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Cederberg Capital Ltd

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13F filer, CIK 1861244, LONDON, United Kingdom

Cederberg Capital Ltd reported $350,241,000 across 10 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001861244-25-000010

Period
2025-09-30
Reported value
$350M
Holdings
10
Top 10 weight
100%
New
3
Sold out
1

Part of the filer group Cederberg Capital Ltd

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
PDDadded+243,900$32.2M
ATATnew+630,500$23.7M
ACMRnew+496,500$19.4M
YMMadded+782,700$10.2M
FINVnew+680,600$5.02M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
HTHTexited-698,200-$23.7M
FUTUreduced-70,200-$12.2M
NTESreduced-75,500-$11.5M
EDUreduced-120,800-$6.41M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001861244-25-000010, largest first. % of portfolio is the value over $350,241,000, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
PDDPDD HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 568,300 shares; 2024Q4: 568,300 shares; 2025Q1: 528,700 shares; 2025Q2: 512,000 shares; 2025Q3: 755,900 shares 755,900$99.9M28.53%+243,900Timeline
NTESNETEASE COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 692,475 shares; 2024Q4: 692,475 shares; 2025Q1: 644,975 shares; 2025Q2: 644,975 shares; 2025Q3: 569,475 shares 569,475$86.6M24.71%-75,500Timeline
EDUNEW ORIENTAL ED & TECHNOLOGYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,083,050 shares; 2024Q4: 1,088,050 shares; 2025Q1: 948,900 shares; 2025Q2: 928,518 shares; 2025Q3: 807,718 shares 807,718$42.9M12.24%-120,800Timeline
YMMFULL TRUCK ALLIANCE CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,984,500 shares; 2025Q2: 1,684,300 shares; 2025Q3: 2,467,000 shares 2,467,000$32M9.14%+782,700Timeline
FUTUFUTU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 340,900 shares; 2024Q4: 353,900 shares; 2025Q1: 291,305 shares; 2025Q2: 251,305 shares; 2025Q3: 181,105 shares 181,105$31.5M8.99%-70,200Timeline
ATATATOUR LIFESTYLE HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 630,500 shares 630,500$23.7M6.77%newTimeline
ACMRACM RESH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 496,500 shares 496,500$19.4M5.55%newTimeline
NUNU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 200,000 shares; 2024Q4: 200,000 shares; 2025Q1: 350,600 shares; 2025Q2: 350,600 shares; 2025Q3: 382,900 shares 382,900$6.13M1.75%+32,300Timeline
FINVFINVOLUTION GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 680,600 shares 680,600$5.02M1.43%newTimeline
SESEA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 15,100 shares; 2025Q2: 15,100 shares; 2025Q3: 17,600 shares 17,600$3.15M0.9%+2,500Timeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
HTHTH WORLD GROUP LTD698,200$23.7Mshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001861244-25-000010 base2025-11-14acceptance time not in the bulk data set