TT International Asset Management LTD
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 22, 2025), TT International Asset Management LTD reported 54 stock positions worth $669.6 million. Its top holding was Pampa Energia SA-Spon ADR (PAM) at 15.2% of the portfolio, followed by Banco Macro SA-ADR (BMA, 10.9%) and Alibaba Group Holding-SP ADR (BABA, 10.1%). Compared with Q4 2024, it opened 17 new positions, sold out of 19, added to 23 and reduced 13. The biggest buy was Ke Holdings Inc.-ADR (BEKE, shares +5856%) and the biggest sale Taiwan Semiconductor-SP ADR (TSM, shares −98%).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0001809187
- Portfolio Value
- $669.6M (Q1 2025)
- SEC Filing
- 0001809187-25-000015 ↗ filed Apr 22, 2025
Holdings Value
Holdings 54 stocks · $669.6M
| PAM Pampa Energia SA-Spon ADR | 15.21% | 1,319,537 | $101.9M | Add +9.4% |
| BMA Banco Macro SA-ADR | 10.86% | 963,288 | $72.7M | Reduce -15.6% |
| BABA Alibaba Group Holding-SP ADR | 10.06% | 509,354 | $67.4M | Add +84.2% |
| MAKEMYTRIP LIMITED MAURITIUS | 7.07% | 483,479 | $47.4M | Add +58.2% |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 6.96% | 2,318,858 | $46.6M | Add +5855.6% |
| VIST Vista Energy Sab DE CV | 6.74% | 969,521 | $45.1M | Add +19.7% |
| CTRIP.COM INTERNATIONAL-ADR filed as TRIP COM GROUP LTD | 6.74% | 709,530 | $45.1M | New |
| TGS Transportador Gas-ADR SP B | 4.85% | 1,227,656 | $32.5M | Add +3.1% |
| PDD PDD Holdings Inc. | 4.69% | 265,302 | $31.4M | New |
| NTES Netease Inc.-ADR | 3.27% | 212,964 | $21.9M | New |
| ITUB Itau Unibanco H-Spon PRF ADR | 2.66% | 3,241,085 | $17.8M | New |
| TBBB BBB Foods Inc. Class A | 2.28% | 571,999 | $15.3M | New |
| JD Jd.com Inc.-ADR | 2.03% | 330,714 | $13.6M | Add +112.1% |
| TAL Tal Education Group- ADR | 1.92% | 973,824 | $12.9M | Reduce -80.1% |
| NVENT ELECTRIC PLC | 1.00% | 127,983 | $6.7M | New |
| BLD Topbuild Corp. | 0.94% | 20,708 | $6.3M | Add +10.3% |
| ICLR Icon PLC | 0.84% | 32,200 | $5.6M | Reduce -10.8% |
| ANGLOGOLD ASHANTI PLC | 0.79% | 141,957 | $5.3M | Reduce -74.4% |
| CDLR Cadeler A/S-ADR | 0.73% | 250,202 | $4.9M | Add +5.8% |
| TRU Transunion | 0.72% | 57,796 | $4.8M | Add +5.5% |
| H Hyatt Hotels Corp. Class A | 0.68% | 37,017 | $4.5M | Add +10.0% |
| LPLA LPL Financial Holdings Inc. | 0.58% | 11,963 | $3.9M | Reduce -0.7% |
| VRT Vertiv Holdings Co. Class A | 0.58% | 54,045 | $3.9M | Add +55.1% |
| NSIT Insight Enterprises Inc. | 0.55% | 24,704 | $3.7M | New |
| SF Stifel Financial Corp. | 0.54% | 38,126 | $3.6M | Add +46.5% |
| TKR Timken Co. | 0.48% | 44,473 | $3.2M | Reduce -5.8% |
| COCO The Vita Coco Co. Inc. | 0.45% | 99,026 | $3.0M | New |
| VLTO Veralto Corp. | 0.45% | 30,606 | $3.0M | Add +3.1% |
| GMED Globus Medical Inc. Class A | 0.42% | 38,231 | $2.8M | New |
| CYBR Cyberark Software Ltd./Israel | 0.40% | 57,418 | $2.7M | Add +2728.5% |
| AMD Advanced Micro Devices | 0.39% | 9,191 | $2.6M | Reduce -94.1% |
| XYL Xylem Inc. | 0.35% | 19,794 | $2.4M | Reduce -22.8% |
| WCC Wesco International Inc. | 0.31% | 13,414 | $2.1M | Add +12.4% |
| BANCO BBVA ARGENTINA S A | 0.31% | 112,953 | $2.0M | New |
| WGO Winnebago Industries | 0.30% | 57,889 | $2.0M | Reduce -1.3% |
| BRBR Bellring Brands Inc. | 0.27% | 24,552 | $1.8M | New |
| RNW Renew Energy Global PLC-A | 0.27% | 301,392 | $1.8M | Add +102.7% |
| SUPV Grupo Supervielle SA-SP ADR | 0.24% | 122,035 | $1.6M | Add +5.1% |
| P Everpure Inc. Class A filed as PURE STORAGE INC | 0.23% | 35,338 | $1.6M | Reduce -20.4% |
| HUBB Hubbell Inc. | 0.20% | 4,096 | $1.4M | Add +4718.8% |
| TSM Taiwan Semiconductor-SP ADR | 0.20% | 8,133 | $1.4M | Reduce -98.0% |
| ORA Ormat Technologies Inc. | 0.18% | 16,901 | $1.2M | New |
| PTC PTC Inc. | 0.16% | 6,952 | $1.1M | Add +9.9% |
| FSLR First Solar Inc. | 0.15% | 8,048 | $1.0M | Reduce -16.0% |
| OC Owens Corning | 0.15% | 6,961 | $994K | Add +15.3% |
| MIR Mirion Technologies Inc. | 0.14% | 62,346 | $904K | New |
| ECL Ecolab Inc. | 0.12% | 3,298 | $836K | New |
| CSL Carlisle Cos Inc. | 0.12% | 2,416 | $823K | Add +3.1% |
| AMGEN INC | 0.12% | 2,500 | $779K | New |
| SE Sea Ltd.-ADR | 0.09% | 4,421 | $577K | New |
| GILD Gilead Sciences Inc. | 0.08% | 4,675 | $524K | No change |
| TTEK Tetra Tech Inc. | 0.07% | 16,993 | $497K | Add +3.1% |
| TIGO Millicom Intl Cellular S.A. | 0.04% | 4,335 | $282K | Reduce -57.1% |
| ASX Ase Technology Holding -ADR | 0.01% | 4,501 | $39K | New |
Portfolio Sells Q4 2024 → Q1 2025
| TSM Taiwan Semiconductor-SP ADR | Reduce -98.0% | 0.20% | −11.41 |
| YPF YPF S.A.-Sponsored ADR | Sold out | 0.00% | −7.67 |
| TAL Tal Education Group- ADR | Reduce -80.1% | 1.92% | −5.15 |
| BMA Banco Macro SA-ADR | Reduce -15.6% | 10.86% | −5.05 |
| HTHT H World Group Ltd.-ADR | Sold out | 0.00% | −4.60 |
| NVT Nvent Electric PLC | Sold out | 0.00% | −1.06 |
| ANGLOGOLD ASHANTI PLC | Reduce -74.4% | 0.79% | −1.06 |
| DT Dynatrace Inc. | Sold out | 0.00% | −0.54 |
| ACM Aecom | Sold out | 0.00% | −0.52 |
| AMD Advanced Micro Devices | Reduce -94.1% | 0.39% | −0.51 |
| BBAR Bbva Argentina SA-ADR | Sold out | 0.00% | −0.47 |
| TUR iShares MSCI Turkey ETF | Sold out | 0.00% | −0.38 |
| HEES H&E Equipment Services Inc. | Sold out | 0.00% | −0.38 |
| ICLR Icon PLC | Reduce -10.8% | 0.84% | −0.26 |
| HRI Herc Holdings Inc. | Sold out | 0.00% | −0.21 |
| IBN Icici Bank Ltd.-Spon ADR | Sold out | 0.00% | −0.21 |
| P Everpure Inc. Class A | Reduce -20.4% | 0.23% | −0.16 |
| ON On Semiconductor | Sold out | 0.00% | −0.15 |
| AMGN Amgen Inc. | Sold out | 0.00% | −0.14 |
| WGO Winnebago Industries | Reduce -1.3% | 0.30% | −0.11 |
| FSLR First Solar Inc. | Reduce -16.0% | 0.15% | −0.09 |
| XYL Xylem Inc. | Reduce -22.8% | 0.35% | −0.08 |
| BAP Credicorp Ltd. | Sold out | 0.00% | −0.07 |
| ENPH Enphase Energy Inc. | Sold out | 0.00% | −0.07 |
| AI C3.AI Inc. Class A | Sold out | 0.00% | −0.07 |
| COHR Coherent Corp. | Sold out | 0.00% | −0.06 |
| MELI MercadoLibre Inc. | Sold out | 0.00% | −0.05 |
| PLTR Palantir Technologies Inc. Class A | Sold out | 0.00% | −0.04 |
| AU Anglogold Ashanti PLC | Sold out | 0.00% | −0.03 |
| TKR Timken Co. | Reduce -5.8% | 0.48% | −0.01 |
| TIGO Millicom Intl Cellular S.A. | Reduce -57.1% | 0.04% | +0.01 |
| LPLA LPL Financial Holdings Inc. | Reduce -0.7% | 0.58% | +0.02 |
Portfolio Buys Q4 2024 → Q1 2025
| BEKE Ke Holdings Inc.-ADR | Add +5855.6% | 6.96% | +6.85 |
| CTRIP.COM INTERNATIONAL-ADR | New | 6.74% | +6.74 |
| BABA Alibaba Group Holding-SP ADR | Add +84.2% | 10.06% | +6.68 |
| PDD PDD Holdings Inc. | New | 4.69% | +4.69 |
| NTES Netease Inc.-ADR | New | 3.27% | +3.27 |
| ITUB Itau Unibanco H-Spon PRF ADR | New | 2.66% | +2.66 |
| TBBB BBB Foods Inc. Class A | New | 2.28% | +2.28 |
| MAKEMYTRIP LIMITED MAURITIUS | Add +58.2% | 7.07% | +2.13 |
| JD Jd.com Inc.-ADR | Add +112.1% | 2.03% | +1.25 |
| NVENT ELECTRIC PLC | New | 1.00% | +1.00 |
| NSIT Insight Enterprises Inc. | New | 0.55% | +0.55 |
| COCO The Vita Coco Co. Inc. | New | 0.45% | +0.45 |
| VIST Vista Energy Sab DE CV | Add +19.7% | 6.74% | +0.42 |
| GMED Globus Medical Inc. Class A | New | 0.42% | +0.42 |
| CYBR Cyberark Software Ltd./Israel | Add +2728.5% | 0.40% | +0.34 |
| BANCO BBVA ARGENTINA S A | New | 0.31% | +0.31 |
| BRBR Bellring Brands Inc. | New | 0.27% | +0.27 |
| HUBB Hubbell Inc. | Add +4718.8% | 0.20% | +0.20 |
| ORA Ormat Technologies Inc. | New | 0.18% | +0.18 |
| SF Stifel Financial Corp. | Add +46.5% | 0.54% | +0.14 |
| MIR Mirion Technologies Inc. | New | 0.14% | +0.14 |
| ECL Ecolab Inc. | New | 0.12% | +0.12 |
| AMGEN INC | New | 0.12% | +0.12 |
| BLD Topbuild Corp. | Add +10.3% | 0.94% | +0.10 |
| SE Sea Ltd.-ADR | New | 0.09% | +0.09 |
| VRT Vertiv Holdings Co. Class A | Add +55.1% | 0.58% | +0.01 |
| VLTO Veralto Corp. | Add +3.1% | 0.45% | +0.01 |
| ASX Ase Technology Holding -ADR | New | 0.01% | +0.01 |
| OC Owens Corning | Add +15.3% | 0.15% | +0.00 |
| WCC Wesco International Inc. | Add +12.4% | 0.31% | −0.00 |
| CSL Carlisle Cos Inc. | Add +3.1% | 0.12% | −0.00 |
| PTC PTC Inc. | Add +9.9% | 0.16% | −0.01 |
| SUPV Grupo Supervielle SA-SP ADR | Add +5.1% | 0.24% | −0.01 |
| TRU Transunion | Add +5.5% | 0.72% | −0.02 |
| TTEK Tetra Tech Inc. | Add +3.1% | 0.07% | −0.02 |
| CDLR Cadeler A/S-ADR | Add +5.8% | 0.73% | −0.03 |
| PAM Pampa Energia SA-Spon ADR | Add +9.4% | 15.21% | −0.08 |
| H Hyatt Hotels Corp. Class A | Add +10.0% | 0.68% | −0.08 |
| TGS Transportador Gas-ADR SP B | Add +3.1% | 4.85% | −0.17 |
| RNW Renew Energy Global PLC-A | Add +102.7% | 0.27% | −0.42 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 49 | $783.3M | BAP, TSM, ONTO, EGO, IBN |
| Q1 2026 | 48 | $916.0M | BABA, ITUB, ARIS, VIST, BIDU |
| Q4 2025 | 41 | $473.5M | BABA, GGAL, BMA, BIDU, PAM |
| Q3 2025 | 37 | $516.4M | BABA, PAM, ONTO, FUTU, BMA |
| Q2 2025 | 49 | $524.8M | MAKEMYTRIP LIMITED MAURITIUS, PAM, BABA, BMA, RNW |
| Q1 2025 | 54 | $669.6M | PAM, BMA, BABA, MAKEMYTRIP LIMITED MAURITIUS, BEKE |
| Q4 2024Amended | 56 | $693.7M | BMA, PAM, TSM, YPF, TAL |
| Q3 2024 | 56 | $814.9M | YPF, VIST, AU, PDD, TAL |
| Q2 2024 | 55 | $800.2M | YPF, HDB, VIST, MELI, NTES |
| Q1 2024 | 44 | $1.1B | MELI, YPF, VIST, NU, TBBB |