Carrhae Capital’s SPDR S&P 500 ETF Trust SPY Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Trade Value	Portfolio Weight	Portfolio Position
2025 Q1	–	Sell	-20,931	Closed	-$12.3M	–	31
2024 Q4	$12.3M	Sell	20,931 -5,606	-21%	-$3.29M	1.03%	19
2024 Q3	$15.2M	Buy	26,537 +12,442	+88%	+$7.14M	1.74%	20
2024 Q2	$7.67M	Buy	+14,095	New	+$7.67M	0.89%	17
2023 Q1	–	Hold	0	–	–	–	29
2022 Q4	–	Hold	0	–	–	–	26
2022 Q2	–	Hold	0	–	–	–	21
2022 Q1	–	Hold	0	–	–	–	19
2021 Q4	–	Hold	0	–	–	–	17
2021 Q3	–	Hold	0	–	–	–	14
2021 Q2	–	Hold	0	–	–	–	19
2021 Q1	–	Hold	0	–	–	–	15
2020 Q4	–	Hold	0	–	–	–	9
2020 Q3	–	Hold	0	–	–	–	11
2020 Q2	–	Sell	-29,456	Closed	-$7.59M	–	14
2020 Q1	$7.59M	Buy	+29,456	New	+$7.59M	6.14%	5
2019 Q4	–	Hold	0	–	–	–	10
2019 Q3	–	Sell	-56,495	Closed	-$16.6M	–	15
2019 Q2	$16.6M	Buy	56,495 +43,168	+324%	+$12.6M	5.18%	7
2019 Q1	$3.76M	Buy	+13,327	New	+$3.76M	1.58%	9
2018 Q4	–	Hold	0	–	–	–	11
2018 Q3	–	Hold	0	–	–	–	8
2018 Q2	–	Hold	0	–	–	–	10
2018 Q1	–	Hold	0	–	–	–	11
2017 Q4	–	Hold	0	–	–	–	13
2017 Q3	–	Hold	0	–	–	–	11
2017 Q2	–	Hold	0	–	–	–	6
2017 Q1	–	Sell	-23,800	Closed	-$5.32M	–	10
2016 Q4	$5.32M	Buy	+23,800	New	+$5.32M	2.26%	9
2016 Q2	–	Hold	0	–	–	–	17
2016 Q1	–	Hold	0	–	–	–	9
2015 Q3	–	Hold	0	–	–	–	17
2015 Q2	–	Sell	-23,500	Closed	-$4.85M	–	15
2015 Q1	$4.85M	Buy	+23,500	New	+$4.85M	3.11%	5
2014 Q4	–	Hold	0	–	–	–	7