Carrhae Capital LLP
Carrhae Capital LLP is a London-based investment management firm founded in 2011, authorized and regulated by the UK's Financial Conduct Authority and also registered with the US SEC. The firm provides discretionary portfolio management and investment advisory services, primarily to professional clients and eligible counterparties such as institutional investors and high-net-worth individuals. As of 2025, Carrhae Capital LLP manages multi-billion dollar portfolios and employs about 22 staff, specializing in alternative investment fund management and cross-border investment services.
Investment Strategy
Carrhae Capital LLP manages and markets alternative investment funds with full-scope Alternative Investment Fund Manager (AIFM) permissions, including discretionary portfolio management and investment advice. The firm focuses on investing primarily in publicly traded global equities, with a high degree of concentration in top holdings and a significant turnover rate. Carrhae provides services strictly to professional and institutional investors, not retail clients, and maintains a regulated, compliant structure to address international and cross-border opportunities, especially within emerging and developed markets.
Top Holdings
Equity Positions (24)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
E ERJ | EMBRAER S.A. | 8.21% | $112.3M | 1,973,790 | $56.91 | $56.91 | +$112.3M |
E EGO | ELDORADO GOLD CORP NEW | 6.71% | $91.8M | 4,514,485 | $10.90 | $20.34 | -$20.7M |
S SE | SEA LTD | 4.83% | $66.0M | 412,960 | $99.34 | $159.94 | -$5.9M |
B BABA | ALIBABA GROUP HLDG LTD | 4.34% | $59.4M | 523,722 | $132.23 | $113.41 | -$14.5M |
F FCX | FREEPORT-MCMORAN INC | 4.28% | $58.5M | 1,349,063 | $43.35 | $43.35 | +$58.5M |
Options Positions (3)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
S SLV | ISHARES SILVER TR | New | Call | $119.7M | 36,475 | $32.81 | $32.81 | +36,475 | +$119.7M |
A ASHR | DBX ETF TR | Sold | Call | $106.4M | 38,650 | $27.54 | $26.49 | -13,990 | -$33.4M |
E EEM | ISHARES TR | Sold | Put | $96.2M | 19,950 | $48.24 | $42.63 | -57,697 | -$243.1M |