Cape Ann Asset Management portfolio
Concentrated managerInvestment firmPortfolio as of Jun 30, 2026 (Q2 2026) · filed with the SEC on Aug 11, 2026 · data updated on Nov 5, 2026 · Q2 2026 13F (filing) ↗ · all its 13F filings ↗
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Cape Ann Asset Management reported a $434M portfolio of 12 positions to the SEC as of the end of Q2 2026. Its largest positions are KGC, VIST, ERO. During the quarter it opened Tencent Music Entertainment Group.
Sections with a free account
What changed this quarter
12 positions with a change (1 new, 3 added to, 8 trimmed). 9 are listed here: those of 0.5 points of the portfolio or more (up to 12).
- Tencent Music Entertainment Group+8.4 ppof portfolioNew— → 8.5%
- Laureate Education−99%fewer sharesReduced4.2% → 0.1%
- Kinross Gold−6.9%fewer sharesReduced26.1% → 19.1%
- Eldorado Gold+23%more sharesIncreased5.9% → 6.7%
- Vista Energy, S.A.B. de C.V.+5.1%more sharesIncreased16.0% → 14.4%
- Ternium−6.7%fewer sharesReduced9.7% → 9.8%
- Macro Bank−6.6%fewer sharesReduced8.3% → 9.4%
- Credicorp−6.6%fewer sharesReduced8.5% → 9.2%
- ERO Copper+5.4%more sharesIncreased11.8% → 12.6%
The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight: what it bought or sold, excluding price effects.
Top holdings
- Kinross GoldKGC19.1%
- Vista Energy, S.A.B. de C.V.VIST14.4%
- ERO CopperERO12.6%
- TerniumTX9.8%
- Macro BankBMA9.4%
- CredicorpBAP9.2%
- Tencent Music Entertainment GroupTME8.5%
- Eldorado GoldEGO6.7%
- Copa HoldingsCPA5.1%
- Joint Stock Company Kaspi.kzKSPI3.3%
- Petrobras - Petroleo BrasileiroPBR/A1.8%
- Laureate EducationLAUR0.1%
“Since”: first quarter of the current run, unbroken until today. In the details, prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.
Portfolio by sector
- ● Materials 48%
- ● Financials 22%
- ● Energy 16%
- ● Communication Services 9%
- ● Industrials 5%
How its portfolio changed (8 quarters)
Q2 2026: 12
Q2 2026: 98%
Q2 2026: 9.7%
Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.
13F filings with amendments or confidential positions
- 13F Q1 2025 ↗filed May 7, 2025Amendment of May 8, 2025 (replaces the original) ↗
Stakes above 5% (13D/13G)
Companies where this filer reported holding 5% or more of the shares. It is the figure from its latest filing on each one; history since December 2024.
How we classify it
Investment firm, per its Form ADV of Jun 17, 2026 (medium confidence).
The data, as reported: CAPE ANN ASSET MANAGEMENT (CRD 284056): 7.B private funds: 3 other (gross assets $3.7 bn); 5.D assets by client type: pooled vehicles 97% (of $3.8 bn)
The type comes from a rule applied to that data. If it looks wrong, tell us.
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