Q2 2026 13F · SEC CIK 1724140
Gemsstock Ltd.
Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗
- Reported 13F value
- $307.5M
- Reported positions
- 13
- Top holdings a year, 3 yrs
- +26.2%
- Average holding period
- 1.1 yrs
Gemsstock Ltd. is a hedge fund that reported 13 positions worth $307.5M in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Vaneck ETF Trust (GDX, 18.8%), Vista Energy S.a.b. de C.v. (VIST, 14.8%), Kaspi Kz Jsc (KSPI, 11.1%). A portfolio copying its top holdings returned 26.2% a year over the last 3 years, against 20.4% for the S&P 500.
Gemsstock Ltd. holdings all 13 positions.
Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.
| Stock | % of 13F value | Share change | Reported value |
|---|---|---|---|
| GDXVaneck ETF Trust | 18.8% | +275.8% | $57.9M |
| VISTVista Energy S.a.b. de C.v. | 14.8% | +6.4% | $45.5M |
| KSPIKaspi Kz Jsc | 11.1% | -22.5% | $34.2M |
| GPORGulfport Energy Corp | 7.7% | -72.5% | $23.7M |
| BMABanco Macro S A | 7.2% | — | $22.0M |
| NUNu Hldgs Ltd | 6.4% | +13.7% | $19.8M |
| ITUBItau Unibanco Hldg S A | 6.2% | -3.8% | $18.9M |
| EQXEquinox Gold Corp | 6.0% | -77.1% | $18.5M |
| MELIMercadolibre Inc | 6.0% | +0.0% | $18.4M |
| PBRPetroleo Brasileiro S A Sponsored ADR (b | 4.9% | — | $15.2M |
| YPFYpf Sociedad Anonima | 4.7% | — | $14.4M |
| EGOEldorado Gold Corp | 3.6% | +14.2% | $11.2M |
| CAAPCorporacion Amer Arpts S A | 2.5% | — | $7.8M |
What Gemsstock Ltd. bought and sold in Q2 2026, against Q1 2026.
New positions
- BMA Banco Macro S A7.2% of 13F
- PBR Petroleo Brasileiro S A Sponsored ADR (b4.9% of 13F
- YPF Ypf Sociedad Anonima4.7% of 13F
- CAAP Corporacion Amer Arpts S A2.5% of 13F
Added to
- GDX Vaneck ETF Trust+275.8% shares
- EGO Eldorado Gold Corp+14.2% shares
- NU Nu Hldgs Ltd+13.7% shares
- VIST Vista Energy S.a.b. de C.v.+6.4% shares
Reduced
- EQX Equinox Gold Corp-77.1% shares
- GPOR Gulfport Energy Corp-72.5% shares
- KSPI Kaspi Kz Jsc-22.5% shares
Sold out
- AMZN Amazon Com Incwas 6.3%
- B Barrick Mng Corpwas 5.9%
- EXE Expand Energy Corporationwas 5.1%
- EQT Eqt Corpwas 4.9%
- AR Antero Resources Corpwas 4.4%
- NEM Newmont Corpwas 4.3%
- GOOG Alphabet Incwas 4.0%
- UBS Ubs Group AGwas 2.6%
Share counts compared with the Q1 2026 13F; a split also changes share counts.
How the holdings did against the S&P 500.
- 1 year
- +39.6% /yr
- S&P 500 +20.1%
- 3 years
- +26.2% /yr
- S&P 500 +20.4%
- 5 years
- +12.8% /yr
- S&P 500 +11.6%
A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.
Reported 13F value by quarter.
| Quarter | 13F value | Positions |
|---|---|---|
| Q2 2026 | $307.5M | 13 |
| Q1 2026 | $948.8M | 28 |
| Q4 2025 | $793.4M | 22 |
| Q3 2025 | $486.1M | 15 |
| Q2 2025 | $560.9M | 17 |
| Q1 2025 | $265.4M | 18 |
| Q4 2024 | $483.2M | 16 |
| Q3 2024 | $206.8M | 9 |
| Q2 2024 | $313.7M | 13 |
| Q1 2024 | $265.0M | 13 |
| Q4 2023 | $269.4M | 13 |
| Q3 2023 | $228.0M | 9 |
Questions about Gemsstock Ltd.'s portfolio
What stocks does Gemsstock Ltd. own?
Gemsstock Ltd.'s latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 13 positions worth $307.5M. The largest are Vaneck ETF Trust (GDX) at 18.8%, Vista Energy S.a.b. de C.v. (VIST) at 14.8%, Kaspi Kz Jsc (KSPI) at 11.1%, Gulfport Energy Corp (GPOR) at 7.7% and Banco Macro S A (BMA) at 7.2%.
What did Gemsstock Ltd. buy last quarter?
In Q2 2026, Gemsstock Ltd. added a new position in Banco Macro S A (BMA), a new position in Petroleo Brasileiro S A Sponsored ADR (b (PBR), a new position in Ypf Sociedad Anonima (YPF), a new position in Corporacion Amer Arpts S A (CAAP), Vaneck ETF Trust (GDX) (+275.8% shares), Eldorado Gold Corp (EGO) (+14.2% shares) and Nu Hldgs Ltd (NU) (+13.7% shares), compared with its Q1 2026 filing.
What did Gemsstock Ltd. sell last quarter?
In Q2 2026, Gemsstock Ltd. sold all of Amazon Com Inc (AMZN), sold all of Barrick Mng Corp (B), sold all of Expand Energy Corporation (EXE), sold all of Eqt Corp (EQT), sold all of Antero Resources Corp (AR), Equinox Gold Corp (EQX) (-77.1% shares), Gulfport Energy Corp (GPOR) (-72.5% shares) and Kaspi Kz Jsc (KSPI) (-22.5% shares), compared with its Q1 2026 filing.
How has Gemsstock Ltd.'s portfolio performed?
A portfolio copying Gemsstock Ltd.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +26.2% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +39.6% against +20.1%. Over 5 years: +12.8% a year against +11.6%.
When is Gemsstock Ltd.'s next 13F filing due?
13F filings are due 45 days after each quarter ends. Gemsstock Ltd.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.