Carrhae Capital LLP

CIK: 0001555254SEC EDGAR →

Portfolio Value

$2.6B

Holdings

34

As of

Q4 2025

New Positions

10

Closed Positions

11

Top 10 Holdings

RankStockSharesValue% of Portfolio
1
NDQPut

INVESCO QQQ TR

463,200$284.5M
10.76%
2
KWEBCall

KRANESHARES TRUST

6,833,500$232.7M
8.80%
3
SLVCall

ISHARES SILVER TR

3,354,800$216.1M
8.18%
4
EEMPut

ISHARES TR

3,940,000$215.6M
8.15%
5
TSMPut

TAIWAN SEMICONDUCTOR MFG LTD

701,559$213.2M
8.07%
6

ELDORADO GOLD CORP NEW

4,010,214$144.0M
5.45%
7
ASHRCall

DBX ETF TR

3,983,200$130.8M
4.95%
8

SEA LTD

843,557$107.6M
4.07%
9

TECK RESOURCES LTD

2,063,912$98.8M
3.74%
10

NU HLDGS LTD

4,942,239$82.7M
3.13%

Quarterly Changes

Top Buys

NDQNEW
$284.5M
KWEBNEW
$232.7M
EEMNEW
$215.6M
$98.8M
NUNEW
$82.7M

Top Sells

ASHR↓ Decreased
$95.7M
AU↓ Decreased
$69.3M
GQ9↓ Decreased
$63.5M
IBN↓ Decreased
$61.6M
BABA↓ Decreased
$43.8M

New Positions (11)

$284.5M · 463K shares
$232.7M · 6.8M shares
$215.6M · 3.9M shares
$98.8M · 2.1M shares
$82.7M · 4.9M shares
$53.9M · 16.2M shares
$48.3M · 168K shares
$44.7M · 342K shares
$15.9M · 803K shares
$15.0M · 125K shares
$4.0M · 51K shares

Closed Positions (3)

$25.3M · 644K shares
$6.7M · 297K shares
$6.3M · 89K shares

Sector Breakdown

Sector# HoldingsValue%
Financial Services9$1.0B38.2%
Technology7$615.6M23.3%
Unknown4$456.7M17.3%
Consumer Cyclical4$239.8M9.1%
Industrials2$88.9M3.4%
Basic Materials3$85.2M3.2%
Energy2$80.3M3.0%
Consumer Defensive1$52.6M2.0%
Utilities2$13.9M0.5%