Polunin Capital Partners Ltd
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 15, 2026), Polunin Capital Partners Ltd reported 19 stock positions worth $407.4 million. Its top holding was Acm Research Class A (ACMR) at 18.9% of the portfolio, followed by Jd.com Inc.-ADR (JD, 13.6%) and Pagseguro Digital Class A (PAGS, 11.2%). Compared with Q1 2026, it opened 6 new positions, sold out of 3, added to 4 and reduced 7. The biggest buy was a new position in Jd.com Inc.-ADR (JD) and the biggest sale an exit from Alibaba Group Holding-SP ADR (BABA).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0001629869
- Portfolio Value
- $407.4M (Q2 2026)
- SEC Filing
- 0001629869-26-000004 ↗ filed Jul 15, 2026
Holdings Value
Holdings 19 stocks · $407.4M
| ACMR Acm Research Inc. Class A | 18.92% | 748,498 | $77.1M | Reduce -1.9% |
| JD Jd.com Inc.-ADR | 13.62% | 1,967,136 | $55.5M | New |
| PAGS Pagseguro Digital Ltd. Class A | 11.17% | 4,918,011 | $45.5M | Reduce -1.7% |
| STNE Stoneco Ltd. Class A | 9.65% | 3,508,909 | $39.3M | Add +4.6% |
| BIDU Baidu Inc. - Spon ADR | 8.18% | 283,440 | $33.3M | Reduce -1.7% |
| CSIQ Canadian Solar Inc. | 7.82% | 2,120,414 | $31.8M | Add +5.9% |
| YMM Full Truck Alliance -SPN ADR | 6.52% | 3,098,533 | $26.6M | Reduce -1.7% |
| ATHM Autohome Inc.-ADR | 6.15% | 1,234,149 | $25.1M | Add +8.0% |
| WB Weibo Corp.-Spon ADR | 5.54% | 2,926,338 | $22.6M | New |
| DQ Daqo New Energy Corp.-ADR | 5.22% | 1,714,923 | $21.3M | Reduce -1.6% |
| HIMX Himax Technologies Inc.-ADR | 2.61% | 696,950 | $10.6M | New |
| TUYA Tuya Inc. | 1.34% | 2,958,145 | $5.4M | New |
| MOMO Hello Group Inc. -SPN ADR | 1.24% | 835,119 | $5.1M | New |
| PPLT Abrdn Physical Platinum SHRS | 0.88% | 243,370 | $3.6M | New |
| GAU Galiano Gold Inc. | 0.84% | 1,834,017 | $3.4M | Reduce -0.7% |
| ASHR Xtrackers Harvest Csi 300 CH | 0.20% | 23,183 | $820K | No change |
| MX Magnachip Semiconductor Corp. | 0.06% | 59,811 | $240K | Add +4.9% |
| BZUN Baozun Inc.-SPN ADR | 0.04% | 60,222 | $171K | No change |
| CAN Canaan Inc. | 0.01% | 74,382 | $23K | Reduce -93.8% |
Portfolio Sells Q1 2026 → Q2 2026
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −27.38 |
| DQ Daqo New Energy Corp.-ADR | Reduce -1.6% | 5.22% | −4.22 |
| PAGS Pagseguro Digital Ltd. Class A | Reduce -1.7% | 11.17% | −2.64 |
| GAU Galiano Gold Inc. | Reduce -0.7% | 0.84% | −0.37 |
| YMM Full Truck Alliance -SPN ADR | Reduce -1.7% | 6.52% | −0.26 |
| BIDU Baidu Inc. - Spon ADR | Reduce -1.7% | 8.18% | −0.15 |
| KWEB Kranesh Csi China Internet | Sold out | 0.00% | −0.14 |
| CAN Canaan Inc. | Reduce -93.8% | 0.01% | −0.12 |
| DOYU Douyu International Hold-ADR | Sold out | 0.00% | −0.02 |
| ACMR Acm Research Inc. Class A | Reduce -1.9% | 18.92% | +10.67 |
Portfolio Buys Q1 2026 → Q2 2026
| JD Jd.com Inc.-ADR | New | 13.62% | +13.62 |
| WB Weibo Corp.-Spon ADR | New | 5.54% | +5.54 |
| HIMX Himax Technologies Inc.-ADR | New | 2.61% | +2.61 |
| TUYA Tuya Inc. | New | 1.34% | +1.34 |
| MOMO Hello Group Inc. -SPN ADR | New | 1.24% | +1.24 |
| CSIQ Canadian Solar Inc. | Add +5.9% | 7.82% | +1.17 |
| ATHM Autohome Inc.-ADR | Add +8.0% | 6.15% | +0.96 |
| PPLT Abrdn Physical Platinum SHRS | New | 0.88% | +0.88 |
| MX Magnachip Semiconductor Corp. | Add +4.9% | 0.06% | +0.02 |
| STNE Stoneco Ltd. Class A | Add +4.6% | 9.65% | −2.77 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 19 | $407.4M | ACMR, JD, PAGS, STNE, BIDU |
| Q1 2026 | 16 | $385.4M | BABA, PAGS, STNE, DQ, BIDU |
| Q4 2025 | 24 | $649.1M | BABA, BIDU, JD, STNE, PAGS |
| Q3 2025 | 24 | $680.0M | BABA, JD, STNE, BIDU, YMM |
| Q2 2025 | 27 | $611.9M | BABA, BRFS, JD, STNE, YMM |
| Q1 2025 | 27 | $495.0M | BABA, JD, BRFS, STNE, YMM |
| Q4 2024 | 25 | $404.4M | JD, BRFS, YMM, BABA, STNE |
| Q3 2024 | 26 | $427.4M | JD, BRFS, BABA, STNE, PAGS |
| Q2 2024 | 27 | $586.7M | HMY, BVN, BRFS, KGC, PAGS |
| Q1 2024 | 24 | $657.4M | HMY, BVN, STNE, BRFS, PAGS |