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PCP

Polunin Capital Partners Portfolio holdings

AUM $407M
1-Year Est. Return 55.12%
This Fund
S&P 500
This Quarter Est. Return
+37.08%
1 Year Est. Return
+55.12%
3 Year Est. Return
+251.73%
5 Year Est. Return
+279.39%
10 Year Est. Return
–
AUM
$680M
AUM Growth
+$68.1M
Cap. Flow
-$97.1M
Cap. Flow %
-14.28%
Top 10 Hldgs %
92.16%
Holding
29
New
2
Increased
5
Reduced
11
Closed
5

Top Buys

Rank Stock Value
1
DQ
Daqo New Energy
DQ
+$30.1M
2
BIDU icon
Baidu
BIDU
+$6.78M
3
PAGS icon
PagSeguro Digital
PAGS
+$5.38M
4
NIU
Niu Technologies
NIU
+$1.59M
5
MOMO
Hello Group
MOMO
+$1.49M

Top Sells

Rank Stock Value
1
BRFS
BRF SA
BRFS
+$66.8M
2
UGP icon
Ultrapar
UGP
+$31.4M
3
HSAI
Hesai Group
HSAI
+$26.9M
4
BABA icon
Alibaba
BABA
+$5.9M
5
WB icon
Weibo
WB
+$5.48M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 49.5%
2 Technology 27.98%
3 Communication Services 17.35%
4 Materials 2.66%
5 Industrials 1.84%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BABA icon
1
Alibaba
BABA
$296B
$260M 38.2%
1,381,634
-45,000
-3% -$5.9M
JD icon
2
JD.com
JD
$38.8B
$69.8M 10.26%
1,971,856
-66,000
-3% -$2.15M
STNE icon
3
StoneCo
STNE
$2.24B
$60.4M 8.88%
3,359,188
-105,100
-3% -$1.67M
BIDU icon
4
Baidu
BIDU
$32.9B
$58.6M 8.61%
412,368
+68,496
+20% +$6.78M
YMM icon
5
Full Truck Alliance
YMM
$9.14B
$42.1M 6.19%
3,145,346
-101,800
-3% -$1.26M
PAGS icon
6
PagSeguro Digital
PAGS
$2.45B
$41.5M 6.1%
4,433,460
+598,089
+16% +$5.38M
DQ
7
Daqo New Energy
DQ
$926M
$37.2M 5.47%
+1,283,958
New +$30.1M
ATHM icon
8
Autohome
ATHM
$2.63B
$32.8M 4.82%
1,153,215
-36,100
-3% -$1.02M
RYAAY icon
9
Ryanair
RYAAY
$29.1B
$12.5M 1.84%
210,331
– –
BVN icon
10
Compañía de Minas Buenaventura
BVN
$8.92B
$12.2M 1.8%
499,281
– –
JOYY
11
JOYY Inc
JOYY
$3.65B
$9.6M 1.41%
163,430
-3,947
-2% -$217K
HUYA
12
Huya Inc
HUYA
$498M
$8.24M 1.21%
2,512,935
+434,263
+21% +$1.43M
MOMO
13
Hello Group
MOMO
$845M
$6.64M 0.98%
889,369
+182,874
+26% +$1.49M
NIU
14
Niu Technologies
NIU
$156M
$6.6M 0.97%
1,460,883
+388,821
+36% +$1.59M
HIMX
15
Himax Technologies
HIMX
$2.38B
$6.38M 0.94%
739,368
-18,900
-2% -$162K
CGAU
16
Centerra Gold
CGAU
$4.59B
$5.86M 0.86%
515,715
-13,400
-3% -$107K
DOYU
17
DouYu International Holdings
DOYU
$129M
$2.18M 0.32%
293,430
-10,100
-3% -$79.1K
KWEB icon
18
KraneShares CSI China Internet ETF
KWEB
$5.2B
$1.75M 0.26%
41,100
– –
CAN
19
Canaan Creative
CAN
$283M
$1.71M 0.25%
1,304,841
-41,300
-3% -$31.3K
ASHR icon
20
Xtrackers Harvest CSI 300 China A-Shares ETF
ASHR
$1.56B
$1.35M 0.2%
40,845
– –
MX icon
21
Magnachip Semiconductor
MX
$115M
$1.11M 0.16%
348,095
-10,400
-3% -$35.2K
HTT
22
High Templar Tech Ltd
HTT
$408M
$1.07M 0.16%
241,154
– –
BZUN
23
Baozun
BZUN
$176M
$424K 0.06%
+107,623
New +$349K
LU icon
24
Lufax Holding
LU
$1.14B
$359K 0.05%
89,626
– –
BRFS
25
DELISTED
BRF SA
BRFS
– –
-16,829,511
Closed -$66.8M
1
2

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Polunin Capital Partners's Q3 2025 Portfolio in Review

As of Q3 2025, Polunin Capital Partners held 29 positions worth $680M, up 11% from $612M the previous quarter. Its ten largest holdings account for 92% of the portfolio.

Polunin Capital Partners withdrew a net $97.1M in Q3 2025, closing 5 positions and reducing 11 holdings. Its most notable exit was BRF SA, an estimated $66.8M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 49% of assets, up from 41% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Polunin Capital Partners opened a new position in Daqo New Energy worth $37.2M.

  • Polunin Capital Partners's largest Q3 2025 buy was Daqo New Energy: 1,283,958 shares worth $37.2M.
  • Polunin Capital Partners added most to Baidu in Q3 2025, an estimated $6.78M increase.
  • Polunin Capital Partners's biggest Q3 2025 reduction was Alibaba, cutting an estimated $5.9M.
  • Polunin Capital Partners fully exited BRF SA in Q3 2025, selling an estimated $66.8M.
  • Polunin Capital Partners's ten largest holdings make up 92% of its $680M portfolio in Q3 2025.
  • Polunin Capital Partners opened 2 new positions and closed 5 in Q3 2025.
  • Polunin Capital Partners's portfolio value rose 11% quarter-over-quarter to $680M.

Based on Polunin Capital Partners's 13F filing for Q3 2025, filed 7 Oct 2025.