Carrhae Capital LLP
- SEC CIK
- 0001555254
- Latest filing
- Jul 15, 2026
Holdings in Q2 2025
Holdings as of Jun 30, 2025, filed Aug 5, 2025. Long positions only; changes compare share counts with Q1 2025.
- Positions
- 25
- +4 vs. Q1 2025
- Portfolio value
- $1.05B
- +$185.1M (+21.5%) vs. Q1 2025
| Security | Class | Shares | Value | % of portfolio | Share change | Action | History |
|---|---|---|---|---|---|---|---|
| EMBJEmbraer S.A. | ADR | 1,973,790 | $112.3M | 10.7% | +1,973,790 | New | History |
| EGOEldorado Gold Corp | COM | 4,514,485 | $91.8M | 8.8% | −2,174,819−32.5% | Reduced | History |
| SESea Ltd | SPONSORD ADS | 412,960 | $66.0M | 6.3% | −138,740−25.1% | Reduced | History |
| BABAAlibaba Group Holding Ltd | ADR | 523,722 | $59.4M | 5.7% | −35,251−6.3% | Reduced | History |
| FCXFreeport-McMoran Inc | Stock | 1,349,063 | $58.5M | 5.6% | +1,349,063 | New | History |
| TSMTaiwan Semiconductor Manufacturing Co Ltd | ADR | 258,001 | $58.4M | 5.6% | +258,001 | New | History |
| MMYTMakeMyTrip Ltd | Stock | 576,586 | $56.5M | 5.4% | +178,641+44.9% | Added | History |
| CPACopa Holdings, S.A. | CL A | 512,143 | $56.3M | 5.4% | −265,786−34.2% | Reduced | History |
| AUAngloGold Ashanti PLC | COM SHS | 1,200,111 | $54.7M | 5.2% | −140,848−10.5% | Reduced | History |
| PDDPDD Holdings Inc. | SPONSORED ADS | 503,595 | $52.7M | 5.0% | +307,158+156.4% | Added | History |
| YUMCYum China Holdings, Inc. | COM | 1,092,990 | $48.9M | 4.7% | +1,092,990 | New | History |
| BAPCredicorp Ltd | COM | 213,806 | $47.8M | 4.6% | +14,931+7.5% | Added | History |
| FNVFranco Nevada Corp | Stock | 274,946 | $45.1M | 4.3% | +139,952+103.7% | Added | History |
| TECKTeck Resources Ltd | CL B | 1,107,431 | $44.7M | 4.3% | −168,379−13.2% | Reduced | History |
| LVSLas Vegas Sands Corp | COM | 961,827 | $41.8M | 4.0% | +961,827 | New | History |
| BEKEKE Holdings Inc. | SPONSORED ADS | 1,361,179 | $24.1M | 2.3% | +1,361,179 | New | History |
| SLViShares Silver Trust | ETF | 656,743 | $21.5M | 2.1% | +79,783+13.8% | Added | History |
| VISTVista Energy, S.A.B. de C.V. | SPONSORED ADS | 400,582 | $19.2M | 1.8% | +400,582 | New | History |
| RNWReNew Energy Global plc | CL A SHS | 2,767,298 | $19.1M | 1.8% | −887,693−24.3% | Reduced | History |
| EDUNew Oriental Education & Technology Group Inc. | SPON ADR | 346,937 | $18.7M | 1.8% | +346,937 | New | History |
| HBMHudbay Minerals Inc. | COM | 1,544,993 | $16.4M | 1.6% | −331,672−17.7% | Reduced | History |
| NXPINXP Semiconductors N.V. | COM | 63,342 | $13.8M | 1.3% | −44,086−41.0% | Reduced | History |
| GDSGDS Holdings Ltd | SPONSORED ADS | 416,903 | $12.7M | 1.2% | +416,903 | New | History |
| EHEHang Holdings Ltd | ADS | 271,700 | $4.72M | 0.5% | +271,700 | New | History |
| ReNew Energy Global plcG7500M120 | *W EXP 08/30/202 | 64,966 | $8.65K | <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 |
|---|---|---|---|
| SLViShares Silver Trust | ETF | – | $119.7M |
| DBX ETF Tr233051879 | XTRACK HRVST CSI | – | $106.4M |
| iShares Tr464287234 | MSCI EMG MKT ETF | $96.2M | – |
Sold out since Q1 2025 (6)
Positions held at the end of Q1 2025 that are gone from this filing.
| Security | Class | Shares in Q1 2025 | Value in Q1 2025 | % of portfolio in Q1 2025 | History |
|---|---|---|---|---|---|
| IBNIcici Bank Ltd | ADR | 2,581,585 | $81.4M | 9.5% | History |
| PBRPetrobras - Petroleo Brasileiro SA | SPONSORED ADR | 4,516,382 | $64.8M | 7.5% | History |
| HDBHDFC Bank Ltd | SPONSORED ADS | 595,900 | $39.6M | 4.6% | History |
| DBX ETF Tr233051879 | XTRACK HRVST CSI | 1,053,785 | $28.0M | 3.3% | – |
| GGBGerdau S.A. | SPON ADR REP PFD | 6,568,703 | $18.7M | 2.2% | History |
| Kraneshares Trust500767306 | CSI CHI INTERNET | 193,593 | $6.76M | 0.8% | – |