Cape Ann Asset Management Ltd's Q3 2025 13F: 2 new positions
Form 13F-HR for the quarter ended Sep 30, 2025 · filed Nov 10, 2025 · 11 reported positions · accession 0000929638-25-004194
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| New | QFIN HOLDINGS INC (QFIN) | — | 5.0% | +5.0 pts | +511K sh | new |
| New | KASPI KZ JSC (KSPI) | — | 4.8% | +4.8 pts | +174K sh | new |
| Reduced | CREDICORP LTD (BAP) | 14.8% | 9.8% | −5.0 pts | −45,600 sh | −29% |
| Increased | BANCO MACRO SA (BMA) | 8.3% | 6.6% | −1.8 pts | +184K sh | +66% |
| Reduced | KINROSS GOLD CORP (KGC) | 23.8% | 29.4% | +5.6 pts | −41,700 sh | −1% |
| Reduced | TERNIUM SA (TX) | 11.6% | 10.4% | −1.2 pts | −10,400 sh | −1% |
| Reduced | COPA HOLDINGS SA (CPA) | 10.4% | 8.7% | −1.7 pts | −2,500 sh | −1% |
| Reduced | VISTA ENERGY S.A.B. DE C.V. (VIST) | 12.1% | 6.8% | −5.3 pts | −7,600 sh | −1% |
| Reduced | LAUREATE EDUCATION INC (LAUR) | 9.3% | 9.8% | +0.5 pts | −5,000 sh | −1% |
| Reduced | ERO COPPER CORP (ERO) | 7.5% | 7.1% | −0.4 pts | −1,265 sh | 0% |
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 98.2% of the equity book
Changes in the top 10 this quarter: QFIN entered · KSPI entered · PBRA left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | KINROSS GOLD CORP (KGC) | 23.8% | 29.4% | |
| 2 | TERNIUM SA (TX) | 11.6% | 10.4% | |
| 3 | CREDICORP LTD (BAP) | 14.8% | 9.8% | |
| 4 | LAUREATE EDUCATION INC (LAUR) | 9.3% | 9.8% | |
| 5 | COPA HOLDINGS SA (CPA) | 10.4% | 8.7% | |
| 6 | ERO COPPER CORP (ERO) | 7.5% | 7.1% | |
| 7 | VISTA ENERGY S.A.B. DE C.V. (VIST) | 12.1% | 6.8% | |
| 8 | BANCO MACRO SA (BMA) | 8.3% | 6.6% | |
| 9 | QFIN HOLDINGS INC (QFIN) | 0.0% | 5.0% | Entered the top 10 |
| 10 | KASPI KZ JSC (KSPI) | 0.0% | 4.8% | Entered the top 10 |
| — | PETROLEO BRASILEIRO SA PETRO (PBRA) | 2.2% | 1.8% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).