Cape Ann Asset Management Ltd Concentrated Active

Location: LONDON, X0

CIK: 0001768237 · Show all filings

Period: Q1 2026 (← Previous)

Filing Date: May 14, 2026

Total Value ($000): $440,318 (100.0% shares, 0.0% debt)

Holdings (11)

New Positions (1)

EGO ELDORADO GOLD CORP 5.9%

Value ($000) $26,045 Shares 758,654 Est. Cost $42.64 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EGO	ELDORADO GOLD CORP	758,654	$26,045	5.9%	$42.64	0.0%	COM	284902509

Increased Positions (5)

VIST VISTA ENERGY S.A.B. DE C.V. 16.0%

Value ($000) $70,326 (+109.5%) Shares 931,842 (+35.1%) Est. Cost $55.09 Unrealized —

KGC KINROSS GOLD CORP 26.1%

Value ($000) $115,093 (+15.5%) Shares 3,771,084 (+6.6%) Est. Cost $7.09 Unrealized +376.4%

BMA BANCO MACRO SA 8.3%

Value ($000) $36,434 (-13.1%) Shares 470,908 (+1.3%) Est. Cost $70.74 Unrealized —

PBR/A PETROLEO BRASILEIRO SA PETRO 2.5%

Value ($000) $11,153 (+72.3%) Shares 594,813 (+3.6%) Est. Cost $10.42 Unrealized —

ERO ERO COPPER CORP 11.8%

Value ($000) $51,983 (+7.0%) Shares 1,949,128 (+13.5%) Est. Cost $19.10 Unrealized +66.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VIST	VISTA ENERGY S.A.B. DE C.V.	931,842 (+35.1%)	$70,326 (+109.5%)	16.0%	$55.09	—	SPONSORED ADS	92837L109
KGC	KINROSS GOLD CORP	3,771,084 (+6.6%)	$115,093 (+15.5%)	26.1%	$7.09	+376.4%	COM	496902404
BMA	BANCO MACRO SA	470,908 (+1.3%)	$36,434 (-13.1%)	8.3%	$70.74	—	SPON ADR B	05961W105
PBR/A	PETROLEO BRASILEIRO SA PETRO	594,813 (+3.6%)	$11,153 (+72.3%)	2.5%	$10.42	—	SP ADR NON VTG	71654V101
ERO	ERO COPPER CORP	1,949,128 (+13.5%)	$51,983 (+7.0%)	11.8%	$19.10	+66.2%	COM	296006109

Decreased Positions (2)

CPA COPA HOLDINGS SA 4.0%

Value ($000) $17,411 (-34.3%) Shares 153,248 (-30.3%) Est. Cost $88.34 Unrealized +57.2%

LAUR LAUREATE EDUCATION INC 4.2%

Value ($000) $18,570 (-24.9%) Shares 533,022 (-27.5%) Est. Cost $15.28 Unrealized +126.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CPA	COPA HOLDINGS SA	153,248 (-30.3%)	$17,411 (-34.3%)	4.0%	$88.34	+57.2%	CL A	P31076105
LAUR	LAUREATE EDUCATION INC	533,022 (-27.5%)	$18,570 (-24.9%)	4.2%	$15.28	+126.4%	COMMON STOCK	518613203

Unchanged Positions (3)

BAP CREDICORP LTD 8.5%

Value ($000) $37,430 Shares 110,353 Est. Cost $128.38 Unrealized +162.4%

TX TERNIUM SA 9.7%

Value ($000) $42,873 Shares 1,067,811 Est. Cost $27.82 Unrealized —

KSPI KASPI KZ JSC 3.0%

Value ($000) $13,000 Shares 175,512 Est. Cost $81.68 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BAP	CREDICORP LTD	110,353	$37,430	8.5%	$128.38	+162.4%	COM	G2519Y108
TX	TERNIUM SA	1,067,811	$42,873	9.7%	$27.82	—	SPONSORED ADS	880890108
KSPI	KASPI KZ JSC	175,512	$13,000	3.0%	$81.68	—	SPONSORED ADS	48581R205