Carrhae Capital LLP Hedge Fund

CIK: 0001555254 · Show all filings

Period: Q3 2025 (← Previous) (Next →)

Filing Date: Nov 20, 2025

Total Value ($000): $1,697,770 (100.0% shares, 0.0% debt)

Holdings (27)

ASHR DBX ETF TR 13.3%

Value ($000) $226,507 Shares 6,868,000 Est. Cost — Unrealized —

SLV ISHARES SILVER TR 12.5%

Value ($000) $212,757 Shares 5,021,400 Est. Cost $31.21 Unrealized —

EGO ELDORADO GOLD CORP NEW 8.5%

Value ($000) $144,298 Shares 4,994,738 Est. Cost $12.00 Unrealized +96.1%

IBN ICICI BANK LIMITED 7.1%

Value ($000) $120,997 Shares 4,002,553 Est. Cost $30.23 Unrealized —

TSM TAIWAN SEMICONDUCTOR MFG LTD 6.7%

Value ($000) $113,140 Shares 405,100 Est. Cost $226.49 Unrealized —

SE SEA LTD 5.6%

Value ($000) $95,274 Shares 533,060 Est. Cost $117.22 Unrealized —

GLD SPDR GOLD TR 5.4%

Value ($000) $92,067 Shares 259,000 Est. Cost — Unrealized —

BABA ALIBABA GROUP HLDG LTD 5.2%

Value ($000) $89,049 Shares 498,234 Est. Cost $132.23 Unrealized —

AU ANGLOGOLD ASHANTI PLC 4.6%

Value ($000) $77,648 Shares 1,104,051 Est. Cost $21.89 Unrealized +150.9%

EMBJ EMBRAER S.A. 4.2%

Value ($000) $71,249 Shares 1,178,651 Est. Cost $56.91 Unrealized —

GDS GDS HLDGS LTD 3.8%

Value ($000) $63,788 Shares 1,648,278 Est. Cost $36.64 Unrealized —

TSM TAIWAN SEMICONDUCTOR MFG LTD 3.2%

Value ($000) $54,834 Shares 196,332 Est. Cost $226.49 Unrealized —

PDD PDD HOLDINGS INC 3.0%

Value ($000) $51,140 Shares 386,924 Est. Cost $112.23 Unrealized —

SNPS SYNOPSYS INC 2.8%

Value ($000) $47,472 Shares 96,215 Est. Cost $565.30 Unrealized 0.0%

MMYT MAKEMYTRIP LIMITED MAURITIUS 2.1%

Value ($000) $35,390 Shares 378,097 Est. Cost $89.69 Unrealized +8.4%

YMM FULL TRUCK ALLIANCE CO LTD 2.0%

Value ($000) $34,692 Shares 2,674,774 Est. Cost $12.97 Unrealized —

EQT EQT CORP 1.7%

Value ($000) $28,306 Shares 520,036 Est. Cost $52.61 Unrealized 0.0%

FCX FREEPORT-MCMORAN INC 1.5%

Value ($000) $25,272 Shares 644,376 Est. Cost $37.70 Unrealized +14.6%

FNV FRANCO NEV CORP 1.5%

Value ($000) $24,978 Shares 112,054 Est. Cost $141.29 Unrealized +27.5%

VIST VISTA ENERGY S.A.B. DE C.V. 1.4%

Value ($000) $23,681 Shares 688,405 Est. Cost $42.20 Unrealized —

RNW RENEW ENERGY GLOBAL PLC 1.3%

Value ($000) $21,308 Shares 2,767,298 Est. Cost $7.64 Unrealized -0.4%

WRD WERIDE INC 1.0%

Value ($000) $16,153 Shares 1,631,583 Est. Cost $9.90 Unrealized —

GGAL GRUPO FINANCIERO GALICIA S.A 0.5%

Value ($000) $8,701 Shares 315,700 Est. Cost $27.56 Unrealized —

PONY PONY AI INC 0.4%

Value ($000) $6,686 Shares 297,295 Est. Cost $22.49 Unrealized —

SHEL SHELL PLC 0.4%

Value ($000) $6,340 Shares 88,632 Est. Cost $71.53 Unrealized —

JBS JBS N.V. 0.4%

Value ($000) $6,042 Shares 404,673 Est. Cost $14.58 Unrealized 0.0%

RNWWW RENEW ENERGY GLOBAL PLC 0.0%

Value ($000) $3 Shares 64,966 Est. Cost $1.09 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ASHR	DBX ETF TR	6,868,000	$226,507	13.3%	—	—	Call	233051879
SLV	ISHARES SILVER TR	5,021,400	$212,757	12.5%	$31.21	—	Call	46428Q109
EGO	ELDORADO GOLD CORP NEW	4,994,738	$144,298	8.5%	$12.00	+96.1%	COM	284902509
IBN	ICICI BANK LIMITED	4,002,553	$120,997	7.1%	$30.23	—	ADR	45104G104
TSM	TAIWAN SEMICONDUCTOR MFG LTD	405,100	$113,140	6.7%	$226.49	—	Put	874039100
SE	SEA LTD	533,060	$95,274	5.6%	$117.22	—	SPONSORD ADS	81141R100
GLD	SPDR GOLD TR	259,000	$92,067	5.4%	—	—	Call	78463V107
BABA	ALIBABA GROUP HLDG LTD	498,234	$89,049	5.2%	$132.23	—	SPONSORED ADS	01609W102
AU	ANGLOGOLD ASHANTI PLC	1,104,051	$77,648	4.6%	$21.89	+150.9%	COM SHS	G0378L100
EMBJ	EMBRAER S.A.	1,178,651	$71,249	4.2%	$56.91	—	SPONSORED ADS	29082A107
GDS	GDS HLDGS LTD	1,648,278	$63,788	3.8%	$36.64	—	SPONSORED ADS	36165L108
TSM	TAIWAN SEMICONDUCTOR MFG LTD	196,332	$54,834	3.2%	$226.49	—	SPONSORED ADS	874039100
PDD	PDD HOLDINGS INC	386,924	$51,140	3.0%	$112.23	—	SPONSORED ADS	722304102
SNPS	SYNOPSYS INC	96,215	$47,472	2.8%	$565.30	0.0%	COM	871607107
MMYT	MAKEMYTRIP LIMITED MAURITIUS	378,097	$35,390	2.1%	$89.69	+8.4%	SHS	V5633W109
YMM	FULL TRUCK ALLIANCE CO LTD	2,674,774	$34,692	2.0%	$12.97	—	SPONSORED ADS	35969L108
EQT	EQT CORP	520,036	$28,306	1.7%	$52.61	0.0%	COM	26884L109
FCX	FREEPORT-MCMORAN INC	644,376	$25,272	1.5%	$37.70	+14.6%	CL B	35671D857
FNV	FRANCO NEV CORP	112,054	$24,978	1.5%	$141.29	+27.5%	COM	351858105
VIST	VISTA ENERGY S.A.B. DE C.V.	688,405	$23,681	1.4%	$42.20	—	SPONSORED ADS	92837L109
RNW	RENEW ENERGY GLOBAL PLC	2,767,298	$21,308	1.3%	$7.64	-0.4%	CL A SHS	G7500M104
WRD	WERIDE INC	1,631,583	$16,153	1.0%	$9.90	—	SPONSORED ADS	950915108
GGAL	GRUPO FINANCIERO GALICIA S.A	315,700	$8,701	0.5%	$27.56	—	SPONSORED ADR	399909100
PONY	PONY AI INC	297,295	$6,686	0.4%	$22.49	—	SPONSORED ADS	732908108
SHEL	SHELL PLC	88,632	$6,340	0.4%	$71.53	—	SPON ADS	780259305
JBS	JBS N.V.	404,673	$6,042	0.4%	$14.58	0.0%	CL A SHS	N4732M103
RNWWW	RENEW ENERGY GLOBAL PLC	64,966	$3	0.0%	$1.09	—	*W EXP 08/21/202	G7500M120