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Carrhae Capital Portfolio holdings

AUM $3.62B
1-Year Est. Return 34.35%
This Fund
S&P 500
This Quarter Est. Return
+10.93%
1 Year Est. Return
+34.35%
3 Year Est. Return
+159.37%
5 Year Est. Return
+138.22%
10 Year Est. Return
+750.7%
AUM
$315M
AUM Growth
-$157M
Cap. Flow
-$185M
Cap. Flow %
-58.63%
Top 10 Hldgs %
79.07%
Holding
32
New
8
Increased
6
Reduced
6
Closed
11

Top Buys

Rank Stock Value
1
TCOM icon
Trip.com Group
TCOM
+$25.3M
2
AU icon
AngloGold Ashanti
AU
+$17.3M
3
IBN icon
ICICI Bank
IBN
+$14.6M
4
SLB icon
SLB Ltd
SLB
+$12.1M
5
GGB icon
Gerdau
GGB
+$7.44M

Top Sells

Rank Stock Value
1
BABA icon
Alibaba
BABA
+$22.6M
2
MELI icon
Mercado Libre
MELI
+$19M
3
EGO icon
Eldorado Gold
EGO
+$15.2M
4
KOS icon
Kosmos Energy
KOS
+$12.9M
5
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$12.5M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 25.73%
2 Materials 24.88%
3 Energy 16.92%
4 Financials 13.09%
5 Technology 9.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LQD icon
26
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.5B
– –
-118,489
Closed -$12.5M
MELI icon
27
Mercado Libre
MELI
$94.4B
– –
-22,421
Closed -$19M
SHEL icon
28
Shell
SHEL
$239B
– –
-177,005
Closed -$10.1M
SHY icon
29
iShares 1-3 Year Treasury Bond ETF
SHY
$25.4B
– –
-81,121
Closed -$6.58M
SPY icon
30
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$783B
– –
-413,500
Closed -$158M
YUMC icon
31
Yum China
YUMC
$15.6B
– –
-103,268
Closed -$5.64M
CIAN
32
DELISTED
Cian PLC American Depositary Shares, each representing one Ordinary Share
CIAN
– –
-88,441
Closed -$85.8K
1
2

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Carrhae Capital's Q1 2023 Portfolio in Review

As of Q1 2023, Carrhae Capital held 32 positions worth $315M, down 33% from $472M the previous quarter. Its ten largest holdings account for 79% of the portfolio.

Carrhae Capital withdrew a net $185M in Q1 2023, closing 11 positions and reducing 6 holdings. Its most notable exit was Mercado Libre, an estimated $19M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 26% of assets, up from 19% a quarter earlier, followed by Materials and Energy.

Against the trend, Carrhae Capital opened a new position in Trip.com Group worth $25.7M.

  • Carrhae Capital's largest Q1 2023 buy was Trip.com Group: 681,258 shares worth $25.7M.
  • Carrhae Capital added most to ICICI Bank in Q1 2023, an estimated $14.6M increase.
  • Carrhae Capital's biggest Q1 2023 reduction was Alibaba, cutting an estimated $22.6M.
  • Carrhae Capital fully exited Mercado Libre in Q1 2023, selling an estimated $19M.
  • Carrhae Capital's ten largest holdings make up 79% of its $315M portfolio in Q1 2023.
  • Carrhae Capital opened 8 new positions and closed 11 in Q1 2023.
  • Carrhae Capital's portfolio value fell 33% quarter-over-quarter to $315M.

Based on Carrhae Capital's 13F filing for Q1 2023, filed 27 Nov 2024.