INCA Investments LLC
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 5, 2024), INCA Investments LLC reported 10 stock positions worth $236.4 million. Its top holding was Grupo Financiero Galicia-ADR (GGAL) at 17.4% of the portfolio, followed by Credicorp (BAP, 17.0%) and Banco Santander-Chile-ADR (BSAC, 15.8%). Compared with Q1 2024, it sold out of 1, added to 7 and reduced 3. The biggest buy was XP Class A (XP, shares +457%) and the biggest sale an exit from Bancolombia S.A.-Spons ADR.
- Most Recent 13F
- Q2 2026
- Location
- MIAMI, FL
- CIK
- 0001513137
- Portfolio Value
- $236.4M (Q2 2024)
- SEC Filing
- 0001513137-24-000004 ↗ filed Aug 5, 2024
Holdings Value
Holdings 10 stocks · $236.4M
| GGAL Grupo Financiero Galicia-ADR | 17.44% | 1,349,222 | $41.2M | Add +25.1% |
| BAP Credicorp Ltd. | 17.00% | 249,065 | $40.2M | Reduce -16.4% |
| BSAC Banco Santander-Chile-ADR | 15.80% | 1,984,071 | $37.4M | Reduce -5.3% |
| OMAB Grupo Aeroportuario Cen-ADR | 11.73% | 409,906 | $27.7M | Add +5.2% |
| XP XP Inc. Class A | 9.81% | 1,319,150 | $23.2M | Add +456.6% |
| FMX Fomento Economico Mex-SP ADR | 9.57% | 210,151 | $22.6M | Reduce -10.8% |
| MELI MercadoLibre Inc. | 6.63% | 9,541 | $15.7M | Add +13.1% |
| ARCO Arcos Dorados Holdings Inc. Class A | 5.06% | 1,330,255 | $12.0M | Add +145.8% |
| ITUB Itau Unibanco H-Spon PRF ADR | 4.90% | 1,984,162 | $11.6M | Add +113.8% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 2.05% | 376,246 | $4.8M | Add +84.4% |
Portfolio Sells Q1 2024 → Q2 2024
| BANCOLOMBIA S.A.-SPONS ADR | Sold out | 0.00% | −7.63 |
| BAP Credicorp Ltd. | Reduce -16.4% | 17.00% | −4.73 |
| FMX Fomento Economico Mex-SP ADR | Reduce -10.8% | 9.57% | −3.64 |
| BSAC Banco Santander-Chile-ADR | Reduce -5.3% | 15.80% | −2.07 |
Portfolio Buys Q1 2024 → Q2 2024
| XP XP Inc. Class A | Add +456.6% | 9.81% | +7.20 |
| GGAL Grupo Financiero Galicia-ADR | Add +25.1% | 17.44% | +5.65 |
| ARCO Arcos Dorados Holdings Inc. Class A | Add +145.8% | 5.06% | +2.47 |
| ITUB Itau Unibanco H-Spon PRF ADR | Add +113.8% | 4.90% | +2.13 |
| MELI MercadoLibre Inc. | Add +13.1% | 6.63% | +1.14 |
| NU Nu Holdings Ltd./Cayman Isl-A | Add +84.4% | 2.05% | +1.00 |
| OMAB Grupo Aeroportuario Cen-ADR | Add +5.2% | 11.73% | −1.54 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 10 | $353.4M | BSAC, BAP, GGAL, LTM, CPA |
| Q1 2026 | 10 | $281.8M | BAP, GGAL, BSAC, LTM, CPA |
| Q4 2025 | 9 | $285.9M | BAP, GGAL, LTM, FMX, BSAC |
| Q3 2025 | 9 | $217.3M | BAP, FMX, GGAL, NU, BSAC |
| Q2 2025 | 10 | $257.5M | GGAL, BAP, FMX, XP, MELI |
| Q1 2025 | 10 | $218.5M | GGAL, BAP, MELI, LOMA, XP |
| Q4 2024 | 10 | $242.6M | GGAL, BAP, BSAC, MELI, FMX |
| Q3 2024 | 10 | $234.3M | GGAL, BAP, BSAC, XP, FMX |
| Q2 2024 | 10 | $236.4M | GGAL, BAP, BSAC, OMAB, XP |
| Q1 2024 | 11 | $232.4M | BAP, BSAC, OMAB, FMX, GGAL |