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North of South Capital LLP

16 KINNERTON PLACE SOUTH, LONDON, X0 SW1X 8EH • 44 207 152 6061

Q2 2025 · Filed 2025-08-08
Market Value
$951M
+6.2%
Holdings
22
New Purchases
2
Added To
13
Closed
1
Reduced
3
Top 10 Concentration
93.8%
Turnover
13.6%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
TSM 10.61% 8.17% +2.44% $101M
PAAS 1.65% 0.00% +1.65% $16M
KT 9.13% 7.58% +1.55% $87M
YMM 9.84% 8.78% +1.06% $94M
LAUR 3.88% 2.87% +1.01% $37M
IBN 1.12% 0.18% +0.94% $11M
BAP 0.19% 0.00% +0.19% $2M
TIGO 0.21% 0.15% +0.06% $2M
TGS 0.10% 0.07% +0.03% $958K
TV 0.02% 0.02% +0.00% $219K

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ERJ 0.01% 2.24% -2.22% $137K
BABA 24.95% 27.01% -2.06% $237M
VIPS 5.10% 6.99% -1.89% $49M
JD 13.64% 15.22% -1.59% $130M
VLRS 2.48% 2.86% -0.38% $24M
YPF 5.13% 5.43% -0.30% $49M
BIDU 5.58% 5.73% -0.15% $53M
PBR 0.15% 0.29% -0.14% $1M
SKM 0.00% 0.10% -0.10% $0
ATHM 5.98% 6.05% -0.07% $57M
BBAR 0.05% 0.06% -0.01% $494K
AXIA 0.17% 0.17% -0.00% $2M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 24.8%
Financial Services 20.8%
Energy 17.4%
Communication Services 13.5%
Consumer Cyclical 12.1%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 2 $338M 35.6%
Large Cap 11 $265M 27.8%
Mid Cap 6 $267M 28.1%
Small Cap 3 $81M 8.5%

Portfolio Analytics

Avg Market Cap
$132.6B
Median Market Cap
$16.7B
Avg P/E
17.9
Median P/E
15.1
Avg Dividend Yield
0.03%
Avg Beta
0.52
# Stocks
22
# ETFs / Funds
0

Top Holdings (22 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 BABA 24.95% 2,092,869 $237M $113.41 -$4M +264,005 +14.4%
2 JD 13.64% 3,974,215 $130M $32.64 -$7M +660,041 +19.9%
3 TSM 10.61% 445,597 $101M $226.49 $28M +4,790 +1.1%
4 YMM 9.84% 7,924,966 $94M $11.81 $15M +1,767,038 +28.7%
5 KT 9.13% 4,180,113 $87M $20.78 $19M +348,592 +9.1%
6 ATHM 5.98% 2,205,961 $57M $25.79 $3M +251,003 +12.8%
7 BIDU 5.58% 618,650 $53M $85.76 $2M +61,413 +11.0%
8 YPF 5.13% 1,550,349 $49M $31.45 $146K +162,999 +11.8%
9 VIPS 5.10% 3,224,215 $49M $15.05 -$14M -768,983 -19.3%
10 LAUR 3.88% 1,578,937 $37M $23.38 $11M +322,872 +25.7%
11 VLRS 2.48% 4,964,410 $24M $4.75 -$2M +53,304 +1.1%
12 PAAS 1.65% 551,278 $16M $28.40 +551,278 NEW
13 IBN 1.12% 315,620 $11M $33.64 $9M +264,565 +518.2%
14 TIGO 0.21% 52,881 $2M $37.47 $623K +8,000 +17.8%
15 BAP 0.19% 8,256 $2M $223.52 +8,256 NEW
16 AXIA 0.17% 219,652 $2M $7.43 $72K
17 PBR 0.15% 113,724 $1M $12.51 -$1M -64,636 -36.2%
18 TGS 0.10% 37,000 $958K $25.90 $297K +12,000 +48.0%
19 BBAR 0.05% 30,000 $494K $16.46 -$50K
20 TV 0.02% 100,000 $219K $2.19 $44K
21 ERJ 0.01% 2,400 $137K $56.91 -$20M -430,841 -99.5%
22 SKM —% -$912K -42,917 -100.0% SOLD

New Positions

SymbolValue% Port
PAAS $16M 1.65%
BAP $2M 0.19%

Sold Out Positions

SymbolValue% Port
SKM —%
View SEC EDGAR Filings for North of South Capital LLP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms