Banco BTG Pactual S.A.

Q4 2025 13F-HR Holdings

Location
Rio De Janeiro, D5
Holdings as of
12/31/2025
Date filed
2/12/2026
Form type
13F-HR
Num holdings
163
Total value ($000)
$585,097
Net value change ($000)
-99,845 (-14.6%)
New positions
78
Sold out positions
72
Turnover %
62.8%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/13/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
TSM 15,713 88.6%
NVDA 15,150 40.5%
FLUT 10,752 NEW
NU 8,301 104.3%
BKNG 8,208 150.2%
LTM 7,024 517.2%
ADBE 7,000 NEW
LLY 6,706 NEW
NKE 6,319 NEW
SBS 5,058 NEW
Top Reduces (Value $000, Stocks/ETFs)
JBS -143,175 -100.0%
KWEB -21,455 -100.0%
C -10,488 -74.1%
EEM -8,616 -100.0%
SPLV -8,307 -58.2%
GDX -8,187 -97.4%
QQQ -6,225 -100.0%
UNH -5,327 -90.9%
JPM -4,668 -58.4%
GOOGL -4,563 -24.8%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 20,602 (3.5% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type