Azvalor Managers FI Increases Stakes in Tencent Holdings and Pop Mart International Group, Exits Barrick Mining Corp and Enerflex Ltd

Azvalor Managers FI has added Barrick Mining Corp to its portfolio with 129,635 shares, accounting for 3.38% of the portfolio and a total value of $2.699 million. The fund has also increased stakes in Tencent Holdings Ltd and Pop Mart International Group Ltd, and completely exited 32 holdings, including Barrick Mining Corp and Enerflex Ltd.

Azvalor Managers FI (Trades, Portfolio), a tax-transferable UCITS fund, has made significant adjustments to its portfolio in the second quarter of 2025. The fund, which invests at least 75% of its assets in equities, has added 43 new stocks and increased stakes in several others. Notably, Barrick Mining Corp (NYSE:B) was added to the portfolio with 129,635 shares, representing 3.38% of the portfolio and valued at $2.699 million. Additionally, stakes in Tencent Holdings Ltd (HKSE:00700) and Pop Mart International Group Ltd (HKSE:09992) were increased, while the fund completely exited 32 holdings, including Barrick Mining Corp and Enerflex Ltd (TSX:EFX).

The fund's portfolio now includes 227 stocks, with the top holdings being Barrick Mining Corp at 3.38%, Tencent Holdings Ltd at 2.21%, and M/I Homes Inc (NYSE:MHO) at 1.79%. The portfolio is concentrated in 10 out of 11 industries, with Basic Materials, Energy, Consumer Cyclical, and Industrials being the most significant sectors.

These strategic adjustments reflect Azvalor Managers FI's commitment to identifying global investment opportunities and adapting to market conditions. The fund's approach of delegating investments to specialist managers allows it to uncover the best investment opportunities worldwide. However, the fund's decision to sell all shares of Barrick Mining Corp and Enerflex Ltd indicates a shift in its investment strategy, potentially due to changes in market conditions or the companies' performance.

In conclusion, Azvalor Managers FI's portfolio adjustments in Q2 2025 demonstrate the fund's commitment to strategic investing and its ability to adapt to market changes. The fund's focus on global opportunities and its use of specialist managers position it well to navigate the complexities of the global investment landscape.

References:
[1] https://finance.yahoo.com/news/azvalor-managers-fi-makes-significant-160645289.html
[2] https://chinalastnight.com/2025/08/13/tencent-beats-on-top-bottom-line-despite-ai-investments/