North of South Capital LLP
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 3, 2025), North of South Capital LLP reported 18 stock positions worth $823.4 million. Its top holding was Alibaba Group Holding-SP ADR (BABA) at 20.3% of the portfolio, followed by Taiwan Semiconductor-SP ADR (TSM, 12.4%) and Jd.com Inc.-ADR (JD, 12.2%). Compared with Q3 2024, it opened 2 new positions, sold out of 1, added to 10 and reduced 4. The biggest buy was KT Corp.-SP ADR (KT, shares +2407%) and the biggest sale Vipshop Holdings Ltd. - ADR (VIPS, shares −5%).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0002033334
- Portfolio Value
- $823.4M (Q4 2024)
- SEC Filing
- 0002033334-25-000001 ↗ filed Feb 3, 2025
Holdings Value
Holdings 18 stocks · $823.4M
| BABA Alibaba Group Holding-SP ADR | 20.35% | 1,975,760 | $167.5M | Add +17.9% |
| TSM Taiwan Semiconductor-SP ADR | 12.39% | 516,404 | $102.0M | Add +15.8% |
| JD Jd.com Inc.-ADR | 12.21% | 2,899,808 | $100.5M | Add +48.2% |
| KT KT Corp.-SP ADR | 7.95% | 4,217,653 | $65.5M | Add +2407.3% |
| YMM Full Truck Alliance -SPN ADR | 7.48% | 5,692,489 | $61.6M | Add +74.8% |
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 6.39% | 1,236,984 | $52.6M | Add +18.3% |
| BIDU Baidu Inc. - Spon ADR | 6.30% | 614,847 | $51.8M | Add +18.9% |
| VIPS Vipshop Holdings Ltd. - ADR | 6.21% | 3,797,852 | $51.2M | Reduce -5.3% |
| ATHM Autohome Inc.-ADR | 6.19% | 1,965,350 | $51.0M | Add +16.3% |
| VLRS Controladora Vuela Cia-ADR | 4.46% | 4,938,580 | $36.7M | Reduce -8.1% |
| EMBJ Embraer SA-Spon ADR | 3.90% | 875,161 | $32.1M | Reduce -10.2% |
| LAUR Laureate Education Inc. | 2.79% | 1,256,065 | $23.0M | New |
| SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE | 2.64% | 597,057 | $21.7M | Add +19.1% |
| PBR Petroleo Brasileiro-Spon ADR | 0.31% | 198,360 | $2.6M | Add +63.4% |
| IBN Icici Bank Ltd.-Spon ADR | 0.19% | 51,055 | $1.5M | Reduce -74.5% |
| UMC United Microelectron-SP ADR | 0.13% | 160,509 | $1.0M | No change |
| SKM SK Telecom Co. Ltd.-Spon ADR | 0.11% | 42,917 | $903K | New |
| TV Grupo Televisa SA-Spon ADR | 0.02% | 100,000 | $168K | No change |
Portfolio Sells Q3 2024 → Q4 2024
Portfolio Buys Q3 2024 → Q4 2024
| KT KT Corp.-SP ADR | Add +2407.3% | 7.95% | +7.56 |
| YMM Full Truck Alliance -SPN ADR | Add +74.8% | 7.48% | +3.03 |
| YPF YPF S.A.-Sponsored ADR | Add +18.3% | 6.39% | +3.02 |
| LAUR Laureate Education Inc. | New | 2.79% | +2.79 |
| TSM Taiwan Semiconductor-SP ADR | Add +15.8% | 12.39% | +0.64 |
| JD Jd.com Inc.-ADR | Add +48.2% | 12.21% | +0.34 |
| SKM SK Telecom Co. Ltd.-Spon ADR | New | 0.11% | +0.11 |
| PBR Petroleo Brasileiro-Spon ADR | Add +63.4% | 0.31% | +0.04 |
| SQM Quimica Y Minera Chil-SP ADR | Add +19.1% | 2.64% | −0.53 |
| BIDU Baidu Inc. - Spon ADR | Add +18.9% | 6.30% | −1.96 |
| ATHM Autohome Inc.-ADR | Add +16.3% | 6.19% | −2.17 |
| BABA Alibaba Group Holding-SP ADR | Add +17.9% | 20.35% | −6.62 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 28 | $1.4B | IBN, YPF, JD, TSM, YMM |
| Q1 2026 | 29 | $1.1B | IBN, YPF, TSM, JD, YMM |
| Q4 2025 | 27 | $1.1B | IBN, TSM, JD, YMM, PAAS |
| Q3 2025 | 23 | $1.0B | JD, YMM, TSM, PAAS, IBN |
| Q2 2025 | 21 | $951.1M | BABA, JD, TSM, YMM, KT |
| Q1 2025 | 20 | $895.2M | BABA, JD, YMM, TSM, KT |
| Q4 2024 | 18 | $823.4M | BABA, TSM, JD, KT, YMM |
| Q3 2024 | 17 | $659.4M | BABA, JD, TSM, VIPS, ATHM |
| Q2 2024 | 17 | $386.2M | TSM, BABA, BIDU, VIPS, JD |