Deltec Asset Management LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 22, 2025), Deltec Asset Management LLC reported 161 stock positions worth $465.0 million. Its top holding was Alphabet Class A (GOOGL) at 7.0% of the portfolio, followed by Amazon.com (AMZN, 6.6%) and Microsoft (MSFT, 5.6%). Compared with Q4 2024, it opened 23 new positions, sold out of 21, added to 44 and reduced 29. The biggest buy was Dell Technologies -C (DELL, shares +174%) and the biggest sale iShares Bitcoin Trust ETF (IBIT, shares −95%).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001269950
Portfolio Value
$465.0M (Q1 2025)
SEC Filing
0000919574-25-002548 ↗ filed Apr 22, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $507.0M Q1 2024 Q2 2024: $522.8M Q2 2024 Q3 2024: $507.1M Q3 2024 Q4 2024: $505.3M Q4 2024 Q1 2025: $465.0M $465.0M Q1 2025 Q2 2025: $560.5M Q2 2025 Q3 2025: $606.1M Q3 2025 Q4 2025: $603.0M Q4 2025 Q1 2026: $545.3M Q1 2026 Q2 2026: $677.0M Q2 2026

Holdings 161 stocks · $465.0M
GOOGL Alphabet Inc. Class A 7.01% 210,667 $32.6M Add +3.6%
AMZN Amazon.com Inc. 6.60% 161,209 $30.7M Reduce -0.6%
MSFT Microsoft Corp. 5.56% 68,833 $25.8M Add +0.4%
OCUL Ocular Therapeutix Inc. 4.28% 2,716,373 $19.9M Add +3.8%
AVGO Broadcom Inc. 3.98% 110,539 $18.5M Reduce -2.2%
UBER Uber Technologies Inc. 3.77% 240,516 $17.5M Reduce -10.7%
CCL Carnival Corp. 3.45% 821,553 $16.0M Add +9.7%
V Visa Inc. Class A 3.40% 45,115 $15.8M Reduce -0.5%
NVDA Nvidia Corp. 3.34% 143,342 $15.5M Reduce -8.9%
META Meta Platforms Inc. Class A 3.28% 26,490 $15.3M Add +4.4%
EQT Eqt Corp. 2.28% 198,822 $10.6M No change
WMT Walmart Inc. 2.24% 118,593 $10.4M Add +10.5%
XYZ Block Inc. 2.08% 178,250 $9.7M Add +207.3%
DELL Dell Technologies -C 1.99% 101,704 $9.3M Add +174.2%
HD Home Depot Inc. 1.87% 23,769 $8.7M No change
PM Philip Morris International 1.60% 46,764 $7.4M Reduce -2.5%
MA Mastercard Inc. Class A 1.46% 12,398 $6.8M Reduce -0.2%
TSM Taiwan Semiconductor-SP ADR 1.43% 40,067 $6.7M Add +10.5%
CPA Copa Holdings SA Class A 1.40% 70,528 $6.5M Reduce -17.4%
VIST Vista Energy Sab DE CV 1.38% 137,361 $6.4M Add +2.9%
AAPL Apple Inc. 1.37% 28,694 $6.4M Reduce -0.1%
MRVL Marvell Technology Inc. 1.26% 95,539 $5.9M Add +72.0%
FLEX Flex Ltd. 1.17% 164,219 $5.4M Add +10.1%
XLV SS Health Care Select Sector 1.14% 36,280 $5.3M Reduce -0.1%
SPY SS SPDR S&P 500 ETF Trust-US 1.05% 8,753 $4.9M Reduce -0.2%
ON On Semiconductor 1.04% 118,912 $4.8M Add +18.2%
LLY Eli Lilly & Co. 1.02% 5,750 $4.7M No change
BRK.B Berkshire Hathaway Inc. Class B 0.98% 8,578 $4.6M No change
CMG Chipotle Mexican Grill Inc. 0.90% 83,500 $4.2M Add +21.9%
SHEL Shell PLC-ADR 0.90% 57,204 $4.2M No change
EMBJ Embraer SA-Spon ADR 0.87% 87,250 $4.0M Reduce -8.4%
BKNG Booking Holdings Inc. 0.84% 845 $3.9M Add +13.4%
COST Costco Wholesale Corp. 0.71% 3,485 $3.3M No change
TSLA Tesla Inc. 0.67% 12,000 $3.1M New
ETN Eaton Corp. PLC 0.59% 10,100 $2.7M Add +146.3%
GOOG Alphabet Inc. Class C 0.58% 17,286 $2.7M No change
CZR Caesars Entertainment Inc. 0.58% 107,871 $2.7M Reduce -6.9%
MELI MercadoLibre Inc. 0.55% 1,320 $2.6M Reduce -5.7%
MO Altria Group Inc. 0.55% 42,608 $2.6M Reduce -2.3%
ANF Abercrombie & Fitch Co. Class A 0.50% 30,700 $2.3M New
IGV iShares Expanded Tech-Softwa 0.49% 25,700 $2.3M Add +38.9%
URA Global X Uranium ETF 0.45% 90,750 $2.1M Add +49.4%
FNA Paragon 28 Inc. 0.43% 152,261 $2.0M New
RSP Invesco S&P 500 Equal Weight 0.42% 11,240 $1.9M Add +33.8%
HDB HDFC Bank Ltd.-ADR 0.38% 26,600 $1.8M Add +6.0%
CRM Salesforce Inc. 0.38% 6,500 $1.7M No change
SMLR Semler Scientific Inc. 0.37% 47,600 $1.7M Add +4.4%
JPM JPMorgan Chase & Co. 0.37% 6,925 $1.7M Add +259.7%
TDG Transdigm Group Inc. 0.36% 1,217 $1.7M No change
YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA 0.36% 47,500 $1.7M Add +251.8%
XLI SS Industrial Select Sector 0.35% 12,250 $1.6M No change
PH Parker Hannifin Corp. 0.34% 2,627 $1.6M Add +42.2%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.34% 13,100 $1.6M No change
BBAR Bbva Argentina SA-ADR filed as BANCO BBVA ARGENTINA S A 0.33% 85,000 $1.5M Add +43.1%
LPAA Launch One Acquisition Corp. 0.33% 150,000 $1.5M No change
MDLZ Mondelez International Inc. Class A 0.33% 22,431 $1.5M No change
LPBB Launch Two Acquisition Class A 0.33% 150,000 $1.5M No change
ACGL Arch Capital Group Ltd. 0.31% 14,750 $1.4M No change
BATRA Atlanta Braves Holdings in-A 0.30% 31,847 $1.4M No change
ARCO Arcos Dorados Holdings Inc. Class A 0.29% 168,538 $1.4M Add +1.2%
NCLH Norwegian Cruise Line Holdin 0.28% 68,300 $1.3M New
WH Wyndham Hotels & Resorts Inc. 0.27% 14,000 $1.3M No change
SPSM SS SPDR P S&P 600 Small Cap 0.27% 31,000 $1.3M No change
IMSR Terrestrial Energy Inc. filed as HCM II ACQUISITION CORP 0.26% 115,000 $1.2M Reduce -23.3%
DAL Delta Air Lines Inc. 0.26% 27,500 $1.2M New
VNQ Vanguard Real Estate ETF 0.24% 12,450 $1.1M Reduce -47.9%
IBN Icici Bank Ltd.-Spon ADR 0.24% 35,500 $1.1M Add +12.7%
ARES ACQUISITION CORP II 0.24% 100,000 $1.1M No change
C Citigroup Inc. 0.23% 15,125 $1.1M New
VNM Vaneck Vietnam ETF 0.23% 86,000 $1.1M Add +13.2%
DESP Despegar.com Corp. 0.23% 56,000 $1.1M Reduce -23.3%
INFY Infosys Ltd.-SP ADR 0.23% 57,500 $1.0M Add +4.5%
AXIAY Axia Energia-ADR filed as CENTRAIS ELETRICAS BRASILEIR 0.22% 145,500 $1.0M Add +20.8%
IBAC Ib Acquisition Corp. 0.22% 100,000 $1.0M No change
CUB Lionheart Holdings Class A 0.22% 100,000 $1.0M No change
ALF Centurion Acquisition Corp. 0.22% 100,000 $1.0M No change
TONT Graf Global Corp. Class A 0.22% 100,000 $1.0M No change
MACI Melar Acquisition Corp. I-A 0.22% 100,000 $1.0M No change
SIMA Sim Acquisition Corp. I-A 0.22% 100,000 $1.0M No change
VACH Voyager Acquisition Corp. 0.22% 100,000 $1.0M No change
VCIC Vine Hill Capital Class A 0.22% 100,000 $1.0M No change
MCK McKesson Corp. 0.22% 1,500 $1.0M No change
USMV iShares MSCI USA Min Vol Fac 0.22% 10,750 $1.0M New
KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC 0.20% 17,500 $947K Add +7.4%
PBR Petroleo Brasileiro-Spon ADR 0.20% 65,000 $932K No change
AEROVATE THERAPEUTICS INC 0.20% 361,804 $908K Add +86.4%
GBTC Grayscale Bitcoin Trust ETF 0.19% 13,350 $870K Reduce -2.2%
CCIX Churchill Capital Corp. Ix 0.17% 75,300 $812K No change
DKNG Draftkings Inc. Class A 0.17% 24,000 $797K Reduce -87.7%
INDA iShares MSCI India ETF 0.17% 15,300 $788K No change
CDNS Cadence Design SYS Inc. 0.16% 3,000 $763K No change
SYK Stryker Corp. 0.16% 1,990 $741K New
SMH Vaneck Semiconductor ETF 0.16% 3,500 $740K No change
ITUB Itau Unibanco H-Spon PRF ADR 0.16% 133,650 $735K Add +15.7%
GPRK Geopark Ltd. 0.16% 89,500 $723K Add +4.7%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.15% 7,158 $706K No change
CVX Chevron Corp. 0.15% 4,081 $683K Reduce -36.0%
SIMO Silicon Motion Technol-ADR 0.15% 13,500 $683K Add +78.8%
BSX Boston Scientific Corp. 0.14% 6,500 $656K New
VLOS Velos Acquisition I Corp. filed as M3BRIGADE ACQUISITION V CORP 0.14% 63,150 $645K No change

Show all 161 holdings

Other holdings (3): bonds, preferreds, convertibles and warrants · $265K (not counted above)
SecurityClassShares / PrincipalValueChange
EXEEL Chesapeake Energy Corp. -CW26 *W EXP 02/09/202 2,500$252KNo change
VGASW Cenaq Energy Corp. Class A -CW27 *W EXP 02/15/202 60,000$12KNew
MNYWW Moneyhero Ltd.-28 *W EXP 09/13/202 23,200$821No change

Total filed on the 13F, all lines: $465.3M.

Portfolio Sells Q4 2024 → Q1 2025
IBIT iShares Bitcoin Trust ETF Reduce -95.3% 0.12% −2.49
DKNG Draftkings Inc. Class A Reduce -87.7% 0.17% −1.27
AVGO Broadcom Inc. Reduce -2.2% 3.98% −1.21
MU Micron Technology Inc. Sold out 0.00% −1.18
NVDA Nvidia Corp. Reduce -8.9% 3.34% −0.84
IQV Iqvia Holdings Inc. Sold out 0.00% −0.77
SLV iShares Silver Trust Sold out 0.00% −0.50
AMZN Amazon.com Inc. Reduce -0.6% 6.60% −0.44
QCOM Qualcomm Inc. Sold out 0.00% −0.35
PSTX Poseida Therapeutics Inc. Sold out 0.00% −0.28
IBB iShares Biotechnology ETF Sold out 0.00% −0.20
SHW The Sherwin-Williams Co. Reduce -75.0% 0.08% −0.19
RSG Republic Services Inc. Sold out 0.00% −0.19
CZR Caesars Entertainment Inc. Reduce -6.9% 0.58% −0.19
VNQ Vanguard Real Estate ETF Reduce -47.9% 0.24% −0.18
QQQ Invesco QQQ Trust Series 1 Sold out 0.00% −0.17
CCIR Cohen Circle Acquisitio Class A Reduce -70.0% 0.07% −0.13
ILMN Illumina Inc. Sold out 0.00% −0.12
AMGN Amgen Inc. Sold out 0.00% −0.11
QXO Qxo Inc. Reduce -76.2% 0.03% −0.10
ROP Roper Technologies Inc. Sold out 0.00% −0.10
ADBE Adobe Inc. Sold out 0.00% −0.09
FIX Comfort Systems USA Inc. Sold out 0.00% −0.08
CPA Copa Holdings SA Class A Reduce -17.4% 1.40% −0.08
ACNT Ascent Industries Co. Reduce -72.0% 0.04% −0.07
RVNC Revance Therapeutics Inc. Sold out 0.00% −0.06
AAPL Apple Inc. Reduce -0.1% 1.37% −0.05
DESP Despegar.com Corp. Reduce -23.3% 0.23% −0.05
MRK Merck & Co. Inc. Sold out 0.00% −0.04
IMSR Terrestrial Energy Inc. Reduce -23.3% 0.26% −0.04
CVX Chevron Corp. Reduce -36.0% 0.15% −0.04
VALE Vale SA-SP ADR Sold out 0.00% −0.04
STCN Steel Connect Inc. Sold out 0.00% −0.03
MRNS Marinus Pharmaceuticals Inc. Sold out 0.00% −0.02
ALTM Arcadium Lithium PLC Sold out 0.00% −0.01
GBTC Grayscale Bitcoin Trust ETF Reduce -2.2% 0.19% −0.01
KRON Kronos Bio Inc. Reduce -25.0% 0.03% −0.01
XERS Xeris Biopharma Holdings Inc. Sold out 0.00% −0.01
ANGI Angi Inc. Sold out 0.00% −0.01
LUMENT FINANCE TRUST INC Reduce -12.2% 0.11% −0.00
GTX Garrett Motion Inc. Reduce -1.1% 0.13% −0.00
SPY SS SPDR S&P 500 ETF Trust-US Reduce -0.2% 1.05% +0.04
MELI MercadoLibre Inc. Reduce -5.7% 0.55% +0.08
MO Altria Group Inc. Reduce -2.3% 0.55% +0.10
XLV SS Health Care Select Sector Reduce -0.1% 1.14% +0.15
MA Mastercard Inc. Class A Reduce -0.2% 1.46% +0.17
EMBJ Embraer SA-Spon ADR Reduce -8.4% 0.87% +0.18
PM Philip Morris International Reduce -2.5% 1.60% +0.45
UBER Uber Technologies Inc. Reduce -10.7% 3.77% +0.55
V Visa Inc. Class A Reduce -0.5% 3.40% +0.56

Portfolio Buys Q4 2024 → Q1 2025
DELL Dell Technologies -C Add +174.2% 1.99% +1.15
XYZ Block Inc. Add +207.3% 2.08% +1.11
TSLA Tesla Inc. New 0.67% +0.67
ANF Abercrombie & Fitch Co. Class A New 0.50% +0.50
FNA Paragon 28 Inc. New 0.43% +0.43
META Meta Platforms Inc. Class A Add +4.4% 3.28% +0.34
ETN Eaton Corp. PLC Add +146.3% 0.59% +0.32
WMT Walmart Inc. Add +10.5% 2.24% +0.32
NCLH Norwegian Cruise Line Holdin New 0.28% +0.28
JPM JPMorgan Chase & Co. Add +259.7% 0.37% +0.27
DAL Delta Air Lines Inc. New 0.26% +0.26
YPF YPF S.A.-Sponsored ADR Add +251.8% 0.36% +0.24
C Citigroup Inc. New 0.23% +0.23
USMV iShares MSCI USA Min Vol Fac New 0.22% +0.22
SYK Stryker Corp. New 0.16% +0.16
BSX Boston Scientific Corp. New 0.14% +0.14
RSP Invesco S&P 500 Equal Weight Add +33.8% 0.42% +0.13
URA Global X Uranium ETF Add +49.4% 0.45% +0.13
IGV iShares Expanded Tech-Softwa Add +38.9% 0.49% +0.13
GS Goldman Sachs Group Inc. New 0.12% +0.12
PH Parker Hannifin Corp. Add +42.2% 0.34% +0.11
CEPO Cantor Equity Partners I-A New 0.11% +0.11
FERAU Fifth Era Acquisition Corp. I New 0.11% +0.11
BBAR Bbva Argentina SA-ADR Add +43.1% 0.33% +0.11
JBL Jabil Inc. New 0.11% +0.11
BKNG Booking Holdings Inc. Add +13.4% 0.84% +0.10
FLUT Flutter Entertainment PLC-Di New 0.10% +0.10
AEROVATE THERAPEUTICS INC Add +86.4% 0.20% +0.09
AXIAY Axia Energia-ADR Add +20.8% 0.22% +0.09
CMG Chipotle Mexican Grill Inc. Add +21.9% 0.90% +0.08
SCCO Southern Copper Corp. New 0.07% +0.07
PI Impinj Inc. New 0.07% +0.07
SIMO Silicon Motion Technol-ADR Add +78.8% 0.15% +0.07
HDB HDFC Bank Ltd.-ADR Add +6.0% 0.38% +0.06
VNM Vaneck Vietnam ETF Add +13.2% 0.23% +0.06
YMM Full Truck Alliance -SPN ADR New 0.06% +0.06
BABA Alibaba Group Holding-SP ADR Add +6.1% 0.12% +0.05
IBN Icici Bank Ltd.-Spon ADR Add +12.7% 0.24% +0.05
ARCO Arcos Dorados Holdings Inc. Class A Add +1.2% 0.29% +0.05
MRVL Marvell Technology Inc. Add +72.0% 1.26% +0.05
PAM Pampa Energia SA-Spon ADR New 0.05% +0.05
KWEB Kranesh Csi China Internet New 0.04% +0.04
ITUB Itau Unibanco H-Spon PRF ADR Add +15.7% 0.16% +0.04
OPTINOSE INC New 0.04% +0.04
JD Jd.com Inc.-ADR New 0.04% +0.04
FLEX Flex Ltd. Add +10.1% 1.17% +0.03
GGAL Grupo Financiero Galicia-ADR Add +62.1% 0.08% +0.03
GRAB Grab Holdings Ltd. Class A Add +31.3% 0.10% +0.03
TCOM Trip.com Group Ltd.-ADR Add +38.3% 0.09% +0.03
CPNG Coupang Inc. Add +34.8% 0.07% +0.02

Notes & Other Activity Q4 2024 → Q1 2025
VGASW Cenaq Energy Corp. Class A -CW27 *W EXP 02/15/202 New 60,000 $12K

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 258$677.0MGOOGL, AMZN, NVDA, AVGO, DASH
Q1 2026 230$545.3MGOOGL, AMZN, AVGO, NVDA, MSFT
Q4 2025 213$603.0MGOOGL, AVGO, AMZN, MSFT, NVDA
Q3 2025 202$606.1MGOOGL, AMZN, OCUL, MSFT, NVDA
Q2 2025 186$560.5MGOOGL, AMZN, MSFT, AVGO, OCUL
Q1 2025 161$465.0MGOOGL, AMZN, MSFT, OCUL, AVGO
Q4 2024 159$505.3MGOOGL, AMZN, MSFT, AVGO, OCUL
Q3 2024 153$507.1MAMZN, GOOGL, MSFT, UBER, OCUL
Q2 2024 152$522.8MGOOGL, AMZN, MSFT, UBER, NVDA
Q1 2024 152$507.0MAMZN, GOOGL, MSFT, UBER, OCUL