Carrhae Capital LLP CPA — COPA HOLDINGS SA

Ownership history in Carrhae Capital LLP  ·  5 quarters on record

AI Ownership Summary

Carrhae Capital LLP reported COPA HOLDINGS SA (CPA) in 5 quarterly 13F filings from 2024 Q4 through 2026 Q1. Peak portfolio weight reached 5.26% in 2025 Q1. The latest visible filing shows CPA at 1.76% of the fund.

This page tracks quarterly shares, estimated market value, portfolio weight, filing dates, and disclosure-aligned stock prices directly from SEC EDGAR 13F filings.

What this CPA ownership page tells you

This page is designed to answer the real investor question behind a 13F filing: how meaningful was Carrhae Capital LLP's position in COPA HOLDINGS SA, and how did that conviction change over time? You can read the holding window, peak weight, latest reported size, disclosure timing, and quarter-by-quarter changes without piecing the story together from raw SEC rows.

Freshest filing
Latest Reported Filing
2026 Q1

CPA was reported at 1.76% of portfolio in the most recent visible filing.

High-water mark
Peak Conviction
5.26% in 2025 Q1

Peak weight helps separate a token disclosure from a real conviction holding the fund genuinely cared about.

Time in book
Holding Window
2024 Q4 to 2026 Q1

Longer holding windows often tell a very different story from short-lived tactical trades or one-quarter experiments.

Decision context
Why It Matters
Position size beats headlines

Knowing that a fund owned a stock is useful. Knowing whether it was a 0.20% placeholder or a true high-conviction position is where the signal actually starts.

CPA stock page Carrhae Capital LLP fund profile Carrhae Capital LLP full holdings
How Carrhae Capital LLP held CPA — position size vs. price
% of Fund (quarterly)    CPA price (quarter-end, indexed to 100)    SPY (indexed to 100)    QQQ (indexed to 100)
📋 Quarterly Holdings History 5 quarters  ▾
Quarter Action Sold % After 3M Timing Shares Change Chg % % of Fund Mkt Value Filed Price (Filed)
2026 Q1 ADDED — — — 518,114 +393,397 +315.4% 1.76% $58.9M 2026-05-14 $135.51
2025 Q4 REDUCED 75.6% -4.7% ✅ 124,717 -387,426 -75.6% 0.57% $15.0M 2026-02-06 $152.31
2025 Q2 REDUCED 34.2% +9.9% ❌ 512,143 -265,786 -34.2% 4.12% $56.3M 2025-08-05 $106.01
2025 Q1 ADDED — — — 777,929 +76,062 +10.8% 5.26% $71.9M 2025-05-02 $89.48
2024 Q4 INITIATED — — — 701,867 — — 5.16% $61.7M 2025-02-11 $83.39

🏢 Other funds also holding CPA

As of 2026 Q1 — sorted by position size

Wishbone Management, LP 3Y 39.59% SPRUCEGROVE INVESTMENT MANAGEMENT LTD 3Y 7Y 30.88% INCA Investments LLC 3Y 7Y 9.56% Virtus Family Office LLC 3Y 4.42% Cape Ann Asset Management Ltd 3Y 3.95% Fourth Sail Capital LP 2.55% 1492 Capital Management LLC 3Y 7Y 2.32% Lifetime Wealth Management P.C. 2.26% SPX Gestao de Recursos Ltda 3Y 7Y 2.12% Shellback Capital, LP 3Y 7Y 1.94%

FAQ About Carrhae Capital LLP and CPA

These are the practical questions this page is built to answer before you even open the full history table.

How long has Carrhae Capital LLP reported owning CPA?

Carrhae Capital LLP reported CPA across 5 quarterly 13F filings, from 2024 Q4 through 2026 Q1.

What was the largest reported CPA position in Carrhae Capital LLP's portfolio?

The largest reported portfolio weight for CPA was 5.26% in 2025 Q1.

What is the latest reported CPA position on this page?

The most recent filing on this page is 2026 Q1, when Carrhae Capital LLP reported 518,114 shares, equal to 1.76% of portfolio, with an estimated market value of $58.9M.

What does the chart on this CPA ownership page compare?

The chart compares Carrhae Capital LLP's quarterly CPA portfolio weight with the stock's indexed share price, so you can see whether the fund was building, trimming, or holding the position as price moved.

How well did Carrhae Capital LLP time their CPA position?

Based on 13F filing dates vs. subsequent CPA price moves, Carrhae Capital LLP correctly timed 3 out of 4 reported position changes (75%). The annualised alpha on CPA relative to SPY over the holding period was +23.0%.

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