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VR ADVISORY SERVICES LTD

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CAMANA BAY, GRAND CAYMAN E9 Investment Advisor Hedge Fund
13F Summary

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Equal-WT
WhaleScore 2.0 ?

85

S&P 500
WhaleScore ?

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Equal-WT
WhaleScore 1.0 ?

VR Advisory Services LTD is based out of Camana Bay, Grand Cayman. VR Advisory Services LTD is a hedge fund with 6 clients and discretionary assets under management (AUM) of $6,363,654,108 (Form ADV from 2024-12-02). Their last reported 13F filing for Q1 2025 included $383,434,299 in managed 13F securities and a top 10 holdings concentration of 90.48%. VR Advisory Services LTD's largest holding is YPF S.A. ADR with shares held of 3,405,533. Whalewisdom has at least 43 13F filings, 20 13G filings, and 3 Form 4 filings
Business Description
VR Advisory Services Ltd researches, evaluates, and executes investments in various assets, including debt and equity securities and derivatives. These investments are made on behalf of clients and are guided by the client's Limited Partnership Agreement, Memorandum & Articles of Association, Investment Advisory Agreement, and other governing documents. The investment strategies are also aligned with the Private Offering/Placement Memoranda of the VR Feeder Funds. More detailed information regarding the methods of analysis, investment strategies, and associated risks can be found in Item 8 of the brochure. Investors are encouraged to thoroughly review the relevant Private Offering/Placement Memoranda, Limited Partnership Agreements, Memoranda & Articles of Association, Investment Advisory Agreements, and other governing documents for additional information.
Investment Strategy
The Funds employ a range of investment strategies, including distressed securities (both corporate and sovereign), special situations, value-oriented, relative value, and arbitrage-oriented investment theses. These strategies are implemented across a wide variety of instruments, such as bonds, loans, equities (listed and unlisted), private securities, real assets, pooled investment vehicles, repurchase agreements, futures, forwards, swaps, options, other derivative securities, and local currency and interest rate products. For Clients, investments are researched, evaluated, and executed in various assets, including debt and equity securities and derivatives, in accordance with governing documents and investment strategies outlined in offering memoranda. SMA investment strategies are specifically tailored and may involve investments in unlisted securities and Externally Managed Funds, which are highly illiquid and subject to potential restrictions, limits, and withdrawal restrictions.
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2025-03-31

Top Buys (13F)

Name % Change
HEPS D-MARKET Electronic 7.15%
KSPI Kaspi.kz JSC 3.35%
PUMP ProPetro Holding Cor 2.25%
PBF PBF Energy Inc 0.52%
FLDDW Fold Holdings inc. 0.04%

2025-03-31

Top Sells (13F)

Name % Change
NBIS Nebius Group NV 3.74%
TGS Transportadora de Ga 1.61%
BABA Alibaba Group Holdin 0.53%
NIO NIO Inc 0.16%

2025-03-31

13F Holdings Summary

Name $ Change
YPF YPF S.A. ADR 31.12%
KSPI Kaspi.kz JSC 23.14%
HEPS D-MARKET Electronic 9.23%
IRS Irsa Inversiones Y R 7.58%
PAM Pampa Energia S.A 5.48%

2025-03-31

13F Activity

Market Value $383m, Prior: $400m
Inflows (Outflows) as % of Total MV +7.186%
New Purchases 2 stocks
Added To 3 stocks
Sold out of 3 stocks
Reduced holdings in 1 stocks
Top 10 Holdings % 90.48%
Turnover %[1] 15.15%
Turnover Alt %[2] 6.12%
Time Held Top 20 7.45 quarters
Time Held Top 10 10 quarters
Time Held All 12.27 quarters

[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.

[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.

2025-03-31

13F Sector Allocation Over Time

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2025-03-31

Analysis

Top 20 equal-weighted holdings. Performance numbers calculated through 2025-03-31

Portfolio Performance