Carrhae Capital LLP 13F holdings, Q1 2025
Holdings as of March 31, 2025 · filings on SEC EDGAR · latest filing →
Carrhae Capital LLP disclosed 21 US equity positions worth $860.4m in its Q1 2025 13F filing. The largest position was EGO at 13.1% of the reported book, followed by IBN and BABA. Against the Q4 2024 filing, it opened 9 new positions, added to 8 and reduced 2 among the top 21 holdings.
What did Carrhae Capital LLP own in Q1 2025? Top 21 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q4 2024 |
|---|---|---|---|---|---|---|---|
| 1 | EGO ELDORADO GOLD CORP NEW | Basic Materials | 13.1% | $112.5m | 6,689,304 | 11% | added |
| 2 | IBN ICICI BANK LIMITED | Financial Services | 9.5% | $81.4m | 2,581,585 | 47% | added |
| 3 | BABA ALIBABA GROUP HLDG LTD | Consumer Cyclical | 8.6% | $73.9m | 558,973 | – | new |
| 4 | SE SEA LTD | Consumer Cyclical | 8.4% | $72.0m | 551,700 | 16% | added |
| 5 | COPA HOLDINGS SA | 8.4% | $71.9m | 777,929 | 11% | added | |
| 6 | PBR PETROLEO BRASILEIRO SA PETRO | Energy | 7.5% | $64.8m | 4,516,382 | – | new |
| 7 | AU ANGLOGOLD ASHANTI PLC | Basic Materials | 5.8% | $49.8m | 1,340,959 | -61% | reduced |
| 8 | TECK TECK RESOURCES LTD | Basic Materials | 5.4% | $46.5m | 1,275,810 | – | new |
| 9 | HDB HDFC BANK LTD | Financial Services | 4.6% | $39.6m | 595,900 | – | new |
| 10 | MAKEMYTRIP LIMITED MAURITIUS | 4.5% | $39.0m | 397,945 | 89% | added | |
| 11 | BAP CREDICORP LTD | Financial Services | 4.3% | $37.0m | 198,875 | 389% | added |
| 12 | ASHR DBX ETF TR | 3.3% | $28.0m | 1,053,785 | 108% | added | |
| 13 | PDD PDD HOLDINGS INC | Consumer Cyclical | 2.7% | $23.2m | 196,437 | 226% | added |
| 14 | RENEW ENERGY GLOBAL PLC | 2.5% | $21.5m | 3,654,991 | 0% | held | |
| 15 | FNV FRANCO NEV CORP | Basic Materials | 2.5% | $21.3m | 134,994 | -35% | reduced |
| 16 | NXPI NXP SEMICONDUCTORS N V | Technology | 2.4% | $20.4m | 107,428 | – | new |
| 17 | GGB GERDAU SA | Basic Materials | 2.2% | $18.7m | 6,568,703 | – | new |
| 18 | SLV ISHARES SILVER TR | 2.1% | $17.9m | 576,960 | – | new | |
| 19 | HBM HUDBAY MINERALS INC | Basic Materials | 1.7% | $14.2m | 1,876,665 | – | new |
| 20 | KWEB KRANESHARES TRUST | 0.8% | $6.8m | 193,593 | – | new | |
| 21 | RENEW ENERGY GLOBAL PLC | 0.0% | $6.3k | 64,966 | 0% | held |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.