1y return−14.2%S&P 500 +20.9%
3y return+20.5%S&P 500 +68.5%
5y return−32.6%S&P 500 +74.5%
10y return+50.5%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $150 against $357 in the S&P 500.2
Matthews International Capital Management LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| UMCUnited Microelectronics Corp | $39.9M | 13.7% | +49.9% |
| TSMTaiwan Semiconductor Mfg Ltd | $28.0M | 9.6% | −6.2% |
| LEGNLegend Biotech Corp | $26.5M | 9.1% | |
| MUMicron Technology Inc | $19.6M | 6.7% | −41.8% |
| ACMRAcm Resh Inc | $16.8M | 5.8% | −4.6% |
| YUMCYum China Hldgs Inc | $15.2M | 5.2% | −33.1% |
| ATATAtour Lifestyle Hldgs Ltd | $11.1M | 3.8% | +59.8% |
| ITUBItau Unibanco Hldg S A | $11.1M | 3.8% | +40.1% |
| China Yuchai Intl LtdCUSIP G21082105 | $10.2M | 3.5% | −33.8% |
| BZKanzhun Limited | $10.1M | 3.5% | +13.1% |
| PDDPdd Holdings Inc | $10.0M | 3.4% | −33.9% |
| Lam Research CorpCUSIP 512807108 | $8.8M | 3.0% | −27.9% |
| Grupo Financiero GaliciaCUSIP 399909I00 | $7.5M | 2.6% | −10.8% |
| YMMFull Truck Alliance Co Ltd | $7.0M | 2.4% | +236.4% |
| Nu Hldgs LtdCUSIP G6683N103 | $6.7M | 2.3% | |
| IBNIcici Bank Limited | $6.3M | 2.2% | −26.7% |
| FCXFreeport-mcmoran Inc | $6.3M | 2.1% | +13.4% |
| QFINQfin Holdings Inc | $5.9M | 2.0% | +34.3% |
| BVNCompania De Minas Buenaventu | $5.1M | 1.8% | +35.7% |
| Credicorp LtdCUSIP G2519Y108 | $5.0M | 1.7% | |
| HDBHdfc Bank Ltd | $4.9M | 1.7% | −34.3% |
| Intercorp Finl Svcs IncCUSIP P5626F128 | $4.7M | 1.6% | +13.2% |
| PBRPetroleo Brasileiro S A | $4.6M | 1.6% | |
| KCKingsoft Cloud Hldgs Ltd | $4.3M | 1.5% | +116.8% |
| FMXFomento Economico Mexicano S | $4.0M | 1.4% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| TSMTaiwan Semiconductor Mfg Ltd | June 30, 2020 | +741.2% | $28.0M |
| Lam Research CorpCUSIP 512807108 | March 31, 2023 | +717.4% | $8.8M |
| Nu Hldgs LtdCUSIP G6683N103 | March 31, 2023 | +180.7% | $6.7M |
| MKORMatthews Asia Fds - Korea Active Etf | September 30, 2024 | +157.8% | $334K |
| BVNCompania De Minas Buenaventu | December 31, 2024 | +154.3% | $5.1M |
| ATATAtour Lifestyle Hldgs Ltd | June 30, 2024 | +73.3% | $11.1M |
| FCXFreeport-mcmoran Inc | March 31, 2023 | +53.7% | $6.3M |
| IBNIcici Bank Limited | December 31, 2021 | +46.7% | $6.3M |
| CPNGCoupang Inc | June 30, 2022 | +36.2% | $3.1M |
| ADVEMatthews Intl Fds - Asia Dividend Ac | June 30, 2025 | +28.4% | $230K |
Sold off last quarter
- FUTUFutu Hldgs Ltd was $9.4M
- SESea Ltd was $2.4M
- TCOMTrip Com Group Ltd was $2.0M
- Globant S ACUSIP L44385109 was $295K
- SKMSk Telecom Ltd was $97K
- Agi IncCUSIP G0118C105 was $70K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +6.4% | +14.8% |
| March 31, 2026 | −16.1% | −4.6% |
| December 31, 2025 | −12.9% | +2.4% |
| September 30, 2025 | +10.2% | +7.8% |
| June 30, 2025 | +4.3% | +10.5% |
| March 31, 2025 | +7.0% | −4.6% |
| December 31, 2024 | −2.8% | +2.1% |
| September 30, 2024 | +12.9% | +5.4% |
| June 30, 2024 | +6.2% | +4.0% |
| March 31, 2024 | +2.2% | +10.0% |
| December 31, 2023 | +4.0% | +11.2% |
| September 30, 2023 | +1.7% | −3.6% |
| June 30, 2023 | −6.5% | +8.3% |
| March 31, 2023 | +9.2% | +7.0% |
| December 31, 2022 | +14.5% | +7.1% |
| September 30, 2022 | −12.5% | −5.3% |
| June 30, 2022 | +1.2% | −16.5% |
| March 31, 2022 | −22.8% | −4.9% |
| December 31, 2021 | −13.7% | +10.7% |
| September 30, 2021 | −18.9% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Matthews International Capital Management LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1028074&type=13F-HR&dateb=&owner=include&count=40CIK 1028074
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1028074/000139834426013161/Filed July 31, 2026 · accession 0001398344-26-013161