# VR Advisory Services Ltd

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1348145. Source: https://holderbook.com/funds/1348145-vr-advisory-services-ltd/

- Reported value: $1.1B
- Positions: 43
- Weight of the ten largest: 64.3%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| YPF SOCIEDAD ANONIMA | [YPF](https://holderbook.com/stocks/YPF/) | $146.9M | 3,231,396 | 13.0% | 16 |
| GRUPO AEROMEXICO SAB DE CV | [AERO](https://holderbook.com/stocks/AERO/) | $96.4M | 5,355,255 | 8.6% | 3 |
| KASPI KZ JSC | [KSPI](https://holderbook.com/stocks/KSPI/) | $91.0M | 1,049,999 | 8.1% | 9 |
| AZUL S A | - | $79.6M | 8,854,652 | 7.1% | 1 |
| AERCAP HOLDINGS NV | [AER](https://holderbook.com/stocks/AER/) | $65.1M | 446,793 | 5.8% | 18 |
| PROPETRO HLDG CORP | [PUMP](https://holderbook.com/stocks/PUMP/) | $58.8M | 4,097,401 | 5.2% | 6 |
| D MARKET ELECTR SVCS & TRADI | [HEPS](https://holderbook.com/stocks/HEPS/) | $56.4M | 19,390,670 | 5.0% | 7 |
| LIFE TIME GROUP HOLDINGS INC | [LTH](https://holderbook.com/stocks/LTH/) | $49.9M | 1,221,597 | 4.4% | 3 |
| IRSA INVERSIONES Y REP S A | [IRS](https://holderbook.com/stocks/IRS/) | $41.2M | 2,670,087 | 3.7% | 11 |
| CORE SCIENTIFIC INC NEW | [CORZ](https://holderbook.com/stocks/CORZ/) | $39.7M | 1,552,206 | 3.5% | 4 |
| DEVON ENERGY CORP NEW | [DVN](https://holderbook.com/stocks/DVN/) | $39.4M | 952,565 | 3.5% | 1 |
| LULULEMON ATHLETICA INC | [LULU](https://holderbook.com/stocks/LULU/) | $35.3M | 309,402 | 3.1% | 3 |
| GOLAR LNG LTD | [GLNG](https://holderbook.com/stocks/GLNG/) | $34.0M | 682,493 | 3.0% | 1 |
| USA TODAY CO INC | [TDAY](https://holderbook.com/stocks/TDAY/) | $31.6M | 3,698,460 | 2.8% | 2 |
| VEON LTD | [VEON](https://holderbook.com/stocks/VEON/) | $31.4M | 601,205 | 2.8% | 7 |
| TELEPHONE & DATA SYS INC | [TDS](https://holderbook.com/stocks/TDS/) | $29.6M | 800,904 | 2.6% | 3 |
| KYIVSTAR GROUP LTD | [KYIV](https://holderbook.com/stocks/KYIV/) | $26.9M | 1,666,276 | 2.4% | 2 |
| NU HLDGS LTD | [NU](https://holderbook.com/stocks/NU/) | $26.6M | 1,993,668 | 2.4% | 2 |
| VISTA ENERGY S.A.B. DE C.V. | [VIST](https://holderbook.com/stocks/VIST/) | $23.5M | 368,652 | 2.1% | 4 |
| SERVICE PPTYS TR | [SVC](https://holderbook.com/stocks/SVC/) | $20.5M | 12,132,933 | 1.8% | 1 |
| PAMPA ENERGIA S A | [PAM](https://holderbook.com/stocks/PAM/) | $19.1M | 232,138 | 1.7% | 31 |
| OKEANIS ECO TANKERS COR | [ECO](https://holderbook.com/stocks/ECO/) | $17.2M | 343,729 | 1.5% | 8 |
| GEOPARK LTD | [GPRK](https://holderbook.com/stocks/GPRK/) | $17.2M | 1,890,957 | 1.5% | 31 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $12.4M | 10,750 | 1.1% | 2 |
| CF INDUSTRIES HOLD | [CF](https://holderbook.com/stocks/CF/) | $12.0M | 110,780 | 1.1% | 2 |
| CRESUD S A C I F Y A | [CRESY](https://holderbook.com/stocks/CRESY/) | $7.8M | 692,830 | 0.7% | 31 |
| TRANSPORTADORA DE GAS DEL SU | [TGS](https://holderbook.com/stocks/TGS/) | $5.8M | 195,115 | 0.5% | 31 |
| NEWMONT CORP | [NEM](https://holderbook.com/stocks/NEM/) | $5.2M | 55,187 | 0.5% | 4 |
| HAFNIA LTD | [HAFN](https://holderbook.com/stocks/HAFN/) | $5.1M | 766,069 | 0.5% | 1 |
| SOLANA CO | [HSDT](https://holderbook.com/stocks/HSDT/) | $959.2K | 581,310 | 0.1% | 4 |
| VOLATILITY SHS TR | [SOLZ](https://holderbook.com/stocks/SOLZ/) | $428.0K | 58,000 | 0.0% | 4 |
| STABLECOINX INC | - | $82.0K | 200,000 | 0.0% | 1 |
| SOUNDHOUND AI INC | [SOUNW](https://holderbook.com/stocks/SOUNW/) | $48.0K | 25,000 | 0.0% | 16 |
| ALLIANCE ENTERTAINMENT HOLDI | [AENTW](https://holderbook.com/stocks/AENTW/) | $43.0K | 100,000 | 0.0% | 13 |
| NIOCORP DEVS LTD | [NIOBW](https://holderbook.com/stocks/NIOBW/) | $21.5K | 15,356 | 0.0% | 14 |
| FOLD HLDGS INC | [FLDDW](https://holderbook.com/stocks/FLDDW/) | $19.2K | 187,500 | 0.0% | 6 |
| BAKKT INC | [BKKTWS](https://holderbook.com/stocks/BKKTWS/) | $9.7K | 150,000 | 0.0% | 18 |
| BLACKSKY TECHNOLOGY INC | [BKSYWS](https://holderbook.com/stocks/BKSYWS/) | $6.5K | 130,600 | 0.0% | 19 |
| SUNPOWER INC | [SPWRW](https://holderbook.com/stocks/SPWRW/) | $5.2K | 37,500 | 0.0% | 12 |
| PAGAYA TECHNOLOGIES LTD | [PGYWW](https://holderbook.com/stocks/PGYWW/) | $3.5K | 66,666 | 0.0% | 16 |
| PSQ HOLDINGS INC | [PSQHWS](https://holderbook.com/stocks/PSQHWS/) | $2.1K | 53,333 | 0.0% | 12 |
| SOUTHLAND HLDGS INC | [SLNDWS](https://holderbook.com/stocks/SLNDWS/) | $1.9K | 75,000 | 0.0% | 14 |
| KIDZ AI INC | [KIDZW](https://holderbook.com/stocks/KIDZW/) | $1.9K | 150,000 | 0.0% | 4 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +11.0% | +14.8% | -3.9% | 100% |
| Q1 2026 | +1.5% | -4.6% | +6.2% | 100% |
| Q4 2025 | +18.9% | +2.4% | +16.5% | 101% |
| Q3 2025 | -6.3% | +7.8% | -14.2% | 99% |
| Q2 2025 | -2.0% | +10.5% | -12.4% | 100% |
| Q1 2025 | -11.5% | -4.6% | -6.9% | 100% |
| Q4 2024 | +31.8% | +2.1% | +29.7% | 101% |
| Q3 2024 | +2.7% | +5.4% | -2.7% | 101% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.1B | 43 |
| Q1 2026 | $844.9M | 40 |
| Q4 2025 | $631.8M | 37 |
| Q3 2025 | $412.4M | 36 |
| Q2 2025 | $375.2M | 33 |
| Q1 2025 | $383.4M | 30 |
| Q4 2024 | $400.2M | 31 |
| Q3 2024 | $290.2M | 41 |
| Q2 2024 | $247.5M | 41 |
| Q1 2024 | $211.2M | 45 |
| Q4 2023 | $263.3M | 51 |
| Q3 2023 | $281.0M | 61 |