Polunin Capital Partners Ltd Diversified Active

Location: London, United Kingdom

CIK: 0001629869 · Show all filings

Period: Q2 2025 (← Previous) (Next →)

Filing Date: Jul 10, 2025

Total Value: $612M (100.0% shares, 0.0% debt)

Holdings (27)

BABA ALIBABA GROUP HLDG LTD 25.2%

Value $154M Shares 1,426,634 Share Price $107.99 * Est. Cost/Share $105.75 Unrealized @ Report Date +7.2%

— BRF SA 10.9%

Value $66.81M Shares 16,829,511 Share Price $3.97 Est. Cost/Share $2.59 Unrealized @ Report Date —

JD JD.COM INC 10.9%

Value $66.64M Shares 2,037,856 Share Price $32.70 Est. Cost/Share $25.51 Unrealized @ Report Date +27.9%

STNE STONECO LTD 9.2%

Value $56.5M Shares 3,464,288 Share Price $16.31 Est. Cost/Share $13.11 Unrealized @ Report Date —

YMM FULL TRUCK ALLIANCE CO LTD 6.7%

Value $41.24M Shares 3,247,146 Share Price $12.70 * Est. Cost/Share $7.67 Unrealized @ Report Date +54.0%

PAGS PAGSEGURO DIGITAL LTD 5.8%

Value $35.32M Shares 3,835,371 Share Price $9.21 * Est. Cost/Share $11.76 Unrealized @ Report Date -18.0%

ATHM AUTOHOME INC 5.2%

Value $32.03M Shares 1,189,315 Share Price $26.93 * Est. Cost/Share $30.13 Unrealized @ Report Date -14.4%

UGP ULTRAPAR PARTICIPACOES SA 5.1%

Value $31.4M Shares 9,457,242 Share Price $3.32 Est. Cost/Share $2.88 Unrealized @ Report Date +13.9%

BIDU BAIDU INC 5.1%

Value $31.05M Shares 343,872 Share Price $90.28 * Est. Cost/Share $89.77 Unrealized @ Report Date -4.5%

HSAI HESAI GROUP 4.4%

Value $26.92M Shares 1,180,242 Share Price $22.81 * Est. Cost/Share $5.63 Unrealized @ Report Date +289.7%

RYAAY RYANAIR HOLDINGS PLC 2.0%

Value $12.38M Shares 210,331 Share Price $58.84 Est. Cost/Share $45.67 Unrealized @ Report Date +26.3%

JOYY JOYY INC 1.5%

Value $8.985M Shares 167,377 Share Price $53.68 * Est. Cost/Share $36.79 Unrealized @ Report Date +38.4%

BVN COMPANIA DE MINAS BUENAVENTU 1.3%

Value $8.103M Shares 499,281 Share Price $16.23 Est. Cost/Share $13.44 Unrealized @ Report Date +22.2%

HIMX HIMAX TECHNOLOGIES INC 1.1%

Value $6.984M Shares 758,268 Share Price $9.21 * Est. Cost/Share $6.12 Unrealized @ Report Date +45.9%

MOMO HELLO GROUP INC 1.0%

Value $6.203M Shares 706,495 Share Price $8.78 * Est. Cost/Share $5.84 Unrealized @ Report Date +44.6%

WB WEIBO CORP 0.9%

Value $5.481M Shares 561,050 Share Price $9.77 * Est. Cost/Share $8.09 Unrealized @ Report Date +17.8%

HUYA HUYA INC 0.8%

Value $5.134M Shares 2,078,672 Share Price $2.47 * Est. Cost/Share $4.27 Unrealized @ Report Date -17.6%

NIU NIU TECHNOLOGIES 0.6%

Value $3.817M Shares 1,072,062 Share Price $3.56 * Est. Cost/Share $3.85 Unrealized @ Report Date -12.7%

CGAU CENTERRA GOLD INC 0.6%

Value $3.752M Shares 529,115 Share Price $7.09 Est. Cost/Share $6.33 Unrealized @ Report Date +14.0%

DOYU DOUYU INTL HLDGS LTD 0.4%

Value $2.143M Shares 303,530 Share Price $7.06 * Est. Cost/Share $9.32 Unrealized @ Report Date -30.5%

MX MAGNACHIP SEMICONDUCTOR CORP 0.2%

Value $1.445M Shares 358,495 Share Price $4.03 Est. Cost/Share $13.65 Unrealized @ Report Date -70.8%

KWEB KRANESHARES TRUST 0.2%

Value $1.418M Shares 41,100 Share Price $34.50 Est. Cost/Share $27.81 Unrealized @ Report Date +23.5%

ASHR DBX ETF TR 0.2%

Value $1.142M Shares 40,845 Share Price $27.96 Est. Cost/Share $28.25 Unrealized @ Report Date -2.5%

TAL TAL EDUCATION GROUP 0.2%

Value $966K Shares 92,426 Share Price $10.45 * Est. Cost/Share $3.82 Unrealized @ Report Date +167.4%

CAN CANAAN INC 0.2%

Value $963K Shares 1,346,141 Share Price $0.72 * Est. Cost/Share $3.76 Unrealized @ Report Date -83.6%

HTT QUDIAN INC 0.1%

Value $779K Shares 241,154 Share Price $3.23 * Est. Cost/Share $1.18 Unrealized @ Report Date +166.5%

LU LUFAX HOLDING LTD 0.0%

Value $246K Shares 89,626 Share Price $2.74 Est. Cost/Share $2.62 Unrealized @ Report Date +6.6%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
BABA	ALIBABA GROUP HLDG LTD	1,426,634	$154M	25.2%	$107.99 *	$105.75	+7.2%	SPONSORED ADS	01609W102
—	BRF SA	16,829,511	$66.81M	10.9%	$3.97	$2.59	—	SPONSORED ADR	10552T107
JD	JD.COM INC	2,037,856	$66.64M	10.9%	$32.70	$25.51	+27.9%	SPON ADS CL A	47215P106
STNE	STONECO LTD	3,464,288	$56.5M	9.2%	$16.31	$13.11	—	COM CL A	G85158106
YMM	FULL TRUCK ALLIANCE CO LTD	3,247,146	$41.24M	6.7%	$12.70 *	$7.67	+54.0%	SPONSORED ADS	35969L108
PAGS	PAGSEGURO DIGITAL LTD	3,835,371	$35.32M	5.8%	$9.21 *	$11.76	-18.0%	COM CL A	G68707101
ATHM	AUTOHOME INC	1,189,315	$32.03M	5.2%	$26.93 *	$30.13	-14.4%	SP ADS RP CL A	05278C107
UGP	ULTRAPAR PARTICIPACOES SA	9,457,242	$31.4M	5.1%	$3.32	$2.88	+13.9%	SP ADR REP COM	90400P101
BIDU	BAIDU INC	343,872	$31.05M	5.1%	$90.28 *	$89.77	-4.5%	SPON ADR REP A	056752108
HSAI	HESAI GROUP	1,180,242	$26.92M	4.4%	$22.81 *	$5.63	+289.7%	SPONSORED ADS	428050108
RYAAY	RYANAIR HOLDINGS PLC	210,331	$12.38M	2.0%	$58.84	$45.67	+26.3%	SPONSORED ADR	783513203
JOYY	JOYY INC	167,377	$8.985M	1.5%	$53.68 *	$36.79	+38.4%	ADS REPSTG COM A	46591M109
BVN	COMPANIA DE MINAS BUENAVENTU	499,281	$8.103M	1.3%	$16.23	$13.44	+22.2%	SPONSORED ADR	204448104
HIMX	HIMAX TECHNOLOGIES INC	758,268	$6.984M	1.1%	$9.21 *	$6.12	+45.9%	SPONSORED ADR	43289P106
MOMO	HELLO GROUP INC	706,495	$6.203M	1.0%	$8.78 *	$5.84	+44.6%	ADS	423403104
WB	WEIBO CORP	561,050	$5.481M	0.9%	$9.77 *	$8.09	+17.8%	SPONSORED ADR	948596101
HUYA	HUYA INC	2,078,672	$5.134M	0.8%	$2.47 *	$4.27	-17.6%	ADS REP SHS A	44852D108
NIU	NIU TECHNOLOGIES	1,072,062	$3.817M	0.6%	$3.56 *	$3.85	-12.7%	ADS	65481N100
CGAU	CENTERRA GOLD INC	529,115	$3.752M	0.6%	$7.09	$6.33	+14.0%	COM	152006102
DOYU	DOUYU INTL HLDGS LTD	303,530	$2.143M	0.4%	$7.06 *	$9.32	-30.5%	SPONSORED ADS	25985W204
MX	MAGNACHIP SEMICONDUCTOR CORP	358,495	$1.445M	0.2%	$4.03	$13.65	-70.8%	COM	55933J203
KWEB	KRANESHARES TRUST	41,100	$1.418M	0.2%	$34.50	$27.81	+23.5%	CSI CHI INTERNET	500767306
ASHR	DBX ETF TR	40,845	$1.142M	0.2%	$27.96	$28.25	-2.5%	XTRACK HRVST CSI	233051879
TAL	TAL EDUCATION GROUP	92,426	$966K	0.2%	$10.45 *	$3.82	+167.4%	SPONSORED ADS	874080104
CAN	CANAAN INC	1,346,141	$963K	0.2%	$0.72 *	$3.76	-83.6%	SPONSORED ADS	134748102
HTT	QUDIAN INC	241,154	$779K	0.1%	$3.23 *	$1.18	+166.5%	ADR	747798106
LU	LUFAX HOLDING LTD	89,626	$246K	0.0%	$2.74	$2.62	+6.6%	SPONSORED ADR	54975P201