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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 $1,040,591,391 across 23 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-10-27. Its ten largest share positions make up 90.49% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0002033334-25-000007

Period
2025-09-30
Reported value
$1.04B
Holdings
23
Top 10 weight
90.49%
New
4
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
PAASadded+2,448,778$94.8M
IBNadded+2,922,613$88.4M
YMMadded+2,682,409$34.8M
JDadded+98,716$3.45M
AUGOnew+82,986$3.09M

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
BABAreduced-2,057,866-$368M
BIDUreduced-203,405-$26.8M
TIGOreduced-25,827-$1.25M
BAPreduced-4,256-$1.13M
TGSexited-37,000-$958K

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, Q3 2025

Share positions as resolved from 13F-HR 0002033334-25-000007, largest first. % of portfolio is the value over $1,040,591,391, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
JDJD.COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 4,072,931 shares 4,072,931$142M13.69%+98,716Timeline
YMMFULL TRUCK ALLIANCE CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 10,607,375 shares 10,607,375$138M13.22%+2,682,409Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 446,042 shares; 2024Q4: 516,404 shares; 2025Q1: 440,807 shares; 2025Q2: 445,597 shares; 2025Q3: 456,345 shares 456,345$127M12.25%+10,748Timeline
PAASPAN AMERN SILVER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 551,278 shares; 2025Q3: 3,000,056 shares 3,000,056$116M11.17%+2,448,778Timeline
IBNICICI BK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 200,596 shares; 2024Q4: 51,055 shares; 2025Q1: 51,055 shares; 2025Q2: 315,620 shares; 2025Q3: 3,238,233 shares 3,238,233$97.9M9.41%+2,922,613Timeline
KTKT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 4,283,287 shares 4,283,287$83.5M8.03%+103,174Timeline
VIPSVIPSHOP HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 3,355,999 shares 3,355,999$65.9M6.33%+131,784Timeline
ATHMAUTOHOME INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 2,284,939 shares 2,284,939$65.2M6.27%+78,978Timeline
BIDUBAIDU INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 517,298 shares; 2024Q4: 614,847 shares; 2025Q1: 557,237 shares; 2025Q2: 618,650 shares; 2025Q3: 415,245 shares 415,245$54.7M5.26%-203,405Timeline
LAURLAUREATE ED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,256,065 shares; 2025Q1: 1,256,065 shares; 2025Q2: 1,578,937 shares; 2025Q3: 1,605,311 shares 1,605,311$50.6M4.87%+26,374Timeline
YPFYPF SOCIEDAD ANONIMAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 1,619,983 shares 1,619,983$39.3M3.78%+69,634Timeline
VLRSCONTROLADORA VUELA COMP DE AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 5,081,733 shares 5,081,733$36.5M3.51%+117,323Timeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 35,003 shares 35,003$6.26M0.6%-2,057,866Timeline
AXIAYAXIA ENERGIA SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 219,652 shares; 2025Q2: 219,652 shares; 2025Q3: 439,682 shares 439,682$4.36M0.42%+220,030Timeline
PBRPETROLEO BRASILEIRO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 121,421 shares; 2024Q4: 198,360 shares; 2025Q1: 178,360 shares; 2025Q2: 113,724 shares; 2025Q3: 285,373 shares 285,373$3.61M0.35%+171,649Timeline
AUGOAURA MINERALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 82,986 shares 82,986$3.09M0.3%newTimeline
TIGOMILLICOM INTL CELLULAR S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 44,881 shares; 2025Q2: 52,881 shares; 2025Q3: 27,054 shares 27,054$1.31M0.13%-25,827Timeline
SKMSK TELECOM CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 42,917 shares; 2025Q1: 42,917 shares; 2025Q2: not reported; 2025Q3: 52,439 shares 52,439$1.13M0.11%newTimeline
BAPCREDICORP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 8,256 shares; 2025Q3: 4,000 shares 4,000$1.07M0.1%-4,256Timeline
UMCUNITED MICROELECTRONICS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 160,509 shares; 2024Q4: 160,509 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 125,000 shares 125,000$948K0.09%newTimeline
MUXMCEWEN INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 50,000 shares 50,000$855K0.08%newTimeline
TVGRUPO TELEVISA S A BQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100,000 shares; 2024Q4: 100,000 shares; 2025Q1: 100,000 shares; 2025Q2: 100,000 shares; 2025Q3: 100,000 shares 100,000$269K0.03%0Timeline
BBARBANCO BBVA ARGENTINA S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 30,000 shares; 2025Q2: 30,000 shares; 2025Q3: 30,000 shares 30,000$250K0.02%0Timeline

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
TGSTRANSPORTADORA DE GAS DEL SU37,000$958Kshares
EMBJEMBRAER S.A.2,400$137Kshares

How Q3 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 0002033334-25-000007 base2025-10-27acceptance time not in the bulk data set