Polunin Capital Partners Ltd 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Polunin Capital Partners Ltd disclosed 24 US equity positions worth $649.1m in its Q4 2025 13F filing. The largest position was BABA at 35.3% of the reported book, followed by BIDU and JD. Against the Q3 2025 filing, it opened 2 new positions, added to 3 and reduced 14 among the top 24 holdings.
What did Polunin Capital Partners Ltd own in Q4 2025? Top 24 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | BABA ALIBABA GROUP HLDG LTD | Consumer Cyclical | 35.3% | $228.9m | 1,383,722 | 0% | held |
| 2 | BIDU BAIDU INC | Communication Services | 9.5% | $61.8m | 413,496 | 0% | held |
| 3 | JD JD.COM INC | Consumer Cyclical | 8.7% | $56.3m | 1,947,668 | -1% | reduced |
| 4 | STNE STONECO LTD | Technology | 7.5% | $48.6m | 3,356,763 | -0% | held |
| 5 | PAGS PAGSEGURO DIGITAL LTD | Technology | 6.9% | $44.9m | 4,450,160 | 0% | held |
| 6 | CSIQ CANADIAN SOLAR INC | Technology | 6.7% | $43.7m | 2,009,769 | – | new |
| 7 | DQ DAQO NEW ENERGY CORP | Technology | 5.7% | $36.7m | 1,458,705 | 14% | added |
| 8 | YMM FULL TRUCK ALLIANCE CO LTD | Technology | 4.8% | $31.1m | 3,152,133 | 0% | held |
| 9 | ATHM AUTOHOME INC | Communication Services | 4.1% | $26.4m | 1,143,866 | -1% | reduced |
| 10 | BVN COMPANIA DE MINAS BUENAVENTU | Basic Materials | 2.9% | $18.7m | 540,381 | 8% | added |
| 11 | JOYY JOYY INC | Communication Services | 1.6% | $10.5m | 151,493 | -7% | reduced |
| 12 | HUYA HUYA INC | Communication Services | 1.6% | $10.1m | 2,719,977 | 8% | added |
| 13 | CGAU CENTERRA GOLD INC | Basic Materials | 1.3% | $8.2m | 491,629 | -5% | reduced |
| 14 | HIMX HIMAX TECHNOLOGIES INC | Technology | 0.9% | $6.1m | 706,750 | -4% | reduced |
| 15 | MOMO HELLO GROUP INC | Communication Services | 0.9% | $6.0m | 853,219 | -4% | reduced |
| 16 | GAU GALIANO GOLD INC | Basic Materials | 0.8% | $5.2m | 1,860,217 | – | new |
| 17 | DOYU DOUYU INTL HLDGS LTD | 0.3% | $1.9m | 277,828 | -5% | reduced | |
| 18 | MX MAGNACHIP SEMICONDUCTOR CORP | Technology | 0.2% | $1.0m | 335,148 | -4% | reduced |
| 19 | CAN CANAAN INC | Technology | 0.1% | $942.0k | 1,194,556 | -8% | reduced |
| 20 | ASHR DBX ETF TR | 0.1% | $778.0k | 23,183 | -43% | reduced | |
| 21 | KWEB KRANESHARES TRUST | 0.1% | $687.0k | 19,226 | -53% | reduced | |
| 22 | HTT HIGH TEMPLAR TECHNOLOGY LTD | 0.1% | $342.0k | 112,803 | -53% | reduced | |
| 23 | BZUN BAOZUN INC | Consumer Cyclical | 0.0% | $168.0k | 60,222 | -44% | reduced |
| 24 | LU LUFAX HOLDING LTD | Financial Services | 0.0% | $110.0k | 41,924 | -53% | reduced |
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.