Itau Unibanco Holding S.A.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Itau Unibanco Holding S.A. reported 386 stock positions worth $2.9 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 10.2% of the portfolio, followed by Vanguard S&P 500 ETF (VOO, 7.0%) and Itau Unibanco H-Spon PRF ADR (ITUB, 5.7%). Compared with Q2 2025, it opened 72 new positions, sold out of 59, added to 87 and reduced 162. The biggest buy was Nu Holdings Ltd./Cayman Isl-A (NU, shares +130%) and the biggest sale SS Financial Select Sector (XLF, shares −94%).

Most Recent 13F
Q2 2026
Location
SAO PAULO, D5
CIK
0001132597
Portfolio Value
$2.9B (Q3 2025)
SEC Filing
0001292814-25-003919 ↗ filed Nov 12, 2025

Holdings Value

0$2.0B$4.0B$6.0B Q1 2024: $2.3B Q1 2024 Q2 2024: $2.4B Q2 2024 Q3 2024: $3.0B Q3 2024 Q4 2024: $3.2B Q4 2024 Q1 2025: $2.6B Q1 2025 Q2 2025: $2.6B Q2 2025 Q3 2025: $2.9B $2.9B Q3 2025 Q4 2025: $4.1B Q4 2025 Q1 2026: $4.2B Q1 2026 Q2 2026: $5.1B Q2 2026

Holdings 386 stocks · $2.9B

SPY SS SPDR S&P 500 ETF Trust-US 10.18% 448,878 $299.0M Reduce -12.4%
VOO Vanguard S&P 500 ETF 7.01% 336,485 $206.1M Reduce -5.7%
ITUB Itau Unibanco H-Spon PRF ADR 5.66% 22,672,324 $166.4M Add +3.0%
BBD Banco Bradesco-ADR 4.15% 36,088,332 $122.0M Add +2.5%
BAP Credicorp Ltd. 4.05% 447,388 $119.1M Reduce -21.1%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 3.64% 6,684,418 $107.0M Add +130.2%
PBR Petroleo Brasileiro-Spon ADR 3.46% 8,041,545 $101.8M Add +42.0%
NVDA Nvidia Corp. 2.82% 444,294 $82.9M Add +26.0%
PBR.A Petroleo Brasil-SP Pref ADR 2.57% 6,399,690 $75.6M Add +5.2%
PXH Inves Rafi Emer MRKT-Usd Inc. 2.53% 2,925,998 $74.4M No change
AMZN Amazon.com Inc. 2.39% 320,393 $70.3M Add +71.3%
VGK Vanguard Ftse Europe ETF 2.31% 850,566 $67.9M Add +0.5%
KOF Coca-Cola Femsa Sab-SP ADR 2.31% 815,476 $67.8M Add +4.7%
VALE Vale SA-SP ADR 2.21% 5,967,080 $64.8M Reduce -15.6%
EMBJ Embraer SA-Spon ADR 2.17% 1,055,100 $63.8M Reduce -10.0%
CX Cemex Sab-Spons ADR Part Cer 2.17% 7,091,193 $63.7M New
LTMAY Latam Airlines Group-SP ADR 2.01% 1,304,565 $59.0M Add +65.7%
SCCO Southern Copper Corp. 1.71% 414,907 $50.4M Add +69985.6%
MSFT Microsoft Corp. 1.68% 95,528 $49.5M Add +90.8%
ASR Grupo Aeroportuario Sur-ADR 1.67% 151,364 $48.9M Add +37.3%
TSLA Tesla Inc. 1.45% 96,023 $42.7M Add +286.6%
AMX America Movil Sab DE CV 1.42% 1,982,312 $41.6M New
EWJ iShares MSCI Japan ETF 1.37% 501,258 $40.2M Reduce -36.4%
META Meta Platforms Inc. Class A 1.24% 49,701 $36.5M Reduce -6.0%
IWF iShares Russell 1000 Growth 1.19% 74,959 $35.1M Add +10.0%
TBBB BBB Foods Inc. Class A 1.10% 1,201,241 $32.4M Add +96.6%
EFG iShares MSCI Eafe Growth ETF 1.06% 274,602 $31.3M Add +9.7%
GGB Gerdau SA -Spon ADR 1.05% 9,956,261 $30.9M Add +146.7%
ACWX iShares MSCI Acwi Ex US ETF 1.01% 455,513 $29.6M Add +0.2%
GOOGL Alphabet Inc. Class A 0.94% 117,019 $27.7M Add +102.0%
ORCL Oracle Corp. 0.88% 91,644 $25.8M Add +1045.5%
CRWD CrowdStrike Holdings Inc. Class A 0.85% 50,788 $24.9M Add +32.0%
GGAL Grupo Financiero Galicia-ADR 0.81% 861,049 $23.7M Reduce -3.7%
NFLX Netflix Inc. 0.79% 19,345 $23.2M Reduce -9.2%
NOW ServiceNow Inc. 0.78% 25,005 $23.0M Add +32.7%
AVGO Broadcom Inc. 0.75% 66,910 $22.1M Reduce -15.7%
KWEB Kranesh Csi China Internet 0.74% 514,595 $21.6M New
BCH Banco DE Chile-ADR 0.67% 645,215 $19.6M Add +87.4%
AAPL Apple Inc. 0.66% 75,790 $19.3M Reduce -65.0%
IWM iShares Russell 2000 ETF 0.63% 77,077 $18.6M New
EEM iShares MSCI Emerging Market 0.54% 298,715 $16.0M Add +731.1%
EWZ iShares MSCI Brazil ETF 0.54% 525,035 $15.7M Add +125.8%
GLD SPDR Gold Shares 0.51% 43,574 $15.1M Reduce -65.9%
PSR Invesco Active US Real Estat 0.51% 24,980 $15.0M New
TSM Taiwan Semiconductor-SP ADR 0.46% 41,491 $13.6M Reduce -81.3%
CIB Grupo Cibest SA-ADR 0.44% 246,270 $12.8M New
STNE Stoneco Ltd. Class A 0.41% 637,944 $12.1M Reduce -11.3%
GOVT iShares US Treasury Bond ETF 0.35% 445,745 $10.3M Reduce -51.1%
XLY SS Consumer Disc Select Sect 0.33% 40,283 $9.7M Reduce -18.6%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.32% 83,981 $9.4M Add +111874.7%
BIDU Baidu Inc. - Spon ADR 0.30% 66,000 $8.7M New
SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI 0.29% 342,268 $8.5M Reduce -30.7%
SUZ Suzano SA - Spon ADR 0.27% 828,449 $7.8M Reduce -4.8%
ICLN iShares Global Clean Energy 0.26% 500,000 $7.7M New
XLK SS Technology Select Sector 0.25% 26,431 $7.4M Add +121.5%
COIN Coinbase Global Inc. Class A 0.24% 21,271 $7.2M Add +20.3%
XLB SS Materials Select Sector 0.24% 79,201 $7.1M Reduce -24.8%
CSGP Costar Group Inc. 0.24% 83,665 $7.1M Add +319.8%
TLT iShares 20+ Year Treasury BD 0.24% 77,500 $6.9M Add +93.8%
HOOD Robinhood Markets Inc. Class A 0.23% 47,206 $6.8M Add +28.4%
INTC Intel Corp. 0.22% 192,898 $6.5M Add +23.5%
MU Micron Technology Inc. 0.21% 36,356 $6.1M Reduce -55.9%
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 0.20% 73,461 $6.0M Add +32.4%
EOG EOG Resources Inc. 0.20% 52,258 $5.9M Add +12584.0%
BBY Best Buy Co. Inc. 0.19% 72,007 $5.4M Add +42.6%
COMPANHIA PARANAENSE ENERG C 0.18% 544,344 $5.3M Add +41.4%
XLE SS Energy Select Sector 0.18% 59,188 $5.3M Reduce -55.9%
XLF SS Financial Select Sector 0.18% 98,021 $5.3M Reduce -94.0%
FCX Freeport-McMoran Inc. 0.18% 134,000 $5.3M New
SPGI S&P Global Inc. 0.15% 9,300 $4.5M Add +144.7%
DBA Invesco DB Agriculture Fund 0.15% 168,400 $4.5M No change
NEE Nextera Energy Inc. 0.14% 54,198 $4.1M Add +6.7%
FXI iShares China Large-Cap ETF 0.14% 97,610 $4.0M Add +69.8%
CEG Constellation Energy 0.14% 12,052 $4.0M Add +130.7%
WMT Walmart Inc. 0.13% 37,873 $3.9M Reduce -82.9%
RIOT Riot Platforms Inc. 0.13% 202,000 $3.8M New
NBIS Nebius Group NV 0.13% 32,800 $3.7M Reduce -21.9%
MARA Mara Holdings Inc. 0.11% 178,000 $3.3M New
GARP iShares MSCI USA Quality Gar 0.11% 16,170 $3.1M New
GDX Vaneck Gold Miners ETF 0.10% 40,000 $3.1M New
CSANY Cosan SA -ADR 0.10% 658,046 $3.0M Add +166073.2%
RSP Invesco S&P 500 Equal Weight 0.10% 14,953 $2.8M Reduce -1.8%
ABBV Abbvie Inc. 0.10% 12,210 $2.8M Add +12.7%
PAM Pampa Energia SA-Spon ADR 0.09% 46,329 $2.8M Reduce -84.8%
EVEX Eve Holding Inc. filed as EVE HLDG INC 0.09% 730,317 $2.8M Add +812.9%
XLI SS Industrial Select Sector 0.09% 17,316 $2.7M Reduce -86.8%
CPA Copa Holdings SA Class A 0.09% 21,078 $2.5M Add +201.1%
KO The Coca-Cola Co. 0.08% 37,496 $2.5M Add +667.3%
URA Global X Uranium ETF 0.08% 50,486 $2.4M Add +50386.0%
LLY Eli Lilly & Co. 0.08% 3,062 $2.3M Add +5570.4%
EWW iShares MSCI Mexico ETF 0.08% 33,800 $2.3M Add +76.0%
PEG Public Service Enterprise GP 0.08% 26,966 $2.3M Add +11.6%
NEM Newmont Corp. 0.08% 26,298 $2.2M Add +12.9%
IFS Intercorp Financial Services 0.07% 50,620 $2.0M New
XLC SS Comm Select Sector SPDR 0.07% 16,597 $2.0M Reduce -73.6%
KDP Keurig Dr Pepper Inc. 0.07% 77,007 $2.0M Reduce -31.1%
CRWV Coreweave Inc. Class A 0.07% 14,000 $1.9M No change
BSBR Banco Santander Brasil-ADS 0.07% 342,322 $1.9M New
HD Home Depot Inc. 0.06% 4,524 $1.8M Reduce -38.1%
TECK Teck Resources Ltd.-CLS B 0.06% 41,000 $1.8M New
HRL Hormel Foods Corp. 0.06% 70,792 $1.8M New
TTWO Take-Two Interactive Softwre 0.06% 6,667 $1.7M Add +2474.1%
ETN Eaton Corp. PLC 0.05% 4,267 $1.6M Reduce -48.2%
USO United States Oil Fund 0.05% 20,000 $1.5M New
SLV iShares Silver Trust 0.05% 34,526 $1.5M Reduce -50.0%
KBWB Invesco KBW Bank ETF 0.05% 18,400 $1.4M Add +104.4%
TLH iShares 10-20 Year Treasury 0.05% 13,838 $1.4M Reduce -97.9%
COF Capital One Financial Corp. 0.05% 6,703 $1.4M Add +71.7%
BKR Baker Hughes Co. 0.05% 28,775 $1.4M Reduce -75.9%
QXO Qxo Inc. 0.05% 70,700 $1.3M Add +81.3%
KKR KKR & Co. Inc. 0.04% 10,078 $1.3M Reduce -35.4%
GEV GE Vernova Inc. 0.04% 2,000 $1.2M New
BIL SS SPDR BB 1-3M T-Bill ETF 0.04% 13,212 $1.2M New
GOOG Alphabet Inc. Class C 0.04% 4,811 $1.2M Reduce -78.7%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.04% 9,912 $1.1M Add +68.1%
GTLB Gitlab Inc. Class A 0.04% 25,000 $1.1M New
FERG Ferguson Enterprises Inc. 0.04% 4,900 $1.1M New
LMT Lockheed Martin Corp. 0.04% 2,200 $1.1M Reduce -24.1%
FIGR Figure Technology Solut Class A 0.04% 30,000 $1.1M New
PANW Palo Alto Networks Inc. 0.04% 5,298 $1.1M Add +804.1%
GFI Gold Fields Ltd.-Spons ADR 0.04% 25,033 $1.1M Reduce -49.5%
EPI Wisdomtree India Earnings 0.04% 23,600 $1.0M Add +7.3%
SE Sea Ltd.-ADR 0.03% 5,738 $1.0M Reduce -24.3%
IVE iShares S&P 500 Value ETF 0.03% 4,895 $1.0M Reduce -34.9%
DDOG Datadog Inc. Class A 0.03% 6,645 $946K Add +14.8%
IYR iShares US Real Estate ETF 0.03% 9,665 $938K Reduce -70.5%
ETSY Etsy Inc. 0.03% 13,291 $882K New
FLY Firefly Aerospace Inc. 0.03% 30,000 $880K New
SNOW Snowflake Inc. 0.03% 3,899 $879K Add +3.9%
MDB Mongodb Inc. 0.03% 2,784 $864K New
BKNG Booking Holdings Inc. 0.03% 156 $842K Add +437.9%
SONY Sony Group Corp. - SP ADR 0.03% 28,297 $815K Add +12.8%
RKT Rocket Cos Inc. Class A 0.03% 40,371 $782K Add +1042.7%
AMD Advanced Micro Devices 0.03% 4,687 $758K Reduce -87.0%
RACE Ferrari NV 0.02% 1,400 $679K Add +1300.0%
CMF iShares California Muni Bond 0.02% 10,941 $624K Reduce -40.4%
SHLD Global X Defense Tech ETF 0.02% 8,705 $611K New
DLO Dlocal Ltd. 0.02% 40,973 $585K New
TIP iShares Tips Bond ETF 0.02% 5,088 $566K Reduce -34.7%
GMF State Street SPDR S&P Emergi 0.02% 4,000 $556K No change
CAT Caterpillar Inc. 0.02% 1,141 $544K Add +276.6%
NKE Nike Inc. Class B 0.02% 7,468 $521K New
CCJ Cameco Corp. 0.02% 5,909 $496K Add +385.9%
INFY Infosys Ltd.-SP ADR 0.02% 30,382 $494K Add +22.6%
IAU iShares Gold Trust 0.02% 6,379 $464K Reduce -20.6%
V Visa Inc. Class A 0.02% 1,342 $458K Reduce -78.7%
UBER Uber Technologies Inc. 0.02% 4,675 $458K New
MMYT Makemytrip Ltd. 0.01% 4,582 $429K Reduce -31.4%
GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD 0.01% 10,997 $426K Reduce -18.2%
METV Roundhill Ball Metaverse ETF 0.01% 20,200 $416K No change
JNJ Johnson & Johnson 0.01% 2,192 $406K Reduce -0.1%
RBLX Roblox Corp. Class A 0.01% 2,900 $402K Add +47.1%
AZN Astrazeneca PLC-Spons ADR 0.01% 5,127 $393K Reduce -30.5%
MA Mastercard Inc. Class A 0.01% 678 $386K Reduce -3.3%
JPM JPMorgan Chase & Co. 0.01% 1,149 $362K Reduce -94.3%
MCHI iShares MSCI China ETF 0.01% 5,400 $356K No change
ONON On Holding AG Class A filed as ON HLDG AG 0.01% 7,941 $336K Reduce -73.0%
BABA Alibaba Group Holding-SP ADR 0.01% 1,867 $334K Reduce -97.6%
NRG NRG Energy Inc. 0.01% 2,033 $329K New
NTRA Natera Inc. 0.01% 1,900 $306K Reduce -82.8%
PDBC Invesco Optimum Yield Divers 0.01% 22,229 $299K Add +153.7%
PLTR Palantir Technologies Inc. Class A 0.01% 1,535 $280K Reduce -95.1%
DBX ETF TR 0.01% 8,139 $268K Reduce -93.6%
FCNCA First Citizens Bcshs Class A 0.01% 150 $268K New
TME Tencent Music Entertainm-ADR 0.01% 11,245 $262K New
VST Vistra Corp. 0.01% 1,322 $259K New
BE Bloom Energy Corp. Class A 0.01% 2,906 $246K Reduce -50.3%
GE General Electric filed as GE AEROSPACE 0.01% 778 $234K Reduce -14.6%
ELF Elf Beauty Inc. 0.01% 1,740 $231K New
EFA iShares MSCI Eafe ETF 0.01% 2,214 $207K New
EPP iShares MSCI Pacific Ex Japa 0.01% 4,000 $206K No change
KVUE Kenvue Inc. 0.01% 12,570 $204K Reduce -54.3%
TH Target Hospitality Corp. 0.01% 22,496 $191K New
SJM The JM Smucker Co. filed as SMUCKER J M CO 0.01% 1,756 $191K New
QUAL iShares MSCI USA Quality Fac 0.01% 979 $191K Reduce -83.7%
ZM Zoom Communications Inc. 0.01% 2,268 $187K Reduce -72.5%
AXP American Express Co. 0.01% 541 $180K Reduce -3.4%
APP AppLovin Corp. Class A 0.01% 246 $177K Add +2.5%
ASML ASML Holding NV-NY Reg SHS 0.01% 166 $161K New
ANET Arista Networks Inc. 0.01% 1,032 $150K Reduce -4.4%
BX Blackstone Inc. 0.01% 861 $147K Reduce -3.6%
LRCX Lam Research Corp. 0.00% 1,018 $136K Reduce -29.8%
ADSK Autodesk Inc. 0.00% 420 $133K Add +28.1%
ADP Automatic Data Processing 0.00% 442 $130K Reduce -3.9%
ADBE Adobe Inc. 0.00% 364 $128K Reduce -92.9%
HUBS HubSpot Inc. 0.00% 273 $128K New
PGR Progressive Corp. 0.00% 515 $127K Add +4.9%
AMAT Applied Materials Inc. 0.00% 601 $123K Reduce -30.3%
QCOM Qualcomm Inc. 0.00% 714 $119K Reduce -4.4%
BLDP Ballard Power Systems Inc. 0.00% 40,026 $109K Reduce -50.3%
EA Electronic Arts Inc. 0.00% 524 $106K Add +1.2%
HPE Hewlett Packard Enterprise 0.00% 3,910 $96K No change
MCO Moody's Corp. 0.00% 192 $91K Reduce -2.0%
EQIX Equinix Inc. 0.00% 115 $90K No change
LOW Lowe's Cos Inc. 0.00% 335 $84K Reduce -4.8%
MCK McKesson Corp. 0.00% 108 $83K Reduce -4.4%
JCI Johnson Controls Internation 0.00% 731 $80K Reduce -2.4%
DASH DoorDash Inc. Class A 0.00% 283 $77K Reduce -2.1%
U Unity Software Inc. 0.00% 1,915 $77K Reduce -85.1%
ALNY Alnylam Pharmaceuticals Inc. 0.00% 168 $77K No change
BBIO Bridgebio Pharma Inc. 0.00% 1,470 $76K Reduce -0.6%
APOLLO GLOBAL MGMT LLC 0.00% 570 $76K New
MO Altria Group Inc. 0.00% 1,129 $75K Reduce -4.2%
WM Waste Management Inc. 0.00% 337 $74K No change
IONS Ionis Pharmaceuticals Inc. 0.00% 1,121 $73K Reduce -0.3%
MMM 3M Co. 0.00% 466 $72K Reduce -3.9%
REGN Regeneron Pharmaceuticals 0.00% 127 $71K Reduce -2.3%
FOXA Fox Corp. Class A 0.00% 1,103 $70K Add +3.2%
CIG Cia Energetica DE-Spon ADR 0.00% 32,314 $68K Reduce -96.7%
TXN Texas Instruments Inc. 0.00% 355 $65K Reduce -95.9%
UNP Union Pacific Corp. 0.00% 275 $65K No change
GTLS Chart Industries Inc. 0.00% 319 $64K Reduce -50.2%
KMI Kinder Morgan Inc. 0.00% 2,243 $63K New
TDG Transdigm Group Inc. 0.00% 48 $63K Add +29.7%
ORLY O'reilly Automotive Inc. 0.00% 585 $63K Reduce -5.0%
ROKU Roku Inc. 0.00% 617 $62K Add +3.4%
HWM Howmet Aerospace Inc. 0.00% 314 $62K Reduce -4.8%
TMO Thermo Fisher Scientific Inc. 0.00% 125 $61K Add +56.3%
CTAS Cintas Corp. 0.00% 293 $60K Reduce -2.3%
HAS Hasbro Inc. 0.00% 792 $60K Add +3.5%
ABNB Airbnb Inc. Class A 0.00% 490 $59K Reduce -89.7%
OLN Olin Corp. 0.00% 2,359 $59K Reduce -50.3%
APD Air Products & Chemicals Inc. 0.00% 216 $59K Reduce -41.0%
DHR Danaher Corp. 0.00% 293 $58K Reduce -91.5%
CRSP Crispr Therapeutics AG 0.00% 892 $58K No change
FTNT Fortinet Inc. 0.00% 676 $57K Reduce -17.6%
GRMN Garmin Ltd. 0.00% 230 $57K Add +3.1%
CC The Chemours Co. 0.00% 3,556 $56K Reduce -50.3%
NTNX Nutanix Inc. Class A 0.00% 749 $56K No change
FICO Fair Isaac Corp. 0.00% 37 $55K Add +68.2%
CMI Cummins Inc. 0.00% 130 $55K Reduce -50.4%
AMP Ameriprise Financial Inc. 0.00% 109 $54K Reduce -3.5%
FTI Technipfmc PLC 0.00% 1,331 $53K Reduce -50.3%
LIT Global X Lithium & Battery T 0.00% 912 $52K No change
GILD Gilead Sciences Inc. 0.00% 461 $51K Reduce -0.4%
LIN Linde PLC 0.00% 107 $51K Reduce -50.2%
ABT Abbott Laboratories 0.00% 373 $50K Reduce -0.3%
INCY Incyte Corp. 0.00% 589 $50K No change
MTD Mettler-Toledo International 0.00% 40 $49K Reduce -4.8%
SNPS Synopsys Inc. 0.00% 99 $49K Reduce -28.3%
ALL Allstate Corp. 0.00% 227 $49K Reduce -2.2%
CPNG Coupang Inc. 0.00% 1,500 $48K Reduce -73.1%
PODD Insulet Corp. 0.00% 156 $48K No change
PYPL PayPal Holdings Inc. 0.00% 1,746 $48K Reduce -99.1%
VRT Vertiv Holdings Co. Class A 0.00% 314 $47K Reduce -5.1%
AZO AutoZone Inc. 0.00% 11 $47K Reduce -15.4%
FAST Fastenal Co. 0.00% 952 $47K Reduce -4.4%
JAZZ Jazz Pharmaceuticals PLC 0.00% 353 $47K Reduce -0.3%
SIRI Sirius XM Holdings Inc. 0.00% 1,998 $47K Add +3.5%
IDXX Idexx Laboratories Inc. 0.00% 72 $46K Reduce -4.0%
WMB Williams Cos Inc. 0.00% 726 $46K New
BSX Boston Scientific Corp. 0.00% 470 $46K Reduce -30.2%
TWLO Twilio Inc. Class A 0.00% 451 $45K Add +3.4%
EW Edwards Lifesciences Corp. 0.00% 577 $45K Reduce -0.3%
AMGN Amgen Inc. 0.00% 156 $44K No change
MET Metlife Inc. 0.00% 527 $43K Reduce -3.3%
PFE Pfizer Inc. 0.00% 1,688 $43K Reduce -0.3%
SHEL Shell PLC-ADR 0.00% 596 $43K Reduce -50.3%
SYK Stryker Corp. 0.00% 113 $42K No change
RSG Republic Services Inc. 0.00% 182 $42K No change
VEEV Veeva Systems Inc. Class A 0.00% 137 $41K Reduce -2.8%
DHI D.R. Horton Inc. 0.00% 240 $41K Reduce -2.0%
PAYX Paychex Inc. 0.00% 319 $40K Reduce -4.5%
MPWR Monolithic Power Systems Inc. 0.00% 43 $40K Reduce -6.5%
DOCU Docusign Inc. 0.00% 538 $39K Add +3.5%
AKAM Akamai Technologies Inc. 0.00% 510 $39K Add +3.7%
WLK Westlake Corp. 0.00% 497 $38K Reduce -50.3%
BIIB Biogen Inc. 0.00% 271 $38K Reduce -0.7%
FSLR First Solar Inc. 0.00% 171 $38K Reduce -56.3%
EBAY eBay Inc. 0.00% 412 $37K Reduce -4.4%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.00% 39 $37K Reduce -4.9%
CAH Cardinal Health Inc. 0.00% 235 $37K Reduce -2.1%
EXAS Exact Sciences Corp. 0.00% 674 $37K Reduce -0.4%
TXNM TXNM Energy Inc. 0.00% 652 $37K New
RGEN Repligen Corp. 0.00% 274 $37K No change
MRK Merck & Co. Inc. 0.00% 427 $36K Reduce -0.9%
VRTX Vertex Pharmaceuticals Inc. 0.00% 91 $36K No change
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.00% 716 $35K Reduce -0.6%
BIO Bio-Rad Laboratories-A 0.00% 125 $35K No change
BMRN Biomarin Pharmaceutical Inc. 0.00% 647 $35K No change
ISRG Intuitive Surgical Inc. 0.00% 78 $35K Reduce -1.3%
WMG Warner Music Group Corp. Class A 0.00% 1,024 $35K Add +24.9%
TV Grupo Televisa SA-Spon ADR 0.00% 12,882 $35K No change
RMD Resmed Inc. 0.00% 125 $34K Reduce -3.1%
BMY Bristol-Myers Squibb Co. 0.00% 752 $34K Reduce -0.4%
GHM Graham Corp. 0.00% 617 $34K Reduce -50.3%
EME Emcor Group Inc. 0.00% 52 $34K Reduce -5.5%
WAT Waters Corp. 0.00% 111 $33K No change
ESTC Elastic NV 0.00% 393 $33K New
SNAP Snap Inc. Class A 0.00% 4,249 $33K Add +3.5%
HIG Hartford Insurance Group Inc. 0.00% 245 $33K Reduce -2.0%
YUM Yum! Brands Inc. 0.00% 215 $33K Reduce -2.3%
LPLA LPL Financial Holdings Inc. 0.00% 97 $32K Reduce -4.0%
RVTY Revvity Inc. 0.00% 366 $32K Reduce -0.5%
CPRT Copart Inc. 0.00% 702 $32K Reduce -4.5%
TECH Bio-Techne Corp. 0.00% 556 $31K No change
OTIS Otis Worldwide Corp. 0.00% 338 $31K Reduce -4.8%
LEN Lennar Corp. Class A 0.00% 240 $30K Reduce -2.0%
CELH Celsius Holdings Inc. 0.00% 523 $30K Add +462.4%
CSX CSX Corp. 0.00% 844 $30K No change
NSC Norfolk Southern Corp. 0.00% 94 $28K No change
ILMN Illumina Inc. 0.00% 288 $27K No change
STLD Steel Dynamics Inc. 0.00% 192 $27K No change
HPQ HP Inc. 0.00% 981 $27K Reduce -4.6%
BRK.B Berkshire Hathaway Inc. Class B 0.00% 53 $27K New
WBD Warner Bros Discovery Inc. 0.00% 1,356 $26K Reduce -70.2%
MRVL Marvell Technology Group Ltd. 0.00% 310 $26K Reduce -98.3%
AFRM Affirm Holdings Inc. 0.00% 354 $26K Reduce -4.8%
MRNA Moderna Inc. 0.00% 995 $26K No change
NTAP Netapp Inc. 0.00% 214 $25K Reduce -1.8%
ODFL Old Dominion Freight Line 0.00% 175 $25K Reduce -2.8%
AWK American Water Works Co. Inc. 0.00% 176 $24K No change
WY Weyerhaeuser Co. 0.00% 982 $24K No change
CRM Salesforce Inc. 0.00% 94 $22K Reduce -98.7%
ABEV Ambev SA-ADR 0.00% 9,844 $22K No change
TLN Talen Energy Corp. 0.00% 51 $22K Reduce -94.9%
UI Ubiquiti Inc. 0.00% 29 $19K Reduce -9.4%
WAB Wabtec Corp. 0.00% 92 $18K No change
HY Hyster-Yale Inc. 0.00% 498 $18K Reduce -50.1%
OHI Omega Healthcare Investors 0.00% 400 $17K No change
XYL Xylem Inc. 0.00% 114 $17K No change
TAC Transalta Corp. 0.00% 1,227 $17K New
DECK Deckers Outdoor Corp. 0.00% 164 $17K Reduce -3.0%
ENPH Enphase Energy Inc. 0.00% 465 $16K No change
ATI Ati Inc. 0.00% 202 $16K New
EQT Eqt Corp. 0.00% 301 $16K New
IT Gartner Inc. 0.00% 62 $16K Reduce -4.6%
NVR NVR Inc. 0.00% 2 $16K No change
AMRZ Amrize Ltd. 0.00% 300 $15K New
CSL Carlisle Cos Inc. 0.00% 41 $13K Reduce -4.7%
BXP BXP Inc. 0.00% 169 $13K No change
COHR Coherent Corp. 0.00% 108 $12K New
LXFR Luxfer Holdings PLC 0.00% 828 $12K Reduce -50.1%
CRBG Corebridge Financial Inc. 0.00% 358 $11K Reduce -4.5%
PLD Prologis Inc. 0.00% 97 $11K New
BWA Borgwarner Inc. 0.00% 252 $11K No change
CAR Avis Budget Group Inc. 0.00% 68 $11K No change
ARM Arm Holdings PLC-ADR 0.00% 76 $11K New
WSM Williams-Sonoma Inc. 0.00% 55 $11K Reduce -3.5%
CLH Clean Harbors Inc. 0.00% 45 $10K No change
KRC Kilroy Realty Corp. 0.00% 247 $10K No change
COST Costco Wholesale Corp. 0.00% 11 $10K New
HXL Hexcel Corp. 0.00% 157 $10K No change
VNO Vornado Realty Trust 0.00% 241 $10K No change
BRO Brown & Brown Inc. 0.00% 103 $10K Reduce -2.8%
MOG.A Moog Inc. Class A 0.00% 45 $9K New
RYAN Ryan Specialty Holdings Inc. 0.00% 162 $9K Reduce -2.4%
BALL Ball Corp. 0.00% 179 $9K No change
RYN Rayonier Inc. 0.00% 335 $9K No change
LCID Lucid Group Inc. 0.00% 373 $9K Reduce -90.5%
SBUX Starbucks Corp. 0.00% 104 $9K New
IEX Idex Corp. 0.00% 54 $9K New
NXE Nexgen Energy Ltd. 0.00% 965 $9K New
HIW Highwoods Properties Inc. 0.00% 268 $9K No change
AXIAY Axia Energia-ADR filed as CENTRAIS ELETRICAS BRASILEIR 0.00% 840 $8K New
DAR Darling Ingredients Inc. 0.00% 267 $8K No change
BLD Topbuild Corp. 0.00% 21 $8K No change
CUZ Cousins Properties Inc. 0.00% 283 $8K New
ADC Agree Realty Corp. 0.00% 114 $8K No change
AYI Acuity Inc. 0.00% 23 $8K No change
ERIE Erie Indemnity Company Class A 0.00% 24 $8K Reduce -7.7%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.00% 232 $8K New
AWI Armstrong World Industries 0.00% 38 $7K No change
CRS Carpenter Technology 0.00% 30 $7K New
WMS Advanced Drainage Systems Inc. 0.00% 53 $7K No change
MANH Manhattan Associates Inc. 0.00% 35 $7K Reduce -5.4%
BEPC Brookfield Renewable Corp. 0.00% 199 $7K New
BCC Boise Cascade Co. 0.00% 88 $7K New
MAS Masco Corp. 0.00% 94 $7K No change
COP Conocophillips 0.00% 69 $7K New
AME Ametek Inc. 0.00% 34 $6K New
WTRG Essential Utilities Inc. 0.00% 158 $6K No change
UNH Unitedhealth Group Inc. 0.00% 18 $6K Reduce -99.8%
HUBB Hubbell Inc. 0.00% 14 $6K New
CNM Core & Main Inc. Class A 0.00% 109 $6K No change
LPX Louisiana-Pacific Corp. 0.00% 65 $6K No change
AAON Aaon Inc. 0.00% 61 $6K No change
LW Lamb Weston Holdings Inc. 0.00% 97 $6K New
TTEK Tetra Tech Inc. 0.00% 168 $6K No change
CWEN.A Clearway Energy Inc. Class A 0.00% 203 $5K No change
BLDR Builders Firstsource Inc. 0.00% 45 $5K New
TREX Trex Company Inc. 0.00% 105 $5K No change
CORZ Core Scientific Inc. 0.00% 302 $5K New
CWEN Clearway Energy Inc. Class C 0.00% 191 $5K No change
SPR Spirit Aerosystems Hold Class A 0.00% 136 $5K New
MRUS Merus NV 0.00% 32 $3K New

Options reported separately and not counted above: SPDR GOLD TR calls ($56.4M), INTEL CORP calls ($1.8M), KRANESHARES TRUST calls ($871K), STATE STR SPDR S&P 500 ETF T puts ($141K), COSTAR GROUP INC calls ($138K), NEXTERA ENERGY INC calls ($123K), BEST BUY INC calls ($113K).

Portfolio Sells Q2 2025 → Q3 2025

XLF SS Financial Select Sector Reduce -94.0% 0.18% −3.09
TLH iShares 10-20 Year Treasury Reduce -97.9% 0.05% −2.51
SPY SS SPDR S&P 500 ETF Trust-US Reduce -12.4% 10.18% −1.86
MELI MercadoLibre Inc. Sold out 0.00% −1.82
TSM Taiwan Semiconductor-SP ADR Reduce -81.3% 0.46% −1.44
FMX Fomento Economico Mex-SP ADR Sold out 0.00% −1.32
AAPL Apple Inc. Reduce -65.0% 0.66% −1.03
VIST Vista Energy Sab DE CV Sold out 0.00% −1.00
GLD SPDR Gold Shares Reduce -65.9% 0.51% −0.97
GGAL Grupo Financiero Galicia-ADR Reduce -3.7% 0.81% −0.91
EWJ iShares MSCI Japan ETF Reduce -36.4% 1.37% −0.88
PAM Pampa Energia SA-Spon ADR Reduce -84.8% 0.09% −0.71
VOO Vanguard S&P 500 ETF Reduce -5.7% 7.01% −0.69
WMT Walmart Inc. Reduce -82.9% 0.13% −0.69
XLI SS Industrial Select Sector Reduce -86.8% 0.09% −0.64
SQM Quimica Y Minera Chil-SP ADR Sold out 0.00% −0.62
PYPL PayPal Holdings Inc. Reduce -99.1% 0.00% −0.57
TIGO Millicom Intl Cellular S.A. Sold out 0.00% −0.53
GOVT iShares US Treasury Bond ETF Reduce -51.1% 0.35% −0.45
VALE Vale SA-SP ADR Reduce -15.6% 2.21% −0.40
EMBJ Embraer SA-Spon ADR Reduce -10.0% 2.17% −0.37
BABA Alibaba Group Holding-SP ADR Reduce -97.6% 0.01% −0.32
NFLX Netflix Inc. Reduce -9.2% 0.79% −0.30
TIMB Tim SA-ADR Sold out 0.00% −0.26
XLE SS Energy Select Sector Reduce -55.9% 0.18% −0.25
META Meta Platforms Inc. Class A Reduce -6.0% 1.24% −0.24
DVMT Dell Technologies Inc. Class V Sold out 0.00% −0.24
JPM JPMorgan Chase & Co. Reduce -94.3% 0.01% −0.21
SLV iShares Silver Trust Reduce -50.0% 0.05% −0.20
XLC SS Comm Select Sector SPDR Reduce -73.6% 0.07% −0.19
MU Micron Technology Inc. Reduce -55.9% 0.21% −0.18
AMD Advanced Micro Devices Reduce -87.0% 0.03% −0.17
PLTR Palantir Technologies Inc. Class A Reduce -95.1% 0.01% −0.15
ON On Semiconductor Sold out 0.00% −0.14
BURL Burlington Stores Inc. Sold out 0.00% −0.13
BKR Baker Hughes Co. Reduce -75.9% 0.05% −0.13
DBX ETF TR Reduce -93.6% 0.01% −0.12
SBS Cia Saneamento Basico DE-ADR Reduce -30.7% 0.29% −0.12
RTX RTX Corp. Sold out 0.00% −0.12
NOC Northrop Grumman Corp. Sold out 0.00% −0.11
GOOG Alphabet Inc. Class C Reduce -78.7% 0.04% −0.11
XLB SS Materials Select Sector Reduce -24.8% 0.24% −0.11
BJ Bj's Wholesale Club Holdings Sold out 0.00% −0.10
ALGM Allegro Microsystems Inc. Sold out 0.00% −0.09
UNH Unitedhealth Group Inc. Reduce -99.8% 0.00% −0.09
JBS JBS NV-A Sold out 0.00% −0.09
IYR iShares US Real Estate ETF Reduce -70.5% 0.03% −0.09
XLY SS Consumer Disc Select Sect Reduce -18.6% 0.33% −0.08
AVGO Broadcom Inc. Reduce -15.7% 0.75% −0.08
KDP Keurig Dr Pepper Inc. Reduce -31.1% 0.07% −0.08

Portfolio Buys Q2 2025 → Q3 2025

NU Nu Holdings Ltd./Cayman Isl-A Add +130.2% 3.64% +2.51
CX Cemex Sab-Spons ADR Part Cer New 2.17% +2.17
ITUB Itau Unibanco H-Spon PRF ADR Add +3.0% 5.66% +2.11
SCCO Southern Copper Corp. Add +69985.6% 1.71% +1.71
AMX America Movil Sab DE CV New 1.42% +1.42
TSLA Tesla Inc. Add +286.6% 1.45% +1.15
KOF Coca-Cola Femsa Sab-SP ADR Add +4.7% 2.31% +0.94
ASR Grupo Aeroportuario Sur-ADR Add +37.3% 1.67% +0.92
ORCL Oracle Corp. Add +1045.5% 0.88% +0.83
AMZN Amazon.com Inc. Add +71.3% 2.39% +0.83
LTMAY Latam Airlines Group-SP ADR Add +65.7% 2.01% +0.79
TBBB BBB Foods Inc. Class A Add +96.6% 1.10% +0.79
PBR Petroleo Brasileiro-Spon ADR Add +42.0% 3.46% +0.77
MSFT Microsoft Corp. Add +90.8% 1.68% +0.74
KWEB Kranesh Csi China Internet New 0.74% +0.74
NVDA Nvidia Corp. Add +26.0% 2.82% +0.70
IWM iShares Russell 2000 ETF New 0.63% +0.63
GGB Gerdau SA -Spon ADR Add +146.7% 1.05% +0.60
GOOGL Alphabet Inc. Class A Add +102.0% 0.94% +0.56
PSR Invesco Active US Real Estat New 0.51% +0.51
BCH Banco DE Chile-ADR Add +87.4% 0.67% +0.51
EEM iShares MSCI Emerging Market Add +731.1% 0.54% +0.48
CIB Grupo Cibest SA-ADR New 0.44% +0.44
LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +111874.7% 0.32% +0.32
BIDU Baidu Inc. - Spon ADR New 0.30% +0.30
EWZ iShares MSCI Brazil ETF Add +125.8% 0.54% +0.28
ICLN iShares Global Clean Energy New 0.26% +0.26
EOG EOG Resources Inc. Add +12584.0% 0.20% +0.20
CSGP Costar Group Inc. Add +319.8% 0.24% +0.18
FCX Freeport-McMoran Inc. New 0.18% +0.18
XLK SS Technology Select Sector Add +121.5% 0.25% +0.14
RIOT Riot Platforms Inc. New 0.13% +0.13
MARA Mara Holdings Inc. New 0.11% +0.11
GARP iShares MSCI USA Quality Gar New 0.11% +0.11
COMPANHIA PARANAENSE ENERG C Add +41.4% 0.18% +0.11
GDX Vaneck Gold Miners ETF New 0.10% +0.10
CSANY Cosan SA -ADR Add +166073.2% 0.10% +0.10
CRWD CrowdStrike Holdings Inc. Class A Add +32.0% 0.85% +0.10
TLT iShares 20+ Year Treasury BD Add +93.8% 0.24% +0.10
HOOD Robinhood Markets Inc. Class A Add +28.4% 0.23% +0.10
IWF iShares Russell 1000 Growth Add +10.0% 1.19% +0.10
INTC Intel Corp. Add +23.5% 0.22% +0.09
URA Global X Uranium ETF Add +50386.0% 0.08% +0.08
LLY Eli Lilly & Co. Add +5570.4% 0.08% +0.08
SPGI S&P Global Inc. Add +144.7% 0.15% +0.08
EVEX Eve Holding Inc. Add +812.9% 0.09% +0.07
KO The Coca-Cola Co. Add +667.3% 0.08% +0.07
CEG Constellation Energy Add +130.7% 0.14% +0.07
IFS Intercorp Financial Services New 0.07% +0.07
BSBR Banco Santander Brasil-ADS New 0.07% +0.07

Options Activity Q2 2025 → Q3 2025

SPDR GOLD TR call Add +150.0% 3,750 $56.4M
INTEL CORP call Add +1250.0% 2,700 $1.8M
KRANESHARES TRUST call New 663 $871K
STATE STR SPDR S&P 500 ETF T put New 650 $141K
COSTAR GROUP INC call Reduce -0.2% 550 $138K
NEXTERA ENERGY INC call New 400 $123K
BEST BUY INC call Reduce -24.0% 950 $113K
STONECO LTD call Sold out 364 $104Kbefore exit
XP INC call Sold out 360 $88Kbefore exit

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 355$5.1BSPY, IGOV, VALE, PBR, NU
Q1 2026Amended 351$4.2BPBR, SPY, VALE, VOO, BBD
Q4 2025 338$4.1BSPY, VOO, PBR, NU, BBD
Q3 2025 386$2.9BSPY, VOO, ITUB, BBD, BAP
Q2 2025 373$2.6BSPY, VOO, BBD, ITUB, XLF
Q1 2025 363$2.6BSPY, VOO, PBR.A, ITUB, TLH
Q4 2024 361$3.2BSPY, BAP, PBR, VOO, PBR.A
Q3 2024 323$3.0BSPY, VOO, PBR.A, ITUB, TSM
Q2 2024 332$2.4BSPY, VOO, TSM, ITUB, FMX
Q1 2024 103$2.3BSPY, FMX, ITUB, XLF, TLH