Q3 2025 · 13F-HR
Aquamarine Financial (Cayman) Ltdholdings as filed
Filed 2026-01-12 · accession 0001493152-26-001866
$974.7M
Reported value
11
Positions
2025-09-30
Period end
The Brief · Aquamarine Financial (Cayman) Ltd · Q3 2025
AI · grounded in 13F
Aquamarine Financial (Cayman) Ltd established a new position in BBD valued at $477.1M. The fund also initiated a new stake in YPF for $315.1M. Additional new positions include GGB at $55.2M and BSBR at $50.3M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 059460303 | BBD | BANCO BRADESCO S A | $477.1M | 49.0% | 137,533,653 | Common | SOLE |
| 984245100 | YPF | YPF SOCIEDAD ANONIMA | $315.1M | 32.3% | 12,973,695 | Common | SOLE |
| 373737105 | GGB | GERDAU SA | $55.2M | 5.66% | 17,801,228 | Common | SOLE |
| 05967A107 | BSBR | BANCO SANTANDER BRASIL S A | $50.3M | 5.16% | 8,995,322 | Common | SOLE |
| 399909100 | GGAL | GRUPO FINANCIERO GALICIA S.A | $36.7M | 3.77% | 1,325,000 | Common | SOLE |
| 05961W105 | BMA | BANCO MACRO SA | $19.3M | 1.98% | 455,961 | Common | SOLE |
| 22113B103 | CSAN | COSAN S A | $10.3M | 1.06% | 2,241,053 | Common | SOLE |
| 68403P203 | ORMP | ORAMED PHARMACEUTICALS INC | $5.2M | 0.53% | 1,973,057 | Common | SOLE |
| 058934100 | BBAR | BANCO BBVA ARGENTINA S A | $4.7M | 0.48% | 560,000 | Common | SOLE |
| 893870204 | TGS | TRANSPORTADORA DE GAS SUR | $624,507 | 0.06% | 29,696 | Common | SOLE |
| 155038201 | CEPU | CENTRAL PUERTO S A | $154,705 | 0.02% | 19,314 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.