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Sagil Capital LLP

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13F filer, CIK 1747744, LONDON, United Kingdom

Sagil Capital LLP reported $438,937,193 across 21 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-12. Its ten largest share positions make up 84.76% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001747744-26-000001

Period
2025-12-31
Reported value
$439M
Holdings
21
Top 10 weight
84.76%
New
10
Sold out
7

Largest buys vs the previous quarter

SecurityShares changeApprox. value
NEXAnew+1,316,533$11.7M
AUGOnew+155,992$7.86M
CMBTadded+798,827$7.71M
TEOnew+657,097$7.63M
PBRnew+611,224$7.24M

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
SLVexited-400,000-$16.9M
Breduced-320,000-$13.9M
MOSexited-377,000-$13.1M
BVNexited-447,516-$10.9M
TDWexited-201,763-$10.8M

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 0001747744-26-000001, largest first. % of portfolio is the value over $160,024,275, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
BBARRICK MNG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,700,000 shares; 2025Q3: 800,000 shares; 2025Q4: 480,000 shares 480,000$20.9M13.06%-320,000Timeline
PBR-APETROLEO BRASILEIRO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 500,000 shares; 2025Q1: 1,127,133 shares; 2025Q2: 1,234,935 shares; 2025Q3: 1,800,000 shares; 2025Q4: 1,800,000 shares 1,800,000$20.3M12.68%0Timeline
TNKTEEKAY TANKERS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 171,798 shares; 2025Q3: 386,099 shares; 2025Q4: 373,640 shares 373,640$20M12.47%-12,459Timeline
TENTSAKOS ENERGY NAVIGATION LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 757,565 shares; 2025Q4: 861,366 shares 861,366$19.3M12.07%+103,801Timeline
CMBTCMB.TECH NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 598,570 shares; 2025Q4: 1,397,397 shares 1,397,397$13.5M8.43%+798,827Timeline
NEXANEXA RES S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,316,533 shares 1,316,533$11.7M7.28%newTimeline
AUGOAURA MINERALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 155,992 shares 155,992$7.86M4.91%newTimeline
TEOTELECOM ARGENTINA SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 657,097 shares 657,097$7.63M4.77%newTimeline
ARISARIS MINING CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 947,600 shares; 2025Q4: 450,000 shares 450,000$7.3M4.56%-497,600Timeline
PBRPETROLEO BRASILEIRO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 611,224 shares 611,224$7.24M4.53%newTimeline
CPACOPA HOLDINGS SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 53,854 shares 53,854$6.5M4.06%newTimeline
GGBGERDAU SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 3,900,000 shares; 2025Q2: not reported; 2025Q3: 1,567,825 shares; 2025Q4: 1,567,825 shares 1,567,825$5.79M3.62%0Timeline
LQDISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 36,200 shares; 2025Q3: 36,200 shares; 2025Q4: 36,200 shares 36,200$3.99M2.49%0Timeline
EXKENDEAVOUR SILVER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 390,000 shares 390,000$3.67M2.29%newTimeline
CPACCEMENTOS PACASMAYO S A AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 209,734 shares; 2024Q4: 209,734 shares; 2025Q1: 209,734 shares; 2025Q2: 209,734 shares; 2025Q3: 209,734 shares; 2025Q4: 209,734 shares 209,734$2.19M1.37%0Timeline
ZIMZIM INTEGRATED SHIPPING SERVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 70,000 shares 70,000$1.49M0.93%newTimeline
AEROGRUPO AEROMEXICO SAB DE CVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 35,689 shares 35,689$784K0.49%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
GLDSPDR GOLD TR GOLD SHSput383,700$152M+70,000
EWZISHARES INC MSCI BRAZIL ETFput3,002,300$95.4M+850,000
USOUNITED STS OIL FD LP COMput395,000$27.3Mnew
PETROLEO BRASILEIRO S APETROLEO BRASILEIRO S A CALLcall350,000$4.15Mnew

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
XLESELECT SECTOR SPDR TR200,000$17.9Mput
SLVISHARES SILVER TR400,000$16.9Mshares
MOSMOSAIC CO377,000$13.1Mshares
BVNCOMPANIA DE MINAS BUENAVENTU447,516$10.9Mshares
TDWTIDEWATER INC NEW201,763$10.8Mshares
SLSRSOLARIS RES INC623,100$3.97Mshares
GROBRAZIL POTASH CORP359,995$968Kshares

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 0001747744-26-000001 base2026-02-12acceptance time not in the bulk data set