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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 $434,773,793 across 40 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-07-21. Its ten largest share positions make up 66.88% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001398344-25-013439

Period
2025-06-30
Reported value
$435M
Holdings
40
Top 10 weight
66.88%
New
7
Sold out
4

Largest buys vs the previous quarter

SecurityShares changeApprox. value
QFINadded+183,525$7.96M
LEGNadded+191,165$6.78M
MMYTadded+47,835$4.69M
FMXnew+33,679$3.47M
FUTUnew+22,731$2.81M

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
SEreduced-100,973-$16.1M
PDDreduced-132,400-$13.9M
CPNGreduced-431,342-$12.9M
HDBreduced-143,058-$11M
YMMreduced-593,743-$7.01M

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, Q2 2025

Share positions as resolved from 13F-HR 0001398344-25-013439, largest first. % of portfolio is the value over $434,773,793, 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; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 786,119 shares; 2024Q4: 667,954 shares; 2025Q1: 632,426 shares; 2025Q2: 500,026 shares 500,026$52.3M12.04%-132,400Timeline
SESEA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 624,025 shares; 2024Q4: 401,999 shares; 2025Q1: 420,254 shares; 2025Q2: 319,281 shares 319,281$51.1M11.75%-100,973Timeline
LEGNLEGEND BIOTECH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,031,851 shares; 2024Q4: 1,185,516 shares; 2025Q1: 1,101,887 shares; 2025Q2: 1,293,052 shares 1,293,052$45.9M10.56%+191,165Timeline
YMMFULL TRUCK ALLIANCE CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,512,671 shares; 2024Q4: 3,289,042 shares; 2025Q1: 3,573,575 shares; 2025Q2: 2,979,832 shares 2,979,832$35.2M8.09%-593,743Timeline
TCOMTRIP COM GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 683,026 shares; 2024Q4: 444,364 shares; 2025Q1: 455,880 shares; 2025Q2: 384,874 shares 384,874$22.6M5.19%-71,006Timeline
GRABGRAB HOLDINGS LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,626,828 shares; 2024Q4: 4,874,167 shares; 2025Q1: 3,622,237 shares; 2025Q2: 3,668,786 shares 3,668,786$18.5M4.24%+46,549Timeline
MMYTMAKEMYTRIP LIMITED MAURITIUSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 226,799 shares; 2024Q4: 240,751 shares; 2025Q1: 135,980 shares; 2025Q2: 183,815 shares 183,815$18M4.14%+47,835Timeline
BZKANZHUN LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 460,210 shares; 2024Q4: 848,290 shares; 2025Q1: 1,074,442 shares; 2025Q2: 951,390 shares 951,390$17M3.9%-123,052Timeline
TMETENCENT MUSIC ENTMT GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 319,539 shares; 2024Q4: 756,957 shares; 2025Q1: 799,880 shares; 2025Q2: 810,263 shares 810,263$15.8M3.63%+10,383Timeline
YUMCYUM CHINA HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 893,228 shares; 2024Q4: 752,924 shares; 2025Q1: 470,842 shares; 2025Q2: 323,966 shares 323,966$14.5M3.33%-146,876Timeline
BEKEKE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,823,139 shares; 2024Q4: 954,646 shares; 2025Q1: 1,035,666 shares; 2025Q2: 812,915 shares 812,915$14.4M3.32%-222,751Timeline
ZHIHU INCZHIHU INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,417,637 shares; 2024Q4: 4,242,237 shares; 2025Q1: 3,652,757 shares; 2025Q2: 3,574,638 shares 3,574,638$14.2M3.27%-78,119
IBNICICI BK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 191,269 shares; 2024Q4: 201,525 shares; 2025Q1: 585,722 shares; 2025Q2: 384,649 shares 384,649$12.9M2.98%-201,073Timeline
CPNGCOUPANG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,230 shares; 2024Q4: 692,388 shares; 2025Q1: 852,199 shares; 2025Q2: 420,857 shares 420,857$12.6M2.9%-431,342Timeline
QFINQFIN HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 747 shares; 2024Q4: not reported; 2025Q1: 89,616 shares; 2025Q2: 273,141 shares 273,141$11.8M2.72%+183,525Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 158,398 shares; 2024Q4: 195,243 shares; 2025Q1: 44,790 shares; 2025Q2: 46,452 shares 46,452$10.5M2.42%+1,662Timeline
HDBHDFC BANK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 122,822 shares; 2024Q4: 138,572 shares; 2025Q1: 261,894 shares; 2025Q2: 118,836 shares 118,836$9.11M2.1%-143,058Timeline
NTESNETEASE COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 92,515 shares; 2024Q4: 89,650 shares; 2025Q1: 42,850 shares; 2025Q2: 57,127 shares 57,127$7.69M1.77%+14,277Timeline
ITUBITAU UNIBANCO HLDG S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 235,048 shares; 2024Q4: 128,201 shares; 2025Q1: 1,013,725 shares; 2025Q2: 1,126,855 shares 1,126,855$7.65M1.76%+113,130Timeline
ATATATOUR LIFESTYLE HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 223,059 shares; 2024Q4: 222,818 shares; 2025Q1: 219,344 shares; 2025Q2: 196,750 shares 196,750$6.4M1.47%-22,594Timeline
ACMRACM RESH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 283,730 shares; 2024Q4: 262,451 shares; 2025Q1: 248,226 shares; 2025Q2: 221,295 shares 221,295$5.73M1.32%-26,931Timeline
MELIMERCADOLIBRE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 843 shares; 2024Q4: 369 shares; 2025Q1: 1,479 shares; 2025Q2: 1,681 shares 1,681$4.39M1.01%+202Timeline
MUMICRON TECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 71,005 shares; 2024Q4: 71,005 shares; 2025Q1: 44,040 shares; 2025Q2: 31,811 shares 31,811$3.92M0.9%-12,229Timeline
FMXFOMENTO ECONOMICO MEXICANO SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 33,679 shares 33,679$3.47M0.8%newTimeline
FUTUFUTU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 22,731 shares 22,731$2.81M0.65%newTimeline
INFYINFOSYS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 24,767 shares; 2024Q4: 266,270 shares; 2025Q1: 346,180 shares; 2025Q2: 148,794 shares 148,794$2.76M0.63%-197,386Timeline
KSPIKASPI KZ JSCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 807 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 24,941 shares 24,941$2.12M0.49%newTimeline
LAM RESEARCH CORPLAM RESEARCH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,528 shares; 2024Q4: 55,280 shares; 2025Q1: 36,604 shares; 2025Q2: 21,169 shares 21,169$2.06M0.47%-15,435
TUYATUYA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 704,109 shares 704,109$1.63M0.37%newTimeline
NUNU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 447,124 shares; 2024Q4: 218,458 shares; 2025Q1: 281,650 shares; 2025Q2: 104,239 shares 104,239$1.43M0.33%-177,411Timeline
CHACHAGEE HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 53,656 shares 53,656$1.4M0.32%newTimeline
JDJD.COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,065 shares; 2024Q4: 10,603 shares; 2025Q1: 113,931 shares; 2025Q2: 23,508 shares 23,508$767K0.18%-90,423Timeline
BVNCOMPANIA DE MINAS BUENAVENTUQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 25,199 shares; 2025Q1: 31,757 shares; 2025Q2: 27,087 shares 27,087$445K0.1%-4,670Timeline
FCXFREEPORT MCMORAN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,262 shares; 2024Q4: 9,963 shares; 2025Q1: 9,818 shares; 2025Q2: 8,368 shares 8,368$363K0.08%-1,450Timeline
GRUPO FINANCIERO GALICIAGRUPO FINANCIERO GALICIAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 6,429 shares 6,429$324K0.07%new
PBRPETROLEO BRASILEIRO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 31,318 shares; 2024Q4: 28,361 shares; 2025Q1: 27,949 shares; 2025Q2: 23,829 shares 23,829$298K0.07%-4,120Timeline
MKORMATTHEWS ASIA FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,032 shares; 2024Q4: 10,032 shares; 2025Q1: 10,032 shares; 2025Q2: 10,032 shares 10,032$282K0.06%0Timeline
ADVEMATTHEWS INTL FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,000 shares 5,000$179K0.04%newTimeline
SKMSK TELECOM CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,259 shares; 2024Q4: 2,550 shares; 2025Q1: 2,484 shares; 2025Q2: 1,656 shares 1,656$38.7K0.01%-828Timeline

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$2.18M0

Sold out in Q2 2025

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

SecurityShares beforeValue beforeType
BABAALIBABA GROUP HLDG LTD21,783$2.88Mshares
AVGOBROADCOM INC7,326$1.23Mshares
CREDICORP LTDCREDICORP LTD2,634$490Kshares
VALEVALE S A28,719$287Kshares

How Q2 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 0001398344-25-013439 base2025-07-21acceptance time not in the bulk data set