Cape Ann Asset Management Ltd
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Cape Ann Asset Management Ltd reported 11 stock positions worth $440.3 million. Its top holding was Kinross Gold (KGC) at 26.1% of the portfolio, followed by Vista Energy Sab DE CV (VIST, 16.0%) and Ero Copper (ERO, 11.8%). Compared with Q4 2025, it opened 1 new position, added to 6 and reduced 4. The biggest buy was Vista Energy Sab DE CV (VIST, shares +35%) and the biggest sale Copa Class A (CPA, shares −30%).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0001768237
- Portfolio Value
- $440.3M (Q1 2026)
- SEC Filing
- 0000929638-26-001859 ↗ filed May 14, 2026
Holdings Value
Holdings 11 stocks · $440.3M
| KGC Kinross Gold Corp. | 26.14% | 3,771,084 | $115.1M | Add +6.6% |
| VIST Vista Energy Sab DE CV | 15.97% | 931,842 | $70.3M | Add +35.1% |
| ERO Ero Copper Corp. | 11.81% | 1,949,128 | $52.0M | Add +13.5% |
| TX Ternium SA-Sponsored ADR | 9.74% | 1,067,811 | $42.9M | Reduce -0.1% |
| BAP Credicorp Ltd. | 8.50% | 110,353 | $37.4M | Reduce -0.0% |
| BMA Banco Macro SA-ADR | 8.27% | 470,908 | $36.4M | Add +1.3% |
| EGO Eldorado Gold Corp. | 5.92% | 758,654 | $26.0M | New |
| LAUR Laureate Education Inc. | 4.22% | 533,022 | $18.6M | Reduce -27.5% |
| CPA Copa Holdings SA Class A | 3.95% | 153,248 | $17.4M | Reduce -30.3% |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 2.95% | 175,512 | $13.0M | Add +0.2% |
| PBR.A Petroleo Brasil-SP Pref ADR | 2.53% | 594,813 | $11.2M | Add +3.6% |
Portfolio Sells Q4 2025 → Q1 2026
Portfolio Buys Q4 2025 → Q1 2026
| VIST Vista Energy Sab DE CV | Add +35.1% | 15.97% | +6.84 |
| EGO Eldorado Gold Corp. | New | 5.92% | +5.92 |
| PBR.A Petroleo Brasil-SP Pref ADR | Add +3.6% | 2.53% | +0.77 |
| KSPI JSC Kaspi.kz ADR | Add +0.2% | 2.95% | −0.77 |
| KGC Kinross Gold Corp. | Add +6.6% | 26.14% | −0.96 |
| ERO Ero Copper Corp. | Add +13.5% | 11.81% | −1.41 |
| BMA Banco Macro SA-ADR | Add +1.3% | 8.27% | −3.13 |
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 |