BTG Pactual Asset Management US LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), BTG Pactual Asset Management US LLC reported 302 stock positions worth $1.0 billion. Its top holding was Vanguard S&P 500 ETF (VOO) at 10.3% of the portfolio, followed by iShares Russell 1000 Growth (IWF, 7.3%) and Vngrd Mrgstr MG CP GR ETF-Ui (MGK, 3.6%). Compared with Q4 2025, it opened 146 new positions, sold out of 65, added to 92 and reduced 47. The biggest buy was a new position in Vanguard S&P 500 ETF (VOO) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −87%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001569579
Portfolio Value
$1.0B (Q1 2026)
SEC Filing
0001569579-26-000002 ↗ filed May 14, 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 Q4 2025 Q1 2026: $1.0B $1.0B Q1 2026 Q2 2026: $1.3B Q2 2026

Holdings 302 stocks · $1.0B
VOO Vanguard S&P 500 ETF 10.31% 174,352 $104.2M New
IWF iShares Russell 1000 Growth 7.26% 171,905 $73.3M Reduce -3.7%
MGK Vngrd Mrgstr MG CP GR ETF-Ui 3.56% 97,943 $36.0M Add +4.6%
MGV Vngrd Mrgstr MG CP VL ETF-Ui 3.07% 214,276 $31.1M Add +10.4%
NVDA Nvidia Corp. 2.57% 148,729 $25.9M Add +38.9%
AMZN Amazon.com Inc. 2.49% 120,781 $25.2M Add +20.9%
VGK Vanguard Ftse Europe ETF 2.32% 284,666 $23.5M Reduce -6.1%
GOOG Alphabet Inc. Class C 2.15% 75,844 $21.8M Reduce -4.3%
BRK.B Berkshire Hathaway Inc. Class B 2.13% 44,995 $21.6M Reduce -3.9%
GLD SPDR Gold Shares 1.85% 43,399 $18.7M Add +15.4%
SPY SS SPDR S&P 500 ETF Trust-US 1.71% 26,635 $17.3M Reduce -86.5%
TSM Taiwan Semiconductor-SP ADR 1.68% 50,148 $16.9M Reduce -2.5%
JPM JPMorgan Chase & Co. 1.50% 51,616 $15.2M Reduce -7.3%
AEE Ameren Corporation 1.44% 132,735 $14.6M Add +120.7%
XLV SS Health Care Select Sector 1.33% 91,722 $13.4M Reduce -31.7%
D Dominion Energy Inc. 1.24% 202,152 $12.5M Add +69.8%
WEC WEC Energy Group Inc. 1.22% 106,076 $12.3M Add +1.1%
AEP American Electric Power 1.21% 93,020 $12.2M Add +19.0%
VO Vngrd Mrngstr MD-Cap ETF-Usd 1.16% 40,926 $11.8M Reduce -10.0%
PBR Petroleo Brasileiro-Spon ADR 1.16% 564,270 $11.7M New
GEV GE Vernova Inc. 1.13% 13,101 $11.4M Reduce -3.1%
META Meta Platforms Inc. Class A 1.12% 19,732 $11.3M Add +12.2%
ITUB Itau Unibanco H-Spon PRF ADR 1.11% 1,343,809 $11.3M New
LLY Eli Lilly & Co. 1.09% 11,939 $11.0M Add +21.8%
VWO Vanguard Ftse Emerging Marke 1.07% 199,778 $10.8M Add +11.8%
XEL Xcel Energy Inc. 1.06% 135,164 $10.7M Reduce -28.6%
EWJ iShares MSCI Japan ETF 0.98% 116,782 $9.9M Add +2.1%
VALE Vale SA-SP ADR 0.93% 590,567 $9.4M New
OGS One Gas Inc. 0.90% 105,278 $9.1M Add +21.8%
WTRG Essential Utilities Inc. 0.87% 217,672 $8.8M New
PCG P G & E Corp. 0.84% 483,276 $8.5M Add +90.9%
VST Vistra Corp. 0.84% 56,176 $8.4M Add +42.9%
VONG Vanguard Russell 1000 Growth 0.82% 75,145 $8.2M New
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.73% 513,877 $7.4M Add +789.6%
V Visa Inc. Class A 0.72% 24,098 $7.3M Reduce -28.6%
VISN Vistance Networks Inc. 0.72% 400,000 $7.3M New
FE Firstenergy Corp. 0.71% 142,494 $7.2M New
VB Vanguard Most SM-Cap ETF-Usd 0.69% 26,683 $7.0M Reduce -11.8%
CEG Constellation Energy 0.68% 24,551 $6.9M Reduce -3.0%
MSFT Microsoft Corp. 0.67% 18,232 $6.7M Reduce -10.2%
VHT Vanguard Health Care ETF 0.66% 24,642 $6.7M Add +6.0%
URI United Rentals Inc. 0.65% 8,976 $6.5M Add +16.5%
NSC Norfolk Southern Corp. 0.64% 22,619 $6.5M New
UTES Virtus Reaves Utilities ETF 0.64% 80,676 $6.4M Add +6.2%
VFH Vanguard Financials ETF 0.62% 51,872 $6.3M Add +8.8%
MLPX Global X MLP & Energy Infras 0.62% 84,519 $6.2M Reduce -5.9%
ABBV Abbvie Inc. 0.61% 28,476 $6.2M Add +24.5%
VGT Vanguard Info Tech ETF 0.59% 8,517 $5.9M Reduce -1.5%
TIGO Millicom Intl Cellular S.A. 0.58% 77,672 $5.8M Reduce -1.4%
OGE Oge Energy Corp. 0.57% 119,712 $5.7M Reduce -64.8%
CMS CMS Energy Corp. 0.54% 70,873 $5.5M New
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.52% 48,248 $5.3M Add +142.4%
WBS Webster Financial Corp. 0.48% 70,000 $4.9M New
SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI 0.48% 159,201 $4.9M New
SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE 0.47% 58,700 $4.8M New
EA Electronic Arts Inc. 0.46% 23,000 $4.7M New
ED Consolidated Edison Inc. 0.45% 40,438 $4.6M New
VTEB Vanguard Tax-Exempt Bond ETF 0.45% 90,255 $4.5M Reduce -4.5%
GOOGL Alphabet Inc. Class A 0.44% 15,596 $4.5M Add +98.9%
CVX Chevron Corp. 0.44% 21,251 $4.4M Reduce -4.4%
MELI MercadoLibre Inc. 0.43% 2,529 $4.4M Add +405.8%
HCA HCA Healthcare Inc. 0.43% 9,145 $4.3M Add +23.1%
ENIC Enel Chile SA-ADR 0.42% 1,089,800 $4.3M New
EPP iShares MSCI Pacific Ex Japa 0.42% 79,380 $4.2M Reduce -1.3%
WBD Warner Bros Discovery Inc. 0.39% 142,000 $3.9M New
KVUE Kenvue Inc. 0.38% 223,921 $3.9M New
USHY iShares Broad Usd High Yield 0.38% 104,657 $3.9M Add +72.3%
PPL PPL Corp. 0.38% 99,328 $3.8M New
MUNI PIMCO Intermediate Municipal 0.36% 69,355 $3.6M Add +20.3%
SYK Stryker Corp. 0.35% 9,508 $3.5M Add +21.9%
ECHO Echostar Corp. Class A 0.35% 30,000 $3.5M New
VNQ Vanguard Real Estate ETF 0.35% 39,469 $3.5M Add +0.4%
AVGO Broadcom Inc. 0.31% 10,201 $3.2M Add +61.4%
RPRX Royalty Pharma PLC Class A 0.28% 59,659 $2.9M Reduce -10.6%
BKH Black Hills Corp. 0.28% 41,001 $2.8M Add +40.9%
CFG Citizens Financial Group 0.28% 47,145 $2.8M Add +57.4%
TIP iShares Tips Bond ETF 0.27% 26,229 $2.8M Add +55.2%
GGB Gerdau SA -Spon ADR 0.27% 765,924 $2.8M New
B Barrick Mining Corp. 0.27% 66,254 $2.7M New
IBB iShares Biotechnology ETF 0.27% 15,997 $2.7M Add +0.1%
XAGG Ev Income Opportunities ETF 0.26% 51,343 $2.6M Add +46.8%
AAPL Apple Inc. 0.25% 10,118 $2.6M Add +53.5%
JMUB JPMorgan Municipal ETF 0.25% 50,374 $2.5M Add +24.5%
EMLP First Trust North American E 0.25% 57,449 $2.5M Add +3.2%
SLB SLB Ltd. filed as SLB LIMITED 0.23% 44,621 $2.3M New
TAC Transalta Corp. 0.22% 169,173 $2.2M Reduce -9.5%
CNP Centerpoint Energy Inc. 0.22% 50,428 $2.2M Reduce -83.1%
AMLP Alerian MLP ETF 0.21% 40,467 $2.1M Reduce -39.7%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.21% 17,716 $2.1M Reduce -20.3%
IEF iShares 7-10 Year Treasury B 0.20% 20,964 $2.0M Add +177.5%
BSX Boston Scientific Corp. 0.19% 21,128 $2.0M Add +5.5%
TVA Texas Ventures Acquisition-A 0.19% 186,531 $1.9M New
AR Antero Resources Corp. 0.19% 45,281 $1.9M New
SUZ Suzano SA - Spon ADR 0.18% 182,120 $1.8M New
BBD Banco Bradesco-ADR 0.18% 494,580 $1.8M New
TDAY USA Today Co. Inc. 0.17% 250,000 $1.8M New
VTI VG Morningstar TS MKT ETF-US 0.17% 5,399 $1.7M No change
AES AES Corp. 0.17% 120,000 $1.7M New
OXY Occidental Petroleum Corp. 0.16% 24,931 $1.6M Add +255.9%
TXNM TXNM Energy Inc. 0.16% 26,846 $1.6M New
SM SM Energy Co. 0.15% 49,460 $1.5M New
HIG Hartford Insurance Group Inc. 0.15% 11,098 $1.5M Reduce -66.3%
SU Suncor Energy Inc. 0.14% 21,737 $1.4M New
INSW International Seaways Inc. 0.14% 19,182 $1.4M New
PNC PNC Financial Services Group 0.14% 6,644 $1.4M Add +48.5%
SPOT Spotify Technology SA 0.14% 2,833 $1.4M Add +277.7%
HIW Highwoods Properties Inc. 0.13% 63,597 $1.4M Add +4.9%
TRP TC Energy Corp. 0.13% 21,719 $1.4M New
TRMD Torm PLC-A 0.13% 48,498 $1.4M New
PAAS Pan American Silver Corp. 0.13% 23,576 $1.3M New
VIG Vanguard Dividend Apprec ETF 0.13% 5,941 $1.3M Reduce -0.7%
SLSR Solaris Resources Inc. 0.12% 143,208 $1.2M New
STUB Stubhub Holdings Inc. Class A 0.12% 71,445 $1.2M New
OVV Ovintiv Inc. 0.12% 20,540 $1.2M New
SBLK Star Bulk Carriers Corp. 0.12% 51,584 $1.2M New
MA Mastercard Inc. Class A 0.12% 2,333 $1.2M Add +37.2%
CMBT CMB Tech NV 0.11% 89,003 $1.1M New
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.11% 6,816 $1.1M Add +83.0%
EWL iShares MSCI Switzerland ETF 0.11% 18,176 $1.1M No change
WPM Wheaton Precious Metals Corp. 0.10% 8,076 $1.1M New
GS Goldman Sachs Group Inc. 0.10% 1,239 $1.0M Add +325.8%
CNR Core Natural Resources Inc. 0.10% 9,927 $1.0M New
CSANY Cosan SA -ADR 0.10% 247,680 $1.0M New
GOVT iShares US Treasury Bond ETF 0.10% 43,195 $990K New
IBIT iShares Bitcoin Trust ETF 0.10% 25,340 $974K Add +33.1%
ULTA Ulta Beauty Inc. 0.10% 1,838 $961K New
ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV 0.09% 725 $958K New
IEMG iShares Core MSCI Emerging 0.09% 13,267 $925K Add +11.1%
XBI SS SPDR S&P Biotech ETF 0.09% 7,146 $913K Reduce -1.9%
VOX Vanguard Communication Servi 0.09% 4,913 $884K Reduce -6.3%
APP AppLovin Corp. Class A 0.09% 2,166 $862K Add +8.0%
VEA Vanguard Ftse Developed ETF 0.08% 17,128 $847K New
SSRM SSR Mining Inc. 0.08% 28,767 $846K New
INTC Intel Corp. 0.08% 18,303 $808K Add +23.6%
EMXC iShares MSCI Emr MRK Ex Chna 0.08% 10,006 $787K New
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.07% 3,460 $749K Add +29.4%
IVZ Invesco Ltd. 0.07% 30,481 $740K New
PG The Procter & Gamble Co. 0.07% 5,105 $737K New
MCO Moody's Corp. 0.07% 1,690 $737K New
PREF Pri Spe Pre Sec Acti-Usd Inc. 0.07% 38,820 $731K Add +23.3%
BTG B2GOLD Corp. 0.07% 161,097 $730K New
SPHQ Invesco S&P 500 Quality ETF 0.07% 9,705 $730K New
UBER Uber Technologies Inc. 0.07% 10,116 $728K Reduce -20.4%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.07% 9,099 $724K No change
GBDC Golub Capital BDC Inc. 0.07% 729 $698K New
AMD Advanced Micro Devices 0.07% 3,416 $695K Add +41.4%
VRT Vertiv Holdings Co. Class A 0.07% 2,698 $676K Reduce -20.9%
GE General Electric filed as GE AEROSPACE 0.07% 2,333 $662K Add +1.9%
BKNG Booking Holdings Inc. 0.06% 155 $653K Add +40.9%
TTWO Take-Two Interactive Softwre 0.06% 3,250 $642K Add +80.6%
STIP iShares 0-5 Year Tips Bond E 0.06% 6,041 $625K Add +1.9%
FLUT Flutter Entertainment PLC-Di 0.06% 5,984 $610K Add +35.2%
IGV iShares Expanded Tech-Softwa 0.06% 7,539 $603K New
MHD BlackRock Muniholdings Fund 0.06% 51,554 $582K New
C Citigroup Inc. 0.06% 5,125 $581K Add +1.9%
BABA Alibaba Group Holding-SP ADR 0.05% 4,411 $553K No change
CEMB iShares JP Morgan Em Corpora 0.05% 11,991 $543K No change
IVV iShares Core S&P 500 ETF 0.05% 815 $532K Reduce -10.2%
DIHP Dimensional International Hi 0.05% 15,924 $513K New
XOM Exxon Mobil Corp. 0.05% 2,990 $507K New
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.05% 10,378 $506K Add +11.7%
JQUA JPMorgan US Quality Factor 0.05% 7,780 $477K New
MU Micron Technology Inc. 0.04% 1,290 $436K New
INTU Intuit Inc. 0.04% 1,000 $432K New
JEPI JPMorgan Equity Premium Inco 0.04% 7,529 $427K New
CRWD CrowdStrike Holdings Inc. Class A 0.04% 1,090 $426K Reduce -90.5%
XLF SS Financial Select Sector 0.04% 8,617 $425K Add +1.8%
VTRS Viatris Inc. 0.04% 31,389 $424K Add +94.0%
ILF iShares Latin America 40 ETF 0.04% 11,893 $422K No change
RTX RTX Corp. 0.04% 2,188 $422K New
VXUS Vanguard Total Intl Stock 0.04% 5,429 $419K Add +1.9%
IQLT iShares MSCI International Q 0.04% 11,038 $415K New
SKYT Skywater Technology Inc. 0.04% 15,000 $411K New
EOG EOG Resources Inc. 0.04% 2,681 $388K Reduce -94.7%
INGR Ingredion Inc. 0.04% 3,221 $363K New
HD Home Depot Inc. 0.03% 1,058 $348K No change
MSCI MSCI Inc. 0.03% 644 $347K New
BLW BlackRock Ltd. Durat Inc. TR 0.03% 27,230 $343K Add +32.3%
IGSB iShares 1-5Y Inv Grade Corp. 0.03% 6,407 $337K No change
MS Morgan Stanley 0.03% 1,992 $328K New
BGB Blackstone Strategic Credit 0.03% 29,223 $326K Add +44.3%
OCSL Oaktree Specialty Lending Co. 0.03% 28,466 $322K New
NXDT Nexpoint Diversified Real Es 0.03% 68,123 $318K Add +3.0%
BAP Credicorp Ltd. 0.03% 924 $313K New
FHI Federated Hermes Inc. 0.03% 5,523 $313K Add +0.6%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.03% 3,436 $310K New
MQY BlackRock Muniyield Quality 0.03% 28,203 $310K New
NTRS Northern Trust Corp. 0.03% 2,208 $308K New
RNR Renaissancere Holdings Ltd. 0.03% 1,036 $308K Add +7.1%
JFLX JPMorgan Flexible Debt ETF 0.03% 6,164 $306K No change
KHC The Kraft Heinz Co. 0.03% 13,607 $306K New
PEG Public Service Enterprise GP 0.03% 3,775 $306K Reduce -92.4%
DTM DT Midstream Inc. 0.03% 2,243 $302K New
HIMU iShares High Yild Muni A ETF 0.03% 6,289 $302K New
DVY iShares Select Dividend ETF 0.03% 1,979 $300K No change
WFC Wells Fargo & Co. 0.03% 3,736 $297K Reduce -36.6%
BLK BlackRock Inc. 0.03% 308 $296K No change
MTG Mgic Investment Corp. 0.03% 11,136 $292K New
STT State Street Corp. 0.03% 2,304 $292K Add +23.1%
OTIS Otis Worldwide Corp. 0.03% 3,769 $291K Add +19.5%
PAGP Plains GP Holdings LP 0.03% 11,914 $289K New
AXS Axis Capital Holdings Ltd. 0.03% 2,802 $284K Add +17.1%
PRU Prudential Financial Inc. 0.03% 2,899 $283K New
PML PIMCO Municipal Income FD II 0.03% 37,342 $283K New
BYD Boyd Gaming Corp. 0.03% 3,390 $279K Add +16.2%
GIS General Mills Inc. 0.03% 7,478 $278K New
IMO Imperial Oil Ltd. 0.03% 2,115 $277K New
CCU Cia Cervecerias Uni-Spon ADR filed as COMPANIA CERVECERIAS UNIDAS 0.03% 24,083 $273K Add +27.1%
VBIL Vanguard 0-3M T-Bill ETF 0.03% 3,596 $272K Add +23.6%
PNR Pentair PLC 0.03% 3,107 $271K New
ET Energy Transfer LP 0.03% 13,953 $269K New
UBS UBS Group AG-Reg 0.03% 6,972 $268K New
SNX TD Synnex Corp. 0.03% 1,581 $267K Add +15.9%
SRE Sempra 0.03% 2,721 $264K New
AOS Smith (a.o.) Corp. 0.03% 3,987 $263K New
MTB M & T Bank Corp. filed as M & T BK CORP 0.03% 1,268 $262K New
ORA Ormat Technologies Inc. 0.03% 2,327 $260K New
ABEV Ambev SA-ADR 0.03% 87,987 $257K Add +9.5%
CMI Cummins Inc. 0.03% 474 $255K Add +5.3%
VT Vanguard Tot World STK ETF 0.03% 1,843 $255K Reduce -5.3%
ARCC Ares Capital Corp. 0.03% 14,141 $255K New
AM Antero Midstream Corp. 0.03% 11,152 $254K Reduce -94.7%
SNDK Sandisk Corp. 0.03% 400 $254K New
JNJ Johnson & Johnson 0.03% 1,032 $252K New
LAUR Laureate Education Inc. 0.03% 7,240 $252K New
BOND PIMCO Active Bond Exchange-T 0.02% 2,729 $252K No change
CPT Camden Property Trust 0.02% 2,000 $252K New
PAG Penske Automotive Group Inc. 0.02% 1,681 $251K Add +24.0%
EIX Edison International 0.02% 3,419 $250K New
ATHM Autohome Inc.-ADR 0.02% 14,344 $249K New
ALV Autoliv Inc. 0.02% 2,362 $248K Add +30.1%
GVA Granite Construction Inc. 0.02% 2,062 $247K New
EQH Equitable Holdings Inc. 0.02% 6,580 $244K Add +51.8%
F Ford Motor Co. filed as FORD MTR CO 0.02% 21,115 $244K Add +20.3%
TFC Truist Financial Corp. 0.02% 5,268 $242K New
SPHD Invesco S&P 500 High Dividen 0.02% 4,877 $242K No change
AN Autonation Inc. 0.02% 1,230 $240K New
DEI Douglas Emmett Inc. 0.02% 25,320 $239K New
ADI Analog Devices Inc. 0.02% 748 $238K New
BPOP Popular Inc. 0.02% 1,767 $237K Reduce -14.3%
CW Curtiss-Wright Corp. 0.02% 348 $237K New
CAH Cardinal Health Inc. 0.02% 1,121 $237K Add +1.3%
CNNE Cannae Holdings Inc. 0.02% 20,714 $236K Add +66.3%
RF Regions Financial Corp. 0.02% 9,012 $235K New
FXI iShares China Large-Cap ETF 0.02% 6,555 $235K Add +1.8%
WMK Weis Markets Inc. filed as WEIS MKTS INC 0.02% 3,423 $234K New
OZK Bank Ozk 0.02% 5,095 $234K New
JBGS JBG Smith Properties 0.02% 15,532 $227K New
VNET Vnet Group Inc.-ADR 0.02% 26,666 $224K Reduce -11.1%
ADT Adt Inc. 0.02% 34,019 $224K Add +7.7%
GPI Group 1 Automotive Inc. 0.02% 674 $223K New
HDV iShares Core High Dividend E 0.02% 1,632 $221K New
AMRX Amneal Pharmaceuticals Inc. 0.02% 17,785 $221K New
CPB The Campbell's Company 0.02% 9,901 $220K New
ABM Abm Industries Inc. 0.02% 5,666 $218K New
WKC World Kinect Corp. 0.02% 9,453 $218K New
MLI Mueller Industries Inc. 0.02% 1,967 $218K New
TNL Travel + Leisure Co. 0.02% 3,137 $217K New
MCHI iShares MSCI China ETF 0.02% 3,851 $216K New
CNX CNX Resources Corp. 0.02% 5,601 $216K New
PFF iShares Preferred & Income S 0.02% 7,099 $215K New
JXN Jackson Financial Inc. Class A 0.02% 2,031 $215K New
VRTS Virtus Investment Partners 0.02% 1,598 $215K New
HPQ HP Inc. 0.02% 11,154 $214K New
XLP SS Consumer Staples Sel Sect 0.02% 2,600 $213K New
NEM Newmont Corp. 0.02% 1,962 $212K Reduce -10.5%
SYF Synchrony Financial 0.02% 3,114 $212K New
CPA Copa Holdings SA Class A 0.02% 1,858 $211K Reduce -16.6%
CHTR Charter Communications Inc. Class A 0.02% 977 $211K New
NVGS Navigator Holdings Ltd. 0.02% 10,907 $211K New
GM General Motors Co. 0.02% 2,820 $210K New
LGND Ligand Pharmaceuticals 0.02% 1,049 $209K New
GPK Graphic Packaging Holding Co. 0.02% 21,024 $209K Add +52.2%
FTI Technipfmc PLC 0.02% 3,009 $208K New
OBDC Blue Owl Capital Corp. 0.02% 18,651 $206K New
NOMD Nomad Foods Ltd. 0.02% 21,455 $206K Add +19.8%
AMG Affiliated Managers Group 0.02% 743 $206K New
DINO HF Sinclair Corp. 0.02% 3,269 $204K Reduce -29.1%
BCSF Bain Capital Specialty Finan 0.02% 16,355 $203K Add +61.6%
VCIT Vanguard Int-Term Corporate 0.02% 2,444 $202K No change
KN Knowles Corp. 0.02% 7,867 $202K New
EPD Enterprise Products Partners 0.02% 5,334 $202K New
INCY Incyte Corp. 0.02% 2,142 $202K New
APH Amphenol Corp. Class A 0.02% 1,585 $200K New
AVT Avnet Inc. 0.02% 3,246 $200K New
IHS Ihs Holding Ltd. 0.02% 22,998 $189K Reduce -96.0%
WT Wisdomtree Inc. 0.02% 12,794 $186K New
NAVI Navient Corp. 0.02% 21,493 $176K New
CL Colgate-Palmolive Co. 0.02% 1,989 $170K New
AVAL Grupo Aval Acciones Y Valore 0.02% 35,715 $157K Add +1.6%
STNE Stoneco Ltd. Class A 0.01% 10,053 $142K New
PRGO Perrigo Co. PLC 0.01% 12,729 $137K New
VYX NCR Voyix Corp. 0.01% 21,560 $136K New
TME Tencent Music Entertainm-ADR 0.01% 13,629 $126K New
AVTR Avantor Inc. 0.01% 15,524 $122K New
OGN Organon & Co. 0.01% 19,456 $117K Add +19.7%
T AT&T Inc. 0.01% 3,229 $94K Reduce -81.0%
MOMO Hello Group Inc. -SPN ADR 0.01% 14,736 $85K New
MIN Aberdeen Intermediate Inc. FD 0.01% 28,615 $72K No change
ACP Abrdn Income Credit Strat 0.01% 10,360 $53K No change
QQQ Invesco QQQ Trust Series 1 0.00% 33 $19K No change
KO The Coca-Cola Co. 0.00% 176 $13K New

Options reported separately and not counted above: XLE puts ($19.9M), XLE calls ($19.9M), TTE puts ($13.3M), TTE calls ($13.3M), MSFT puts ($7.4M), MSFT calls ($7.4M), SPY puts ($7.3M), NFLX calls ($4.8M), NFLX puts ($4.8M), QQQ puts ($4.6M), T puts ($4.3M), T calls ($4.3M), and 14 more.

Other holdings (2): bonds, preferreds, convertibles and warrants · $17.8M (not counted above)
SecurityClassShares / PrincipalValueChange
KOSMOS ENERGY LTD (KOS 3.125 03/15/30) NOTE 3.125% 3/1 · principal 15,705,000$12.5MNo change
MARA HOLDINGS INC (MARA 0 03/01/30) NOTE 3/0 · principal 6,000,000$5.3MNew

Total filed on the 13F, all lines: $1.0B.

Portfolio Sells Q4 2025 → Q1 2026
SPY SS SPDR S&P 500 ETF Trust-US Reduce -86.5% 1.71% −13.39
EVRG Evergy Inc. Sold out 0.00% −1.45
DTE DTE Energy Company Sold out 0.00% −1.33
IWF iShares Russell 1000 Growth Reduce -3.7% 7.26% −1.23
CNP Centerpoint Energy Inc. Reduce -83.1% 0.22% −1.06
OGE Oge Energy Corp. Reduce -64.8% 0.57% −1.06
XLV SS Health Care Select Sector Reduce -31.7% 1.33% −1.01
EXC Exelon Corp. Sold out 0.00% −1.01
PNW Pinnacle West Capital Sold out 0.00% −0.89
GOOG Alphabet Inc. Class C Reduce -4.3% 2.15% −0.63
V Visa Inc. Class A Reduce -28.6% 0.72% −0.60
CRWD CrowdStrike Holdings Inc. Class A Reduce -90.5% 0.04% −0.56
EOG EOG Resources Inc. Reduce -94.7% 0.04% −0.55
JPM JPMorgan Chase & Co. Reduce -7.3% 1.50% −0.51
XEL Xcel Energy Inc. Reduce -28.6% 1.06% −0.50
BRK.B Berkshire Hathaway Inc. Class B Reduce -3.9% 2.13% −0.50
IHS Ihs Holding Ltd. Reduce -96.0% 0.02% −0.46
MSFT Microsoft Corp. Reduce -10.2% 0.67% −0.43
PEG Public Service Enterprise GP Reduce -92.4% 0.03% −0.42
SUNC Sunococorp LLC Sold out 0.00% −0.42
AM Antero Midstream Corp. Reduce -94.7% 0.03% −0.40
HIG Hartford Insurance Group Inc. Reduce -66.3% 0.15% −0.36
CNQ Canadian Natural Resources Sold out 0.00% −0.33
CEG Constellation Energy Reduce -3.0% 0.68% −0.32
VGK Vanguard Ftse Europe ETF Reduce -6.1% 2.32% −0.31
DUK Duke Energy Corp. Sold out 0.00% −0.29
DHT DHT Holdings Inc. Sold out 0.00% −0.28
CM Can Imperial BK of Commerce Sold out 0.00% −0.27
VO Vngrd Mrngstr MD-Cap ETF-Usd Reduce -10.0% 1.16% −0.26
BTE Baytex Energy Corp. Sold out 0.00% −0.23
AMLP Alerian MLP ETF Reduce -39.7% 0.21% −0.16
NOW ServiceNow Inc. Sold out 0.00% −0.13
VB Vanguard Most SM-Cap ETF-Usd Reduce -11.8% 0.69% −0.11
EWZ iShares MSCI Brazil ETF Sold out 0.00% −0.10
BNY Bank of New York Mellon Corp. Reduce -20.3% 0.21% −0.08
PGR Progressive Corp. Sold out 0.00% −0.07
VTEB Vanguard Tax-Exempt Bond ETF Reduce -4.5% 0.45% −0.07
TSM Taiwan Semiconductor-SP ADR Reduce -2.5% 1.68% −0.07
VTV Vanguard Mrngstr Val ETF-Aui Sold out 0.00% −0.06
URTH iShares MSCI World ETF Sold out 0.00% −0.06
VGT Vanguard Info Tech ETF Reduce -1.5% 0.59% −0.05
IAU iShares Gold Trust Sold out 0.00% −0.05
ABT Abbott Laboratories Sold out 0.00% −0.05
TAC Transalta Corp. Reduce -9.5% 0.22% −0.04
UBER Uber Technologies Inc. Reduce -20.4% 0.07% −0.04
VZ Verizon Communications Inc. Sold out 0.00% −0.04
DVA Davita Inc. Sold out 0.00% −0.04
L Loews Corp. Sold out 0.00% −0.04
T AT&T Inc. Reduce -81.0% 0.01% −0.04
CCEP Coca-Cola Europacific Partne Sold out 0.00% −0.04

Portfolio Buys Q4 2025 → Q1 2026
VOO Vanguard S&P 500 ETF New 10.31% +10.31
PBR Petroleo Brasileiro-Spon ADR New 1.16% +1.16
ITUB Itau Unibanco H-Spon PRF ADR New 1.11% +1.11
VALE Vale SA-SP ADR New 0.93% +0.93
WTRG Essential Utilities Inc. New 0.87% +0.87
VONG Vanguard Russell 1000 Growth New 0.82% +0.82
AEE Ameren Corporation Add +120.7% 1.44% +0.77
VISN Vistance Networks Inc. New 0.72% +0.72
FE Firstenergy Corp. New 0.71% +0.71
NSC Norfolk Southern Corp. New 0.64% +0.64
NU Nu Holdings Ltd./Cayman Isl-A Add +789.6% 0.73% +0.62
CMS CMS Energy Corp. New 0.54% +0.54
WBS Webster Financial Corp. New 0.48% +0.48
SBS Cia Saneamento Basico DE-ADR New 0.48% +0.48
SQM Quimica Y Minera Chil-SP ADR New 0.47% +0.47
EA Electronic Arts Inc. New 0.46% +0.46
D Dominion Energy Inc. Add +69.8% 1.24% +0.46
ED Consolidated Edison Inc. New 0.45% +0.45
ENIC Enel Chile SA-ADR New 0.42% +0.42
WBD Warner Bros Discovery Inc. New 0.39% +0.39
PCG P G & E Corp. Add +90.9% 0.84% +0.39
KVUE Kenvue Inc. New 0.38% +0.38
PPL PPL Corp. New 0.38% +0.38
ECHO Echostar Corp. Class A New 0.35% +0.35
NVDA Nvidia Corp. Add +38.9% 2.57% +0.33
MELI MercadoLibre Inc. Add +405.8% 0.43% +0.32
LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +142.4% 0.52% +0.27
GGB Gerdau SA -Spon ADR New 0.27% +0.27
B Barrick Mining Corp. New 0.27% +0.27
SLB SLB Ltd. New 0.23% +0.23
MGV Vngrd Mrgstr MG CP VL ETF-Ui Add +10.4% 3.07% +0.22
AEP American Electric Power Add +19.0% 1.21% +0.20
TVA Texas Ventures Acquisition-A New 0.19% +0.19
AR Antero Resources Corp. New 0.19% +0.19
SUZ Suzano SA - Spon ADR New 0.18% +0.18
GLD SPDR Gold Shares Add +15.4% 1.85% +0.18
BBD Banco Bradesco-ADR New 0.18% +0.18
TDAY USA Today Co. Inc. New 0.17% +0.17
GOOGL Alphabet Inc. Class A Add +98.9% 0.44% +0.17
AES AES Corp. New 0.17% +0.17
TXNM TXNM Energy Inc. New 0.16% +0.16
SM SM Energy Co. New 0.15% +0.15
OGS One Gas Inc. Add +21.8% 0.90% +0.15
SU Suncor Energy Inc. New 0.14% +0.14
INSW International Seaways Inc. New 0.14% +0.14
TRP TC Energy Corp. New 0.13% +0.13
TRMD Torm PLC-A New 0.13% +0.13
USHY iShares Broad Usd High Yield Add +72.3% 0.38% +0.13
OXY Occidental Petroleum Corp. Add +255.9% 0.16% +0.13
PAAS Pan American Silver Corp. New 0.13% +0.13

Options Activity Q4 2025 → Q1 2026
HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Sold out 800,000 $64.5Mbefore exit
XLE SS Energy Select Sector put New 325,600 $19.9M
XLE SS Energy Select Sector call New 325,600 $19.9M
TTE Totalenergies SE put New 150,000 $13.3M
TTE Totalenergies SE call New 150,000 $13.3M
MSFT Microsoft Corp. put New 20,000 $7.4M
MSFT Microsoft Corp. call New 20,000 $7.4M
SPY SS SPDR S&P 500 ETF Trust-US put Reduce -51.7% 11,200 $7.3M
BA The Boeing Co. call Sold out 28,300 $6.1Mbefore exit
BA The Boeing Co. put Sold out 28,300 $6.1Mbefore exit
NFLX Netflix Inc. call New 50,000 $4.8M
NFLX Netflix Inc. put New 50,000 $4.8M
QQQ Invesco QQQ Trust Series 1 put Reduce -20.0% 8,000 $4.6M
META Meta Platforms Inc. Class A put Sold out 6,700 $4.4Mbefore exit
META Meta Platforms Inc. Class A call Sold out 6,700 $4.4Mbefore exit
T AT&T Inc. put New 150,000 $4.3M
T AT&T Inc. call New 150,000 $4.3M
GM General Motors Co. call Sold out 51,200 $4.2Mbefore exit
GM General Motors Co. put Sold out 51,200 $4.2Mbefore exit
EOG EOG Resources Inc. call New 22,700 $3.3M
EOG EOG Resources Inc. put New 22,700 $3.3M
QQQ Invesco QQQ Trust Series 1 call Sold out 5,000 $3.1Mbefore exit
SMH Vaneck Semiconductor ETF put Sold out 5,000 $1.8Mbefore exit
PBR Petroleo Brasileiro-Spon ADR put New 84,300 $1.7M
PBR Petroleo Brasileiro-Spon ADR call New 84,300 $1.7M
WBD Warner Bros Discovery Inc. call Sold out 50,000 $1.4Mbefore exit
PG The Procter & Gamble Co. put New 9,600 $1.4M
PG The Procter & Gamble Co. call New 9,600 $1.4M
KO The Coca-Cola Co. put New 9,400 $715K
KO The Coca-Cola Co. call New 9,400 $715K
APP AppLovin Corp. Class A put Sold out 800 $539Kbefore exit
GLD SPDR Gold Shares call Reduce -88.2% 800 $344K
CL Colgate-Palmolive Co. call New 3,700 $315K
CL Colgate-Palmolive Co. put New 3,700 $315K
BRK.B Berkshire Hathaway Inc. Class B put Sold out 600 $302Kbefore exit
BRK.B Berkshire Hathaway Inc. Class B call Sold out 600 $302Kbefore exit
AMGN Amgen Inc. put Sold out 300 $98Kbefore exit
AMGN Amgen Inc. call Sold out 300 $98Kbefore exit

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

Notes & Other Activity Q4 2025 → Q1 2026
MARA HOLDINGS INC (MARA 0 03/01/30) NOTE 3/0 · principal New 6,000,000 $5.3M

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