MATTHEWS INTERNATIONAL CAPITAL MANAGEMENT LLC Diversified Active

CIK: 0001028074 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Jan 29, 2026

Total Value ($000): $329,421 (100.0% shares, 0.0% debt)

Holdings (40)

New Positions (3)

VALE VALE S A 0.5%

Value ($000) $1,726 Shares 132,432 Est. Cost $13.03 Unrealized —

ZTO ZTO EXPRESS CAYMAN INC 0.4%

Value ($000) $1,479 Shares 70,800 Est. Cost $20.89 Unrealized —

GLOB GLOBANT S A 0.1%

Value ($000) $387 Shares 5,919 Est. Cost $62.86 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VALE	VALE S A	132,432	$1,726	0.5%	$13.03	—	SPONSORED S A	91912E105
ZTO	ZTO EXPRESS CAYMAN INC	70,800	$1,479	0.4%	$20.89	—	SPONSORED ADS A	98980A105
GLOB	GLOBANT S A	5,919	$387	0.1%	$62.86	0.0%	COM	L44385109

Increased Positions (7)

FUTU FUTU HLDGS LTD 7.5%

Value ($000) $24,780 (+196.9%) Shares 150,906 (+214.5%) Est. Cost $159.71 Unrealized —

— GRUPO FINANCIERO GALICIA 3.4%

Value ($000) $11,162 (+453.6%) Shares 206,929 (+182.9%) Est. Cost $45.32 Unrealized —

HDB HDFC BANK LTD 3.8%

Value ($000) $12,567 (+69.3%) Shares 343,916 (+58.3%) Est. Cost $45.71 Unrealized —

NU NU HLDGS LTD 2.2%

Value ($000) $7,234 (+232.8%) Shares 432,150 (+218.3%) Est. Cost $14.02 Unrealized +14.7%

ITUB ITAU UNIBANCO HLDG S A 2.5%

Value ($000) $8,234 (+1.0%) Shares 1,149,948 (+3.5%) Est. Cost $5.81 Unrealized —

CYD CHINA YUCHAI INTL LTD 0.7%

Value ($000) $2,196 (-3.3%) Shares 61,869 (+12.7%) Est. Cost $30.93 Unrealized +17.9%

SKM SK TELECOM LTD 0.0%

Value ($000) $51 (+43.0%) Shares 2,491 (+50.4%) Est. Cost $21.01 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FUTU	FUTU HLDGS LTD	150,906 (+214.5%)	$24,780 (+196.9%)	7.5%	$159.71	—	SPON ADS CL A	36118L106
—	GRUPO FINANCIERO GALICIA	206,929 (+182.9%)	$11,162 (+453.6%)	3.4%	$45.32	—	SPONSORED ADR	399909I00
HDB	HDFC BANK LTD	343,916 (+58.3%)	$12,567 (+69.3%)	3.8%	$45.71	—	SPONSORED ADS	40415F101
NU	NU HLDGS LTD	432,150 (+218.3%)	$7,234 (+232.8%)	2.2%	$14.02	+14.7%	ORD SHS CL A	G6683N103
ITUB	ITAU UNIBANCO HLDG S A	1,149,948 (+3.5%)	$8,234 (+1.0%)	2.5%	$5.81	—	SPON ADR REP PFD	465562106
CYD	CHINA YUCHAI INTL LTD	61,869 (+12.7%)	$2,196 (-3.3%)	0.7%	$30.93	+17.9%	COM	G21082105
SKM	SK TELECOM LTD	2,491 (+50.4%)	$51 (+43.0%)	0.0%	$21.01	—	SPONSORED ADR	78440P306

Exited Positions (3)

MELI MERCADOLIBRE INC 1.2%

Value ($000) $3,844 Shares 1,645 Est. Cost $1965.14 Unrealized +6.9%

— ZTO EXPRESS CAYMAN INC 0.4%

Value ($000) $1,359 Shares 70,800 Est. Cost $0.98 Unrealized —

JD JD.COM INC 0.1%

Value ($000) $391 Shares 11,165 Est. Cost $41.02 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MELI	MERCADOLIBRE INC	1,645	$3,844	1.2%	$1965.14	+6.9%	—	58733R102
—	ZTO EXPRESS CAYMAN INC	70,800	$1,359	0.4%	$0.98	—	—	98980AAB1
JD	JD.COM INC	11,165	$391	0.1%	$41.02	—	—	47215P106

Decreased Positions (23)

PDD PDD HOLDINGS INC 12.8%

Value ($000) $42,027 (-35.6%) Shares 370,640 (-24.9%) Est. Cost $103.55 Unrealized —

SE SEA LTD 6.9%

Value ($000) $22,866 (-40.0%) Shares 179,241 (-15.9%) Est. Cost $66.32 Unrealized —

LEGN LEGEND BIOTECH CORP 6.3%

Value ($000) $20,801 (-38.0%) Shares 956,824 (-7.0%) Est. Cost $40.22 Unrealized —

TME TENCENT MUSIC ENTMT GROUP 1.3%

Value ($000) $4,173 (-72.3%) Shares 238,068 (-63.2%) Est. Cost $10.03 Unrealized —

YMM FULL TRUCK ALLIANCE CO LTD 4.2%

Value ($000) $13,908 (-42.1%) Shares 1,296,189 (-30.0%) Est. Cost $8.01 Unrealized —

TCOM TRIP COM GROUP LTD 5.9%

Value ($000) $19,512 (-33.2%) Shares 271,342 (-30.1%) Est. Cost $40.10 Unrealized —

BEKE KE HLDGS INC 1.3%

Value ($000) $4,246 (-69.4%) Shares 269,393 (-63.1%) Est. Cost $17.69 Unrealized —

BZ KANZHUN LIMITED 5.1%

Value ($000) $16,903 (-29.7%) Shares 829,409 (-19.5%) Est. Cost $17.32 Unrealized —

GRAB GRAB HOLDINGS LIMITED 3.6%

Value ($000) $11,814 (-37.0%) Shares 2,367,470 (-24.0%) Est. Cost $3.71 Unrealized +48.8%

— ZHIHU INC 2.4%

Value ($000) $7,777 (-47.1%) Shares 2,371,187 (-18.2%) Est. Cost $1.15 Unrealized —

MMYT MAKEMYTRIP LIMITED 3.2%

Value ($000) $10,386 (-38.4%) Shares 126,471 (-29.8%) Est. Cost $96.57 Unrealized -15.1%

CPNG COUPANG INC 2.6%

Value ($000) $8,728 (-41.5%) Shares 369,975 (-20.2%) Est. Cost $24.48 Unrealized +16.2%

XP XP INC 0.5%

Value ($000) $1,670 (-72.2%) Shares 101,999 (-68.1%) Est. Cost $17.93 Unrealized -1.8%

QFIN QFIN HOLDINGS INC 1.6%

Value ($000) $5,341 (-42.5%) Shares 277,149 (-14.2%) Est. Cost $41.55 Unrealized —

MU MICRON TECHNOLOGY INC 2.4%

Value ($000) $7,913 (+30.1%) Shares 27,726 (-23.7%) Est. Cost $70.65 Unrealized +224.6%

TUYA TUYA INC 0.0%

Value ($000) $18 (-99.0%) Shares 8,553 (-98.8%) Est. Cost $2.31 Unrealized —

ATAT ATOUR LIFESTYLE HLDGS LTD 2.0%

Value ($000) $6,461 (-12.2%) Shares 163,989 (-16.2%) Est. Cost $18.35 Unrealized —

CHA CHAGEE HLDGS LTD 0.0%

Value ($000) $8 (-99.1%) Shares 698 (-98.7%) Est. Cost $26.11 Unrealized —

— LAM RESEARCH CORP 1.1%

Value ($000) $3,784 (+24.2%) Shares 22,105 (-2.8%) Est. Cost $140.82 Unrealized —

ACMR ACM RESH INC 2.2%

Value ($000) $7,387 (-7.2%) Shares 187,250 (-8.0%) Est. Cost $26.97 Unrealized +38.1%

TSM TAIWAN SEMICONDUCTOR MFG LTD 3.0%

Value ($000) $9,945 (-1.5%) Shares 32,727 (-9.4%) Est. Cost $90.52 Unrealized —

BVN COMPANIA DE MINAS BUENAVENTU 0.2%

Value ($000) $615 (+6.1%) Shares 22,089 (-7.3%) Est. Cost $12.37 Unrealized —

KSPI KASPI KZ JSC 0.1%

Value ($000) $216 (-6.8%) Shares 2,762 (-2.5%) Est. Cost $84.89 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PDD	PDD HOLDINGS INC	370,640 (-24.9%)	$42,027 (-35.6%)	12.8%	$103.55	—	SPONSORED ADS	722304102
SE	SEA LTD	179,241 (-15.9%)	$22,866 (-40.0%)	6.9%	$66.32	—	SPONSORD ADS	81141R100
LEGN	LEGEND BIOTECH CORP	956,824 (-7.0%)	$20,801 (-38.0%)	6.3%	$40.22	—	SPONSORED ADS	52490G102
TME	TENCENT MUSIC ENTMT GROUP	238,068 (-63.2%)	$4,173 (-72.3%)	1.3%	$10.03	—	SPON ADS	88034P109
YMM	FULL TRUCK ALLIANCE CO LTD	1,296,189 (-30.0%)	$13,908 (-42.1%)	4.2%	$8.01	—	SPONSORED ADS	35969L108
TCOM	TRIP COM GROUP LTD	271,342 (-30.1%)	$19,512 (-33.2%)	5.9%	$40.10	—	ADS	89677Q107
BEKE	KE HLDGS INC	269,393 (-63.1%)	$4,246 (-69.4%)	1.3%	$17.69	—	SPONSORED ADS	482497104
BZ	KANZHUN LIMITED	829,409 (-19.5%)	$16,903 (-29.7%)	5.1%	$17.32	—	SPONSORED ADS	48553T106
GRAB	GRAB HOLDINGS LIMITED	2,367,470 (-24.0%)	$11,814 (-37.0%)	3.6%	$3.71	+48.8%	CLASS A ORD	G4124C109
—	ZHIHU INC	2,371,187 (-18.2%)	$7,777 (-47.1%)	2.4%	$1.15	—	ADS	98955N108
MMYT	MAKEMYTRIP LIMITED	126,471 (-29.8%)	$10,386 (-38.4%)	3.2%	$96.57	-15.1%	SHS	V5633W109
CPNG	COUPANG INC	369,975 (-20.2%)	$8,728 (-41.5%)	2.6%	$24.48	+16.2%	CL A	22266T109
XP	XP INC	101,999 (-68.1%)	$1,670 (-72.2%)	0.5%	$17.93	-1.8%	Cl A	G98239109
QFIN	QFIN HOLDINGS INC	277,149 (-14.2%)	$5,341 (-42.5%)	1.6%	$41.55	—	AMERICAN DEP	88557W101
MU	MICRON TECHNOLOGY INC	27,726 (-23.7%)	$7,913 (+30.1%)	2.4%	$70.65	+224.6%	COM	595112103
TUYA	TUYA INC	8,553 (-98.8%)	$18 (-99.0%)	0.0%	$2.31	—	SPONSORED ADS	90114C107
ATAT	ATOUR LIFESTYLE HLDGS LTD	163,989 (-16.2%)	$6,461 (-12.2%)	2.0%	$18.35	—	SPONSORED ADS	04965M106
CHA	CHAGEE HLDGS LTD	698 (-98.7%)	$8 (-99.1%)	0.0%	$26.11	—	SPONSORED ADS	15743P104
—	LAM RESEARCH CORP	22,105 (-2.8%)	$3,784 (+24.2%)	1.1%	$140.82	—	COM	512807108
ACMR	ACM RESH INC	187,250 (-8.0%)	$7,387 (-7.2%)	2.2%	$26.97	+38.1%	COM CL A	00108J109
TSM	TAIWAN SEMICONDUCTOR MFG LTD	32,727 (-9.4%)	$9,945 (-1.5%)	3.0%	$90.52	—	SPONSORED ADS	874039100
BVN	COMPANIA DE MINAS BUENAVENTU	22,089 (-7.3%)	$615 (+6.1%)	0.2%	$12.37	—	SPONSORED ADR	204448104
KSPI	KASPI KZ JSC	2,762 (-2.5%)	$216 (-6.8%)	0.1%	$84.89	—	SPONSORED ADS	48581R205

Unchanged Positions (7)

YUMC YUM CHINA HLDGS INC 4.5%

Value ($000) $14,901 Shares 312,126 Est. Cost $42.42 Unrealized +8.0%

NTES NETEASE INC 1.0%

Value ($000) $3,289 Shares 23,901 Est. Cost $123.56 Unrealized —

IBN ICICI BANK LIMITED 3.3%

Value ($000) $11,011 Shares 369,492 Est. Cost $29.44 Unrealized —

FMX FOMENTO ECONOMICO MEXICANO S 1.0%

Value ($000) $3,163 Shares 31,291 Est. Cost $102.98 Unrealized —

FCX FREEPORT-MCMORAN INC 0.1%

Value ($000) $373 Shares 7,353 Est. Cost $41.08 Unrealized +5.4%

MKOR MATTHEWS ASIA FDS - KOREA ACTIVE ETF 0.1%

Value ($000) $173 Shares 5,032 Est. Cost $25.73 Unrealized —

ADVE MATTHEWS INTL FDS - ASIA DIVIDEND AC 0.1%

Value ($000) $196 Shares 5,000 Est. Cost $35.84 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
YUMC	YUM CHINA HLDGS INC	312,126	$14,901	4.5%	$42.42	+8.0%	COM	98850P109
NTES	NETEASE INC	23,901	$3,289	1.0%	$123.56	—	SPONSORED ADS	64110W102
IBN	ICICI BANK LIMITED	369,492	$11,011	3.3%	$29.44	—	ADR	45104G104
FMX	FOMENTO ECONOMICO MEXICANO S	31,291	$3,163	1.0%	$102.98	—	SPON ADR UNITS	344419106
FCX	FREEPORT-MCMORAN INC	7,353	$373	0.1%	$41.08	+5.4%	CL B	35671D857
MKOR	MATTHEWS ASIA FDS - KOREA ACTIVE ETF	5,032	$173	0.1%	$25.73	—	SHS	577125784
ADVE	MATTHEWS INTL FDS - ASIA DIVIDEND AC	5,000	$196	0.1%	$35.84	—	SHS	577130586