RWC ASSET ADVISORS (US) LLC Diversified Active

CIK: 0001638081 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $527,864 (100.0% shares, 0.0% debt)

Holdings (13)

New Positions (2)

PDD PDD HOLDINGS INC 0.5%

Value ($000) $2,726 Shares 24,040 Est. Cost $113.39 Unrealized —

AERO GRUPO AEROMEXICO SAB DE CV 0.4%

Value ($000) $2,029 Shares 92,412 Est. Cost $21.96 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PDD	PDD HOLDINGS INC	24,040	$2,726	0.5%	$113.39	—	SPONSORED ADS	722304102
AERO	GRUPO AEROMEXICO SAB DE CV	92,412	$2,029	0.4%	$21.96	—	SPONSORED ADS	40054J109

Increased Positions (5)

SQM SOCIEDAD QUIMICA Y MINERA DE 19.1%

Value ($000) $100,640 (+90.0%) Shares 1,462,794 (+18.7%) Est. Cost $45.75 Unrealized —

EMBJ EMBRAER S.A. 15.1%

Value ($000) $79,758 (+70.6%) Shares 1,239,061 (+60.2%) Est. Cost $57.09 Unrealized —

VALE VALE S A 16.1%

Value ($000) $85,005 (+30.8%) Shares 6,523,762 (+9.0%) Est. Cost $11.04 Unrealized —

MELI MERCADOLIBRE INC 9.4%

Value ($000) $49,567 (+39.3%) Shares 24,608 (+61.6%) Est. Cost $1535.93 Unrealized +36.8%

GFI GOLD FIELDS LTD 14.3%

Value ($000) $75,570 (+20.9%) Shares 1,730,879 (+16.2%) Est. Cost $16.39 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SQM	SOCIEDAD QUIMICA Y MINERA DE	1,462,794 (+18.7%)	$100,640 (+90.0%)	19.1%	$45.75	—	SPON ADR SER B	833635105
EMBJ	EMBRAER S.A.	1,239,061 (+60.2%)	$79,758 (+70.6%)	15.1%	$57.09	—	SPONSORED ADS	29082A107
VALE	VALE S A	6,523,762 (+9.0%)	$85,005 (+30.8%)	16.1%	$11.04	—	SPONSORED ADS	91912E105
MELI	MERCADOLIBRE INC	24,608 (+61.6%)	$49,567 (+39.3%)	9.4%	$1535.93	+36.8%	COM	58733R102
GFI	GOLD FIELDS LTD	1,730,879 (+16.2%)	$75,570 (+20.9%)	14.3%	$16.39	—	SPONSORED ADR	38059T106

Exited Positions (6)

NIO NIO INC 15.1%

Value ($000) $79,761 Shares 10,467,320 Est. Cost $7.62 Unrealized —

LI LI AUTO INC 7.9%

Value ($000) $41,521 Shares 1,638,544 Est. Cost $27.86 Unrealized —

PBR PETROLEO BRASILEIRO SA PETRO 3.6%

Value ($000) $19,225 Shares 1,518,583 Est. Cost $14.60 Unrealized —

CPNG COUPANG INC 3.2%

Value ($000) $16,952 Shares 526,455 Est. Cost $25.62 Unrealized +11.0%

YPF YPF SOCIEDAD ANONIMA 0.5%

Value ($000) $2,477 Shares 101,982 Est. Cost $20.06 Unrealized —

GTE GRAN TIERRA ENERGY INC 0.2%

Value ($000) $972 Shares 226,147 Est. Cost $6.62 Unrealized -36.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NIO	NIO INC	10,467,320	$79,761	15.1%	$7.62	—	—	62914V106
LI	LI AUTO INC	1,638,544	$41,521	7.9%	$27.86	—	—	50202M102
PBR	PETROLEO BRASILEIRO SA PETRO	1,518,583	$19,225	3.6%	$14.60	—	—	71654V408
CPNG	COUPANG INC	526,455	$16,952	3.2%	$25.62	+11.0%	—	22266T109
YPF	YPF SOCIEDAD ANONIMA	101,982	$2,477	0.5%	$20.06	—	—	984245100
GTE	GRAN TIERRA ENERGY INC	226,147	$972	0.2%	$6.62	-36.2%	—	38500T200

Decreased Positions (3)

BZ KANZHUN LIMITED 5.8%

Value ($000) $30,756 (-43.8%) Shares 1,509,151 (-35.6%) Est. Cost $23.36 Unrealized —

BABA ALIBABA GROUP HLDG LTD 12.5%

Value ($000) $66,012 (-23.5%) Shares 450,350 (-6.7%) Est. Cost $81.68 Unrealized —

GGAL GRUPO FINANCIERO GALICIA S.A 5.8%

Value ($000) $30,449 (-28.3%) Shares 564,498 (-63.3%) Est. Cost $27.33 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BZ	KANZHUN LIMITED	1,509,151 (-35.6%)	$30,756 (-43.8%)	5.8%	$23.36	—	SPONSORED ADS	48553T106
BABA	ALIBABA GROUP HLDG LTD	450,350 (-6.7%)	$66,012 (-23.5%)	12.5%	$81.68	—	SPONSORED ADS	01609W102
GGAL	GRUPO FINANCIERO GALICIA S.A	564,498 (-63.3%)	$30,449 (-28.3%)	5.8%	$27.33	—	SPONSORED ADR	399909100

Unchanged Positions (3)

LOMA LOMA NEGRA C I A S A MTN 14 0.4%

Value ($000) $1,869 Shares 144,315 Est. Cost $6.56 Unrealized —

CAAP CORPORACION AMER ARPTS S A 0.4%

Value ($000) $2,141 Shares 82,327 Est. Cost $14.37 Unrealized +55.8%

SCCO SOUTHERN COPPER CORP 0.3%

Value ($000) $1,341 Shares 9,348 Est. Cost $46.42 Unrealized +186.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LOMA	LOMA NEGRA C I A S A MTN 14	144,315	$1,869	0.4%	$6.56	—	SPONSORED ADS	54150E104
CAAP	CORPORACION AMER ARPTS S A	82,327	$2,141	0.4%	$14.37	+55.8%	COM	L1995B107
SCCO	SOUTHERN COPPER CORP	9,348	$1,341	0.3%	$46.42	+186.0%	COM	84265V105