Aquamarine Financial (Cayman) Ltd

CIK 0002104187 · Q2 2026

13F Equity AUM

$1.8B

+32.6% QoQ

Positions

0 QoQ

AUM Rank

#1,645

Top 19%

Skill Alpha (FF)

—

Building track record (3q)

Quarters Tracked

~1 years

Portfolio Concentration

Top 5: 87.7%Top 10: 98.8%Top 20: 100.0%

BBD35.8%

YPF31.2%

GGAL9.7%

NU6.6%

BMA4.3%

GGB3.7%

BSBR3.0%

BFP1.8%

PGYWW1.8%

ORMP0.7%

Others (7)1.3%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services59.5%

Energy31.6%

Basic Materials3.7%

Other5.2%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 17Median: 1.78%Avg: 5.88%

0–0.5%

6(0.8%)

0.5–1%

2(1.2%)

1–3%

2(3.6%)

3–5%

3(11.1%)

5%+

4(83.4%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 17vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New1Increased9Decreased0Exited1

New Positions

PGYWW1.8%

+1.8M

Increased

BBD35.8%

+30.1M(+19%)

NU6.6%

+8.0M(+798%)

YPF31.2%

+3.4M(+38%)

GGAL9.7%

+1.2M(+49%)

INVZW0.2%

+652K(+13%)

BSBR3.0%

+576K(+6%)

BFP1.8%

+466K(+38%)

ORMP0.7%

+400K(+19%)

BMA4.3%

+310K(+58%)

Exited

SCO

-3,400,000

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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