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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
-13.38%
1 Year Est. Return
+55.12%
3 Year Est. Return
+251.73%
5 Year Est. Return
+279.39%
10 Year Est. Return
–
AUM
$385M
AUM Growth
-$264M
Cap. Flow
-$161M
Cap. Flow %
-41.76%
Top 10 Hldgs %
99.44%
Holding
25
New
1
Increased
3
Reduced
8
Closed
9

Top Buys

Rank Stock Value
1
ACMR icon
ACM Research
ACMR
+$40.5M
2
DQ
Daqo New Energy
DQ
+$6.92M
3
PAGS icon
PagSeguro Digital
PAGS
+$5.78M
4
YMM icon
Full Truck Alliance
YMM
+$6.66K

Top Sells

Rank Stock Value
1
BABA icon
Alibaba
BABA
+$78.3M
2
JD icon
JD.com
JD
+$56.3M
3
BVN icon
Compañía de Minas Buenaventura
BVN
+$18.7M
4
BIDU icon
Baidu
BIDU
+$17M
5
JOYY
JOYY Inc
JOYY
+$10.5M

Sector Composition

Rank Sector Weight
1 Technology 57.51%
2 Consumer Discretionary 27.42%
3 Communication Services 13.53%
4 Materials 1.21%
5 Financials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BABA icon
1
Alibaba
BABA
$292B
$106M 27.38%
862,604
-521,118
-38% -$78.3M
PAGS icon
2
PagSeguro Digital
PAGS
$2.69B
$53.2M 13.81%
5,004,811
+554,651
+12% +$5.78M
STNE icon
3
StoneCo
STNE
$2.77B
$47.9M 12.42%
3,354,763
-2,000
-0.1% -$30.7K
DQ
4
Daqo New Energy
DQ
$828M
$36.4M 9.44%
1,742,664
+283,959
+19% +$6.92M
BIDU icon
5
Baidu
BIDU
$37.7B
$32.1M 8.33%
288,440
-125,056
-30% -$17M
ACMR icon
6
ACM Research
ACMR
$5.44B
$31.8M 8.25%
+763,318
New +$40.5M
YMM icon
7
Full Truck Alliance
YMM
$9.84B
$26.1M 6.77%
3,152,833
+700
+0% +$6.66K
CSIQ icon
8
Canadian Solar
CSIQ
$1.02B
$25.6M 6.65%
2,001,869
-7,900
-0.4% -$150K
ATHM icon
9
Autohome
ATHM
$2.68B
$20M 5.18%
1,142,966
-900
-0.1% -$18.5K
GAU
10
Galiano Gold
GAU
$452M
$4.66M 1.21%
1,847,117
-13,100
-0.7% -$37.1K
ASHR icon
11
Xtrackers Harvest CSI 300 China A-Shares ETF
ASHR
$1.54B
$749K 0.19%
23,183
– –
KWEB icon
12
KraneShares CSI China Internet ETF
KWEB
$5.63B
$541K 0.14%
19,226
– –
CAN
13
Canaan Creative
CAN
$142M
$495K 0.13%
1,194,556
– –
MX icon
14
Magnachip Semiconductor
MX
$119M
$164K 0.04%
57,011
-278,137
-83% -$793K
BZUN
15
Baozun
BZUN
$166M
$153K 0.04%
60,222
– –
DOYU
16
DouYu International Holdings
DOYU
$139M
$59K 0.02%
12,198
-265,630
-96% -$1.52M
BVN icon
17
Compañía de Minas Buenaventura
BVN
$7.71B
– –
-540,381
Closed -$18.7M
CGAU
18
Centerra Gold
CGAU
$3.37B
– –
-491,629
Closed -$8.19M
HIMX
19
Himax Technologies
HIMX
$2.2B
– –
-706,750
Closed -$6.07M
HUYA
20
Huya Inc
HUYA
$565M
– –
-2,719,977
Closed -$10.1M
JD icon
21
JD.com
JD
$44.6B
– –
-1,947,668
Closed -$56.3M
LU icon
22
Lufax Holding
LU
$1.35B
– –
-41,924
Closed -$110K
MOMO
23
Hello Group
MOMO
$885M
– –
-853,219
Closed -$5.96M
HTT
24
High Templar Tech Ltd
HTT
$376M
– –
-112,803
Closed -$342K
JOYY
25
JOYY Inc
JOYY
$3.71B
– –
-151,493
Closed -$10.5M

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Polunin Capital Partners's Q1 2026 Portfolio in Review

As of Q1 2026, Polunin Capital Partners held 25 positions worth $385M, down 41% from $649M the previous quarter. Its ten largest holdings account for 99% of the portfolio.

Polunin Capital Partners withdrew a net $161M in Q1 2026, closing 9 positions and reducing 8 holdings. Its most notable exit was JD.com, an estimated $56.3M position sold in full.

By sector, the portfolio is most concentrated in Technology at 58% of assets, up from 33% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, Polunin Capital Partners opened a new position in ACM Research worth $31.8M.

  • Polunin Capital Partners's largest Q1 2026 buy was ACM Research: 763,318 shares worth $31.8M.
  • Polunin Capital Partners added most to Daqo New Energy in Q1 2026, an estimated $6.92M increase.
  • Polunin Capital Partners's biggest Q1 2026 reduction was Alibaba, cutting an estimated $78.3M.
  • Polunin Capital Partners fully exited JD.com in Q1 2026, selling an estimated $56.3M.
  • Polunin Capital Partners's ten largest holdings make up 99% of its $385M portfolio in Q1 2026.
  • Polunin Capital Partners opened 1 new position and closed 9 in Q1 2026.
  • Polunin Capital Partners's portfolio value fell 41% quarter-over-quarter to $385M.

Based on Polunin Capital Partners's 13F filing for Q1 2026, filed 15 Apr 2026.