Carrhae Capital 13F: Exits KE (BEKE) Stake

Carrhae Capital completely exited its position in KE Holdings Inc. BEKE, parting with 697,760 shares during the period. The total liquidation was disclosed in a Form 13F filing with the Securities and Exchange Commission on October 20, 2026. Prior to the sale, the fund held 697,760 shares of the real estate platform.

BEKE KE Holdings Inc.

$18.06 ▲ +14.52% year to date

1M 3M YTD

Daily close · Oct 20, 2026

What Changed in Carrhae Capital's KE Holdings Position

The fund's complete exit reduced its holdings by 697,760 shares, bringing its end-of-period stake to zero. Because the position was entirely sold off, it represents a 100.0% reduction from the previous quarter.

Other Institutional Activity in KE Holdings

Other large investors made significant moves with the stock around the same time. Pzena Investment Management LLC grew its holdings by 4,438,822 shares, ending with 8,877,643 shares worth about $160.3 million. Baird Financial Group, Inc. grew its holdings by 324,709 shares, ending with 5,942,507 shares worth about $107.3 million. Schroder Investment Management Group grew its holdings by 247,091 shares, ending with 5,850,059 shares worth about $105.7 million. H Capital V GP, LP held steady with 4,948,245 shares worth about $89.4 million after changing its stake by 0 shares. Meanwhile, Renaissance Technologies, LLC reduced its holdings by 456,826 shares, ending with 4,403,023 shares worth about $79.5 million.

KE Holdings Inc. Stock Up 0.8%

The stock recently traded around $18.06 as of October 21, 2026, sitting up about 5.3% above its 50-day moving average of $17.15 and 7.2% above its 200-day moving average of $16.84. Shares trade roughly 9.2% below their 52-week high of $19.88 and well above their 52-week low of $13.81. The company carries a market capitalization of roughly $19.8 billion and a trailing P/E ratio of 30.1.

Recent Earnings

For its trailing twelve months, the company posted revenue of $88.7 billion and earnings of $0.60 per share, alongside a year-over-year revenue decline of 5.7%. Profitability metrics show a net margin of 5.3% and a return on equity of 7.0%. The company's next earnings report is scheduled for November 10, 2026.

Dividend

KE Holdings pays an annual dividend of $0.28 per share, which gives it a dividend yield of 1.53%. The payout ratio sits at 46.4% of earnings.

Analysts Set New Price Targets

On August 19, 2026, CLSA initiated coverage on the stock with an Outperform rating and a $23.80 price target. Across Wall Street, the stock holds a consensus strong buy rating from 20 analysts, with a mean price target of $24.02.

About KE Holdings

Based in Beijing, China, KE Holdings operates an integrated online and offline platform for housing transactions and services. Its operations span existing and new home transaction services, home renovation and furnishing, rental services, and other emerging offerings. Institutional interest remains high as the company prepares for its upcoming financial updates.

Bottom Line

Investors will watch how the stock behaves as it approaches the November 10 earnings release. Future regulatory and filing updates will provide more clarity on how institutional managers view the company's valuation.