JGP Global Gestao de Recursos Ltda. In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 8, 2026), JGP Global Gestao de Recursos Ltda. reported 23 stock positions worth $22.3 million . Its top holding was Stoneco Class A (STNE) at 30.1% of the portfolio, followed by XP Class A (XP, 22.2% ) and Nu Holdings Ltd./Cayman Isl-A (NU, 15.2% ). Compared with Q4 2025, it sold out of 21, added to 13 and reduced 9. The biggest buy was XP Class A (XP, shares +4% ) and the biggest sale an exit from New Gold (NGD).
Location RIO DE JANEIRO, D5
CIK 0001536562
Portfolio Value $22.3M (Q1 2026) Holdings 23 stocks · $22.3M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2025 STNE Stoneco Ltd. Class A 475,123 $6.7M Reduce -82.1% XP XP Inc. Class A 259,548 $4.9M Add +3.8% NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 235,574 $3.4M Reduce -19.4% LLY Eli Lilly & Co. 1,231 $1.1M Add +1.1% ABBV Abbvie Inc. 3,071 $668K Add +0.5% INCY Incyte Corp. 5,620 $529K Reduce -38.2% JNJ Johnson & Johnson 2,132 $521K Add +0.4% ONC Beone Medicines Ltd.-ADR 1,711 $508K Reduce -33.1% BMY Bristol-Myers Squibb Co. 6,161 $374K Add +0.4% TSM Taiwan Semiconductor-SP ADR 1,038 $351K Reduce -31.0% TMO Thermo Fisher Scientific Inc. 704 $346K Add +0.9% ISRG Intuitive Surgical Inc. 750 $346K Add +0.9% GILD Gilead Sciences Inc. 2,331 $325K Add +0.4% ABT Abbott Laboratories 3,094 $318K Add +1.2% NVDA Nvidia Corp. 1,519 $265K Reduce -36.8% MCK McKesson Corp. 284 $246K Add +0.7% VRTX Vertex Pharmaceuticals Inc. 537 $240K Add +0.9% MDGL Madrigal Pharmaceuticals Inc. 433 $227K Reduce -30.7% ZTS Zoetis Inc. 1,796 $212K Add +0.5% INSM Insmed Inc. 1,296 $212K Reduce -48.1% VNET Vnet Group Inc.-ADR 24,794 $208K Reduce -50.5% BSX Boston Scientific Corp. 3,273 $205K Add +0.8% OI SA filed as OI SA-ADR 50,301 $13K No change
Options reported separately and not counted above: SOLS puts ($760K), STNE calls ($45K), EEM calls ($31K), STNE puts ($19K), ARM calls ($16K).
Portfolio Sells Q4 2025 → Q1 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▲ NGD New Gold Inc. Sold out 0.00% −47.36 SOLS Solstice Adv Materials Inc. Sold out 0.00% −6.32 RRC Range Resources Corp. Sold out 0.00% −4.18 EWZ iShares MSCI Brazil ETF Sold out 0.00% −1.88 MICC The Magnum Ice Cream Co. NV Sold out 0.00% −1.87 IBB iShares Biotechnology ETF Sold out 0.00% −0.68 SCHL Scholastic Corp. Sold out 0.00% −0.62 XME SS SPDR S&P Metals Mining Sold out 0.00% −0.60 INTR Inter & Co. Inc. Class A Sold out 0.00% −0.38 SCCO Southern Copper Corp. Sold out 0.00% −0.31 GGAL Grupo Financiero Galicia-ADR Sold out 0.00% −0.31 ACAD Acadia Pharmaceuticals Inc. Sold out 0.00% −0.22 BMA Banco Macro SA-ADR Sold out 0.00% −0.20 RYTM Rhythm Pharmaceuticals Inc. Sold out 0.00% −0.18 VEON Veon Ltd. Sold out 0.00% −0.15 GOOG Alphabet Inc. Class C Sold out 0.00% −0.15 IDXX Idexx Laboratories Inc. Sold out 0.00% −0.14 BBAR Bbva Argentina SA-ADR Sold out 0.00% −0.14 TCEHY Tencent Holdings Ltd.-Uns ADR Sold out 0.00% −0.13 AVGO Broadcom Inc. Sold out 0.00% −0.13 RVMD Revolution Medicines Inc. Sold out 0.00% −0.12 VNET Vnet Group Inc.-ADR Reduce -50.5% 0.93% +0.68 INSM Insmed Inc. Reduce -48.1% 0.95% +0.69 MDGL Madrigal Pharmaceuticals Inc. Reduce -30.7% 1.02% +0.80 NVDA Nvidia Corp. Reduce -36.8% 1.19% +0.92 TSM Taiwan Semiconductor-SP ADR Reduce -31.0% 1.57% +1.30 ONC Beone Medicines Ltd.-ADR Reduce -33.1% 2.28% +1.82 INCY Incyte Corp. Reduce -38.2% 2.37% +1.84 STNE Stoneco Ltd. Class A Reduce -82.1% 30.11% +6.88 NU Nu Holdings Ltd./Cayman Isl-A Reduce -19.4% 15.19% +12.30
Portfolio Buys Q4 2025 → Q1 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▼ XP XP Inc. Class A Add +3.8% 22.18% +19.76 LLY Eli Lilly & Co. Add +1.1% 5.08% +4.31 ABBV Abbvie Inc. Add +0.5% 3.00% +2.58 JNJ Johnson & Johnson Add +0.4% 2.34% +2.08 BMY Bristol-Myers Squibb Co. Add +0.4% 1.68% +1.48 TMO Thermo Fisher Scientific Inc. Add +0.9% 1.55% +1.31 ISRG Intuitive Surgical Inc. Add +0.9% 1.55% +1.30 GILD Gilead Sciences Inc. Add +0.4% 1.46% +1.29 ABT Abbott Laboratories Add +1.2% 1.43% +1.20 MCK McKesson Corp. Add +0.7% 1.10% +0.97 VRTX Vertex Pharmaceuticals Inc. Add +0.9% 1.08% +0.93 ZTS Zoetis Inc. Add +0.5% 0.95% +0.82 BSX Boston Scientific Corp. Add +0.8% 0.92% +0.74
Options Activity Q4 2025 → Q1 2026 Security Type Change vs Q4 2025 Underlying Shares Value ▼ SOLS Solstice Adv Materials Inc. put New 2,000 $760K KTOS Kratos Defense & Security call Sold out 335 $229Kbefore exit VNET Vnet Group Inc.-ADR call Sold out 648 $185Kbefore exit STNE Stoneco Ltd. Class A call Add +8.4% 570 $45K EEM iShares MSCI Emerging Market call New 3,055 $31K STNE Stoneco Ltd. Class A put New 570 $19K ARM Arm Holdings PLC-ADR call New 130 $16K KTOS Kratos Defense & Security put Sold out 861 $10Kbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 29 $44.8M XP, SPY, SFTBY, VEON, PROSY Q1 2026 23 $22.3M STNE, XP, NU, LLY, ABBV Q4 2025 44 $168.9M NGD, STNE, SOLS, RRC, NU Q3 2025 32 $171.4M NGD, STNE, XP, NU, ONC Q2 2025 45 $204.3M STNE, NGD, XP, KTOS, IBIT Q1 2025 34 $130.7M STNE, NGD, PPLT, XP, CAPRI HOLDINGS LTD Q4 2024 39 $43.9M NGD, STNE, LLY, ONC, INCY Q3 2024 39 $51.1M NGD, STNE, RYTM, LLY, ONC Q2 2024 41 $78.8M STNE, NU, CUCSF, DSKYF, SPGI Q1 2024 58 $155.5M BYDDF, XP, STNE, NU, NGD