North of South Capital LLP — 13F Holdings & Portfolio
CIK 2033334 · latest 13F-HR filed 2026-07-30
North of South Capital LLP manages $1.36B in 13F-reported U.S. long-equity assets across 28 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are IBN (18.57%), YPF (13.47%), JD (12.49%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 3 new positions, exited 4, added to 12, and trimmed 11.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
LONDON, X0 SW1X 8EH
$1.36B
Long-equity book
28
Distinct positions
2026-06-30
Filed 2026-07-30
+3 / −4 / ↑12 / ↓11
vs 2026-03-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- JSC KASPI.KZ$43.4M +102.7%
- JD.COM INC-ADR$39.3M +30.1%
- ICICI BANK-ADR$33.7M +15.4%
- BAIDU INC-SP ADR$22.7M +27.5%
- TAIWAN SEMIC-ADR$20.4M +14.8%
Top Trims
- PAN AMER SILVER-$36.1M -57.4%
- LAUREATE EDUCATI-$10.6M -20.0%
- PETROBRAS SA-ADR-$2.6M -54.9%
- UNITED MICRO-ADR-$2.3M -62.1%
- ALIBABA GRP-ADR-$2.1M -47.3%
Exited Positions
- LATAM AIRLINES G$2.0M
- AMERICA MOVIL SA$1.1M
- TENARIS-ADR$1.1M
- AURA MINERALS$596.0K
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | ICICI BANK-ADR | IBN | 45104G104 | $252.3M | 18.57% | 8,690,448 | SH |
| 2 | YPF SA-ADR | YPF | 984245100 | $183.0M | 13.47% | 4,023,562 | SH |
| 3 | JD.COM INC-ADR | JD | 47215P106 | $169.7M | 12.49% | 6,661,845 | SH |
| 4 | TAIWAN SEMIC-ADR | TSM | 874039100 | $158.1M | 11.63% | 330,957 | SH |
| 5 | FULL TRUCK A-ADR | YMM | 35969L108 | $105.0M | 7.73% | 12,936,046 | SH |
| 6 | BAIDU INC-SP ADR | BIDU | 056752108 | $105.0M | 7.73% | 918,941 | SH |
| 7 | JSC KASPI.KZ | KSPI | 48581R205 | $85.5M | 6.30% | 987,390 | SH |
| 8 | AUTOHOME INC-ADR | ATHM | 05278C107 | $65.2M | 4.80% | 3,428,188 | SH |
| 9 | YUM CHINA HO | YUMC | 98850P109 | $62.8M | 4.62% | 1,536,481 | SH |
| 10 | LAUREATE EDUCATI | LAUR | 518613203 | $42.6M | 3.13% | 1,171,708 | SH |
| 11 | HDFC BANK-ADR | HDB | 40415F101 | $41.2M | 3.03% | 1,593,267 | SH |
| 12 | PAN AMER SILVER | PAAS | 697900108 | $26.8M | 1.97% | 598,713 | SH |
| 13 | TRANSPORT GA-ADR | TGS | 893870204 | $25.7M | 1.89% | 863,044 | SH |
| 14 | ISHARES MSCI IND | INDA | 46429B598 | $10.9M | 0.80% | 220,987 | SH |
| 15 | KT CORP-ADR | KT | 48268K101 | $4.0M | 0.30% | 232,718 | SH |
| 16 | VISTA ENERGY SAB | VIST | 92837L109 | $2.6M | 0.19% | 41,443 | SH |
| 17 | JOYY INC-ADR | JOYY | 46591M109 | $2.6M | 0.19% | 39,681 | SH |
| 18 | ALIBABA GRP-ADR | BABA | 01609W102 | $2.4M | 0.18% | 24,816 | SH |
| 19 | HARMONY GOLD-ADR | HMY | 413216300 | $2.1M | 0.16% | 140,946 | SH |
| 20 | PETROBRAS SA-ADR | PBR | 71654V408 | $2.1M | 0.16% | 131,715 | SH |
| 21 | AXIA ENERGIA-ADR | AXIAPC | 15234Q207 | $1.9M | 0.14% | 177,337 | SH |
| 22 | CREDICORP LTD | BAP | G2519Y108 | $1.7M | 0.13% | 4,453 | SH |
| 23 | UNITED MICRO-ADR | UMC | 910873405 | $1.4M | 0.10% | 50,700 | SH |
| 24 | LOMA NEGRA C-ADR | LOMA | 54150E104 | $1.2M | 0.09% | 108,237 | SH |
| 25 | TELEKOMUNIKA-ADR | TLK | 715684106 | $943.6K | 0.07% | 70,259 | SH |
| 26 | MCEWEN INC | MUX | 58039P305 | $906.5K | 0.07% | 50,000 | SH |
| 27 | BBVA ARGENT-ADR | BBAR | 058934100 | $588.3K | 0.04% | 30,000 | SH |
| 28 | GRUPO TELEV-ADR | TV | 40049J206 | $271.0K | 0.02% | 100,000 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-07-30 | $1.36B | 28 | 0002033334-26-000003 |
| 2026-03-31 | 2026-04-20 | $1.11B | 29 | 0002033334-26-000002 |
| 2025-12-31 | 2026-02-12 | $1.11B | 27 | 0002033334-26-000001 |