Deltec Asset Management LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 24, 2025), Deltec Asset Management LLC reported 202 stock positions worth $606.1 million. Its top holding was Alphabet Class A (GOOGL) at 7.3% of the portfolio, followed by Amazon.com (AMZN, 5.6%) and Ocular Therapeutix (OCUL, 5.3%). Compared with Q2 2025, it opened 38 new positions, sold out of 22, added to 26 and reduced 41. The biggest buy was Norwegian Cruise Line Holdin (NCLH, shares +59%) and the biggest sale Carnival (CCL, shares −32%).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001269950
- Portfolio Value
- $606.1M (Q3 2025)
- SEC Filing
- 0000919574-25-006250 ↗ filed Oct 24, 2025
Holdings Value
Holdings 202 stocks · $606.1M
| GOOGL Alphabet Inc. Class A | 7.29% | 181,756 | $44.2M | Reduce -12.4% |
| AMZN Amazon.com Inc. | 5.60% | 154,564 | $33.9M | Reduce -6.8% |
| OCUL Ocular Therapeutix Inc. | 5.33% | 2,762,459 | $32.3M | Reduce -1.2% |
| MSFT Microsoft Corp. | 5.26% | 61,498 | $31.9M | Reduce -0.6% |
| NVDA Nvidia Corp. | 5.18% | 168,320 | $31.4M | Add +4.3% |
| AVGO Broadcom Inc. | 5.18% | 95,123 | $31.4M | Reduce -0.2% |
| META Meta Platforms Inc. Class A | 3.17% | 26,190 | $19.2M | Reduce -0.1% |
| UBER Uber Technologies Inc. | 2.92% | 180,708 | $17.7M | Reduce -14.0% |
| CCL Carnival Corp. | 2.80% | 586,460 | $17.0M | Reduce -31.7% |
| V Visa Inc. Class A | 2.57% | 45,555 | $15.6M | Add +1.0% |
| URA Global X Uranium ETF | 2.22% | 282,350 | $13.5M | No change |
| NCLH Norwegian Cruise Line Holdin | 1.99% | 490,300 | $12.1M | Add +59.0% |
| WMT Walmart Inc. | 1.94% | 114,267 | $11.8M | Reduce -0.7% |
| TSM Taiwan Semiconductor-SP ADR | 1.82% | 39,567 | $11.1M | Reduce -1.3% |
| HD Home Depot Inc. | 1.59% | 23,767 | $9.6M | No change |
| TSLA Tesla Inc. | 1.51% | 20,615 | $9.2M | Add +29.0% |
| FLEX Flex Ltd. | 1.49% | 155,419 | $9.0M | Add +12.3% |
| EQT Eqt Corp. | 1.43% | 159,102 | $8.7M | Add +2.6% |
| PM Philip Morris International | 1.21% | 45,261 | $7.3M | Reduce -1.4% |
| MA Mastercard Inc. Class A | 1.16% | 12,364 | $7.0M | Reduce -0.2% |
| AAPL Apple Inc. | 1.11% | 26,350 | $6.7M | Reduce -8.0% |
| LLY Eli Lilly & Co. | 1.10% | 8,750 | $6.7M | Add +29.6% |
| AR Antero Resources Corp. | 1.09% | 197,000 | $6.6M | Add +91.3% |
| IGV iShares Expanded Tech-Softwa | 1.04% | 54,700 | $6.3M | Reduce -11.3% |
| IBIT iShares Bitcoin Trust ETF | 1.00% | 93,650 | $6.1M | Add +77.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.85% | 7,755 | $5.2M | Reduce -6.5% |
| EMBJ Embraer SA-Spon ADR | 0.84% | 84,500 | $5.1M | Add +3.0% |
| ETHA iShares Ethereum Trust ETF | 0.82% | 158,500 | $5.0M | New |
| VIST Vista Energy Sab DE CV | 0.81% | 143,061 | $4.9M | Add +6.5% |
| CPA Copa Holdings SA Class A | 0.77% | 39,400 | $4.7M | Reduce -33.6% |
| XLV SS Health Care Select Sector | 0.76% | 33,110 | $4.6M | Reduce -8.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.71% | 8,578 | $4.3M | No change |
| BSX Boston Scientific Corp. | 0.69% | 42,800 | $4.2M | Add +51.2% |
| SHEL Shell PLC-ADR | 0.68% | 57,204 | $4.1M | No change |
| GOOG Alphabet Inc. Class C | 0.67% | 16,681 | $4.1M | Reduce -3.5% |
| MNKD Mannkind Corp. | 0.64% | 723,500 | $3.9M | New |
| CSCO Cisco Systems Inc. | 0.63% | 55,946 | $3.8M | Reduce -0.9% |
| ETN Eaton Corp. PLC | 0.62% | 10,100 | $3.8M | No change |
| CMG Chipotle Mexican Grill Inc. | 0.59% | 90,600 | $3.6M | Add +32.6% |
| SMLR Semler Scientific Inc. | 0.55% | 110,932 | $3.3M | Add +9.9% |
| MRVL Marvell Technology Inc. | 0.54% | 39,015 | $3.3M | Reduce -56.7% |
| COST Costco Wholesale Corp. | 0.53% | 3,485 | $3.2M | No change |
| BTU Peabody Energy Corp. | 0.53% | 121,426 | $3.2M | New |
| MELI MercadoLibre Inc. | 0.51% | 1,335 | $3.1M | Add +9.9% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.50% | 21,100 | $3.0M | No change |
| MTUM iShares MSCI USA Momentum Fa | 0.48% | 11,300 | $2.9M | No change |
| MO Altria Group Inc. | 0.46% | 42,217 | $2.8M | Reduce -0.1% |
| QXO Qxo Inc. | 0.42% | 134,100 | $2.6M | Add +283.1% |
| JPM JPMorgan Chase & Co. | 0.36% | 6,925 | $2.2M | No change |
| JBL Jabil Inc. | 0.36% | 10,000 | $2.2M | Add +42.9% |
| PH Parker Hannifin Corp. | 0.33% | 2,627 | $2.0M | No change |
| XLI SS Industrial Select Sector | 0.31% | 12,250 | $1.9M | No change |
| SPSM SS SPDR P S&P 600 Small Cap | 0.30% | 39,830 | $1.8M | Add +28.5% |
| CART Maplebear Inc. | 0.30% | 50,000 | $1.8M | New |
| C Citigroup Inc. | 0.29% | 17,605 | $1.8M | Reduce -2.9% |
| RSP Invesco S&P 500 Equal Weight | 0.29% | 9,317 | $1.8M | Reduce -17.1% |
| HDB HDFC Bank Ltd.-ADR | 0.27% | 48,200 | $1.6M | Reduce -2.0% |
| LPBB Launch Two Acquisition Class A | 0.26% | 150,000 | $1.6M | No change |
| VNM Vaneck Vietnam ETF | 0.25% | 86,000 | $1.5M | No change |
| UNH Unitedhealth Group Inc. | 0.25% | 4,420 | $1.5M | Reduce -31.1% |
| GS Goldman Sachs Group Inc. | 0.25% | 1,900 | $1.5M | No change |
| SZZL Sizzle Acquisition Corp. Class A | 0.25% | 150,000 | $1.5M | No change |
| SOUL Soulpower Acquisition Co. Class A | 0.25% | 150,000 | $1.5M | No change |
| ORLY O'reilly Automotive Inc. | 0.25% | 13,890 | $1.5M | No change |
| KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC | 0.24% | 17,500 | $1.5M | Add +2.9% |
| BATRA Atlanta Braves Holdings in-A | 0.24% | 31,847 | $1.4M | No change |
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 0.24% | 59,500 | $1.4M | Reduce -2.5% |
| AXIAY Axia Energia-ADR filed as CENTRAIS ELETRICAS BRASILEIR | 0.24% | 145,500 | $1.4M | No change |
| MTSI Macom Technology Solutions H | 0.24% | 11,480 | $1.4M | New |
| MDLZ Mondelez International Inc. Class A | 0.23% | 22,402 | $1.4M | Reduce -0.1% |
| SYK Stryker Corp. | 0.23% | 3,690 | $1.4M | Add +37.2% |
| IMSR Terrestrial Energy Inc. filed as HCM II ACQUISITION CORP | 0.20% | 75,000 | $1.2M | Reduce -25.0% |
| SPGI S&P Global Inc. | 0.20% | 2,450 | $1.2M | No change |
| GBTC Grayscale Bitcoin Trust ETF | 0.20% | 13,250 | $1.2M | No change |
| DAL Delta Air Lines Inc. | 0.19% | 20,700 | $1.2M | Add +93.5% |
| BKNG Booking Holdings Inc. | 0.19% | 211 | $1.1M | No change |
| VNQ Vanguard Real Estate ETF | 0.19% | 12,450 | $1.1M | No change |
| ARCO Arcos Dorados Holdings Inc. Class A | 0.19% | 166,400 | $1.1M | No change |
| WH Wyndham Hotels & Resorts Inc. | 0.18% | 14,000 | $1.1M | No change |
| IBN Icici Bank Ltd.-Spon ADR | 0.18% | 35,500 | $1.1M | No change |
| VCIC Vine Hill Capital Class A | 0.18% | 100,000 | $1.1M | No change |
| IBAC Ib Acquisition Corp. | 0.17% | 100,000 | $1.1M | No change |
| ALF Centurion Acquisition Corp. | 0.17% | 100,000 | $1.1M | No change |
| TONT Graf Global Corp. Class A | 0.17% | 100,000 | $1.1M | No change |
| SIMA Sim Acquisition Corp. I-A | 0.17% | 100,000 | $1.1M | No change |
| CUB Lionheart Holdings Class A | 0.17% | 100,000 | $1.1M | No change |
| LPAA Launch One Acquisition Corp. | 0.17% | 100,000 | $1.1M | No change |
| MACI Melar Acquisition Corp. I-A | 0.17% | 100,000 | $1.1M | No change |
| VACH Voyager Acquisition Corp. | 0.17% | 100,000 | $1.0M | No change |
| JENA Jena Acquisition Corp. II - A | 0.17% | 100,000 | $1.0M | No change |
| CHAC Crane Harbor Acqu Corp. Class A | 0.17% | 100,000 | $1.0M | No change |
| TACH Titan Acquisition Corp. Class A | 0.17% | 100,000 | $1.0M | No change |
| OTGAU Otg Acquisition Corp. I | 0.17% | 100,000 | $1.0M | New |
| EMISU Emmis Acquisition Corp. | 0.16% | 100,000 | $999K | New |
| QQQ Invesco QQQ Trust Series 1 | 0.16% | 1,651 | $991K | No change |
| SNPS Synopsys Inc. | 0.16% | 2,000 | $987K | New |
| ITUB Itau Unibanco H-Spon PRF ADR | 0.16% | 133,650 | $981K | No change |
| BABA Alibaba Group Holding-SP ADR | 0.16% | 5,325 | $952K | Reduce -4.5% |
| INFY Infosys Ltd.-SP ADR | 0.15% | 57,500 | $936K | No change |
| ISRG Intuitive Surgical Inc. | 0.15% | 2,000 | $894K | New |
Other holdings (4): bonds, preferreds, convertibles and warrants · $258K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| EXEEL Chesapeake Energy Corp. -CW26 | *W EXP 02/09/202 | 2,500 | $242K | No change |
| VGASW Cenaq Energy Corp. Class A -CW27 | *W EXP 02/15/202 | 70,000 | $7K | No change |
| SOCAW Solarius Capital Acqui -30 | *W EXP 07/10/203 | 25,000 | $6K | New |
| MNYWW Moneyhero Ltd.-28 | *W EXP 09/13/202 | 23,200 | $3K | No change |
Total filed on the 13F, all lines: $606.3M.
Portfolio Sells Q2 2025 → Q3 2025
| CCL Carnival Corp. | Reduce -31.7% | 2.80% | −1.51 |
| AMZN Amazon.com Inc. | Reduce -6.8% | 5.60% | −0.89 |
| XYZ Block Inc. | Sold out | 0.00% | −0.79 |
| MRVL Marvell Technology Inc. | Reduce -56.7% | 0.54% | −0.70 |
| UBER Uber Technologies Inc. | Reduce -14.0% | 2.92% | −0.58 |
| CRM Salesforce Inc. | Sold out | 0.00% | −0.46 |
| CPA Copa Holdings SA Class A | Reduce -33.6% | 0.77% | −0.39 |
| CZR Caesars Entertainment Inc. | Sold out | 0.00% | −0.34 |
| ARES ACQUISITION CORP II | Sold out | 0.00% | −0.30 |
| PM Philip Morris International | Reduce -1.4% | 1.21% | −0.28 |
| META Meta Platforms Inc. Class A | Reduce -0.1% | 3.17% | −0.28 |
| LEN Lennar Corp. Class A | Sold out | 0.00% | −0.27 |
| ACGL Arch Capital Group Ltd. | Sold out | 0.00% | −0.24 |
| MSFT Microsoft Corp. | Reduce -0.6% | 5.26% | −0.23 |
| ANF Abercrombie & Fitch Co. Class A | Sold out | 0.00% | −0.22 |
| TOL Toll Brothers Inc. | Sold out | 0.00% | −0.20 |
| IGV iShares Expanded Tech-Softwa | Reduce -11.3% | 1.04% | −0.17 |
| DKNG Draftkings Inc. Class A | Sold out | 0.00% | −0.16 |
| BBAR Bbva Argentina SA-ADR | Reduce -2.5% | 0.11% | −0.13 |
| AON Aon PLC Class A | Sold out | 0.00% | −0.13 |
| XLV SS Health Care Select Sector | Reduce -8.1% | 0.76% | −0.11 |
| UNH Unitedhealth Group Inc. | Reduce -31.1% | 0.25% | −0.11 |
| NTAP Netapp Inc. | Sold out | 0.00% | −0.10 |
| YPF YPF S.A.-Sponsored ADR | Reduce -2.5% | 0.24% | −0.10 |
| TRMB Trimble Inc. | Sold out | 0.00% | −0.10 |
| NOW ServiceNow Inc. | Sold out | 0.00% | −0.10 |
| ELEV Elevation Oncology Inc. | Sold out | 0.00% | −0.09 |
| MA Mastercard Inc. Class A | Reduce -0.2% | 1.16% | −0.08 |
| RSP Invesco S&P 500 Equal Weight | Reduce -17.1% | 0.29% | −0.07 |
| CSCO Cisco Systems Inc. | Reduce -0.9% | 0.63% | −0.07 |
| HDB HDFC Bank Ltd.-ADR | Reduce -2.0% | 0.27% | −0.06 |
| WMT Walmart Inc. | Reduce -0.7% | 1.94% | −0.06 |
| APP AppLovin Corp. Class A | Sold out | 0.00% | −0.06 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -6.5% | 0.85% | −0.06 |
| INDA iShares MSCI India ETF | Reduce -21.1% | 0.13% | −0.06 |
| GPRK Geopark Ltd. | Reduce -16.8% | 0.13% | −0.04 |
| VIGL Vigil Neuroscience Inc. | Sold out | 0.00% | −0.04 |
| CCIR Cohen Circle Acquisitio Class A | Sold out | 0.00% | −0.04 |
| MDLZ Mondelez International Inc. Class A | Reduce -0.1% | 0.23% | −0.04 |
| INTU Intuit Inc. | Sold out | 0.00% | −0.04 |
| TXN Texas Instruments Inc. | Sold out | 0.00% | −0.04 |
| CPNG Coupang Inc. | Reduce -26.8% | 0.08% | −0.03 |
| BAP Credicorp Ltd. | Reduce -32.5% | 0.07% | −0.02 |
| SIMO Silicon Motion Technol-ADR | Reduce -45.0% | 0.04% | −0.02 |
| CEPO Cantor Equity Partners I-A | Reduce -14.3% | 0.05% | −0.02 |
| WB Weibo Corp.-Spon ADR | Sold out | 0.00% | −0.02 |
| GTX Garrett Motion Inc. | Reduce -30.0% | 0.08% | −0.02 |
| BIDU Baidu Inc. - Spon ADR | Reduce -42.9% | 0.04% | −0.01 |
| TSBX Turnstone Biologics Corp. | Sold out | 0.00% | −0.01 |
| IQ Iqiyi Inc.-ADR | Sold out | 0.00% | −0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| NCLH Norwegian Cruise Line Holdin | Add +59.0% | 1.99% | +0.88 |
| ETHA iShares Ethereum Trust ETF | New | 0.82% | +0.82 |
| MNKD Mannkind Corp. | New | 0.64% | +0.64 |
| NVDA Nvidia Corp. | Add +4.3% | 5.18% | +0.63 |
| TSLA Tesla Inc. | Add +29.0% | 1.51% | +0.61 |
| BTU Peabody Energy Corp. | New | 0.53% | +0.53 |
| IBIT iShares Bitcoin Trust ETF | Add +77.9% | 1.00% | +0.43 |
| AR Antero Resources Corp. | Add +91.3% | 1.09% | +0.35 |
| CART Maplebear Inc. | New | 0.30% | +0.30 |
| QXO Qxo Inc. | Add +283.1% | 0.42% | +0.29 |
| FLEX Flex Ltd. | Add +12.3% | 1.49% | +0.25 |
| MTSI Macom Technology Solutions H | New | 0.24% | +0.24 |
| OTGAU Otg Acquisition Corp. I | New | 0.17% | +0.17 |
| EMISU Emmis Acquisition Corp. | New | 0.16% | +0.16 |
| LLY Eli Lilly & Co. | Add +29.6% | 1.10% | +0.16 |
| SNPS Synopsys Inc. | New | 0.16% | +0.16 |
| ISRG Intuitive Surgical Inc. | New | 0.15% | +0.15 |
| BSX Boston Scientific Corp. | Add +51.2% | 0.69% | +0.15 |
| SCPH Scpharmaceuticals Inc. | New | 0.14% | +0.14 |
| EQIX Equinix Inc. | New | 0.14% | +0.14 |
| MAR Marriott International Class A | New | 0.14% | +0.14 |
| DAL Delta Air Lines Inc. | Add +93.5% | 0.19% | +0.10 |
| RBLX Roblox Corp. Class A | New | 0.10% | +0.10 |
| COHR Coherent Corp. | New | 0.09% | +0.09 |
| VRT Vertiv Holdings Co. Class A | New | 0.09% | +0.09 |
| JBL Jabil Inc. | Add +42.9% | 0.36% | +0.09 |
| ROP Roper Technologies Inc. | New | 0.08% | +0.08 |
| SOCA Solarius Capital Acquis Class A | New | 0.08% | +0.08 |
| DMIIU Drugs Made in America Acquis | New | 0.08% | +0.08 |
| RSG Republic Services Inc. | New | 0.08% | +0.08 |
| FICO Fair Isaac Corp. | New | 0.07% | +0.07 |
| SPSM SS SPDR P S&P 600 Small Cap | Add +28.5% | 0.30% | +0.07 |
| TEAM Atlassian Corp. Class A | New | 0.07% | +0.07 |
| FCX Freeport-McMoran Inc. | New | 0.06% | +0.06 |
| AJG Arthur J Gallagher & Co. | New | 0.06% | +0.06 |
| MGRM Monogram Technologies Inc. | New | 0.06% | +0.06 |
| MURA Mural Oncology PLC | New | 0.06% | +0.06 |
| TBBB BBB Foods Inc. Class A | New | 0.06% | +0.06 |
| BMA Banco Macro SA-ADR | New | 0.05% | +0.05 |
| GRNY Fundstr Gran SH US LRG Cap | New | 0.04% | +0.04 |
| MBVIU M3-Brigade Acquisition Vi Co. | New | 0.04% | +0.04 |
| SPEG Silver Pegasus Acquisition-A | New | 0.04% | +0.04 |
| AEXA American Exceptionalism Class A | New | 0.04% | +0.04 |
| SYK Stryker Corp. | Add +37.2% | 0.23% | +0.04 |
| RKT Rocket Cos Inc. Class A | New | 0.03% | +0.03 |
| EVAC Eqv Ventures Acquisition C-A | New | 0.03% | +0.03 |
| LATAU Galata Acquisition Corp. II | New | 0.02% | +0.02 |
| JBS JBS NV-A | Add +25.8% | 0.11% | +0.02 |
| BLZRU Trailblazer Acquisition Corp. | New | 0.02% | +0.02 |
| CEPF Cantor Equity Partners Class A | New | 0.02% | +0.02 |
Notes & Other Activity Q2 2025 → Q3 2025
| RDAGW Republic Digital Acqu - 30 | *W EXP 05/01/203 | Sold out | 25,000 | $16Kbefore exit |
| FACWW Cartesian Growth Corp. -30 | *W EXP 05/02/203 | Sold out | 36,150 | $10Kbefore exit |
| SOCAW Solarius Capital Acqui -30 | *W EXP 07/10/203 | New | 25,000 | $6K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 258 | $677.0M | GOOGL, AMZN, NVDA, AVGO, DASH |
| Q1 2026 | 230 | $545.3M | GOOGL, AMZN, AVGO, NVDA, MSFT |
| Q4 2025 | 213 | $603.0M | GOOGL, AVGO, AMZN, MSFT, NVDA |
| Q3 2025 | 202 | $606.1M | GOOGL, AMZN, OCUL, MSFT, NVDA |
| Q2 2025 | 186 | $560.5M | GOOGL, AMZN, MSFT, AVGO, OCUL |
| Q1 2025 | 161 | $465.0M | GOOGL, AMZN, MSFT, OCUL, AVGO |
| Q4 2024 | 159 | $505.3M | GOOGL, AMZN, MSFT, AVGO, OCUL |
| Q3 2024 | 153 | $507.1M | AMZN, GOOGL, MSFT, UBER, OCUL |
| Q2 2024 | 152 | $522.8M | GOOGL, AMZN, MSFT, UBER, NVDA |
| Q1 2024 | 152 | $507.0M | AMZN, GOOGL, MSFT, UBER, OCUL |