Fourth Sail Capital LP
Net buyer this quarter
$660M
26
+$44.6M
60.6%
Holdings
| Company | Value | % of portfolio | % of company | POSITION CHANGE qoq % | First reported |
|---|---|---|---|---|---|
| Q2 2026 | |||||
 BCO | $93.2M | 14.12% | 2.39% | +137.4% | Q1 2024 |
 DLO | $51.2M | 7.77% | 1.34% | +73.9% | Q4 2023 |
 AVO | $46.9M | 7.10% | 4.50% | +258.5% | Q4 2025 |
 BAP | $46.5M | 7.05% | 0.13% | Not reported | Q2 2024 |
 TX | $29M | 4.40% | 0.03% | New | Q2 2026 |
 HRL | $27.9M | 4.23% | Not reported | +10.5% | Q3 2025 |
 MEOH | $27.5M | 4.17% | 0.77% | +84.0% | Q1 2026 |
 VIST | $26.5M | 4.01% | 0.44% | +73.0% | Q3 2025 |
 SFD | $25.9M | 3.92% | 0.27% | -4.4% | Q2 2025 |
 CEPU | $25.3M | 3.84% | 0.11% | +48.1% | Q2 2025 |
 VZLA | $25M | 3.79% | 2.16% | Not reported | Q2 2025 |
 XP | $24.4M | 3.70% | Not reported | Not reported | Q3 2024 |
 LOMA | $22M | 3.34% | 0.33% | -22.1% | Q1 2025 |
 SLVM | $17.6M | 2.67% | 1.17% | +9.2% | Q2 2025 |
 GPRK | $17.5M | 2.66% | 3.73% | -13.4% | Q3 2025 |
 CXT | $17.5M | 2.66% | 0.60% | New | Q2 2026 |
 WU | $16.3M | 2.47% | 0.68% | Not reported | Q3 2025 |
 VMC | $16M | 2.43% | 0.04% | New | Q2 2026 |
 GGAL | $16M | 2.42% | Not reported | Not reported | Q4 2024 |
 STNE | $15.9M | 2.41% | Not reported | Not reported | Q2 2024 |
 MLM | $15.6M | 2.36% | 0.05% | New | Q2 2026 |
 ACN | $15.5M | 2.35% | 0.02% | Not reported | Q3 2025 |
 PAX | $15.1M | 2.29% | Not reported | New | Q2 2026 |
 TECK | $13.4M | 2.02% | Not reported | -55.0% | Q4 2025 |
 EVEX | $8.22M | 1.25% | 0.94% | New | Q2 2026 |
 CPA | $3.81M | 0.58% | 0.06% | -82.1% | Q4 2023 |
| Q1 2026 | |||||
 NATL | $88.4M | 14.53% | 2.75% | +130.1% | Q4 2025 |
 MELI | $57M | 9.36% | 0.07% | Not reported | Q4 2023 |
| BCO | $43.1M | 7.08% | 1.01% | Not reported | Q1 2024 |
| SFD | $31.2M | 5.13% | 0.28% | -2.1% | Q2 2025 |
| DLO | $29.4M | 4.83% | 0.77% | +24.3% | Q4 2023 |
 TEO | $29.2M | 4.80% | Not reported | +451.4% | Q3 2025 |
| LOMA | $27.4M | 4.50% | 0.42% | +2.7% | Q1 2025 |
| TECK | $25.8M | 4.25% | Not reported | +236.2% | Q4 2025 |
| VZLA | $25M | 4.11% | 2.54% | +22.9% | Q2 2025 |
 LILAK | $24.3M | 4.00% | Not reported | -4.8% | Q4 2023 |
| HRL | $23.1M | 3.79% | Not reported | -29.4% | Q3 2025 |
| GPRK | $21.1M | 3.48% | 4.30% | -7.1% | Q3 2025 |
| CEPU | $19.4M | 3.18% | 0.08% | -3.4% | Q2 2025 |
| MEOH | $19.3M | 3.17% | 0.42% | New | Q1 2026 |
 IFS | $18.6M | 3.05% | 0.33% | Not reported | Q1 2025 |
| VIST | $18.1M | 2.98% | 0.25% | Not reported | Q3 2025 |
| SLVM | $18.1M | 2.97% | 1.08% | +21.9% | Q2 2025 |
 YPF | $16.8M | 2.76% | 0.09% | Not reported | Q1 2024 |
| CVGW | $16.3M | 2.67% | 3.53% | -9.7% | Q4 2025 |
| CPA | $15.5M | 2.55% | 0.33% | +5.1% | Q4 2023 |
| AVO | $15.3M | 2.51% | 1.57% | +1674.0% | Q4 2025 |
 EMBJ | $11M | 1.82% | 0.03% | New | Q1 2026 |
| LILA | $7.86M | 1.29% | Not reported | Not reported | Q1 2025 |
 SXT | $3.73M | 0.61% | 0.10% | New | Q1 2026 |
 GDYN | $3.48M | 0.57% | 0.73% | -84.1% | Q4 2023 |
| Q4 2025 | |||||
 BBAR | $51.4M | 8.25% | 0.46% | +6.7% | Q1 2024 |
| ACN | $38.3M | 6.14% | 0.02% | +158.3% | Q3 2025 |
| BAP | $34.7M | 5.57% | 0.13% | +415.1% | Q2 2024 |
| GDYN | $34.6M | 5.55% | 4.52% | +36.2% | Q4 2023 |
| HRL | $34.2M | 5.48% | Not reported | +104.5% | Q3 2025 |
| VZLA | $33.7M | 5.41% | 2.07% | +42.4% | Q2 2025 |
| NATL | $33.6M | 5.39% | 1.20% | New | Q4 2025 |
| LOMA | $31.1M | 4.99% | 0.41% | +1.4% | Q1 2025 |
| DLO | $25.8M | 4.14% | 0.62% | +54.8% | Q4 2023 |
| SFD | $25.5M | 4.09% | 0.29% | +16.2% | Q2 2025 |
 AERO | $24.2M | 3.88% | 0.08% | New | Q4 2025 |
| WU | $24.1M | 3.87% | 0.82% | +32.9% | Q3 2025 |
| LILAK | $21.6M | 3.47% | Not reported | +22.6% | Q4 2023 |
| CEPU | $20.9M | 3.34% | 0.08% | -42.4% | Q2 2025 |
| GPRK | $17.8M | 2.85% | 4.63% | -11.5% | Q3 2025 |
| STNE | $17.6M | 2.82% | Not reported | +73.5% | Q2 2024 |
 TGLS | $17.5M | 2.80% | 0.78% | New | Q4 2025 |
 FCFS | $17.4M | 2.80% | 0.25% | New | Q4 2025 |
| SLVM | $16.9M | 2.71% | 0.89% | -36.4% | Q2 2025 |
 EZPW | $16.9M | 2.71% | Not reported | -26.3% | Q4 2023 |
| GGAL | $16.7M | 2.67% | Not reported | Not reported | Q4 2024 |
| CPA | $15.7M | 2.52% | 0.32% | Not reported | Q4 2023 |
| CVGW | $15.2M | 2.44% | 3.92% | New | Q4 2025 |
| TECK | $7.11M | 1.14% | Not reported | New | Q4 2025 |
 VLRS | $6.73M | 1.08% | Not reported | +0.4% | Q3 2025 |
| LILA | $6.72M | 1.08% | Not reported | +21.5% | Q1 2025 |
 TGS | $5.96M | 0.96% | 0.03% | -68.8% | Q1 2025 |
 BIOX | $5.67M | 0.91% | 6.85% | -6.4% | Q4 2023 |
| TEO | $5.26M | 0.84% | Not reported | -72.2% | Q3 2025 |
| AVO | $725K | 0.12% | 0.09% | New | Q4 2025 |
| Q3 2025 | |||||
| SLVM | $24.4M | 5.89% | 1.40% | +238.8% | Q2 2025 |
| SFD | $23M | 5.57% | 0.25% | +25.4% | Q2 2025 |
| EZPW | $22.4M | 5.42% | Not reported | -5.9% | Q4 2023 |
| BBAR | $22.2M | 5.37% | 0.44% | +49.5% | Q1 2024 |
| GDYN | $21.7M | 5.24% | 3.32% | +73.2% | Q4 2023 |
| LILAK | $19.9M | 4.82% | Not reported | -38.4% | Q4 2023 |
| VZLA | $18.7M | 4.52% | 1.45% | Not reported | Q2 2025 |
 URG | $17.8M | 4.31% | 2.73% | -49.3% | Q3 2024 |
| LOMA | $17.5M | 4.22% | 0.41% | +62.8% | Q1 2025 |
| HRL | $17.4M | 4.21% | Not reported | New | Q3 2025 |
| GPRK | $17.3M | 4.17% | 5.29% | New | Q3 2025 |
 TBBB | $16.9M | 4.08% | Not reported | New | Q3 2025 |
| DLO | $16.8M | 4.06% | 0.41% | -23.8% | Q4 2023 |
| CEPU | $16.6M | 4.01% | 0.14% | +1292.6% | Q2 2025 |
| WU | $15.6M | 3.76% | 0.61% | New | Q3 2025 |
| VIST | $13.6M | 3.29% | 0.42% | New | Q3 2025 |
| ACN | $13.6M | 3.29% | 0.01% | New | Q3 2025 |
| STNE | $13M | 3.14% | Not reported | Not reported | Q2 2024 |
| TGS | $12.9M | 3.12% | 0.08% | +142.9% | Q1 2025 |
 PPTA | $12.8M | 3.08% | 0.59% | -37.2% | Q3 2024 |
| TEO | $11.9M | 2.87% | Not reported | New | Q3 2025 |
| IFS | $9.28M | 2.24% | 0.20% | -49.9% | Q1 2025 |
| BIOX | $6.53M | 1.58% | 7.32% | Not reported | Q4 2023 |
 PAAS | $6.26M | 1.51% | 4.93% | New | Q3 2025 |
| BAP | $6.25M | 1.51% | 0.02% | -68.7% | Q2 2024 |
| LILA | $6.21M | 1.50% | Not reported | -47.2% | Q1 2025 |
| VLRS | $5.42M | 1.31% | Not reported | New | Q3 2025 |