# Banco BTG Pactual S.A.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1536080. Source: https://holderbook.com/funds/1536080-banco-btg-pactual-s-a/

- Reported value: $1.2B
- Positions: 152
- Weight of the ten largest: 53.1%
- Filed: 2026-08-07

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 |
|---|---|---|---|---|---|
| ISHARES INC | [EWZ](https://holderbook.com/stocks/EWZ/) | $176.2M | 1,115,073 | 14.9% | 4 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $89.6M | 93,600 | 7.6% | 9 |
| ISHARES TR | [HYG](https://holderbook.com/stocks/HYG/) | $60.1M | 751,373 | 5.1% | 2 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $48.7M | 70,918 | 4.1% | 2 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $48.1M | 160,000 | 4.1% | 2 |
| ISHARES INC | [EWW](https://holderbook.com/stocks/EWW/) | $46.0M | 611,127 | 3.9% | 2 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $42.5M | 77,042 | 3.6% | 2 |
| ECOPETROL S A | [EC](https://holderbook.com/stocks/EC/) | $41.8M | 402,757 | 3.5% | 2 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $40.1M | 15,000 | 3.4% | 1 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $36.5M | 381 | 3.1% | 1 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $30.0M | 14,867 | 2.5% | 12 |
| SPACE EXPLORATION TECHN CORP | [SPCX](https://holderbook.com/stocks/SPCX/) | $27.6M | 51,707 | 2.3% | 1 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $27.2M | 50,000 | 2.3% | 1 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $26.6M | 70,366 | 2.2% | 9 |
| GRUPO CIBEST SA | [CIB](https://holderbook.com/stocks/CIB/) | $25.9M | 323,276 | 2.2% | 2 |
| SELECT SECTOR SPDR TR | [XLP](https://holderbook.com/stocks/XLP/) | $23.7M | 285,500 | 2.0% | 2 |
| SELECT SECTOR SPDR TR | [XLE](https://holderbook.com/stocks/XLE/) | $22.9M | 431,202 | 1.9% | 2 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $19.0M | 3,022 | 1.6% | 13 |
| YPF SOCIEDAD ANONIMA | [YPF](https://holderbook.com/stocks/YPF/) | $18.5M | 7,433 | 1.6% | 1 |
| JANUS DETROIT STR TR | [JAAA](https://holderbook.com/stocks/JAAA/) | $17.3M | 342,802 | 1.5% | 2 |
| RIO TINTO PLC | [RIO](https://holderbook.com/stocks/RIO/) | $16.2M | 170,511 | 1.4% | 2 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $14.6M | 128,500 | 1.2% | 2 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $13.6M | 37,004 | 1.1% | 2 |
| COPA HOLDINGS SA | [CPA](https://holderbook.com/stocks/CPA/) | $13.2M | 85,000 | 1.1% | 4 |
| VANECK ETF TRUST | [SMH](https://holderbook.com/stocks/SMH/) | $12.9M | 19,609 | 1.1% | 3 |
| NU HLDGS LTD | [NU](https://holderbook.com/stocks/NU/) | $12.6M | 939,839 | 1.1% | 6 |
| JANUS DETROIT STR TR | [JBBB](https://holderbook.com/stocks/JBBB/) | $12.5M | 264,830 | 1.1% | 2 |
| SPDR SERIES TRUST | [KRE](https://holderbook.com/stocks/KRE/) | $11.2M | 150,000 | 0.9% | 2 |
| SPDR SERIES TRUST | [XRT](https://holderbook.com/stocks/XRT/) | $10.7M | 122,000 | 0.9% | 2 |
| ISHARES TR | [IGV](https://holderbook.com/stocks/IGV/) | $10.2M | 50,000 | 0.9% | 1 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $8.4M | 7,160 | 0.7% | 7 |
| CADENCE DESIGN SYSTEM INC | [CDNS](https://holderbook.com/stocks/CDNS/) | $7.5M | 0 | 0.6% | 1 |
| BROOKFIELD CORP | [BN](https://holderbook.com/stocks/BN/) | $6.7M | 157,392 | 0.6% | 9 |
| ALIBABA GROUP HLDG LTD | [BABA](https://holderbook.com/stocks/BABA/) | $5.8M | 518 | 0.5% | 1 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $5.5M | 30,015 | 0.5% | 1 |
| FREEPORT-MCMORAN INC | [FCX](https://holderbook.com/stocks/FCX/) | $5.3M | 85,000 | 0.5% | 1 |
| ENEL CHILE S.A. | [ENIC](https://holderbook.com/stocks/ENIC/) | $5.1M | 1,138,705 | 0.4% | 3 |
| AURA MINERALS INC | [AUGO](https://holderbook.com/stocks/AUGO/) | $4.8M | 76,777 | 0.4% | 4 |
| ISHARES INC | [ECH](https://holderbook.com/stocks/ECH/) | $4.7M | 118,993 | 0.4% | 2 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $4.3M | 18,233 | 0.4% | 12 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $4.3M | 7,346 | 0.4% | 2 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $4.0M | 56,103 | 0.3% | 7 |
| ISHARES INC | [EWY](https://holderbook.com/stocks/EWY/) | $4.0M | 0 | 0.3% | 2 |
| SEAGATE TECHNOLOGY HLDNGS PL | [STX](https://holderbook.com/stocks/STX/) | $3.9M | 0 | 0.3% | 2 |
| PERSHING SQUARE USA LTD | [PSUS](https://holderbook.com/stocks/PSUS/) | $3.5M | 92,625 | 0.3% | 1 |
| ISHARES BITCOIN TRUST ETF | [IBIT](https://holderbook.com/stocks/IBIT/) | $3.4M | 81,705 | 0.3% | 6 |
| KKR & CO INC | [KKR](https://holderbook.com/stocks/KKR/) | $3.4M | 9,923 | 0.3% | 2 |
| T-MOBILE US INC | [TMUS](https://holderbook.com/stocks/TMUS/) | $3.3M | 0 | 0.3% | 1 |
| LISTED FDS TR | [MAGS](https://holderbook.com/stocks/MAGS/) | $3.2M | 0 | 0.3% | 1 |
| VANGUARD STAR FDS | [VXUS](https://holderbook.com/stocks/VXUS/) | $3.1M | 36,552 | 0.3% | 2 |
| CBRE GROUP INC | [CBRE](https://holderbook.com/stocks/CBRE/) | $3.0M | 0 | 0.3% | 1 |
| VANECK ETF TRUST | [GDX](https://holderbook.com/stocks/GDX/) | $3.0M | 40,000 | 0.3% | 1 |
| VANECK MERK GOLD ETF | [OUNZ](https://holderbook.com/stocks/OUNZ/) | $2.5M | 65,795 | 0.2% | 2 |
| EXPAND ENERGY CORPORATION | [EXE](https://holderbook.com/stocks/EXE/) | $2.5M | 7,400 | 0.2% | 2 |
| NEOS ETF TRUST | [QQQI](https://holderbook.com/stocks/QQQI/) | $2.5M | 43,865 | 0.2% | 2 |
| INTER & CO INC | [INTR](https://holderbook.com/stocks/INTR/) | $2.4M | 439,845 | 0.2% | 1 |
| ISHARES GOLD TR | [IAU](https://holderbook.com/stocks/IAU/) | $2.4M | 31,440 | 0.2% | 2 |
| JBS N.V. | [JBS](https://holderbook.com/stocks/JBS/) | $2.3M | 191,081 | 0.2% | 2 |
| VANGUARD BD INDEX FDS | [BND](https://holderbook.com/stocks/BND/) | $2.1M | 29,112 | 0.2% | 2 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $2.1M | 15,428 | 0.2% | 2 |
| LABCORP HOLDINGS INC | [LH](https://holderbook.com/stocks/LH/) | $2.1M | 0 | 0.2% | 1 |
| GRUPO FINANCIERO GALICIA S.A | [GGAL](https://holderbook.com/stocks/GGAL/) | $2.0M | 40,294 | 0.2% | 3 |
| TARGA RES CORP | [TRGP](https://holderbook.com/stocks/TRGP/) | $2.0M | 0 | 0.2% | 2 |
| CENTRAL PUERTO S A | [CEPU](https://holderbook.com/stocks/CEPU/) | $2.0M | 135,312 | 0.2% | 1 |
| GLOBAL X FDS | [COLO](https://holderbook.com/stocks/COLO/) | $1.9M | 2,700 | 0.2% | 1 |
| CROWDSTRIKE HLDGS INC | [CRWD](https://holderbook.com/stocks/CRWD/) | $1.7M | 2,201 | 0.1% | 3 |
| THE CIGNA GROUP | [CI](https://holderbook.com/stocks/CI/) | $1.7M | 0 | 0.1% | 2 |
| ISHARES TR | [LQD](https://holderbook.com/stocks/LQD/) | $1.7M | 15,144 | 0.1% | 2 |
| ANHEUSER BUSCH INBEV SA/NV | [BUD](https://holderbook.com/stocks/BUD/) | $1.6M | 20,000 | 0.1% | 2 |
| XP INC | [XP](https://holderbook.com/stocks/XP/) | $1.6M | 100,180 | 0.1% | 1 |
| VALE S A | [VALE](https://holderbook.com/stocks/VALE/) | $1.6M | 103,124 | 0.1% | 2 |
| EQUINIX INC | [EQIX](https://holderbook.com/stocks/EQIX/) | $1.5M | 556 | 0.1% | 2 |
| COMFORT SYS USA INC | [FIX](https://holderbook.com/stocks/FIX/) | $1.5M | 251 | 0.1% | 1 |
| BHP BILLITON LIMITED | [BHP](https://holderbook.com/stocks/BHP/) | $1.5M | 17,856 | 0.1% | 2 |
| VANECK ETF TRUST | [REMX](https://holderbook.com/stocks/REMX/) | $1.4M | 16,236 | 0.1% | 1 |
| SEMPRA | [SRE](https://holderbook.com/stocks/SRE/) | $1.4M | 0 | 0.1% | 1 |
| VANECK ETF TRUST | [NLR](https://holderbook.com/stocks/NLR/) | $1.4M | 11,921 | 0.1% | 2 |
| WYNN RESORTS LTD | [WYNN](https://holderbook.com/stocks/WYNN/) | $1.4M | 6,028 | 0.1% | 2 |
| ISHARES SILVER TR | [SLV](https://holderbook.com/stocks/SLV/) | $1.4M | 0 | 0.1% | 2 |
| NEOS ETF TRUST | [SPYI](https://holderbook.com/stocks/SPYI/) | $1.4M | 25,519 | 0.1% | 2 |
| OREILLY AUTOMOTIVE INC | [ORLY](https://holderbook.com/stocks/ORLY/) | $1.2M | 3,281 | 0.1% | 1 |
| VANGUARD ADMIRAL FDS INC | [VIOV](https://holderbook.com/stocks/VIOV/) | $1.2M | 10,159 | 0.1% | 2 |
| VANGUARD INTL EQUITY INDEX F | [VT](https://holderbook.com/stocks/VT/) | $1.2M | 7,405 | 0.1% | 2 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $1.1M | 510 | 0.1% | 1 |
| GRUPO AVAL ACCIONES Y VALORE | [AVAL](https://holderbook.com/stocks/AVAL/) | $1.1M | 226,559 | 0.1% | 2 |
| VANECK ETF TRUST | [ESPO](https://holderbook.com/stocks/ESPO/) | $1.0M | 11,392 | 0.1% | 2 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $1.0M | 8,675 | 0.1% | 1 |
| DRAFTKINGS INC NEW | [DKNG](https://holderbook.com/stocks/DKNG/) | $1.0M | 40,000 | 0.1% | 3 |
| BBB FOODS INC | [TBBB](https://holderbook.com/stocks/TBBB/) | $1.0M | 24,000 | 0.1% | 1 |
| NEOS ETF TRUST | [BTCI](https://holderbook.com/stocks/BTCI/) | $950.1K | 35,373 | 0.1% | 2 |
| ETFS GOLD TR | [SGOL](https://holderbook.com/stocks/SGOL/) | $908.3K | 23,760 | 0.1% | 1 |
| ABRDN SILVER ETF TRUST | [SIVR](https://holderbook.com/stocks/SIVR/) | $873.8K | 15,543 | 0.1% | 1 |
| INTERACTIVE BROKERS GROUP IN | [IBKR](https://holderbook.com/stocks/IBKR/) | $870.4K | 0 | 0.1% | 1 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $839.8K | 0 | 0.1% | 1 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $832.4K | 13,946 | 0.1% | 1 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $816.6K | 1,590 | 0.1% | 5 |
| NEBIUS GROUP N.V. | [NBIS](https://holderbook.com/stocks/NBIS/) | $778.8K | 2,820 | 0.1% | 1 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $766.1K | 1,528 | 0.1% | 4 |
| VANGUARD CHARLOTTE FDS | [BNDX](https://holderbook.com/stocks/BNDX/) | $695.5K | 14,360 | 0.1% | 2 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $683.8K | 1,993 | 0.1% | 4 |

## 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 |
|---|---|---|---|---|
| Q1 2026 | -7.8% | -4.6% | -3.2% | 98% |
| Q4 2025 | +1.5% | +2.4% | -0.8% | 101% |
| Q3 2025 | +6.7% | +7.8% | -1.2% | 100% |
| Q2 2025 | +20.3% | +10.5% | +9.9% | 99% |
| Q1 2025 | -4.8% | -4.6% | -0.2% | 98% |
| Q4 2024 | +4.2% | +2.1% | +2.1% | 99% |
| Q3 2024 | +5.9% | +5.4% | +0.5% | 69% |
| Q2 2024 | +0.5% | +4.0% | -3.5% | 68% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.2B | 152 |
| Q1 2026 | $1.1B | 127 |
| Q4 2025 | $585.1M | 161 |
| Q3 2025 | $684.9M | 155 |
| Q2 2025 | $491.5M | 153 |
| Q1 2025 | $404.9M | 165 |
| Q4 2024 | $429.6M | 154 |
| Q3 2024 | $388.6M | 138 |
| Q2 2024 | $640.8M | 139 |
| Q1 2024 | $592.3M | 155 |
| Q4 2023 | $801.1M | 119 |
| Q3 2023 | $415.9M | 110 |