Sagil Capital LLP Hedge Fund

Location: London, United Kingdom

CIK: 0001747744 · Show all filings

Period: Q2 2026 (← Previous)

Filing Date: Aug 13, 2026

Total Value: $280M (100.0% shares, 0.0% debt)

Holdings (25)

New Positions (14)

EEM ISHARES TR 10.3%

Value $28.73M Shares 420,000 Est. Cost — Unrealized —

USO UNITED STS OIL FD LP 7.6%

Value $21.29M Shares 200,000 Est. Cost — Unrealized —

Value $16.26M Shares 1,000,000 Est. Cost $16.26 Unrealized —

EWZ ISHARES INC 3.7%

Value $10.35M Shares 300,000 Est. Cost — Unrealized —

TX TERNIUM SA 3.1%

Value $8.743M Shares 204,756 Est. Cost $42.70 Unrealized —

AZUL AZUL S A 2.7%

Value $7.583M Shares 843,494 Est. Cost $8.99 Unrealized —

DHT DHT HOLDINGS INC 2.7%

Value $7.503M Shares 453,888 Est. Cost $16.53 Unrealized —

PBR PETROLEO BRASILEIRO S A 2.3%

Value $6.464M Shares 400,000 Est. Cost — Unrealized —

PBR PETROLEO BRASILEIRO S A 2.0%

Value $5.656M Shares 350,000 Est. Cost — Unrealized —

EC ECOPETROL S A 1.0%

Value $2.848M Shares 200,000 Est. Cost $14.24 Unrealized —

DLO DLOCAL LTD 0.6%

Value $1.549M Shares 119,167 Est. Cost $12.99 Unrealized —

— LITHIUM ARGENTINA AG 0.4%

Value $1.247M Shares 1,274,000 Est. Cost $0.98 Unrealized —

EC ECOPETROL S A 0.4%

Value $1.066M Shares 74,889 Est. Cost $14.24 Unrealized —

USAS AMERICAS GOLD AND SILVER COR 0.2%

Value $561K Shares 118,933 Est. Cost $4.72 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EEM	ISHARES TR	420,000	$28.73M	10.3%	—	—	PUT	464287234
USO	UNITED STS OIL FD LP	200,000	$21.29M	7.6%	—	—	PUT	91232N207
XP	XP INC	1,000,000	$16.26M	5.8%	$16.26	—	CL A	G98239109
EWZ	ISHARES INC	300,000	$10.35M	3.7%	—	—	PUT	464286400
TX	TERNIUM SA	204,756	$8.743M	3.1%	$42.70	—	SPONSORED ADS	880890108
AZUL	AZUL S A	843,494	$7.583M	2.7%	$8.99	—	SPONSORED ADS	05501U601
DHT	DHT HOLDINGS INC	453,888	$7.503M	2.7%	$16.53	—	SHS NEW	Y2065G121
PBR	PETROLEO BRASILEIRO S A	400,000	$6.464M	2.3%	—	—	PUT	71654V408
PBR	PETROLEO BRASILEIRO S A	350,000	$5.656M	2.0%	—	—	CALL	71654V408
EC	ECOPETROL S A	200,000	$2.848M	1.0%	$14.24	—	PUT	279158109
DLO	DLOCAL LTD	119,167	$1.549M	0.6%	$12.99	—	CLASS A COM	G29018101
—	LITHIUM ARGENTINA AG	1,274,000	$1.247M	0.4%	$0.98	—	NOTE 1.750% 1/1	53680QAA6
EC	ECOPETROL S A	74,889	$1.066M	0.4%	$14.24	—	SPONSORED ADS	279158109
USAS	AMERICAS GOLD AND SILVER COR	118,933	$561K	0.2%	$4.72	—	COM NEW	03062D803

Increased Positions (5)

GGAL GRUPO FINANCIERO GALICIA S.A 11.8%

Value $32.95M (+204.1%) Shares 658,626 (+183.9%) Est. Cost $48.86 Unrealized —

VIST VISTA ENERGY S.A.B. DE C.V. 13.8%

Value $38.72M (+105.2%) Shares 606,919 (+142.8%) Est. Cost $68.61 Unrealized —

ZIM ZIM INTEGRATED SHIPPING SERV 6.1%

Value $17.03M (+138.1%) Shares 655,171 (+141.3%) Est. Cost $24.23 Unrealized —

NEXA NEXA RES S A 6.0%

Value $16.73M (+18.1%) Shares 1,366,754 (+2.2%) Est. Cost $6.71 Unrealized —

GLOB GLOBANT S A 2.1%

Value $5.953M (+72.1%) Shares 205,700 (+174.3%) Est. Cost $40.39 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GGAL	GRUPO FINANCIERO GALICIA S.A	658,626 (+183.9%)	$32.95M (+204.1%)	11.8%	$48.86	—	SPONSORED ADR	399909100
VIST	VISTA ENERGY S.A.B. DE C.V.	606,919 (+142.8%)	$38.72M (+105.2%)	13.8%	$68.61	—	SPONSORED ADS	92837L109
ZIM	ZIM INTEGRATED SHIPPING SERV	655,171 (+141.3%)	$17.03M (+138.1%)	6.1%	$24.23	—	SHS	M9T951109
NEXA	NEXA RES S A	1,366,754 (+2.2%)	$16.73M (+18.1%)	6.0%	$6.71	—	COM	L67359106
GLOB	GLOBANT S A	205,700 (+174.3%)	$5.953M (+72.1%)	2.1%	$40.39	—	COM	L44385109

Exited Positions (8)

— UNITED STS OIL FD LP 27.0%

Value $75.71M Shares 595,000 Est. Cost — Unrealized —

— ISHARES TR 8.5%

Value $23.85M Shares 420,000 Est. Cost — Unrealized —

TEO TELECOM ARGENTINA SA 4.8%

Value $13.52M Shares 1,156,409 Est. Cost $11.64 Unrealized —

TEN TSAKOS ENERGY NAVIGATION LTD 3.5%

Value $9.865M Shares 250,000 Est. Cost $21.29 Unrealized —

NU NU HLDGS LTD 3.1%

Value $8.622M Shares 600,000 Est. Cost $17.34 Unrealized —

AGRO ADECOAGRO S A 2.7%

Value $7.562M Shares 503,476 Est. Cost $8.62 Unrealized —

NTR NUTRIEN LTD 2.7%

Value $7.546M Shares 100,000 Est. Cost $68.11 Unrealized —

— PETROLEO BRASILEIRO S A 2.6%

Value $7.263M Shares 350,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	UNITED STS OIL FD LP	595,000	$75.71M	27.0%	—	—	PUT	91232N957
—	ISHARES TR	420,000	$23.85M	8.5%	—	—	PUT	464287954
TEO	TELECOM ARGENTINA SA	1,156,409	$13.52M	4.8%	$11.64	—	—	879273209
TEN	TSAKOS ENERGY NAVIGATION LTD	250,000	$9.865M	3.5%	$21.29	—	—	G9108L173
NU	NU HLDGS LTD	600,000	$8.622M	3.1%	$17.34	—	—	G6683N103
AGRO	ADECOAGRO S A	503,476	$7.562M	2.7%	$8.62	—	—	L00849106
NTR	NUTRIEN LTD	100,000	$7.546M	2.7%	$68.11	—	—	67077M108
—	PETROLEO BRASILEIRO S A	350,000	$7.263M	2.6%	—	—	CALL	71654V908

Decreased Positions (3)

ARIS ARIS MINING CORPORATION 1.7%

Value $4.637M (-44.6%) Shares 311,800 (-30.7%) Est. Cost $7.97 Unrealized —

CPAC CEMENTOS PACASMAYO S A A 0.7%

Value $1.884M (-29.8%) Shares 157,531 (-41.3%) Est. Cost $6.09 Unrealized —

BBAR BANCO BBVA ARGENTINA S A 3.5%

Value $9.824M (+2.0%) Shares 500,985 (-16.5%) Est. Cost $16.06 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ARIS	ARIS MINING CORPORATION	311,800 (-30.7%)	$4.637M (-44.6%)	1.7%	$7.97	—	COM	04040Y109
CPAC	CEMENTOS PACASMAYO S A A	157,531 (-41.3%)	$1.884M (-29.8%)	0.7%	$6.09	—	SPONSORED ADR	15126Q208
BBAR	BANCO BBVA ARGENTINA S A	500,985 (-16.5%)	$9.824M (+2.0%)	3.5%	$16.06	—	SPONSORED ADS	058934100

Unchanged Positions (3)

B BARRICK MNG CORP 5.2%

Value $14.69M Shares 400,000 Est. Cost $19.29 Unrealized —

PICS PICS NV 4.9%

Value $13.82M Shares 1,300,000 Est. Cost $10.45 Unrealized —

LQD ISHARES TR 1.4%

Value $3.948M Shares 36,200 Est. Cost $109.61 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
B	BARRICK MNG CORP	400,000	$14.69M	5.2%	$19.29	—	COM SHS	06849F108
PICS	PICS NV	1,300,000	$13.82M	4.9%	$10.45	—	COM CL A	N69958101
LQD	ISHARES TR	36,200	$3.948M	1.4%	$109.61	—	IBOXX INV CP ETF	464287242