# North of South Capital LLP: Form 13F holdings

An institutional investment manager in LONDON. SEC CIK 2033334.

- Quarter ended: 2026-06-30
- Filed: 2026-07-30
- Reported value: $1.36bn
- Positions: 28 (28 lines in the filing's table; lines for the same security and option type are added together here)
- Compared with: the 13F for the quarter ended 2026-03-31
- Filing: https://www.sec.gov/Archives/edgar/data/2033334/000203333426000003/

## Holdings

As filed, largest first. Reported value is what the manager stated at the quarter end (Jun 30, 2026), in US dollars; it is filing data, not a price. Weight is the share of the total reported value.

| Issuer | Class | Reported value | Weight | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | ---: | --- | --- |
| [ICICI BANK-ADR (IBN)](/companies/ibn.md) | ADR | $252.3m | 18.6% | 8,690,448 |  | Added +250,476 |
| [YPF SA-ADR (YPF)](/companies/ypf.md) | SPON ADR CL D | $183.0m | 13.5% | 4,023,562 |  | Added +499,310 |
| [JD.COM INC-ADR (JD)](/companies/jd.md) | SPON ADS CL A | $169.7m | 12.5% | 6,661,845 |  | Added +2,250,164 |
| [TAIWAN SEMIC-ADR (TSM)](/companies/tsm.md) | SPONSORED ADS | $158.1m | 11.6% | 330,957 |  | Reduced −76,420 |
| [FULL TRUCK A-ADR (YMM)](/companies/ymm.md) | SPONSORED ADS | $105.0m | 7.7% | 12,936,046 |  | Added +1,817,923 |
| [BAIDU INC-SP ADR (BIDU)](/companies/bidu.md) | SPON ADR REP A | $105.0m | 7.7% | 918,941 |  | Added +179,642 |
| [JSC KASPI.KZ (KSPI)](/companies/kspi.md) | SPONSORED ADS | $85.5m | 6.3% | 987,390 |  | Added +417,709 |
| [AUTOHOME INC-ADR (ATHM)](/companies/athm.md) | SP ADS RP CL A | $65.2m | 4.8% | 3,428,188 |  | Reduced −272,443 |
| [YUM CHINA HO (YUMC)](/companies/yumc.md) | COMMON STOCK | $62.8m | 4.6% | 1,536,481 |  | New +1,536,481 |
| [LAUREATE EDUCATI (LAUR)](/companies/laur.md) | COMMON STOCK | $42.6m | 3.1% | 1,171,708 |  | Reduced −355,184 |
| [HDFC BANK-ADR (HDB)](/companies/hdb.md) | SPONSORED ADS | $41.2m | 3.0% | 1,593,267 |  | New +1,593,267 |
| [PAN AMER SILVER (PAAS)](/companies/paas.md) | COMMON STOCK | $26.8m | 2.0% | 598,713 |  | Reduced −552,397 |
| [TRANSPORT GA-ADR (TGS)](/companies/tgs.md) | SPONSORED ADS | $25.7m | 1.9% | 863,044 |  | Added +222,045 |
| ISHARES MSCI IND | MSCI INDIA ETF | $10.9m | 0.8% | 220,987 |  | Unchanged |
| [KT CORP-ADR (KT)](/companies/kt.md) | SPONSORED ADR | $4.0m | 0.3% | 232,718 |  | Added +137,516 |
| [VISTA ENERGY SAB (VIST)](/companies/vist.md) | SPONSORED ADS A | $2.6m | 0.2% | 41,443 |  | Reduced −76 |
| [JOYY INC-ADR (JOYY)](/companies/joyy.md) | ADS REPSTG COM | $2.6m | 0.2% | 39,681 |  | New +39,681 |
| [ALIBABA GRP-ADR (BABA)](/companies/baba.md) | SPONSORED ADS | $2.4m | 0.2% | 24,816 |  | Reduced −11,238 |
| [HARMONY GOLD-ADR (HMY)](/companies/hmy.md) | SPONSORED ADR | $2.1m | 0.2% | 140,946 |  | Added +6,456 |
| [PETROBRAS SA-ADR (PBR)](/companies/pbr.md) | SPONSORED ADR | $2.1m | 0.2% | 131,715 |  | Reduced −95,968 |
| [AXIA ENERGIA-ADR (AXIAY)](/companies/axiay.md) | SPONSORED ADR | $1.9m | 0.1% | 177,337 |  | Added +26,926 |
| CREDICORP LTD | COMMON STOCK | $1.7m | 0.1% | 4,453 |  | Reduced −2,561 |
| [UNITED MICRO-ADR (UMC)](/companies/umc.md) | SPONSORED ADR | $1.4m | 0.1% | 50,700 |  | Reduced −354,375 |
| [LOMA NEGRA C-ADR (LOMA)](/companies/loma.md) | SPONSORED ADS | $1.2m | <0.1% | 108,237 |  | Reduced −55,329 |
| [TELEKOMUNIKA-ADR (TLK)](/companies/tlk.md) | SPONSORED ADR | $943.6k | <0.1% | 70,259 |  | Added +1,414 |
| [MCEWEN INC (MUX)](/companies/mux.md) | COMMON STOCK | $906.5k | <0.1% | 50,000 |  | Unchanged |
| [BBVA ARGENT-ADR (BBAR)](/companies/bbar.md) | SPONSORED ADS | $588.3k | <0.1% | 30,000 |  | Unchanged |
| [GRUPO TELEV-ADR (TV)](/companies/tv.md) | SPON ADR REP ORD | $271.0k | <0.1% | 100,000 |  | Unchanged |

## Sold out

Held at the end of the quarter before and not reported this quarter.

| Issuer | Class | Reported value | Weight | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | ---: | --- | --- |
| [AMERICA MOVIL SA (AMX)](/companies/amx.md) | SPONSORED ADS | $0 | 0.0% | 0 |  | Sold out −41,563 |
| AURA MINERALS | COMMON STOCK | $0 | 0.0% | 0 |  | Sold out −7,304 |
| [LATAM AIRLINES G (LTM)](/companies/ltm.md) | SPONSORED ADR | $0 | 0.0% | 0 |  | Sold out −39,455 |
| [TENARIS-ADR (TS)](/companies/ts.md) | SPONSORED ADS | $0 | 0.0% | 0 |  | Sold out −18,087 |

Source: SEC EDGAR, Form 13F-HR, accession 0002033334-26-000003. Last ingested by Listed: Oct 22, 2026, 05:26 ET. No prices; not investment advice.