Carrhae Capital LLP: 13F holdings, Q2 2026
Hedge fund · SEC EDGAR filings (CIK 1555254) · Explore on the interactive board
Carrhae Capital LLP disclosed 23 US equity positions worth $1.5bn in its Q2 2026 13F filing (holdings as of June 30, 2026, filed July 15, 2026). Its largest position is TSM at 13.0% of the reported book, followed by SE, EMBJ. The top ten holdings are 71.7% of the book, and the portfolio behaves like about 15 equal-weight positions. Versus the prior filing it opened 8 new positions, added to 6, reduced 9 and exited 6. Note: this manager's most recent filing is 3934 quarters behind the newest quarter on file, so these figures are history rather than current positioning.
What does Carrhae Capital LLP own? Top holdings as of June 30, 2026
Change is measured in shares against the previous filing (Q1 2026), so price moves do not read as decisions. This quarter: 8 new, 6 added, 9 reduced, 6 exited.
| # | Stock | Sector | Weight | Value | Shares | Δ shares | Action |
|---|---|---|---|---|---|---|---|
| 1 | TSM TAIWAN SEMICONDUCTOR MANUFAC | Technology | 13.0% | $198.0m | 414,556 | -26% | reduced |
| 2 | SE SEA LTD | Consumer Cyclical | 9.3% | $140.5m | 1,466,148 | – | new |
| 3 | EMBJ EMBRAER S.A. | Industrials | 8.5% | $129.5m | 2,029,766 | -30% | reduced |
| 4 | EGO ELDORADO GOLD CORP NEW | Basic Materials | 8.0% | $121.5m | 3,909,137 | -20% | reduced |
| 5 | IBN ICICI BANK LIMITED | Financial Services | 6.7% | $101.5m | 3,496,179 | -31% | reduced |
| 6 | GDS GDS HLDGS LTD | Technology | 6.5% | $99.1m | 3,300,419 | 51% | added |
| 7 | PBR PETROLEO BRASILEIRO S A | Energy | 5.8% | $87.5m | 5,411,909 | – | new |
| 8 | ITUB ITAU UNIBANCO HLDG S A | Financial Services | 5.2% | $78.8m | 9,643,006 | -53% | reduced |
| 9 | GGAL GRUPO FINANCIERO GALICIA S.A | Financial Services | 4.5% | $68.1m | 1,360,220 | – | new |
| 10 | ASML ASML HLDG NV | Technology | 4.2% | $63.8m | 32,056 | – | new |
| 11 | COPA HOLDINGS SA | 4.1% | $62.3m | 400,262 | -23% | reduced | |
| 12 | AU ANGLOGOLD ASHANTI PLC | Basic Materials | 4.0% | $61.2m | 756,610 | 199% | added |
| 13 | PPC PILGRIMS PRIDE CORP | Consumer Defensive | 3.4% | $52.2m | 1,856,460 | – | new |
| 14 | BABA ALIBABA GROUP HLDG LTD | Consumer Cyclical | 3.2% | $48.0m | 500,160 | -63% | reduced |
| 15 | NTES NETEASE COM INC | Communication Services | 2.6% | $39.3m | 306,577 | 343% | added |
| 16 | SLB SLB LIMITED | Energy | 2.6% | $38.8m | 834,322 | 50% | added |
| 17 | CPNG COUPANG INC | Consumer Cyclical | 2.5% | $38.2m | 2,198,457 | – | new |
| 18 | HAL HALLIBURTON CO | Energy | 1.6% | $24.7m | 726,193 | 21% | added |
| 19 | BBD BANCO BRADESCO S A | Financial Services | 1.0% | $15.6m | 4,484,271 | – | new |
| 20 | TS TENARIS S A | Energy | 1.0% | $15.4m | 278,311 | -18% | reduced |
| 21 | MAKEMYTRIP LIMITED MAURITIUS | 0.8% | $11.8m | 221,385 | 47% | added | |
| 22 | VNET VNET GROUP INC | Technology | 0.8% | $11.8m | 1,467,195 | -3% | reduced |
| 23 | BEKE KE HLDGS INC | Real Estate | 0.7% | $10.1m | 697,760 | – | new |
What did Carrhae Capital LLP sell? Positions exited since the previous filing
| Stock | Prior weight | Prior value |
|---|---|---|
| PDD PDD HOLDINGS INC | 35.0% | $52.7m |
| JBS JBS N.V. | 30.4% | $45.7m |
| HSAI HESAI GROUP | 19.9% | $30.0m |
| ARCELORMITTAL SA LUXEMBOURG | 6.8% | $10.2m |
| VIST VISTA ENERGY S.A.B. DE C.V. | 4.0% | $6.0m |
| RENEW ENERGY GLOBAL PLC | 3.9% | $5.8m |
Sector mix
| Sector | Weight |
|---|---|
| Technology | 24.6% |
| Financial Services | 17.4% |
| Consumer Cyclical | 14.9% |
| Basic Materials | 12.0% |
| Energy | 11.0% |
| Industrials | 8.5% |
Sectors cover positions whose ticker resolved to a sector; the remainder is unclassified, not cash.
Filing history
How concentrated is Carrhae Capital LLP's portfolio?
Across every quarter Carrhae Capital LLP has filed, its median largest position is 13.2% of the book and its median top-ten weight is 79.7%, which WhaleCreep classifies as concentrated (the gate is a median largest position of 5%). Of 6.0 completed holding spells, the median lasted 1.0 quarters; 23.0 positions are still open and their final length is unknown.