Skip to content
Disclosery

Polunin Capital Partners Ltd

Follow

13F filer, CIK 1629869, LONDON, United Kingdom

Polunin Capital Partners Ltd reported $611,906,000 across 27 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-07-10. Its ten largest share positions make up 88.57% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001629869-25-000007

Period
2025-06-30
Reported value
$612M
Holdings
27
Top 10 weight
88.57%
New
0
Sold out
0

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BABAadded+101,514$11M
UGPadded+776,808$2.58M
HUYAadded+837,372$2.07M
JDadded+35,747$1.17M

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
BRF SAreduced-37,600-$149K
STNEreduced-8,000-$130K
YMMreduced-8,600-$109K
BIDUreduced-1,100-$99.3K
PAGSreduced-10,100-$93K

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, Q2 2025

Share positions as resolved from 13F-HR 0001629869-25-000007, largest first. % of portfolio is the value over $611,908,000, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 423,176 shares; 2024Q4: 416,576 shares; 2025Q1: 1,325,120 shares; 2025Q2: 1,426,634 shares 1,426,634$154M25.18%+101,514Timeline
BRF SABRF SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 17,380,664 shares; 2024Q4: 17,229,964 shares; 2025Q1: 16,867,111 shares; 2025Q2: 16,829,511 shares 16,829,511$66.8M10.92%-37,600
JDJD.COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,058,917 shares; 2024Q4: 2,024,517 shares; 2025Q1: 2,002,109 shares; 2025Q2: 2,037,856 shares 2,037,856$66.6M10.89%+35,747Timeline
STNESTONECO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,570,566 shares; 2024Q4: 3,534,266 shares; 2025Q1: 3,472,288 shares; 2025Q2: 3,464,288 shares 3,464,288$56.5M9.23%-8,000Timeline
YMMFULL TRUCK ALLIANCE CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,337,424 shares; 2024Q4: 3,308,322 shares; 2025Q1: 3,255,746 shares; 2025Q2: 3,247,146 shares 3,247,146$41.2M6.74%-8,600Timeline
PAGSPAGSEGURO DIGITAL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,973,054 shares; 2024Q4: 3,920,754 shares; 2025Q1: 3,845,471 shares; 2025Q2: 3,835,371 shares 3,835,371$35.3M5.77%-10,100Timeline
ATHMAUTOHOME INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,052,721 shares; 2024Q4: 1,037,821 shares; 2025Q1: 1,192,015 shares; 2025Q2: 1,189,315 shares 1,189,315$32M5.23%-2,700Timeline
UGPULTRAPAR PARTICIPACOES SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 8,680,434 shares; 2025Q2: 9,457,242 shares 9,457,242$31.4M5.13%+776,808Timeline
BIDUBAIDU INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 344,972 shares; 2025Q2: 343,872 shares 343,872$31M5.07%-1,100Timeline
HSAIHESAI GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,027,400 shares; 2024Q4: 1,210,817 shares; 2025Q1: 1,180,242 shares; 2025Q2: 1,180,242 shares 1,180,242$26.9M4.4%0Timeline
RYAAYRYANAIR HOLDINGS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 210,331 shares; 2025Q2: 210,331 shares 210,331$12.4M2.02%0Timeline
JOYYJOYY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 171,800 shares; 2024Q4: 171,800 shares; 2025Q1: 167,377 shares; 2025Q2: 167,377 shares 167,377$8.98M1.47%0Timeline
BVNCOMPANIA DE MINAS BUENAVENTUQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 499,281 shares; 2025Q2: 499,281 shares 499,281$8.1M1.32%0Timeline
HIMXHIMAX TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 779,368 shares; 2024Q4: 779,368 shares; 2025Q1: 758,268 shares; 2025Q2: 758,268 shares 758,268$6.98M1.14%0Timeline
MOMOHELLO GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 726,195 shares; 2024Q4: 726,195 shares; 2025Q1: 706,495 shares; 2025Q2: 706,495 shares 706,495$6.2M1.01%0Timeline
WBWEIBO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 502,338 shares; 2024Q4: 575,750 shares; 2025Q1: 561,050 shares; 2025Q2: 561,050 shares 561,050$5.48M0.9%0Timeline
HUYAHUYA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,274,300 shares; 2024Q4: 1,274,300 shares; 2025Q1: 1,241,300 shares; 2025Q2: 2,078,672 shares 2,078,672$5.13M0.84%+837,372Timeline
NIUNIU TECHNOLOGIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,100,262 shares; 2024Q4: 1,100,262 shares; 2025Q1: 1,072,062 shares; 2025Q2: 1,072,062 shares 1,072,062$3.82M0.62%0Timeline
CGAUCENTERRA GOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 544,115 shares; 2024Q4: 544,115 shares; 2025Q1: 529,115 shares; 2025Q2: 529,115 shares 529,115$3.75M0.61%0Timeline
DOYUDOUYU INTL HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 312,030 shares; 2024Q4: 312,030 shares; 2025Q1: 303,530 shares; 2025Q2: 303,530 shares 303,530$2.14M0.35%0Timeline
MXMAGNACHIP SEMICONDUCTOR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 367,195 shares; 2024Q4: 367,195 shares; 2025Q1: 358,495 shares; 2025Q2: 358,495 shares 358,495$1.45M0.24%0Timeline
KWEBKRANESHARES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 41,100 shares; 2024Q4: 41,100 shares; 2025Q1: 41,100 shares; 2025Q2: 41,100 shares 41,100$1.42M0.23%0Timeline
ASHRDBX ETF TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 40,845 shares; 2024Q4: 40,845 shares; 2025Q1: 40,845 shares; 2025Q2: 40,845 shares 40,845$1.14M0.19%0Timeline
TALTAL ED GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 92,426 shares; 2024Q4: 92,426 shares; 2025Q1: 92,426 shares; 2025Q2: 92,426 shares 92,426$966K0.16%0Timeline
CANCANAAN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,380,741 shares; 2024Q4: 1,380,741 shares; 2025Q1: 1,346,141 shares; 2025Q2: 1,346,141 shares 1,346,141$963K0.16%0Timeline
HTTHIGH TEMPLAR TECHNOLOGY LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 241,154 shares; 2024Q4: 241,154 shares; 2025Q1: 241,154 shares; 2025Q2: 241,154 shares 241,154$779K0.13%0Timeline
LULUFAX HOLDING LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 89,626 shares; 2024Q4: 89,626 shares; 2025Q1: 89,626 shares; 2025Q2: 89,626 shares 89,626$246K0.04%0Timeline

How Q2 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 0001629869-25-000007 base2025-07-10acceptance time not in the bulk data set