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Disclosery

Aquamarine Financial (Cayman) Ltd

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13F filer, CIK 2104187, Grand Cayman, Cayman Islands

Aquamarine Financial (Cayman) Ltd reported $1,228,198,942 across 13 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-01-28. Its ten largest share positions make up 99.96% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001493152-26-004011

Period
2025-12-31
Reported value
$1.23B
Holdings
13
Top 10 weight
99.96%
New
2
Sold out
0

Stakes and trades reported after 2025-12-31

13D, 13G and Form 4 filings by this filer's group, dated after the 13F period, on securities the quarter does not hold as shares.

  • PLSM PULSENMORE LTD: 13G 338,541 shares, 5.02% of the class, 13G filed 2026-10-08, 0001493152-26-046362Timeline
    Accepted , ingested

Largest buys vs the previous quarter

SecurityShares changeApprox. value
GGALadded+767,309$41.5M
BBDadded+11,137,145$38.7M
BBARadded+581,305$10.5M
BMAadded+108,540$9.79M
GGBadded+1,724,943$6.37M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
YPFreduced-2,481,138-$89.7M
CSANYreduced-144,149-$569K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001493152-26-004011, largest first. % of portfolio is the value over $1,228,198,942, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
BBDBANCO BRADESCO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: 137,533,653 shares; 2025Q4: 148,670,798 shares 148,670,798$517M42.1%+11,137,145Timeline
YPFYPF SOCIEDAD ANONIMAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: 12,973,695 shares; 2025Q4: 10,492,557 shares 10,492,557$379M30.89%-2,481,138Timeline
GGALGRUPO FINANCIERO GALICIA S.AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: 1,325,000 shares; 2025Q4: 2,092,309 shares 2,092,309$113M9.21%+767,309Timeline
GGBGERDAU SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: 17,801,228 shares; 2025Q4: 19,526,171 shares 19,526,171$72.1M5.87%+1,724,943Timeline
BSBRBANCO SANTANDER BRASIL S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: 8,995,322 shares; 2025Q4: 9,770,322 shares 9,770,322$59.7M4.86%+775,000Timeline
BMABANCO MACRO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: 455,961 shares; 2025Q4: 564,501 shares 564,501$50.9M4.14%+108,540Timeline
BBARBANCO BBVA ARGENTINA S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: 560,000 shares; 2025Q4: 1,141,305 shares 1,141,305$20.6M1.68%+581,305Timeline
CSANYCOSAN S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: 2,241,053 shares; 2025Q4: 2,096,904 shares 2,096,904$8.28M0.67%-144,149Timeline
ORMPORAMED PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: 1,973,057 shares; 2025Q4: 1,973,057 shares 1,973,057$5.62M0.46%0Timeline
TGSTRANSPORTADORA DE GAS DEL SUQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: 29,696 shares; 2025Q4: 29,696 shares 29,696$923K0.08%0Timeline
CEPUCENTRAL PUERTO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: 19,314 shares; 2025Q4: 19,314 shares 19,314$338K0.03%0Timeline
INVZINNOVIZ TECHNOLOGIES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not reported; 2025Q4: 177,278 shares 177,278$151K0.01%newTimeline
VLNWFVALENS SEMICONDUCTOR LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not reported; 2025Q4: 559,653 shares 559,653$14K<0.01%newTimeline

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001493152-26-004011 base2026-01-28acceptance time not in the bulk data set