Nipun Capital, L.P.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), Nipun Capital, L.P. reported 12 stock positions worth $184.3 million. Its top holding was iShares MSCI India ETF (INDA) at 53.6% of the portfolio, followed by iShares MSCI China ETF (MCHI, 22.3%) and iShares China Large-Cap ETF (FXI, 10.8%). Compared with Q1 2025, it opened 3 new positions, sold out of 1, added to 4 and reduced 1. The biggest buy was iShares MSCI India ETF (INDA, shares +1%) and the biggest sale PDD (PDD, shares −36%).
- Most Recent 13F
- Q2 2026
- Location
- Foster City, CA
- CIK
- 0001781566
- Portfolio Value
- $184.3M (Q2 2025)
- SEC Filing
- 0001667731-25-001096 ↗ filed Aug 12, 2025
Holdings Value
Holdings 12 stocks · $184.3M
| INDA iShares MSCI India ETF | 53.56% | 1,772,945 | $98.7M | Add +1.3% |
| MCHI iShares MSCI China ETF | 22.34% | 747,200 | $41.2M | Add +4.1% |
| FXI iShares China Large-Cap ETF | 10.85% | 543,850 | $20.0M | Add +8.9% |
| SMIN iShares MSCI India Small-Cap | 6.44% | 153,854 | $11.9M | No change |
| VWO Vanguard Ftse Emerging Marke | 2.96% | 110,200 | $5.5M | No change |
| PDD PDD Holdings Inc. | 1.48% | 26,000 | $2.7M | Reduce -36.3% |
| TSM Taiwan Semiconductor-SP ADR | 1.06% | 8,600 | $1.9M | No change |
| IFS Intercorp Financial Services | 0.85% | 40,970 | $1.6M | Add +11.1% |
| YALA Yalla Group Ltd. | 0.21% | 56,683 | $382K | New |
| KARO Karooooo Ltd. | 0.15% | 5,700 | $279K | No change |
| CINT Ci&t Inc./United States-A | 0.06% | 18,600 | $111K | New |
| GASS Stealthgas Inc. | 0.05% | 14,116 | $90K | New |
Portfolio Sells Q1 2025 → Q2 2025
Portfolio Buys Q1 2025 → Q2 2025
| INDA iShares MSCI India ETF | Add +1.3% | 53.56% | +0.73 |
| FXI iShares China Large-Cap ETF | Add +8.9% | 10.85% | +0.35 |
| YALA Yalla Group Ltd. | New | 0.21% | +0.21 |
| IFS Intercorp Financial Services | Add +11.1% | 0.85% | +0.13 |
| CINT Ci&t Inc./United States-A | New | 0.06% | +0.06 |
| GASS Stealthgas Inc. | New | 0.05% | +0.05 |
| MCHI iShares MSCI China ETF | Add +4.1% | 22.34% | −0.57 |
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 |