# Fourth Sail Capital LP

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1803158. Source: https://holderbook.com/funds/1803158-fourth-sail-capital-lp/

- Reported value: $659.9M
- Positions: 26
- Weight of the ten largest: 60.6%
- Filed: 2026-08-05

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| BRINKS CO | [BCO](https://holderbook.com/stocks/BCO/) | $93.2M | 986,050 | 14.1% | 2 |
| DLOCAL LTD | [DLO](https://holderbook.com/stocks/DLO/) | $51.2M | 3,943,171 | 7.8% | 11 |
| MISSION PRODUCE INC | [AVO](https://holderbook.com/stocks/AVO/) | $46.9M | 3,976,272 | 7.1% | 3 |
| CREDICORP LTD | [BAP](https://holderbook.com/stocks/BAP/) | $46.5M | 119,464 | 7.1% | 1 |
| TERNIUM SA | [TX](https://holderbook.com/stocks/TX/) | $29.0M | 679,328 | 4.4% | 1 |
| HORMEL FOODS CORP | [HRL](https://holderbook.com/stocks/HRL/) | $27.9M | 1,125,162 | 4.2% | 4 |
| METHANEX CORP | [MEOH](https://holderbook.com/stocks/MEOH/) | $27.5M | 595,817 | 4.2% | 2 |
| VISTA ENERGY S.A.B. DE C.V. | [VIST](https://holderbook.com/stocks/VIST/) | $26.5M | 415,100 | 4.0% | 2 |
| SMITHFIELD FOODS INC | [SFD](https://holderbook.com/stocks/SFD/) | $25.9M | 1,067,579 | 3.9% | 5 |
| CENTRAL PUERTO S A | [CEPU](https://holderbook.com/stocks/CEPU/) | $25.3M | 1,704,152 | 3.8% | 5 |
| VIZSLA SILVER CORP | [VZLA](https://holderbook.com/stocks/VZLA/) | $25.0M | 7,579,112 | 3.8% | 5 |
| XP INC | [XP](https://holderbook.com/stocks/XP/) | $24.4M | 1,500,660 | 3.7% | 1 |
| LOMA NEGRA CORP | [LOMA](https://holderbook.com/stocks/LOMA/) | $22.0M | 1,923,486 | 3.3% | 6 |
| SYLVAMO CORP | [SLVM](https://holderbook.com/stocks/SLVM/) | $17.6M | 466,904 | 2.7% | 5 |
| GEOPARK LTD | [GPRK](https://holderbook.com/stocks/GPRK/) | $17.5M | 1,926,723 | 2.7% | 4 |
| CRANE NXT CO | [CXT](https://holderbook.com/stocks/CXT/) | $17.5M | 342,600 | 2.7% | 1 |
| WESTERN UN CO | [WU](https://holderbook.com/stocks/WU/) | $16.3M | 2,120,585 | 2.5% | 1 |
| VULCAN MATLS CO | [VMC](https://holderbook.com/stocks/VMC/) | $16.0M | 54,300 | 2.4% | 1 |
| GRUPO FINANCIERO GALICIA S.A | [GGAL](https://holderbook.com/stocks/GGAL/) | $16.0M | 319,247 | 2.4% | 1 |
| STONECO LTD | [STNE](https://holderbook.com/stocks/STNE/) | $15.9M | 1,465,500 | 2.4% | 1 |
| MARTIN MARIETTA MATLS INC | [MLM](https://holderbook.com/stocks/MLM/) | $15.6M | 27,000 | 2.4% | 1 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $15.5M | 124,700 | 2.4% | 1 |
| PATRIA INVESTMENTS LIMITED | [PAX](https://holderbook.com/stocks/PAX/) | $15.1M | 1,373,995 | 2.3% | 1 |
| TECK RESOURCES LTD | [TECK](https://holderbook.com/stocks/TECK/) | $13.4M | 224,599 | 2.0% | 3 |
| EVE HLDG INC | [EVEX](https://holderbook.com/stocks/EVEX/) | $8.2M | 3,276,673 | 1.2% | 1 |
| COPA HOLDINGS SA | [CPA](https://holderbook.com/stocks/CPA/) | $3.8M | 24,481 | 0.6% | 3 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | -1.1% | +14.8% | -15.9% | 97% |
| Q1 2026 | -5.4% | -4.6% | -0.8% | 100% |
| Q4 2025 | +23.1% | +2.4% | +20.7% | 98% |
| Q3 2025 | +3.9% | +7.8% | -3.9% | 100% |
| Q2 2025 | +10.5% | +10.5% | +0.1% | 100% |
| Q1 2025 | -10.8% | -4.6% | -6.2% | 99% |
| Q4 2024 | +1.4% | +2.1% | -0.7% | 100% |
| Q3 2024 | +2.5% | +5.4% | -3.0% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $659.9M | 26 |
| Q1 2026 | $608.4M | 25 |
| Q4 2025 | $623.4M | 30 |
| Q3 2025 | $413.8M | 28 |
| Q2 2025 | $483.1M | 26 |
| Q1 2025 | $427.3M | 28 |
| Q4 2024 | $336.4M | 21 |
| Q3 2024 | $398.0M | 24 |
| Q2 2024 | $436.3M | 22 |
| Q1 2024 | $335.3M | 23 |
| Q4 2023 | $315.7M | 23 |