Q2 2026 13F · SEC CIK 2104187

Aquamarine Financial (Cayman) Ltd

Hedge fundFiled 2026-08-12 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $1.8B
Reported positions: 17
Holdings vs S&P 500, 3 yrs: —
Assets under management: $5.8B

Aquamarine Financial (Cayman) Ltd is a hedge fund that reported 17 positions worth $1.8B in its Q2 2026 13F, filed 2026-08-12. Its largest holdings were Banco Bradesco S A Sp (BBD, 35.8%), Ypf Sociedad Anonima (YPF, 31.2%), Grupo Financiero Galicia S.a (GGAL, 9.7%).

Aquamarine Financial (Cayman) Ltd holdings all 17 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Aquamarine Financial (Cayman) Ltd 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
BBDBanco Bradesco S A Sp	35.8%	43.1%	186,948,134	+19.2%	$649.0M
YPFYpf Sociedad Anonima	31.2%	30.6%	12,444,948	+37.9%	$565.9M
GGALGrupo Financiero Galicia S.a	9.7%	8.1%	3,515,564	+48.9%	$175.9M
NUNu Hldgs Ltd	6.6%	1.1%	8,977,636	+797.8%	$119.9M
BMABanco Macro S A	4.3%	3.0%	842,490	+58.2%	$78.0M
GGBGerdau SA	3.7%	4.4%	16,726,171	+0.0%	$67.6M
BSBRBanco Santander Brasil S A	3.0%	4.3%	10,394,184	+5.9%	$54.6M
BBARBanco Bbva Argentina S A	1.8%	1.5%	1,701,078	+37.7%	$33.4M
PGYPagaya Technologies Ltd	1.8%	New	1,771,209	—	$32.3M
ORMPOramed Pharmaceuticals Inc	0.7%	0.5%	2,512,175	+18.9%	$12.1M
DRTSAlpha Tau Medical Ltd	0.5%	0.4%	721,501	+0.0%	$9.1M
CSANYCosan S A	0.3%	0.6%	2,096,904	+0.0%	$6.0M
INVZInnoviz Technologies Ltd	0.2%	0.2%	5,828,949	+12.6%	$4.4M
PLSMPulsenmore Ltd	0.1%	0.1%	338,541	+0.0%	$2.0M
TGSTransportadora de Gas Del Su	0.0%	0.1%	29,696	+0.0%	$883K
CEPUCentral Puerto S A	0.0%	0.0%	19,314	+0.0%	$287K
M9607U107Valens Semiconductor Ltd	0.0%	0.0%	559,653	+0.0%	$16K

What Aquamarine Financial (Cayman) Ltd bought and sold in Q2 2026, against Q1 2026.

New positions

PGY Pagaya Technologies Ltd1.8% of 13F

Added to

NU Nu Hldgs Ltd+797.8% shares
BMA Banco Macro S A+58.2% shares
GGAL Grupo Financiero Galicia S.a+48.9% shares
YPF Ypf Sociedad Anonima+37.9% shares
BBAR Banco Bbva Argentina S A+37.7% shares
BBD Banco Bradesco S A Sp+19.2% shares
ORMP Oramed Pharmaceuticals Inc+18.9% shares
INVZ Innoviz Technologies Ltd+12.6% shares

Reduced

No position shrank by more than 5%.

Sold out

Proshares Tr IIwas 2.1%

Share counts compared with the Q1 2026 13F; a split also changes share counts.

How the holdings did against the S&P 500.

1 year: —
3 years: —
5 years: —

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$1.8B	17
Q1 2026	$1.4B	17
Q4 2025	$1.2B	13
Q3 2025	$974.7M	11

Questions about Aquamarine Financial (Cayman) Ltd's portfolio

What stocks does Aquamarine Financial (Cayman) Ltd own?

Aquamarine Financial (Cayman) Ltd's latest 13F, for Q2 2026 and filed Aug 12, 2026, lists 17 positions worth $1.8B. The largest are Banco Bradesco S A Sp (BBD) at 35.8%, Ypf Sociedad Anonima (YPF) at 31.2%, Grupo Financiero Galicia S.a (GGAL) at 9.7%, Nu Hldgs Ltd (NU) at 6.6% and Banco Macro S A (BMA) at 4.3%.

What did Aquamarine Financial (Cayman) Ltd buy last quarter?

In Q2 2026, Aquamarine Financial (Cayman) Ltd added a new position in Pagaya Technologies Ltd (PGY), Nu Hldgs Ltd (NU) (+797.8% shares), Banco Macro S A (BMA) (+58.2% shares) and Grupo Financiero Galicia S.a (GGAL) (+48.9% shares), compared with its Q1 2026 filing.

What did Aquamarine Financial (Cayman) Ltd sell last quarter?

In Q2 2026, Aquamarine Financial (Cayman) Ltd sold all of Proshares Tr II, compared with its Q1 2026 filing.

When is Aquamarine Financial (Cayman) Ltd's next 13F filing due?

13F filings are due 45 days after each quarter ends. Aquamarine Financial (Cayman) Ltd's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Aquamarine Financial (Cayman) Ltd manage?

Aquamarine Financial (Cayman) Ltd reported $5.8B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $1.8B.