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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 $623,368,317 across 30 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-13. Its ten largest share positions make up 55.01% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001803158-26-000004

Period
2025-12-31
Reported value
$623M
Holdings
30
Top 10 weight
55.01%
New
9
Sold out
7

Largest buys vs the previous quarter

SecurityShares changeApprox. value
NATLnew+881,568$33.6M
BAPadded+97,500$28M
AEROnew+1,100,000$24.2M
ACNadded+87,400$23.4M
TGLSnew+346,991$17.5M

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
URGexited-9,965,357-$17.8M
TBBBexited-625,532-$16.9M
CEPUreduced-877,988-$15.4M
TEOreduced-1,178,820-$13.7M
VISTexited-396,200-$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.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001803158-26-000004, largest first. % of portfolio is the value over $623,368,317, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
BBARBANCO BBVA ARGENTINA S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,361,386 shares; 2024Q4: 849,804 shares; 2025Q1: not reported; 2025Q2: 1,786,085 shares; 2025Q3: 2,669,262 shares; 2025Q4: 2,847,061 shares 2,847,061$51.4M8.25%+177,799Timeline
ACNACCENTURE PLC IRELANDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 55,200 shares; 2025Q4: 142,600 shares 142,600$38.3M6.14%+87,400Timeline
BAPCREDICORP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 138,356 shares; 2024Q4: 75,548 shares; 2025Q1: 153,365 shares; 2025Q2: 75,065 shares; 2025Q3: 23,488 shares; 2025Q4: 120,988 shares 120,988$34.7M5.57%+97,500Timeline
GDYNGRID DYNAMICS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 753,813 shares; 2024Q4: 672,661 shares; 2025Q1: 1,024,269 shares; 2025Q2: 1,623,562 shares; 2025Q3: 2,811,405 shares; 2025Q4: 3,827,968 shares 3,827,968$34.6M5.55%+1,016,563Timeline
HRLHORMEL FOODS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 705,000 shares; 2025Q4: 1,441,662 shares 1,441,662$34.2M5.48%+736,662Timeline
VZLAVIZSLA SILVER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 4,331,900 shares; 2025Q3: 4,331,900 shares; 2025Q4: 6,166,612 shares 6,166,612$33.7M5.41%+1,834,712Timeline
NATLNCR ATLEOS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 881,568 shares 881,568$33.6M5.39%newTimeline
LOMALOMA NEGRA C I A S A MTN 14Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,340,806 shares; 2025Q2: 1,456,770 shares; 2025Q3: 2,371,924 shares; 2025Q4: 2,404,072 shares 2,404,072$31.1M4.99%+32,148Timeline
DLODLOCAL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,771,932 shares; 2024Q4: 1,187,598 shares; 2025Q1: 1,156,369 shares; 2025Q2: 1,546,639 shares; 2025Q3: 1,178,000 shares; 2025Q4: 1,823,873 shares 1,823,873$25.8M4.14%+645,873Timeline
SFDSMITHFIELD FOODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 782,981 shares; 2025Q3: 981,581 shares; 2025Q4: 1,140,619 shares 1,140,619$25.5M4.09%+159,038Timeline
AEROGRUPO AEROMEXICO SAB DE CVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,100,000 shares 1,100,000$24.2M3.88%newTimeline
WUWESTERN UN COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,948,600 shares; 2025Q4: 2,589,752 shares 2,589,752$24.1M3.87%+641,152Timeline
LILAKLIBERTY LATIN AMERICA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,533,603 shares; 2025Q2: 3,835,640 shares; 2025Q3: 2,362,507 shares; 2025Q4: 2,895,728 shares 2,895,728$21.6M3.47%+533,221Timeline
CEPUCENTRAL PUERTO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 148,601 shares; 2025Q3: 2,069,477 shares; 2025Q4: 1,191,489 shares 1,191,489$20.9M3.34%-877,988Timeline
GPRKGEOPARK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 2,708,539 shares; 2025Q4: 2,396,408 shares 2,396,408$17.8M2.85%-312,131Timeline
STNESTONECO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 816,333 shares; 2024Q4: not reported; 2025Q1: 1,301,556 shares; 2025Q2: not reported; 2025Q3: 686,400 shares; 2025Q4: 1,190,557 shares 1,190,557$17.6M2.82%+504,157Timeline
TGLSTECNOGLASS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 346,991 shares 346,991$17.5M2.8%newTimeline
FCFSFIRSTCASH HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 109,416 shares 109,416$17.4M2.8%newTimeline
SLVMSYLVAMO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 162,600 shares; 2025Q3: 550,932 shares; 2025Q4: 350,632 shares 350,632$16.9M2.71%-200,300Timeline
EZPWEZCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 221,724 shares; 2024Q4: 158,583 shares; 2025Q1: 957,262 shares; 2025Q2: 1,251,362 shares; 2025Q3: 1,177,997 shares; 2025Q4: 868,717 shares 868,717$16.9M2.71%-309,280Timeline
GGALGRUPO FINANCIERO GALICIA S.AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 439,165 shares; 2025Q1: 414,167 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 308,728 shares 308,728$16.7M2.67%newTimeline
CPACOPA HOLDINGS SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 156,985 shares; 2024Q4: 207,790 shares; 2025Q1: 204,901 shares; 2025Q2: 184,966 shares; 2025Q3: not reported; 2025Q4: 130,200 shares 130,200$15.7M2.52%newTimeline
CVGWCALAVO GROWERS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 699,117 shares 699,117$15.2M2.44%newTimeline
TECKTECK RESOURCES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 148,500 shares 148,500$7.11M1.14%newTimeline
VLRSCONTROLADORA VUELA COMP DE AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 754,484 shares; 2025Q4: 757,761 shares 757,761$6.73M1.08%+3,277Timeline
LILALIBERTY LATIN AMERICA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,418,237 shares; 2025Q2: 1,418,237 shares; 2025Q3: 748,761 shares; 2025Q4: 909,742 shares 909,742$6.72M1.08%+160,981Timeline
TGSTRANSPORTADORA DE GAS DEL SUQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 184,703 shares; 2025Q2: 253,168 shares; 2025Q3: 614,891 shares; 2025Q4: 191,630 shares 191,630$5.96M0.96%-423,261Timeline
BIOXBIOCERES CROP SOLUTIONS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,171,102 shares; 2024Q4: 3,698,961 shares; 2025Q1: 4,627,669 shares; 2025Q2: 4,627,669 shares; 2025Q3: 4,627,669 shares; 2025Q4: 4,331,096 shares 4,331,096$5.67M0.91%-296,573Timeline
TEOTELECOM ARGENTINA SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,632,222 shares; 2025Q4: 453,402 shares 453,402$5.26M0.84%-1,178,820Timeline
AVOMISSION PRODUCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 62,525 shares 62,525$725K0.12%newTimeline

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
URGUR-ENERGY INC9,965,357$17.8Mshares
TBBBBBB FOODS INC625,532$16.9Mshares
VISTVISTA ENERGY S.A.B. DE C.V.396,200$13.6Mshares
PPTAPERPETUA RESOURCES CORP630,608$12.8Mshares
IFSINTERCORP FINL SVCS INC230,003$9.28Mshares
MAC Copper LtdMAC Copper Ltd646,565$7.89Mshares
PAASPAN AMERN SILVER CORP17,901,528$6.26Mshares

How Q4 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 0001803158-26-000004 base2026-02-13acceptance time not in the bulk data set