# Glenorchy Capital Ltd

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2008506. Source: https://holderbook.com/funds/2008506-glenorchy-capital-ltd/

- Reported value: $2.7B
- Positions: 63
- Weight of the ten largest: 95.9%
- Filed: 2026-07-29

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 |
|---|---|---|---|---|---|
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $2.3B | 0 | 86.2% | 5 |
| ISHARES TR | [TLT](https://holderbook.com/stocks/TLT/) | $206.5M | 0 | 7.6% | 5 |
| VALARIS LTD | [VAL](https://holderbook.com/stocks/VAL/) | $10.2M | 30,034 | 0.4% | 11 |
| ISHARES INC | [EWZ](https://holderbook.com/stocks/EWZ/) | $9.3M | 268,876 | 0.3% | 4 |
| VANECK ETF TRUST | [GDX](https://holderbook.com/stocks/GDX/) | $8.0M | 106,062 | 0.3% | 11 |
| FRONTLINE PLC | [FRO](https://holderbook.com/stocks/FRO/) | $6.5M | 187,906 | 0.2% | 11 |
| ISHARES INC | [ECH](https://holderbook.com/stocks/ECH/) | $6.2M | 156,160 | 0.2% | 2 |
| ISHARES TR | [ECNS](https://holderbook.com/stocks/ECNS/) | $5.7M | 203,667 | 0.2% | 4 |
| PAMPA ENERGIA S A | [PAM](https://holderbook.com/stocks/PAM/) | $5.4M | 65,655 | 0.2% | 11 |
| YPF SOCIEDAD ANONIMA | [YPF](https://holderbook.com/stocks/YPF/) | $5.2M | 115,298 | 0.2% | 11 |
| BANCO BBVA ARGENTINA S A | [BBAR](https://holderbook.com/stocks/BBAR/) | $5.2M | 263,410 | 0.2% | 11 |
| BANCO MACRO SA | [BMA](https://holderbook.com/stocks/BMA/) | $4.6M | 49,879 | 0.2% | 11 |
| TECHNIPFMC PLC | [FTI](https://holderbook.com/stocks/FTI/) | $4.5M | 68,312 | 0.2% | 11 |
| CENTRAL PUERTO S A | [CEPU](https://holderbook.com/stocks/CEPU/) | $4.4M | 298,810 | 0.2% | 11 |
| INTERNATIONAL SEAWAYS INC | [INSW](https://holderbook.com/stocks/INSW/) | $4.1M | 53,538 | 0.2% | 11 |
| DHT HOLDINGS INC | [DHT](https://holderbook.com/stocks/DHT/) | $4.0M | 240,458 | 0.1% | 11 |
| TSAKOS ENERGY NAVIGATION LTD | [TEN](https://holderbook.com/stocks/TEN/) | $3.9M | 111,180 | 0.1% | 11 |
| CRESUD S A C I F Y A | [CRESY](https://holderbook.com/stocks/CRESY/) | $3.8M | 338,520 | 0.1% | 11 |
| TRANSOCEAN LTD | [RIG](https://holderbook.com/stocks/RIG/) | $3.7M | 764,300 | 0.1% | 11 |
| SASOL LTD | [SSL](https://holderbook.com/stocks/SSL/) | $3.5M | 357,657 | 0.1% | 2 |
| SIBANYE STILLWATER LTD | [SBSW](https://holderbook.com/stocks/SBSW/) | $3.2M | 380,466 | 0.1% | 8 |
| SEADRILL LTD | [SDRL](https://holderbook.com/stocks/SDRL/) | $3.1M | 82,323 | 0.1% | 2 |
| NOBLE CORP PLC | [NE](https://holderbook.com/stocks/NE/) | $3.0M | 81,516 | 0.1% | 11 |
| OCEANEERING INTL INC | [OII](https://holderbook.com/stocks/OII/) | $3.0M | 74,354 | 0.1% | 11 |
| LSB INDS INC | [LXU](https://holderbook.com/stocks/LXU/) | $2.9M | 266,876 | 0.1% | 2 |
| BORR DRILLING LTD | [BORR](https://holderbook.com/stocks/BORR/) | $2.5M | 612,198 | 0.1% | 3 |
| PEABODY ENGR CORP | [BTU](https://holderbook.com/stocks/BTU/) | $2.5M | 109,113 | 0.1% | 11 |
| TEEKAY TANKERS LTD | [TNK](https://holderbook.com/stocks/TNK/) | $2.5M | 37,937 | 0.1% | 7 |
| EQT CORP | [EQT](https://holderbook.com/stocks/EQT/) | $2.3M | 42,831 | 0.1% | 11 |
| WEATHERFORD INTL PLC | [WFRD](https://holderbook.com/stocks/WFRD/) | $2.3M | 27,889 | 0.1% | 3 |
| CNX RES CORP | [CNX](https://holderbook.com/stocks/CNX/) | $2.3M | 66,807 | 0.1% | 11 |
| RANGE RES CORP | [RRC](https://holderbook.com/stocks/RRC/) | $2.1M | 56,989 | 0.1% | 11 |
| SCORPIO TANKERS INC | [STNG](https://holderbook.com/stocks/STNG/) | $2.1M | 30,521 | 0.1% | 11 |
| ANTERO RESOURCES CORP | [AR](https://holderbook.com/stocks/AR/) | $2.1M | 59,607 | 0.1% | 11 |
| INTREPID POTASH INC | [IPI](https://holderbook.com/stocks/IPI/) | $2.0M | 61,006 | 0.1% | 11 |
| ARDMORE SHIPPING CORP | [ASC](https://holderbook.com/stocks/ASC/) | $1.9M | 135,775 | 0.1% | 11 |
| GEOPARK LTD | [GPRK](https://holderbook.com/stocks/GPRK/) | $1.9M | 205,785 | 0.1% | 7 |
| TIDEWATER INC NEW | [TDW](https://holderbook.com/stocks/TDW/) | $1.8M | 27,609 | 0.1% | 11 |
| HELIX ENERGY SOLUTIONS GRP I | [HLX](https://holderbook.com/stocks/HLX/) | $1.8M | 210,068 | 0.1% | 11 |
| EXPRO GROUP HOLDINGS NV | [XPRO](https://holderbook.com/stocks/XPRO/) | $1.7M | 114,969 | 0.1% | 11 |
| ICL GROUP LTD | [ICL](https://holderbook.com/stocks/ICL/) | $1.7M | 340,574 | 0.1% | 11 |
| SEACOR MARINE HLDGS INC | [SMHI](https://holderbook.com/stocks/SMHI/) | $1.7M | 219,261 | 0.1% | 8 |
| MOSAIC CO | [MOS](https://holderbook.com/stocks/MOS/) | $1.7M | 78,625 | 0.1% | 11 |
| COMSTOCK RES INC | [CRK](https://holderbook.com/stocks/CRK/) | $1.5M | 102,948 | 0.1% | 11 |
| CORE NATURAL RESOURCES INC | [CNR](https://holderbook.com/stocks/CNR/) | $1.5M | 18,837 | 0.1% | 6 |
| EXPAND ENERGY CORPORATION | [EXE](https://holderbook.com/stocks/EXE/) | $1.3M | 14,697 | 0.0% | 11 |
| OKEANIS ECO TANKERS COR | [ECO](https://holderbook.com/stocks/ECO/) | $1.3M | 26,198 | 0.0% | 11 |
| TRANSPORTADORA DE GAS DEL SU | [TGS](https://holderbook.com/stocks/TGS/) | $1.3M | 42,920 | 0.0% | 11 |
| BRITISH AMERN TOB PLC | [BTI](https://holderbook.com/stocks/BTI/) | $1.2M | 18,660 | 0.0% | 11 |
| ECOPETROL S A | [EC](https://holderbook.com/stocks/EC/) | $1.1M | 77,125 | 0.0% | 11 |
| BW LPG LTD | [BWLP](https://holderbook.com/stocks/BWLP/) | $1.0M | 59,240 | 0.0% | 8 |
| IRSA INVERSIONES Y REP S A | [IRS](https://holderbook.com/stocks/IRS/) | $1.0M | 66,697 | 0.0% | 11 |
| STAR BULK CARRIERS CORP. | [SBLK](https://holderbook.com/stocks/SBLK/) | $1.0M | 40,242 | 0.0% | 9 |
| PETROLEO BRASILEIRO S A | [PBR](https://holderbook.com/stocks/PBR/) | $958.7K | 59,324 | 0.0% | 11 |
| TORM PLC | [TRMD](https://holderbook.com/stocks/TRMD/) | $909.4K | 34,898 | 0.0% | 11 |
| HAFNIA LTD | [HAFN](https://holderbook.com/stocks/HAFN/) | $830.1K | 127,066 | 0.0% | 7 |
| SM ENERGY COMPANY | [SM](https://holderbook.com/stocks/SM/) | $774.0K | 29,653 | 0.0% | 2 |
| CAL MAINE FOODS INC | [CALM](https://holderbook.com/stocks/CALM/) | $727.6K | 9,031 | 0.0% | 4 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $672.1K | 0 | 0.0% | 11 |
| WEIBO CORP | [WB](https://holderbook.com/stocks/WB/) | $562.6K | 77,498 | 0.0% | 4 |
| GEOSPACE TECHNOLOGIES CORP | [GEOS](https://holderbook.com/stocks/GEOS/) | $463.7K | 68,488 | 0.0% | 11 |
| MIND C T I LTD | [MNDO](https://holderbook.com/stocks/MNDO/) | $165.3K | 160,513 | 0.0% | 11 |
| DIANA SHIPPING INC | [DSX](https://holderbook.com/stocks/DSX/) | $33.0K | 0 | 0.0% | 9 |

## 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 | -11.3% | +14.8% | -26.1% | 94% |
| Q1 2026 | +15.1% | -4.6% | +19.7% | 96% |
| Q4 2025 | +12.5% | +2.4% | +10.2% | 96% |
| Q3 2025 | +5.5% | +7.8% | -2.4% | 97% |
| Q2 2025 | +8.0% | +10.5% | -2.4% | 98% |
| Q1 2025 | -2.8% | -4.6% | +1.8% | 95% |
| Q4 2024 | +3.6% | +2.1% | +1.5% | 87% |
| Q3 2024 | -2.7% | +5.4% | -8.2% | 85% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $2.7B | 63 |
| Q1 2026 | $1.7B | 66 |
| Q4 2025 | $1.6B | 63 |
| Q3 2025 | $679.9M | 63 |
| Q2 2025 | $670.6M | 62 |
| Q1 2025 | $297.0M | 60 |
| Q4 2024 | $170.8M | 61 |
| Q3 2024 | $319.3M | 64 |
| Q2 2024 | $322.4M | 63 |
| Q1 2024 | $283.7M | 65 |
| Q4 2023 | $258.1M | 70 |