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Portfolio (Quarterly) Guide ↗

Carrhae Capital LLP

· CIK 0001555254
13F Portfolio $3.6B AUM 29 positions Filed Jul 15, 2026 EDGAR ↗ ← All Funds
Q2 2026 Q1 2026 · All 9 New 9 Added 10 Reduced 9 Exited
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
1 QQQ PUT INVESCO QQQ TR Financial Services 1,444,000.0 $1.06B 29.36% -1.0M -41.7% $736.40 -3.4%
2 TSM TAIWAN SEMICONDUCTOR MANUFAC Technology 414,556.0 $198.0M 5.47% -144K -25.8% $477.57 -12.5%
3 EMBJ EMBRAER S.A. Industrials 2,029,766.0 $129.5M 3.58% -859K -29.7% $63.80 +18.0%
4 EGO ELDORADO GOLD CORP NEW Basic Materials 3,909,137.0 $121.5M 3.36% -989K -20.2% $31.09 +51.0%
5 ICICI BANK LIMITED 3,496,179.0 $101.5M 2.80% -1.5M -30.6% $29.03
6 ITUB ITAU UNIBANCO HLDG S A Financial Services 9,643,006.0 $78.8M 2.17% -10.8M -52.8% $8.17 -6.9%
7 CPA COPA HOLDINGS SA Industrials 400,262.0 $62.3M 1.72% -118K -22.8% $155.57 -14.8%
8 BABA ALIBABA GROUP HLDG LTD Consumer Cyclical 500,160.0 $48.0M 1.32% -834K -62.5% $95.98 +24.8%
9 TS TENARIS S A Energy 278,311.0 $15.4M 0.43% -59K -17.5% $55.49 -2.9%
10 VNET VNET GROUP INC Technology 1,467,195.0 $11.8M 0.33% -46K -3.0% $8.04 -18.0%

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Technology 30.4%
Consumer Cyclical 17.6%
Industrials 14.2%
Energy 12.3%
Financial Services 12.0%
Basic Materials 9.0%
Consumer Defensive 3.9%
Real Estate 0.7%