Ashoka WhiteOak Capital Pte Ltd
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 16, 2025), Ashoka WhiteOak Capital Pte Ltd reported 16 stock positions worth $294.4 million. Its top holding was Icici Bank Ltd.-Spon ADR (IBN) at 71.2% of the portfolio, followed by HDFC Bank Ltd.-ADR (HDB, 14.7%) and Infosys Ltd.-SP ADR (INFY, 6.3%). Compared with Q1 2025, it opened 2 new positions, sold out of 1, added to 6 and reduced 8. The biggest buy was ASML Holding NV-NY Reg SHS (ASML, shares +46%) and the biggest sale Icici Bank Ltd.-Spon ADR (IBN, shares −29%).
- Most Recent 13F
- Q2 2026
- Location
- Singapore, U0
- CIK
- 0002031708
- Portfolio Value
- $294.4M (Q2 2025)
- SEC Filing
- 0001172661-25-002613 ↗ filed Jul 16, 2025
Holdings Value
Holdings 16 stocks · $294.4M
| IBN Icici Bank Ltd.-Spon ADR | 71.20% | 4,339,763 | $209.6M | Reduce -28.6% |
| HDB HDFC Bank Ltd.-ADR | 14.74% | 360,500 | $43.4M | Reduce -28.4% |
| INFY Infosys Ltd.-SP ADR | 6.32% | 530,000 | $18.6M | Reduce -45.5% |
| ASML ASML Holding NV-NY Reg SHS | 1.57% | 5,780 | $4.6M | Add +45.5% |
| MELI MercadoLibre Inc. | 1.30% | 1,470 | $3.8M | Add +20.9% |
| TME Tencent Music Entertainm-ADR | 0.82% | 124,100 | $2.4M | Reduce -13.1% |
| CPNG Coupang Inc. | 0.67% | 62,363 | $2.0M | Add +170.4% |
| GRAB Grab Holdings Ltd. Class A | 0.56% | 333,000 | $1.7M | New |
| TBBB BBB Foods Inc. Class A | 0.54% | 57,800 | $1.6M | Add +100.7% |
| HCC Warrior Met Coal Inc. | 0.44% | 29,120 | $1.3M | Reduce -1.8% |
| YUMC Yum China Holdings Inc. | 0.43% | 28,150 | $1.3M | Reduce -13.3% |
| BAP Credicorp Ltd. | 0.43% | 5,510 | $1.3M | Reduce -2.4% |
| BZ Kanzhun Ltd. - ADR | 0.41% | 65,400 | $1.2M | Add +117.2% |
| PAC Grupo Aeroportuario Pac-ADR | 0.27% | 3,500 | $804K | New |
| VTEX Vtex Class A | 0.19% | 86,100 | $564K | Add +130.8% |
| EPAM Epam Systems Inc. | 0.10% | 1,652 | $294K | Reduce -1.7% |
Portfolio Sells Q1 2025 → Q2 2025
| IBN Icici Bank Ltd.-Spon ADR | Reduce -28.6% | 71.20% | −3.95 |
| INFY Infosys Ltd.-SP ADR | Reduce -45.5% | 6.32% | −0.32 |
| YUMC Yum China Holdings Inc. | Reduce -13.3% | 0.43% | −0.18 |
| WPM Wheaton Precious Metals Corp. | Sold out | 0.00% | −0.17 |
| HCC Warrior Met Coal Inc. | Reduce -1.8% | 0.44% | −0.09 |
| EPAM Epam Systems Inc. | Reduce -1.7% | 0.10% | +0.00 |
| BAP Credicorp Ltd. | Reduce -2.4% | 0.43% | +0.04 |
| TME Tencent Music Entertainm-ADR | Reduce -13.1% | 0.82% | +0.12 |
| HDB HDFC Bank Ltd.-ADR | Reduce -28.4% | 14.74% | +1.62 |
Portfolio Buys Q1 2025 → Q2 2025
| ASML ASML Holding NV-NY Reg SHS | Add +45.5% | 1.57% | +0.61 |
| GRAB Grab Holdings Ltd. Class A | New | 0.56% | +0.56 |
| CPNG Coupang Inc. | Add +170.4% | 0.67% | +0.48 |
| MELI MercadoLibre Inc. | Add +20.9% | 1.30% | +0.39 |
| PAC Grupo Aeroportuario Pac-ADR | New | 0.27% | +0.27 |
| TBBB BBB Foods Inc. Class A | Add +100.7% | 0.54% | +0.25 |
| BZ Kanzhun Ltd. - ADR | Add +117.2% | 0.41% | +0.24 |
| VTEX Vtex Class A | Add +130.8% | 0.19% | +0.12 |
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 |