NORTH OF SOUTH CAPITAL LLP

PrivateCIK: 2033334

Location

LONDON, X0

29

Positions

$1.11B

Total AUM (reported)

38.07M

Total Shares

Allocation by class

SPONSORED ADS$303.27M27.2%

ADR$218.60M19.6%

SPON ADR CL D$162.89M14.6%

SPON ADS CL A$130.45M11.7%

COMMON STOCK$120.08M10.8%

SPON ADR REP A$82.37M7.4%

SP ADS RP CL A$64.28M5.8%

Portfolio Concentration

Top 3$519.16M46.6%

4–10$527.66M47.4%

11–25$63.90M5.7%

Rest$2.39M0.2%

Top 3 weight

46.6%

Top 10 weight

94.0%

Voting Authority Distribution

Total shares with voting rights: 38.07M

Sole

Full voting authority

38.07M

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)

Sole29

Shared0

Other0

Dominant voting typeSole · 100.0% of voting shares

Institutional Holdings29

Rows:

ICICI BANK-ADR

SOLE

ADR

Shares8.44M

TypeSH

Market value$218.60M

19.64%

Sole

8.44M

Shared

0.00

None

0.00

YPF SA-ADR

SOLE

SPON ADR CL D

Shares3.52M

TypeSH

Market value$162.89M

14.63%

Sole

3.52M

Shared

0.00

None

0.00

TAIWAN SEMIC-ADR

SOLE

SPONSORED ADS

Shares407.38K

TypeSH

Market value$137.67M

12.37%

Sole

407.38K

Shared

0.00

None

0.00

JD.COM INC-ADR

SOLE

SPON ADS CL A

Shares4.41M

TypeSH

Market value$130.45M

11.72%

Sole

4.41M

Shared

0.00

None

0.00

FULL TRUCK A-ADR

SOLE

SPONSORED ADS

Shares11.12M

TypeSH

Market value$92.28M

8.29%

Sole

11.12M

Shared

0.00

None

0.00

BAIDU INC-SP ADR

SOLE

SPON ADR REP A

Shares739.30K

TypeSH

Market value$82.37M

7.40%

Sole

739.30K

Shared

0.00

None

0.00

AUTOHOME INC-ADR

SOLE

SP ADS RP CL A

Shares3.70M

TypeSH

Market value$64.28M

5.77%

Sole

3.70M

Shared

0.00

None

0.00

PAN AMER SILVER

SOLE

COMMON STOCK

Shares1.15M

TypeSH

Market value$62.89M

5.65%

Sole

1.15M

Shared

0.00

None

0.00

LAUREATE EDUCATI

SOLE

COMMON STOCK

Shares1.53M

TypeSH

Market value$53.20M

4.78%

Sole

1.53M

Shared

0.00

None

0.00

JSC KASPI.KZ

SOLE

SPONSORED ADS

Shares569.68K

TypeSH

Market value$42.20M

3.79%

Sole

569.68K

Shared

0.00

None

0.00

TRANSPORT GA-ADR

SOLE

SPONSORED ADS

Shares641K

TypeSH

Market value$22.18M

1.99%

Sole

641K

Shared

0.00

None

0.00

ISHARES MSCI IND

SOLE

MSCI INDIA ETF

Shares220.99K

TypeSH

Market value$10.35M

0.93%

Sole

220.99K

Shared

0.00

None

0.00

PETROBRAS SA-ADR

SOLE

SPONSORED ADR

Shares227.68K

TypeSH

Market value$4.72M

0.42%

Sole

227.68K

Shared

0.00

None

0.00

ALIBABA GRP-ADR

SOLE

SPONSORED ADS

Shares36.05K

TypeSH

Market value$4.52M

0.41%

Sole

36.05K

Shared

0.00

None

0.00

UNITED MICRO-ADR

SOLE

SPONSORED ADR

Shares405.07K

TypeSH

Market value$3.64M

0.33%

Sole

405.07K

Shared

0.00

None

0.00

VISTA ENERGY SAB

SOLE

SPONSORED ADS A

Shares41.52K

TypeSH

Market value$3.13M

0.28%

Sole

41.52K

Shared

0.00

None

0.00

CREDICORP LTD

SOLE

COMMON STOCK

Shares7.01K

TypeSH

Market value$2.38M

0.21%

Sole

7.01K

Shared

0.00

None

0.00

HARMONY GOLD-ADR

SOLE

SPONSORED ADR

Shares134.49K

TypeSH

Market value$2.07M

0.19%

Sole

134.49K

Shared

0.00

None

0.00

KT CORP-ADR

SOLE

SPONSORED ADR

Shares95.20K

TypeSH

Market value$2.04M

0.18%

Sole

95.20K

Shared

0.00

None

0.00

LATAM AIRLINES G

SOLE

SPONSORED ADR

Shares39.45K

TypeSH

Market value$1.95M

0.18%

Sole

39.45K

Shared

0.00

None

0.00

LOMA NEGRA C-ADR

SOLE

SPONSORED ADS

Shares163.57K

TypeSH

Market value$1.81M

0.16%

Sole

163.57K

Shared

0.00

None

0.00

AXIA ENERGIA-ADR

SOLE

SPONSORED ADR

Shares150.41K

TypeSH

Market value$1.70M

0.15%

Sole

150.41K

Shared

0.00

None

0.00

TELEKOMUNIKA-ADR

SOLE

SPONSORED ADR

Shares68.84K

TypeSH

Market value$1.29M

0.12%

Sole

68.84K

Shared

0.00

None

0.00

AMERICA MOVIL SA

SOLE

SPONSORED ADS

Shares41.56K

TypeSH

Market value$1.06M

0.10%

Sole

41.56K

Shared

0.00

None

0.00

TENARIS-ADR

SOLE

SPONSORED ADS

Shares18.09K

TypeSH

Market value$1.05M

0.09%

Sole

18.09K

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	Shared	None
ICICI BANK-ADRSOLE	ADR	8.44M	SH	$218.60M 19.64%	8.44M	0.00	0.00
YPF SA-ADRSOLE	SPON ADR CL D	3.52M	SH	$162.89M 14.63%	3.52M	0.00	0.00
TAIWAN SEMIC-ADRSOLE	SPONSORED ADS	407.38K	SH	$137.67M 12.37%	407.38K	0.00	0.00
JD.COM INC-ADRSOLE	SPON ADS CL A	4.41M	SH	$130.45M 11.72%	4.41M	0.00	0.00
FULL TRUCK A-ADRSOLE	SPONSORED ADS	11.12M	SH	$92.28M 8.29%	11.12M	0.00	0.00
BAIDU INC-SP ADRSOLE	SPON ADR REP A	739.30K	SH	$82.37M 7.40%	739.30K	0.00	0.00
AUTOHOME INC-ADRSOLE	SP ADS RP CL A	3.70M	SH	$64.28M 5.77%	3.70M	0.00	0.00
PAN AMER SILVERSOLE	COMMON STOCK	1.15M	SH	$62.89M 5.65%	1.15M	0.00	0.00
LAUREATE EDUCATISOLE	COMMON STOCK	1.53M	SH	$53.20M 4.78%	1.53M	0.00	0.00
JSC KASPI.KZSOLE	SPONSORED ADS	569.68K	SH	$42.20M 3.79%	569.68K	0.00	0.00
TRANSPORT GA-ADRSOLE	SPONSORED ADS	641K	SH	$22.18M 1.99%	641K	0.00	0.00
ISHARES MSCI INDSOLE	MSCI INDIA ETF	220.99K	SH	$10.35M 0.93%	220.99K	0.00	0.00
PETROBRAS SA-ADRSOLE	SPONSORED ADR	227.68K	SH	$4.72M 0.42%	227.68K	0.00	0.00
ALIBABA GRP-ADRSOLE	SPONSORED ADS	36.05K	SH	$4.52M 0.41%	36.05K	0.00	0.00
UNITED MICRO-ADRSOLE	SPONSORED ADR	405.07K	SH	$3.64M 0.33%	405.07K	0.00	0.00
VISTA ENERGY SABSOLE	SPONSORED ADS A	41.52K	SH	$3.13M 0.28%	41.52K	0.00	0.00
CREDICORP LTDSOLE	COMMON STOCK	7.01K	SH	$2.38M 0.21%	7.01K	0.00	0.00
HARMONY GOLD-ADRSOLE	SPONSORED ADR	134.49K	SH	$2.07M 0.19%	134.49K	0.00	0.00
KT CORP-ADRSOLE	SPONSORED ADR	95.20K	SH	$2.04M 0.18%	95.20K	0.00	0.00
LATAM AIRLINES GSOLE	SPONSORED ADR	39.45K	SH	$1.95M 0.18%	39.45K	0.00	0.00
LOMA NEGRA C-ADRSOLE	SPONSORED ADS	163.57K	SH	$1.81M 0.16%	163.57K	0.00	0.00
AXIA ENERGIA-ADRSOLE	SPONSORED ADR	150.41K	SH	$1.70M 0.15%	150.41K	0.00	0.00
TELEKOMUNIKA-ADRSOLE	SPONSORED ADR	68.84K	SH	$1.29M 0.12%	68.84K	0.00	0.00
AMERICA MOVIL SASOLE	SPONSORED ADS	41.56K	SH	$1.06M 0.10%	41.56K	0.00	0.00
TENARIS-ADRSOLE	SPONSORED ADS	18.09K	SH	$1.05M 0.09%	18.09K	0.00	0.00

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