JGP Global Gestao de Recursos Ltda.

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 20, 2026), JGP Global Gestao de Recursos Ltda. reported 29 stock positions worth $44.8 million. Its top holding was XP Class A (XP) at 23.9% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 17.2%) and Softbank Group Corp.-Unsp ADR (SFTBY, 9.5%). Compared with Q1 2026, it opened 15 new positions, sold out of 9, added to 3 and reduced 7. The biggest buy was a new position in SS SPDR S&P 500 ETF Trust-US (SPY) and the biggest sale an exit from Stoneco Class A (STNE).

Most Recent 13F
Q2 2026
Location
RIO DE JANEIRO, D5
CIK
0001536562
Portfolio Value
$44.8M (Q2 2026)
SEC Filing
0001536562-26-000004 ↗ filed Jul 20, 2026

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $155.5M Q1 2024 Q2 2024: $78.8M Q2 2024 Q3 2024: $51.1M Q3 2024 Q4 2024: $43.9M Q4 2024 Q1 2025: $130.7M Q1 2025 Q2 2025: $204.3M Q2 2025 Q3 2025: $171.4M Q3 2025 Q4 2025: $168.9M Q4 2025 Q1 2026: $22.3M Q1 2026 Q2 2026: $44.8M $44.8M Q2 2026

Holdings 29 stocks · $44.8M
XP XP Inc. Class A 23.86% 657,219 $10.7M Add +153.2%
SPY SS SPDR S&P 500 ETF Trust-US 17.16% 10,290 $7.7M New
SFTBY Softbank Group Corp.-Unsp ADR 9.49% 225,833 $4.3M New
VEON Veon Ltd. 7.78% 66,750 $3.5M New
PROSY Prosus NV -Spon ADR 6.65% 342,397 $3.0M New
ATAI Ataibeckley Inc. 5.88% 500,000 $2.6M New
ECHO Echostar Corp. Class A 4.90% 21,635 $2.2M New
CKHUY CK Hutchison Holdin-Unsp ADR 3.40% 179,486 $1.5M New
ITUB Itau Unibanco H-Spon PRF ADR 3.06% 167,800 $1.4M New
LLY Eli Lilly & Co. 2.94% 1,098 $1.3M Reduce -10.8%
ABBV Abbvie Inc. 1.61% 2,871 $722K Reduce -6.5%
INCY Incyte Corp. 1.42% 5,620 $637K No change
JNJ Johnson & Johnson 1.34% 2,368 $601K Add +11.1%
UNH Unitedhealth Group Inc. 1.15% 1,243 $517K New
ONC Beone Medicines Ltd.-ADR 1.09% 1,711 $488K No change
MRK Merck & Co. Inc. 0.97% 3,372 $433K New
STM Stmicroelectronics NV-NY SHS 0.89% 5,348 $401K New
VRTX Vertex Pharmaceuticals Inc. 0.80% 725 $360K Add +35.0%
BMY Bristol-Myers Squibb Co. 0.79% 6,154 $355K Reduce -0.1%
RVMD Revolution Medicines Inc. 0.74% 1,778 $333K New
GILD Gilead Sciences Inc. 0.60% 2,138 $270K Reduce -8.3%
TMO Thermo Fisher Scientific Inc. 0.60% 534 $268K Reduce -24.1%
ABT Abbott Laboratories 0.58% 2,874 $261K Reduce -7.1%
MDGL Madrigal Pharmaceuticals Inc. 0.52% 433 $232K No change
ISRG Intuitive Surgical Inc. 0.50% 566 $225K Reduce -24.5%
SYK Stryker Corp. 0.49% 691 $218K New
ACAD Acadia Pharmaceuticals Inc. 0.46% 8,110 $205K New
PONY Pony AI Inc. 0.29% 18,490 $129K New
OI SA filed as OI SA-ADR 0.03% 50,301 $13K No change

Options reported separately and not counted above: NVDA puts ($374K), ALB puts ($134K), BIDU puts ($20K), XP puts ($8K), XP calls ($2K).

Portfolio Sells Q1 2026 → Q2 2026
STNE Stoneco Ltd. Class A Sold out 0.00% −30.11
NU Nu Holdings Ltd./Cayman Isl-A Sold out 0.00% −15.19
LLY Eli Lilly & Co. Reduce -10.8% 2.94% −2.14
TSM Taiwan Semiconductor-SP ADR Sold out 0.00% −1.57
ABBV Abbvie Inc. Reduce -6.5% 1.61% −1.38
NVDA Nvidia Corp. Sold out 0.00% −1.19
MCK McKesson Corp. Sold out 0.00% −1.10
ISRG Intuitive Surgical Inc. Reduce -24.5% 0.50% −1.05
TMO Thermo Fisher Scientific Inc. Reduce -24.1% 0.60% −0.96
ZTS Zoetis Inc. Sold out 0.00% −0.95
INSM Insmed Inc. Sold out 0.00% −0.95
VNET Vnet Group Inc.-ADR Sold out 0.00% −0.93
BSX Boston Scientific Corp. Sold out 0.00% −0.92
BMY Bristol-Myers Squibb Co. Reduce -0.1% 0.79% −0.89
GILD Gilead Sciences Inc. Reduce -8.3% 0.60% −0.86
ABT Abbott Laboratories Reduce -7.1% 0.58% −0.84

Portfolio Buys Q1 2026 → Q2 2026
SPY SS SPDR S&P 500 ETF Trust-US New 17.16% +17.16
SFTBY Softbank Group Corp.-Unsp ADR New 9.49% +9.49
VEON Veon Ltd. New 7.78% +7.78
PROSY Prosus NV -Spon ADR New 6.65% +6.65
ATAI Ataibeckley Inc. New 5.88% +5.88
ECHO Echostar Corp. Class A New 4.90% +4.90
CKHUY CK Hutchison Holdin-Unsp ADR New 3.40% +3.40
ITUB Itau Unibanco H-Spon PRF ADR New 3.06% +3.06
XP XP Inc. Class A Add +153.2% 23.86% +1.68
UNH Unitedhealth Group Inc. New 1.15% +1.15
MRK Merck & Co. Inc. New 0.97% +0.97
STM Stmicroelectronics NV-NY SHS New 0.89% +0.89
RVMD Revolution Medicines Inc. New 0.74% +0.74
SYK Stryker Corp. New 0.49% +0.49
ACAD Acadia Pharmaceuticals Inc. New 0.46% +0.46
PONY Pony AI Inc. New 0.29% +0.29
VRTX Vertex Pharmaceuticals Inc. Add +35.0% 0.80% −0.27
JNJ Johnson & Johnson Add +11.1% 1.34% −1.00

Options Activity Q1 2026 → Q2 2026
SOLS Solstice Adv Materials Inc. put Sold out 2,000 $760Kbefore exit
NVDA Nvidia Corp. put New 3,000 $374K
ALB Albemarle Corp. put New 920 $134K
STNE Stoneco Ltd. Class A call Sold out 570 $45Kbefore exit
EEM iShares MSCI Emerging Market call Sold out 3,055 $31Kbefore exit
BIDU Baidu Inc. - Spon ADR put New 1,000 $20K
STNE Stoneco Ltd. Class A put Sold out 570 $19Kbefore exit
ARM Arm Holdings PLC-ADR call Sold out 130 $16Kbefore exit
XP XP Inc. Class A put New 180 $8K
XP XP Inc. Class A call New 180 $2K

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 29$44.8MXP, SPY, SFTBY, VEON, PROSY
Q1 2026 23$22.3MSTNE, XP, NU, LLY, ABBV
Q4 2025 44$168.9MNGD, STNE, SOLS, RRC, NU
Q3 2025 32$171.4MNGD, STNE, XP, NU, ONC
Q2 2025 45$204.3MSTNE, NGD, XP, KTOS, IBIT
Q1 2025 34$130.7MSTNE, NGD, PPLT, XP, CAPRI HOLDINGS LTD
Q4 2024 39$43.9MNGD, STNE, LLY, ONC, INCY
Q3 2024 39$51.1MNGD, STNE, RYTM, LLY, ONC
Q2 2024 41$78.8MSTNE, NU, CUCSF, DSKYF, SPGI
Q1 2024 58$155.5MBYDDF, XP, STNE, NU, NGD