Polunin Capital Partners Ltd 13F holdings, Q3 2025
Holdings as of September 30, 2025 · filings on SEC EDGAR · latest filing →
Polunin Capital Partners Ltd disclosed 24 US equity positions worth $680.0m in its Q3 2025 13F filing. The largest position was BABA at 38.2% of the reported book, followed by JD and STNE. Against the Q2 2025 filing, it opened 2 new positions, added to 5 and reduced 11 among the top 24 holdings.
What did Polunin Capital Partners Ltd own in Q3 2025? Top 24 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q2 2025 |
|---|---|---|---|---|---|---|---|
| 1 | BABA ALIBABA GROUP HLDG LTD | Consumer Cyclical | 38.2% | $259.8m | 1,381,634 | -3% | reduced |
| 2 | JD JD.COM INC | Consumer Cyclical | 10.3% | $69.8m | 1,971,856 | -3% | reduced |
| 3 | STNE STONECO LTD | Technology | 8.9% | $60.4m | 3,359,188 | -3% | reduced |
| 4 | BIDU BAIDU INC | Communication Services | 8.6% | $58.6m | 412,368 | 20% | added |
| 5 | YMM FULL TRUCK ALLIANCE CO LTD | Technology | 6.2% | $42.1m | 3,145,346 | -3% | reduced |
| 6 | PAGS PAGSEGURO DIGITAL LTD | Technology | 6.1% | $41.5m | 4,433,460 | 16% | added |
| 7 | DQ DAQO NEW ENERGY CORP | Technology | 5.5% | $37.2m | 1,283,958 | – | new |
| 8 | ATHM AUTOHOME INC | Communication Services | 4.8% | $32.8m | 1,153,215 | -3% | reduced |
| 9 | RYAAY RYANAIR HOLDINGS PLC | Industrials | 1.8% | $12.5m | 210,331 | 0% | held |
| 10 | BVN COMPANIA DE MINAS BUENAVENTU | Basic Materials | 1.8% | $12.2m | 499,281 | 0% | held |
| 11 | JOYY JOYY INC | Communication Services | 1.4% | $9.6m | 163,430 | -2% | reduced |
| 12 | HUYA HUYA INC | Communication Services | 1.2% | $8.2m | 2,512,935 | 21% | added |
| 13 | MOMO HELLO GROUP INC | Communication Services | 1.0% | $6.6m | 889,369 | 26% | added |
| 14 | NIU NIU TECHNOLOGIES | Consumer Cyclical | 1.0% | $6.6m | 1,460,883 | 36% | added |
| 15 | HIMX HIMAX TECHNOLOGIES INC | Technology | 0.9% | $6.4m | 739,368 | -2% | reduced |
| 16 | CGAU CENTERRA GOLD INC | Basic Materials | 0.9% | $5.9m | 515,715 | -3% | reduced |
| 17 | DOYU DOUYU INTL HLDGS LTD | 0.3% | $2.2m | 293,430 | -3% | reduced | |
| 18 | KWEB KRANESHARES TRUST | 0.3% | $1.8m | 41,100 | 0% | held | |
| 19 | CAN CANAAN INC | Technology | 0.3% | $1.7m | 1,304,841 | -3% | reduced |
| 20 | ASHR DBX ETF TR | 0.2% | $1.3m | 40,845 | 0% | held | |
| 21 | MX MAGNACHIP SEMICONDUCTOR CORP | Technology | 0.2% | $1.1m | 348,095 | -3% | reduced |
| 22 | HTT QUDIAN INC | 0.2% | $1.1m | 241,154 | 0% | held | |
| 23 | BZUN BAOZUN INC | Consumer Cyclical | 0.1% | $424.0k | 107,623 | – | new |
| 24 | LU LUFAX HOLDING LTD | Financial Services | 0.1% | $359.0k | 89,626 | 0% | held |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.