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Livermore
Livermore
ZHEN

VR Advisory Services Ltd

SEC CIK
0001348145
Latest filing
Aug 14, 2026

The latest 13F from VR Advisory Services Ltd covers Q2 2026 (filed Aug 14, 2026): 43 long positions worth $1.13B. The top 10 holdings make up 64.3% of the portfolio, and the largest is Ypf Sociedad Anonima (YPF) at 13.0%. Livermore has 24 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
6
Est. +$178.7M
Added
12
Est. +$104.6M
Reduced
3
Est. −$38.5M
Sold out
3
Est. −$57.2M

Top 5 holdings

Share of this quarter's portfolio value

  1. YPFYpf Sociedad Anonima
    13.0%$146.9MHistory
  2. AEROGrupo Aeromexico, S.A.B. de C.V.
    8.6%$96.4MHistory
  3. KSPIJoint Stock Co Kaspi.kz
    8.1%$91.0MHistory
  4. AZULAzul SA
    7.1%$79.6MHistory
  5. AERAerCap Holdings N.V.
    5.8%$65.1MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. AZULAzul SA
    +$79.6MNewHistory
  2. DVNDevon Energy Corp
    +$39.4MNewHistory
  3. GLNGGolar LNG Ltd
    +$34.0MNewHistory
  4. PUMPProPetro Holding Corp.
    +$23.4MAddedHistory
  5. SVCService Properties Trust
    +$20.5MNewHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. AZULAzul SA
    +7.06 pp0.0% → 7.1%History
  2. DVNDevon Energy Corp
    +3.49 pp0.0% → 3.5%History
  3. GLNGGolar LNG Ltd
    +3.02 pp0.0% → 3.0%History
  4. SVCService Properties Trust
    +1.82 pp0.0% → 1.8%History
  5. PUMPProPetro Holding Corp.
    +1.01 pp4.2% → 5.2%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. CTRACoterra Energy Inc.
    −$47.8MSold outHistory
  2. CORZCore Scientific, Inc.
    −$22.0MReducedHistory
  3. MUMicron Technology Inc
    −$14.1MReducedHistory
  4. PARRPar Pacific Holdings, Inc.
    −$9.40MSold outHistory
  5. KSPIJoint Stock Co Kaspi.kz
    −$2.37MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. CTRACoterra Energy Inc.
    −5.66 pp5.7% → 0.0%History
  2. KSPIJoint Stock Co Kaspi.kz
    −1.38 pp9.4% → 8.1%History
  3. PARRPar Pacific Holdings, Inc.
    −1.11 pp1.1% → 0.0%History
  4. CORZCore Scientific, Inc.
    −0.75 pp4.3% → 3.5%History
  5. ASBPWAspire Biopharma Holdings, Inc.
    0.00 pp<0.1% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$1.13B
+$282.4M (+33.4%) vs. prior quarter
Positions
43
+3 vs. prior quarter
Top 10 concentration
64.3%
Top 10 as share of value
Turnover
9.7%
Q2 2026, one quarter
Average holding period
7.4 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $1.13B (Q2 2026)

Q1 2021: $206.6MQ2 2021: $249.9MQ3 2021: $247.3MQ4 2021: $234.7MQ1 2022: $212.3MQ2 2022: $224.4MQ3 2022: $272.7MQ4 2022: $269.1MQ1 2023: $307.2MQ2 2023: $311.4MQ3 2023: $281.0MQ4 2023: $263.3MQ1 2024: $211.2MQ2 2024: $247.5MQ3 2024: $290.2MQ4 2024: $400.2MQ1 2025: $383.4MQ2 2025: $375.2MQ3 2025: $412.4MQ4 2025: $631.8MQ1 2026: $844.9MQ2 2026: $1.13B
Q1 2021Q2 2026
13F filings of VR Advisory Services Ltd by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 202643$1.13BYPFAEROKSPIvs. Q1 2026SEC
Q1 2026May 15, 202640$844.9MYPFKSPIAEROvs. Q4 2025SEC
Q4 2025Feb 18, 2026Amended37$631.8MYPFAEROKSPIvs. Q3 2025SEC
Q3 2025Nov 14, 202536$412.4MKSPIYPFHEPSvs. Q2 2025SEC
Q2 2025Aug 14, 202533$375.2MYPFKSPIHEPSvs. Q1 2025SEC
Q1 2025May 15, 202530$383.4MYPFKSPIHEPSvs. Q4 2024SEC
Q4 2024Feb 14, 202531$400.2MYPFKSPIIRSvs. Q3 2024SEC
Q3 2024Nov 14, 202441$290.2MKSPIYPFIRSvs. Q2 2024SEC
Q2 2024Aug 14, 202441$247.5MKSPIYPFPAMvs. Q1 2024SEC
Q1 2024May 15, 202445$211.2MPAMYPFHTZvs. Q4 2023SEC
Q4 2023Feb 14, 202451$263.3MPAMHTZIRSvs. Q3 2023SEC
Q3 2023Nov 14, 202361$281.0MPAMHTZCNNEvs. Q2 2023SEC
Q2 2023Aug 14, 202360$311.4MPAMHTZCNNEvs. Q1 2023SEC
Q1 2023May 15, 202367$307.2MPAMHTZCNNEvs. Q4 2022SEC
Q4 2022Feb 14, 202372$269.1MPAMHTZCNNEvs. Q3 2022SEC
Q3 2022Nov 14, 202282$272.7MHTZPAMCNNEvs. Q2 2022SEC
Q2 2022Aug 15, 202266$224.4MHTZPAMCNNEvs. Q1 2022SEC
Q1 2022May 16, 2022Amended76$212.3MHTZPAMiShares Incvs. Q4 2021SEC
Q4 2021Feb 14, 202270$234.7MFEPAMiShares Incvs. Q3 2021SEC
Q3 2021Nov 15, 202158$247.3MFEPAMiShares Incvs. Q2 2021SEC
Q2 2021Aug 16, 202167$249.9MFEiShares IncPAMvs. Q1 2021SEC
Q1 2021May 17, 202154$206.6MFEPAMiShares Inc–SEC

13D and 13G filings

Companies where VR Advisory Services Ltd reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

2 companies, largest stake first.

Companies where VR Advisory Services Ltd owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
PUMPProPetro Holding Corp.13G5.70%7.02M sharesNewJul 10, 20261 filingJul 10, 2026SEC
HEPSD-MARKET Electronic Services & Trading13G5.20%18.4M shares+0.60 ppfrom 4.60%Feb 17, 20262 filingsJun 18, 2026SEC

Latest filings

14 filings on file made by VR Advisory Services Ltd or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by VR Advisory Services Ltd
CompanyFiled (ET)FilerFormStakeChangeEvent dateFiling
AZULAzul SAAug 14, 20264:06 PM ETVR Advisory Services Ltdand 5 others13G/A4.90%17.9M shares−0.40 ppfrom 5.30%Below 5%Jun 30, 2026SEC
PUMPProPetro Holding Corp.Jul 10, 20264:31 PM ETVR Advisory Services Ltdand 5 others13G5.70%7.02M sharesNewJul 6, 2026SEC
HEPSD-MARKET Electronic Services & TradingJun 18, 20265:44 PM ETVR Advisory Services Ltdand 5 others13G5.20%18.4M shares+0.60 ppfrom 4.60%Jun 17, 2026SEC
AZULAzul SAFeb 27, 20268:38 PM ETVR Advisory Services Ltdand 5 others13G5.30%2.88T sharesNewFeb 20, 2026SEC
HEPSD-MARKET Electronic Services & TradingFeb 17, 20264:05 PM ETVR Advisory Services Ltdand 5 others13G4.60%16.5M sharesNewBelow 5%Dec 31, 2025SEC
HEPSD-MARKET Electronic Services & TradingDec 2, 20255:30 PM ETVR Global Partners, L.P.and 5 others13G5.00%16.2M sharesNewDec 1, 2025SEC
AZULAzul SAMay 2, 20254:55 PM ETVR Advisory Services Ltdand 5 others13G0.00%0 sharesNewBelow 5%Apr 25, 2025SEC
PANLPangaea Logistics Solutions Ltd.Feb 14, 2022VR Advisory Services Ltd13G/AOld format–––SEC
ONYXOnyx Acquisition Co. INov 15, 2021VR Advisory Services Ltd13GOld format–New–SEC
NFYSEnphys Acquisition Corp.Oct 15, 2021VR Advisory Services Ltd13GOld format–New–SEC
IXAQFIX Acquisition Corp.Oct 15, 2021VR Advisory Services Ltd13GOld format–New–SEC
Parabellum Acquisition Corp.Oct 8, 2021VR Advisory Services Ltd13GOld format–New–SEC
PANLPangaea Logistics Solutions Ltd.May 6, 2021VR Advisory Services Ltd13GOld format–New–SEC
NextSource Materials Inc.Feb 16, 2021VR Advisory Services Ltd13G/AOld format–––SEC