RWC Asset Advisors (us) LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 8, 2024), RWC Asset Advisors (us) LLC reported 22 stock positions worth $1.3 billion. Its top holding was Gold Fields Ltd.-Spons ADR (GFI) at 17.1% of the portfolio, followed by Cemex Sab-Spons ADR Part Cer (CX, 8.3%) and Petroleo Brasileiro-Spon ADR (PBR, 8.0%). Compared with Q4 2023, it opened 5 new positions, sold out of 2, added to 7 and reduced 5. The biggest buy was a new position in Alibaba Group Holding-SP ADR (BABA) and the biggest sale PDD (PDD, shares −62%).
- Most Recent 13F
- Q2 2026
- Location
- MIAMI, FL
- CIK
- 0001638081
- Portfolio Value
- $1.3B (Q1 2024)
- SEC Filing
- 0001398344-24-008962 ↗ filed May 8, 2024
Holdings Value
Holdings 22 stocks · $1.3B
| GFI Gold Fields Ltd.-Spons ADR | 17.11% | 13,718,283 | $218.0M | Add +7.1% |
| CX Cemex Sab-Spons ADR Part Cer | 8.32% | 11,758,909 | $105.9M | Add +38.4% |
| PBR Petroleo Brasileiro-Spon ADR | 8.03% | 6,724,331 | $102.3M | Reduce -1.3% |
| MELI MercadoLibre Inc. | 6.93% | 58,378 | $88.3M | Reduce -2.0% |
| PDD PDD Holdings Inc. | 6.60% | 723,197 | $84.1M | Reduce -62.4% |
| VALE Vale SA-SP ADR | 6.54% | 6,836,013 | $83.3M | Reduce -36.9% |
| BIDU Baidu Inc. - Spon ADR | 6.47% | 782,764 | $82.4M | Reduce -32.8% |
| BABA Alibaba Group Holding-SP ADR | 6.46% | 1,137,013 | $82.3M | New |
| SCCO Southern Copper Corp. | 5.85% | 700,026 | $74.6M | Add +32.5% |
| TCOM Trip.com Group Ltd.-ADR | 5.77% | 1,675,033 | $73.5M | Add +316.4% |
| LI Li Auto Inc. - ADR | 4.36% | 1,835,968 | $55.6M | New |
| BZ Kanzhun Ltd. - ADR | 4.36% | 3,170,461 | $55.6M | Add +78.4% |
| KOS Kosmos Energy Ltd. | 4.08% | 8,718,455 | $52.0M | Add +14.7% |
| GGAL Grupo Financiero Galicia-ADR | 3.95% | 1,978,450 | $50.3M | New |
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 3.02% | 1,945,328 | $38.5M | New |
| EDU New Oriental Educatio-SP ADR | 0.76% | 111,954 | $9.7M | New |
| TEO Telecom Argentina SA-SP ADR | 0.76% | 1,218,582 | $9.7M | Add +293.9% |
| CAAP Corp. America Airports SA filed as CORPORACION AMER ARPTS S A | 0.18% | 135,260 | $2.3M | No change |
| GTE Gran Tierra Energy Inc. | 0.18% | 314,423 | $2.2M | No change |
| BSAC Banco Santander-Chile-ADR | 0.15% | 97,984 | $1.9M | No change |
| LOMA Loma Negra Cia Ind-Spon ADR | 0.08% | 160,349 | $1.1M | No change |
| RDY Dr. Reddy's Laboratories-ADR | 0.05% | 8,174 | $600K | No change |
Portfolio Sells Q4 2023 → Q1 2024
| PDD PDD Holdings Inc. | Reduce -62.4% | 6.60% | −15.68 |
| VALE Vale SA-SP ADR | Reduce -36.9% | 6.54% | −7.06 |
| XPEV Xpeng Inc. - ADR | Sold out | 0.00% | −5.12 |
| BIDU Baidu Inc. - Spon ADR | Reduce -32.8% | 6.47% | −4.51 |
| PBR Petroleo Brasileiro-Spon ADR | Reduce -1.3% | 8.03% | −0.58 |
| MELI MercadoLibre Inc. | Reduce -2.0% | 6.93% | −0.48 |
| IBN Icici Bank Ltd.-Spon ADR | Sold out | 0.00% | −0.23 |
Portfolio Buys Q4 2023 → Q1 2024
| BABA Alibaba Group Holding-SP ADR | New | 6.46% | +6.46 |
| TCOM Trip.com Group Ltd.-ADR | Add +316.4% | 5.77% | +4.62 |
| LI Li Auto Inc. - ADR | New | 4.36% | +4.36 |
| GGAL Grupo Financiero Galicia-ADR | New | 3.95% | +3.95 |
| CX Cemex Sab-Spons ADR Part Cer | Add +38.4% | 8.32% | +3.10 |
| YPF YPF S.A.-Sponsored ADR | New | 3.02% | +3.02 |
| GFI Gold Fields Ltd.-Spons ADR | Add +7.1% | 17.11% | +2.45 |
| SCCO Southern Copper Corp. | Add +32.5% | 5.85% | +2.25 |
| BZ Kanzhun Ltd. - ADR | Add +78.4% | 4.36% | +2.02 |
| EDU New Oriental Educatio-SP ADR | New | 0.76% | +0.76 |
| TEO Telecom Argentina SA-SP ADR | Add +293.9% | 0.76% | +0.59 |
| KOS Kosmos Energy Ltd. | Add +14.7% | 4.08% | +0.04 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 16 | $449.6M | TSM, SQM, PBR, EMBJ, VALE |
| Q1 2026 | 14 | $464.4M | SQM, PBR, VALE, EMBJ, GFI |
| Q4 2025 | 13 | $527.9M | SQM, VALE, EMBJ, GFI, BABA |
| Q3 2025 | 17 | $610.9M | BABA, NIO, VALE, GFI, BZ |
| Q2 2025 | 16 | $414.6M | GFI, LI, PBR, BABA, MELI |
| Q1 2025 | 19 | $549.0M | GFI, BABA, LI, PBR, MELI |
| Q4 2024 | 15 | $501.3M | GFI, LI, CX, PBR, BABA |
| Q3 2024 | 19 | $836.9M | BABA, GFI, MELI, PBR, CX |
| Q2 2024 | 18 | $980.4M | GFI, PDD, BZ, CX, MELI |
| Q1 2024 | 22 | $1.3B | GFI, CX, PBR, MELI, PDD |