Polunin Capital Partners Ltd

Q4 2025 13F-HR Holdings

Location
London, X0
Holdings as of
12/31/2025
Date filed
1/20/2026
Form type
13F-HR
Num holdings
24
Total value ($000)
$649,082
Net value change ($000)
-30,964 (-4.6%)
New positions
2
Sold out positions
2
Turnover %
10.5%
Sector allocation + QoQ delta (equities-only)
Prev filing: 10/7/2025 Next filing: 4/15/2026 SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
CSIQ 43,692 NEW
BVN 6,513 53.3%
GAU 5,171 NEW
PAGSEGURO DIGITAL LTD 3,405 8.2%
BIDU 3,274 5.6%
CGAU 2,333 39.8%
HUYA 1,849 22.4%
JOYY 932 9.7%
Top Reduces (Value $000, Stocks/ETFs)
BABA -30,921 -11.9%
JD -13,516 -19.4%
RYAAY -12,515 -100.0%
STNE -11,726 -19.4%
YMM -11,005 -26.1%
NIU -6,603 -100.0%
ATHM -6,374 -19.4%
KWEB -1,066 -60.8%
CAN -767 -44.9%
QD -731 -68.1%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type