Nipun Capital, L.P.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 8, 2025), Nipun Capital, L.P. reported 10 stock positions worth $170.5 million. Its top holding was iShares MSCI India ETF (INDA) at 52.8% of the portfolio, followed by iShares MSCI China ETF (MCHI, 22.9%) and iShares China Large-Cap ETF (FXI, 10.5%). Compared with Q4 2024, it opened 2 new positions, added to 3 and reduced 1. The biggest buy was PDD (PDD, shares +160%) and the biggest sale iShares MSCI China ETF (MCHI, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- Foster City, CA
- CIK
- 0001781566
- Portfolio Value
- $170.5M (Q1 2025)
- SEC Filing
- 0001667731-25-000388 ↗ filed Apr 8, 2025
Holdings Value
Holdings 10 stocks · $170.5M
| INDA iShares MSCI India ETF | 52.84% | 1,749,945 | $90.1M | Add +8.5% |
| MCHI iShares MSCI China ETF | 22.91% | 717,900 | $39.1M | Reduce -2.8% |
| FXI iShares China Large-Cap ETF | 10.50% | 499,350 | $17.9M | No change |
| SMIN iShares MSCI India Small-Cap | 6.14% | 153,854 | $10.5M | No change |
| VWO Vanguard Ftse Emerging Marke | 2.93% | 110,200 | $5.0M | No change |
| PDD PDD Holdings Inc. | 2.83% | 40,800 | $4.8M | Add +159.9% |
| TSM Taiwan Semiconductor-SP ADR | 0.84% | 8,600 | $1.4M | No change |
| IFS Intercorp Financial Services | 0.72% | 36,870 | $1.2M | Add +220.6% |
| KT KT Corp.-SP ADR | 0.16% | 15,600 | $276K | New |
| KARO Karooooo Ltd. | 0.14% | 5,700 | $242K | New |
Portfolio Sells Q4 2024 → Q1 2025
| MCHI iShares MSCI China ETF | Reduce -2.8% | 22.91% | +0.57 |
Portfolio Buys Q4 2024 → Q1 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 8 | $214.5M | INDA, MCHI, TSM, FXI, VWO |
| Q1 2026 | 8 | $202.1M | INDA, MCHI, FXI, TSM, VWO |
| Q4 2025 | 11 | $219.1M | INDA, MCHI, FXI, TSM, VWO |
| Q3 2025 | 7 | $158.3M | INDA, MCHI, FXI, EEM, SMIN |
| Q2 2025 | 12 | $184.3M | INDA, MCHI, FXI, SMIN, VWO |
| Q1 2025 | 10 | $170.5M | INDA, MCHI, FXI, SMIN, VWO |
| Q4 2024 | 8 | $154.9M | INDA, MCHI, FXI, SMIN, VWO |
| Q3 2024 | 7 | $158.3M | INDA, MCHI, FXI, EEM, SMIN |
| Q2 2024 | 7 | $140.2M | INDA, MCHI, FXI, SMIN, PDD |
| Q1 2024 | 7 | $112.9M | INDA, MCHI, FXI, SMIN, PDD |