Sagil Capital LLP

Name: Sagil Capital LLP 13F holdings, Q1 2026
Creator: Sagil Capital LLP
Published: 2026-05-14

Q2 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Sagil Capital LLP reported 16 stock positions worth $156.1 million. Its top holding was Vista Energy Sab DE CV (VIST) at 12.1% of the portfolio, followed by Barrick Mining (B, 10.5%) and Nexa Resources (NEXA, 9.1%). Compared with Q4 2025, it opened 8 new positions, sold out of 9, added to 4 and reduced 2. The biggest buy was a new position in Vista Energy Sab DE CV (VIST) and the biggest sale an exit from Petroleo Brasil-SP Pref ADR (PBR.A).

Most Recent 13F: Q2 2026
Location: LONDON, X0
CIK: 0001747744
Portfolio Value: $156.1M (Q1 2026)
SEC Filing: 0001747744-26-000003 ↗ filed May 14, 2026

Holdings Value

Holdings 16 stocks · $156.1M


VIST Vista Energy Sab DE CV	12.08%	250,000	$18.9M	New
B Barrick Mining Corp.	10.45%	400,000	$16.3M	Reduce -16.7%
NEXA Nexa Resources SA	9.07%	1,337,794	$14.2M	Add +1.6%
PICS Pics NV	8.70%	1,300,000	$13.6M	New
TEO Telecom Argentina SA-SP ADR	8.66%	1,156,409	$13.5M	Add +76.0%
GGAL Grupo Financiero Galicia-ADR	6.94%	231,958	$10.8M	New
TEN Tsakos Energy Navigation Ltd.	6.32%	250,000	$9.9M	Reduce -71.0%
BBAR Bbva Argentina SA-ADR filed as BANCO BBVA ARGENTINA S A	6.17%	600,000	$9.6M	New
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD	5.52%	600,000	$8.6M	New
ARIS Aris Mining Corp.	5.36%	450,000	$8.4M	No change
AGRO Adecoagro SA	4.84%	503,476	$7.6M	New
NTR Nutrien Ltd.	4.83%	100,000	$7.5M	New
ZIM Zim Integrated Shipping Serv	4.58%	271,475	$7.2M	Add +287.8%
LQD Ishr Ibx Usd Invgd CB ETF-Ui	2.53%	36,200	$3.9M	No change
GLOB Globant SA	2.22%	75,000	$3.5M	New
CPAC Cementos Pacasmayo Saa - ADR	1.72%	268,197	$2.7M	Add +27.9%

Options reported separately and not counted above: UNITED STS OIL FD LP puts ($75.7M), ISHARES TR puts ($23.9M), PETROLEO BRASILEIRO S A calls ($7.3M).

Portfolio Sells Q4 2025 → Q1 2026


PBR.A Petroleo Brasil-SP Pref ADR	Sold out	0.00%	−12.68
TNK Teekay Tankers Ltd. Class A	Sold out	0.00%	−12.47
CMBT CMB Tech NV	Sold out	0.00%	−8.43
TEN Tsakos Energy Navigation Ltd.	Reduce -71.0%	6.32%	−5.75
AUGO Aura Minerals Inc.	Sold out	0.00%	−4.91
PBR Petroleo Brasileiro-Spon ADR	Sold out	0.00%	−4.53
CPA Copa Holdings SA Class A	Sold out	0.00%	−4.06
GGB Gerdau SA -Spon ADR	Sold out	0.00%	−3.62
B Barrick Mining Corp.	Reduce -16.7%	10.45%	−2.61
EXK Endeavour Silver Corp.	Sold out	0.00%	−2.29
AERO Grupo Aeromexico Sab DE CV	Sold out	0.00%	−0.49

Portfolio Buys Q4 2025 → Q1 2026


VIST Vista Energy Sab DE CV	New	12.08%	+12.08
PICS Pics NV	New	8.70%	+8.70
GGAL Grupo Financiero Galicia-ADR	New	6.94%	+6.94
BBAR Bbva Argentina SA-ADR	New	6.17%	+6.17
NU Nu Holdings Ltd./Cayman Isl-A	New	5.52%	+5.52
AGRO Adecoagro SA	New	4.84%	+4.84
NTR Nutrien Ltd.	New	4.83%	+4.83
TEO Telecom Argentina SA-SP ADR	Add +76.0%	8.66%	+3.89
ZIM Zim Integrated Shipping Serv	Add +287.8%	4.58%	+3.65
GLOB Globant SA	New	2.22%	+2.22
NEXA Nexa Resources SA	Add +1.6%	9.07%	+1.79
CPAC Cementos Pacasmayo Saa - ADR	Add +27.9%	1.72%	+0.35

Options Activity Q4 2025 → Q1 2026


GLD SPDR Gold Shares	put	Sold out	383,700	$152.1Mbefore exit
EWZ iShares MSCI Brazil ETF	put	Sold out	3,002,300	$95.4Mbefore exit
UNITED STS OIL FD LP	put	New	595,000	$75.7M
USO United States Oil Fund LP	put	Sold out	395,000	$27.3Mbefore exit
ISHARES TR	put	New	420,000	$23.9M

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	19	$204.7M	VIST, GGAL, ZIM, NEXA, XP
Q1 2026	16	$156.1M	VIST, B, NEXA, PICS, TEO
Q4 2025	17	$160.0M	B, PBR.A, TNK, TEN, CMBT
Q3 2025	15	$165.7M	B, PBR.A, TNK, SLV, TEN
Q2 2025	17	$185.8M	B, BBD, BVN, TDW, PBR.A
Q1 2025	15	$115.1M	BVN, PBR.A, IFS, BBD, GGB
Q4 2024	11	$106.5M	VALE, BVN, BBD, AU, IFS
Q3 2024	14	$98.2M	VALE, BBD, BVN, BAP, ABEV
Q2 2024	14	$113.9M	VALE, BBD, EWW, GPRK, ABEV
Q1 2024	18	$107.6M	BBD, SLV, GPRK, VALE, STNG