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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
-5.15%
1 Year Est. Return
+55.12%
3 Year Est. Return
+251.73%
5 Year Est. Return
+279.39%
10 Year Est. Return
–
AUM
$649M
AUM Growth
-$31M
Cap. Flow
+$31.8M
Cap. Flow %
4.9%
Top 10 Hldgs %
92%
Holding
26
New
2
Increased
7
Reduced
15
Closed
2

Top Buys

Rank Stock Value
1
CSIQ icon
Canadian Solar
CSIQ
+$43.8M
2
DQ
Daqo New Energy
DQ
+$5.33M
3
GAU
Galiano Gold
GAU
+$4.6M
4
BVN icon
Compañía de Minas Buenaventura
BVN
+$1.03M
5
HUYA
Huya Inc
HUYA
+$607K

Top Sells

Rank Stock Value
1
RYAAY icon
Ryanair
RYAAY
+$12.5M
2
NIU
Niu Technologies
NIU
+$6.6M
3
KWEB icon
KraneShares CSI China Internet ETF
KWEB
+$841K
4
JD icon
JD.com
JD
+$756K
5
JOYY
JOYY Inc
JOYY
+$729K

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 43.96%
2 Technology 32.82%
3 Communication Services 17.98%
4 Materials 4.95%
5 Miscellaneous 0.23%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BABA icon
1
Alibaba
BABA
$296B
$229M 35.26%
1,383,722
+2,088
+0.2% +$340K
BIDU icon
2
Baidu
BIDU
$32.9B
$61.8M 9.53%
413,496
+1,128
+0.3% +$140K
JD icon
3
JD.com
JD
$38.8B
$56.3M 8.67%
1,947,668
-24,188
-1% -$756K
STNE icon
4
StoneCo
STNE
$2.24B
$48.6M 7.49%
3,356,763
-2,425
-0.1% -$40.6K
PAGS icon
5
PagSeguro Digital
PAGS
$2.45B
$44.9M 6.91%
4,450,160
+16,700
+0.4% +$160K
CSIQ icon
6
Canadian Solar
CSIQ
$892M
$43.7M 6.73%
+2,009,769
New +$43.8M
DQ
7
Daqo New Energy
DQ
$926M
$36.7M 5.66%
1,458,705
+174,747
+14% +$5.33M
YMM icon
8
Full Truck Alliance
YMM
$9.14B
$31.1M 4.79%
3,152,133
+6,787
+0.2% +$81.4K
ATHM icon
9
Autohome
ATHM
$2.63B
$26.4M 4.07%
1,143,866
-9,349
-0.8% -$234K
BVN icon
10
Compañía de Minas Buenaventura
BVN
$8.92B
$18.7M 2.89%
540,381
+41,100
+8% +$1.03M
JOYY
11
JOYY Inc
JOYY
$3.65B
$10.5M 1.62%
151,493
-11,937
-7% -$729K
HUYA
12
Huya Inc
HUYA
$498M
$10.1M 1.55%
2,719,977
+207,042
+8% +$607K
CGAU
13
Centerra Gold
CGAU
$4.59B
$8.19M 1.26%
491,629
-24,086
-5% -$302K
HIMX
14
Himax Technologies
HIMX
$2.38B
$6.07M 0.94%
706,750
-32,618
-4% -$276K
MOMO
15
Hello Group
MOMO
$845M
$5.96M 0.92%
853,219
-36,150
-4% -$249K
GAU
16
Galiano Gold
GAU
$599M
$5.17M 0.8%
+1,860,217
New +$4.6M
DOYU
17
DouYu International Holdings
DOYU
$129M
$1.89M 0.29%
277,828
-15,602
-5% -$109K
MX icon
18
Magnachip Semiconductor
MX
$115M
$1.01M 0.16%
335,148
-12,947
-4% -$36K
CAN
19
Canaan Creative
CAN
$283M
$942K 0.15%
1,194,556
-110,285
-8% -$126K
ASHR icon
20
Xtrackers Harvest CSI 300 China A-Shares ETF
ASHR
$1.56B
$778K 0.12%
23,183
-17,662
-43% -$579K
KWEB icon
21
KraneShares CSI China Internet ETF
KWEB
$5.2B
$687K 0.11%
19,226
-21,874
-53% -$841K
HTT
22
High Templar Tech Ltd
HTT
$408M
$342K 0.05%
112,803
-128,351
-53% -$573K
BZUN
23
Baozun
BZUN
$176M
$168K 0.03%
60,222
-47,401
-44% -$149K
LU icon
24
Lufax Holding
LU
$1.14B
$110K 0.02%
41,924
-47,702
-53% -$141K
NIU
25
Niu Technologies
NIU
$156M
– –
-1,460,883
Closed -$6.6M
1
2

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AFA
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TAS
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Polunin Capital Partners's Q4 2025 Portfolio in Review

As of Q4 2025, Polunin Capital Partners held 26 positions worth $649M, down 4.6% from $680M the previous quarter. Its ten largest holdings account for 92% of the portfolio.

Polunin Capital Partners deployed $31.8M of net new capital in Q4 2025, opening 2 new positions and adding to 7 existing holdings. Its largest new stake was Canadian Solar: 2,009,769 shares worth $43.7M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 44% of assets, down from 49% a quarter earlier, followed by Technology and Communication Services.

On the sell side, the largest reduction was KraneShares CSI China Internet ETF, an estimated $841K trimmed.

  • Polunin Capital Partners's largest Q4 2025 buy was Canadian Solar: 2,009,769 shares worth $43.7M.
  • Polunin Capital Partners added most to Daqo New Energy in Q4 2025, an estimated $5.33M increase.
  • Polunin Capital Partners's biggest Q4 2025 reduction was KraneShares CSI China Internet ETF, cutting an estimated $841K.
  • Polunin Capital Partners fully exited Ryanair in Q4 2025, selling an estimated $12.5M.
  • Polunin Capital Partners's ten largest holdings make up 92% of its $649M portfolio in Q4 2025.
  • Polunin Capital Partners opened 2 new positions and closed 2 in Q4 2025.
  • Polunin Capital Partners's portfolio value fell 4.6% quarter-over-quarter to $649M.

Based on Polunin Capital Partners's 13F filing for Q4 2025, filed 20 Jan 2026.