# Polunin Capital Partners Ltd

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1629869. Source: https://holderbook.com/funds/1629869-polunin-capital-partners-ltd/

- Reported value: $407.4M
- Positions: 19
- Weight of the ten largest: 92.8%
- Filed: 2026-07-15

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ACM RESH INC | [ACMR](https://holderbook.com/stocks/ACMR/) | $77.1M | 748,498 | 18.9% | 2 |
| JD.COM INC | [JD](https://holderbook.com/stocks/JD/) | $55.5M | 1,967,136 | 13.6% | 1 |
| PAGSEGURO DIGITAL LTD | [PAGS](https://holderbook.com/stocks/PAGS/) | $45.5M | 4,918,011 | 11.2% | 16 |
| STONECO LTD | [STNE](https://holderbook.com/stocks/STNE/) | $39.3M | 3,508,909 | 9.7% | 13 |
| BAIDU INC | [BIDU](https://holderbook.com/stocks/BIDU/) | $33.3M | 283,440 | 8.2% | 6 |
| CANADIAN SOLAR INC | [CSIQ](https://holderbook.com/stocks/CSIQ/) | $31.8M | 2,120,414 | 7.8% | 3 |
| FULL TRUCK ALLIANCE CO LTD | [YMM](https://holderbook.com/stocks/YMM/) | $26.6M | 3,098,533 | 6.5% | 8 |
| AUTOHOME INC | [ATHM](https://holderbook.com/stocks/ATHM/) | $25.1M | 1,234,149 | 6.1% | 17 |
| WEIBO CORP | [WB](https://holderbook.com/stocks/WB/) | $22.6M | 2,926,338 | 5.5% | 1 |
| DAQO NEW ENERGY CORP | [DQ](https://holderbook.com/stocks/DQ/) | $21.3M | 1,714,923 | 5.2% | 4 |
| HIMAX TECHNOLOGIES INC | [HIMX](https://holderbook.com/stocks/HIMX/) | $10.6M | 696,950 | 2.6% | 1 |
| TUYA INC | [TUYA](https://holderbook.com/stocks/TUYA/) | $5.4M | 2,958,145 | 1.3% | 1 |
| HELLO GROUP INC | [MOMO](https://holderbook.com/stocks/MOMO/) | $5.1M | 835,119 | 1.2% | 1 |
| ABRDN PLATINUM ETF TRUST | [PPLT](https://holderbook.com/stocks/PPLT/) | $3.6M | 243,370 | 0.9% | 1 |
| GALIANO GOLD INC | [GAU](https://holderbook.com/stocks/GAU/) | $3.4M | 1,834,017 | 0.8% | 3 |
| DBX ETF TR | [ASHR](https://holderbook.com/stocks/ASHR/) | $820.0K | 23,183 | 0.2% | 13 |
| MAGNACHIP SEMICONDUCTOR CORP | [MX](https://holderbook.com/stocks/MX/) | $240.0K | 59,811 | 0.1% | 19 |
| BAOZUN INC | [BZUN](https://holderbook.com/stocks/BZUN/) | $171.0K | 60,222 | 0.0% | 4 |
| CANAAN INC | [CAN](https://holderbook.com/stocks/CAN/) | $23.0K | 74,382 | 0.0% | 18 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +4.4% | +14.8% | -10.4% | 100% |
| Q1 2026 | -12.5% | -4.6% | -7.8% | 95% |
| Q4 2025 | -12.7% | +2.4% | -15.0% | 98% |
| Q3 2025 | +28.9% | +7.8% | +21.1% | 89% |
| Q2 2025 | -0.2% | +10.5% | -10.7% | 120% |
| Q1 2025 | +12.0% | -4.6% | +16.6% | 96% |
| Q4 2024 | -10.3% | +2.1% | -12.4% | 103% |
| Q3 2024 | +7.6% | +5.4% | +2.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $407.4M | 19 |
| Q1 2026 | $385.4M | 16 |
| Q4 2025 | $649.1M | 24 |
| Q3 2025 | $680.0M | 24 |
| Q2 2025 | $611.9M | 27 |
| Q1 2025 | $495.0M | 27 |
| Q4 2024 | $404.4M | 25 |
| Q3 2024 | $427.4M | 26 |
| Q2 2024 | $586.7M | 26 |
| Q1 2024 | $657.4M | 24 |
| Q4 2023 | $534.0M | 27 |
| Q3 2023 | $444.6M | 29 |