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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
+5.38%
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
$867M
AUM Growth
+$304M
Cap. Flow
+$286M
Cap. Flow %
32.98%
Top 10 Hldgs %
79.9%
Holding
28
New
7
Increased
9
Reduced
4
Closed
7

Top Buys

Rank Stock Value
1
BABA icon
Alibaba
BABA
+$64.3M
2
EMBJ
Embraer S.A. ADS
EMBJ
+$27.2M
3
VALE icon
Vale
VALE
+$26.6M
4
EDU icon
New Oriental
EDU
+$25.3M
5
BEKE icon
KE Holdings
BEKE
+$21.1M

Top Sells

Rank Stock Value
1
NTES icon
NetEase
NTES
+$40.2M
2
TSM icon
TSMC
TSM
+$26.1M
3
XP icon
XP
XP
+$25.6M
4
YUMC icon
Yum China
YUMC
+$23.8M
5
RIO icon
Rio Tinto
RIO
+$13.5M

Sector Composition

Rank Sector Weight
1 Materials 21.66%
2 Consumer Discretionary 12.9%
3 Technology 9.56%
4 Consumer Staples 8.45%
5 Financials 7.38%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FXI icon
1
PUT
iShares China Large-Cap ETF
FXI
$4.27B
$183M 21.16%
+7,055,800
New +$185M
EGO icon
2
Eldorado Gold
EGO
$8.4B
$88.7M 10.23%
5,994,078
-99,078
-2% -$1.5M
EEM icon
3
PUT
iShares MSCI Emerging Markets ETF
EEM
$28B
$72.2M 8.33%
+1,694,700
New +$71.1M
BABA icon
4
Alibaba
BABA
$276B
$72.1M 8.32%
1,001,048
+838,652
+516% +$64.3M
IBN icon
5
ICICI Bank
IBN
$109B
$64M 7.38%
2,220,095
+290,713
+15% +$7.79M
TSM icon
6
TSMC
TSM
$2.03T
$50.9M 5.88%
293,014
-171,900
-37% -$26.1M
EMBJ
7
Embraer S.A. ADS
EMBJ
$12.3B
$46.5M 5.36%
1,800,911
+1,005,845
+127% +$27.2M
AU icon
8
AngloGold Ashanti
AU
$39.9B
$41.7M 4.81%
1,658,495
-363,768
-18% -$8.63M
EDU icon
9
New Oriental
EDU
$8.08B
$40.8M 4.7%
524,339
+310,897
+146% +$25.3M
FMX icon
10
Fomento Económico Mexicano
FMX
$43.5B
$32.5M 3.74%
301,496
+95,126
+46% +$11.1M
YMM icon
11
Full Truck Alliance
YMM
$9.64B
$31.9M 3.68%
3,966,866
+588,719
+17% +$5.01M
MMYT icon
12
MakeMyTrip
MMYT
$5.1B
$24.7M 2.85%
293,821
+98,400
+50% +$7.35M
VALE icon
13
Vale
VALE
$62.6B
$24.7M 2.85%
+2,210,904
New +$26.6M
BEKE icon
14
KE Holdings
BEKE
$17.7B
$19.1M 2.2%
+1,348,487
New +$21.1M
HBM icon
15
Hudbay
HBM
$9.67B
$16.7M 1.93%
+1,845,991
New +$16M
FNV icon
16
Franco-Nevada
FNV
$40.6B
$16M 1.84%
134,716
-20,170
-13% -$2.45M
PDD icon
17
Pinduoduo
PDD
$122B
$15M 1.73%
113,079
+17,848
+19% +$2.42M
RNW icon
18
ReNew
RNW
$2.22B
$13.5M 1.55%
2,159,172
+322,593
+18% +$1.94M
SPY icon
19
State Street SPDR S&P 500 ETF Trust
SPY
$783B
$7.67M 0.89%
+14,095
New +$7.38M
QQQ icon
20
Invesco QQQ Trust
QQQ
$445B
$4.92M 0.57%
+10,260
New +$4.61M
RNWWW
21
ReNew Energy Global PLC Warrant
RNWWW
$63K
$35.7K ﹤0.01%
64,966
– –
DLO icon
22
CALL
dLocal
DLO
$4.38B
– –
-400,000
Closed -$5.88M
DLO icon
23
dLocal
DLO
$4.38B
– –
-364,176
Closed -$5.35M
FXI icon
24
CALL
iShares China Large-Cap ETF
FXI
$4.27B
– –
-1,902,500
Closed -$45.8M
NTES icon
25
NetEase
NTES
$81.5B
– –
-388,115
Closed -$40.2M
1
2

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ACM
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GCM
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VI
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JFG
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SL
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SPC
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Carrhae Capital's Q2 2024 Portfolio in Review

As of Q2 2024, Carrhae Capital held 28 positions worth $867M, up 54% from $562M the previous quarter. Its ten largest holdings account for 80% of the portfolio.

Carrhae Capital deployed $286M of net new capital in Q2 2024, opening 7 new positions and adding to 9 existing holdings. Its largest new stake was Vale: 2,210,904 shares worth $24.7M.

By sector, the portfolio is most concentrated in Materials at 22% of assets, down from 29% a quarter earlier, followed by Consumer Discretionary and Technology.

On the sell side, the largest reduction was TSMC, an estimated $26.1M trimmed.

  • Carrhae Capital's largest Q2 2024 buy was Vale: 2,210,904 shares worth $24.7M.
  • Carrhae Capital added most to Alibaba in Q2 2024, an estimated $64.3M increase.
  • Carrhae Capital's biggest Q2 2024 reduction was TSMC, cutting an estimated $26.1M.
  • Carrhae Capital fully exited NetEase in Q2 2024, selling an estimated $40.2M.
  • Carrhae Capital's ten largest holdings make up 80% of its $867M portfolio in Q2 2024.
  • Carrhae Capital opened 7 new positions and closed 7 in Q2 2024.
  • Carrhae Capital's portfolio value rose 54% quarter-over-quarter to $867M.

Based on Carrhae Capital's 13F filing for Q2 2024, filed 9 Aug 2024.