NORTH OF SOUTH CAPITAL LLP

PrivateCIK: 2033334

Location

LONDON, X0

28

Positions

$1.36B

Total AUM (reported)

45.16M

Total Shares

Allocation by class

SPONSORED ADS$419.67M30.9%

ADR$252.28M18.6%

SPON ADR CL D$182.95M13.5%

SPON ADS CL A$169.74M12.5%

COMMON STOCK$134.81M9.9%

SPON ADR REP A$105.03M7.7%

SP ADS RP CL A$65.24M4.8%

Portfolio Concentration

Top 3$604.98M44.5%

4–10$624.26M45.9%

11–25$127.65M9.4%

Rest$1.77M0.1%

Top 3 weight

44.5%

Top 10 weight

90.5%

Voting Authority Distribution

Total shares with voting rights: 45.16M

Sole

Full voting authority

45.16M

shares

% of voting shares100.0%

Shared

Joint voting authority

0.00

shares

% of voting shares0.0%

None

No voting authority

0.00

shares

% of voting shares0.0%

Investment Discretion (by position count)

Sole28

Shared0

Other0

Dominant voting typeSole · 100.0% of voting shares

Institutional Holdings28

Rows:

ICICI BANK-ADR

SOLE

ADR

Shares8.69M

TypeSH

Market value$252.28M

18.57%

Sole

8.69M

Shared

0.00

None

0.00

YPF SA-ADR

SOLE

SPON ADR CL D

Shares4.02M

TypeSH

Market value$182.95M

13.47%

Sole

4.02M

Shared

0.00

None

0.00

JD.COM INC-ADR

SOLE

SPON ADS CL A

Shares6.66M

TypeSH

Market value$169.74M

12.49%

Sole

6.66M

Shared

0.00

None

0.00

TAIWAN SEMIC-ADR

SOLE

SPONSORED ADS

Shares330.96K

TypeSH

Market value$158.06M

11.63%

Sole

330.96K

Shared

0.00

None

0.00

FULL TRUCK A-ADR

SOLE

SPONSORED ADS

Shares12.94M

TypeSH

Market value$105.04M

7.73%

Sole

12.94M

Shared

0.00

None

0.00

BAIDU INC-SP ADR

SOLE

SPON ADR REP A

Shares918.94K

TypeSH

Market value$105.03M

7.73%

Sole

918.94K

Shared

0.00

None

0.00

JSC KASPI.KZ

SOLE

SPONSORED ADS

Shares987.39K

TypeSH

Market value$85.55M

6.30%

Sole

987.39K

Shared

0.00

None

0.00

AUTOHOME INC-ADR

SOLE

SP ADS RP CL A

Shares3.43M

TypeSH

Market value$65.24M

4.80%

Sole

3.43M

Shared

0.00

None

0.00

YUM CHINA HO

SOLE

COMMON STOCK

Shares1.54M

TypeSH

Market value$62.80M

4.62%

Sole

1.54M

Shared

0.00

None

0.00

LAUREATE EDUCATI

SOLE

COMMON STOCK

Shares1.17M

TypeSH

Market value$42.56M

3.13%

Sole

1.17M

Shared

0.00

None

0.00

HDFC BANK-ADR

SOLE

SPONSORED ADS

Shares1.59M

TypeSH

Market value$41.15M

3.03%

Sole

1.59M

Shared

0.00

None

0.00

PAN AMER SILVER

SOLE

COMMON STOCK

Shares598.71K

TypeSH

Market value$26.82M

1.97%

Sole

598.71K

Shared

0.00

None

0.00

TRANSPORT GA-ADR

SOLE

SPONSORED ADS

Shares863.04K

TypeSH

Market value$25.66M

1.89%

Sole

863.04K

Shared

0.00

None

0.00

ISHARES MSCI IND

SOLE

MSCI INDIA ETF

Shares220.99K

TypeSH

Market value$10.91M

0.80%

Sole

220.99K

Shared

0.00

None

0.00

KT CORP-ADR

SOLE

SPONSORED ADR

Shares232.72K

TypeSH

Market value$4.02M

0.30%

Sole

232.72K

Shared

0.00

None

0.00

VISTA ENERGY SAB

SOLE

SPONSORED ADS A

Shares41.44K

TypeSH

Market value$2.64M

0.19%

Sole

41.44K

Shared

0.00

None

0.00

JOYY INC-ADR

SOLE

ADS REPSTG COM

Shares39.68K

TypeSH

Market value$2.62M

0.19%

Sole

39.68K

Shared

0.00

None

0.00

ALIBABA GRP-ADR

SOLE

SPONSORED ADS

Shares24.82K

TypeSH

Market value$2.38M

0.18%

Sole

24.82K

Shared

0.00

None

0.00

HARMONY GOLD-ADR

SOLE

SPONSORED ADR

Shares140.95K

TypeSH

Market value$2.14M

0.16%

Sole

140.95K

Shared

0.00

None

0.00

PETROBRAS SA-ADR

SOLE

SPONSORED ADR

Shares131.72K

TypeSH

Market value$2.13M

0.16%

Sole

131.72K

Shared

0.00

None

0.00

AXIA ENERGIA-ADR

SOLE

SPONSORED ADR

Shares177.34K

TypeSH

Market value$1.87M

0.14%

Sole

177.34K

Shared

0.00

None

0.00

CREDICORP LTD

SOLE

COMMON STOCK

Shares4.45K

TypeSH

Market value$1.73M

0.13%

Sole

4.45K

Shared

0.00

None

0.00

UNITED MICRO-ADR

SOLE

SPONSORED ADR

Shares50.70K

TypeSH

Market value$1.38M

0.10%

Sole

50.70K

Shared

0.00

None

0.00

LOMA NEGRA C-ADR

SOLE

SPONSORED ADS

Shares108.24K

TypeSH

Market value$1.24M

0.09%

Sole

108.24K

Shared

0.00

None

0.00

TELEKOMUNIKA-ADR

SOLE

SPONSORED ADR

Shares70.26K

TypeSH

Market value$943.6K

0.07%

Sole

70.26K

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	Shared	None
ICICI BANK-ADRSOLE	ADR	8.69M	SH	$252.28M 18.57%	8.69M	0.00	0.00
YPF SA-ADRSOLE	SPON ADR CL D	4.02M	SH	$182.95M 13.47%	4.02M	0.00	0.00
JD.COM INC-ADRSOLE	SPON ADS CL A	6.66M	SH	$169.74M 12.49%	6.66M	0.00	0.00
TAIWAN SEMIC-ADRSOLE	SPONSORED ADS	330.96K	SH	$158.06M 11.63%	330.96K	0.00	0.00
FULL TRUCK A-ADRSOLE	SPONSORED ADS	12.94M	SH	$105.04M 7.73%	12.94M	0.00	0.00
BAIDU INC-SP ADRSOLE	SPON ADR REP A	918.94K	SH	$105.03M 7.73%	918.94K	0.00	0.00
JSC KASPI.KZSOLE	SPONSORED ADS	987.39K	SH	$85.55M 6.30%	987.39K	0.00	0.00
AUTOHOME INC-ADRSOLE	SP ADS RP CL A	3.43M	SH	$65.24M 4.80%	3.43M	0.00	0.00
YUM CHINA HOSOLE	COMMON STOCK	1.54M	SH	$62.80M 4.62%	1.54M	0.00	0.00
LAUREATE EDUCATISOLE	COMMON STOCK	1.17M	SH	$42.56M 3.13%	1.17M	0.00	0.00
HDFC BANK-ADRSOLE	SPONSORED ADS	1.59M	SH	$41.15M 3.03%	1.59M	0.00	0.00
PAN AMER SILVERSOLE	COMMON STOCK	598.71K	SH	$26.82M 1.97%	598.71K	0.00	0.00
TRANSPORT GA-ADRSOLE	SPONSORED ADS	863.04K	SH	$25.66M 1.89%	863.04K	0.00	0.00
ISHARES MSCI INDSOLE	MSCI INDIA ETF	220.99K	SH	$10.91M 0.80%	220.99K	0.00	0.00
KT CORP-ADRSOLE	SPONSORED ADR	232.72K	SH	$4.02M 0.30%	232.72K	0.00	0.00
VISTA ENERGY SABSOLE	SPONSORED ADS A	41.44K	SH	$2.64M 0.19%	41.44K	0.00	0.00
JOYY INC-ADRSOLE	ADS REPSTG COM	39.68K	SH	$2.62M 0.19%	39.68K	0.00	0.00
ALIBABA GRP-ADRSOLE	SPONSORED ADS	24.82K	SH	$2.38M 0.18%	24.82K	0.00	0.00
HARMONY GOLD-ADRSOLE	SPONSORED ADR	140.95K	SH	$2.14M 0.16%	140.95K	0.00	0.00
PETROBRAS SA-ADRSOLE	SPONSORED ADR	131.72K	SH	$2.13M 0.16%	131.72K	0.00	0.00
AXIA ENERGIA-ADRSOLE	SPONSORED ADR	177.34K	SH	$1.87M 0.14%	177.34K	0.00	0.00
CREDICORP LTDSOLE	COMMON STOCK	4.45K	SH	$1.73M 0.13%	4.45K	0.00	0.00
UNITED MICRO-ADRSOLE	SPONSORED ADR	50.70K	SH	$1.38M 0.10%	50.70K	0.00	0.00
LOMA NEGRA C-ADRSOLE	SPONSORED ADS	108.24K	SH	$1.24M 0.09%	108.24K	0.00	0.00
TELEKOMUNIKA-ADRSOLE	SPONSORED ADR	70.26K	SH	$943.6K 0.07%	70.26K	0.00	0.00

Page 1 of 2