Cape Ann Asset Management Ltd's Q4 2025 13F: 1 exit
Form 13F-HR for the quarter ended Dec 31, 2025 · filed Feb 13, 2026 · 10 reported positions · accession 0000929638-26-000610
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Increased | ERO COPPER CORP (ERO) | 7.1% | 13.2% | +6.2 pts | +683K sh | +66% |
| Exited | QFIN HOLDINGS INC (QFIN) | 5.0% | — | −5.0 pts | −511K sh | −100% |
| Increased | TERNIUM SA (TX) | 10.4% | 11.1% | +0.7 pts | +182K sh | +21% |
| Reduced | LAUREATE EDUCATION INC (LAUR) | 9.8% | 6.7% | −3.0 pts | −185K sh | −20% |
| Increased | VISTA ENERGY S.A.B. DE C.V. (VIST) | 6.8% | 9.1% | +2.4 pts | +106K sh | +18% |
| Increased | PETROLEO BRASILEIRO SA PETRO (PBRA) | 1.8% | 1.8% | 0.0 pts | +120K sh | +26% |
| Increased | KINROSS GOLD CORP (KGC) | 29.4% | 27.1% | −2.3 pts | +30,300 sh | +1% |
| Increased | BANCO MACRO SA (BMA) | 6.6% | 11.4% | +4.8 pts | +3,800 sh | +1% |
| Increased | CREDICORP LTD (BAP) | 9.8% | 8.6% | −1.2 pts | +900 sh | +1% |
| Increased | COPA HOLDINGS SA (CPA) | 8.7% | 7.2% | −1.5 pts | +1,800 sh | +1% |
| Increased | KASPI KZ JSC (KSPI) | 4.8% | 3.7% | −1.1 pts | +1,400 sh | +1% |
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 — 100.0% of the equity book
Changes in the top 10 this quarter: PBRA entered · QFIN left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | KINROSS GOLD CORP (KGC) | 29.4% | 27.1% | |
| 2 | ERO COPPER CORP (ERO) | 7.1% | 13.2% | |
| 3 | BANCO MACRO SA (BMA) | 6.6% | 11.4% | |
| 4 | TERNIUM SA (TX) | 10.4% | 11.1% | |
| 5 | VISTA ENERGY S.A.B. DE C.V. (VIST) | 6.8% | 9.1% | |
| 6 | CREDICORP LTD (BAP) | 9.8% | 8.6% | |
| 7 | COPA HOLDINGS SA (CPA) | 8.7% | 7.2% | |
| 8 | LAUREATE EDUCATION INC (LAUR) | 9.8% | 6.7% | |
| 9 | KASPI KZ JSC (KSPI) | 4.8% | 3.7% | |
| 10 | PETROLEO BRASILEIRO SA PETRO (PBRA) | 1.8% | 1.8% | Entered the top 10 |
| — | QFIN HOLDINGS INC (QFIN) | 5.0% | 0.0% | 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).