Ashoka WhiteOak Capital Pte Ltd
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Ashoka WhiteOak Capital Pte Ltd reported 15 stock positions worth $244.8 million. Its top holding was Icici Bank Ltd.-Spon ADR (IBN) at 75.2% of the portfolio, followed by HDFC Bank Ltd.-ADR (HDB, 13.1%) and Infosys Ltd.-SP ADR (INFY, 6.6%). Compared with Q4 2024, it opened 1 new position, added to 9 and reduced 2. The biggest buy was a new position in HDFC Bank Ltd.-ADR (HDB) and the biggest sale Epam Systems (EPAM, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- Singapore, U0
- CIK
- 0002031708
- Portfolio Value
- $244.8M (Q1 2025)
- SEC Filing
- 0001172661-25-001799 ↗ filed May 14, 2025
Holdings Value
Holdings 15 stocks · $244.8M
| IBN Icici Bank Ltd.-Spon ADR | 75.15% | 6,078,794 | $184.0M | Add +17.0% |
| HDB HDFC Bank Ltd.-ADR | 13.12% | 503,600 | $32.1M | New |
| INFY Infosys Ltd.-SP ADR | 6.64% | 971,863 | $16.3M | Add +12.3% |
| ASML ASML Holding NV-NY Reg SHS | 0.97% | 3,972 | $2.4M | Add +366.2% |
| MELI MercadoLibre Inc. | 0.91% | 1,216 | $2.2M | Add +131.2% |
| TME Tencent Music Entertainm-ADR | 0.70% | 142,720 | $1.7M | Add +61.8% |
| YUMC Yum China Holdings Inc. | 0.61% | 32,470 | $1.5M | Add +34.3% |
| HCC Warrior Met Coal Inc. | 0.53% | 29,652 | $1.3M | Add +263.7% |
| BAP Credicorp Ltd. | 0.39% | 5,645 | $959K | Add +31.3% |
| TBBB BBB Foods Inc. Class A | 0.29% | 28,800 | $715K | Add +264.6% |
| CPNG Coupang Inc. | 0.19% | 23,063 | $457K | No change |
| BZ Kanzhun Ltd. - ADR | 0.17% | 30,113 | $426K | No change |
| WPM Wheaton Precious Metals Corp. | 0.17% | 5,726 | $404K | Reduce -4.3% |
| EPAM Epam Systems Inc. | 0.10% | 1,680 | $241K | Reduce -3.0% |
| VTEX Vtex Class A | 0.07% | 37,300 | $166K | No change |
Portfolio Sells Q4 2024 → Q1 2025
Portfolio Buys Q4 2024 → Q1 2025
| HDB HDFC Bank Ltd.-ADR | New | 13.12% | +13.12 |
| ASML ASML Holding NV-NY Reg SHS | Add +366.2% | 0.97% | +0.64 |
| MELI MercadoLibre Inc. | Add +131.2% | 0.91% | +0.41 |
| HCC Warrior Met Coal Inc. | Add +263.7% | 0.53% | +0.28 |
| TBBB BBB Foods Inc. Class A | Add +264.6% | 0.29% | +0.17 |
| TME Tencent Music Entertainm-ADR | Add +61.8% | 0.70% | +0.15 |
| YUMC Yum China Holdings Inc. | Add +34.3% | 0.61% | −0.03 |
| BAP Credicorp Ltd. | Add +31.3% | 0.39% | −0.04 |
| INFY Infosys Ltd.-SP ADR | Add +12.3% | 6.64% | −3.83 |
| IBN Icici Bank Ltd.-Spon ADR | Add +17.0% | 75.15% | −10.51 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 17 | $425.3M | PAC, IBN, ASML, CTSH, HDB |
| Q1 2026 | 18 | $263.5M | IBN, CTSH, HDB, ASML, HCC |
| Q4 2025 | 17 | $262.6M | IBN, HDB, INFY, ASML, MELI |
| Q3 2025 | 16 | $257.0M | IBN, HDB, INFY, ASML, MELI |
| Q2 2025 | 16 | $294.4M | IBN, HDB, INFY, ASML, MELI |
| Q1 2025 | 15 | $244.8M | IBN, HDB, INFY, ASML, MELI |
| Q4 2024 | 14 | $181.1M | IBN, INFY, YUMC, TME, MELI |