Glenorchy Capital Ltd
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Glenorchy Capital Ltd reported 57 stock positions worth $135.8 million. Its top holding was Sprott Uranium Miners ETF (URNM) at 8.6% of the portfolio, followed by Global X MSCI Greece ETF (GREK, 6.4%) and Kranesh Csi China Internet (KWEB, 5.9%). Compared with Q1 2025, it sold out of 1, added to 20 and reduced 35. The biggest buy was Geospace Technologies (GEOS, shares +1%) and the biggest sale an exit from SPDR Gold Shares (GLD).
- Most Recent 13F
- Q2 2026
- Location
- BOOROLITE, C3
- CIK
- 0002008506
- Portfolio Value
- $135.8M (Q2 2025)
- SEC Filing
- 0001085146-25-005302 ↗ filed Aug 14, 2025
Holdings Value
Holdings 57 stocks · $135.8M
| URNM Sprott Uranium Miners ETF | 8.60% | 243,703 | $11.7M | Reduce -0.8% |
| GREK Global X MSCI Greece ETF | 6.38% | 149,220 | $8.7M | Reduce -1.9% |
| KWEB Kranesh Csi China Internet | 5.88% | 232,688 | $8.0M | Reduce -2.1% |
| GDX Vaneck Gold Miners ETF | 4.80% | 125,172 | $6.5M | Reduce -2.4% |
| CRK Comstock Resources Inc. | 3.99% | 195,888 | $5.4M | Reduce -2.2% |
| LOMA Loma Negra Cia Ind-Spon ADR | 3.59% | 444,035 | $4.9M | Reduce -2.3% |
| PAM Pampa Energia SA-Spon ADR | 3.58% | 70,039 | $4.9M | Reduce -2.1% |
| BBAR Bbva Argentina SA-ADR filed as BANCO BBVA ARGENTINA S A | 3.36% | 276,920 | $4.6M | Reduce -3.1% |
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 2.98% | 128,534 | $4.0M | Reduce -1.5% |
| CEPU Central Puerto-Sponsored ADR | 2.83% | 328,786 | $3.8M | Reduce -1.2% |
| CRESY Cresud S.A.-Spons ADR | 2.71% | 342,366 | $3.7M | Reduce -2.2% |
| BMA Banco Macro SA-ADR | 2.62% | 50,759 | $3.6M | Reduce -1.7% |
| FRO Frontline PLC | 2.31% | 191,480 | $3.1M | Reduce -0.5% |
| SBSW Sibanye-Stillwater Ltd.-ADR | 2.20% | 414,405 | $3.0M | Reduce -1.2% |
| FTI Technipfmc PLC | 2.09% | 82,532 | $2.8M | Reduce -1.3% |
| EXE Expand Energy Corp. | 2.07% | 24,023 | $2.8M | Reduce -50.9% |
| GEOS Geospace Technologies Corp. | 2.04% | 193,884 | $2.8M | Add +1.0% |
| DHT DHT Holdings Inc. | 1.95% | 245,238 | $2.7M | Reduce -1.2% |
| EQT Eqt Corp. | 1.95% | 45,407 | $2.6M | Reduce -1.9% |
| AR Antero Resources Corp. | 1.84% | 62,147 | $2.5M | Reduce -1.7% |
| RRC Range Resources Corp. | 1.79% | 59,832 | $2.4M | Reduce -1.6% |
| CNX CNX Resources Corp. | 1.74% | 70,286 | $2.4M | Reduce -1.6% |
| ICL Icl Group Ltd. | 1.66% | 326,976 | $2.2M | Reduce -1.9% |
| IPI Intrepid Potash Inc. | 1.63% | 62,104 | $2.2M | Reduce -1.6% |
| TEN Tsakos Energy Navigation Ltd. | 1.55% | 109,646 | $2.1M | Reduce -1.1% |
| GIFI Gulf Island Fabrication Inc. | 1.43% | 292,797 | $1.9M | Reduce -0.6% |
| INSW International Seaways Inc. | 1.40% | 51,996 | $1.9M | Reduce -0.5% |
| NE Noble Corp. PLC | 1.34% | 68,777 | $1.8M | Add +2.7% |
| RIG Transocean Ltd. | 1.28% | 670,998 | $1.7M | Add +2.2% |
| MOS The Mosaic Co. | 1.27% | 47,433 | $1.7M | Reduce -0.4% |
| TNK Teekay Tankers Ltd. Class A | 1.20% | 39,219 | $1.6M | Reduce -0.3% |
| OII Oceaneering Intl Inc. | 1.16% | 76,328 | $1.6M | Reduce -0.2% |
| VAL Valaris Ltd. | 1.03% | 33,176 | $1.4M | Add +0.7% |
| BTU Peabody Energy Corp. | 1.03% | 103,812 | $1.4M | Add +3.5% |
| HOS Hornbeck Offshore Services I filed as HELIX ENERGY SOLUTIONS GRP I | 0.93% | 201,670 | $1.3M | Add +0.7% |
| STNG Scorpio Tankers Inc. | 0.92% | 31,913 | $1.2M | Reduce -0.1% |
| TDW Tidewater Inc. | 0.91% | 26,857 | $1.2M | Add +0.1% |
| ASC Ardmore Shipping Corp. | 0.90% | 127,538 | $1.2M | Add +0.6% |
| CNR Core Natural Resources Inc. | 0.88% | 17,233 | $1.2M | Reduce -0.4% |
| TGS Transportador Gas-ADR SP B | 0.88% | 46,244 | $1.2M | Reduce -2.1% |
| GPRK Geopark Ltd. | 0.87% | 181,274 | $1.2M | Add +1.4% |
| SMHI Seacor Marine Holdings Inc. | 0.70% | 185,232 | $945K | Add +2.5% |
| XPRO Expro Group Holdings NV | 0.67% | 105,959 | $910K | Add +4.4% |
| BTI British American Tob-SP ADR | 0.60% | 17,172 | $813K | Reduce -0.5% |
| IVV iShares Core S&P 500 ETF | 0.51% | 1,118 | $694K | No change |
| IRS Irsa -SP ADR filed as IRSA INVERSIONES Y REP S A | 0.46% | 44,420 | $619K | Add +0.3% |
| BWLP BW LPG Ltd. | 0.45% | 51,220 | $605K | Add +0.2% |
| ECO Okeanis Eco Tankers Corp. | 0.41% | 26,061 | $563K | Reduce -1.1% |
| PBR Petroleo Brasileiro-Spon ADR | 0.41% | 43,979 | $550K | Add +0.8% |
| EC Ecopetrol SA-Sponsored ADR | 0.39% | 59,391 | $526K | Add +6.0% |
| TRMD Torm PLC-A | 0.36% | 29,670 | $494K | Add +3.5% |
| HAFN Hafnia Ltd. | 0.35% | 94,662 | $476K | Reduce -2.4% |
| SBLK Star Bulk Carriers Corp. | 0.35% | 27,432 | $473K | Add +4.7% |
| MNDO Mind Cti Ltd. | 0.28% | 273,791 | $375K | Add +9.1% |
| STLA Stellantis NV | 0.26% | 35,141 | $352K | Add +12.8% |
| CIVI Civitas Resources Inc. | 0.21% | 10,134 | $279K | Add +22.4% |
| URG Ur-Energy Inc. | 0.02% | 31,356 | $33K | No change |
Options reported separately and not counted above: QQQ puts ($279.9M), TLT puts ($229.0M), SPY puts ($20.4M), VAL calls ($4.7M), GLD calls ($732K), DSX calls ($23K), NE calls ($8K), SBSW calls ($722).
Portfolio Sells Q1 2025 → Q2 2025
| GLD SPDR Gold Shares | Sold out | 0.00% | −3.46 |
| EXE Expand Energy Corp. | Reduce -50.9% | 2.07% | −1.99 |
| PAM Pampa Energia SA-Spon ADR | Reduce -2.1% | 3.58% | −0.54 |
| BBAR Bbva Argentina SA-ADR | Reduce -3.1% | 3.36% | −0.50 |
| YPF YPF S.A.-Sponsored ADR | Reduce -1.5% | 2.98% | −0.43 |
| KWEB Kranesh Csi China Internet | Reduce -2.1% | 5.88% | −0.30 |
| BMA Banco Macro SA-ADR | Reduce -1.7% | 2.62% | −0.28 |
| CRESY Cresud S.A.-Spons ADR | Reduce -2.2% | 2.71% | −0.17 |
| LOMA Loma Negra Cia Ind-Spon ADR | Reduce -2.3% | 3.59% | −0.13 |
| CNR Core Natural Resources Inc. | Reduce -0.4% | 0.88% | −0.11 |
| OII Oceaneering Intl Inc. | Reduce -0.2% | 1.16% | −0.08 |
| AR Antero Resources Corp. | Reduce -1.7% | 1.84% | −0.06 |
| TGS Transportador Gas-ADR SP B | Reduce -2.1% | 0.88% | −0.05 |
| ECO Okeanis Eco Tankers Corp. | Reduce -1.1% | 0.41% | −0.02 |
| RRC Range Resources Corp. | Reduce -1.6% | 1.79% | −0.02 |
| DHT DHT Holdings Inc. | Reduce -1.2% | 1.95% | +0.01 |
| GIFI Gulf Island Fabrication Inc. | Reduce -0.6% | 1.43% | +0.02 |
| STNG Scorpio Tankers Inc. | Reduce -0.1% | 0.92% | +0.03 |
| HAFN Hafnia Ltd. | Reduce -2.4% | 0.35% | +0.05 |
| BTI British American Tob-SP ADR | Reduce -0.5% | 0.60% | +0.07 |
| CNX CNX Resources Corp. | Reduce -1.6% | 1.74% | +0.07 |
| CEPU Central Puerto-Sponsored ADR | Reduce -1.2% | 2.83% | +0.08 |
| TNK Teekay Tankers Ltd. Class A | Reduce -0.3% | 1.20% | +0.08 |
| INSW International Seaways Inc. | Reduce -0.5% | 1.40% | +0.10 |
| EQT Eqt Corp. | Reduce -1.9% | 1.95% | +0.11 |
| FTI Technipfmc PLC | Reduce -1.3% | 2.09% | +0.12 |
| TEN Tsakos Energy Navigation Ltd. | Reduce -1.1% | 1.55% | +0.14 |
| FRO Frontline PLC | Reduce -0.5% | 2.31% | +0.18 |
| ICL Icl Group Ltd. | Reduce -1.9% | 1.66% | +0.24 |
| IPI Intrepid Potash Inc. | Reduce -1.6% | 1.63% | +0.25 |
| MOS The Mosaic Co. | Reduce -0.4% | 1.27% | +0.32 |
| GDX Vaneck Gold Miners ETF | Reduce -2.4% | 4.80% | +0.41 |
| SBSW Sibanye-Stillwater Ltd.-ADR | Reduce -1.2% | 2.20% | +0.77 |
| CRK Comstock Resources Inc. | Reduce -2.2% | 3.99% | +0.96 |
| GREK Global X MSCI Greece ETF | Reduce -1.9% | 6.38% | +1.05 |
| URNM Sprott Uranium Miners ETF | Reduce -0.8% | 8.60% | +2.66 |
Portfolio Buys Q1 2025 → Q2 2025
| GEOS Geospace Technologies Corp. | Add +1.0% | 2.04% | +1.00 |
| NE Noble Corp. PLC | Add +2.7% | 1.34% | +0.16 |
| TDW Tidewater Inc. | Add +0.1% | 0.91% | +0.07 |
| VAL Valaris Ltd. | Add +0.7% | 1.03% | +0.06 |
| SBLK Star Bulk Carriers Corp. | Add +4.7% | 0.35% | +0.04 |
| BWLP BW LPG Ltd. | Add +0.2% | 0.45% | +0.03 |
| IRS Irsa -SP ADR | Add +0.3% | 0.46% | +0.03 |
| SMHI Seacor Marine Holdings Inc. | Add +2.5% | 0.70% | +0.01 |
| BTU Peabody Energy Corp. | Add +3.5% | 1.03% | +0.01 |
| TRMD Torm PLC-A | Add +3.5% | 0.36% | +0.01 |
| STLA Stellantis NV | Add +12.8% | 0.26% | −0.00 |
| CIVI Civitas Resources Inc. | Add +22.4% | 0.21% | −0.01 |
| ASC Ardmore Shipping Corp. | Add +0.6% | 0.90% | −0.02 |
| EC Ecopetrol SA-Sponsored ADR | Add +6.0% | 0.39% | −0.05 |
| MNDO Mind Cti Ltd. | Add +9.1% | 0.28% | −0.06 |
| PBR Petroleo Brasileiro-Spon ADR | Add +0.8% | 0.41% | −0.06 |
| XPRO Expro Group Holdings NV | Add +4.4% | 0.67% | −0.08 |
| GPRK Geopark Ltd. | Add +1.4% | 0.87% | −0.21 |
| RIG Transocean Ltd. | Add +2.2% | 1.28% | −0.27 |
| HOS Hornbeck Offshore Services I | Add +0.7% | 0.93% | −0.31 |
Options Activity Q1 2025 → Q2 2025
| QQQ Invesco QQQ Trust Series 1 | put | New | 507,400 | $279.9M |
| TLT iShares 20+ Year Treasury BD | put | New | 2,595,400 | $229.0M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -21.4% | 33,000 | $20.4M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 59 | $160.2M | EWZ, GDX, FRO, ECH, ECNS |
| Q1 2026 | 62 | $185.0M | EWZ, GDX, FRO, ECNS, ECH |
| Q4 2025 | 59 | $153.8M | GDX, GREK, EWZ, KWEB, ECNS |
| Q3 2025 | 58 | $137.8M | KWEB, GDX, GREK, EWZ, ECNS |
| Q2 2025 | 57 | $135.8M | URNM, GREK, KWEB, GDX, CRK |
| Q1 2025Amended | 58 | $134.2M | KWEB, URNM, GREK, GDX, PAM |
| Q4 2024 | 59 | $139.5M | URNM, KWEB, PAM, BBAR, YPF |
| Q3 2024 | 62 | $133.0M | URNM, GREK, GDX, PAM, DXJ |
| Q2 2024 | 61 | $135.8M | URNM, TDW, DXJ, GREK, BMA |
| Q1 2024 | 63 | $121.4M | URNM, TDW, DXJ, YPF, GREK |