Nipun Capital, L.P.

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 27, 2026), Nipun Capital, L.P. reported 8 stock positions worth $202.1 million. Its top holding was iShares MSCI India ETF (INDA) at 39.0% of the portfolio, followed by iShares MSCI China ETF (MCHI, 23.3%) and iShares China Large-Cap ETF (FXI, 21.4%). Compared with Q4 2025, it sold out of 3, added to 4 and reduced 2. The biggest buy was Taiwan Semiconductor-SP ADR (TSM, shares +0%) and the biggest sale an exit from Intercorp Financial Services (IFS).

Most Recent 13F
Q2 2026
Location
Foster City, CA
CIK
0001781566
Portfolio Value
$202.1M (Q1 2026)
SEC Filing
0002085853-26-000515 ↗ filed Apr 27, 2026

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $112.9M Q1 2024 Q2 2024: $140.2M Q2 2024 Q3 2024: $158.3M Q3 2024 Q4 2024: $154.9M Q4 2024 Q1 2025: $170.5M Q1 2025 Q2 2025: $184.3M Q2 2025 Q3 2025: $158.3M Q3 2025 Q4 2025: $219.1M Q4 2025 Q1 2026: $202.1M $202.1M Q1 2026 Q2 2026: $214.5M Q2 2026

Holdings 8 stocks · $202.1M
INDA iShares MSCI India ETF 38.96% 1,680,955 $78.7M Add +0.1%
MCHI iShares MSCI China ETF 23.29% 837,800 $47.1M Add +0.0%
FXI iShares China Large-Cap ETF 21.38% 1,203,650 $43.2M Add +0.0%
TSM Taiwan Semiconductor-SP ADR 12.29% 73,520 $24.8M Add +0.2%
VWO Vanguard Ftse Emerging Marke 2.47% 92,200 $5.0M No change
PDD PDD Holdings Inc. 1.42% 28,000 $2.9M No change
TEN Tsakos Energy Navigation Ltd. 0.14% 7,400 $292K Reduce -29.5%
GASS Stealthgas Inc. 0.05% 11,455 $105K Reduce -42.9%

Portfolio Sells Q4 2025 → Q1 2026
IFS Intercorp Financial Services Sold out 0.00% −0.40
CMRE Costamare Inc. Sold out 0.00% −0.08
IMPP Imperial Petroleum Inc. Sold out 0.00% −0.05
GASS Stealthgas Inc. Reduce -42.9% 0.05% −0.01
TEN Tsakos Energy Navigation Ltd. Reduce -29.5% 0.14% +0.04

Portfolio Buys Q4 2025 → Q1 2026
TSM Taiwan Semiconductor-SP ADR Add +0.2% 12.29% +2.12
FXI iShares China Large-Cap ETF Add +0.0% 21.38% +0.35
MCHI iShares MSCI China ETF Add +0.0% 23.29% +0.33
INDA iShares MSCI India ETF Add +0.1% 38.96% −2.47

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 8$214.5MINDA, MCHI, TSM, FXI, VWO
Q1 2026 8$202.1MINDA, MCHI, FXI, TSM, VWO
Q4 2025 11$219.1MINDA, MCHI, FXI, TSM, VWO
Q3 2025 7$158.3MINDA, MCHI, FXI, EEM, SMIN
Q2 2025 12$184.3MINDA, MCHI, FXI, SMIN, VWO
Q1 2025 10$170.5MINDA, MCHI, FXI, SMIN, VWO
Q4 2024 8$154.9MINDA, MCHI, FXI, SMIN, VWO
Q3 2024 7$158.3MINDA, MCHI, FXI, EEM, SMIN
Q2 2024 7$140.2MINDA, MCHI, FXI, SMIN, PDD
Q1 2024 7$112.9MINDA, MCHI, FXI, SMIN, PDD