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Carrhae Capital Portfolio holdings
AUM
$3.1B
Turnover
52.5%
1-Year Est. Return
20.09%
This Fund
S&P 500
This Quarter Est. Return
+6.9%
1 Year Est. Return
+20.09%
3 Year Est. Return
+182.3%
5 Year Est. Return
+183.2%
10 Year Est. Return
+744.02%
AUM
$3.1B
AUM Growth
-$519M
(-14%)
Cap. Flow
-$29M
Cap. Flow % of AUM
Cap. Flow %
-0.93%
Top 10 Holdings %
Top 10 Hldgs %
74.76%
Holding
40
New
11
Increased
8
Reduced
10
Closed
10
Avg Time Held
Equity + Options
0.7
years
Top 10 Avg Time Held
Equity + Options
0.8
years
Top 20 Avg Time Held
Equity + Options
0.8
years
Avg Time Held Equity only
0.8
years
Top 10 Avg Time Held Equity only
1
year
Top 20 Avg Time Held Equity only
0.7
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$126M |
| 2 |
Itaú Unibanco
ITUB
|
+$97.4M |
| 3 |
BP
BP
|
+$57.8M |
| 4 |
ASE Group
ASX
|
+$57.4M |
| 5 |
Shell
SHEL
|
+$51.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Embraer S.A. ADS
EMBJ
|
+$116M |
| 2 |
Galicia Financial Group
GGAL
|
+$68.1M |
| 3 |
ASML
ASML
|
+$63.8M |
| 4 |
AngloGold Ashanti
AU
|
+$61.2M |
| 5 |
Pilgrim's Pride
PPC
|
+$52.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 51.32% |
| 2 | Technology | 14.59% |
| 3 | Consumer Discretionary | 9.89% |
| 4 | Financials | 8.03% |
| 5 | Energy | 7.35% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
Tenaris
TS
$30.5B
| $16.1M | 0.52% |
291,886
+13,575
| +5% | +$753K |
2026 Q1
2 quarters
|
|
27
MakeMyTrip
MMYT
$3.99B
| $16M | 0.52% |
339,484
+118,099
| +53% | +$6.53M |
2024 Q1
10 quarters
|
|
28
ArcelorMittal
MT
$45.3B
| $14.8M | 0.48% |
+222,440
| New | +$15.8M |
2026 Q3
0 quarters
|
|
29
Halliburton
HAL
$29.6B
| $14.1M | 0.45% |
442,069
-284,124
| -39% | -$9.7M |
2026 Q1
2 quarters
|
|
30
VNET Group
VNET
$1.06B
| $8.14M | 0.26% |
1,467,195
| – | – |
2026 Q1
2 quarters
|
|
|
31
ASML
ASML
$641B
| – | – |
-32,056
| Closed | -$63.8M | – |
|
|
32
AngloGold Ashanti
AU
$44.1B
| – | – |
-756,610
| Closed | -$61.2M | – |
|
33
Banco Bradesco
BBD
$30.5B
| – | – |
-4,484,271
| Closed | -$15.6M | – |
|
34
KE Holdings
BEKE
$19B
| – | – |
-697,760
| Closed | -$10.1M | – |
|
35
Coupang
CPNG
$25.4B
| – | – |
-2,198,457
| Closed | -$38.2M | – |
|
|
36
Galicia Financial Group
GGAL
$5.44B
| – | – |
-1,360,220
| Closed | -$68.1M | – |
|
37
NetEase
NTES
$72B
| – | – |
-306,577
| Closed | -$39.3M | – |
|
|
38
Pilgrim's Pride
PPC
$6.28B
| – | – |
-1,856,460
| Closed | -$52.2M | – |
|
39
SLB Ltd
SLB
$79.3B
| – | – |
-834,322
| Closed | -$38.8M | – |
|
40
PUT
United States Oil Fund
USO
$1.85B
| – | – |
-596,800
| Closed | -$63.5M | – |
|
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Carrhae Capital's Q3 2026 Portfolio in Review
As of Q3 2026, Carrhae Capital held 40 positions worth $3.1B, down 14% from $3.62B the previous quarter. Its ten largest holdings account for 75% of the portfolio.
Carrhae Capital's Q3 2026 filing shows 11 new, 8 increased, 10 reduced and 10 closed positions. Its largest new stake was BP: 1,347,372 shares worth $59.3M. The largest sale was Embraer S.A. ADS, an estimated $116M.
By sector, the portfolio is most concentrated in Miscellaneous at 51% of assets, down from 58% a quarter earlier, followed by Technology and Consumer Discretionary.
- Carrhae Capital's largest Q3 2026 buy was BP: 1,347,372 shares worth $59.3M.
- Carrhae Capital added most to Alibaba in Q3 2026, an estimated $126M increase.
- Carrhae Capital's biggest Q3 2026 reduction was Embraer S.A. ADS, cutting an estimated $116M.
- Carrhae Capital fully exited Galicia Financial Group in Q3 2026, selling an estimated $68.1M.
- Carrhae Capital's ten largest holdings make up 75% of its $3.1B portfolio in Q3 2026.
- Carrhae Capital opened 11 new positions and closed 10 in Q3 2026.
- Carrhae Capital's portfolio value fell 14% quarter-over-quarter to $3.1B.
Based on Carrhae Capital's 13F filing for Q3 2026, filed 20 Oct 2026.