Matthews International Capital Management LLC
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 31, 2026), Matthews International Capital Management LLC reported 32 stock positions worth $291.7 million. Its top holding was United Microelectron-SP ADR (UMC) at 13.7% of the portfolio, followed by Taiwan Semiconductor-SP ADR (TSM, 9.6%) and Legend Biotech Corp.-ADR (LEGN, 9.1%). Compared with Q1 2026, it opened 1 new position, sold out of 6, added to 12 and reduced 17. The biggest buy was United Microelectron-SP ADR (UMC, shares +50%) and the biggest sale Yum China (YUMC, shares −33%).
- Most Recent 13F
- Q2 2026
- Location
- SAN FRANCISCO, CA
- CIK
- 0001028074
- Portfolio Value
- $291.7M (Q2 2026)
- SEC Filing
- 0001398344-26-013161 ↗ filed Jul 31, 2026
Holdings Value
Holdings 32 stocks · $291.7M
| UMC United Microelectron-SP ADR | 13.67% | 1,465,694 | $39.9M | Add +49.9% |
| TSM Taiwan Semiconductor-SP ADR | 9.59% | 58,609 | $28.0M | Reduce -6.2% |
| LEGN Legend Biotech Corp.-ADR | 9.08% | 917,266 | $26.5M | Reduce -0.9% |
| MU Micron Technology Inc. | 6.71% | 16,950 | $19.6M | Reduce -41.8% |
| ACMR Acm Research Inc. Class A | 5.76% | 132,396 | $16.8M | Reduce -4.6% |
| YUMC Yum China Holdings Inc. | 5.20% | 371,166 | $15.2M | Reduce -33.1% |
| ATAT Atour Lifestyle Holdings-ADR | 3.82% | 350,616 | $11.1M | Add +59.8% |
| ITUB Itau Unibanco H-Spon PRF ADR | 3.80% | 1,356,913 | $11.1M | Add +40.1% |
| CYD China Yuchai Intl Ltd. | 3.49% | 214,620 | $10.2M | Reduce -33.8% |
| BZ Kanzhun Ltd. - ADR | 3.48% | 787,745 | $10.1M | Add +13.1% |
| PDD PDD Holdings Inc. | 3.44% | 131,480 | $10.0M | Reduce -33.9% |
| LRCX Lam Research Corp. | 3.01% | 20,295 | $8.8M | Reduce -27.9% |
| GRUPO FINANCIERO GALICIA | 2.56% | 149,289 | $7.5M | Reduce -10.8% |
| YMM Full Truck Alliance -SPN ADR | 2.41% | 867,295 | $7.0M | Add +236.4% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 2.31% | 504,130 | $6.7M | Reduce -0.3% |
| IBN Icici Bank Ltd.-Spon ADR | 2.16% | 217,511 | $6.3M | Reduce -26.7% |
| FCX Freeport-McMoran Inc. | 2.15% | 99,691 | $6.3M | Add +13.4% |
| QFIN Qfin Holdings Inc.-ADR | 2.02% | 372,081 | $5.9M | Add +34.3% |
| BVN Cia DE Minas Buenaventur-ADR filed as COMPANIA DE MINAS BUENAVENTU | 1.76% | 175,062 | $5.1M | Add +35.7% |
| BAP Credicorp Ltd. | 1.71% | 12,817 | $5.0M | Reduce -0.2% |
| HDB HDFC Bank Ltd.-ADR | 1.67% | 188,264 | $4.9M | Reduce -34.3% |
| IFS Intercorp Financial Services | 1.60% | 81,938 | $4.7M | Add +13.2% |
| PBR Petroleo Brasileiro-Spon ADR | 1.58% | 284,705 | $4.6M | Reduce -0.2% |
| KC Kingsoft Cloud Holdings-ADR | 1.48% | 477,826 | $4.3M | Add +116.8% |
| FMX Fomento Economico Mex-SP ADR | 1.38% | 31,408 | $4.0M | Reduce -0.2% |
| XP XP Inc. Class A | 1.09% | 195,202 | $3.2M | New |
| CPNG Coupang Inc. | 1.06% | 177,538 | $3.1M | Add +0.8% |
| GRAB Grab Holdings Ltd. Class A | 0.69% | 2,079,000 | $2.0M | Add +63.3% |
| VALE Vale SA-SP ADR | 0.69% | 133,528 | $2.0M | Reduce -0.4% |
| BIDU Baidu Inc. - Spon ADR | 0.45% | 11,360 | $1.3M | Reduce -51.4% |
| MKOR Matthews Korea Active ETF | 0.11% | 5,032 | $334K | No change |
| ADVE Matthews Asia Dividend ETF | 0.08% | 5,000 | $230K | No change |
Portfolio Sells Q1 2026 → Q2 2026
| YUMC Yum China Holdings Inc. | Reduce -33.1% | 5.20% | −5.78 |
| PDD PDD Holdings Inc. | Reduce -33.9% | 3.44% | −4.81 |
| FUTU Futu Holdings Ltd.-ADR | Sold out | 0.00% | −3.81 |
| CYD China Yuchai Intl Ltd. | Reduce -33.8% | 3.49% | −1.57 |
| HDB HDFC Bank Ltd.-ADR | Reduce -34.3% | 1.67% | −1.23 |
| SE Sea Ltd.-ADR | Sold out | 0.00% | −0.96 |
| IBN Icici Bank Ltd.-Spon ADR | Reduce -26.7% | 2.16% | −0.95 |
| PBR Petroleo Brasileiro-Spon ADR | Reduce -0.2% | 1.58% | −0.82 |
| TCOM Trip.com Group Ltd.-ADR | Sold out | 0.00% | −0.80 |
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -0.3% | 2.31% | −0.64 |
| BIDU Baidu Inc. - Spon ADR | Reduce -51.4% | 0.45% | −0.61 |
| GRUPO FINANCIERO GALICIA | Reduce -10.8% | 2.56% | −0.61 |
| VALE Vale SA-SP ADR | Reduce -0.4% | 0.69% | −0.18 |
| GLOB Globant SA | Sold out | 0.00% | −0.12 |
| BAP Credicorp Ltd. | Reduce -0.2% | 1.71% | −0.06 |
| FMX Fomento Economico Mex-SP ADR | Reduce -0.2% | 1.38% | −0.04 |
| SKM SK Telecom Co. Ltd.-Spon ADR | Sold out | 0.00% | −0.04 |
| AGBK Agi Inc. Class A | Sold out | 0.00% | −0.03 |
| LRCX Lam Research Corp. | Reduce -27.9% | 3.01% | +0.58 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -6.2% | 9.59% | +1.02 |
| LEGN Legend Biotech Corp.-ADR | Reduce -0.9% | 9.08% | +2.29 |
| MU Micron Technology Inc. | Reduce -41.8% | 6.71% | +2.71 |
| ACMR Acm Research Inc. Class A | Reduce -4.6% | 5.76% | +3.54 |
Portfolio Buys Q1 2026 → Q2 2026
| UMC United Microelectron-SP ADR | Add +49.9% | 13.67% | +10.11 |
| YMM Full Truck Alliance -SPN ADR | Add +236.4% | 2.41% | +1.55 |
| XP XP Inc. Class A | New | 1.09% | +1.09 |
| QFIN Qfin Holdings Inc.-ADR | Add +34.3% | 2.02% | +0.56 |
| ATAT Atour Lifestyle Holdings-ADR | Add +59.8% | 3.82% | +0.55 |
| ITUB Itau Unibanco H-Spon PRF ADR | Add +40.1% | 3.80% | +0.51 |
| KC Kingsoft Cloud Holdings-ADR | Add +116.8% | 1.48% | +0.29 |
| IFS Intercorp Financial Services | Add +13.2% | 1.60% | +0.13 |
| FCX Freeport-McMoran Inc. | Add +13.4% | 2.15% | +0.05 |
| BVN Cia DE Minas Buenaventur-ADR | Add +35.7% | 1.76% | −0.13 |
| CPNG Coupang Inc. | Add +0.8% | 1.06% | −0.29 |
| BZ Kanzhun Ltd. - ADR | Add +13.1% | 3.48% | −0.31 |
| GRAB Grab Holdings Ltd. Class A | Add +63.3% | 0.69% | −1.20 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 32 | $291.7M | UMC, TSM, LEGN, MU, ACMR |
| Q1 2026 | 37 | $246.5M | YUMC, TSM, PDD, LEGN, CYD |
| Q4 2025 | 40 | $329.4M | PDD, FUTU, SE, LEGN, TCOM |
| Q3 2025 | 39 | $428.1M | PDD, SE, LEGN, TCOM, BZ |
| Q2 2025 | 39 | $432.6M | PDD, SE, LEGN, YMM, TCOM |
| Q1 2025 | 36 | $482.2M | PDD, SE, YMM, LEGN, TCOM |
| Q4 2024 | 41 | $482.7M | PDD, SE, LEGN, TSM, YUMC |
| Q3 2024 | 41 | $598.9M | PDD, SE, YMM, BEKE, LEGN |
| Q2 2024 | 37 | $451.9M | PDD, YMM, LEGN, SE, BEKE |
| Q1 2024 | 37 | $499.8M | YMM, BEKE, LEGN, PDD, YUMC |