Carrhae Capital LLP

Q4 2025 13F-HR Holdings

Location
London, X0
Holdings as of
12/31/2025
Date filed
2/6/2026
Form type
13F-HR
Num holdings
35
Total value ($000)
$2,643,321
Net value change ($000)
+945,551 (55.7%)
New positions
8
Sold out positions
3
Turnover %
26.8%
Sector allocation + QoQ delta (equities-only)

Holdings aggregated across other managers listed in the original SEC filing. View detailed breakdown

Prev filing: 11/20/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
TSM 123,993 226.1%
TECK 98,841 NEW
NU 82,733 NEW
BBD 53,897 NEW
BAP 48,331 NEW
JBS 46,580 770.9%
BIDU 44,653 NEW
FNV 35,915 143.8%
GGAL 34,192 393.0%
MMYT 26,277 74.2%
Top Reduces (Value $000, Stocks/ETFs)
AU -69,266 -89.2%
IBN -61,613 -50.9%
BABA -43,809 -49.2%
PDD -25,893 -50.6%
FCX -25,272 -100.0%
RNW -7,415 -34.8%
PONY -6,686 -100.0%
SHEL -6,340 -100.0%
SNPS -2,677 -5.6%
EGO -251 -0.2%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 1,142,734 (43.2% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
Filter:
Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type