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Fourth Sail Capital LP

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13F filer, CIK 1803158, GRAND CAYMAN, Cayman Islands

Fourth Sail Capital LP reported $427,305,753 across 28 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-09. Its ten largest share positions make up 61.42% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001085146-25-002895

Period
2025-03-31
Reported value
$427M
Holdings
28
Top 10 weight
61.42%
New
12
Sold out
5

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ARCOnew+3,318,350$26.7M
LILAKnew+2,533,603$15.7M
LOMAnew+1,340,806$14.7M
BAPadded+77,817$14.5M
STNEnew+1,301,556$13.6M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
BBARexited-849,804-$16.2M
VTEXexited-2,407,557-$14.2M
VALEreduced-1,266,333-$12.6M
PPTAexited-822,295-$8.77M
DCreduced-2,540,018-$6.73M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001085146-25-002895, largest first. % of portfolio is the value over $427,305,753, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
MAC Copper LtdMAC Copper LtdQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,397,610 shares; 2024Q4: 5,135,143 shares; 2025Q1: 5,185,005 shares 5,185,005$49.5M11.58%+49,862
CAAPCORPORACION AMER ARPTS S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,615,054 shares; 2024Q4: 1,454,082 shares; 2025Q1: 1,584,784 shares 1,584,784$29M6.79%+130,702Timeline
BAPCREDICORP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 138,356 shares; 2024Q4: 75,548 shares; 2025Q1: 153,365 shares 153,365$28.6M6.68%+77,817Timeline
DAVAENDAVA PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 931,151 shares; 2024Q4: 919,619 shares; 2025Q1: 1,406,223 shares 1,406,223$27.4M6.42%+486,604Timeline
ARCOARCOS DORADOS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 3,318,350 shares 3,318,350$26.7M6.26%newTimeline
VALEVALE S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 3,529,300 shares; 2025Q1: 2,262,967 shares 2,262,967$22.6M5.29%-1,266,333Timeline
GGALGRUPO FINANCIERO GALICIA S.AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 439,165 shares; 2025Q1: 414,167 shares 414,167$22.6M5.28%-24,998Timeline
BIOXBIOCERES CROP SOLUTIONS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,171,102 shares; 2024Q4: 3,698,961 shares; 2025Q1: 4,627,669 shares 4,627,669$21.1M4.94%+928,708Timeline
CPACOPA HOLDINGS SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 156,985 shares; 2024Q4: 207,790 shares; 2025Q1: 204,901 shares 204,901$18.9M4.43%-2,889Timeline
GDYNGRID DYNAMICS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 753,813 shares; 2024Q4: 672,661 shares; 2025Q1: 1,024,269 shares 1,024,269$16M3.75%+351,608Timeline
LILAKLIBERTY LATIN AMERICA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,533,603 shares 2,533,603$15.7M3.68%newTimeline
LOMALOMA NEGRA C I A S A MTN 14Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,340,806 shares 1,340,806$14.7M3.45%newTimeline
EZPWEZCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 221,724 shares; 2024Q4: 158,583 shares; 2025Q1: 957,262 shares 957,262$14.1M3.3%+798,679Timeline
STNESTONECO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 816,333 shares; 2024Q4: not reported; 2025Q1: 1,301,556 shares 1,301,556$13.6M3.19%newTimeline
XPXP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 558,900 shares; 2024Q4: not reported; 2025Q1: 969,296 shares 969,296$13.3M3.12%newTimeline
CDECOEUR MNG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,128,963 shares 2,128,963$12.6M2.95%newTimeline
BPOPPOPULAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 116,400 shares; 2024Q4: 116,400 shares; 2025Q1: 120,182 shares 120,182$11.1M2.6%+3,782Timeline
DLODLOCAL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,771,932 shares; 2024Q4: 1,187,598 shares; 2025Q1: 1,156,369 shares 1,156,369$9.64M2.26%-31,229Timeline
LILALIBERTY LATIN AMERICA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,418,237 shares 1,418,237$8.98M2.1%newTimeline
EPAMEPAM SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 53,000 shares 53,000$8.95M2.09%newTimeline
IFSINTERCORP FINL SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 257,874 shares 257,874$8.54M2%newTimeline
URGUR-ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 17,512,564 shares; 2024Q4: 11,856,794 shares; 2025Q1: 12,295,868 shares 12,295,868$8.29M1.94%+439,074Timeline
IRSIRSA INVERSIONES Y REP S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 563,664 shares 563,664$7.27M1.7%newTimeline
TIGOMILLICOM INTL CELLULAR S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 228,692 shares 228,692$6.92M1.62%newTimeline
TGSTRANSPORTADORA DE GAS DEL SUQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 184,703 shares 184,703$4.89M1.14%newTimeline
YPFYPF SOCIEDAD ANONIMAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 133,312 shares; 2025Q1: 133,312 shares 133,312$4.67M1.09%0Timeline
UROYURANIUM RTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 582,712 shares; 2024Q4: 582,712 shares; 2025Q1: 582,712 shares 582,712$1.03M0.24%0Timeline
DCDAKOTA GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,672,668 shares; 2024Q4: 2,709,983 shares; 2025Q1: 169,965 shares 169,965$450K0.11%-2,540,018Timeline

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
BBARBANCO BBVA ARGENTINA S A849,804$16.2Mshares
VTEXVTEX2,407,557$14.2Mshares
PPTAPERPETUA RESOURCES CORP822,295$8.77Mshares
DAKOTA GOLD CORPDAKOTA GOLD CORP2,709,983$5.69Mshares
EQXEQUINOX GOLD CORP144,705$726Kshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001085146-25-002895 base2025-05-09acceptance time not in the bulk data set