North of South Capital LLP

Q4 2025 13F-HR Holdings

Location
London, X0
Holdings as of
12/31/2025
Date filed
2/12/2026
Form type
13F-HR
Num holdings
27
Total value ($000)
$1,112,834
Net value change ($000)
+72,243 (6.9%)
New positions
5
Sold out positions
1
Turnover %
0.7%
Sector allocation + QoQ delta (equities-only)
Prev filing: 10/27/2025 Next filing: 4/20/2026 SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
IBN 122,284 124.9%
YPF 21,052 53.5%
TSM 10,446 8.2%
KT 2,399 2.9%
BAP 1,954 183.5%
HMY 1,895 NEW
LOMA 1,554 NEW
KSPI 1,425 NEW
LAUR 1,132 2.2%
BIDU 946 1.7%
Top Reduces (Value $000, Stocks/ETFs)
VIPS -25,885 -39.3%
YMM -21,181 -15.4%
JD -20,410 -14.3%
ATHM -14,641 -22.4%
PAAS -4,927 -4.2%
AXIA -3,584 -82.2%
AUGO -1,687 -54.6%
SKM -1,133 -100.0%
VLRS -1,000 -2.7%
BABA -481 -7.7%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type