Cape Ann Asset Management Ltd

Name: Cape Ann Asset Management Ltd 13F holdings, Q2 2025
Creator: Cape Ann Asset Management Ltd
Published: 2025-08-11

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 11, 2025), Cape Ann Asset Management Ltd reported 9 stock positions worth $233.5 million. Its top holding was Kinross Gold (KGC) at 23.8% of the portfolio, followed by Credicorp (BAP, 14.8%) and Vista Energy Sab DE CV (VIST, 12.1%). Compared with Q1 2025, it opened 2 new positions, added to 1 and reduced 5. The biggest buy was a new position in Vista Energy Sab DE CV (VIST) and the biggest sale Ternium SA-Sponsored ADR (TX, shares −1%).

Most Recent 13F: Q2 2026
Location: LONDON, X0
CIK: 0001768237
Portfolio Value: $233.5M (Q2 2025)
SEC Filing: 0000950123-25-007431 ↗ filed Aug 11, 2025

Holdings Value

Holdings 9 stocks · $233.5M


KGC Kinross Gold Corp.	23.76%	3,549,638	$55.5M	Reduce -0.5%
BAP Credicorp Ltd.	14.85%	155,097	$34.7M	Reduce -0.6%
VIST Vista Energy Sab DE CV	12.11%	591,200	$28.3M	New
TX Ternium SA-Sponsored ADR	11.57%	897,049	$27.0M	Reduce -0.7%
CPA Copa Holdings SA Class A	10.39%	220,500	$24.2M	Reduce -0.6%
LAUR Laureate Education Inc.	9.26%	924,500	$21.6M	Reduce -0.5%
BMA Banco Macro SA-ADR	8.35%	277,516	$19.5M	Add +38.1%
ERO Ero Copper Corp.	7.48%	1,036,408	$17.5M	New
PBR.A Petroleo Brasil-SP Pref ADR	2.25%	454,611	$5.2M	No change

Portfolio Sells Q1 2025 → Q2 2025


TX Ternium SA-Sponsored ADR	Reduce -0.7%	11.57%	−5.72
KGC Kinross Gold Corp.	Reduce -0.5%	23.76%	−3.87
BAP Credicorp Ltd.	Reduce -0.6%	14.85%	−3.00
LAUR Laureate Education Inc.	Reduce -0.5%	9.26%	−2.41
CPA Copa Holdings SA Class A	Reduce -0.6%	10.39%	−2.21

Portfolio Buys Q1 2025 → Q2 2025


VIST Vista Energy Sab DE CV	New	12.11%	+12.11
ERO Ero Copper Corp.	New	7.48%	+7.48
BMA Banco Macro SA-ADR	Add +38.1%	8.35%	−0.98

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	12	$434.4M	KGC, VIST, ERO, TX, BMA
Q1 2026	11	$440.3M	KGC, VIST, ERO, TX, BAP
Q4 2025	10	$367.6M	KGC, ERO, BMA, TX, VIST
Q3 2025	11	$296.8M	KGC, TX, BAP, LAUR, CPA
Q2 2025	9	$233.5M	KGC, BAP, VIST, TX, CPA
Q1 2025Amended	7	$162.8M	KGC, BAP, TX, CPA, LAUR
Q4 2024	8	$158.7M	KGC, BAP, TX, BMA, CPA
Q3 2024	6	$146.1M	BAP, KGC, TX, LAUR, JOYY
Q2 2024	6	$116.5M	BAP, TX, KGC, JOYY, PBR.A
Q1 2024	5	$112.3M	BAP, TX, KGC, PBR.A, LU