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MATTHEWS INTERNATIONAL CAPITAL MANAGEMENT LLC

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13F filer, CIK 1028074, SAN FRANCISCO, CA

MATTHEWS INTERNATIONAL CAPITAL MANAGEMENT LLC reported $484,357,889 across 37 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-04-21. Its ten largest share positions make up 71.18% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001398344-25-007361

Period
2025-03-31
Reported value
$484M
Holdings
37
Top 10 weight
71.18%
New
1
Sold out
6

Largest buys vs the previous quarter

SecurityShares changeApprox. value
IBNadded+384,197$12.1M
HDBadded+123,322$8.19M
ITUBadded+885,524$4.87M
BZadded+226,152$4.34M
JDadded+103,328$4.25M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
TSMreduced-150,453-$25M
YUMCreduced-282,082-$14.7M
MMYTreduced-104,771-$10.3M
BILIexited-351,423-$6.36M
GRABreduced-1,251,930-$5.67M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001398344-25-007361, largest first. % of portfolio is the value over $484,357,889, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
PDDPDD HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 786,119 shares; 2024Q4: 667,954 shares; 2025Q1: 632,426 shares 632,426$74.8M15.45%-35,528Timeline
SESEA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 624,025 shares; 2024Q4: 401,999 shares; 2025Q1: 420,254 shares 420,254$54.8M11.32%+18,255Timeline
YMMFULL TRUCK ALLIANCE CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,512,671 shares; 2024Q4: 3,289,042 shares; 2025Q1: 3,573,575 shares 3,573,575$45.6M9.42%+284,533Timeline
LEGNLEGEND BIOTECH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,031,851 shares; 2024Q4: 1,185,516 shares; 2025Q1: 1,101,887 shares 1,101,887$37.4M7.72%-83,629Timeline
TCOMTRIP COM GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 683,026 shares; 2024Q4: 444,364 shares; 2025Q1: 455,880 shares 455,880$29M5.98%+11,516Timeline
YUMCYUM CHINA HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 893,228 shares; 2024Q4: 752,924 shares; 2025Q1: 470,842 shares 470,842$24.5M5.06%-282,082Timeline
BEKEKE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,823,139 shares; 2024Q4: 954,646 shares; 2025Q1: 1,035,666 shares 1,035,666$20.8M4.3%+81,020Timeline
BZKANZHUN LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 460,210 shares; 2024Q4: 848,290 shares; 2025Q1: 1,074,442 shares 1,074,442$20.6M4.25%+226,152Timeline
CPNGCOUPANG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,230 shares; 2024Q4: 692,388 shares; 2025Q1: 852,199 shares 852,199$18.7M3.86%+159,811Timeline
IBNICICI BK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 191,269 shares; 2024Q4: 201,525 shares; 2025Q1: 585,722 shares 585,722$18.5M3.81%+384,197Timeline
HDBHDFC BANK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 122,822 shares; 2024Q4: 138,572 shares; 2025Q1: 261,894 shares 261,894$17.4M3.59%+123,322Timeline
GRABGRAB HOLDINGS LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,626,828 shares; 2024Q4: 4,874,167 shares; 2025Q1: 3,622,237 shares 3,622,237$16.4M3.39%-1,251,930Timeline
ZHIHU INCZHIHU INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,417,637 shares; 2024Q4: 4,242,237 shares; 2025Q1: 3,652,757 shares 3,652,757$15.6M3.22%-589,480
MMYTMAKEMYTRIP LIMITED MAURITIUSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 226,799 shares; 2024Q4: 240,751 shares; 2025Q1: 135,980 shares 135,980$13.3M2.75%-104,771Timeline
TMETENCENT MUSIC ENTMT GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 319,539 shares; 2024Q4: 756,957 shares; 2025Q1: 799,880 shares 799,880$11.5M2.38%+42,923Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 158,398 shares; 2024Q4: 195,243 shares; 2025Q1: 44,790 shares 44,790$7.44M1.54%-150,453Timeline
INFYINFOSYS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 24,767 shares; 2024Q4: 266,270 shares; 2025Q1: 346,180 shares 346,180$6.32M1.3%+79,910Timeline
ATATATOUR LIFESTYLE HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 223,059 shares; 2024Q4: 222,818 shares; 2025Q1: 219,344 shares 219,344$6.22M1.28%-3,474Timeline
ACMRACM RESH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 283,730 shares; 2024Q4: 262,451 shares; 2025Q1: 248,226 shares 248,226$5.79M1.2%-14,225Timeline
ITUBITAU UNIBANCO HLDG S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 235,048 shares; 2024Q4: 128,201 shares; 2025Q1: 1,013,725 shares 1,013,725$5.58M1.15%+885,524Timeline
JDJD.COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,065 shares; 2024Q4: 10,603 shares; 2025Q1: 113,931 shares 113,931$4.68M0.97%+103,328Timeline
NTESNETEASE COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 92,515 shares; 2024Q4: 89,650 shares; 2025Q1: 42,850 shares 42,850$4.41M0.91%-46,800Timeline
QFINQFIN HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 747 shares; 2024Q4: not reported; 2025Q1: 89,616 shares 89,616$4.02M0.83%newTimeline
MUMICRON TECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 71,005 shares; 2024Q4: 71,005 shares; 2025Q1: 44,040 shares 44,040$3.83M0.79%-26,965Timeline
MELIMERCADOLIBRE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 843 shares; 2024Q4: 369 shares; 2025Q1: 1,479 shares 1,479$2.89M0.6%+1,110Timeline
NUNU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 447,124 shares; 2024Q4: 218,458 shares; 2025Q1: 281,650 shares 281,650$2.88M0.6%+63,192Timeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 40,354 shares; 2024Q4: 13,699 shares; 2025Q1: 21,783 shares 21,783$2.88M0.59%+8,084Timeline
LAM RESEARCH CORPLAM RESEARCH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,528 shares; 2024Q4: 55,280 shares; 2025Q1: 36,604 shares 36,604$2.66M0.55%-18,676
AVGOBROADCOM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 89,415 shares; 2024Q4: 36,808 shares; 2025Q1: 7,326 shares 7,326$1.23M0.25%-29,482Timeline
BVNCOMPANIA DE MINAS BUENAVENTUQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 25,199 shares; 2025Q1: 31,757 shares 31,757$496K0.1%+6,558Timeline
CREDICORP LTDCREDICORP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,968 shares; 2024Q4: 3,843 shares; 2025Q1: 2,634 shares 2,634$490K0.1%-1,209
PBRPETROLEO BRASILEIRO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 31,318 shares; 2024Q4: 28,361 shares; 2025Q1: 27,949 shares 27,949$401K0.08%-412Timeline
FCXFREEPORT MCMORAN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,262 shares; 2024Q4: 9,963 shares; 2025Q1: 9,818 shares 9,818$372K0.08%-145Timeline
VALEVALE S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 29,168 shares; 2024Q4: 29,168 shares; 2025Q1: 28,719 shares 28,719$287K0.06%-449Timeline
MKORMATTHEWS ASIA FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,032 shares; 2024Q4: 10,032 shares; 2025Q1: 10,032 shares 10,032$215K0.04%0Timeline
SKMSK TELECOM CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,259 shares; 2024Q4: 2,550 shares; 2025Q1: 2,484 shares 2,484$52.8K0.01%-66Timeline

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
ZTO EXPRESS CAYMAN INCZTO EXPRESS CAYMAN INC NOTE 1.500% 9/0principal2,198,000$2.2M-4,358,000

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
BILIBILIBILI INC351,423$6.36Mshares
CTSHCOGNIZANT TECHNOLOGY SOLUTIO50,108$3.85Mshares
PONYPONY AI INC115,290$1.65Mshares
GLOBGLOBANT S A2,706$580Kshares
BCHBANCO DE CHILE17,644$400Kshares
PSMTPRICESMART INC3,288$303Kshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001398344-25-007361 base2025-04-21acceptance time not in the bulk data set