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North of South Capital LLP

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13F filer, CIK 2033334, LONDON, United Kingdom

North of South Capital LLP reported $895,192,272 across 20 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-04-28. Its ten largest share positions make up 93.85% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0002033334-25-000002

Period
2025-03-31
Reported value
$895M
Holdings
20
Top 10 weight
93.85%
New
4
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
JDadded+414,366$17M
YMMadded+465,439$5.94M
YPFadded+150,366$5.27M
VIPSadded+195,346$3.06M
AXIAYnew+219,652$1.56M

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
SQMexited-597,057-$21.7M
EMBJreduced-441,920-$20.4M
BABAreduced-146,896-$19.4M
TSMreduced-75,597-$12.5M
KTreduced-386,132-$6.84M

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 0002033334-25-000002, largest first. % of portfolio is the value over $895,192,272, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,675,328 shares; 2024Q4: 1,975,760 shares; 2025Q1: 1,828,864 shares 1,828,864$242M27.01%-146,896Timeline
JDJD.COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,957,179 shares; 2024Q4: 2,899,808 shares; 2025Q1: 3,314,174 shares 3,314,174$136M15.22%+414,366Timeline
YMMFULL TRUCK ALLIANCE CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,256,359 shares; 2024Q4: 5,692,489 shares; 2025Q1: 6,157,928 shares 6,157,928$78.6M8.78%+465,439Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 446,042 shares; 2024Q4: 516,404 shares; 2025Q1: 440,807 shares 440,807$73.2M8.17%-75,597Timeline
KTKT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 168,214 shares; 2024Q4: 4,217,653 shares; 2025Q1: 3,831,521 shares 3,831,521$67.9M7.58%-386,132Timeline
VIPSVIPSHOP HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,011,899 shares; 2024Q4: 3,797,852 shares; 2025Q1: 3,993,198 shares 3,993,198$62.6M6.99%+195,346Timeline
ATHMAUTOHOME INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,690,376 shares; 2024Q4: 1,965,350 shares; 2025Q1: 1,954,958 shares 1,954,958$54.2M6.05%-10,392Timeline
BIDUBAIDU INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 517,298 shares; 2024Q4: 614,847 shares; 2025Q1: 557,237 shares 557,237$51.3M5.73%-57,610Timeline
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: 1,045,498 shares; 2024Q4: 1,236,984 shares; 2025Q1: 1,387,350 shares 1,387,350$48.6M5.43%+150,366Timeline
LAURLAUREATE ED 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: 1,256,065 shares; 2025Q1: 1,256,065 shares 1,256,065$25.7M2.87%0Timeline
VLRSCONTROLADORA VUELA COMP DE AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,372,644 shares; 2024Q4: 4,938,580 shares; 2025Q1: 4,911,106 shares 4,911,106$25.6M2.86%-27,474Timeline
EMBJEMBRAER S.A.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 974,030 shares; 2024Q4: 875,161 shares; 2025Q1: 433,241 shares 433,241$20M2.24%-441,920Timeline
PBRPETROLEO BRASILEIRO 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: 121,421 shares; 2024Q4: 198,360 shares; 2025Q1: 178,360 shares 178,360$2.56M0.29%-20,000Timeline
IBNICICI BK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 200,596 shares; 2024Q4: 51,055 shares; 2025Q1: 51,055 shares 51,055$1.61M0.18%0Timeline
AXIAYAXIA ENERGIA SAQuarterly 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: 219,652 shares 219,652$1.56M0.17%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: 44,881 shares 44,881$1.36M0.15%newTimeline
SKMSK TELECOM CO 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: 42,917 shares; 2025Q1: 42,917 shares 42,917$912K0.1%0Timeline
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: 25,000 shares 25,000$662K0.07%newTimeline
BBARBANCO BBVA ARGENTINA 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: 30,000 shares 30,000$544K0.06%newTimeline
TVGRUPO TELEVISA S A BQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100,000 shares; 2024Q4: 100,000 shares; 2025Q1: 100,000 shares 100,000$175K0.02%0Timeline

Sold out in Q1 2025

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

SecurityShares beforeValue beforeType
SQMSOCIEDAD QUIMICA Y MINERA DE597,057$21.7Mshares
UMCUNITED MICROELECTRONICS CORP160,509$1.04Mshares

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 0002033334-25-000002 base2025-04-28acceptance time not in the bulk data set