MARTIN CURRIE LTD

EDINBURGH, X0 · CIK 1094499 · 13F filing filed 2025-08-12

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$2.6bn reported value +5.2% vs Q1 2025

51positions

60.8%in top 10

2 new 6 added 43 reduced 7 sold out vs Q1 2025

This report includes the holdings of 2 other managers that share the investment decisions:

CLEARBRIDGE INVESTMENT MANAGEMENT LTD – reports through this filing
MARTIN CURRIE INC – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	1,099,359	$249.0m9.55%	9.55%	Reduced -203.4k	-203,418 -15.6%
2	HDFC BANK LTD SPONSORED ADS HDB	HDB	2,838,942	$217.7m8.35%	8.35%	Reduced -33.7k	-33,710 -1.2%
3	FERRARI N V COM RACE	RACE	372,710	$182.6m7.00%	7.00%	Reduced -17.4k	-17,383 -4.5%
4	MICROSOFT CORP COM MSFT	MSFT	332,849	$165.6m6.35%	6.35%	Added +63.0k	+63,027 23.4%
5	NVIDIA CORPORATION COM NVDA	NVDA	964,719	$152.4m5.85%	5.85%	Reduced -98.0k	-98,003 -9.2%
6	ALIBABA GROUP HLDG LTD SPONSORED ADS BABA	BABA	1,314,941	$149.1m5.72%	5.72%	Reduced -111.1k	-111,123 -7.8%
7	LINDE PLC SHS LIN	LIN	314,341	$147.5m5.66%	5.66%	Reduced -11.0k	-10,964 -3.4%
8	ICICI BANK LIMITED ADR IBN	IBN	4,078,097	$137.2m5.26%	5.26%	Reduced -98.4k	-98,430 -2.4%
9	MERCADOLIBRE INC COM MELI	MELI	36,415	$95.2m3.65%	3.65%	Reduced -958	-958 -2.6%
10	MASTERCARD INCORPORATED CL A MA	MA	157,379	$88.4m3.39%	3.39%	Reduced -4.0k	-3,985 -2.5%
11	META PLATFORMS INC CL A META	META	116,065	$85.7m3.29%	3.29%	Reduced -2.6k	-2,614 -2.2%
12	VEEVA SYS INC CL A COM VEEV	VEEV	239,579	$69.0m2.65%	2.65%	Reduced -8.5k	-8,519 -3.4%
13	APPLE INC COM AAPL	AAPL	334,550	$68.6m2.63%	2.63%	Reduced -7.5k	-7,486 -2.2%
14	METTLER TOLEDO INTERNATIONAL COM MTD	MTD	54,591	$64.1m2.46%	2.46%	Reduced -3.4k	-3,401 -5.9%
15	CADENCE DESIGN SYSTEM INC COM CDNS	CDNS	202,957	$62.5m2.40%	2.40%	Reduced -15.8k	-15,814 -7.2%
16	AUTODESK INC COM ADSK	ADSK	182,642	$56.5m2.17%	2.17%	Reduced -53.7k	-53,703 -22.7%
17	VISA INC COM CL A V	V	153,411	$54.5m2.09%	2.09%	Added +17.3k	+17,324 12.7%
18	ISHARES TR MSCI SAUDI ARBIA KSA	KSA	1,395,679	$53.8m2.06%	2.06%	Added +601.2k	+601,208 75.7%
19	ZOETIS INC CL A ZTS	ZTS	311,872	$48.6m1.87%	1.87%	Added +8.8k	+8,809 2.9%
20	IDEXX LABS INC COM IDXX	IDXX	82,254	$44.1m1.69%	1.69%	Added +3.0k	+3,039 3.8%
21	AMAZON COM INC COM AMZN	AMZN	195,406	$42.9m1.64%	1.64%	Reduced -1.5k	-1,526 -0.8%
22	JD.COM INC SPON ADS CL A JD	JD	1,119,082	$36.5m1.40%	1.40%	Reduced -302.8k	-302,826 -21.3%
23	DECKERS OUTDOOR CORP COM DECK	DECK	347,862	$35.9m1.37%	1.37%	Reduced -8.3k	-8,349 -2.3%
24	RESMED INC COM RMD	RMD	136,131	$35.1m1.35%	1.35%	Reduced -4.8k	-4,803 -3.4%
25	MAKEMYTRIP LIMITED MAURITIUS SHS MMYT	MMYT	338,538	$33.2m1.27%	1.27%	Reduced -11.0k	-10,971 -3.1%
26	CHIPOTLE MEXICAN GRILL INC COM CMG	CMG	585,342	$32.9m1.26%	1.26%	Reduced -14.1k	-14,098 -2.4%
27	TRIP COM GROUP LTD ADS TCOM	TCOM	555,578	$32.6m1.25%	1.25%	Reduced -430.9k	-430,911 -43.7%
28	INTER & CO INC CLASS A COM INTR	INTR	3,773,950	$28.0m1.08%	1.08%	New
29	ELI LILLY & CO COM LLY	LLY	34,544	$26.9m1.03%	1.03%	Reduced -298	-298 -0.9%
30	EPAM SYS INC COM EPAM	EPAM	124,255	$22.0m0.84%	0.84%	Reduced -3.2k	-3,209 -2.5%
31	CRH PLC ORD CRH	CRH	182,500	$16.9m0.65%	0.65%	Reduced -47.0k	-47,000 -20.5%
32	SYNOPSYS INC COM SNPS	SNPS	27,790	$14.2m0.55%	0.55%	Reduced -280	-280 -1.0%
33	GLOBANT S A COM GLOB	GLOB	144,881	$13.2m0.50%	0.50%	Reduced -151.0k	-150,980 -51.0%
34	ANSYS INC COM ANSS	ANSS	26,980	$9.5m0.36%	0.36%	Reduced -160	-160 -0.6%
35	APPLIED MATLS INC COM AMAT	AMAT	46,708	$8.6m0.33%	0.33%	Reduced -266	-266 -0.6%
36	DEXCOM INC COM DXCM	DXCM	94,523	$8.3m0.32%	0.32%	Reduced -548	-548 -0.6%
37	COPART INC COM CPRT	CPRT	154,469	$7.6m0.29%	0.29%	Reduced -896	-896 -0.6%
38	INFOSYS LTD SPONSORED ADR INFY	INFY	343,767	$6.4m0.24%	0.24%	Reduced -487.1k	-487,116 -58.6%
39	ISHARES INC MSCI STH KOR ETF EWY	EWY	16,133	$1.2m0.04%	0.04%	Reduced -4.8k	-4,848 -23.1%
40	FRANKLIN TEMPLETON ETF TR FTSE SAUDI ARB FLSA	FLSA	15,985	$525.5k0.02%	0.02%	Added +6.9k	+6,857 75.1%
41	INTUITIVE SURGICAL INC COM NEW ISRG	ISRG	872	$473.9k0.02%	0.02%	Reduced -2.1k	-2,131 -71.0%
42	ISHARES INC CORE MSCI EMKT IEMG	IEMG	6,080	$365.0k0.01%	0.01%	Reduced -6.0k	-5,981 -49.6%
43	VALMONT INDS INC COM VMI	VMI	1,043	$340.6k0.01%	0.01%	Reduced -2.5k	-2,538 -70.9%
44	ECOLAB INC COM ECL	ECL	1,178	$317.4k0.01%	0.01%	Reduced -3.5k	-3,537 -75.0%
45	XYLEM INC COM XYL	XYL	2,395	$309.8k0.01%	0.01%	Reduced -6.7k	-6,732 -73.8%
46	REVVITY INC COM RVTY	RVTY	2,983	$288.5k0.01%	0.01%	Reduced -7.5k	-7,511 -71.6%
47	TYLER TECHNOLOGIES INC COM TYL	TYL	462	$273.9k0.01%	0.01%	Reduced -1.2k	-1,219 -72.5%
48	DEERE & CO COM DE	DE	507	$257.8k0.01%	0.01%	Reduced -1.3k	-1,260 -71.3%
49	UL SOLUTIONS INC CLASS A COM SHS ULS	ULS	3,474	$253.1k0.01%	0.01%	New
50	STRIDE INC COM LRN	LRN	1,646	$239.0k0.01%	0.01%	Reduced -4.1k	-4,076 -71.2%
51	VERRA MOBILITY CORP CL A COM STK VRRM	VRRM	7,912	$200.9k0.01%	0.01%	Reduced -19.2k	-19,210 -70.8%

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
LULULEMON ATHLETICA INC LULU	LULU	93,832	$26.6m93.8k shares
COSAN S A CSANY	CSANY	1,439,121	$7.5m1.4m shares
PLANET FITNESS INC PLNT	PLNT	5,277	$509.8k5.3k shares
ILLUMINA INC ILMN	ILMN	5,743	$455.6k5.7k shares
EXPONENT INC EXPO	EXPO	5,550	$449.9k5.5k shares
ENERGY RECOVERY INC ERII	ERII	17,012	$270.3k17.0k shares
COURSERA INC COUR	COUR	31,689	$211.0k31.7k shares