VR Advisory Services Ltd

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), VR Advisory Services Ltd reported 31 stock positions worth $1.1 billion. Its top holding was YPF S.A.-Sponsored ADR (YPF) at 13.0% of the portfolio, followed by Grupo Aeromexico Sab DE CV (AERO, 8.6%) and JSC Kaspi.kz ADR (KSPI, 8.1%). Compared with Q1 2026, it opened 5 new positions, sold out of 2, added to 12 and reduced 3. The biggest buy was a new position in Azul SA-Spon ADR (AZUL) and the biggest sale an exit from Coterra Energy (CTRA).

Most Recent 13F
Q2 2026
Location
CAMANA BAY, GRAND CAYMAN, E9
CIK
0001348145
Portfolio Value
$1.1B (Q2 2026)
SEC Filing
0001315863-26-000591 ↗ filed Aug 14, 2026

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $210.5M Q1 2024 Q2 2024: $247.0M Q2 2024 Q3 2024: $286.0M Q3 2024 Q4 2024: $392.1M Q4 2024 Q1 2025: $377.6M Q1 2025 Q2 2025: $368.6M Q2 2025 Q3 2025: $411.9M Q3 2025 Q4 2025: $631.5M Q4 2025 Q1 2026: $844.7M Q1 2026 Q2 2026: $1.1B $1.1B Q2 2026

Holdings 31 stocks · $1.1B
YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA 13.04% 3,231,396 $146.9M No change
AERO Grupo Aeromexico Sab DE CV 8.55% 5,355,255 $96.4M Add +3.2%
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 8.07% 1,049,999 $91.0M Reduce -2.5%
AZUL Azul SA-Spon ADR 7.06% 8,854,652 $79.6M New
AER Aercap Holdings NV 5.78% 446,793 $65.1M Add +16.1%
PUMP Propetro Holding Corp. 5.21% 4,097,401 $58.8M Add +66.2%
HEPS D-Market Electronic Serv-ADR 5.01% 19,390,670 $56.4M Add +17.7%
LTH Life Time Group Holdings Inc. 4.43% 1,221,597 $49.9M Add +3.6%
IRS Irsa -SP ADR filed as IRSA INVERSIONES Y REP S A 3.66% 2,670,087 $41.2M No change
CORZ Core Scientific Inc. 3.52% 1,552,206 $39.7M Reduce -35.7%
DVN Devon Energy Corp. 3.49% 952,565 $39.4M New
LULU Lululemon Athletica Inc. 3.13% 309,402 $35.3M Add +108.1%
GLNG Golar LNG Ltd. 3.02% 682,493 $34.0M New
TDAY USA Today Co. Inc. 2.81% 3,698,460 $31.6M Add +0.5%
VEON Veon Ltd. 2.78% 601,205 $31.4M Add +52.7%
TDS Telephone and Data Systems 2.63% 800,904 $29.6M Add +9.6%
KYIV Kyivstar Group Ltd. 2.39% 1,666,276 $26.9M No change
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 2.36% 1,993,668 $26.6M Add +99.4%
VIST Vista Energy Sab DE CV 2.09% 368,652 $23.5M No change
SVC Service Pptys TR 1.82% 12,132,933 $20.5M New
PAM Pampa Energia SA-Spon ADR 1.69% 232,138 $19.1M No change
ECO Okeanis Eco Tankers Corp. 1.53% 343,729 $17.2M No change
GPRK Geopark Ltd. 1.53% 1,890,957 $17.2M Add +154.7%
MU Micron Technology Inc. 1.10% 10,750 $12.4M Reduce -53.3%
CF CF Industries Holdings Inc. 1.06% 110,780 $12.0M Add +37.1%
CRESY Cresud S.A.-Spons ADR 0.69% 692,830 $7.8M No change
TGS Transportador Gas-ADR SP B 0.51% 195,115 $5.8M No change
NEM Newmont Corp. 0.46% 55,187 $5.2M No change
HAFN Hafnia Ltd. 0.45% 766,069 $5.1M New
HSDT Solana Co. 0.09% 581,310 $959K No change
SOLZ Solana ETF 0.04% 58,000 $428K No change
Other holdings (12): bonds, preferreds, convertibles and warrants · $245K (not counted above)
SecurityClassShares / PrincipalValueChange
USDEW Stablecoinx Inc. *W EXP 06/25/203 200,000$82KNew
SOUNW Soundhound AI Inc. *W EXP 04/26/202 25,000$48KNo change
AENTW Adara Acquisition Class A -CW26 *W EXP 02/11/202 100,000$43KNo change
NIOBW Niocorp Developments Ltd. -28 *W EXP 03/17/202 15,356$21KNo change
FLDDW Fold Holdings Inc. -23 *W EXP 02/14/203 187,500$19KNo change
BKKT.WS Bakkt Holdings Inc. -CW26 *W EXP 10/25/202 150,000$10KNo change
BKSYW Blacksky Technology -CW24 *W EXP 09/09/202 130,600$7KNo change
SPWRW Sunpower Inc.-CW27 *W EXP 07/31/202 37,500$5KNo change
PGYWW Pagaya Technologies Ltd. -27 *W EXP 99/99/999 66,666$4KNo change
PSQH.WS Colombier Acq Class A -CW28 *W EXP 07/19/202 53,333$2KNo change
SLND.WS Legato Merger Corp. II -CW23 *W EXP 02/14/202 75,000$2KNo change
KIDZW Classover Holdings Inc. - 30 *W EXP 04/03/203 150,000$2KNo change

Total filed on the 13F, all lines: $1.1B.

Portfolio Sells Q1 2026 → Q2 2026
CTRA Coterra Energy Inc. Sold out 0.00% −5.66
KSPI JSC Kaspi.kz ADR Reduce -2.5% 8.07% −1.38
PARR Par Pacific Holdings Inc. Sold out 0.00% −1.11
CORZ Core Scientific Inc. Reduce -35.7% 3.52% −0.75
MU Micron Technology Inc. Reduce -53.3% 1.10% +0.18

Portfolio Buys Q1 2026 → Q2 2026
AZUL Azul SA-Spon ADR New 7.06% +7.06
DVN Devon Energy Corp. New 3.49% +3.49
GLNG Golar LNG Ltd. New 3.02% +3.02
SVC Service Pptys TR New 1.82% +1.82
PUMP Propetro Holding Corp. Add +66.2% 5.21% +1.01
GPRK Geopark Ltd. Add +154.7% 1.53% +0.69
LTH Life Time Group Holdings Inc. Add +3.6% 4.43% +0.66
NU Nu Holdings Ltd./Cayman Isl-A Add +99.4% 2.36% +0.66
VEON Veon Ltd. Add +52.7% 2.78% +0.63
HAFN Hafnia Ltd. New 0.45% +0.45
LULU Lululemon Athletica Inc. Add +108.1% 3.13% +0.44
AERO Grupo Aeromexico Sab DE CV Add +3.2% 8.55% −0.05
HEPS D-Market Electronic Serv-ADR Add +17.7% 5.01% −0.10
CF CF Industries Holdings Inc. Add +37.1% 1.06% −0.18
TDAY USA Today Co. Inc. Add +0.5% 2.81% −0.27
AER Aercap Holdings NV Add +16.1% 5.78% −0.47
TDS Telephone and Data Systems Add +9.6% 2.63% −1.01

Notes & Other Activity Q1 2026 → Q2 2026
USDEW Stablecoinx Inc. *W EXP 06/25/203 New 200,000 $82K
ASBPW Aspire Biopharma Holdin-CW27 *W EXP 02/14/203 Sold out 99,692 $2Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 31$1.1BYPF, AERO, KSPI, AZUL, AER
Q1 2026 28$844.7MYPF, KSPI, AERO, AER, CTRA
Q4 2025Amended 25$631.5MYPF, AERO, KSPI, IRS, HEPS
Q3 2025 23$411.9MKSPI, YPF, HEPS, IRS, AL
Q2 2025 19$368.6MYPF, KSPI, HEPS, IRS, AL
Q1 2025 17$377.6MYPF, KSPI, HEPS, IRS, PAM
Q4 2024 19$392.1MYPF, KSPI, IRS, PAM, TGS
Q3 2024 19$286.0MKSPI, YPF, IRS, AL, PAM
Q2 2024 17$247.0MKSPI, YPF, PAM, IRS, AL
Q1 2024 18$210.5MPAM, YPF, HTZ, IRS, AL