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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 $329,420,720 across 40 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-01-29. Its ten largest share positions make up 60.74% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001398344-26-001533

Period
2025-12-31
Reported value
$329M
Holdings
40
Top 10 weight
60.74%
New
3
Sold out
3

Largest buys vs the previous quarter

SecurityShares changeApprox. value
FUTUadded+102,918$16.9M
GRUPO FINANCIERO GALICIAadded+133,772$7.22M
NUadded+296,385$4.96M
HDBadded+126,650$4.63M
VALEnew+132,432$1.73M

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
PDDreduced-123,162-$14M
TCOMreduced-116,803-$8.4M
BEKEreduced-460,293-$7.25M
TMEreduced-408,285-$7.16M
YMMreduced-555,249-$5.96M

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, Q4 2025

Share positions as resolved from 13F-HR 0001398344-26-001533, largest first. % of portfolio is the value over $329,420,720, 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; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 786,119 shares; 2024Q4: 667,954 shares; 2025Q1: 632,426 shares; 2025Q2: 500,026 shares; 2025Q3: 493,802 shares; 2025Q4: 370,640 shares 370,640$42M12.76%-123,162Timeline
FUTUFUTU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 22,731 shares; 2025Q3: 47,988 shares; 2025Q4: 150,906 shares 150,906$24.8M7.52%+102,918Timeline
SESEA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 624,025 shares; 2024Q4: 401,999 shares; 2025Q1: 420,254 shares; 2025Q2: 319,281 shares; 2025Q3: 213,226 shares; 2025Q4: 179,241 shares 179,241$22.9M6.94%-33,985Timeline
LEGNLEGEND BIOTECH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 956,824 shares 956,824$20.8M6.31%-71,623Timeline
TCOMTRIP COM GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 683,026 shares; 2024Q4: 444,364 shares; 2025Q1: 455,880 shares; 2025Q2: 384,874 shares; 2025Q3: 388,145 shares; 2025Q4: 271,342 shares 271,342$19.5M5.92%-116,803Timeline
BZKANZHUN LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 829,409 shares 829,409$16.9M5.13%-200,402Timeline
YUMCYUM CHINA HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 893,228 shares; 2024Q4: 752,924 shares; 2025Q1: 470,842 shares; 2025Q2: 323,966 shares; 2025Q3: 311,290 shares; 2025Q4: 312,126 shares 312,126$14.9M4.52%+836Timeline
YMMFULL TRUCK ALLIANCE CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,296,189 shares 1,296,189$13.9M4.22%-555,249Timeline
HDBHDFC BANK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 122,822 shares; 2024Q4: 138,572 shares; 2025Q1: 261,894 shares; 2025Q2: 118,836 shares; 2025Q3: 217,266 shares; 2025Q4: 343,916 shares 343,916$12.6M3.81%+126,650Timeline
GRABGRAB HOLDINGS LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 2,367,470 shares 2,367,470$11.8M3.59%-748,562Timeline
GRUPO FINANCIERO GALICIAGRUPO FINANCIERO GALICIAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 6,429 shares; 2025Q3: 73,157 shares; 2025Q4: 206,929 shares 206,929$11.2M3.39%+133,772
IBNICICI BK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 191,269 shares; 2024Q4: 201,525 shares; 2025Q1: 585,722 shares; 2025Q2: 384,649 shares; 2025Q3: 369,773 shares; 2025Q4: 369,492 shares 369,492$11M3.34%-281Timeline
MMYTMAKEMYTRIP LIMITED MAURITIUSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 226,799 shares; 2024Q4: 240,751 shares; 2025Q1: 135,980 shares; 2025Q2: 183,815 shares; 2025Q3: 180,121 shares; 2025Q4: 126,471 shares 126,471$10.4M3.15%-53,650Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 158,398 shares; 2024Q4: 195,243 shares; 2025Q1: 44,790 shares; 2025Q2: 46,452 shares; 2025Q3: 36,135 shares; 2025Q4: 32,727 shares 32,727$9.95M3.02%-3,408Timeline
CPNGCOUPANG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,230 shares; 2024Q4: 692,388 shares; 2025Q1: 852,199 shares; 2025Q2: 420,857 shares; 2025Q3: 463,589 shares; 2025Q4: 369,975 shares 369,975$8.73M2.65%-93,614Timeline
ITUBITAU UNIBANCO HLDG S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,149,948 shares 1,149,948$8.23M2.5%+39,254Timeline
MUMICRON TECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 71,005 shares; 2024Q4: 71,005 shares; 2025Q1: 44,040 shares; 2025Q2: 31,811 shares; 2025Q3: 36,344 shares; 2025Q4: 27,726 shares 27,726$7.91M2.4%-8,618Timeline
ZHIHU INCZHIHU INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 2,371,187 shares 2,371,187$7.78M2.36%-527,378
ACMRACM RESH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 283,730 shares; 2024Q4: 262,451 shares; 2025Q1: 248,226 shares; 2025Q2: 221,295 shares; 2025Q3: 203,511 shares; 2025Q4: 187,250 shares 187,250$7.39M2.24%-16,261Timeline
NUNU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 447,124 shares; 2024Q4: 218,458 shares; 2025Q1: 281,650 shares; 2025Q2: 104,239 shares; 2025Q3: 135,765 shares; 2025Q4: 432,150 shares 432,150$7.23M2.2%+296,385Timeline
ATATATOUR LIFESTYLE HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 223,059 shares; 2024Q4: 222,818 shares; 2025Q1: 219,344 shares; 2025Q2: 196,750 shares; 2025Q3: 195,739 shares; 2025Q4: 163,989 shares 163,989$6.46M1.96%-31,750Timeline
QFINQFIN HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 747 shares; 2024Q4: not reported; 2025Q1: 89,616 shares; 2025Q2: 273,141 shares; 2025Q3: 322,848 shares; 2025Q4: 277,149 shares 277,149$5.34M1.62%-45,699Timeline
BEKEKE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 269,393 shares 269,393$4.25M1.29%-460,293Timeline
TMETENCENT MUSIC ENTMT GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 319,539 shares; 2024Q4: 756,957 shares; 2025Q1: 799,880 shares; 2025Q2: 810,263 shares; 2025Q3: 646,353 shares; 2025Q4: 238,068 shares 238,068$4.17M1.27%-408,285Timeline
LAM RESEARCH CORPLAM RESEARCH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,528 shares; 2024Q4: 55,280 shares; 2025Q1: 36,604 shares; 2025Q2: 21,169 shares; 2025Q3: 22,749 shares; 2025Q4: 22,105 shares 22,105$3.78M1.15%-644
NTESNETEASE COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 92,515 shares; 2024Q4: 89,650 shares; 2025Q1: 42,850 shares; 2025Q2: 57,127 shares; 2025Q3: 23,675 shares; 2025Q4: 23,901 shares 23,901$3.29M1%+226Timeline
FMXFOMENTO ECONOMICO MEXICANO SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 33,679 shares; 2025Q3: 31,053 shares; 2025Q4: 31,291 shares 31,291$3.16M0.96%+238Timeline
CYDCHINA YUCHAI INTL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 54,874 shares; 2025Q4: 61,869 shares 61,869$2.2M0.67%+6,995Timeline
VALEVALE S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 29,168 shares; 2024Q4: 29,168 shares; 2025Q1: 28,719 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 132,432 shares 132,432$1.73M0.52%newTimeline
XPXP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 320,053 shares; 2025Q4: 101,999 shares 101,999$1.67M0.51%-218,054Timeline
ZTOZTO EXPRESS CAYMAN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 70,800 shares 70,800$1.48M0.45%newTimeline
BVNCOMPANIA DE MINAS BUENAVENTUQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 25,199 shares; 2025Q1: 31,757 shares; 2025Q2: 27,087 shares; 2025Q3: 23,818 shares; 2025Q4: 22,089 shares 22,089$615K0.19%-1,729Timeline
GLOBGLOBANT S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,117 shares; 2024Q4: 2,706 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 5,919 shares 5,919$387K0.12%newTimeline
FCXFREEPORT MCMORAN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,262 shares; 2024Q4: 9,963 shares; 2025Q1: 9,818 shares; 2025Q2: 8,368 shares; 2025Q3: 7,353 shares; 2025Q4: 7,353 shares 7,353$373K0.11%0Timeline
KSPIKASPI KZ JSCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 807 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 24,941 shares; 2025Q3: 2,834 shares; 2025Q4: 2,762 shares 2,762$216K0.07%-72Timeline
ADVEMATTHEWS INTL FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,000 shares; 2025Q3: 5,000 shares; 2025Q4: 5,000 shares 5,000$196K0.06%0Timeline
MKORMATTHEWS ASIA FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,032 shares; 2024Q4: 10,032 shares; 2025Q1: 10,032 shares; 2025Q2: 10,032 shares; 2025Q3: 5,032 shares; 2025Q4: 5,032 shares 5,032$173K0.05%0Timeline
SKMSK TELECOM CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,259 shares; 2024Q4: 2,550 shares; 2025Q1: 2,484 shares; 2025Q2: 1,656 shares; 2025Q3: 1,656 shares; 2025Q4: 2,491 shares 2,491$51.1K0.02%+835Timeline
TUYATUYA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 704,109 shares; 2025Q3: 704,109 shares; 2025Q4: 8,553 shares 8,553$18K0.01%-695,556Timeline
CHACHAGEE HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 53,656 shares; 2025Q3: 53,656 shares; 2025Q4: 698 shares 698$8.12K<0.01%-52,958Timeline

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
MELIMERCADOLIBRE INC1,645$3.84Mshares
ZTO EXPRESS CAYMAN INCZTO EXPRESS CAYMAN INC70,800$1.36Mprincipal
JDJD.COM INC11,165$391Kshares

How Q4 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 0001398344-26-001533 base2026-01-29acceptance time not in the bulk data set