Northcape Capital Pty Ltd
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 8, 2025), Northcape Capital Pty Ltd reported 31 stock positions worth $625.3 million. Its top holding was HDFC Bank Ltd.-ADR (HDB) at 27.6% of the portfolio, followed by America Movil-SPN ADR Class L (AMOV, 25.7%) and MercadoLibre (MELI, 20.7%). Compared with Q3 2024, it opened 1 new position, sold out of 4, added to 12 and reduced 18. The biggest buy was HDFC Bank Ltd.-ADR (HDB, shares +18%) and the biggest sale MercadoLibre (MELI, shares −10%).
- Most Recent 13F
- Q2 2026
- Location
- SYDNEY, C3
- CIK
- 0001686776
- Portfolio Value
- $625.3M (Q4 2024)
- SEC Filing
- 0001686776-25-000001 ↗ filed Jan 8, 2025
Holdings Value
Holdings 31 stocks · $625.3M
| HDB HDFC Bank Ltd.-ADR | 27.58% | 2,700,346 | $172.4M | Add +17.6% |
| AMOV America Movil-SPN ADR Class L | 25.70% | 11,231,418 | $160.7M | Add +9.4% |
| MELI MercadoLibre Inc. | 20.74% | 76,262 | $129.7M | Reduce -10.0% |
| ITUB Itau Unibanco H-Spon PRF ADR | 7.75% | 9,765,549 | $48.4M | Add +7.0% |
| PAC Grupo Aeroportuario Pac-ADR | 4.81% | 171,841 | $30.1M | Add +4.5% |
| FMX Fomento Economico Mex-SP ADR | 4.65% | 340,036 | $29.1M | Reduce -1.8% |
| TLK Telkom Indonesia Persero-ADR filed as P T TELEKOMUNIKASI INDONESIA | 1.39% | 529,865 | $8.7M | Add +17.2% |
| NVDA Nvidia Corp. | 0.94% | 43,712 | $5.9M | Reduce -18.5% |
| GOOGL Alphabet Inc. Class A | 0.77% | 25,295 | $4.8M | Reduce -15.0% |
| SALES FORCE INC | 0.56% | 10,491 | $3.5M | Reduce -22.4% |
| MICROSOFT | 0.53% | 7,898 | $3.3M | Reduce -9.9% |
| V Visa Inc. Class A | 0.48% | 9,438 | $3.0M | Reduce -26.8% |
| CME GROUP INC | 0.45% | 12,244 | $2.8M | Reduce -9.3% |
| ZOETIS INC | 0.40% | 15,389 | $2.5M | Reduce -8.1% |
| CLH Clean Harbors Inc. | 0.38% | 10,381 | $2.4M | Add +8.0% |
| ADBE Adobe Inc. | 0.37% | 5,155 | $2.3M | Add +44.4% |
| MRSH Marsh & McLennan Cos | 0.36% | 10,648 | $2.3M | Add +15.7% |
| ADVANCED DRAINAGE SYSTEMS | 0.31% | 16,509 | $1.9M | Add +32.1% |
| BDX Becton Dickinson and Co. | 0.28% | 7,834 | $1.8M | Reduce -21.3% |
| AMT American Tower Corp. | 0.23% | 7,870 | $1.4M | Reduce -23.8% |
| EA Electronic Arts Inc. | 0.22% | 9,210 | $1.3M | Reduce -15.6% |
| SYNOPSYS | 0.21% | 2,692 | $1.3M | New |
| VTMX Corp. Inmobiliaria Vesta-ADR filed as VESTA REAL ESTATE CORP | 0.20% | 14,575 | $1.2M | Reduce -30.9% |
| GXO Gxo Logistics Inc. | 0.16% | 23,310 | $1.0M | Reduce -17.0% |
| URI United Rentals Inc. | 0.12% | 1,095 | $771K | Reduce -50.1% |
| HD Home Depot Inc. | 0.12% | 1,879 | $731K | Add +14.9% |
| CHURCH & DWIGHT COMPANY | 0.09% | 5,230 | $548K | Reduce -20.4% |
| CL Colgate-Palmolive Co. | 0.09% | 6,012 | $547K | Add +4.9% |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 0.06% | 5,227 | $392K | Reduce -8.7% |
| ISRG Intuitive Surgical Inc. | 0.05% | 638 | $333K | Reduce -43.0% |
| SPGI S&P Global Inc. | 0.00% | 7,068 | $0 | Add +12.8% |
Portfolio Sells Q3 2024 → Q4 2024
| MELI MercadoLibre Inc. | Reduce -10.0% | 20.74% | −5.00 |
| FMX Fomento Economico Mex-SP ADR | Reduce -1.8% | 4.65% | −0.41 |
| THERMO FISHER SCIENTIFIC INC | Sold out | 0.00% | −0.14 |
| URI United Rentals Inc. | Reduce -50.1% | 0.12% | −0.14 |
| DE Deere & Co. | Sold out | 0.00% | −0.14 |
| AMT American Tower Corp. | Reduce -23.8% | 0.23% | −0.12 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.10 |
| ZOETIS INC | Reduce -8.1% | 0.40% | −0.08 |
| BDX Becton Dickinson and Co. | Reduce -21.3% | 0.28% | −0.07 |
| GXO Gxo Logistics Inc. | Reduce -17.0% | 0.16% | −0.05 |
| ENPHASE ENERGY | Sold out | 0.00% | −0.05 |
| V Visa Inc. Class A | Reduce -26.8% | 0.48% | −0.05 |
| VTMX Corp. Inmobiliaria Vesta-ADR | Reduce -30.9% | 0.20% | −0.04 |
| ISRG Intuitive Surgical Inc. | Reduce -43.0% | 0.05% | −0.03 |
| MICROSOFT | Reduce -9.9% | 0.53% | −0.03 |
| NVDA Nvidia Corp. | Reduce -18.5% | 0.94% | −0.03 |
| EL Estee Lauder Companies Class A | Reduce -8.7% | 0.06% | −0.02 |
| EA Electronic Arts Inc. | Reduce -15.6% | 0.22% | −0.02 |
| CHURCH & DWIGHT COMPANY | Reduce -20.4% | 0.09% | −0.01 |
| SALES FORCE INC | Reduce -22.4% | 0.56% | +0.01 |
| CME GROUP INC | Reduce -9.3% | 0.45% | +0.01 |
| GOOGL Alphabet Inc. Class A | Reduce -15.0% | 0.77% | +0.04 |
Portfolio Buys Q3 2024 → Q4 2024
| HDB HDFC Bank Ltd.-ADR | Add +17.6% | 27.58% | +6.31 |
| AMOV America Movil-SPN ADR Class L | Add +9.4% | 25.70% | +0.82 |
| PAC Grupo Aeroportuario Pac-ADR | Add +4.5% | 4.81% | +0.57 |
| SYNOPSYS | New | 0.21% | +0.21 |
| ADBE Adobe Inc. | Add +44.4% | 0.37% | +0.09 |
| TLK Telkom Indonesia Persero-ADR | Add +17.2% | 1.39% | +0.07 |
| MRSH Marsh & McLennan Cos | Add +15.7% | 0.36% | +0.06 |
| CLH Clean Harbors Inc. | Add +8.0% | 0.38% | +0.04 |
| HD Home Depot Inc. | Add +14.9% | 0.12% | +0.02 |
| ADVANCED DRAINAGE SYSTEMS | Add +32.1% | 0.31% | +0.01 |
| CL Colgate-Palmolive Co. | Add +4.9% | 0.09% | −0.00 |
| SPGI S&P Global Inc. | Add +12.8% | 0.00% | −0.48 |
| ITUB Itau Unibanco H-Spon PRF ADR | Add +7.0% | 7.75% | −1.24 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 8 | $741.8M | AMOV, MELI, HDB, ITUB, FMX |
| Q1 2026 | 8 | $866.7M | AMOV, MELI, HDB, ITUB, FMX |
| Q4 2025 | 8 | $866.9M | MELI, AMOV, HDB, ITUB, PAC |
| Q3 2025 | 8 | $723.4M | AMOV, MELI, HDB, ITUB, PAC |
| Q2 2025 | 8 | $785.7M | HDB, MELI, AMOV, ITUB, PAC |
| Q4 2024 | 31 | $625.3M | HDB, AMOV, MELI, ITUB, PAC |
| Q3 2024 | 34 | $675.3M | MELI, AMOV, HDB, ITUB, FMX |
| Q2 2024 | 31 | $672.8M | AMOV, MELI, HDB, ITUB, FMX |
| Q1 2024 | 30 | $870.3M | TSM, AMOV, MELI, HDB, ITUB |