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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
Page 1 of 2  ·  29 positions
# 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 EEM PUT ISHARES TR 8,027,800.0 $549.2M 15.16% NEW $68.41 -1.8%
3 GLD CALL SPDR GOLD TR Financial Services 608,000.0 $224.0M 6.18% +472K +347.7% $368.38 +14.4%
4 TSM TAIWAN SEMICONDUCTOR MANUFAC Technology 414,556.0 $198.0M 5.47% -144K -25.8% $477.57 -12.5%
5 SE SEA LTD Consumer Cyclical 1,466,148.0 $140.5M 3.88% NEW $95.83 +24.3%
6 BABA CALL ALIBABA GROUP HLDG LTD Consumer Cyclical 1,440,800.0 $138.3M 3.82% +1.1M +294.1% $95.98 +24.8%
7 EMBJ EMBRAER S.A. Industrials 2,029,766.0 $129.5M 3.58% -859K -29.7% $63.80 +18.0%
8 EGO ELDORADO GOLD CORP NEW Basic Materials 3,909,137.0 $121.5M 3.36% -989K -20.2% $31.09 +51.0%
9 ICICI BANK LIMITED 3,496,179.0 $101.5M 2.80% -1.5M -30.6% $29.03
10 GDS GDS HLDGS LTD Technology 3,300,419.0 $99.1M 2.74% +1.1M +51.1% $30.03 +8.4%
11 PBR PETROLEO BRASILEIRO S A Energy 5,411,909.0 $87.5M 2.42% NEW $16.16 +9.9%
12 ITUB ITAU UNIBANCO HLDG S A Financial Services 9,643,006.0 $78.8M 2.17% -10.8M -52.8% $8.17 -6.9%
13 GGAL GRUPO FINANCIERO GALICIA S.A Financial Services 1,360,220.0 $68.1M 1.88% NEW $50.03 -12.2%
14 KWEB CALL KRANESHARES TRUST 2,691,600.0 $65.9M 1.82% +832K +44.8% $24.47 +7.4%
15 ASML ASML HLDG NV Technology 32,056.0 $63.8M 1.76% NEW $1989.44 -12.3%
16 USO PUT UNITED STS OIL FD LP Financial Services 596,800.0 $63.5M 1.75% $106.44 +19.6%
17 CPA COPA HOLDINGS SA Industrials 400,262.0 $62.3M 1.72% -118K -22.8% $155.57 -14.8%
18 ANGLOGOLD ASHANTI PLC 756,610.0 $61.2M 1.69% +504K +199.1% $80.89
19 PPC PILGRIMS PRIDE CORP Consumer Defensive 1,856,460.0 $52.2M 1.44% NEW $28.11 +11.3%
20 BABA ALIBABA GROUP HLDG LTD Consumer Cyclical 500,160.0 $48.0M 1.32% -834K -62.5% $95.98 +24.8%
Page 1 of 2  ·  29 positions

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%