Matthews International Capital Management LLC focus on?

Matthews International Capital Management LLC is concentrated in the following sectors based on its current disclosed equity portfolio: • Consumer Discretionary: 33.6% • Financials: 28.0% • Information Technology: 26.8% • Materials: 4.7% • Energy: 3.8% • Communication Services: 3.2%

Peer Institutions

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Verisail Partners, LLC

CIK 0002016904

Total reported value

$246.5M

25 stks

2026-03-31

Concentration75.3

Portfolio Stability2.5

Sector conviction98.9

AUM within 0.0% of this institution

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Point View Wealth Management, Inc.

CIK 0001408103

Total reported value

$246.5M

276 stks

2020-12-31

Stale — no recent filing

Concentration3.0

Portfolio Stability20.5

Sector conviction48.4

AUM within 0.0% of this institution

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Zeno Equity Partners LLP

CIK 0002013334

Total reported value

$246.4M

13 stks

2026-03-31

Concentration42.5

Portfolio Stability71.2

Sector conviction66.0

AUM within 0.0% of this institution

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Similar Holdings Style

Institutions with overlapping top holdings

New Silk Road Investment Pte LTD

CIK 0001569352

Total reported value

$50.4M

9 stks

2023-09-30

Stale — no recent filing

Concentration54.8

Portfolio Stability0.0

Sector conviction100.0

2 of the top 5 holdings overlap, including Yum China Holdings INC

View detail

Greenwoods Asset Management Ltd

CIK 0001577133

Total reported value

$4.4B

39 stks

2020-12-31

Stale — no recent filing

Concentration45.1

Portfolio Stability77.9

Sector conviction100.0

2 of the top 5 holdings overlap, including Pdd Holdings INC

View detail

Top Ace Asset Management Ltd

CIK 0001614200

Total reported value

$25.3M

10 stks

2023-09-30

Stale — no recent filing

Concentration90.1

Portfolio Stability0.0

Sector conviction100.0

2 of the top 5 holdings overlap, including Yum China Holdings INC

View detail

Matthews International Capital Management LLC 13F Portfolio & Position Changes

CIK: 0001028074

ContrarianHigh-turnover traderQuality / disciplined sizing

Total reported value

$246.5M

Reporting period: 2026-03-31 · Number of holdings: 37

Browse other institutions with $100M to $1B AUM Browse other institutions starting with "M"

Personality snowflake

Concentration: 19.79
Portfolio Stability: 82.56
Momentum/Contrarian: 0
Sector conviction: 80.31
Diversification: 74
Sizing Uniformity: 90.76

Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.92), suggesting a disciplined, rules-based approach to how much capital goes into each idea.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Recent moves

Add YUMC
+77.8%　$12.2M
Trim SE
-84.0%　-$20.5M
Add TSM
+91.0%　$11.2M
Trim TCOM
-85.4%　-$17.5M
Trim PDD
-46.3%　-$21.7M
Add CYD
+423.7%　$10.3M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	YUMC	Yum China Holdings INC	Stock-Consumer Disc	10.98%	+6.46%	+77.78%
2	TSM	Taiwan Semiconductor-sp Adr	Stock-Tech	8.57%	+5.55%	+91.00%
3	PDD	Pdd Holdings INC	Stock-Consumer Disc	8.25%	-4.51%	-46.33%
4	LEGN	Legend Biotech Corp-adr	Stock-Other	6.80%	+0.49%	-3.23%
5	CYD	China Yuchai International Limited	Stock-Other	5.06%	+4.39%	+423.74%
6	MU	Micron Technology INC	Stock-Tech	3.99%	+1.59%	+5.11%
7	FUTU	Futu Holdings Ltd-adr	Stock-Financials	3.81%	-3.71%	-54.46%
8	BZ	Kanzhun LTD - Adr	Stock-Other	3.78%	-1.35%	-16.01%
9	UMC	United Microelectron-sp Adr	Stock-Other	3.56%	+3.56%	NEW
10	ITUB	Itau Unibanco H-spon Prf Adr	Stock-Financials	3.29%	+0.79%	-15.77%
11	ATAT	Atour Lifestyle Holdings-adr	Stock-Other	3.28%	+1.32%	+33.78%
12	✓	Grupo Financiero Galicia	Stock-Other	3.17%	-0.22%	-19.13%
13	IBN	Icici Bank Ltd-spon Adr	Stock-Financials	3.12%	-0.22%	-19.67%
14	NU	Nu Holdings Ltd.	Stock-Financials	2.95%	+0.75%	+17.03%
15	HDB	Hdfc Bank Ltd-adr	Stock-Financials	2.89%	-0.92%	-16.65%
16	LRCXEUR	Lam Research CORP	Stock-Tech	2.44%	+1.29%	+27.28%
17	PBR	Petroleo Brasileiro-spon Adr	Stock-Energy	2.40%	+2.40%	NEW
18	ACMR	Acm Research Inc-class A	Stock-Other	2.22%	-0.02%	-25.87%
19	FCX	Freeport-mcmoran INC	Stock-Materials	2.10%	+1.99%	+1095.92%
20	GRAB	Grab Holdings Limited	Stock-Tech	1.89%	-1.70%	-46.23%
21	BVN	Cia De Minas Buenaventur-adr	Stock-Other	1.89%	+1.70%	+483.94%
22	BAP	Credicorp Ltd.	Stock-Financials	1.77%	+1.77%	NEW
23	IFS	Intercorp Financial Services Inc.	Stock-Other	1.47%	+1.47%	NEW
24	QFIN	Qfin Holdings Inc-adr	Stock-Other	1.45%	-0.17%	—
25	FMX	Fomento Economico Mex-sp Adr	Stock-Other	1.42%	+0.46%	+0.56%
26	CPNG	Coupang INC	Stock-Consumer Disc	1.35%	-1.30%	-52.41%
27	KC	Kingsoft Cloud Holdings-adr	Stock-Other	1.19%	+1.19%	NEW
28	BIDU	Baidu INC - Spon Adr	Stock-Comm Services	1.06%	+1.06%	NEW
29	SE	Sea Ltd-adr	Stock-Comm Services	0.96%	-5.98%	-84.03%
30	YMM	Full Truck Alliance -spn Adr	Stock-Other	0.87%	-3.35%	-80.11%
31	VALE	Vale Sa-sp Adr	Stock-Materials	0.87%	+0.35%	+1.24%
32	TCOM	Trip.com Group Ltd-adr	Stock-Consumer Disc	0.80%	-5.12%	-85.43%
33	GLOB	Globant S.A.	Stock-Tech	0.12%	—	+8.11%
34	MKOR	Matthews Korea Active ETF	ETF-Other	0.09%	+0.04%	—
35	ADVE	Matthews Asia Dividend ETF	ETF-Other	0.08%	+0.02%	—
36	SKM	Sk Telecom Co Ltd-spon Adr	Stock-Other	0.04%	+0.02%	+33.52%
37	✓	Agi INC	Stock-Other	0.03%	+0.03%	NEW

Portfolio Performance

Performance for Q3 2026

-1.8%

Performance Last 4 Quarters

-14.6%

Based on 67% of reported portfolio value with available pricing

Stdev: +23.7%
Beta: +0.58
Alpha: -6.9%
Max Drawdown: -27.3%
Annualized Perf: +1.3%
Batting Avg vs S&P: +33.3%
Sortino: +0.27
Stutzer: +0.05
Treynor: +0.07
Sterling: +0.05
Calmar: +0.05
Information Ratio: -0.63
Tracking Error: +23.1%
Stdev Down: +14.2%
Winning Months %: +50%
Losing Months %: +50%
Best 12 Months: +56.1%
Worst 12 Months: -14.8%
Efficiency Ratio: +0.02
Sharpe: +0.16
Stdev Sectors: +13%
Skewness: +1.09
Kurtosis: +3.45
Upside Potential: +2.24

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	37	$246.5M	83	1YUMC 2TSM 3PDD Top holdings2026-03-31 1.YUMC 2.TSM 3.PDD 4.LEGN 5.CYD 6.MU 7.FUTU 8.BZ 9.UMC 10.ITUB
2025-12-31	40	$329.4M	49	1PDD 2FUTU 3SE Top holdings2025-12-31 1.PDD 2.FUTU 3.SE 4.LEGN 5.TCOM 6.BZ 7.YUMC 8.YMM 9.HDB 10.GRAB
2025-09-30	40	$429.5M	38	1PDD 2SE 3LEGN Top holdings2025-09-30 1.PDD 2.SE 3.LEGN 4.TCOM 5.BZ 6.YMM 7.GRAB 8.MMYT 9.TME 10.CPNG
2025-06-30	40	$434.8M	0	1PDD 2SE 3LEGN Top holdings2025-06-30 1.PDD 2.SE 3.LEGN 4.YMM 5.TCOM 6.GRAB 7.MMYT 8.BZ 9.TME 10.YUMC
2025-03-31	37	$484.4M	100	1PDD 2SE 3YMM Top holdings2025-03-31 1.PDD 2.SE 3.YMM 4.LEGN 5.TCOM 6.YUMC 7.BEKE 8.BZ 9.CPNG 10.IBN
2024-12-31	42	$489.2M	0	1PDD 2SE 3LEGN Top holdings2024-12-31 1.PDD 2.SE 3.LEGN 4.TSM 5.YUMC 6.YMM 7.TCOM 8.MMYT 9.GRAB 10.BEKE
2024-09-30	42	$607.2M	0	1PDD 2SE 3YMM Top holdings2024-09-30 1.PDD 2.SE 3.YMM 4.BEKE 5.LEGN 6.TCOM 7.YUMC 8.TSM 9.MMYT 10.ZH
2024-06-30	38	$459.6M	0	1PDD 2YMM 3LEGN Top holdings2024-06-30 1.PDD 2.YMM 3.LEGN 4.SE 5.BEKE 6.TSM 7.TCOM 8.YUMC 9.ZH 10.LRCXEUR
2024-03-31	38	$507.6M	0	1YMM 2BEKE 3LEGN Top holdings2024-03-31 1.YMM 2.BEKE 3.LEGN 4.PDD 5.YUMC 6.TCOM 7.NVDA 8.TSM 9.ZH 10.TME
2023-12-31	36	$711.8M	0	1PDD 2BEKE 3YUMC Top holdings2023-12-31 1.PDD 2.BEKE 3.YUMC 4.YMM 5.LEGN 6.TME 7.BZ 8.TSM 9.ZH 10.NVDA
2023-09-30	38	$826.7M	0	1YUMC 2BEKE 3PDD Top holdings2023-09-30 1.YUMC 2.BEKE 3.PDD 4.LEGN 5.YMM 6.TSM 7.BABA 8.TCOM 9.ZH 10.TME
2023-06-30	45	$853.6M	0	1YUMC 2BEKE 3LEGN Top holdings2023-06-30 1.YUMC 2.BEKE 3.LEGN 4.PDD 5.TSM 6.YMM 7.BABA 8.ONC 9.NVDA 10.SE
2023-03-31	43	$1.0B	0	1YUMC 2PDD 3BEKE Top holdings2023-03-31 1.YUMC 2.PDD 3.BEKE 4.LEGN 5.HTHT 6.YMM 7.TSM 8.SE 9.TCOM 10.AVGO
2022-12-31	39	$846.0M	0	1PDD 2YUMC 3BEKE Top holdings2022-12-31 1.PDD 2.YUMC 3.BEKE 4.LEGN 5.HTHT 6.YMM 7.TSM 8.TCOM 9.BILI 10.ONC
2022-09-30	38	$688.2M	0	1PDD 2YUMC 3LEGN Top holdings2022-09-30 1.PDD 2.YUMC 3.LEGN 4.BEKE 5.TSM 6.NTES 7.AVGO 8.ONC 9.SE 10.TEAM
2022-06-30	41	$696.5M	0	1YUMC 2PDD 3LEGN Top holdings2022-06-30 1.YUMC 2.PDD 3.LEGN 4.JD 5.TSM 6.NTES 7.ONC 8.AVGO 9.BILI 10.SE
2022-03-31	38	$721.8M	0	1YUMC 2TSM 3SE Top holdings2022-03-31 1.YUMC 2.TSM 3.SE 4.PDD 5.JD 6.LEGN 7.AVGO 8.ONC 9.NTES 10.TEAM
2021-12-31	38	$957.6M	0	1YUMC 2SE 3TSM Top holdings2021-12-31 1.YUMC 2.SE 3.TSM 4.JD 5.ONC 6.PDD 7.LEGN 8.AVGO 9.NTES 10.HTHT
2021-09-30	41	$1.6B	0	1SE 2YUMC 3BILI Top holdings2021-09-30 1.SE 2.YUMC 3.BILI 4.TSM 5.XPEV 6.ONC 7.JD 8.LEGN 9.PDD 10.MNSO
2021-06-30	49	$2.4B	100	1BILI 2SE 3YUMC Top holdings2021-06-30 1.BILI 2.SE 3.YUMC 4.BIDU 5.TSM 6.JD 7.XPEV 8.ONC 9.TCOM 10.MNSO
2021-03-31	51	$2.4B	44	1BILI 2SE 3YUMC Top holdings2021-03-31 1.BILI 2.SE 3.YUMC 4.TSM 5.BIDU 6.JD 7.XPEV 8.ONC 9.TCOM 10.TAL
2020-12-31	40	$1.9B	60	1BILI 2SE 3TSM Top holdings2020-12-31 1.BILI 2.SE 3.TSM 4.YUMC 5.JD 6.XPEV 7.BABA 8.TAL 9.ONC 10.AVGO
2020-09-30	35	$1.5B	42	1BABA 2TSM 3BILI Top holdings2020-09-30 1.BABA 2.TSM 3.BILI 4.YUMC 5.TME 6.XPEV 7.SE 8.ONC 9.NTES 10.JD
2020-06-30	35	$1.3B	76	1BABA 2YUMC 3BILI Top holdings2020-06-30 1.BABA 2.YUMC 3.BILI 4.TME 5.JD 6.TSM 7.NTES 8.LEGN 9.BNR 10.AVGO
2020-03-31	33	$1.6B	37	1BABA 2YUMC 3TSM Top holdings2020-03-31 1.BABA 2.YUMC 3.TSM 4.BILI 5.JD 6.TME 7.NTES 8.AVGO 9.ONC 10.EDU
2019-12-31	31	$2.1B	38	1BABA 2YUMC 3TSM Top holdings2019-12-31 1.BABA 2.YUMC 3.TSM 4.CTSH 5.CHLUSD 6.MLCO 7.TME 8.JD 9.AVGO 10.TLK
2019-09-30	33	$2.2B	21	1BABA 2CTSH 3YUMC Top holdings2019-09-30 1.BABA 2.CTSH 3.YUMC 4.CHLUSD 5.TSM 6.IQ 7.2051428D 8.MLCO 9.TME 10.TLK
2019-06-30	35	$2.2B	30	1BABA 2CTSH 3YUMC Top holdings2019-06-30 1.BABA 2.CTSH 3.YUMC 4.CHLUSD 5.TSM 6.IQ 7.MLCO 8.2051428D 9.TLK 10.AVGO
2019-03-31	35	$2.1B	30	1BABA 2CHLUSD 3CTSH Top holdings2019-03-31 1.BABA 2.CHLUSD 3.CTSH 4.YUMC 5.BIDU 6.TSM 7.AVGO 8.2051428D 9.HTHT 10.IQ
2018-12-31	34	$1.6B	32	1BABA 2CHLUSD 3CTSH Top holdings2018-12-31 1.BABA 2.CHLUSD 3.CTSH 4.YUMC 5.BIDU 6.TSM 7.30712A 8.AVGO 9.HTHT 10.NTES
2018-09-30	35	$2.1B	28	1BABA 2BIDU 3CHLUSD Top holdings2018-09-30 1.BABA 2.BIDU 3.CHLUSD 4.CTSH 5.YUMC 6.TSM 7.30712A 8.AVGO 9.HSBC 10.NTES
2018-06-30	35	$2.2B	12	1BABA 2BIDU 3CHLUSD Top holdings2018-06-30 1.BABA 2.BIDU 3.CHLUSD 4.CTSH 5.YUMC 6.TSM 7.HSBC 8.30712A 9.AVGO 10.BZUN
2018-03-31	37	$2.2B	25	1BABA 2BIDU 3CHLUSD Top holdings2018-03-31 1.BABA 2.BIDU 3.CHLUSD 4.CTSH 5.YUMC 6.TSM 7.HSBC 8.30712A 9.AVGO 10.NTES
2017-12-31	38	$2.1B	20	1BIDU 2BABA 3CHLUSD Top holdings2017-12-31 1.BIDU 2.BABA 3.CHLUSD 4.CTSH 5.TSM 6.HSBC 7.YUMC 8.NTES 9.AVGO 10.TLK
2017-09-30	45	$2.4B	20	1BIDU 2BABA 3CTSH Top holdings2017-09-30 1.BIDU 2.BABA 3.CTSH 4.CHLUSD 5.TSM 6.HSBC 7.YUM 8.TLK 9.NTES 10.AVGO
2017-06-30	39	$2.2B	16	1CHLUSD 2BIDU 3BABA Top holdings2017-06-30 1.CHLUSD 2.BIDU 3.BABA 4.CTSH 5.TSM 6.HSBC 7.YUM 8.TLK 9.M8737E 10.YUMC
2017-03-31	36	$2.0B	16	1CHLUSD 2BIDU 3CTSH Top holdings2017-03-31 1.CHLUSD 2.BIDU 3.CTSH 4.BABA 5.TSM 6.HSBC 7.M8737E 8.TLK 9.YUM 10.RMD
2016-12-31	38	$1.9B	34	1CHLUSD 2BIDU 3CTSH Top holdings2016-12-31 1.CHLUSD 2.BIDU 3.CTSH 4.BABA 5.CHT 6.TSM 7.HSBC 8.M8737E 9.YUM 10.TLK
2016-09-30	42	$2.4B	40	1CHLUSD 2BIDU 3YUM Top holdings2016-09-30 1.CHLUSD 2.BIDU 3.YUM 4.CTSH 5.BABA 6.CHT 7.TLK 8.TSM 9.QCOM 10.M8737E
2016-06-30	35	$2.3B	34	1CHLUSD 2BIDU 3CHT Top holdings2016-06-30 1.CHLUSD 2.BIDU 3.CHT 4.YUM 5.TLK 6.CTSH 7.TSM 8.BABA 9.QCOM 10.RMD
2016-03-31	36	$2.3B	12	1CHLUSD 2BIDU 3CHT Top holdings2016-03-31 1.CHLUSD 2.BIDU 3.CHT 4.YUM 5.CTSH 6.TSM 7.TLK 8.BABA 9.QCOM 10.M8737E
2015-12-31	37	$2.2B	17	1CHLUSD 2BIDU 3YUM Top holdings2015-12-31 1.CHLUSD 2.BIDU 3.YUM 4.CHT 5.CTSH 6.TLK 7.TSM 8.BABA 9.QCOM 10.HSBC
2015-09-30	36	$2.3B	30	1CHLUSD 2YUM 3BIDU Top holdings2015-09-30 1.CHLUSD 2.YUM 3.BIDU 4.CHT 5.CTSH 6.TLK 7.TSM 8.929352 9.QCOM 10.BABA
2015-06-30	40	$2.9B	12	1CHLUSD 2BIDU 3YUM Top holdings2015-06-30 1.CHLUSD 2.BIDU 3.YUM 4.CHT 5.HSBC 6.TLK 7.TSM 8.BABA 9.CTSH 10.QCOM
2015-03-31	39	$2.9B	23	1CHLUSD 2YUM 3BIDU Top holdings2015-03-31 1.CHLUSD 2.YUM 3.BIDU 4.CHT 5.TSM 6.HSBC 7.TLK 8.CTSH 9.BABA 10.QCOM
2014-12-31	41	$2.4B	42	1CHLUSD 2YUM 3BIDU Top holdings2014-12-31 1.CHLUSD 2.YUM 3.BIDU 4.CHT 5.TSM 6.HSBC 7.TLK 8.CTSH 9.BABA 10.NTES
2014-09-30	37	$2.2B	23	1CHLUSD 2BIDU 3YUM Top holdings2014-09-30 1.CHLUSD 2.BIDU 3.YUM 4.HSBC 5.CHT 6.TLK 7.TSM 8.BABA 9.CTSH 10.NTES
2014-06-30	35	$1.8B	38	1CHLUSD 2BIDU 3HSBC Top holdings2014-06-30 1.CHLUSD 2.BIDU 3.HSBC 4.CHT 5.TSM 6.YUM 7.TLK 8.NTES 9.602675 10.HD
2014-03-31	33	$1.8B	17	1CHLUSD 2HSBC 3CHT Top holdings2014-03-31 1.CHLUSD 2.HSBC 3.CHT 4.BIDU 5.TSM 6.YUM 7.TLK 8.NTES 9.602675 10.HD
2013-12-31	30	$2.0B	8	1CHLUSD 2HSBC 3BIDU Top holdings2013-12-31 1.CHLUSD 2.HSBC 3.BIDU 4.CHT 5.YUM 6.TSM 7.TLK 8.NTES 9.602675 10.G81477
2013-09-30	26	$2.0B	26	1CHLUSD 2HSBC 3CHT Top holdings2013-09-30 1.CHLUSD 2.HSBC 3.CHT 4.BIDU 5.YUM 6.TSM 7.TLK 8.NTES 9.602675 10.G81477
2013-06-30	26	$1.8B	—	1CHLUSD 2HSBC 3CHT Top holdings2013-06-30 1.CHLUSD 2.HSBC 3.CHT 4.TSM 5.YUM 6.TLK 7.BIDU 8.NTES 9.602675 10.G81477

Holding changes this quarter

Position changes disclosed by Matthews International Capital Management LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	YUMC	Yum China Holdings INC	+6.5%	+77.78%	Add
2	TSM	Taiwan Semiconductor-sp Adr	+5.6%	+91.00%	Add
3	CYD	China Yuchai International Limited	+4.4%	+423.74%	Add
4	FCX	Freeport-mcmoran INC	+2%	+1095.92%	Add
5	BVN	Cia De Minas Buenaventur-adr	+1.7%	+483.94%	Add
6	MU	Micron Technology INC	+1.6%	+5.11%	Add
7	ATAT	Atour Lifestyle Holdings-adr	+1.3%	+33.78%	Add
8	LRCXEUR	Lam Research CORP	+1.3%	+27.28%	Add
9	ITUB	Itau Unibanco H-spon Prf Adr	+0.8%	-15.77%	Trim
10	NU	Nu Holdings Ltd.	+0.8%	+17.03%	Add
11	LEGN	Legend Biotech Corp-adr	+0.5%	-3.23%	Trim
12	FMX	Fomento Economico Mex-sp Adr	+0.5%	+0.56%	Add
13	VALE	Vale Sa-sp Adr	+0.4%	+1.24%	Add
14	MKOR	Matthews Korea Active ETF	0%	—	Unchanged
15	SKM	Sk Telecom Co Ltd-spon Adr	0%	+33.52%	Add
16	ADVE	Matthews Asia Dividend ETF	0%	—	Unchanged
17	GLOB	Globant S.A.	—	+8.11%	Add
18	ACMR	Acm Research Inc-class A	0%	-25.87%	Trim
19	QFIN	Qfin Holdings Inc-adr	-0.2%	—	Unchanged
20	✓	Grupo Financiero Galicia	-0.2%	-19.13%	Trim
21	IBN	Icici Bank Ltd-spon Adr	-0.2%	-19.67%	Trim
22	HDB	Hdfc Bank Ltd-adr	-0.9%	-16.65%	Trim
23	CPNG	Coupang INC	-1.3%	-52.41%	Trim
24	BZ	Kanzhun LTD - Adr	-1.4%	-16.01%	Trim
25	GRAB	Grab Holdings Limited	-1.7%	-46.23%	Trim
26	YMM	Full Truck Alliance -spn Adr	-3.4%	-80.11%	Trim
27	FUTU	Futu Holdings Ltd-adr	-3.7%	-54.46%	Trim
28	PDD	Pdd Holdings INC	-4.5%	-46.33%	Trim
29	TCOM	Trip.com Group Ltd-adr	-5.1%	-85.43%	Trim
30	SE	Sea Ltd-adr	-6%	-84.03%	Trim
31	MMYT	MakeMyTrip Limited	—	EXIT	Sold out
32	UMC	United Microelectron-sp Adr	—	NEW	New buy
33	ZH	Zhihu Inc.	—	EXIT	Sold out
34	PBR	Petroleo Brasileiro-spon Adr	—	NEW	New buy
35	BAP	Credicorp Ltd.	—	NEW	New buy
36	BEKE	Ke Holdings Inc-adr	—	EXIT	Sold out
37	TME	Tencent Music Entertainm-adr	—	EXIT	Sold out
38	IFS	Intercorp Financial Services Inc.	—	NEW	New buy
39	NTES	Netease Inc-adr	—	EXIT	Sold out
40	KC	Kingsoft Cloud Holdings-adr	—	NEW	New buy
41	BIDU	Baidu INC - Spon Adr	—	NEW	New buy
42	XPEV	Xp INC Class A	—	EXIT	Sold out
43	ZTO	Zto Express Cayman Inc-adr	—	EXIT	Sold out
44	KSPI	Jsc Kaspi.kz Adr	—	EXIT	Sold out
45	✓	Agi INC	—	NEW	New buy
46	TUYA	Tuya INC	—	EXIT	Sold out
47	CHA	Chagee Holdings Ltd-adr	—	EXIT	Sold out

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-04	13F-HR	View on EDGAR
2025-12-31	2026-01-29	13F-HR	View on EDGAR
2025-09-30	2025-10-17	13F-HR	View on EDGAR
2025-06-30	2025-07-21	13F-HR	View on EDGAR
2025-03-31	2025-04-21	13F-HR	View on EDGAR
2024-12-31	2025-01-22	13F-HR	View on EDGAR
2024-09-30	2024-10-15	13F-HR	View on EDGAR
2024-06-30	2024-07-22	13F-HR	View on EDGAR
2024-03-31	2024-04-15	13F-HR	View on EDGAR
2023-12-31	2024-01-17	13F-HR	View on EDGAR
2023-09-30	2023-10-27	13F-HR	View on EDGAR
2023-06-30	2023-08-10	13F-HR	View on EDGAR
2023-03-31	2023-05-10	13F-HR	View on EDGAR
2022-12-31	2023-02-09	13F-HR	View on EDGAR
2022-09-30	2022-11-04	13F-HR	View on EDGAR
2022-06-30	2022-07-13	13F-HR	View on EDGAR
2022-03-31	2022-05-05	13F-HR	View on EDGAR
2021-12-31	2022-02-02	13F-HR	View on EDGAR
2021-09-30	2021-11-08	13F-HR	View on EDGAR
2021-06-30	2021-08-10	13F-HR	View on EDGAR
2021-03-31	2021-05-06	13F-HR	View on EDGAR
2020-12-31	2021-02-09	13F-HR	View on EDGAR
2020-09-30	2020-11-05	13F-HR	View on EDGAR
2020-06-30	2020-07-29	13F-HR	View on EDGAR
2020-03-31	2020-05-11	13F-HR	View on EDGAR
2019-12-31	2020-02-04	13F-HR	View on EDGAR
2019-09-30	2019-11-05	13F-HR	View on EDGAR
2019-06-30	2019-08-06	13F-HR	View on EDGAR
2019-03-31	2019-05-06	13F-HR	View on EDGAR
2018-12-31	2019-02-06	13F-HR	View on EDGAR
2018-09-30	2018-11-14	13F-HR	View on EDGAR
2018-06-30	2018-08-13	13F-HR	View on EDGAR
2018-03-31	2018-05-10	13F-HR	View on EDGAR
2017-12-31	2018-02-12	13F-HR	View on EDGAR
2017-09-30	2017-11-13	13F-HR	View on EDGAR
2017-06-30	2017-08-11	13F-HR	View on EDGAR
2017-03-31	2017-05-12	13F-HR	View on EDGAR
2016-12-31	2017-02-10	13F-HR	View on EDGAR
2016-09-30	2016-11-14	13F-HR	View on EDGAR
2016-06-30	2016-08-11	13F-HR	View on EDGAR
2016-03-31	2016-05-12	13F-HR	View on EDGAR
2015-12-31	2016-02-11	13F-HR	View on EDGAR
2015-09-30	2015-11-13	13F-HR	View on EDGAR
2015-06-30	2015-08-13	13F-HR	View on EDGAR
2015-03-31	2015-05-14	13F-HR	View on EDGAR
2014-12-31	2015-02-12	13F-HR	View on EDGAR
2014-09-30	2014-11-13	13F-HR	View on EDGAR
2014-06-30	2014-08-13	13F-HR	View on EDGAR
2014-03-31	2014-05-13	13F-HR	View on EDGAR
2013-12-31	2014-02-14	13F-HR	View on EDGAR
2013-09-30	2013-11-13	13F-HR	View on EDGAR
2013-06-30	2013-08-13	13F-HR	View on EDGAR