Carrhae Capital LLP — GDS HLDGS LTD GDS: Quarterly 13F Position History
Carrhae Capital LLP has reported GDS HLDGS LTD (GDS) on 15 13F-HR filings in Pactolio's tracked window, first appearing in Q3 2021. As of Q1 2026, the position is sized at 2,184,662 shares ($88.0M market value, 6.21% of the equity book). Quarter-over-quarter share count change: + 17,463 (+0.8%) .
- 2,184,662Shares Held (Latest Filing)
- $88.0MReported Market Value (Latest Filing)
- 6.21%Portfolio Weight (% of 13F Equity Book)
- +17,463Quarter-over-Quarter Share Change
- +$12.4MQuarter-over-Quarter Value Change
- 2,184,662Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 15 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 2,184,662 | +17,463 | +0.8% | $88.0M | 6.21% | $40.29 |
| Q4 2025 | 2,167,199 | +518,921 | +31.5% | $75.6M | 5.04% | $34.90 |
| Q3 2025 | 1,648,278 | +1,231,375 | +295.4% | $63.8M | 6.06% | $38.70 |
| Q2 2025 | 416,903 | +416,903 | — | $12.7M | 1.22% | $30.57 |
| Q1 2025 | 0 | 0 | — | $0 | 0.00% | — |
| Q4 2024 | 0 | 0 | — | $0 | 0.00% | — |
| Q3 2023 | 0 | 0 | — | $0 | 0.00% | — |
| Q2 2023 | 0 | 0 | — | $0 | 0.00% | — |
| Q1 2023 | 0 | 0 | — | $0 | 0.00% | — |
| Q4 2022 | 0 | 0 | — | $0 | 0.00% | — |
| Q3 2022 | 0 | 0 | — | $0 | 0.00% | — |
| Q2 2022 | 0 | 259,164 | -100.0% | $0 | 0.00% | — |
| Q1 2022 | 259,164 | +259,164 | — | $10.2M | 4.64% | $39.25 |
| Q4 2021 | 0 | 334,228 | -100.0% | $0 | 0.00% | — |
| Q3 2021 | 334,228 | — | — | $18.9M | 16.06% | $56.61 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares — a quarter-end mark, not the manager's cost basis. See the full methodology document for the normalization rules.
When did Carrhae Capital LLP first disclose a GDS position in 13F-HR filings?
Carrhae Capital LLP first reported GDS HLDGS LTD (GDS) on its 13F-HR filing for the period ending 2021-09-30 (Q3 2021). The position has appeared on 15 reported quarters within Pactolio's tracked window.
What was Carrhae Capital LLP's most recent quarter-over-quarter share-count change in GDS?
Between Q4 2025 and Q1 2026, Carrhae Capital LLP added 17,463 shares of GDS (+0.8%), bringing the total reported position to 2,184,662 shares at a market value of $88.0M.
Does the implied price-per-share represent Carrhae Capital LLP's cost basis in GDS?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.