13F HOLDINGS REPORT
North of South Capital LLP
Quarter ended Q4 2025 · Filed February 12, 2026 · Accession 0002033334-26-000001
Total Value
$1.11B
Positions
27
Other Managers
0
Confidential Omitted
No
Holdings (27)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | ICICI BANK-ADR | IBN | 7,388,440 | $220.2M | 19.79% |
| 2 | TAIWAN SEMIC-ADR | 874039100 | 453,780 | $137.9M | 12.39% |
| 3 | JD.COM INC-ADR | JDCMF | 4,253,012 | $122.1M | 10.97% |
| 4 | FULL TRUCK A-ADR | YMM | 10,847,821 | $116.4M | 10.46% |
| 5 | PAN AMER SILVER | 697900108 | 2,147,562 | $111.3M | 10.00% |
| 6 | KT CORP-ADR | KT | 4,529,411 | $85.9M | 7.72% |
| 7 | YPF SA-ADR | YPF | 1,670,378 | $60.4M | 5.43% |
| 8 | BAIDU INC-SP ADR | BAIDF | 426,013 | $55.7M | 5.00% |
| 9 | LAUREATE EDUCATI | LAUR | 1,537,384 | $51.8M | 4.65% |
| 10 | AUTOHOME INC-ADR | ATHM | 2,272,864 | $50.6M | 4.55% |
| 11 | VIPSHOP HOLD-ADR | VIPS | 2,262,683 | $40.0M | 3.60% |
| 12 | CONTROLADORA-ADR | 21240E105 | 3,996,297 | $35.5M | 3.19% |
| 13 | ALIBABA GRP-ADR | BBAAY | 39,398 | $5.8M | 0.52% |
| 14 | PETROBRAS SA-ADR | 71654V408 | 265,853 | $3.2M | 0.28% |
| 15 | CREDICORP LTD | BAP | 10,519 | $3.0M | 0.27% |
| 16 | HARMONY GOLD-ADR | HGMCF | 95,204 | $1.9M | 0.17% |
| 17 | UNITED MICRO-ADR | UMC | 202,000 | $1.6M | 0.14% |
| 18 | LOMA NEGRA C-ADR | 54150E104 | 120,000 | $1.6M | 0.14% |
| 19 | MILLICOM INTL | L6388F110 | 27,054 | $1.5M | 0.13% |
| 20 | JSC KASPI.KZ | 48581R205 | 18,237 | $1.4M | 0.13% |
| 21 | AURA MINERALS | AUGO | 27,798 | $1.4M | 0.13% |
| 22 | MCEWEN INC | MUX | 50,000 | $925,500 | 0.08% |
| 23 | LATAM AIRLINES G | LTM | 16,743 | $904,289 | 0.08% |
| 24 | AXIA ENERGIA-ADR | 15234Q207 | 84,977 | $778,389 | 0.07% |
| 25 | BBVA ARGENT-ADR | BBAR | 30,000 | $542,100 | 0.05% |
| 26 | AXIA ENERGIA-ADR | 15236F100 | 72,335 | $429,383 | 0.04% |
| 27 | GRUPO TELEV-ADR | GRPFF | 100,000 | $291,000 | 0.03% |