Carrhae Capital LLP
13F Reported Value
ⓘ$3.6B
incl. option notional
Equity Holdings
ⓘ$1.5B
Option Notional
ⓘ$2.1B
$1.7B puts / $428.1M calls
Holdings
29
Latest Filing
2026-06-30
Filing Quarter
Q2 2026
Portfolio Overview
Carrhae Capital LLP disclosed 29 positions worth $3.6B in its Form 13F-HR for Q2 2026 — $1.5B in common stock plus $2.1B of put/call option positions (reported at underlying notional value, not premium at risk), led by $QQQ (INVESCO QQQ TRUST, SERIES 1) puts. During the quarter the fund opened 9 new positions and exited 9 and a full exit from $SLV. The portfolio is most concentrated in Industrials (29.3% of disclosed assets). All figures are sourced directly from Carrhae Capital LLP’s Form 13F-HR filing with the SEC under CIK 1555254.
AI Fund Analysis
DiversifyingSector Allocation
AUM History
Top Equity Holdings by Value
Option Positions
13F rules report options at the value of the underlying shares (notional) — not the premium paid or capital at risk. Shown separately from the equity sleeve above.
Quarterly Activity — Q2 2026
Click any card to unlockTop Holdings
- $1.1B1,444,000 sh
ISHARES TR - MSCI EMG MKT ETF PUT
—Quality
$549.2M8,027,800 sh- —
Quality
$224.0M608,000 sh - $198.0M414,556 sh
- —
Quality
$140.5M1,466,148 sh - $138.3M1,440,800 sh
- —
Quality
$129.5M2,029,766 sh - —
Quality
$121.5M3,909,137 sh - —
Quality
$101.5M3,496,179 sh - —
Quality
$99.1M3,300,419 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
 INVESCO QQQ TRUST, SERIES 1$QQQPUT | — | $1.1B | 1,444,000 |
| ISHARES TR - MSCI EMG MKT ETF PUT | — | $549.2M | 8,027,800 |
 SPDR GOLD TRUST$GLDCALL | — | $224.0M | 608,000 |
 TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD$TSM | — | $198.0M | 414,556 |
 Sea Ltd$SE | — | $140.5M | 1,466,148 |
 Alibaba Group Holding Ltd$BABACALL | — | $138.3M | 1,440,800 |
 EMBRAER S.A.$EMBJ | — | $129.5M | 2,029,766 |
 ELDORADO GOLD CORP /FI$EGO | — | $121.5M | 3,909,137 |
 ICICI BANK LTD$IBN | — | $101.5M | 3,496,179 |
 GDS Holdings Ltd$GDS | — | $99.1M | 3,300,419 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of Carrhae Capital LLP's 29 positions.
Showing top 10 of 29 holdings.
Sector Allocation
Industrials
$444.0M
Technology
$348.2M
Financials
$248.3M
Materials
$198.2M
Energy
$166.5M
Consumer Staples
$52.2M
Consumer Discretionary
$50.0M
Real Estate
$10.1M
Full Holdings — Carrhae Capital LLP (Q2 2026)
All 29 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | $QQQPUT | INVESCO QQQ TRUST, SERIES 1 | $1.1B | — | -42% | — |
| 2 | — | ISHARES TR - MSCI EMG MKT ETF | $549.2M | — | NEW | — |
| 3 | $GLDCALL | SPDR GOLD TRUST | $224.0M | — | +348% | — |
| 4 | $TSM | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | $198.0M | 13.1% | -26% | — |
| 5 | $SE | Sea Ltd | $140.5M | 9.3% | NEW | — |
| 6 | $BABACALL | Alibaba Group Holding Ltd | $138.3M | — | +294% | — |
| 7 | $EMBJ | EMBRAER S.A. | $129.5M | 8.5% | -30% | — |
| 8 | $EGO | ELDORADO GOLD CORP /FI | $121.5M | 8.0% | -20% | — |
| 9 | $IBN | ICICI BANK LTD | $101.5M | 6.7% | -31% | — |
| 10 | $GDS | GDS Holdings Ltd | $99.1M | 6.5% | +51% | — |
| 11 |  $PBR | PETROBRAS - PETROLEO BRASILEIRO SA | $87.5M | 5.8% | NEW | — |
| 12 |  $ITUB | Itau Unibanco Holding S.A. | $78.8M | 5.2% | -53% | — |
| 13 |  $GGAL | GRUPO FINANCIERO GALICIA SA | $68.1M | 4.5% | NEW | — |
| 14 | — | KRANESHARES TRUST - CSI CHI INTERNET | $65.9M | — | +45% | — |
| 15 |  $ASML | ASML HOLDING NV | $63.8M | 4.2% | NEW | — |
| 16 |  $USOPUT | United States Oil Fund, LP | $63.5M | — | +0% | — |
| 17 |  $CPA | Copa Holdings, S.A. | $62.3M | 4.1% | -23% | — |
| 18 |  $AU | AngloGold Ashanti PLC | $61.2M | 4.0% | +199% | — |
| 19 |  $PPC | PILGRIMS PRIDE CORP | $52.2M | 3.4% | NEW | 65.8 |
| 20 | $BABA | Alibaba Group Holding Ltd | $48.0M | 3.2% | -63% | — |
| 21 |  $NTES | NetEase, Inc. | $39.3M | 2.6% | +343% | — |
| 22 |  $SLB | SLB LIMITED/NV | $38.8M | 2.6% | +50% | 63.2 |
| 23 |  $CPNG | Coupang, Inc. | $38.2M | 2.5% | NEW | 56.4 |
| 24 |  $HAL | HALLIBURTON CO | $24.7M | 1.6% | +21% | 50.9 |
| 25 |  $SOBO | South Bow Corp | $15.6M | 1.0% | NEW | — |
| 26 |  $TS | TENARIS SA | $15.4M | 1.0% | -18% | — |
| 27 |  $MMYT | MakeMyTrip Ltd | $11.8M | 0.8% | +47% | — |
| 28 |  $VNET | VNET Group, Inc. | $11.8M | 0.8% | -3% | — |
| 29 |  $BEKE | KE Holdings Inc. | $10.1M | 0.7% | NEW | — |
New Positions (9)
Browse Top Institutional Investors
13F Pro tracks 8,700+ institutional investors filing 13F reports with the SEC.
to search all 8,700+ institutional filers.
Available Analysis
13F Pro tracks comprehensive institutional data for Carrhae Capital LLP including:
Track Carrhae Capital LLP's Full Portfolio
See every holding, quarter-over-quarter changes, sector allocation, and accumulation patterns for Carrhae Capital LLP and 8,700+ other institutional investors.
Free tier includes full 13F search and fund profiles. Pro starts at $6.67/mo (billed annually).
AI-Powered Hedge Fund Analysis: Carrhae Capital LLP
13F Pro is an AI hedge fund tracker and stock research platform. For Carrhae Capital LLP (SEC CIK: 1555254), the platform ingests every quarterly Form 13F filing and applies AI-powered analysis on top — 10 specialized AI analysts (value, growth, momentum, macro, activist, and more) debate the fund's top positions and publish AI-generated analysis with cited SEC sources.
Every holding in Carrhae Capital LLP's portfolio is scored on a 32-signal AI quality ranking (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.