NC

Nipun Capital Portfolio holdings

AUM $170M

This Quarter Return

+4.39%

1 Year Return

+13.61%

3 Year Return

–

5 Year Return

–

10 Year Return

–

AUM

$170M

AUM Growth

+$15.6M (+10%)

Cap. Flow

+$10.3M

Cap. Flow % of AUM

6.02%

Top 10 Holdings %Top 10 Hldgs %

100%

Holding

10

New

2

Increased

3

Reduced

1

Closed

–

Top Buys

1	iShares MSCI India ETF INDA	$7.03M
2	Pinduoduo PDD	$2.97M
3	Intercorp Financial Services IFS	$841K
4	KT KT	$276K
5	Karooooo KARO	$242K

Top Sells

1

iShares MSCI China ETF

$1.1M

Sector Composition

1	Consumer Discretionary	2.83%
2	Technology	0.98%
3	Financials	0.72%
4	Communication Services	0.16%

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
1	1 iShares MSCI India ETF INDA $10B	$90.1M	52.84%	1,749,945 +136,600	+8%	+$7.03M
2	2 iShares MSCI China ETF MCHI $6.85B	$39.1M	22.91%	717,900 -20,300	-3%	-$1.1M
3	3 iShares China Large-Cap ETF FXI $6.53B	$17.9M	10.5%	499,350	–	–
4	4 iShares MSCI India Small-Cap ETF SMIN $923M	$10.5M	6.14%	153,854	–	–
5	5 Vanguard FTSE Emerging Markets ETF VWO $94.1B	$4.99M	2.93%	110,200	–	–
6	6 Pinduoduo PDD $168B	$4.83M	2.83%	40,800 +25,100	+160%	+$2.97M
7	7 TSMC TSM $1.27T	$1.43M	0.84%	8,600	–	–
8	8 Intercorp Financial Services IFS $4.07B	$1.22M	0.72%	36,870 +25,370	+221%	+$841K
9	9 KT KT $10.1B	$276K	0.16%	+15,600	New	+$276K
10	10 Karooooo KARO $1.55B	$242K	0.14%	+5,700	New	+$242K