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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 $1,112,834,151 across 27 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-12. Its ten largest share positions make up 90.95% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0002033334-26-000001

Period
2025-12-31
Reported value
$1.11B
Holdings
27
Top 10 weight
90.95%
New
5
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
IBNadded+4,150,207$124M
JDadded+180,081$5.17M
KTadded+246,124$4.67M
YMMadded+240,446$2.58M
HMYnew+95,204$1.89M

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
PAASreduced-852,494-$44.2M
VIPSreduced-1,093,316-$19.3M
VLRSreduced-1,085,436-$9.64M
AXIAYreduced-354,705-$3.25M
AUGOreduced-55,188-$2.78M

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 0002033334-26-000001, largest first. % of portfolio is the value over $1,112,834,149, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
IBNICICI BK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 7,388,440 shares 7,388,440$220M19.79%+4,150,207Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 446,042 shares; 2024Q4: 516,404 shares; 2025Q1: 440,807 shares; 2025Q2: 445,597 shares; 2025Q3: 456,345 shares; 2025Q4: 453,780 shares 453,780$138M12.39%-2,565Timeline
JDJD.COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 4,253,012 shares 4,253,012$122M10.97%+180,081Timeline
YMMFULL TRUCK ALLIANCE CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 10,847,821 shares 10,847,821$116M10.46%+240,446Timeline
PAASPAN AMERN 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: 551,278 shares; 2025Q3: 3,000,056 shares; 2025Q4: 2,147,562 shares 2,147,562$111M10%-852,494Timeline
KTKT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 4,529,411 shares 4,529,411$85.9M7.72%+246,124Timeline
YPFYPF SOCIEDAD ANONIMAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,670,378 shares 1,670,378$60.4M5.43%+50,395Timeline
BIDUBAIDU INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 517,298 shares; 2024Q4: 614,847 shares; 2025Q1: 557,237 shares; 2025Q2: 618,650 shares; 2025Q3: 415,245 shares; 2025Q4: 426,013 shares 426,013$55.7M5%+10,768Timeline
LAURLAUREATE ED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,537,384 shares 1,537,384$51.8M4.65%-67,927Timeline
ATHMAUTOHOME INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 2,272,864 shares 2,272,864$50.6M4.55%-12,075Timeline
VIPSVIPSHOP HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 2,262,683 shares 2,262,683$40M3.6%-1,093,316Timeline
VLRSCONTROLADORA VUELA COMP DE AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 3,996,297 shares 3,996,297$35.5M3.19%-1,085,436Timeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 39,398 shares 39,398$5.77M0.52%+4,395Timeline
PBRPETROLEO BRASILEIRO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 121,421 shares; 2024Q4: 198,360 shares; 2025Q1: 178,360 shares; 2025Q2: 113,724 shares; 2025Q3: 285,373 shares; 2025Q4: 265,853 shares 265,853$3.15M0.28%-19,520Timeline
BAPCREDICORP 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: 8,256 shares; 2025Q3: 4,000 shares; 2025Q4: 10,519 shares 10,519$3.02M0.27%+6,519Timeline
HMYHARMONY GOLD MNG 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: 95,204 shares 95,204$1.89M0.17%newTimeline
UMCUNITED MICROELECTRONICS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 160,509 shares; 2024Q4: 160,509 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 125,000 shares; 2025Q4: 202,000 shares 202,000$1.59M0.14%+77,000Timeline
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: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 120,000 shares 120,000$1.55M0.14%newTimeline
TIGOMILLICOM INTL CELLULAR 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: 44,881 shares; 2025Q2: 52,881 shares; 2025Q3: 27,054 shares; 2025Q4: 27,054 shares 27,054$1.5M0.13%0Timeline
KSPIKASPI KZ JSCQuarterly 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: 18,237 shares 18,237$1.42M0.13%newTimeline
AUGOAURA MINERALS 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: 82,986 shares; 2025Q4: 27,798 shares 27,798$1.4M0.13%-55,188Timeline
MUXMCEWEN INC.Quarterly 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: 50,000 shares; 2025Q4: 50,000 shares 50,000$926K0.08%0Timeline
LTMLATAM AIRLINES GROUP 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: not reported; 2025Q4: 16,743 shares 16,743$904K0.08%newTimeline
AXIAYAXIA ENERGIA SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 219,652 shares; 2025Q2: 219,652 shares; 2025Q3: 439,682 shares; 2025Q4: 84,977 shares 84,977$778K0.07%-354,705Timeline
BBARBANCO BBVA ARGENTINA 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: 30,000 shares; 2025Q2: 30,000 shares; 2025Q3: 30,000 shares; 2025Q4: 30,000 shares 30,000$542K0.05%0Timeline
AXICYAXIA ENERGIA 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: not reported; 2025Q4: 72,335 shares 72,335$429K0.04%newTimeline
TVGRUPO TELEVISA S A BQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100,000 shares; 2024Q4: 100,000 shares; 2025Q1: 100,000 shares; 2025Q2: 100,000 shares; 2025Q3: 100,000 shares; 2025Q4: 100,000 shares 100,000$291K0.03%0Timeline

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
SKMSK TELECOM CO LTD52,439$1.13Mshares

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 0002033334-26-000001 base2026-02-12acceptance time not in the bulk data set