New Vernon Capital Holdings II LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), New Vernon Capital Holdings II LLC reported 88 stock positions worth $211.0 million. Its top holding was HDFC Bank Ltd.-ADR (HDB) at 12.1% of the portfolio, followed by Icici Bank Ltd.-Spon ADR (IBN, 9.5%) and iShares MSCI South Korea ETF (EWY, 7.7%). Compared with Q3 2025, it opened 18 new positions, sold out of 11, added to 3 and reduced 11. The biggest buy was a new position in Nu Holdings Ltd./Cayman Isl-A (NU) and the biggest sale iShares China Large-Cap ETF (FXI, shares −47%).

Most Recent 13F
Q2 2026
Location
Morristown, NJ
CIK
0001512538
Portfolio Value
$211.0M (Q4 2025)
SEC Filing
0001512538-26-000003 ↗ filed Feb 17, 2026

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $193.3M Q1 2024 Q2 2024: $185.4M Q2 2024 Q3 2024: $185.9M Q3 2024 Q4 2024: $145.4M Q4 2024 Q1 2025: $186.7M Q1 2025 Q2 2025: $208.4M Q2 2025 Q3 2025: $217.3M Q3 2025 Q4 2025: $211.0M $211.0M Q4 2025 Q1 2026: $135.6M Q1 2026 Q2 2026: $181.4M Q2 2026

Holdings 88 stocks · $211.0M

HDB HDFC Bank Ltd.-ADR 12.09% 698,118 $25.5M No change
IBN Icici Bank Ltd.-Spon ADR 9.54% 675,644 $20.1M Reduce -18.0%
EWY iShares MSCI South Korea ETF 7.73% 167,809 $16.3M No change
TSM Taiwan Semiconductor-SP ADR 7.37% 51,186 $15.6M No change
VWO Vanguard Ftse Emerging Marke 7.25% 284,473 $15.3M No change
EPI Wisdomtree India Earnings 6.65% 302,875 $14.0M No change
EWS iShares MSCI Singapore ETF 5.46% 418,734 $11.5M No change
INDA iShares MSCI India ETF 5.03% 196,459 $10.6M No change
EWT iShares MSCI Taiwan ETF 4.45% 147,778 $9.4M No change
BBJP JPMorgan Betabuilders Japan 3.84% 122,763 $8.1M No change
DXJ Wisdomtree Japan Hedged Eq 3.18% 46,560 $6.7M No change
INFY Infosys Ltd.-SP ADR 2.84% 336,718 $6.0M No change
EWC iShares MSCI Canada ETF 2.83% 110,826 $6.0M No change
EWU iShares MSCI United Kingdom 2.42% 115,898 $5.1M No change
EWZ iShares MSCI Brazil ETF 2.37% 157,309 $5.0M No change
FXI iShares China Large-Cap ETF 2.07% 113,830 $4.4M Reduce -47.4%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 2.03% 255,986 $4.3M New
EWG iShares MSCI Germany ETF 1.51% 75,183 $3.2M No change
EWD iShares MSCI Sweden ETF 1.40% 59,982 $3.0M No change
NVS Novartis AG-Sponsored ADR 1.11% 16,911 $2.3M No change
EWP iShares MSCI Spain ETF 1.05% 41,113 $2.2M No change
UBS UBS Group AG-Reg 0.41% 18,627 $863K No change
VNM Vaneck Vietnam ETF 0.38% 41,852 $799K No change
MMYT Makemytrip Ltd. 0.36% 9,213 $757K Reduce -66.3%
RACE Ferrari NV 0.24% 1,394 $515K New
EME Emcor Group Inc. 0.24% 836 $511K No change
GBDC Golub Capital BDC Inc. 0.24% 36,644 $497K New
E Eni SPA-Sponsored ADR 0.22% 12,197 $463K New
STLA Stellantis NV 0.21% 40,674 $443K New
IBIT iShares Bitcoin Trust ETF 0.21% 8,858 $440K Reduce -22.4%
GTX Garrett Motion Inc. 0.19% 23,178 $404K No change
POWL Powell Industries Inc. 0.18% 1,191 $380K No change
PTGX Protagonist Therapeutics Inc. 0.17% 4,137 $361K Reduce -42.5%
FOXA Fox Corp. Class A 0.17% 4,842 $354K No change
TGNA Tegna Inc. 0.17% 18,162 $353K No change
CPRX Catalyst Pharmaceuticals Inc. 0.15% 13,520 $316K No change
LDOS Leidos Holdings Inc. 0.14% 1,641 $296K No change
TS Tenaris SA-ADR 0.14% 7,581 $291K New
PTCT PTC Therapeutics Inc. 0.13% 3,668 $279K Reduce -0.2%
EXEL Exelixis Inc. 0.13% 6,095 $267K No change
PRDO Perdoceo Education Corp. 0.13% 9,056 $266K No change
INVA Innoviva Inc. 0.12% 13,122 $262K No change
ALC Alcon Inc. filed as ALCON AG 0.12% 3,326 $262K No change
MD Pediatrix Medical Group Inc. 0.12% 11,704 $250K No change
DECK Deckers Outdoor Corp. 0.12% 2,405 $249K Add +51.1%
KFY Korn Ferry 0.12% 3,761 $248K No change
COLL Collegium Pharmaceutical Inc. 0.12% 5,343 $247K No change
HPQ HP Inc. 0.11% 10,832 $241K No change
CTSH Cognizant Tech Solutions-A 0.11% 2,867 $238K New
SAIC Science Applications Inte 0.11% 2,364 $238K New
FTDR Frontdoor Inc. 0.11% 4,122 $238K Add +646.7%
CRCT Cricut Inc. Class A 0.11% 46,869 $232K No change
OMC Omnicom Group 0.11% 2,832 $229K No change
IDCC Interdigital Inc. 0.11% 715 $228K Add +123.4%
NXT Nextpower Inc. 0.11% 2,557 $223K Reduce -56.7%
CI The Cigna Group 0.10% 795 $219K No change
PLTK Playtika Holding Corp. 0.10% 54,036 $213K No change
IDT Idt Corp. Class B 0.10% 4,136 $212K New
MTCH Match Group Inc. 0.09% 6,152 $199K New
SIRI Sirius XM Holdings Inc. 0.09% 9,764 $196K New
LNTH Lantheus Holdings Inc. 0.09% 2,855 $190K Reduce -0.6%
BLBD Blue Bird Corp. 0.09% 3,964 $186K Reduce -44.6%
ALSN Allison Transmission Holding 0.09% 1,837 $180K No change
SAN Banco Santander SA-Spon ADR 0.08% 15,192 $178K New
HRMY Harmony Biosciences Holdings 0.08% 4,541 $170K No change
YELP Yelp Inc. 0.08% 5,556 $169K Reduce -0.5%
HRB H&R Block Inc. filed as BLOCK H & R INC 0.08% 3,763 $164K No change
IAG Iamgold Corp. 0.07% 6,813 $154K No change
B Barrick Mining Corp. 0.07% 2,522 $151K No change
SVM Silvercorp Metals Inc. 0.07% 12,087 $139K No change
BBVA Banco Bilbao Vizcaya-SP ADR 0.06% 5,777 $135K New
KGC Kinross Gold Corp. 0.06% 3,275 $127K No change
LOGI Logitech International-Reg 0.06% 1,261 $126K No change
TDC Teradata Corp. 0.06% 4,028 $123K No change
AAUC Allied Gold Corp. 0.05% 3,321 $104K No change
BHC Bausch Health Cos Inc. 0.05% 10,951 $104K No change
MGA Magna International Inc. 0.05% 1,397 $102K No change
FSM Fortuna Mining Corp. 0.05% 7,475 $101K No change
GIL Gildan Activewear Inc. 0.04% 1,072 $92K No change
OTEX Open Text Corp. 0.04% 1,791 $80K No change
GOOS Canada Goose Holdings Inc. 0.04% 4,367 $78K No change
QSR Restaurant Brands Intern 0.03% 707 $66K No change
GIB Cgi Inc. 0.03% 473 $60K New
TELFY Telefonica SA-Spon ADR 0.02% 11,168 $45K New
HLIT Harmonic Inc. 0.02% 4,257 $42K Reduce -83.9%
HBM Hudbay Minerals Inc. 0.01% 660 $18K New
CGAU Centerra Gold Inc. 0.01% 841 $17K New
BTG B2GOLD Corp. 0.01% 2,459 $15K New

Portfolio Sells Q3 2025 → Q4 2025

FXI iShares China Large-Cap ETF Reduce -47.4% 2.07% −2.03
IBN Icici Bank Ltd.-Spon ADR Reduce -18.0% 9.54% −1.92
EWI iShares MSCI Italy ETF Sold out 0.00% −1.53
SE Sea Ltd.-ADR Sold out 0.00% −1.29
MELI MercadoLibre Inc. Sold out 0.00% −1.10
MMYT Makemytrip Ltd. Reduce -66.3% 0.36% −0.82
SUB iShares Short-Term National Sold out 0.00% −0.77
EPOL iShares MSCI Poland ETF Sold out 0.00% −0.35
TPR Tapestry Inc. Sold out 0.00% −0.16
JBI Janus International Group Inc. Sold out 0.00% −0.15
IBIT iShares Bitcoin Trust ETF Reduce -22.4% 0.21% −0.13
LAUR Laureate Education Inc. Sold out 0.00% −0.12
HLIT Harmonic Inc. Reduce -83.9% 0.02% −0.10
BLBD Blue Bird Corp. Reduce -44.6% 0.09% −0.10
NXT Nextpower Inc. Reduce -56.7% 0.11% −0.10
VVX V2X Inc. Sold out 0.00% −0.08
BBWI Bath & Body Works Inc. Sold out 0.00% −0.06
PTGX Protagonist Therapeutics Inc. Reduce -42.5% 0.17% −0.05
REZI Resideo Technologies Inc. Sold out 0.00% −0.05
YELP Yelp Inc. Reduce -0.5% 0.08% −0.00
LNTH Lantheus Holdings Inc. Reduce -0.6% 0.09% +0.02
PTCT PTC Therapeutics Inc. Reduce -0.2% 0.13% +0.03

Portfolio Buys Q3 2025 → Q4 2025

NU Nu Holdings Ltd./Cayman Isl-A New 2.03% +2.03
RACE Ferrari NV New 0.24% +0.24
GBDC Golub Capital BDC Inc. New 0.24% +0.24
E Eni SPA-Sponsored ADR New 0.22% +0.22
STLA Stellantis NV New 0.21% +0.21
TS Tenaris SA-ADR New 0.14% +0.14
CTSH Cognizant Tech Solutions-A New 0.11% +0.11
SAIC Science Applications Inte New 0.11% +0.11
IDT Idt Corp. Class B New 0.10% +0.10
FTDR Frontdoor Inc. Add +646.7% 0.11% +0.10
MTCH Match Group Inc. New 0.09% +0.09
SIRI Sirius XM Holdings Inc. New 0.09% +0.09
SAN Banco Santander SA-Spon ADR New 0.08% +0.08
BBVA Banco Bilbao Vizcaya-SP ADR New 0.06% +0.06
IDCC Interdigital Inc. Add +123.4% 0.11% +0.06
DECK Deckers Outdoor Corp. Add +51.1% 0.12% +0.04
GIB Cgi Inc. New 0.03% +0.03
TELFY Telefonica SA-Spon ADR New 0.02% +0.02
HBM Hudbay Minerals Inc. New 0.01% +0.01
CGAU Centerra Gold Inc. New 0.01% +0.01
BTG B2GOLD Corp. New 0.01% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 73$181.4MTSM, VWO, IBN, EWS, EPI
Q1 2026 77$135.6MTSM, EWY, VWO, EWS, IBN
Q4 2025 88$211.0MHDB, IBN, EWY, TSM, VWO
Q3 2025 81$217.3MIBN, HDB, VWO, TSM, EWY
Q2 2025 68$208.4MIBN, HDB, EPI, VWO, INDA
Q1 2025 66$186.7MIBN, IVV, HDB, EPI, INFY
Q4 2024 66$145.4MIVV, IBN, DXJ, INFY, TSM
Q3 2024 63$185.9MIVV, EPI, IBN, HDB, INFY
Q2 2024 73$185.4MIVV, EPI, IBN, HDB, EWT
Q1 2024 78$193.3MIVV, EPI, IBN, HDB, INFY