Northcape Capital Portfolio Concentration Analysis: June 2026 Holdings

Northcape Capital Pty Ltd's portfolio as of June 30, 2026, exhibits notable concentration across its holdings. The fund maintains positions in seven distinct stocks, with five accounting for over half of the total assets (58.94%) based on their weight within the portfolio.

The largest position by value is held in MercadoLibre Inc (MELI), a leading e-commerce platform company operating primarily in Latin America. This stake represents approximately 23.17% of Northcape Capital Pty Ltd's total assets, making it a significant component of the portfolio.

Next in line are HDFC Bank Ltd (HDB) and ITAU Unibanco Holding SA (ITUB), both prominent players within the Financial Services sector. HDB allocation stands at 17.34%, while ITUB holds 9.78% of the portfolio's value.

FOMENTO Economic Mexicano S (FMX) is another substantial holding, representing about 7.74% of Northcape Capital Pty Ltd's assets and falling under the Consumer Defensive sector classification. GRUPO Aeropuerto del Central Norte (PAC), involved in the aviation industry, allocates around 5.93% to the portfolio.

The remaining position is S&P Global Inc (SPGI) at a relatively small allocation of just 0.27%. Collectively, these top five holdings account for approximately 63.95% of Northcape Capital Pty Ltd's total portfolio value as reported on InsiderSet.

Northcape Capital Pty Ltd's sector allocation analysis reveals a strong focus on Financial Services, which currently accounts for 41.33% of the portfolio value. Consumer Cyclical is another heavily represented sector at 34.97%, followed by Consumer Defensive with an allocation of 11.68%. Industrials and Communication Services round out the allocations.

Several holdings show significant changes in their share count from the previous period, including ITUB (-31.4%), HDB (+6.07%), TLK (+4.51), FMX (-9.15%), MELI (-17.41%), and PAC (-9.13%). These shifts indicate active management of these concentrated positions.