Carrhae Capital LLP
- SEC CIK
- 0001555254
- Latest filing
- Jul 15, 2026
Holdings in Q1 2025
Holdings as of Mar 31, 2025, filed May 2, 2025. Long positions only; changes compare share counts with Q4 2024.
- Positions
- 21
- −1 vs. Q4 2024
- Portfolio value
- $860.4M
- +$13.9M (+1.6%) vs. Q4 2024
| Security | Class | Shares | Value | % of portfolio | Share change | Action | History |
|---|---|---|---|---|---|---|---|
| EGOEldorado Gold Corp | COM | 6,689,304 | $112.5M | 13.1% | +648,574+10.7% | Added | History |
| IBNIcici Bank Ltd | ADR | 2,581,585 | $81.4M | 9.5% | +830,538+47.4% | Added | History |
| BABAAlibaba Group Holding Ltd | ADR | 558,973 | $73.9M | 8.6% | +558,973 | New | History |
| SESea Ltd | SPONSORD ADS | 551,700 | $72.0M | 8.4% | +77,028+16.2% | Added | History |
| CPACopa Holdings, S.A. | CL A | 777,929 | $71.9M | 8.4% | +76,062+10.8% | Added | History |
| PBRPetrobras - Petroleo Brasileiro SA | SPONSORED ADR | 4,516,382 | $64.8M | 7.5% | +4,516,382 | New | History |
| AUAngloGold Ashanti PLC | COM SHS | 1,340,959 | $49.8M | 5.8% | −2,118,234−61.2% | Reduced | History |
| TECKTeck Resources Ltd | CL B | 1,275,810 | $46.5M | 5.4% | +1,275,810 | New | History |
| HDBHDFC Bank Ltd | SPONSORED ADS | 595,900 | $39.6M | 4.6% | +595,900 | New | History |
| MMYTMakeMyTrip Ltd | Stock | 397,945 | $39.0M | 4.5% | +186,995+88.6% | Added | History |
| BAPCredicorp Ltd | COM | 198,875 | $37.0M | 4.3% | +158,206+389.0% | Added | History |
| DBX ETF Tr233051879 | XTRACK HRVST CSI | 1,053,785 | $28.0M | 3.3% | +547,785+108.3% | Added | – |
| PDDPDD Holdings Inc. | SPONSORED ADS | 196,437 | $23.2M | 2.7% | +136,217+226.2% | Added | History |
| RNWReNew Energy Global plc | CL A SHS | 3,654,991 | $21.5M | 2.5% | 00.0% | Unchanged | History |
| FNVFranco Nevada Corp | Stock | 134,994 | $21.3M | 2.5% | −71,424−34.6% | Reduced | History |
| NXPINXP Semiconductors N.V. | COM | 107,428 | $20.4M | 2.4% | +107,428 | New | History |
| GGBGerdau S.A. | SPON ADR REP PFD | 6,568,703 | $18.7M | 2.2% | +6,568,703 | New | History |
| SLViShares Silver Trust | ETF | 576,960 | $17.9M | 2.1% | +576,960 | New | History |
| HBMHudbay Minerals Inc. | COM | 1,876,665 | $14.2M | 1.7% | +1,876,665 | New | History |
| Kraneshares Trust500767306 | CSI CHI INTERNET | 193,593 | $6.76M | 0.8% | +193,593 | New | – |
| ReNew Energy Global plcG7500M120 | *W EXP 08/30/202 | 64,966 | $6.26K | <0.1% | 00.0% | Unchanged | – |
Options (3)
Puts and calls in the same filing. Amounts are the market value of the underlying shares, which is what 13F reports.
| Security | Class | Puts | Calls |
|---|---|---|---|
| iShares Tr464287234 | MSCI EMG MKT ETF | $339.3M | – |
| DBX ETF Tr233051879 | XTRACK HRVST CSI | – | $139.9M |
| iShares Tr464287184 | CHINA LG-CAP ETF | $27.4M | – |
Sold out since Q4 2024 (10)
Positions held at the end of Q4 2024 that are gone from this filing.
| Security | Class | Shares in Q4 2024 | Value in Q4 2024 | % of portfolio in Q4 2024 | History |
|---|---|---|---|---|---|
| EMBJEmbraer S.A. | ADR | 2,670,740 | $98.0M | 11.6% | History |
| TSMTaiwan Semiconductor Manufacturing Co Ltd | ADR | 383,886 | $75.8M | 9.0% | History |
| EDUNew Oriental Education & Technology Group Inc. | SPON ADR | 1,042,689 | $66.9M | 7.9% | History |
| FMXMexican Economic Development Inc | SPON ADR UNITS | 543,167 | $46.4M | 5.5% | History |
| BEKEKE Holdings Inc. | SPONSORED ADS | 1,745,724 | $32.2M | 3.8% | History |
| JDJD.com, Inc. | SPON ADS CL A | 827,951 | $28.7M | 3.4% | History |
| YUMCYum China Holdings, Inc. | COM | 489,307 | $23.6M | 2.8% | History |
| TSTenaris SA | SPONSORED ADS | 437,806 | $16.5M | 2.0% | History |
| CXCemex SAB de CV | SPON ADR NEW | 2,215,050 | $12.5M | 1.5% | History |
| SPYSPDR S&P 500 ETF Trust | ETF | 20,931 | $12.3M | 1.4% | History |