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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 $951,140,046 across 21 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-08. Its ten largest share positions make up 93.84% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0002033334-25-000003

Period
2025-06-30
Reported value
$951M
Holdings
21
Top 10 weight
93.84%
New
2
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BABAadded+264,005$29.9M
JDadded+660,041$21.5M
YMMadded+1,767,038$20.9M
PAASnew+551,278$15.7M
IBNadded+264,565$8.9M

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
EMBJreduced-430,841-$24.5M
VIPSreduced-768,983-$11.6M
SKMexited-42,917-$912K
PBRreduced-64,636-$809K

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, Q2 2025

Share positions as resolved from 13F-HR 0002033334-25-000003, largest first. % of portfolio is the value over $951,140,046, 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; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,675,328 shares; 2024Q4: 1,975,760 shares; 2025Q1: 1,828,864 shares; 2025Q2: 2,092,869 shares 2,092,869$237M24.95%+264,005Timeline
JDJD.COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,957,179 shares; 2024Q4: 2,899,808 shares; 2025Q1: 3,314,174 shares; 2025Q2: 3,974,215 shares 3,974,215$130M13.64%+660,041Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 446,042 shares; 2024Q4: 516,404 shares; 2025Q1: 440,807 shares; 2025Q2: 445,597 shares 445,597$101M10.61%+4,790Timeline
YMMFULL TRUCK ALLIANCE CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,256,359 shares; 2024Q4: 5,692,489 shares; 2025Q1: 6,157,928 shares; 2025Q2: 7,924,966 shares 7,924,966$93.6M9.84%+1,767,038Timeline
KTKT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 168,214 shares; 2024Q4: 4,217,653 shares; 2025Q1: 3,831,521 shares; 2025Q2: 4,180,113 shares 4,180,113$86.9M9.13%+348,592Timeline
ATHMAUTOHOME INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,690,376 shares; 2024Q4: 1,965,350 shares; 2025Q1: 1,954,958 shares; 2025Q2: 2,205,961 shares 2,205,961$56.9M5.98%+251,003Timeline
BIDUBAIDU INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 517,298 shares; 2024Q4: 614,847 shares; 2025Q1: 557,237 shares; 2025Q2: 618,650 shares 618,650$53.1M5.58%+61,413Timeline
YPFYPF SOCIEDAD ANONIMAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,045,498 shares; 2024Q4: 1,236,984 shares; 2025Q1: 1,387,350 shares; 2025Q2: 1,550,349 shares 1,550,349$48.8M5.13%+162,999Timeline
VIPSVIPSHOP HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,011,899 shares; 2024Q4: 3,797,852 shares; 2025Q1: 3,993,198 shares; 2025Q2: 3,224,215 shares 3,224,215$48.5M5.1%-768,983Timeline
LAURLAUREATE ED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,256,065 shares; 2025Q1: 1,256,065 shares; 2025Q2: 1,578,937 shares 1,578,937$36.9M3.88%+322,872Timeline
VLRSCONTROLADORA VUELA COMP DE AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,372,644 shares; 2024Q4: 4,938,580 shares; 2025Q1: 4,911,106 shares; 2025Q2: 4,964,410 shares 4,964,410$23.6M2.48%+53,304Timeline
PAASPAN AMERN SILVER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 551,278 shares 551,278$15.7M1.65%newTimeline
IBNICICI BK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 200,596 shares; 2024Q4: 51,055 shares; 2025Q1: 51,055 shares; 2025Q2: 315,620 shares 315,620$10.6M1.12%+264,565Timeline
TIGOMILLICOM INTL CELLULAR S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 44,881 shares; 2025Q2: 52,881 shares 52,881$1.98M0.21%+8,000Timeline
BAPCREDICORP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 8,256 shares 8,256$1.85M0.19%newTimeline
AXIAYAXIA ENERGIA SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 219,652 shares; 2025Q2: 219,652 shares 219,652$1.63M0.17%0Timeline
PBRPETROLEO BRASILEIRO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 121,421 shares; 2024Q4: 198,360 shares; 2025Q1: 178,360 shares; 2025Q2: 113,724 shares 113,724$1.42M0.15%-64,636Timeline
TGSTRANSPORTADORA DE GAS DEL SUQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 25,000 shares; 2025Q2: 37,000 shares 37,000$958K0.1%+12,000Timeline
BBARBANCO BBVA ARGENTINA S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 30,000 shares; 2025Q2: 30,000 shares 30,000$494K0.05%0Timeline
TVGRUPO TELEVISA S A BQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100,000 shares; 2024Q4: 100,000 shares; 2025Q1: 100,000 shares; 2025Q2: 100,000 shares 100,000$219K0.02%0Timeline
EMBJEMBRAER S.A.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 974,030 shares; 2024Q4: 875,161 shares; 2025Q1: 433,241 shares; 2025Q2: 2,400 shares 2,400$137K0.01%-430,841Timeline

Sold out in Q2 2025

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

SecurityShares beforeValue beforeType
SKMSK TELECOM CO LTD42,917$912Kshares

How Q2 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 0002033334-25-000003 base2025-08-08acceptance time not in the bulk data set