BTG Pactual Asset Management US LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), BTG Pactual Asset Management US LLC reported 221 stock positions worth $893.2 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 15.1% of the portfolio, followed by iShares Russell 1000 Growth (IWF, 8.5%) and Vngrd Mrgstr MG CP GR ETF-Ui (MGK, 3.8%). Compared with Q3 2025, it opened 99 new positions, sold out of 111, added to 71 and reduced 37. The biggest buy was a new position in Evergy (EVRG) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −13%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001569579
Portfolio Value
$893.2M (Q4 2025)
SEC Filing
0001569579-26-000001 ↗ filed Feb 17, 2026

Holdings Value

0$500.0M$1.0B$1.5B Q2 2024: $399.1M Q2 2024 Q3 2024: $688.9M Q3 2024 Q4 2024: $773.0M Q4 2024 Q1 2025: $770.6M Q1 2025 Q2 2025: $741.4M Q2 2025 Q3 2025: $841.7M Q3 2025 Q4 2025: $893.2M $893.2M Q4 2025 Q1 2026: $1.0B Q1 2026 Q2 2026: $1.3B Q2 2026

Holdings 221 stocks · $893.2M
SPY SS SPDR S&P 500 ETF Trust-US 15.11% 197,917 $135.0M Reduce -12.9%
IWF iShares Russell 1000 Growth 8.49% 178,572 $75.8M Reduce -13.2%
MGK Vngrd Mrgstr MG CP GR ETF-Ui 3.84% 93,608 $34.3M Reduce -0.5%
MGV Vngrd Mrgstr MG CP VL ETF-Ui 2.85% 194,054 $25.5M Reduce -4.6%
GOOG Alphabet Inc. Class C 2.79% 79,297 $24.9M Reduce -12.2%
BRK.B Berkshire Hathaway Inc. Class B 2.63% 46,805 $23.5M Add +58.0%
VGK Vanguard Ftse Europe ETF 2.63% 303,249 $23.5M Reduce -0.5%
AMZN Amazon.com Inc. 2.58% 99,865 $23.1M Add +11.9%
XLV SS Health Care Select Sector 2.34% 134,367 $20.9M Add +32.3%
NVDA Nvidia Corp. 2.24% 107,118 $20.0M Reduce -19.3%
JPM JPMorgan Chase & Co. 2.01% 55,683 $17.9M Reduce -12.1%
TSM Taiwan Semiconductor-SP ADR 1.75% 51,426 $15.6M Add +87.7%
GLD SPDR Gold Shares 1.67% 37,598 $14.9M Reduce -20.2%
OGE Oge Energy Corp. 1.63% 340,268 $14.5M Add +120.4%
XEL Xcel Energy Inc. 1.56% 189,188 $14.0M Add +126.7%
EVRG Evergy Inc. 1.45% 178,628 $12.9M New
VO Vngrd Mrngstr MD-Cap ETF-Usd 1.42% 45,466 $12.7M Add +3.7%
DTE DTE Energy Company 1.33% 92,354 $11.9M New
V Visa Inc. Class A 1.32% 33,743 $11.8M Add +33.8%
META Meta Platforms Inc. Class A 1.30% 17,592 $11.6M Add +6.2%
CNP Centerpoint Energy Inc. 1.28% 297,658 $11.4M Add +107.3%
WEC WEC Energy Group Inc. 1.24% 104,975 $11.1M New
LLY Eli Lilly & Co. 1.18% 9,799 $10.5M Add +62.4%
MSFT Microsoft Corp. 1.10% 20,296 $9.8M Reduce -42.1%
EWJ iShares MSCI Japan ETF 1.02% 114,392 $9.1M Reduce -2.9%
AEP American Electric Power 1.01% 78,196 $9.0M Add +58.5%
EXC Exelon Corp. 1.01% 206,408 $9.0M Add +29.0%
CEG Constellation Energy 1.00% 25,297 $8.9M Add +3.4%
VWO Vanguard Ftse Emerging Marke 0.99% 178,750 $8.8M Reduce -13.6%
GEV GE Vernova Inc. 0.99% 13,523 $8.8M Add +7.0%
PNW Pinnacle West Capital 0.89% 89,414 $7.9M Add +29.0%
VB Vanguard Most SM-Cap ETF-Usd 0.80% 30,244 $7.2M Add +3.4%
D Dominion Energy Inc. 0.78% 119,040 $7.0M New
OGS One Gas Inc. 0.75% 86,408 $6.7M New
VST Vistra Corp. 0.71% 39,323 $6.3M Reduce -0.6%
URI United Rentals Inc. 0.70% 7,704 $6.2M Add +11.2%
VFH Vanguard Financials ETF 0.68% 47,692 $6.1M Add +3.5%
UTES Virtus Reaves Utilities ETF 0.68% 75,963 $6.0M Add +5598.6%
AEE Ameren Corporation 0.67% 60,150 $6.0M Reduce -23.2%
VHT Vanguard Health Care ETF 0.65% 23,259 $5.8M Add +8.9%
VGT Vanguard Info Tech ETF 0.64% 8,647 $5.7M Reduce -8.2%
MLPX Global X MLP & Energy Infras 0.63% 89,850 $5.6M Add +3.4%
CRWD CrowdStrike Holdings Inc. Class A 0.60% 11,457 $5.4M Add +0.6%
EOG EOG Resources Inc. 0.59% 50,438 $5.3M New
ABBV Abbvie Inc. 0.59% 22,878 $5.2M Reduce -3.3%
VTEB Vanguard Tax-Exempt Bond ETF 0.52% 94,562 $4.6M Add +20.1%
HIG Hartford Insurance Group Inc. 0.51% 32,886 $4.5M New
TIGO Millicom Intl Cellular S.A. 0.49% 78,787 $4.4M Add +23.2%
IHS Ihs Holding Ltd. 0.48% 578,278 $4.3M Add +24.5%
PCG P G & E Corp. 0.46% 253,152 $4.1M New
PEG Public Service Enterprise GP 0.45% 49,942 $4.0M New
EPP iShares MSCI Pacific Ex Japa 0.44% 80,384 $4.0M Reduce -3.1%
AM Antero Midstream Corp. 0.42% 211,628 $3.8M New
SUNC Sunococorp LLC 0.42% 75,526 $3.7M New
VNQ Vanguard Real Estate ETF 0.39% 39,303 $3.5M Add +0.4%
HCA HCA Healthcare Inc. 0.39% 7,426 $3.5M Add +4.0%
CVX Chevron Corp. 0.38% 22,230 $3.4M New
AMLP Alerian MLP ETF 0.37% 67,158 $3.3M Add +0.2%
MUNI PIMCO Intermediate Municipal 0.33% 57,651 $3.0M Add +13.3%
CNQ Canadian Natural Resources 0.33% 86,373 $2.9M New
SYK Stryker Corp. 0.33% 7,802 $2.9M Add +0.3%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.29% 22,230 $2.6M Add +388.8%
RPRX Royalty Pharma PLC Class A 0.29% 66,694 $2.6M Add +9.1%
DUK Duke Energy Corp. 0.29% 21,739 $2.5M Reduce -73.5%
DHT DHT Holdings Inc. 0.28% 205,782 $2.5M New
GOOGL Alphabet Inc. Class A 0.27% 7,840 $2.5M Add +239.7%
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO 0.27% 26,446 $2.4M New
TAC Transalta Corp. 0.26% 186,980 $2.4M Add +263.2%
USHY iShares Broad Usd High Yield 0.25% 60,725 $2.2M Add +27.1%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.25% 19,902 $2.2M Reduce -59.7%
AVGO Broadcom Inc. 0.24% 6,321 $2.2M Add +69.8%
EMLP First Trust North American E 0.23% 55,680 $2.1M Add +7.0%
BTE Baytex Energy Corp. 0.23% 633,954 $2.1M New
IBB iShares Biotechnology ETF 0.23% 15,976 $2.0M Reduce -3.5%
BKH Black Hills Corp. 0.23% 29,102 $2.0M Reduce -14.4%
JMUB JPMorgan Municipal ETF 0.22% 40,458 $2.0M Add +30.3%
HIW Highwoods Properties Inc. 0.22% 60,632 $2.0M Add +101.0%
BSX Boston Scientific Corp. 0.21% 20,025 $1.9M Add +7.5%
VTI VG Morningstar TS MKT ETF-US 0.20% 5,399 $1.8M Add +2.3%
AAPL Apple Inc. 0.20% 6,592 $1.8M Add +58.7%
TIP iShares Tips Bond ETF 0.20% 16,901 $1.8M New
XAGG Ev Income Opportunities ETF 0.20% 34,980 $1.8M New
CFG Citizens Financial Group 0.20% 29,958 $1.7M Add +158.2%
APP AppLovin Corp. Class A 0.15% 2,005 $1.4M Add +140.1%
FLUT Flutter Entertainment PLC-Di 0.14% 4,425 $1.3M Add +6.0%
VIG Vanguard Dividend Apprec ETF 0.14% 5,985 $1.2M No change
NOW ServiceNow Inc. 0.13% 7,800 $1.2M Reduce -87.9%
IBIT iShares Bitcoin Trust ETF 0.13% 19,040 $1.2M Add +109.1%
UBER Uber Technologies Inc. 0.12% 12,716 $1.0M Add +232.4%
MELI MercadoLibre Inc. 0.11% 500 $1.0M New
EWL iShares MSCI Switzerland ETF 0.11% 18,176 $996K Add +10227.3%
MA Mastercard Inc. Class A 0.11% 1,700 $970K Add +217.8%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.11% 57,766 $967K Add +404.3%
PNC PNC Financial Services Group 0.10% 4,473 $934K New
VOX Vanguard Communication Servi 0.10% 5,246 $897K Add +13.1%
XBI SS SPDR S&P Biotech ETF 0.10% 7,282 $888K Reduce -53.9%
EWZ iShares MSCI Brazil ETF 0.10% 27,049 $859K New
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.08% 9,099 $734K Add +11.1%
IEMG iShares Core MSCI Emerging 0.08% 11,947 $717K Add +5.5%
IEF iShares 7-10 Year Treasury B 0.08% 7,555 $715K New
GE General Electric filed as GE AEROSPACE 0.08% 2,290 $705K Reduce -10.8%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.08% 2,674 $692K Reduce -22.4%
PGR Progressive Corp. 0.07% 2,923 $666K New
BABA Alibaba Group Holding-SP ADR 0.07% 4,411 $647K Reduce -34.3%
STIP iShares 0-5 Year Tips Bond E 0.07% 5,931 $614K Reduce -87.2%
PREF Pri Spe Pre Sec Acti-Usd Inc. 0.07% 31,478 $597K Add +4.5%
BKNG Booking Holdings Inc. 0.07% 110 $589K New
C Citigroup Inc. 0.07% 5,030 $587K Reduce -1.6%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.06% 3,724 $572K New
IVV iShares Core S&P 500 ETF 0.06% 908 $564K Reduce -5.3%
VTV Vanguard Mrngstr Val ETF-Aui 0.06% 3,184 $563K Reduce -39.0%
VRT Vertiv Holdings Co. Class A 0.06% 3,413 $553K Add +19.5%
WFC Wells Fargo & Co. 0.06% 5,892 $549K Add +20.9%
URTH iShares MSCI World ETF 0.06% 3,567 $546K Add +142.7%
INTC Intel Corp. 0.06% 14,803 $546K New
CEMB iShares JP Morgan Em Corpora 0.06% 11,991 $529K Add +1110.0%
AMD Advanced Micro Devices 0.06% 2,416 $517K New
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.06% 9,294 $511K New
IAU iShares Gold Trust 0.05% 7,670 $478K New
XLF SS Financial Select Sector 0.05% 8,462 $467K Add +0.1%
TTWO Take-Two Interactive Softwre 0.05% 1,800 $461K New
SPOT Spotify Technology SA 0.05% 750 $436K New
T AT&T Inc. 0.05% 16,955 $421K Add +60.9%
ABT Abbott Laboratories 0.05% 3,327 $417K Add +62.1%
VZ Verizon Communications Inc. 0.04% 9,510 $387K Add +67.8%
VXUS Vanguard Total Intl Stock 0.04% 5,329 $368K Add +38.5%
HD Home Depot Inc. 0.04% 1,058 $364K No change
ILF iShares Latin America 40 ETF 0.04% 11,893 $362K No change
DVA Davita Inc. 0.04% 3,006 $342K Add +111.4%
L Loews Corp. 0.04% 3,229 $340K New
IGSB iShares 1-5Y Inv Grade Corp. 0.04% 6,407 $338K No change
CCEP Coca-Cola Europacific Partne 0.04% 3,697 $335K New
LOGI Logitech International-Reg 0.04% 3,247 $334K New
RSG Republic Services Inc. 0.04% 1,561 $331K New
GILD Gilead Sciences Inc. 0.04% 2,691 $330K New
BLK BlackRock Inc. 0.04% 308 $330K New
JFLX JPMorgan Flexible Debt ETF 0.03% 6,164 $310K No change
BLW BlackRock Ltd. Durat Inc. TR 0.03% 20,578 $292K No change
MDT Medtronic PLC 0.03% 3,027 $291K New
OXY Occidental Petroleum Corp. 0.03% 7,005 $290K Reduce -7.0%
AGO Assured Guaranty Ltd. 0.03% 3,212 $289K New
FHI Federated Hermes Inc. 0.03% 5,490 $286K New
SSNC Ss&c Technologies Holdings 0.03% 3,219 $281K New
KR Kroger Co. 0.03% 4,496 $281K New
COR Cencora Inc. 0.03% 830 $280K New
NXDT Nexpoint Diversified Real Es 0.03% 66,111 $277K Add +3.7%
OTIS Otis Worldwide Corp. 0.03% 3,153 $275K New
RNR Renaissancere Holdings Ltd. 0.03% 967 $272K New
GL Globe Life Inc. 0.03% 1,933 $270K New
CPA Copa Holdings SA Class A 0.03% 2,228 $269K New
AIG American International Group 0.03% 3,126 $267K New
ESNT Essent Group Ltd. 0.03% 4,074 $265K New
DVY iShares Select Dividend ETF 0.03% 1,979 $263K Add +18.4%
AER Aercap Holdings NV 0.03% 1,819 $261K New
NFG National Fuel Gas Co. 0.03% 3,260 $261K New
AZO AutoZone Inc. 0.03% 76 $258K New
MCK McKesson Corp. 0.03% 314 $258K New
BPOP Popular Inc. 0.03% 2,062 $257K New
AXS Axis Capital Holdings Ltd. 0.03% 2,393 $256K New
GS Goldman Sachs Group Inc. 0.03% 291 $256K Reduce -72.4%
CNO Cno Financial Group Inc. 0.03% 6,006 $255K New
ADT Adt Inc. 0.03% 31,600 $255K New
CSCO Cisco Systems Inc. 0.03% 3,297 $254K New
VNET Vnet Group Inc.-ADR 0.03% 30,000 $254K New
MUE BlackRock Munihold QLT FD II 0.03% 26,357 $253K Reduce -35.3%
BOND PIMCO Active Bond Exchange-T 0.03% 2,729 $252K No change
VT Vanguard Tot World STK ETF 0.03% 1,947 $250K Add +13.4%
BYD Boyd Gaming Corp. 0.03% 2,917 $249K New
FXI iShares China Large-Cap ETF 0.03% 6,441 $247K Add +13.7%
BGB Blackstone Strategic Credit 0.03% 20,251 $245K No change
CCU Cia Cervecerias Uni-Spon ADR filed as COMPANIA CERVECERIAS UNIDAS 0.03% 18,949 $245K Reduce -17.9%
ITT Itt Inc. 0.03% 1,410 $245K New
RS Reliance Inc. 0.03% 840 $243K New
TMUS T-Mobile US Inc. 0.03% 1,192 $242K New
STT State Street Corp. 0.03% 1,871 $241K New
JCI Johnson Controls Internation 0.03% 2,011 $241K New
FCFS Firstcash Holdings Inc. 0.03% 1,507 $240K New
EHC Encompass Health Corp. 0.03% 2,259 $240K New
BEN Franklin Templeton Inc. 0.03% 10,036 $240K New
BWA Borgwarner Inc. 0.03% 5,287 $238K New
TDG Transdigm Group Inc. 0.03% 178 $237K New
SPHD Invesco S&P 500 High Dividen 0.03% 4,877 $232K No change
MET Metlife Inc. 0.03% 2,937 $232K New
F Ford Motor Co. filed as FORD MTR CO 0.03% 17,549 $230K New
CMI Cummins Inc. 0.03% 450 $230K New
CAH Cardinal Health Inc. 0.03% 1,107 $227K New
NOMD Nomad Foods Ltd. 0.03% 17,908 $224K New
SF Stifel Financial Corp. 0.02% 1,776 $222K New
SHOP Shopify Inc. Class A 0.02% 1,372 $221K No change
VBIL Vanguard 0-3M T-Bill ETF 0.02% 2,909 $219K Reduce -66.1%
NEM Newmont Corp. 0.02% 2,193 $219K New
ALV Autoliv Inc. 0.02% 1,815 $215K New
PAG Penske Automotive Group Inc. 0.02% 1,356 $215K New
DINO HF Sinclair Corp. 0.02% 4,614 $213K New
UNM Unum Group 0.02% 2,732 $212K New
RL Ralph Lauren Corp. 0.02% 592 $209K New
GPK Graphic Packaging Holding Co. 0.02% 13,816 $208K New
EQH Equitable Holdings Inc. 0.02% 4,336 $207K New
MGY Magnolia Oil & Gas Corp. Class A 0.02% 9,427 $206K New
SNX TD Synnex Corp. 0.02% 1,364 $205K New
VCIT Vanguard Int-Term Corporate 0.02% 2,444 $205K New
FHN First Horizon Corp. 0.02% 8,544 $204K New
LNC Lincoln National Corp. 0.02% 4,547 $202K New
ABEV Ambev SA-ADR 0.02% 80,352 $202K Reduce -32.2%
NTES Netease Inc.-ADR 0.02% 1,457 $201K New
CNNE Cannae Holdings Inc. 0.02% 12,455 $196K New
VTRS Viatris Inc. 0.02% 16,180 $168K Reduce -46.0%
PENN Penn Entertainment Inc. 0.02% 10,472 $154K New
BCSF Bain Capital Specialty Finan 0.02% 10,121 $152K New
PAGS Pagseguro Digital Ltd. Class A 0.02% 15,418 $149K New
XRAY Dentsply Sirona Inc. 0.02% 12,959 $148K New
ALIT Alight Inc. Class A 0.01% 60,226 $117K Add +199.0%
OGN Organon & Co. 0.01% 16,257 $117K New
LX Lexinfintech Holdings L-ADR 0.01% 31,336 $102K New
AVAL Grupo Aval Acciones Y Valore 0.01% 35,147 $99K No change
TELFY Telefonica SA-Spon ADR 0.01% 17,404 $91K No change
AMGN Amgen Inc. 0.01% 262 $86K New
XRX Xerox Holdings Corp. 0.01% 32,860 $78K Add +158.9%
MIN Aberdeen Intermediate Inc. FD 0.01% 28,615 $78K No change
ACP Abrdn Income Credit Strat 0.01% 10,360 $61K No change
QQQ Invesco QQQ Trust Series 1 0.00% 33 $20K New

Options reported separately and not counted above: HYG puts ($64.5M), SPY puts ($15.8M), BA calls ($6.1M), BA puts ($6.1M), QQQ puts ($6.1M), META calls ($4.4M), META puts ($4.4M), GM calls ($4.2M), GM puts ($4.2M), QQQ calls ($3.1M), GLD calls ($2.7M), SMH puts ($1.8M), and 9 more.

Other holdings (1): bonds, preferreds, convertibles and warrants · $6.7M (not counted above)
SecurityClassShares / PrincipalValueChange
KOSMOS ENERGY LTD (KOS 3.125 03/15/30) NOTE 3.125% 3/1 · principal 15,705,000$6.7MAdd +46.7%

Total filed on the 13F, all lines: $900.0M.

Portfolio Sells Q3 2025 → Q4 2025
SPY SS SPDR S&P 500 ETF Trust-US Reduce -12.9% 15.11% −2.88
IWF iShares Russell 1000 Growth Reduce -13.2% 8.49% −1.89
NOW ServiceNow Inc. Reduce -87.9% 0.13% −1.28
MSFT Microsoft Corp. Reduce -42.1% 1.10% −1.06
CYBR Cyberark Software Ltd./Israel Sold out 0.00% −1.06
LNT Alliant Energy Corp. Sold out 0.00% −0.97
DUK Duke Energy Corp. Reduce -73.5% 0.29% −0.92
K Kellanova Sold out 0.00% −0.81
NVDA Nvidia Corp. Reduce -19.3% 2.24% −0.71
FYBR Frontier Communications Pare Sold out 0.00% −0.64
STIP iShares 0-5 Year Tips Bond E Reduce -87.2% 0.07% −0.50
AWK American Water Works Co. Inc. Sold out 0.00% −0.42
LQD Ishr Ibx Usd Invgd CB ETF-Ui Reduce -59.7% 0.25% −0.40
JPM JPMorgan Chase & Co. Reduce -12.1% 2.01% −0.36
GLD SPDR Gold Shares Reduce -20.2% 1.67% −0.32
KMI Kinder Morgan Inc. Sold out 0.00% −0.32
MGV Vngrd Mrgstr MG CP VL ETF-Ui Reduce -4.6% 2.85% −0.32
NEE Nextera Energy Inc. Sold out 0.00% −0.31
SRE Sempra Sold out 0.00% −0.30
AEE Ameren Corporation Reduce -23.2% 0.67% −0.30
OKE Oneok Inc. Sold out 0.00% −0.26
FE Firstenergy Corp. Sold out 0.00% −0.26
JBS JBS NV-A Sold out 0.00% −0.26
MGK Vngrd Mrgstr MG CP GR ETF-Ui Reduce -0.5% 3.84% −0.25
BMO Bank of Montreal Sold out 0.00% −0.25
ES Eversource Energy Sold out 0.00% −0.24
VWO Vanguard Ftse Emerging Marke Reduce -13.6% 0.99% −0.23
VST Vistra Corp. Reduce -0.6% 0.71% −0.21
SU Suncor Energy Inc. Sold out 0.00% −0.20
WTRG Essential Utilities Inc. Sold out 0.00% −0.19
VGK Vanguard Ftse Europe ETF Reduce -0.5% 2.63% −0.17
SPR Spirit Aerosystems Hold Class A Sold out 0.00% −0.15
STNE Stoneco Ltd. Class A Sold out 0.00% −0.15
PSX Phillips 66 Sold out 0.00% −0.15
KWEB Kranesh Csi China Internet Sold out 0.00% −0.14
XOM Exxon Mobil Corp. Sold out 0.00% −0.13
AR Antero Resources Corp. Sold out 0.00% −0.13
NI Nisource Inc. Sold out 0.00% −0.12
DD Dupont DE Nemours Inc. Sold out 0.00% −0.12
DIREXION SHARES ETF TRUST Sold out 0.00% −0.10
FCX Freeport-McMoran Inc. Sold out 0.00% −0.10
VGT Vanguard Info Tech ETF Reduce -8.2% 0.64% −0.10
XHB SS SPDR S&P Homebldrs ETF Sold out 0.00% −0.10
ACWI iShares MSCI Acwi ETF Sold out 0.00% −0.09
EWJ iShares MSCI Japan ETF Reduce -2.9% 1.02% −0.09
DTM DT Midstream Inc. Sold out 0.00% −0.09
SBLK Star Bulk Carriers Corp. Sold out 0.00% −0.09
IWM iShares Russell 2000 ETF Sold out 0.00% −0.08
VIST Vista Energy Sab DE CV Sold out 0.00% −0.07
GS Goldman Sachs Group Inc. Reduce -72.4% 0.03% −0.07

Portfolio Buys Q3 2025 → Q4 2025
EVRG Evergy Inc. New 1.45% +1.45
DTE DTE Energy Company New 1.33% +1.33
WEC WEC Energy Group Inc. New 1.24% +1.24
BRK.B Berkshire Hathaway Inc. Class B Add +58.0% 2.63% +0.92
TSM Taiwan Semiconductor-SP ADR Add +87.7% 1.75% +0.84
D Dominion Energy Inc. New 0.78% +0.78
OGE Oge Energy Corp. Add +120.4% 1.63% +0.78
XEL Xcel Energy Inc. Add +126.7% 1.56% +0.76
OGS One Gas Inc. New 0.75% +0.75
XLV SS Health Care Select Sector Add +32.3% 2.34% +0.72
UTES Virtus Reaves Utilities ETF Add +5598.6% 0.68% +0.66
LLY Eli Lilly & Co. Add +62.4% 1.18% +0.63
CNP Centerpoint Energy Inc. Add +107.3% 1.28% +0.62
EOG EOG Resources Inc. New 0.59% +0.59
HIG Hartford Insurance Group Inc. New 0.51% +0.51
PCG P G & E Corp. New 0.46% +0.46
PEG Public Service Enterprise GP New 0.45% +0.45
AM Antero Midstream Corp. New 0.42% +0.42
SUNC Sunococorp LLC New 0.42% +0.42
CVX Chevron Corp. New 0.38% +0.38
AEP American Electric Power Add +58.5% 1.01% +0.35
CNQ Canadian Natural Resources New 0.33% +0.33
V Visa Inc. Class A Add +33.8% 1.32% +0.30
DHT DHT Holdings Inc. New 0.28% +0.28
CM Can Imperial BK of Commerce New 0.27% +0.27
AMZN Amazon.com Inc. Add +11.9% 2.58% +0.25
BNY Bank of New York Mellon Corp. Add +388.8% 0.29% +0.23
BTE Baytex Energy Corp. New 0.23% +0.23
GOOGL Alphabet Inc. Class A Add +239.7% 0.27% +0.21
TIGO Millicom Intl Cellular S.A. Add +23.2% 0.49% +0.20
TIP iShares Tips Bond ETF New 0.20% +0.20
XAGG Ev Income Opportunities ETF New 0.20% +0.20
TAC Transalta Corp. Add +263.2% 0.26% +0.18
EXC Exelon Corp. Add +29.0% 1.01% +0.15
PNW Pinnacle West Capital Add +29.0% 0.89% +0.15
CFG Citizens Financial Group Add +158.2% 0.20% +0.12
MELI MercadoLibre Inc. New 0.11% +0.11
EWL iShares MSCI Switzerland ETF Add +10227.3% 0.11% +0.11
IHS Ihs Holding Ltd. Add +24.5% 0.48% +0.11
PNC PNC Financial Services Group New 0.10% +0.10
HIW Highwoods Properties Inc. Add +101.0% 0.22% +0.10
AVGO Broadcom Inc. Add +69.8% 0.24% +0.10
EWZ iShares MSCI Brazil ETF New 0.10% +0.10
HCA HCA Healthcare Inc. Add +4.0% 0.39% +0.10
NU Nu Holdings Ltd./Cayman Isl-A Add +404.3% 0.11% +0.09
APP AppLovin Corp. Class A Add +140.1% 0.15% +0.08
IEF iShares 7-10 Year Treasury B New 0.08% +0.08
AAPL Apple Inc. Add +58.7% 0.20% +0.07
PGR Progressive Corp. New 0.07% +0.07
MA Mastercard Inc. Class A Add +217.8% 0.11% +0.07

Options Activity Q3 2025 → Q4 2025
SPY SS SPDR S&P 500 ETF Trust-US call Sold out 1,642,700 $1.1Bbefore exit
HYG Ishr Ibx Usd Hiyld CB ETF-Ui put New 800,000 $64.5M
HUT Hut 8 Corp. call Sold out 975,000 $33.9Mbefore exit
IREN Iren Ltd. call Sold out 690,000 $32.4Mbefore exit
CIFR Cipher Digital Inc. call Sold out 2,400,000 $30.2Mbefore exit
SPY SS SPDR S&P 500 ETF Trust-US put Reduce -68.4% 23,200 $15.8M
AAPL Apple Inc. call Sold out 41,500 $10.6Mbefore exit
AAPL Apple Inc. put Sold out 41,500 $10.6Mbefore exit
K Kellanova put Sold out 80,000 $6.6Mbefore exit
KWEB Kranesh Csi China Internet call Sold out 150,000 $6.3Mbefore exit
BA The Boeing Co. call New 28,300 $6.1M
BA The Boeing Co. put New 28,300 $6.1M
QQQ Invesco QQQ Trust Series 1 put New 10,000 $6.1M
META Meta Platforms Inc. Class A call New 6,700 $4.4M
META Meta Platforms Inc. Class A put New 6,700 $4.4M
GM General Motors Co. call New 51,200 $4.2M
GM General Motors Co. put New 51,200 $4.2M
QQQ Invesco QQQ Trust Series 1 call New 5,000 $3.1M
GLD SPDR Gold Shares call New 6,800 $2.7M
EWT iShares MSCI Taiwan ETF put Sold out 29,000 $1.8Mbefore exit
EWT iShares MSCI Taiwan ETF call Sold out 29,000 $1.8Mbefore exit
SMH Vaneck Semiconductor ETF put New 5,000 $1.8M
WBD Warner Bros Discovery Inc. call New 50,000 $1.4M
ARGT Global X MSCI Argentina ETF call Sold out 13,500 $942Kbefore exit
EQT Eqt Corp. call Sold out 12,000 $653Kbefore exit
APP AppLovin Corp. Class A put New 800 $539K
GLD SPDR Gold Shares put New 800 $317K
BRK.B Berkshire Hathaway Inc. Class B call New 600 $302K
BRK.B Berkshire Hathaway Inc. Class B put New 600 $302K
IWM iShares Russell 2000 ETF call Reduce -95.8% 1,000 $246K
IWM iShares Russell 2000 ETF put New 1,000 $246K
AMGN Amgen Inc. put New 300 $98K
AMGN Amgen Inc. call New 300 $98K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q3 2025 → Q4 2025
KOSMOS ENERGY LTD (KOS 3.125 03/15/30) NOTE 3.125% 3/1 · principal Add +46.7% 15,705,000 $6.7M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 412$1.3BVOO, IWF, MGK, NVDA, AMZN
Q1 2026 302$1.0BVOO, IWF, MGK, MGV, NVDA
Q4 2025 221$893.2MSPY, IWF, MGK, MGV, GOOG
Q3 2025 233$841.7MSPY, IWF, MGK, MGV, NVDA
Q2 2025 205$741.4MSPY, IWF, MGK, MGV, VGK
Q1 2025 212$770.6MSPY, IWF, GOOG, BRK.B, MGV
Q4 2024 246$773.0MSPY, IWF, GOOG, BRK.B, MGV
Q3 2024 192$688.9MSPY, IWF, BRK.B, GOOG, MGV
Q2 2024 111$399.1MSPY, IWF, BRK.B, FLUT, LQD