Cederberg Capital
LONDON, X0files as Cederberg Capital Ltd
$100m in 10 US stocks at the end of 30 June 2026. The top 10 are 100.0% of the money. It changed about 32.9% of the portfolio this quarter.
Value
$100m
Stocks
10
Top 10 share
100.0%
Turnover
32.9%
What changed this quarter
New
Bought for the first time this quarter.
- Vista Energy S.A.B. de C.V.VIST1.6% of the fund
Added
Bought more of a stock they already held.
- China Yuchai InternationalCYD16.3% of the fund+7%
Cut
Sold some of their stake.
- ACM ResearchACMR32.2% of the fund-57%
- Netease.comNTES23.7% of the fund-48%
- Silvercorp MetalsSVM11.4% of the fund-49%
- Atour Lifestyle HldgsATAT9.4% of the fund-67%
- PDD HoldingsPDD2.9% of the fund-90%
- Nu HoldingsNU1.3% of the fund-63%
- AngloGold AshantiAU1.1% of the fund-34%
- SeaSE0.2% of the fund-83%
Sold out
Sold their entire stake.
- New Oriental Education & Technology GroupEDU-100%
- Petroleo Brasileiro S APBR-A-100%
Holdings
- Netease.comNTES
- Share
- 23.7%
- Value
- $24m
- Shares
- 185,375
-48%
- Silvercorp MetalsSVM
- Share
- 11.4%
- Value
- $11m
- Shares
- 1,130,121
-49%
- Atour Lifestyle HldgsATAT
- Share
- 9.4%
- Value
- $9m
- Shares
- 296,300
-67%
- PDD HoldingsPDD
- Share
- 2.9%
- Value
- $3m
- Shares
- 37,600
-90%
- Vista Energy S.A.B. de C.V.VIST
- Share
- 1.6%
- Value
- $2m
- Shares
- 25,200
New
- SeaSE
- Share
- 0.2%
- Value
- $240,000
- Shares
- 2,500
-83%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| ACM ResearchACMR | 32.2% | $32m | 254,669 | -57% |
| Netease.comNTES | 23.7% | $24m | 185,375 | -48% |
| China Yuchai InternationalCYD | 16.3% | $16m | 344,928 | +7% |
| Silvercorp MetalsSVM | 11.4% | $11m | 1,130,121 | -49% |
| Atour Lifestyle HldgsATAT | 9.4% | $9m | 296,300 | -67% |
| PDD HoldingsPDD | 2.9% | $3m | 37,600 | -90% |
| Vista Energy S.A.B. de C.V.VIST | 1.6% | $2m | 25,200 | New |
| Nu HoldingsNU | 1.3% | $1m | 98,600 | -63% |
| AngloGold AshantiAU | 1.1% | $1m | 13,200 | -34% |
| SeaSE | 0.2% | $240,000 | 2,500 | -83% |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 63.1% since 30 June 2025.
Where the money is
Industrials48.5%
Materials12.4%
Financial services1.3%
Other37.8%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.