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Matthews International Capital Management LLC

CIK:0001028074
Asset Manager
$7B AUM
40 holdings
San Francisco, CA, United States
Founded:1991
150 employees
Latest filing:Sep 30, 2025

Matthews International Capital Management LLC, founded in 1991 and based in San Francisco, CA, is an asset management firm best known for its focus on Asian and emerging markets. The firm serves both institutional and individual investors, offering mutual funds and strategies specially tailored to international and emerging market equities. Matthews employs staff with expertise in regional and fundamental research and has remained independently managed, prioritizing deep regional knowledge for over three decades.

Investment Strategy

Matthews International Capital Management specializes in active management of Asian and emerging markets equities. The firm’s investment process is bottom-up, relying on fundamental research to identify high-quality companies with strong growth prospects, sustainable competitive advantages, and sound corporate governance. Matthews emphasizes on-the-ground research and cultural expertise, seeking long-term value creation in dynamic and under-researched markets. Portfolio construction prioritizes diversification and risk management, with a focus on sustainable, long-term results.

Top Buys
P
PDDPDD HOLDINGS INC
+$12.9M
B
BZKANZHUN LIMITED
+$7.1M
T
TCOMTRIP COM GROUP LTD
+$6.6M
X
XPXP INC
+$6.0M
F
FUTUFUTU HLDGS LTD
+$5.5M
Top Sells
S
SESEA LTD
-$13.0M
L
LEGNLEGEND BIOTECH CORP
-$12.4M
Y
YMMFULL TRUCK ALLIANCE CO LTD
-$11.2M
N
NTESNETEASE INC
-$4.1M
I
INFYINFOSYS LTD
-$2.8M

Top Holdings

P
PDDPDD HOLDINGS INC
+15.2%$65.3M
S
SESEA LTD
+8.9%$38.1M
L
LEGNLEGEND BIOTECH CORP
+7.8%$33.5M
T
TCOMTRIP COM GROUP LTD
+6.8%$29.2M
B
BZKANZHUN LIMITED
+5.6%$24.1M

Equity Positions (35)

TickerSecurityWeightMarket ValueSharesAvg CostPriceChange (QoQ)
P
PDD
PDD HOLDINGS INC15.20%$65.3M493,802$103.56$132.17+$12.9M
S
SE
SEA LTD8.87%$38.1M213,226$65.09$178.73-$13.0M
L
LEGN
LEGEND BIOTECH CORP7.81%$33.5M1,028,447$40.60$32.61-$12.4M
T
TCOM
TRIP COM GROUP LTD6.80%$29.2M388,145$40.54$75.20+$6.6M
B
BZ
KANZHUN LIMITED5.60%$24.1M1,029,811$17.32$23.36+$7.1M

Industry Allocation

SERVICES-BUSINESS SERVICES, NEC
+27.3%
SERVICES-MISCELLANEOUS BUSINESS SERVICES
+8.9%
PHARMACEUTICAL PREPARATIONS
+7.8%
SERVICES-PREPACKAGED SOFTWARE
+6.8%
SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC.
+5.6%