ARGA Investment Management, LP

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 30, 2026), ARGA Investment Management, LP reported 110 stock positions worth $3.7 billion. Its top holding was Banco Bradesco-ADR (BBD) at 10.2% of the portfolio, followed by Nutrien (NTR, 8.9%) and XP Class A (XP, 8.9%). Compared with Q3 2025, it opened 11 new positions, sold out of 11, added to 19 and reduced 40. The biggest buy was XP Class A (XP, shares +119%) and the biggest sale UBS Group AG-Reg (UBS, shares −94%).

Most Recent 13F
Q2 2026
Location
STAMFORD, CT
CIK
0001556915
Portfolio Value
$3.7B (Q4 2025)
SEC Filing
0001104659-26-008316 ↗ filed Jan 30, 2026

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $3.0B Q1 2024 Q2 2024: $2.8B Q2 2024 Q3 2024: $3.0B Q3 2024 Q4 2024: $3.1B Q4 2024 Q1 2025: $3.0B Q1 2025 Q2 2025: $3.7B Q2 2025 Q3 2025: $3.8B Q3 2025 Q4 2025: $3.7B $3.7B Q4 2025 Q1 2026: $3.0B Q1 2026 Q2 2026: $3.9B Q2 2026

Holdings 110 stocks · $3.7B
BBD Banco Bradesco-ADR 10.23% 112,650,293 $375.1M Reduce -1.6%
NTR Nutrien Ltd. 8.93% 5,308,601 $327.6M Reduce -10.8%
XP XP Inc. Class A 8.88% 19,900,087 $325.8M Add +119.2%
TCOM Trip.com Group Ltd.-ADR 7.73% 3,944,185 $283.6M Reduce -14.8%
PBR Petroleo Brasileiro-Spon ADR 6.13% 18,975,177 $224.9M Add +0.9%
MGA Magna International Inc. 6.09% 4,193,129 $223.5M Add +1.1%
LVS Las Vegas Sands Corp. 6.04% 3,405,478 $221.7M Reduce -22.8%
TSM Taiwan Semiconductor-SP ADR 5.54% 668,021 $203.0M Reduce 0.0%
BAP Credicorp Ltd. 5.46% 698,243 $200.4M Reduce 0.0%
MLCO Melco Resorts & Entert-ADR 4.72% 22,852,595 $173.0M Reduce -9.3%
GLOB Globant SA 3.62% 2,028,759 $132.6M Reduce -1.4%
ELV Elevance Health Inc. 2.65% 277,755 $97.4M Add +4.6%
HUM Humana Inc. 1.56% 223,064 $57.1M Add +0.5%
NXPI NXP Semiconductors NV 1.55% 261,182 $56.7M Add +32.8%
NOK Nokia Corp.-Spon ADR 1.35% 7,654,181 $49.5M New
LEA Lear Corp. 1.23% 395,146 $45.3M Reduce -20.8%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 1.14% 406,648 $41.6M Reduce -28.5%
EPAM Epam Systems Inc. 1.08% 193,598 $39.7M Reduce -1.6%
BIDU Baidu Inc. - Spon ADR 1.08% 302,873 $39.6M Reduce -0.3%
HDB HDFC Bank Ltd.-ADR 1.05% 1,053,708 $38.5M No change
ALK Alaska Air Group Inc. 1.03% 754,321 $37.9M Add +200.3%
ARW Arrow Electronics Inc. 1.03% 343,667 $37.9M Reduce -0.4%
AA Alcoa Corp. 1.00% 689,217 $36.6M Reduce -56.0%
TTE Totalenergies SE 0.88% 495,465 $32.4M New
LCII Lci Industries 0.86% 260,001 $31.5M Add +0.8%
MRK Merck & Co. Inc. 0.85% 297,409 $31.3M Reduce -0.3%
MHK Mohawk Industries Inc. 0.77% 259,764 $28.4M Reduce -46.9%
BABA Alibaba Group Holding-SP ADR 0.71% 177,174 $26.0M Reduce -60.9%
CNC Centene Corp. 0.68% 601,679 $24.8M Reduce -0.1%
PTEN Patterson-Uti Energy Inc. 0.67% 4,012,091 $24.5M Reduce -33.2%
HAL Halliburton Co. 0.62% 804,096 $22.7M Reduce -46.6%
MAN Manpowergroup Inc. 0.50% 612,203 $18.2M Reduce -0.4%
BAX Baxter International Inc. 0.43% 819,011 $15.7M Add +0.0%
DOW Dow Inc. 0.42% 655,050 $15.3M Add +180.2%
BBWI Bath & Body Works Inc. 0.34% 619,722 $12.4M Reduce -0.2%
CTSH Cognizant Tech Solutions-A 0.32% 140,966 $11.7M Add +0.1%
ACN Accenture PLC Class A 0.19% 25,838 $6.9M New
RY Royal Bank of Canada 0.15% 31,843 $5.4M Add +0.5%
CNQ Canadian Natural Resources 0.13% 145,811 $4.9M Add +20.9%
UBS UBS Group AG-Reg 0.12% 93,216 $4.3M Reduce -94.5%
CPRI Capri Holdings Ltd. 0.10% 153,471 $3.7M Reduce -3.8%
LYB Lyondellbasell Indu Class A 0.09% 76,414 $3.3M Add +107.5%
WCC Wesco International Inc. 0.09% 12,768 $3.1M Reduce -1.9%
VSXY Victoria's Secret & Co. 0.08% 50,830 $2.8M Reduce -27.6%
COLB Columbia Banking System Inc. 0.07% 90,047 $2.5M No change
VALE Vale SA-SP ADR 0.06% 182,364 $2.4M No change
AER Aercap Holdings NV 0.06% 15,889 $2.3M Reduce -49.0%
SON Sonoco Products Co. 0.06% 49,097 $2.1M No change
AVT Avnet Inc. 0.06% 44,407 $2.1M No change
INMD Inmode Ltd. 0.06% 143,658 $2.1M No change
FAF First American Financial 0.06% 34,171 $2.1M No change
CNI Canadian Natl Railway Co. 0.05% 20,243 $2.0M New
ASO Academy Sports & Outdoors Inc. 0.05% 39,312 $2.0M Add +0.4%
WYNN WYNN Resorts Ltd. 0.05% 16,225 $2.0M No change
ONTO Onto Innovation Inc. 0.05% 12,291 $1.9M No change
GSL Global Ship Lease Inc. Class A 0.05% 53,602 $1.9M No change
SLM SLM Corp. 0.05% 67,479 $1.8M Add +15.8%
BCC Boise Cascade Co. 0.05% 23,739 $1.7M Add +22.4%
CZR Caesars Entertainment Inc. 0.05% 73,499 $1.7M Add +29.9%
BANC Banc of California Inc. 0.05% 88,333 $1.7M Reduce -15.5%
IVZ Invesco Ltd. 0.05% 64,792 $1.7M Reduce -2.5%
KFY Korn Ferry 0.05% 25,732 $1.7M Reduce -6.2%
CRC California Resources Corp. 0.05% 37,541 $1.7M No change
NSP Insperity Inc. 0.04% 40,270 $1.6M New
ACLS Axcelis Technologies Inc. 0.04% 18,534 $1.5M No change
ABEV Ambev SA-ADR 0.04% 597,022 $1.5M Reduce -46.2%
BZ Kanzhun Ltd. - ADR 0.04% 67,813 $1.4M New
PII Polaris Inc. 0.04% 21,581 $1.4M Reduce -18.1%
JXN Jackson Financial Inc. Class A 0.03% 11,788 $1.3M No change
THO Thor Industries Inc. 0.03% 12,155 $1.2M Reduce -15.7%
OLN Olin Corp. 0.03% 59,813 $1.2M Reduce -0.9%
CHRD Chord Energy Corp. 0.03% 11,900 $1.1M No change
WD Walker & Dunlop Inc. 0.03% 18,113 $1.1M No change
UGI Ugi Corp. 0.03% 28,892 $1.1M Reduce -28.0%
ICHR Ichor Holdings Ltd. 0.03% 58,390 $1.1M No change
NVST Envista Holdings Corp. 0.03% 46,644 $1.0M No change
GGB Gerdau SA -Spon ADR 0.02% 241,625 $892K Reduce -4.3%
JAZZ Jazz Pharmaceuticals PLC 0.02% 5,172 $879K No change
VET Vermilion Energy Inc. 0.02% 105,369 $877K No change
FMC FMC Corp. 0.02% 55,448 $769K New
AMN Amn Healthcare Services Inc. 0.02% 45,782 $722K No change
ATKR Atkore Inc. 0.02% 11,401 $721K No change
AGO Assured Guaranty Ltd. 0.02% 7,938 $713K No change
MOH Molina Healthcare Inc. 0.02% 4,107 $713K New
NAVI Navient Corp. 0.02% 48,972 $637K No change
ACHC Acadia Healthcare Co. Inc. 0.02% 44,031 $625K No change
PLOW Douglas Dynamics Inc. 0.01% 16,386 $535K No change
WB Weibo Corp.-Spon ADR 0.01% 52,156 $533K No change
CRI Carter's Inc. 0.01% 15,530 $504K No change
INDV Indivior Ltd. 0.01% 13,169 $473K No change
AMWD American Woodmark Corp. 0.01% 7,352 $396K No change
HOS Hornbeck Offshore Services I filed as HELIX ENERGY SOLUTIONS GRP I 0.01% 59,441 $373K No change
VSH Vishay Intertechnology Inc. 0.01% 25,563 $370K No change
APAM Artisan Partners Asset Ma -A 0.01% 8,885 $362K No change
LEG Leggett & Platt Inc. 0.01% 32,420 $357K No change
KELYA Kelly Services Inc. Class A 0.01% 34,037 $300K No change
HCC Warrior Met Coal Inc. 0.01% 3,361 $296K Reduce -33.3%
TNET Trinet Group Inc. 0.01% 4,978 $294K New
SKM SK Telecom Co. Ltd.-Spon ADR 0.01% 13,940 $286K No change
CNXC Concentrix Corp. 0.01% 6,798 $283K No change

Show all 110 holdings

Portfolio Sells Q3 2025 → Q4 2025
UBS UBS Group AG-Reg Reduce -94.5% 0.12% −1.71
TCOM Trip.com Group Ltd.-ADR Reduce -14.8% 7.73% −1.50
BABA Alibaba Group Holding-SP ADR Reduce -60.9% 0.71% −1.44
MLCO Melco Resorts & Entert-ADR Reduce -9.3% 4.72% −1.41
BAC Bank of America Corp. Sold out 0.00% −1.02
MHK Mohawk Industries Inc. Reduce -46.9% 0.77% −0.90
QCOM Qualcomm Inc. Sold out 0.00% −0.49
LBTYA Liberty Global Ltd. Class A Sold out 0.00% −0.44
TROW T Rowe Price Group Inc. Reduce -28.5% 1.14% −0.41
ZBH Zimmer Biomet Holdings Inc. Sold out 0.00% −0.40
AA Alcoa Corp. Reduce -56.0% 1.00% −0.37
HAL Halliburton Co. Reduce -46.6% 0.62% −0.36
NTR Nutrien Ltd. Reduce -10.8% 8.93% −0.34
LVS Las Vegas Sands Corp. Reduce -22.8% 6.04% −0.25
C Citigroup Inc. Reduce -97.3% 0.01% −0.18
PTEN Patterson-Uti Energy Inc. Reduce -33.2% 0.67% −0.16
MAN Manpowergroup Inc. Reduce -0.4% 0.50% −0.12
TGT Target Corp. Sold out 0.00% −0.10
LEA Lear Corp. Reduce -20.8% 1.23% −0.10
BBWI Bath & Body Works Inc. Reduce -0.2% 0.34% −0.08
ARW Arrow Electronics Inc. Reduce -0.4% 1.03% −0.07
RNR Renaissancere Holdings Ltd. Sold out 0.00% −0.07
JHG Janus Henderson Group PLC Sold out 0.00% −0.07
AER Aercap Holdings NV Reduce -49.0% 0.06% −0.04
BBD Banco Bradesco-ADR Reduce -1.6% 10.23% −0.03
ABEV Ambev SA-ADR Reduce -46.2% 0.04% −0.03
SHG Shinhan Financial Group-ADR Reduce -62.8% 0.01% −0.01
NWL Newell Brands Inc. Reduce -66.2% 0.00% −0.01
SIG Signet Jewelers Ltd. Sold out 0.00% −0.01
IPGP Ipg Photonics Corp. Sold out 0.00% −0.01
STC Stewart Information Services Sold out 0.00% −0.01
KMT Kennametal Inc. Sold out 0.00% −0.01
OLN Olin Corp. Reduce -0.9% 0.03% −0.01
UGI Ugi Corp. Reduce -28.0% 0.03% −0.01
THO Thor Industries Inc. Reduce -15.7% 0.03% −0.01
KFY Korn Ferry Reduce -6.2% 0.05% −0.00
PII Polaris Inc. Reduce -18.1% 0.04% −0.00
HCC Warrior Met Coal Inc. Reduce -33.3% 0.01% −0.00
BANC Banc of California Inc. Reduce -15.5% 0.05% +0.00
GGB Gerdau SA -Spon ADR Reduce -4.3% 0.02% +0.00
IVZ Invesco Ltd. Reduce -2.5% 0.05% +0.01
WCC Wesco International Inc. Reduce -1.9% 0.09% +0.01
CPRI Capri Holdings Ltd. Reduce -3.8% 0.10% +0.02
BIDU Baidu Inc. - Spon ADR Reduce -0.3% 1.08% +0.02
VSXY Victoria's Secret & Co. Reduce -27.6% 0.08% +0.02
CNC Centene Corp. Reduce -0.1% 0.68% +0.11
MRK Merck & Co. Inc. Reduce -0.3% 0.85% +0.19
EPAM Epam Systems Inc. Reduce -1.6% 1.08% +0.30
GLOB Globant SA Reduce -1.4% 3.62% +0.49
BAP Credicorp Ltd. Reduce 0.0% 5.46% +0.53

Portfolio Buys Q3 2025 → Q4 2025
XP XP Inc. Class A Add +119.2% 8.88% +4.36
NOK Nokia Corp.-Spon ADR New 1.35% +1.35
MGA Magna International Inc. Add +1.1% 6.09% +0.88
TTE Totalenergies SE New 0.88% +0.88
ALK Alaska Air Group Inc. Add +200.3% 1.03% +0.70
ELV Elevance Health Inc. Add +4.6% 2.65% +0.38
NXPI NXP Semiconductors NV Add +32.8% 1.55% +0.36
DOW Dow Inc. Add +180.2% 0.42% +0.28
LCII Lci Industries Add +0.8% 0.86% +0.22
ACN Accenture PLC Class A New 0.19% +0.19
CTSH Cognizant Tech Solutions-A Add +0.1% 0.32% +0.07
CNI Canadian Natl Railway Co. New 0.05% +0.05
NSP Insperity Inc. New 0.04% +0.04
LYB Lyondellbasell Indu Class A Add +107.5% 0.09% +0.04
BZ Kanzhun Ltd. - ADR New 0.04% +0.04
CNQ Canadian Natural Resources Add +20.9% 0.13% +0.03
HUM Humana Inc. Add +0.5% 1.56% +0.03
RY Royal Bank of Canada Add +0.5% 0.15% +0.02
FMC FMC Corp. New 0.02% +0.02
MOH Molina Healthcare Inc. New 0.02% +0.02
TNET Trinet Group Inc. New 0.01% +0.01
BCC Boise Cascade Co. Add +22.4% 0.05% +0.01
SLM SLM Corp. Add +15.8% 0.05% +0.01
CZR Caesars Entertainment Inc. Add +29.9% 0.05% +0.01
CMCSA Comcast Corp. Class A New 0.01% +0.01
MU Micron Technology Inc. New 0.01% +0.01
ASO Academy Sports & Outdoors Inc. Add +0.4% 0.05% +0.00
PVH PVH Corp. Add +11.3% 0.01% −0.00
BAX Baxter International Inc. Add +0.0% 0.43% −0.07
PBR Petroleo Brasileiro-Spon ADR Add +0.9% 6.13% −0.18

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 121$3.9BXP, AER, TSM, PBR, TCOM
Q1 2026 109$3.0BXP, PBR, BBD, MGA, TSM
Q4 2025 110$3.7BBBD, NTR, XP, TCOM, PBR
Q3 2025 110$3.8BBBD, NTR, TCOM, PBR, LVS
Q2 2025 123$3.7BLVS, BBD, NTR, TCOM, UBS
Q1 2025 121$3.0BNTR, LVS, BBD, TCOM, UBS
Q4 2024 122$3.1BLVS, TCOM, NTR, UBS, MLCO
Q3 2024 128$3.0BTCOM, LVS, NTR, MLCO, UBS
Q2 2024 128$2.8BBABA, NTR, MLCO, UBS, TCOM
Q1 2024 138$3.0BBABA, MLCO, TCOM, TSM, NTR