Aquamarine Financial (Cayman) Ltd 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Aquamarine Financial (Cayman) Ltd disclosed 13 US equity positions worth $1.2bn in its Q4 2025 13F filing. The largest position was BBD at 42.1% of the reported book, followed by YPF and GGAL. Against the Q3 2025 filing, it opened 2 new positions, added to 6 and reduced 2 among the top 13 holdings.
What did Aquamarine Financial (Cayman) Ltd own in Q4 2025? Top 13 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | BBD BANCO BRADESCO S A | Financial Services | 42.1% | $517.1m | 148,670,798 | 8% | added |
| 2 | YPF YPF SOCIEDAD ANONIMA | Energy | 30.9% | $379.4m | 10,492,557 | -19% | reduced |
| 3 | GGAL GRUPO FINANCIERO GALICIA S.A | Financial Services | 9.2% | $113.1m | 2,092,309 | 58% | added |
| 4 | GGB GERDAU SA | Basic Materials | 5.9% | $72.1m | 19,526,171 | 10% | added |
| 5 | BSBR BANCO SANTANDER BRASIL S A | Financial Services | 4.9% | $59.7m | 9,770,322 | 9% | added |
| 6 | BMA BANCO MACRO SA | Financial Services | 4.1% | $50.9m | 564,501 | 24% | added |
| 7 | BBAR BANCO BBVA ARGENTINA S A | 1.7% | $20.6m | 1,141,305 | 104% | added | |
| 8 | CSAN COSAN S A | Energy | 0.7% | $8.3m | 2,096,904 | -6% | reduced |
| 9 | ORMP ORAMED PHARMACEUTICALS INC | 0.5% | $5.6m | 1,973,057 | 0% | held | |
| 10 | TGS TRANSPORTADORA DE GAS SUR | Energy | 0.1% | $923.2k | 29,696 | 0% | held |
| 11 | CEPU CENTRAL PUERTO S A | 0.0% | $338.0k | 19,314 | 0% | held | |
| 12 | INVZ INNOVIZ TECHNOLOGIES LTD | 0.0% | $151.2k | 177,278 | – | new | |
| 13 | VALENS SEMICONDUCTOR LTD | 0.0% | $14.0k | 559,653 | – | new |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.