VR Advisory Services Ltd

CAMANA BAY, GRAND CAYMAN, E9 · CIK 1348145 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2006 · corporation

Assets managed$9.8bn
Staff42 · 13 in investment roles
Main clients (by assets)Private funds 99%, Companies 1%
Private funds2 (2 hedge) · $9.6bn gross assets
Main officeNew York, NY
Form ADV · 2026-03-31SEC adviser record

Legal entityVR ADVISORY SERVICES LTD (KY)

$1.1bn reported value +33.4% vs Q1 2026

43positions

64.3%in top 10

6 new 12 added 3 reduced 3 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	YPF SOCIEDAD ANONIMA SPON ADR CL D YPF	YPF	3,231,396	$146.9m13.03%	13.03%	Unchanged
2	GRUPO AEROMEXICO SAB DE CV SPONSORED ADS AERO	AERO	5,355,255	$96.4m8.55%	8.55%	Added +167.8k	+167,832 3.2%
3	KASPI KZ JSC SPONSORED ADS KSPI	KSPI	1,049,999	$91.0m8.07%	8.07%	Reduced -27.4k	-27,370 -2.5%
4	AZUL S A SPONSORED ADS AZUL	AZUL	8,854,652	$79.6m7.06%	7.06%	New
5	AERCAP HOLDINGS NV SHS AER	AER	446,793	$65.1m5.78%	5.78%	Added +62.0k	+62,000 16.1%
6	PROPETRO HLDG CORP COM PUMP	PUMP	4,097,401	$58.8m5.21%	5.21%	Added +1.6m	+1,632,488 66.2%
7	D MARKET ELECTR SVCS & TRADI SPONSORED ADS HEPS	HEPS	19,390,670	$56.4m5.01%	5.01%	Added +2.9m	+2,917,849 17.7%
8	LIFE TIME GROUP HOLDINGS INC COMMON STOCK LTH	LTH	1,221,597	$49.9m4.43%	4.43%	Added +42.0k	+42,003 3.6%
9	IRSA INVERSIONES Y REP S A SPON GDS ECH 10 IRS	IRS	2,670,087	$41.2m3.66%	3.66%	Unchanged
10	CORE SCIENTIFIC INC NEW COM CORZ	CORZ	1,552,206	$39.7m3.52%	3.52%	Reduced -860.7k	-860,748 -35.7%
11	DEVON ENERGY CORP NEW COM DVN	DVN	952,565	$39.4m3.49%	3.49%	New
12	LULULEMON ATHLETICA INC COM LULU	LULU	309,402	$35.3m3.13%	3.13%	Added +160.7k	+160,700 108.1%
13	GOLAR LNG LTD SHS GLNG	GLNG	682,493	$34.0m3.02%	3.02%	New
14	GANNETT CO INC COM TDAY	TDAY	3,698,460	$31.6m2.80%	2.80%	Added +17.0k	+16,977 0.5%
15	VEON LTD SPONSORED ADS VEON	VEON	601,205	$31.4m2.78%	2.78%	Added +207.6k	+207,558 52.7%
16	TELEPHONE & DATA SYS INC COM NEW TDS	TDS	800,904	$29.6m2.63%	2.63%	Added +70.0k	+70,000 9.6%
17	KYIVSTAR GROUP LTD ORD SHS KYIV	KYIV	1,666,276	$26.9m2.39%	2.39%	Unchanged
18	NU HLDGS LTD ORD SHS CL A NU	NU	1,993,668	$26.6m2.36%	2.36%	Added +993.7k	+993,668 99.4%
19	VISTA ENERGY S.A.B. DE C.V. SPONSORED ADS VIST	VIST	368,652	$23.5m2.09%	2.09%	Unchanged
20	SERVICE PPTYS TR COM SH BEN INT COM SH BEN INT		12,132,933	$20.5m1.82%	1.82%	New
21	PAMPA ENERGIA S A SPONS ADR LVL I PAM	PAM	232,138	$19.1m1.69%	1.69%	Unchanged
22	OKEANIS ECO TANKERS COR SHS ECO	ECO	343,729	$17.2m1.53%	1.53%	Unchanged
23	GEOPARK LTD USD SHS GPRK	GPRK	1,890,957	$17.2m1.53%	1.53%	Added +1.1m	+1,148,479 154.7%
24	MICRON TECHNOLOGY INC COM MU	MU	10,750	$12.4m1.10%	1.10%	Reduced -12.2k	-12,250 -53.3%
25	CF INDS HLDGS INC COM CF	CF	110,780	$12.0m1.06%	1.06%	Added +30.0k	+30,000 37.1%
26	CRESUD S A C I F Y A SPONSORED ADR CRESY	CRESY	692,830	$7.8m0.69%	0.69%	Unchanged
27	TRANSPORTADORA DE GAS SUR SPONSORED ADS B TGS	TGS	195,115	$5.8m0.51%	0.51%	Unchanged
28	NEWMONT CORP COM NEM	NEM	55,187	$5.2m0.46%	0.46%	Unchanged
29	HAFNIA LTD SHS HAFN	HAFN	766,069	$5.1m0.45%	0.45%	New
30	SOLANA CO COM CL A NEW HSDT	HSDT	581,310	$959.2k0.09%	0.09%	Unchanged
31	VOLATILITY SHS TR SOLANA ETF SOLZ	SOLZ	58,000	$428.0k0.04%	0.04%	Unchanged
32	STABLECOINX INC *W EXP 06/25/203 USDEW	USDEW	200,000	$82.0k0.01%	0.01%	New
33	SOUNDHOUND AI INC *W EXP 04/26/202 SOUNW	SOUNW	25,000	$48.0k0.00%	0.00%	Unchanged
34	ALLIANCE ENTERTAINMENT HOLDI *W EXP 02/11/202 AENTW	AENTW	100,000	$43.0k0.00%	0.00%	Unchanged
35	NIOCORP DEVS LTD *W EXP 03/17/202 NIOBW	NIOBW	15,356	$21.5k0.00%	0.00%	Unchanged
36	FTAC EMERALD ACQUISITION COR *W EXP 10/19/202 FLDDW	FLDDW	187,500	$19.2k0.00%	0.00%	Unchanged
37	BAKKT HOLDINGS INC W EXP 10/25/202 W EXP 10/25/202		150,000	$9.7k0.00%	0.00%	Unchanged
38	BLACKSKY TECHNOLOGY INC W EXP 09/09/202 W EXP 09/09/202		130,600	$6.5k0.00%	0.00%	Unchanged
39	COMPLETE SOLARIA INC *W EXP 07/31/202 SPWRW	SPWRW	37,500	$5.2k0.00%	0.00%	Unchanged
40	PAGAYA TECHNOLOGIES LTD *W EXP 09/01/202 PGYWW	PGYWW	66,666	$3.5k0.00%	0.00%	Unchanged
41	PSQ HOLDINGS INC *W EXP 99/99/999 PSQH.WS	PSQH.WS	53,333	$2.1k0.00%	0.00%	Unchanged
42	SOUTHLAND HLDGS INC *W EXP 02/14/202 SLND.WS	SLND.WS	75,000	$1.9k0.00%	0.00%	Unchanged
43	CLASSOVER HLDGS INC *W EXP 04/03/203 KIDZW	KIDZW	150,000	$1.9k0.00%	0.00%	Unchanged

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
COTERRA ENERGY INC CTRA	CTRA	1,360,808	$47.8m1.4m shares
PAR PAC HOLDINGS INC PARR	PARR	150,000	$9.4m150.0k shares
ASPIRE BIOPHARMA HLDGS INC ASBPW	ASBPW	99,692	$1.7k99.7k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
PROPETRO HLDG CORP PUMP · 13G · filed 2026-07-10	PUMP	5.7%≈ $100.7m	new	13G	2026-07-10
D MARKET ELECTR SVCS & TRADI HEPS · 13G · filed 2026-06-18	HEPS	5.2%	+0.6 pts	13G	2026-06-18