# INCA Investments LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1513137. Source: https://holderbook.com/funds/1513137-inca-investments-llc/

- Reported value: $353.4M
- Positions: 10
- Weight of the ten largest: 100.0%
- Filed: 2026-07-28

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| BANCO SANTANDER CHILE NEW | [BSAC](https://holderbook.com/stocks/BSAC/) | $64.0M | 1,942,969 | 18.1% | 31 |
| CREDICORP LTD | [BAP](https://holderbook.com/stocks/BAP/) | $61.2M | 156,964 | 17.3% | 31 |
| GRUPO FINANCIERO GALICIA S.A | [GGAL](https://holderbook.com/stocks/GGAL/) | $53.3M | 1,065,491 | 15.1% | 20 |
| LATAM AIRLINES GROUP SA | [LTM](https://holderbook.com/stocks/LTM/) | $47.0M | 807,079 | 13.3% | 3 |
| COPA HOLDINGS SA | [CPA](https://holderbook.com/stocks/CPA/) | $36.9M | 237,214 | 10.4% | 2 |
| NU HLDGS LTD | [NU](https://holderbook.com/stocks/NU/) | $32.3M | 2,418,354 | 9.1% | 10 |
| AMERICA MOVIL SAB DE CV | [AMX](https://holderbook.com/stocks/AMX/) | $32.0M | 1,232,789 | 9.1% | 1 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $15.0M | 8,819 | 4.2% | 18 |
| ITAU UNIBANCO HLDG S A | [ITUB](https://holderbook.com/stocks/ITUB/) | $6.4M | 783,087 | 1.8% | 31 |
| ARCOS DORADOS HLDGS INC | [ARCO](https://holderbook.com/stocks/ARCO/) | $5.3M | 654,392 | 1.5% | 31 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +10.6% | +14.8% | -4.3% | 100% |
| Q1 2026 | +1.4% | -4.6% | +6.0% | 100% |
| Q4 2025 | +15.7% | +2.4% | +13.3% | 100% |
| Q3 2025 | -9.7% | +7.8% | -17.5% | 100% |
| Q2 2025 | +12.9% | +10.5% | +2.5% | 100% |
| Q1 2025 | +2.2% | -4.6% | +6.7% | 100% |
| Q4 2024 | +1.9% | +2.1% | -0.2% | 100% |
| Q3 2024 | +12.0% | +5.4% | +6.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $353.4M | 10 |
| Q1 2026 | $281.8M | 10 |
| Q4 2025 | $285.9M | 9 |
| Q3 2025 | $217.3M | 9 |
| Q2 2025 | $257.5M | 10 |
| Q1 2025 | $218.5M | 10 |
| Q4 2024 | $242.6M | 10 |
| Q3 2024 | $234.3M | 10 |
| Q2 2024 | $236.4M | 10 |
| Q1 2024 | $232.4M | 11 |
| Q4 2023 | $225.8M | 11 |
| Q3 2023 | $248.7M | 11 |