# MARTIN CURRIE LTD

> Institutional holdings reported to the SEC as of Q2 2025 on Form 13F. CIK 1094499. Source: https://holderbook.com/funds/1094499-martin-currie-ltd/

- Reported value: $2.6B
- Positions: 51
- Weight of the ten largest: 60.8%
- Filed: 2025-08-12

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $249.0M | 1,099,359 | 9.5% | 27 |
| HDFC BANK LTD | [HDB](https://holderbook.com/stocks/HDB/) | $217.7M | 2,838,942 | 8.3% | 27 |
| FERRARI N V | [RACE](https://holderbook.com/stocks/RACE/) | $182.6M | 372,710 | 7.0% | 27 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $165.6M | 332,849 | 6.3% | 27 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $152.4M | 964,719 | 5.8% | 18 |
| ALIBABA GROUP HLDG LTD | [BABA](https://holderbook.com/stocks/BABA/) | $149.1M | 1,314,941 | 5.7% | 27 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $147.5M | 314,341 | 5.7% | 10 |
| ICICI BANK LIMITED | [IBN](https://holderbook.com/stocks/IBN/) | $137.2M | 4,078,097 | 5.3% | 25 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $95.2M | 36,415 | 3.6% | 9 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $88.4M | 157,379 | 3.4% | 27 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $85.7M | 116,065 | 3.3% | 3 |
| VEEVA SYS INC | [VEEV](https://holderbook.com/stocks/VEEV/) | $69.0M | 239,579 | 2.6% | 20 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $68.6M | 334,550 | 2.6% | 4 |
| METTLER TOLEDO INTERNATIONAL | [MTD](https://holderbook.com/stocks/MTD/) | $64.1M | 54,591 | 2.5% | 27 |
| CADENCE DESIGN SYSTEM INC | [CDNS](https://holderbook.com/stocks/CDNS/) | $62.5M | 202,957 | 2.4% | 7 |
| AUTODESK INC | [ADSK](https://holderbook.com/stocks/ADSK/) | $56.5M | 182,642 | 2.2% | 17 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $54.5M | 153,411 | 2.1% | 27 |
| ISHARES TR | [KSA](https://holderbook.com/stocks/KSA/) | $53.8M | 1,395,679 | 2.1% | 14 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $48.6M | 311,872 | 1.9% | 26 |
| IDEXX LABS INC | [IDXX](https://holderbook.com/stocks/IDXX/) | $44.1M | 82,254 | 1.7% | 7 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $42.9M | 195,406 | 1.6% | 27 |
| JD.COM INC | [JD](https://holderbook.com/stocks/JD/) | $36.5M | 1,119,082 | 1.4% | 19 |
| DECKERS OUTDOOR CORP | [DECK](https://holderbook.com/stocks/DECK/) | $35.9M | 347,862 | 1.4% | 3 |
| RESMED INC | [RMD](https://holderbook.com/stocks/RMD/) | $35.1M | 136,131 | 1.3% | 26 |
| MAKEMYTRIP LIMITED MAURITIUS | [MMYT](https://holderbook.com/stocks/MMYT/) | $33.2M | 338,538 | 1.3% | 3 |
| CHIPOTLE MEXICAN GRILL INC | [CMG](https://holderbook.com/stocks/CMG/) | $32.9M | 585,342 | 1.3% | 3 |
| TRIP COM GROUP LTD | [TCOM](https://holderbook.com/stocks/TCOM/) | $32.6M | 555,578 | 1.2% | 5 |
| INTER & CO INC | [INTR](https://holderbook.com/stocks/INTR/) | $28.0M | 3,773,950 | 1.1% | 1 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $26.9M | 34,544 | 1.0% | 4 |
| EPAM SYS INC | [EPAM](https://holderbook.com/stocks/EPAM/) | $22.0M | 124,255 | 0.8% | 27 |
| CRH PLC | [CRH](https://holderbook.com/stocks/CRH/) | $16.9M | 182,500 | 0.6% | 8 |
| SYNOPSYS INC | [SNPS](https://holderbook.com/stocks/SNPS/) | $14.2M | 27,790 | 0.5% | 3 |
| GLOBANT S A | [GLOB](https://holderbook.com/stocks/GLOB/) | $13.2M | 144,881 | 0.5% | 13 |
| ANSYS INC | [ANSS](https://holderbook.com/stocks/ANSS/) | $9.5M | 26,980 | 0.4% | 23 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $8.6M | 46,708 | 0.3% | 2 |
| DEXCOM INC | [DXCM](https://holderbook.com/stocks/DXCM/) | $8.3M | 94,523 | 0.3% | 5 |
| COPART INC | [CPRT](https://holderbook.com/stocks/CPRT/) | $7.6M | 154,469 | 0.3% | 5 |
| INFOSYS LTD | [INFY](https://holderbook.com/stocks/INFY/) | $6.4M | 343,767 | 0.2% | 8 |
| ISHARES INC | [EWY](https://holderbook.com/stocks/EWY/) | $1.2M | 16,133 | 0.0% | 27 |
| FRANKLIN TEMPLETON ETF TR | [FLSA](https://holderbook.com/stocks/FLSA/) | $525.5K | 15,985 | 0.0% | 9 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $473.9K | 872 | 0.0% | 9 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $365.0K | 6,080 | 0.0% | 17 |
| VALMONT INDS INC | [VMI](https://holderbook.com/stocks/VMI/) | $340.6K | 1,043 | 0.0% | 9 |
| ECOLAB INC | [ECL](https://holderbook.com/stocks/ECL/) | $317.4K | 1,178 | 0.0% | 9 |
| XYLEM INC | [XYL](https://holderbook.com/stocks/XYL/) | $309.8K | 2,395 | 0.0% | 9 |
| REVVITY INC | [RVTY](https://holderbook.com/stocks/RVTY/) | $288.5K | 2,983 | 0.0% | 9 |
| TYLER TECHNOLOGIES INC | [TYL](https://holderbook.com/stocks/TYL/) | $273.9K | 462 | 0.0% | 6 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $257.8K | 507 | 0.0% | 9 |
| UL SOLUTIONS INC | [ULS](https://holderbook.com/stocks/ULS/) | $253.1K | 3,474 | 0.0% | 1 |
| STRIDE INC | [LRN](https://holderbook.com/stocks/LRN/) | $239.0K | 1,646 | 0.0% | 7 |
| VERRA MOBILITY CORP | [VRRM](https://holderbook.com/stocks/VRRM/) | $200.9K | 7,912 | 0.0% | 7 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2025 | +11.0% | +10.5% | +0.5% | 100% |
| Q1 2025 | -3.8% | -4.6% | +0.7% | 100% |
| Q4 2024 | -1.4% | +2.1% | -3.5% | 97% |
| Q3 2024 | +8.5% | +5.4% | +3.0% | 100% |
| Q2 2024 | +2.8% | +4.0% | -1.2% | 100% |
| Q1 2024 | +12.6% | +10.0% | +2.5% | 100% |
| Q4 2023 | +12.1% | +11.2% | +0.9% | 100% |
| Q3 2023 | -8.4% | -3.6% | -4.8% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2025 | $2.6B | 51 |
| Q1 2025 | $2.5B | 56 |
| Q4 2024 | $2.7B | 53 |
| Q3 2024 | $2.8B | 51 |
| Q2 2024 | $2.8B | 54 |
| Q1 2024 | $3.3B | 51 |
| Q4 2023 | $3.0B | 51 |
| Q3 2023 | $2.8B | 46 |
| Q2 2023 | $3.0B | 44 |
| Q1 2023 | $2.8B | 36 |
| Q4 2022 | $2.6B | 35 |
| Q3 2022 | $2.4B | 36 |