# Aquamarine Financial (Cayman) Ltd: Form 13F holdings

An institutional investment manager in Grand Cayman. SEC CIK 2104187.

- Quarter ended: 2026-06-30
- Filed: 2026-08-12
- Reported value: $1.81bn
- Positions: 17 (17 lines in the filing's table; lines for the same security and option type are added together here)
- Compared with: the 13F for the quarter ended 2026-03-31
- Filing: https://www.sec.gov/Archives/edgar/data/2104187/000149315226037413/

## Holdings

As filed, largest first. Reported value is what the manager stated at the quarter end (Jun 30, 2026), in US dollars; it is filing data, not a price. Weight is the share of the total reported value.

| Issuer | Class | Reported value | Weight | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | ---: | --- | --- |
| [BANCO BRADESCO S A (BBD)](/companies/bbd.md) | SP ADR PFD NEW | $649.0m | 35.8% | 186,948,134 |  | Added +30,100,000 |
| [YPF SOCIEDAD ANONIMA (YPF)](/companies/ypf.md) | SPON ADR CL D | $565.9m | 31.2% | 12,444,948 |  | Added +3,418,273 |
| [GRUPO FINANCIERO GALICIA S.A (GGAL)](/companies/ggal.md) | SPONSORED ADR | $175.9m | 9.7% | 3,515,564 |  | Added +1,154,582 |
| NU HLDGS LTD | ORD SHS CL A | $119.9m | 6.6% | 8,977,636 |  | Added +7,977,636 |
| [BANCO MACRO S A (BMA)](/companies/bma.md) | SPON ADR B | $78.0m | 4.3% | 842,490 |  | Added +310,000 |
| [GERDAU SA (GGB)](/companies/ggb.md) | SPON ADR REP PFD | $67.6m | 3.7% | 16,726,171 |  | Unchanged |
| [BANCO SANTANDER BRASIL S A (BSBR)](/companies/bsbr.md) | ADS REP 1 UNIT | $54.6m | 3.0% | 10,394,184 |  | Added +576,259 |
| [BANCO BBVA ARGENTINA S A (BBAR)](/companies/bbar.md) | SPONSORED ADS | $33.4m | 1.8% | 1,701,078 |  | Added +465,756 |
| PAGAYA TECHNOLOGIES LTD | CL A NEW | $32.3m | 1.8% | 1,771,209 |  | New +1,771,209 |
| [ORAMED PHARMACEUTICALS INC (ORMP)](/companies/ormp.md) | COM NEW | $12.1m | 0.7% | 2,512,175 |  | Added +399,863 |
| ALPHA TAU MEDICAL LTD | ORDINARY SHARES | $9.1m | 0.5% | 721,501 |  | Unchanged |
| [COSAN S A (CSANY)](/companies/csany.md) | ADS | $6.0m | 0.3% | 2,096,904 |  | Unchanged |
| INNOVIZ TECHNOLOGIES LTD | SHS | $4.4m | 0.2% | 5,828,949 |  | Added +651,671 |
| PULSENMORE LTD | ORD SHS | $2.0m | 0.1% | 338,541 |  | Unchanged |
| [TRANSPORTADORA DE GAS DEL SU (TGS)](/companies/tgs.md) | SPONSORED ADS B | $882.9k | <0.1% | 29,696 |  | Unchanged |
| [CENTRAL PUERTO S A (CEPU)](/companies/cepu.md) | SPONSORED ADR | $287.0k | <0.1% | 19,314 |  | Unchanged |
| VALENS SEMICONDUCTOR LTD | \*W EXP 09/30/202 | $15.7k | <0.1% | 559,653 |  | Unchanged |

## Sold out

Held at the end of the quarter before and not reported this quarter.

| Issuer | Class | Reported value | Weight | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | ---: | --- | --- |
| PROSHARES TR II | ULSHT BLOOMB OIL | $0 | 0.0% | 0 |  | Sold out −3,400,000 |

Source: SEC EDGAR, Form 13F-HR, accession 0001493152-26-037413. Last ingested by Listed: Oct 22, 2026, 05:26 ET. No prices; not investment advice.