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Polunin Capital Partners Limited
Douglas Polunin · Asset Manager · Value
Polunin Capital Partners Limited is a London-based investment management firm established in 2001 that specializes in emerging and frontier market equity strategies. The firm manages institutional portfolios through a disciplined, systematic value approach, aiming to identify mispriced publicly listed assets without bias toward specific countries or industries. Their methodology focuses on proprietary valuation metrics, such as enterprise value to replacement value, to pinpoint cyclical turning points and recovery opportunities with asymmetric risk/return profiles. PCP is dedicated to long-term performance for a global clientele, including pension funds and endowments, while integrating environmental, social, and governance considerations into its research process.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | -20.6% |
| YTD return | -17.8% |
| Sharpe ratio | -3.60 |
| Win rate | 43% |
| AUM | $0.8B |
| Inception | Oct 1, 2025 |
| Updated | Sep 18, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $0.8B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://www.polunin.co.uk |
Current Holdings
Updated on Sep 18, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| BABA | Alibaba Group Holding Ltd | 25.9% | -29.3% |
| SBSW | Sibanye Gold Ltd ADR | 16.8% | +7.0% |
| JD | JD.com Inc Adr | 8.1% | -17.4% |
| BIDU | Baidu Inc | 6.9% | -27.2% |
| PAGS | PagSeguro Digital Ltd | 6.7% | -4.3% |
| STNE | StoneCo Ltd | 6.7% | -33.2% |
| DQ | Daqo New Energy Corp ADR | 4.2% | -42.2% |
| YMM | Full Truck Alliance Co Ltd ADR | 3.7% | -28.3% |
| CSIQ | Canadian Solar Inc | 3.4% | -36.7% |
| ATHM | Autohome Inc | 2.8% | -13.4% |
| BVN | Compania de Minas Buenaventura SAA ADR | 2.6% | +22.4% |
| BCS | Barclays PLC ADR | 1.8% | +10.9% |
| KGFHY | Kingfisher PLC ADR | 1.7% | +0.0% |
| LYG | Lloyds Banking Group PLC ADR | 1.7% | +19.2% |
| GSK | GlaxoSmithKline PLC ADR | 1.6% | +4.4% |
| JOYY | JOYY Inc | 1.2% | +30.3% |
| HUYA | HUYA Inc | 1.1% | -29.1% |
| HIMX | Himax Technologies Inc | 1.0% | +10.4% |
| IMPUY | Impala Platinum Holdings Ltd PK | 1.0% | +0.0% |
| ANGPY | Valterra Platinum Limited | 0.9% | 0.0% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Sep 14, 2026 | SELL | JOYY | 1.2% → 1.2% |
| Sep 14, 2026 | BUY | YMM | 3.7% → 3.7% |
| Sep 14, 2026 | SELL | JD | 8.1% → 8.1% |
| Sep 14, 2026 | BUY | BCS | 1.8% → 1.8% |
| Sep 14, 2026 | SELL | ATHM | 2.8% → 2.8% |
Investment Style Analysis
Polunin Capital Partners Limited is widely recognized for employing a Value strategy. As of Sep 18, 2026, the firm oversees approximately $0.8B in assets under management (AUM). The portfolio demonstrates a clear preference for the Internet Retail and Other Precious Metals & Mining sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Sep 14, Polunin Capital Partners Limited made a significant move by reducing the position in JOYY. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
Polunin Capital Partners believes that markets are inherently cyclical and consistently oscillate around secular trends driven by predictable human behavior. Their philosophy centers on exploiting these market cycles through a disciplined, contrarian approach. They utilize proprietary valuation models to filter out market noise and identify materially mispriced investment opportunities, specifically monitoring metrics such as the ratio of enterprise value to replacement value. By focusing on intrinsic value and potential catalysts like corporate restructuring, the firm seeks to reap asymmetric returns over a medium- to long-term investment horizon.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Polunin Capital Partners Limited.
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Frequently asked questions
How is the simulated portfolio for Polunin Capital Partners Limited constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Polunin Capital Partners Limited's largest holding?
As of the latest filing, Polunin Capital Partners Limited's top position is Alibaba Group Holding Ltd (BABA), representing 25.9% of the portfolio. This reflects a high-conviction bet by the institution.
What is Polunin Capital Partners Limited's historical performance and risk profile?
Our simulation indicates a total return of -20.6% with a win rate of 43%. Notably, the portfolio maintains a Sharpe Ratio of -3.60, suggesting an standard level of risk-adjusted returns compared to the broader market.
What sectors does Polunin Capital Partners Limited primarily invest in?
Polunin Capital Partners Limited has a strong preference for the Internet Retail sector, which makes up 34.0% of their disclosed assets. The portfolio also has exposure to Other Precious Metals & Mining, indicating a specific thematic focus.
Is Polunin Capital Partners Limited's portfolio concentrated or diversified?
Polunin Capital Partners Limited runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 50.8% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Polunin Capital Partners Limited performed in 2026?
Our AI-simulated model portfolio for Polunin Capital Partners Limited tracks a Year-to-Date (YTD) return of -17.8%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Douglas Polunin manage Polunin Capital Partners Limited directly?
Yes, Douglas Polunin serves as the key portfolio manager for Polunin Capital Partners Limited, overseeing the investment strategy and final capital allocation decisions.