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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 $429,488,511 across 40 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-10-17. Its ten largest share positions make up 65.15% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001398344-25-019231

Period
2025-09-30
Reported value
$429M
Holdings
40
Top 10 weight
65.15%
New
2
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
XPnew+320,053$6.01M
FUTUadded+25,257$4.39M
HDBadded+98,430$3.36M
CYDnew+54,874$2.27M
GRUPO FINANCIERO GALICIAadded+66,728$1.84M

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-106,055-$19M
YMMreduced-1,128,394-$14.6M
LEGNreduced-264,605-$8.63M
NTESreduced-33,452-$5.08M
TMEreduced-163,910-$3.83M

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, Q3 2025

Share positions as resolved from 13F-HR 0001398344-25-019231, largest first. % of portfolio is the value over $429,488,511, 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; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 786,119 shares; 2024Q4: 667,954 shares; 2025Q1: 632,426 shares; 2025Q2: 500,026 shares; 2025Q3: 493,802 shares 493,802$65.3M15.2%-6,224Timeline
SESEA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 624,025 shares; 2024Q4: 401,999 shares; 2025Q1: 420,254 shares; 2025Q2: 319,281 shares; 2025Q3: 213,226 shares 213,226$38.1M8.87%-106,055Timeline
LEGNLEGEND BIOTECH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 1,028,447 shares 1,028,447$33.5M7.81%-264,605Timeline
TCOMTRIP COM GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 683,026 shares; 2024Q4: 444,364 shares; 2025Q1: 455,880 shares; 2025Q2: 384,874 shares; 2025Q3: 388,145 shares 388,145$29.2M6.8%+3,271Timeline
BZKANZHUN LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 460,210 shares; 2024Q4: 848,290 shares; 2025Q1: 1,074,442 shares; 2025Q2: 951,390 shares; 2025Q3: 1,029,811 shares 1,029,811$24.1M5.6%+78,421Timeline
YMMFULL TRUCK ALLIANCE CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 1,851,438 shares 1,851,438$24M5.59%-1,128,394Timeline
GRABGRAB HOLDINGS LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 3,116,032 shares 3,116,032$18.8M4.37%-552,754Timeline
MMYTMAKEMYTRIP LIMITED MAURITIUSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 226,799 shares; 2024Q4: 240,751 shares; 2025Q1: 135,980 shares; 2025Q2: 183,815 shares; 2025Q3: 180,121 shares 180,121$16.9M3.93%-3,694Timeline
TMETENCENT MUSIC ENTMT GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 319,539 shares; 2024Q4: 756,957 shares; 2025Q1: 799,880 shares; 2025Q2: 810,263 shares; 2025Q3: 646,353 shares 646,353$15.1M3.51%-163,910Timeline
CPNGCOUPANG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,230 shares; 2024Q4: 692,388 shares; 2025Q1: 852,199 shares; 2025Q2: 420,857 shares; 2025Q3: 463,589 shares 463,589$14.9M3.48%+42,732Timeline
ZHIHU INCZHIHU INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 2,898,565 shares 2,898,565$14.7M3.42%-676,073
BEKEKE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,823,139 shares; 2024Q4: 954,646 shares; 2025Q1: 1,035,666 shares; 2025Q2: 812,915 shares; 2025Q3: 729,686 shares 729,686$13.9M3.23%-83,229Timeline
YUMCYUM CHINA HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 893,228 shares; 2024Q4: 752,924 shares; 2025Q1: 470,842 shares; 2025Q2: 323,966 shares; 2025Q3: 311,290 shares 311,290$13.4M3.11%-12,676Timeline
IBNICICI BK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 191,269 shares; 2024Q4: 201,525 shares; 2025Q1: 585,722 shares; 2025Q2: 384,649 shares; 2025Q3: 369,773 shares 369,773$11.2M2.6%-14,876Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 158,398 shares; 2024Q4: 195,243 shares; 2025Q1: 44,790 shares; 2025Q2: 46,452 shares; 2025Q3: 36,135 shares 36,135$10.1M2.35%-10,317Timeline
QFINQFIN HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 747 shares; 2024Q4: not reported; 2025Q1: 89,616 shares; 2025Q2: 273,141 shares; 2025Q3: 322,848 shares 322,848$9.29M2.16%+49,707Timeline
FUTUFUTU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 22,731 shares; 2025Q3: 47,988 shares 47,988$8.35M1.94%+25,257Timeline
ITUBITAU UNIBANCO HLDG S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 235,048 shares; 2024Q4: 128,201 shares; 2025Q1: 1,013,725 shares; 2025Q2: 1,126,855 shares; 2025Q3: 1,110,694 shares 1,110,694$8.15M1.9%-16,161Timeline
ACMRACM RESH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 283,730 shares; 2024Q4: 262,451 shares; 2025Q1: 248,226 shares; 2025Q2: 221,295 shares; 2025Q3: 203,511 shares 203,511$7.96M1.85%-17,784Timeline
HDBHDFC BANK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 122,822 shares; 2024Q4: 138,572 shares; 2025Q1: 261,894 shares; 2025Q2: 118,836 shares; 2025Q3: 217,266 shares 217,266$7.42M1.73%+98,430Timeline
ATATATOUR LIFESTYLE HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 223,059 shares; 2024Q4: 222,818 shares; 2025Q1: 219,344 shares; 2025Q2: 196,750 shares; 2025Q3: 195,739 shares 195,739$7.36M1.71%-1,011Timeline
MUMICRON TECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 71,005 shares; 2024Q4: 71,005 shares; 2025Q1: 44,040 shares; 2025Q2: 31,811 shares; 2025Q3: 36,344 shares 36,344$6.08M1.42%+4,533Timeline
XPXP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 320,053 shares 320,053$6.01M1.4%newTimeline
MELIMERCADOLIBRE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 843 shares; 2024Q4: 369 shares; 2025Q1: 1,479 shares; 2025Q2: 1,681 shares; 2025Q3: 1,645 shares 1,645$3.84M0.9%-36Timeline
NTESNETEASE COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 92,515 shares; 2024Q4: 89,650 shares; 2025Q1: 42,850 shares; 2025Q2: 57,127 shares; 2025Q3: 23,675 shares 23,675$3.6M0.84%-33,452Timeline
FMXFOMENTO ECONOMICO MEXICANO SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 33,679 shares; 2025Q3: 31,053 shares 31,053$3.06M0.71%-2,626Timeline
LAM RESEARCH CORPLAM RESEARCH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,528 shares; 2024Q4: 55,280 shares; 2025Q1: 36,604 shares; 2025Q2: 21,169 shares; 2025Q3: 22,749 shares 22,749$3.05M0.71%+1,580
CYDCHINA YUCHAI INTL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 54,874 shares 54,874$2.27M0.53%newTimeline
NUNU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 447,124 shares; 2024Q4: 218,458 shares; 2025Q1: 281,650 shares; 2025Q2: 104,239 shares; 2025Q3: 135,765 shares 135,765$2.17M0.51%+31,526Timeline
GRUPO FINANCIERO GALICIAGRUPO FINANCIERO GALICIAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 6,429 shares; 2025Q3: 73,157 shares 73,157$2.02M0.47%+66,728
TUYATUYA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 704,109 shares; 2025Q3: 704,109 shares 704,109$1.74M0.4%0Timeline
CHACHAGEE HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 53,656 shares; 2025Q3: 53,656 shares 53,656$888K0.21%0Timeline
BVNCOMPANIA DE MINAS BUENAVENTUQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 25,199 shares; 2025Q1: 31,757 shares; 2025Q2: 27,087 shares; 2025Q3: 23,818 shares 23,818$579K0.13%-3,269Timeline
JDJD.COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,065 shares; 2024Q4: 10,603 shares; 2025Q1: 113,931 shares; 2025Q2: 23,508 shares; 2025Q3: 11,165 shares 11,165$391K0.09%-12,343Timeline
FCXFREEPORT MCMORAN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,262 shares; 2024Q4: 9,963 shares; 2025Q1: 9,818 shares; 2025Q2: 8,368 shares; 2025Q3: 7,353 shares 7,353$288K0.07%-1,015Timeline
KSPIKASPI KZ JSCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 807 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 24,941 shares; 2025Q3: 2,834 shares 2,834$231K0.05%-22,107Timeline
ADVEMATTHEWS INTL FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,000 shares; 2025Q3: 5,000 shares 5,000$192K0.04%0Timeline
MKORMATTHEWS ASIA FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,032 shares; 2024Q4: 10,032 shares; 2025Q1: 10,032 shares; 2025Q2: 10,032 shares; 2025Q3: 5,032 shares 5,032$152K0.04%-5,000Timeline
SKMSK TELECOM CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,259 shares; 2024Q4: 2,550 shares; 2025Q1: 2,484 shares; 2025Q2: 1,656 shares; 2025Q3: 1,656 shares 1,656$35.8K0.01%0Timeline

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% 9/0principal70,800$1.36M-2,127,200

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
INFYINFOSYS LTD148,794$2.76Mshares
PBRPETROLEO BRASILEIRO S A23,829$298Kshares

How Q3 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 0001398344-25-019231 base2025-10-17acceptance time not in the bulk data set