Q4 2025 · 13F-HR
Banco BTG Pactual S.A.holdings as filed
Filed 2026-02-12 · accession 0001536080-26-000001
$585.1M
Reported value
163
Positions
2025-12-31
Period end
The Brief · Banco BTG Pactual S.A. · Q4 2025
AI · grounded in 13F
Banco BTG Pactual S.A. closed its position in JBS, reducing exposure by $143.17M. The fund also exited positions in KWEB and EEM, while trimming its stake in C by 77.44%. On the buy side, the fund established a new position in FLUT worth $10.75M and increased its holdings in BKNG by 152.27%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 67066G104 | NVDA | NVIDIA CORPORATION | $52.5M | 8.98% | 281,651 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $44.7M | 7.63% | 67,660 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $37.7M | 6.45% | 78,008 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $33.5M | 5.72% | 110,096 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $33.2M | 5.68% | 144,000 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INC | $17.8M | 3.04% | 56,605 | Common | SOLE |
| G6683N103 | NU | NU HLDGS LTD | $16.3M | 2.78% | 971,116 | Common | SOLE |
| 01609W102 | BABA | ALIBABA GROUP HLDG LTD | $14.7M | 2.51% | 100,013 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $13.8M | 2.36% | 44,120 | Common | SOLE |
| 09857L108 | BKNG | BOOKING HOLDINGS INC | $13.7M | 2.34% | 2,553 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC | $12.4M | 2.11% | 35,691 | Common | SOLE |
| 233051879 | ASHR | DBX ETF TR | $11.5M | 1.97% | 350,000 | Common | SOLE |
| G3643J108 | FLUT | FLUTTER ENTMT PLC | $10.8M | 1.84% | 50,000 | Common | SOLE |
| 92826C839 | V | VISA INC | $10.5M | 1.80% | 30,072 | Common | SOLE |
| 464286400 | EWZ | ISHARES INC | $8.8M | 1.51% | 41,000 | CALL | SOLE |
| 37954Y632 | AIQ | GLOBAL X FDS | $8.8M | 1.50% | 172,818 | Common | SOLE |
| 78463V107 | GLD | SPDR GOLD TR | $8.6M | 1.46% | 1,600 | CALL | SOLE |
| 51817R205 | LTM | LATAM AIRLINES GROUP SA | $8.4M | 1.43% | 155,200 | Common | SOLE |
| 722304102 | PDD | PDD HOLDINGS INC | $7.8M | 1.34% | 68,967 | Common | SOLE |
| 697660207 | PAM | PAMPA ENERGIA S A | $7.8M | 1.33% | 88,217 | Common | SOLE |
| 00724F101 | ADBE | ADOBE INC | $7.0M | 1.20% | 20,000 | Common | SOLE |
| L44385109 | GLOB | GLOBANT S A | $6.8M | 1.16% | 103,900 | Common | SOLE |
| 532457108 | LLY | ELI LILLY & CO | $6.7M | 1.15% | 6,240 | Common | SOLE |
| 654106103 | NKE | NIKE INC | $6.3M | 1.08% | 99,190 | Common | SOLE |
| 37954Y871 | URA | GLOBAL X FDS | $6.2M | 1.05% | 144,066 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD INCORPORATED | $6.1M | 1.04% | 10,645 | Common | SOLE |
| 90353T100 | UBER | UBER TECHNOLOGIES INC | $6.0M | 1.03% | 73,890 | Common | SOLE |
| 46138E354 | SPLV | INVESCO EXCH TRADED FD TR II | $6.0M | 1.02% | 83,513 | Common | SOLE |
| 46138E628 | KBWB | INVESCO EXCH TRADED FD TR II | $5.5M | 0.94% | 65,000 | Common | SOLE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY INC DEL | $5.3M | 0.90% | 10,496 | Common | SOLE |
| 464286400 | EWZ | ISHARES INC | $5.1M | 0.87% | 160,209 | Common | SOLE |
| 20441A102 | SBS | COMPANHIA DE SANEAMENTO BASI | $5.1M | 0.86% | 212,083 | Common | SOLE |
| 58733R102 | MELI | MERCADOLIBRE INC | $5.0M | 0.85% | 2,480 | Common | SOLE |
| 36828A101 | GEV | GE VERNOVA INC | $4.6M | 0.78% | 7,000 | Common | SOLE |
| 05961W105 | BMA | BANCO MACRO SA | $4.3M | 0.73% | 47,477 | Common | SOLE |
| 81369Y407 | XLY | SELECT SECTOR SPDR TR | $4.3M | 0.73% | 35,693 | Common | SOLE |
| 81369Y209 | XLV | SELECT SECTOR SPDR TR | $4.2M | 0.73% | 27,420 | Common | SOLE |
| 934423104 | WBD | WARNER BROS DISCOVERY INC | $4.2M | 0.71% | 144,828 | Common | SOLE |
| 399909100 | GGAL | GRUPO FINANCIERO GALICIA S.A | $4.0M | 0.68% | 74,285 | Common | SOLE |
| 85208P808 | URNJ | SPROTT FDS TR | $3.9M | 0.67% | 155,800 | Common | SOLE |
| 44812J104 | HUT | HUT 8 CORP | $3.9M | 0.67% | 85,000 | Common | SOLE |
| 879273209 | TEO | TELECOM ARGENTINA SA | $3.8M | 0.65% | 327,501 | Common | SOLE |
| 172967424 | C | CITIGROUP INC | $3.7M | 0.63% | 31,472 | Common | SOLE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $3.3M | 0.57% | 10,336 | Common | SOLE |
| 893870204 | TGS | TRANSPORTADORA DE GAS SUR | $3.3M | 0.56% | 106,060 | Common | SOLE |
| P5626F128 | IFS | INTERCORP FINL SVCS INC | $3.2M | 0.55% | 75,300 | Common | SOLE |
| 46138G615 | SOXQ | INVESCO EXCH TRADED FD TR II | $3.0M | 0.52% | 54,345 | Common | SOLE |
| G85158106 | STNE | STONECO LTD | $2.8M | 0.48% | 190,000 | Common | SOLE |
| 29278D105 | ENIC | ENEL CHILE S.A. | $2.8M | 0.47% | 690,017 | Common | SOLE |
| 50212V100 | LPLA | LPL FINL HLDGS INC | $2.7M | 0.46% | 7,500 | Common | SOLE |
| 90400P101 | UGP | ULTRAPAR PARTICIPACOES SA | $2.6M | 0.45% | 697,900 | Common | SOLE |
| 39813G109 | GDYN | GRID DYNAMICS HLDGS INC | $2.6M | 0.44% | 285,000 | Common | SOLE |
| 26142V105 | DKNG | DRAFTKINGS INC NEW | $2.4M | 0.41% | 70,000 | Common | SOLE |
| G9470A102 | VTEX | VTEX | $2.3M | 0.39% | 604,100 | Common | SOLE |
| 191241108 | KOF | COCA-COLA FEMSA SAB DE CV | $2.0M | 0.34% | 21,279 | Common | SOLE |
| 92189F676 | SMH | VANECK ETF TRUST | $2.0M | 0.34% | 1,000 | PUT | SOLE |
| G1151C101 | ACN | ACCENTURE PLC IRELAND | $2.0M | 0.34% | 7,400 | Common | SOLE |
| 46435G425 | ESGU | ISHARES TR | $1.9M | 0.33% | 13,051 | Common | SOLE |
| 458140100 | INTC | INTEL CORP | $1.7M | 0.30% | 47,332 | Common | SOLE |
| 81369Y886 | XLU | SELECT SECTOR SPDR TR | $1.7M | 0.29% | 39,716 | Common | SOLE |
| 11271J107 | BN | BROOKFIELD CORP | $1.7M | 0.29% | 36,412 | Common | SOLE |
| 46438F101 | IBIT | ISHARES BITCOIN TRUST ETF | $1.5M | 0.26% | 30,303 | Common | SOLE |
| 101137107 | BSX | BOSTON SCIENTIFIC CORP | $1.5M | 0.25% | 15,300 | Common | SOLE |
| 443201108 | HWM | HOWMET AEROSPACE INC | $1.5M | 0.25% | 7,106 | Common | SOLE |
| 29970N104 | EVEX | EVE HLDG INC | $1.4M | 0.24% | 346,500 | Common | SOLE |
| G38327105 | GPRK | GEOPARK LTD | $1.4M | 0.24% | 185,884 | Common | SOLE |
| 252131107 | DXCM | DEXCOM INC | $1.4M | 0.23% | 20,345 | Common | SOLE |
| 09290D101 | BLK | BLACKROCK INC | $1.3M | 0.21% | 1,170 | Common | SOLE |
| P31076105 | CPA | COPA HOLDINGS SA | $1.2M | 0.21% | 10,090 | Common | SOLE |
| 071734107 | BHC | BAUSCH HEALTH COS INC | $1.2M | 0.20% | 170,700 | Common | SOLE |
| 384802104 | GWW | WW GRAINGER INC | $1.0M | 0.18% | 1,039 | Common | SOLE |
| 78464A409 | SPYG | SPDR SERIES TRUST | $1.0M | 0.18% | 9,690 | Common | SOLE |
| 204448104 | BVN | COMPANIA DE MINAS BUENAVENTU | $999,097 | 0.17% | 35,900 | Common | SOLE |
| 833635105 | SQM | SOCIEDAD QUIMICA Y MINERA DE | $979,987 | 0.17% | 14,244 | Common | SOLE |
| 46090E103 | QQQ | INVESCO QQQ TR | $958,900 | 0.16% | 900 | PUT | SOLE |
| 78409V104 | SPGI | S&P GLOBAL INC | $956,862 | 0.16% | 1,831 | Common | SOLE |
| G2519Y108 | BAP | CREDICORP LTD | $918,400 | 0.16% | 3,200 | Common | SOLE |
| 464287184 | FXI | ISHARES TR | $894,301 | 0.15% | 23,356 | Common | SOLE |
| 595112103 | MU | MICRON TECHNOLOGY INC | $862,509 | 0.15% | 3,022 | Common | SOLE |
| 53656F417 | METV | LISTED FDS TR | $823,503 | 0.14% | 43,850 | Common | SOLE |
| 05965X109 | BSAC | BANCO SANTANDER CHILE NEW | $808,860 | 0.14% | 26,000 | Common | SOLE |
| 518613203 | LAUR | LAUREATE EDUCATION INC | $808,080 | 0.14% | 24,000 | Common | SOLE |
| 82846H405 | QXO | QXO INC | $771,600 | 0.13% | 40,000 | Common | SOLE |
| 151290889 | CX | CEMEX SAB DE CV | $755,111 | 0.13% | 65,719 | Common | SOLE |
| 43300A203 | HLT | HILTON WORLDWIDE HLDGS INC | $746,850 | 0.13% | 2,600 | Common | SOLE |
| 92840M102 | VST | VISTRA CORP | $734,858 | 0.13% | 4,555 | Common | SOLE |
| 375558103 | GILD | GILEAD SCIENCES INC | $725,516 | 0.12% | 5,911 | Common | SOLE |
| 464289842 | EPU | ISHARES TR | $723,500 | 0.12% | 10,000 | Common | SOLE |
| 78433H535 | NEHI | NEOS ETF TRUST | $714,394 | 0.12% | 14,535 | Common | SOLE |
| 87936R205 | VIV | TELEFONICA BRASIL SA | $706,856 | 0.12% | 59,600 | Common | SOLE |
| 097023105 | BA | BOEING CO | $649,840 | 0.11% | 2,993 | Common | SOLE |
| 060505104 | BAC | BANK AMERICA CORP | $634,810 | 0.11% | 11,542 | Common | SOLE |
| 464287648 | IWO | ISHARES TR | $597,569 | 0.10% | 1,850 | Common | SOLE |
| 20441B704 | ELPC | COMPANHIA PARANAENSE DE ENER | $588,032 | 0.10% | 61,833 | Common | SOLE |
| 78467X109 | DIA | SPDR DOW JONES INDL AVERAGE | $563,709 | 0.10% | 1,173 | Common | SOLE |
| 29273V100 | ET | ENERGY TRANSFER L P | $560,660 | 0.10% | 34,000 | Common | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $531,147 | 0.09% | 1,609 | Common | SOLE |
| 883556102 | TMO | THERMO FISHER SCIENTIFIC INC | $498,327 | 0.09% | 860 | Common | SOLE |
| 155038201 | CEPU | CENTRAL PUERTO S A | $475,615 | 0.08% | 27,178 | Common | SOLE |
| G01125106 | AFYA | AFYA LTD | $461,545 | 0.08% | 29,951 | Common | SOLE |
| 553368101 | MP | MP MATERIALS CORP | $454,680 | 0.08% | 9,000 | Common | SOLE |
| 37950E259 | ARGT | GLOBAL X FDS | $411,345 | 0.07% | 4,500 | Common | SOLE |
| 466313103 | JBL | JABIL INC | $397,895 | 0.07% | 1,745 | Common | SOLE |
| G98239109 | XP | XP INC | $391,390 | 0.07% | 23,909 | Common | SOLE |
| 09073M104 | TECH | BIO-TECHNE CORP | $386,676 | 0.07% | 6,575 | Common | SOLE |
| 37954Y830 | COPX | GLOBAL X FDS | $344,592 | 0.06% | 4,800 | Common | SOLE |
| 803054204 | SAP | SAP SE | $340,074 | 0.06% | 1,400 | Common | SOLE |
| G06973112 | AUGO | AURA MINERALS INC | $337,881 | 0.06% | 6,702 | Common | SOLE |
| G0896C103 | TBBB | BBB FOODS INC | $333,900 | 0.06% | 10,000 | Common | SOLE |
| 26922A420 | QTUM | ETF SER SOLUTIONS | $318,014 | 0.05% | 2,900 | Common | SOLE |
| 81141R100 | SE | SEA LTD | $312,291 | 0.05% | 2,448 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $302,772 | 0.05% | 444 | Common | SOLE |
| 71654V101 | PBR/A | PETROLEO BRASILEIRO SA PETRO | $302,600 | 0.05% | 26,850 | Common | SOLE |
| 00370M103 | ABVX | ABIVAX SA | $302,480 | 0.05% | 2,243 | Common | SOLE |
| 980745103 | WWD | WOODWARD INC | $302,320 | 0.05% | 1,000 | Common | SOLE |
| 80004C200 | SNDK | SANDISK CORP | $286,043 | 0.05% | 1,205 | Common | SOLE |
| 146869102 | CVNA | CARVANA CO | $274,735 | 0.05% | 651 | Common | SOLE |
| 92537N108 | VRT | VERTIV HOLDINGS CO | $270,557 | 0.05% | 1,670 | Common | SOLE |
| 278768106 | SATS | ECHOSTAR CORP | $268,163 | 0.05% | 2,467 | Common | SOLE |
| 058934100 | BBAR | BANCO BBVA ARGENTINA S A | $266,063 | 0.05% | 14,724 | Common | SOLE |
| 10554B104 | LND | BRASILAGRO COMPANHIA BRASILE | $265,174 | 0.05% | 74,071 | Common | SOLE |
| 87422Q109 | TLN | TALEN ENERGY CORP | $263,513 | 0.05% | 703 | Common | SOLE |
| 22266T109 | CPNG | COUPANG INC | $263,099 | 0.04% | 11,153 | Common | SOLE |
| 631103108 | NDAQ | NASDAQ INC | $262,251 | 0.04% | 2,700 | Common | SOLE |
| 893641100 | TDG | TRANSDIGM GROUP INC | $261,980 | 0.04% | 197 | Common | SOLE |
| 881624209 | TEVA | TEVA PHARMACEUTICAL INDS LTD | $260,416 | 0.04% | 8,344 | Common | SOLE |
| 336433107 | FSLR | FIRST SOLAR INC | $257,050 | 0.04% | 984 | Common | SOLE |
| L8681T102 | SPOT | SPOTIFY TECHNOLOGY S A | $256,674 | 0.04% | 442 | Common | SOLE |
| 247361702 | DAL | DELTA AIR LINES INC DEL | $256,502 | 0.04% | 3,696 | Common | SOLE |
| 632307104 | NTRA | NATERA INC | $256,352 | 0.04% | 1,119 | Common | SOLE |
| 958102105 | WDC | WESTERN DIGITAL CORP | $256,338 | 0.04% | 1,488 | Common | SOLE |
| 14040H105 | COF | CAPITAL ONE FINL CORP | $253,024 | 0.04% | 1,044 | Common | SOLE |
| 03831W108 | APP | APPLOVIN CORP | $252,009 | 0.04% | 374 | Common | SOLE |
| G25508105 | CRH | CRH PLC | $251,472 | 0.04% | 2,015 | Common | SOLE |
| 171757206 | CDTX | CIDARA THERAPEUTICS INC | $250,931 | 0.04% | 1,136 | Common | SOLE |
| 16115Q308 | GTLS | CHART INDS INC | $250,776 | 0.04% | 1,216 | Common | SOLE |
| M2682V108 | CYBR | CYBERARK SOFTWARE LTD | $248,901 | 0.04% | 558 | Common | SOLE |
| 88023U101 | SGI | SOMNIGROUP INTERNATIONAL INC | $248,823 | 0.04% | 2,787 | Common | SOLE |
| 26884L109 | EQT | EQT CORP | $248,758 | 0.04% | 4,641 | Common | SOLE |
| 69331C108 | PCG | PG&E CORP | $247,108 | 0.04% | 15,377 | Common | SOLE |
| 655844108 | NSC | NORFOLK SOUTHN CORP | $245,123 | 0.04% | 849 | Common | SOLE |
| 907818108 | UNP | UNION PAC CORP | $244,505 | 0.04% | 1,057 | Common | SOLE |
| 046353108 | AZNN | ASTRAZENECA PLC | $239,753 | 0.04% | 2,608 | Common | SOLE |
| 22788C105 | CRWD | CROWDSTRIKE HLDGS INC | $238,599 | 0.04% | 509 | Common | SOLE |
| 464286400 | EWZ | ISHARES INC | $228,000 | 0.04% | 3,000 | PUT | SOLE |
| 46266C105 | IQV | IQVIA HLDGS INC | $225,410 | 0.04% | 1,000 | Common | SOLE |
| 025537101 | AEP | AMERICAN ELEC PWR CO INC | $221,741 | 0.04% | 1,923 | Common | SOLE |
| 92189F106 | GDX | VANECK ETF TRUST | $216,655 | 0.04% | 2,526 | Common | SOLE |
| 457669307 | INSM | INSMED INC | $215,810 | 0.04% | 1,240 | Common | SOLE |
| 58155Q103 | MCK | MCKESSON CORP | $213,275 | 0.04% | 260 | Common | SOLE |
| 40054A108 | SUPV | GRUPO SUPERVIELLE S.A. | $210,762 | 0.04% | 17,831 | Common | SOLE |
| 778296103 | ROST | ROSS STORES INC | $203,918 | 0.03% | 1,132 | Common | SOLE |
| G21307106 | CINT | CI&T INC | $190,114 | 0.03% | 46,711 | Common | SOLE |
| 86959K105 | SUZ | SUZANO S A | $141,884 | 0.02% | 15,191 | Common | SOLE |
| 022307102 | ALMS | ALUMIS INC | $139,588 | 0.02% | 14,302 | Common | SOLE |
| 745848101 | LUNG | PULMONX CORP | $102,358 | 0.02% | 46,316 | Common | SOLE |
| 50101L106 | DNUT | KRISPY KREME INC | $97,815 | 0.02% | 24,332 | Common | SOLE |
| 31447E105 | FEMY | FEMASYS INC | $87,672 | 0.01% | 152,155 | Common | SOLE |
| 041242108 | ARKO | ARKO CORP | $57,109 | 0.01% | 12,579 | Common | SOLE |
| 02319V103 | ABEV | AMBEV SA | $50,388 | 0.01% | 20,400 | Common | SOLE |
| 588056101 | MERC | MERCER INTL INC | $48,708 | 0.01% | 24,600 | Common | SOLE |
| 47580P103 | JELD | JELD-WEN HLDG INC | $37,638 | 0.01% | 15,300 | Common | SOLE |
| 517097101 | LGO | LARGO INC | $13,543 | 0.00% | 14,450 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.