RWC Asset Advisors (us) LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 7, 2025), RWC Asset Advisors (us) LLC reported 19 stock positions worth $549.0 million. Its top holding was Gold Fields Ltd.-Spons ADR (GFI) at 20.4% of the portfolio, followed by Alibaba Group Holding-SP ADR (BABA, 14.8%) and Li Auto Inc. - ADR (LI, 13.7%). Compared with Q4 2024, it opened 5 new positions, sold out of 1, added to 2 and reduced 8. The biggest buy was a new position in PDD (PDD) and the biggest sale an exit from Cemex Sab-Spons ADR Part Cer (CX).
- Most Recent 13F
- Q2 2026
- Location
- MIAMI, FL
- CIK
- 0001638081
- Portfolio Value
- $549.0M (Q1 2025)
- SEC Filing
- 0001398344-25-008887 ↗ filed May 7, 2025
Holdings Value
Holdings 19 stocks · $549.0M
| GFI Gold Fields Ltd.-Spons ADR | 20.35% | 5,058,302 | $111.7M | Reduce -25.3% |
| BABA Alibaba Group Holding-SP ADR | 14.82% | 615,165 | $81.3M | Add +0.1% |
| LI Li Auto Inc. - ADR | 13.65% | 2,974,001 | $74.9M | Reduce -6.5% |
| PBR Petroleo Brasileiro-Spon ADR | 11.98% | 4,588,150 | $65.8M | Reduce -12.1% |
| MELI MercadoLibre Inc. | 8.73% | 24,560 | $47.9M | Add +13.9% |
| PDD PDD Holdings Inc. | 8.10% | 375,857 | $44.5M | New |
| SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE | 6.77% | 935,557 | $37.2M | New |
| SCCO Southern Copper Corp. | 4.40% | 258,276 | $24.1M | Reduce -19.4% |
| EMBJ Embraer SA-Spon ADR | 3.52% | 418,035 | $19.3M | New |
| GGAL Grupo Financiero Galicia-ADR | 2.26% | 227,470 | $12.4M | Reduce -48.0% |
| TEO Telecom Argentina SA-SP ADR | 1.42% | 763,829 | $7.8M | Reduce -8.5% |
| KOS Kosmos Energy Ltd. | 1.20% | 2,891,763 | $6.6M | Reduce -12.1% |
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 0.85% | 133,298 | $4.7M | Reduce -78.4% |
| NTES Netease Inc.-ADR | 0.43% | 22,779 | $2.3M | New |
| CAAP Corp. America Airports SA filed as CORPORACION AMER ARPTS S A | 0.37% | 112,226 | $2.1M | No change |
| BSAC Banco Santander-Chile-ADR | 0.32% | 77,653 | $1.8M | No change |
| LOMA Loma Negra Cia Ind-Spon ADR | 0.32% | 160,349 | $1.8M | No change |
| BANCOLOMBIA S.A.-SPONS ADR | 0.29% | 39,108 | $1.6M | New |
| GTE Gran Tierra Energy Inc. | 0.22% | 251,274 | $1.2M | No change |
Portfolio Sells Q4 2024 → Q1 2025
| CX Cemex Sab-Spons ADR Part Cer | Sold out | 0.00% | −13.55 |
| YPF YPF S.A.-Sponsored ADR | Reduce -78.4% | 0.85% | −4.39 |
| GGAL Grupo Financiero Galicia-ADR | Reduce -48.0% | 2.26% | −3.18 |
| LI Li Auto Inc. - ADR | Reduce -6.5% | 13.65% | −1.57 |
| SCCO Southern Copper Corp. | Reduce -19.4% | 4.40% | −1.43 |
| PBR Petroleo Brasileiro-Spon ADR | Reduce -12.1% | 11.98% | −1.40 |
| KOS Kosmos Energy Ltd. | Reduce -12.1% | 1.20% | −1.04 |
| TEO Telecom Argentina SA-SP ADR | Reduce -8.5% | 1.42% | −0.68 |
| GFI Gold Fields Ltd.-Spons ADR | Reduce -25.3% | 20.35% | +2.52 |
Portfolio Buys Q4 2024 → Q1 2025
| PDD PDD Holdings Inc. | New | 8.10% | +8.10 |
| SQM Quimica Y Minera Chil-SP ADR | New | 6.77% | +6.77 |
| BABA Alibaba Group Holding-SP ADR | Add +0.1% | 14.82% | +4.42 |
| EMBJ Embraer SA-Spon ADR | New | 3.52% | +3.52 |
| MELI MercadoLibre Inc. | Add +13.9% | 8.73% | +1.42 |
| NTES Netease Inc.-ADR | New | 0.43% | +0.43 |
| BANCOLOMBIA S.A.-SPONS ADR | New | 0.29% | +0.29 |
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 |