Cape Ann Asset Management Ltd
Cape Ann Asset Management Ltd reported 12 US-listed holdings worth $434.4 million in its 13F for the quarter ended 30 June 2026, filed 11 August 2026. Its largest: Kinross Gold Corp. (19.1%), Vista Energy S.a.b. De C.V. (14.4%) and Ero Copper Corp. (12.6%). Against the quarter before, it opened 1 position, added to 3, trimmed 8 and sold out of 0.
The 12 largest of its 12 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned +71.9% over the 7 quarters to 30 June 2026, against +30.2% for the S&P 500.
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held
Opened 1
- Tencent Music Entertainment Group TME$37.0 million
Added to 3
- Eldorado Gold Corp. New EGO+174,412 shares · +23%
- Vista Energy S.a.b. De C.V. VIST+47,851 shares · +5%
- Ero Copper Corp. ERO+104,577 shares · +5%
Trimmed 8
- Laureate Education, Inc. LAUR-526,385 shares · -99%
- Kinross Gold Corp. KGC-260,770 shares · -7%
- Ternium SA TX-71,387 shares · -7%
- Banco Macro SA BMA-30,990 shares · -7%
- Credicorp Ltd BAP-7,248 shares · -7%
- Copa Holdings SA CPA-9,992 shares · -7%
- Kaspi KZ JSC KSPI-11,632 shares · -7%
- Petroleo Brasileiro SA Petro PBRA-53,900 shares · -9%
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| Kinross Gold Corp. KGC | 3.5M | $82.9 million | 19.09% | -260.8K |
| Vista Energy S.a.b. De C.V. VIST | 979.7K | $62.5 million | 14.39% | +47.9K |
| Ero Copper Corp. ERO | 2.1M | $54.9 million | 12.65% | +104.6K |
| Ternium SA TX | 996.4K | $42.5 million | 9.79% | -71.4K |
| Banco Macro SA BMA | 439.9K | $40.7 million | 9.38% | -31.0K |
| Credicorp Ltd BAP | 103.1K | $40.2 million | 9.25% | -7.2K |
| Tencent Music Entertainment Group TME | 4.4M | $37.0 million | 8.51% | new |
| Eldorado Gold Corp. New EGO | 933.1K | $29.0 million | 6.68% | +174.4K |
| Copa Holdings SA CPA | 143.3K | $22.3 million | 5.13% | -10.0K |
| Kaspi KZ JSC KSPI | 163.9K | $14.2 million | 3.27% | -11.6K |
| Petroleo Brasileiro SA Petro PBRA | 540.9K | $7.9 million | 1.82% | -53.9K |
| Laureate Education, Inc. LAUR | 6.6K | $241,056 | 0.06% | -526.4K |