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Aquamarine Financial Portfolio holdings

AUM $1.37B
This Fund
S&P 500
This Quarter Est. Return
+31.52%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.23B
AUM Growth
+$254M
Cap. Flow
+$18.3M
Cap. Flow %
1.49%
Top 10 Hldgs %
99.96%
Holding
13
New
2
Increased
6
Reduced
2
Closed
–

Top Buys

Rank Stock Value
1
BBD icon
Banco Bradesco
BBD
+$37.9M
2
GGAL icon
Galicia Financial Group
GGAL
+$35.9M
3
BBAR icon
BBVA Argentina
BBAR
+$8.34M
4
BMA icon
Banco Macro
BMA
+$8.2M
5
GGB icon
Gerdau
GGB
+$6.03M

Top Sells

Rank Stock Value
1
YPF icon
YPF
YPF
+$82.3M
2
CSAN icon
Cosan
CSAN
+$657K

Sector Composition

Rank Sector Weight
1 Financials 61.99%
2 Energy 31.64%
3 Materials 5.87%
4 Healthcare 0.46%
5 Utilities 0.03%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BBD icon
1
Banco Bradesco
BBD
$37.5B
$517M 42.1%
148,670,798
+11,137,145
+8% +$37.9M
YPF icon
2
YPF
YPF
$19.7B
$379M 30.89%
10,492,557
-2,481,138
-19% -$82.3M
GGAL icon
3
Galicia Financial Group
GGAL
$7.81B
$113M 9.21%
2,092,309
+767,309
+58% +$35.9M
GGB icon
4
Gerdau
GGB
$9.54B
$72.1M 5.87%
19,526,171
+1,724,943
+10% +$6.03M
BSBR icon
5
Santander
BSBR
$38.4B
$59.7M 4.86%
9,770,322
+775,000
+9% +$4.54M
BMA icon
6
Banco Macro
BMA
$5.73B
$50.9M 4.14%
564,501
+108,540
+24% +$8.2M
BBAR icon
7
BBVA Argentina
BBAR
$3.86B
$20.6M 1.68%
1,141,305
+581,305
+104% +$8.34M
CSAN icon
8
Cosan
CSAN
$3.02B
$8.28M 0.67%
2,096,904
-144,149
-6% -$657K
ORMP icon
9
Oramed Pharmaceuticals
ORMP
$166M
$5.62M 0.46%
1,973,057
– –
TGS icon
10
Transportadora de Gas del Sur
TGS
$4.46B
$923K 0.08%
29,696
– –
CEPU
11
Central Puerto
CEPU
$2.17B
$338K 0.03%
19,314
– –
INVZ icon
12
Innoviz Technologies
INVZ
$95.4M
$151K 0.01%
+177,278
New +$281K
VLN.WS
13
DELISTED
Valens Semiconductor Ltd Warrants
VLN.WS
$14K ﹤0.01%
+559,653
New +$37.6K

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Aquamarine Financial's Q4 2025 Portfolio in Review

As of Q4 2025, Aquamarine Financial held 13 positions worth $1.23B, up 26% from $975M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Aquamarine Financial's Q4 2025 filing shows 2 new, 6 increased and 2 reduced positions. Its largest new stake was Innoviz Technologies: 177,278 shares worth $151K. The largest sale was YPF, an estimated $82.3M.

By sector, the portfolio is most concentrated in Financials at 62% of assets, up from 60% a quarter earlier, followed by Energy and Materials.

  • Aquamarine Financial's largest Q4 2025 buy was Innoviz Technologies: 177,278 shares worth $151K.
  • Aquamarine Financial added most to Banco Bradesco in Q4 2025, an estimated $37.9M increase.
  • Aquamarine Financial's biggest Q4 2025 reduction was YPF, cutting an estimated $82.3M.
  • Aquamarine Financial's ten largest holdings make up 100% of its $1.23B portfolio in Q4 2025.
  • Aquamarine Financial opened 2 new positions and closed 0 in Q4 2025.
  • Aquamarine Financial's portfolio value rose 26% quarter-over-quarter to $1.23B.

Based on Aquamarine Financial's 13F filing for Q4 2025, filed 28 Jan 2026.