Glenorchy Capital Ltd
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 30, 2025), Glenorchy Capital Ltd reported 58 stock positions worth $137.8 million. Its top holding was Kranesh Csi China Internet (KWEB) at 6.7% of the portfolio, followed by Vaneck Gold Miners ETF (GDX, 6.5%) and Global X MSCI Greece ETF (GREK, 6.4%). Compared with Q2 2025, it opened 4 new positions, sold out of 3, added to 5 and reduced 48. The biggest buy was a new position in iShares MSCI Brazil ETF (EWZ) and the biggest sale an exit from Sprott Uranium Miners ETF (URNM).
- Most Recent 13F
- Q2 2026
- Location
- BOOROLITE, C3
- CIK
- 0002008506
- Portfolio Value
- $137.8M (Q3 2025)
- SEC Filing
- 0002008506-25-000002 ↗ filed Oct 30, 2025
Holdings Value
Holdings 58 stocks · $137.8M
| KWEB Kranesh Csi China Internet | 6.74% | 221,077 | $9.3M | Reduce -5.0% |
| GDX Vaneck Gold Miners ETF | 6.51% | 117,393 | $9.0M | Reduce -6.2% |
| GREK Global X MSCI Greece ETF | 6.44% | 137,891 | $8.9M | Reduce -7.6% |
| EWZ iShares MSCI Brazil ETF | 6.08% | 270,108 | $8.4M | New |
| ECNS iShares MSCI China Small-Cap | 5.21% | 182,076 | $7.2M | New |
| SBSW Sibanye-Stillwater Ltd.-ADR | 3.20% | 391,828 | $4.4M | Reduce -5.5% |
| FRO Frontline PLC | 3.04% | 183,616 | $4.2M | Reduce -4.1% |
| PAM Pampa Energia SA-Spon ADR | 2.82% | 64,749 | $3.9M | Reduce -7.5% |
| CRK Comstock Resources Inc. | 2.67% | 185,594 | $3.7M | Reduce -5.3% |
| GEOS Geospace Technologies Corp. | 2.51% | 182,260 | $3.5M | Reduce -6.0% |
| LOMA Loma Negra Cia Ind-Spon ADR | 2.24% | 418,475 | $3.1M | Reduce -5.8% |
| FTI Technipfmc PLC | 2.15% | 74,993 | $3.0M | Reduce -9.1% |
| CRESY Cresud S.A.-Spons ADR | 2.14% | 320,656 | $3.0M | Reduce -6.3% |
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 2.12% | 120,291 | $2.9M | Reduce -6.4% |
| DHT DHT Holdings Inc. | 2.01% | 231,395 | $2.8M | Reduce -5.6% |
| BTU Peabody Energy Corp. | 1.96% | 101,969 | $2.7M | Reduce -1.8% |
| CEPU Central Puerto-Sponsored ADR | 1.80% | 309,035 | $2.5M | Reduce -6.0% |
| EXE Expand Energy Corp. | 1.78% | 23,113 | $2.5M | Reduce -3.8% |
| TEN Tsakos Energy Navigation Ltd. | 1.71% | 106,109 | $2.4M | Reduce -3.2% |
| INSW International Seaways Inc. | 1.69% | 50,502 | $2.3M | Reduce -2.9% |
| EQT Eqt Corp. | 1.68% | 42,633 | $2.3M | Reduce -6.1% |
| BBAR Bbva Argentina SA-ADR filed as BANCO BBVA ARGENTINA S A | 1.58% | 261,716 | $2.2M | Reduce -5.5% |
| CNX CNX Resources Corp. | 1.55% | 66,350 | $2.1M | Reduce -5.6% |
| RRC Range Resources Corp. | 1.53% | 56,025 | $2.1M | Reduce -6.4% |
| RIG Transocean Ltd. | 1.52% | 670,175 | $2.1M | Reduce -0.1% |
| BMA Banco Macro SA-ADR | 1.48% | 48,175 | $2.0M | Reduce -5.1% |
| NE Noble Corp. PLC | 1.48% | 71,917 | $2.0M | Add +4.6% |
| GIFI Gulf Island Fabrication Inc. | 1.42% | 278,076 | $2.0M | Reduce -5.0% |
| AR Antero Resources Corp. | 1.41% | 57,915 | $1.9M | Reduce -6.8% |
| ICL Icl Group Ltd. | 1.40% | 309,126 | $1.9M | Reduce -5.5% |
| TNK Teekay Tankers Ltd. Class A | 1.35% | 36,739 | $1.9M | Reduce -6.3% |
| OII Oceaneering Intl Inc. | 1.32% | 73,567 | $1.8M | Reduce -3.6% |
| IPI Intrepid Potash Inc. | 1.30% | 58,677 | $1.8M | Reduce -5.5% |
| STNG Scorpio Tankers Inc. | 1.22% | 29,966 | $1.7M | Reduce -6.1% |
| MOS The Mosaic Co. | 1.19% | 47,281 | $1.6M | Reduce -0.3% |
| VAL Valaris Ltd. | 1.11% | 31,337 | $1.5M | Reduce -5.5% |
| ASC Ardmore Shipping Corp. | 1.08% | 125,490 | $1.5M | Reduce -1.6% |
| CNR Core Natural Resources Inc. | 1.01% | 16,749 | $1.4M | Reduce -2.8% |
| TDW Tidewater Inc. | 1.00% | 25,943 | $1.4M | Reduce -3.4% |
| HOS Hornbeck Offshore Services I filed as HELIX ENERGY SOLUTIONS GRP I | 0.92% | 193,712 | $1.3M | Reduce -4.0% |
| XPRO Expro Group Holdings NV | 0.90% | 104,130 | $1.2M | Reduce -1.7% |
| SMHI Seacor Marine Holdings Inc. | 0.87% | 184,851 | $1.2M | Reduce -0.2% |
| GPRK Geopark Ltd. | 0.82% | 177,088 | $1.1M | Reduce -2.3% |
| TGS Transportador Gas-ADR SP B | 0.65% | 42,722 | $898K | Reduce -7.6% |
| BTI British American Tob-SP ADR | 0.64% | 16,634 | $883K | Reduce -3.1% |
| ECO Okeanis Eco Tankers Corp. | 0.55% | 25,666 | $755K | Reduce -1.5% |
| IVV iShares Core S&P 500 ETF | 0.54% | 1,118 | $748K | No change |
| BWLP BW LPG Ltd. | 0.51% | 49,128 | $702K | Reduce -4.1% |
| HAFN Hafnia Ltd. | 0.42% | 95,522 | $575K | Add +0.9% |
| PBR Petroleo Brasileiro-Spon ADR | 0.40% | 43,618 | $552K | Reduce -0.8% |
| EC Ecopetrol SA-Sponsored ADR | 0.40% | 59,543 | $548K | Add +0.3% |
| TRMD Torm PLC-A | 0.40% | 26,455 | $546K | Reduce -10.8% |
| SBLK Star Bulk Carriers Corp. | 0.37% | 27,712 | $515K | Add +1.0% |
| IRS Irsa -SP ADR filed as IRSA INVERSIONES Y REP S A | 0.37% | 43,306 | $513K | Reduce -2.5% |
| CIVI Civitas Resources Inc. | 0.25% | 10,750 | $349K | Add +6.1% |
| CALM Cal-Maine Foods Inc. | 0.21% | 3,056 | $288K | New |
| WB Weibo Corp.-Spon ADR | 0.19% | 20,602 | $255K | New |
| MNDO Mind Cti Ltd. | 0.15% | 185,395 | $204K | Reduce -32.3% |
Options reported separately and not counted above: QQQ puts ($291.2M), TLT puts ($222.7M), SPY puts ($22.0M), VAL calls ($5.4M), GLD calls ($853K), DSX calls ($26K), NE calls ($8K), SBSW calls ($1K).
Portfolio Sells Q2 2025 → Q3 2025
| URNM Sprott Uranium Miners ETF | Sold out | 0.00% | −8.60 |
| BBAR Bbva Argentina SA-ADR | Reduce -5.5% | 1.58% | −1.78 |
| LOMA Loma Negra Cia Ind-Spon ADR | Reduce -5.8% | 2.24% | −1.35 |
| CRK Comstock Resources Inc. | Reduce -5.3% | 2.67% | −1.32 |
| BMA Banco Macro SA-ADR | Reduce -5.1% | 1.48% | −1.15 |
| CEPU Central Puerto-Sponsored ADR | Reduce -6.0% | 1.80% | −1.03 |
| YPF YPF S.A.-Sponsored ADR | Reduce -6.4% | 2.12% | −0.86 |
| PAM Pampa Energia SA-Spon ADR | Reduce -7.5% | 2.82% | −0.76 |
| CRESY Cresud S.A.-Spons ADR | Reduce -6.3% | 2.14% | −0.57 |
| AR Antero Resources Corp. | Reduce -6.8% | 1.41% | −0.43 |
| IPI Intrepid Potash Inc. | Reduce -5.5% | 1.30% | −0.33 |
| EXE Expand Energy Corp. | Reduce -3.8% | 1.78% | −0.29 |
| EQT Eqt Corp. | Reduce -6.1% | 1.68% | −0.27 |
| RRC Range Resources Corp. | Reduce -6.4% | 1.53% | −0.26 |
| ICL Icl Group Ltd. | Reduce -5.5% | 1.40% | −0.26 |
| STLA Stellantis NV | Sold out | 0.00% | −0.26 |
| TGS Transportador Gas-ADR SP B | Reduce -7.6% | 0.65% | −0.23 |
| CNX CNX Resources Corp. | Reduce -5.6% | 1.55% | −0.20 |
| MNDO Mind Cti Ltd. | Reduce -32.3% | 0.15% | −0.13 |
| MOS The Mosaic Co. | Reduce -0.3% | 1.19% | −0.08 |
| IRS Irsa -SP ADR | Reduce -2.5% | 0.37% | −0.08 |
| GPRK Geopark Ltd. | Reduce -2.3% | 0.82% | −0.05 |
| URG Ur-Energy Inc. | Sold out | 0.00% | −0.02 |
| GIFI Gulf Island Fabrication Inc. | Reduce -5.0% | 1.42% | −0.02 |
| HOS Hornbeck Offshore Services I | Reduce -4.0% | 0.92% | −0.00 |
| PBR Petroleo Brasileiro-Spon ADR | Reduce -0.8% | 0.40% | −0.00 |
| TRMD Torm PLC-A | Reduce -10.8% | 0.40% | +0.03 |
| BTI British American Tob-SP ADR | Reduce -3.1% | 0.64% | +0.04 |
| FTI Technipfmc PLC | Reduce -9.1% | 2.15% | +0.05 |
| DHT DHT Holdings Inc. | Reduce -5.6% | 2.01% | +0.05 |
| BWLP BW LPG Ltd. | Reduce -4.1% | 0.51% | +0.06 |
| GREK Global X MSCI Greece ETF | Reduce -7.6% | 6.44% | +0.07 |
| VAL Valaris Ltd. | Reduce -5.5% | 1.11% | +0.08 |
| TDW Tidewater Inc. | Reduce -3.4% | 1.00% | +0.09 |
| CNR Core Natural Resources Inc. | Reduce -2.8% | 1.01% | +0.13 |
| ECO Okeanis Eco Tankers Corp. | Reduce -1.5% | 0.55% | +0.13 |
| TNK Teekay Tankers Ltd. Class A | Reduce -6.3% | 1.35% | +0.14 |
| OII Oceaneering Intl Inc. | Reduce -3.6% | 1.32% | +0.16 |
| TEN Tsakos Energy Navigation Ltd. | Reduce -3.2% | 1.71% | +0.16 |
| SMHI Seacor Marine Holdings Inc. | Reduce -0.2% | 0.87% | +0.18 |
| ASC Ardmore Shipping Corp. | Reduce -1.6% | 1.08% | +0.18 |
| XPRO Expro Group Holdings NV | Reduce -1.7% | 0.90% | +0.23 |
| RIG Transocean Ltd. | Reduce -0.1% | 1.52% | +0.24 |
| INSW International Seaways Inc. | Reduce -2.9% | 1.69% | +0.29 |
| STNG Scorpio Tankers Inc. | Reduce -6.1% | 1.22% | +0.30 |
| GEOS Geospace Technologies Corp. | Reduce -6.0% | 2.51% | +0.47 |
| FRO Frontline PLC | Reduce -4.1% | 3.04% | +0.72 |
| KWEB Kranesh Csi China Internet | Reduce -5.0% | 6.74% | +0.86 |
| BTU Peabody Energy Corp. | Reduce -1.8% | 1.96% | +0.94 |
| SBSW Sibanye-Stillwater Ltd.-ADR | Reduce -5.5% | 3.20% | +0.99 |
Portfolio Buys Q2 2025 → Q3 2025
| EWZ iShares MSCI Brazil ETF | New | 6.08% | +6.08 |
| ECNS iShares MSCI China Small-Cap | New | 5.21% | +5.21 |
| CALM Cal-Maine Foods Inc. | New | 0.21% | +0.21 |
| WB Weibo Corp.-Spon ADR | New | 0.19% | +0.19 |
| NE Noble Corp. PLC | Add +4.6% | 1.48% | +0.13 |
| HAFN Hafnia Ltd. | Add +0.9% | 0.42% | +0.07 |
| CIVI Civitas Resources Inc. | Add +6.1% | 0.25% | +0.05 |
| SBLK Star Bulk Carriers Corp. | Add +1.0% | 0.37% | +0.03 |
| EC Ecopetrol SA-Sponsored ADR | Add +0.3% | 0.40% | +0.01 |
Options Activity Q2 2025 → Q3 2025
| QQQ Invesco QQQ Trust Series 1 | put | Reduce -4.4% | 485,000 | $291.2M |
| TLT iShares 20+ Year Treasury BD | put | Reduce -4.0% | 2,492,100 | $222.7M |
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 |