Somerset Capital Management LLP Q2 2023 vs. Q3 2023 13F Holdings Comparison

IBN: ICICI Bank ADR

INFY: Infosys Limited ADR

MELI: MercadoLibre Inc

YUMC: Yum China Holdings Inc

FCX: Freeport-McMoRan Inc

KB: KB Financial Group Inc-Adr

CPA: Copa Holdings

WDH: Waterdrop Inc

SE: Sea Ltd

YNDX: Yandex Nv-A

In the fast-paced world of investments, it is crucial for fund managers to stay on top of their game. Somerset Capital Management LLP recognizes this need and regularly analyzes their 13F holdings. Just recently, they compared their Q2 2023 and Q3 2023 numbers to identify any significant changes. Let's dive into the details and see how these holdings have evolved.

ICICI Bank ADR has been a strong investment for Somerset Capital Management LLP, with a significant increase in shares from 8,701,526 to 9,210,826. This change indicates a 6.1% growth in their holdings. The value of these shares also increased from $200,000 to $212,000, further solidifying the positive performance of this investment.

Another notable change is observed in the holdings of Infosys Limited ADR. Somerset Capital Management LLP saw a rise in shares from 7,294,571 to 7,734,971, representing a 13% increase. The value of this investment also witnessed a growth from $116,000 to $131,000. This impressive surge indicates a promising future for the company and its partnership with Somerset Capital Management LLP.

MercadoLibre Inc experienced a slight decline in shares from 73,144 to 68,844, accounting for a 0.8% decrease. However, the value of this investment remained relatively stable, with only a minor decrease from $86,000 to $87,000. Although the numbers dipped slightly, it doesn't necessarily indicate a cause for concern.

Somerset Capital Management LLP also held shares in Yum China Holdings Inc, which witnessed a significant decrease in shares from 1,767,035 to 1,503,835. This change represents a notable decrease of 16.1% in their holdings. Similarly, the value of this investment also dropped from $99,000 to $83,000, aligning with the decrease in shares and reflecting a similar negative trend in the market.

Another company that experienced a decline in Somerset Capital Management LLP's holdings is Freeport-McMoRan Inc. The shares of this investment decreased from 1,781,719 to 1,740,019, indicating an 8.9% decrease. However, the value remained relatively stable, with a minor decrease from $71,000 to $64,000. This suggests that Freeport-McMoRan Inc's stock might have faced some challenges during this period.

KB Financial Group Inc-Adr maintained a consistent number of shares, with no change from 82,167. However, there was a slight increase in its value, from $2,000 to $3,000. This positive shift acknowledges the stability of this investment and the confidence Somerset Capital Management LLP has in KB Financial Group Inc-Adr.

In contrast to the majority of holdings, Copa Holdings experienced a significant decrease in both shares and value. The number of shares fell from 30,500 to 20,500, representing a massive drop of 45.8%. Additionally, the value of this investment plummeted from $3,000 to $1,000. These figures indicate a challenging period for Copa Holdings and a decision made by Somerset Capital Management LLP to reduce their exposure to this company.

Waterdrop Inc remained unchanged in terms of shares and value, with 121,700 shares and a value of $0. Although no growth or decline was observed, it is essential to keep an eye on Waterdrop Inc to see if any future changes occur.

Sea Ltd, on the other hand, went through a significant shift in terms of shares and value. Somerset Capital Management LLP held 869,499 shares in Q2 2023, only to liquidate their entire holding in Q3 2023, resulting in zero shares. The value of this investment also dropped from $50,000 to $0. This decision by Somerset Capital Management LLP indicates their reevaluation of Sea Ltd as an investment opportunity.

Yandex Nv-A was another company that experienced a complete divestment by Somerset Capital Management LLP in Q3 2023. The fund manager held 2,475,433 shares in Q2 2023 but completely exited their position in Q3 2023. Consequently, the shares dropped to zero, along with the value becoming $0. This move suggests that Somerset Capital Management LLP shifted their focus to other investment opportunities, leading to the withdrawal from Yandex Nv-A.

In conclusion, Somerset Capital Management LLP's Q2 2023 vs. Q3 2023 13F holdings comparison reveals some interesting trends in their portfolio. While they continue to strengthen their positions in ICICI Bank ADR and Infosys Limited ADR, they made the decision to reduce their exposure to Yum China Holdings Inc and Freeport-McMoRan Inc. Additionally, they divested entirely from Sea Ltd and Yandex Nv-A, indicating their strategic reallocation of assets. It will be intriguing to see how these decisions affect their portfolio in the upcoming quarters.