Returns–Not enough quarters yet
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| BBDBanco Bradesco S A | $649.0M | 35.8% | +19.2% |
| YPFYpf Sociedad Anonima | $565.9M | 31.2% | +37.9% |
| GGALGrupo Financiero Galicia S.a | $175.9M | 9.7% | +48.9% |
| Nu Hldgs LtdCUSIP G6683N103 | $119.9M | 6.6% | +797.8% |
| BMABanco Macro S A | $78.0M | 4.3% | +58.2% |
| GGBGerdau Sa | $67.6M | 3.7% | |
| BSBRBanco Santander Brasil S A | $54.6M | 3.0% | +5.9% |
| BBARBanco Bbva Argentina S A | $33.4M | 1.8% | +37.7% |
| Pagaya Technologies LtdCUSIP M7S64L123 | $32.3M | 1.8% | New |
| ORMPOramed Pharmaceuticals Inc | $12.1M | 0.7% | +18.9% |
| Alpha Tau Medical LtdCUSIP M0740A108 | $9.1M | 0.5% | |
| CSANYCosan S A | $6.0M | 0.3% | |
| Innoviz Technologies LtdCUSIP M5R635108 | $4.4M | 0.2% | +12.6% |
| Pulsenmore LtdCUSIP M8S7C5117 | $2.0M | 0.1% | |
| TGSTransportadora De Gas Del Su | $883K | 0.0% | |
| CEPUCentral Puerto S A | $287K | 0.0% | |
| Valens Semiconductor LtdCUSIP M9607U107 | $16K | 0.0% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| BBARBanco Bbva Argentina S A | September 30, 2025 | +135.7% | $33.4M |
| BMABanco Macro S A | September 30, 2025 | +118.9% | $78.0M |
| YPFYpf Sociedad Anonima | September 30, 2025 | +87.2% | $565.9M |
| CEPUCentral Puerto S A | September 30, 2025 | +85.5% | $287K |
| ORMPOramed Pharmaceuticals Inc | September 30, 2025 | +82.2% | $12.1M |
| GGALGrupo Financiero Galicia S.a | September 30, 2025 | +81.5% | $175.9M |
| Alpha Tau Medical LtdCUSIP M0740A108 | March 31, 2026 | +77.9% | $9.1M |
| Pulsenmore LtdCUSIP M8S7C5117 | March 31, 2026 | +48.7% | $2.0M |
| TGSTransportadora De Gas Del Su | September 30, 2025 | +41.4% | $883K |
| GGBGerdau Sa | September 30, 2025 | +30.3% | $67.6M |
Sold off last quarter
- Proshares Tr IICUSIP 74347Y797 was $28.3M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | −0.7% | +14.8% |
| March 31, 2026 | +10.5% | −4.6% |
| December 31, 2025 | +23.3% | +2.4% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Aquamarine Financial (Cayman) Ltd Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=2104187&type=13F-HR&dateb=&owner=include&count=40CIK 2104187
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/2104187/000149315226037413/Filed August 12, 2026 · accession 0001493152-26-037413