Banco BTG Pactual S.A.
Long book
$512.6M
Q1 2026
Positions
102
Top-10 weight
65%
concentration
Last quarter
+7.8%
SPY +14.8%
Turnover
87%
of book per quarter
Strategy in plain words
auto-generated from filingsBanco BTG Pactual S.A. is a wealth-management firm allocating client money, running a $512.6M US long book across 102 positions.
The portfolio is concentrated: the top 10 names carry 65% of the portfolio. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: ISHR IBX USD HIYLD CB ETF-UI, SS SPDR S&P 500 ETF TRUST-US, ISHARES MSCI MEXICO ETF, VANGUARD S&P 500 ETF, ISHARES RUSSELL 2000 ETF.
Over the last 9 quarters its long book ran on average 0.3pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+0.3%
Q2 2024
+6.8%
Q3 2024
+4.7%
Q4 2024
-4.7%
Q1 2025
+21.0%
Q2 2025
+6.9%
Q3 2025
+1.9%
Q4 2025
-6.8%
Q1 2026
+7.8%
Sector allocation
Industrials 29%
Technology 28%
Consumer discretionary 13%
Materials 6%
Real estate 6%
Financials 5%
Consumer staples 4%
Energy 3%
Long book by quarter
What does Banco BTG own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AVGO BROADCOM INC | Technology | 70.2K | $21.7M | 4.2% | +96.6% |
| TSLA TESLA INC | Industrials | 52.1K | $19.4M | 3.8% | New |
| WMT WALMART INC | Consumer discretionary | 83.0K | $10.3M | 2.0% | New |
| CPA COPA HOLDINGS SA-CLASS A | Industrials | 85.0K | $9.7M | 1.9% | +742.4% |
| BN BROOKFIELD CORP | Real estate | 157.3K | $6.4M | 1.2% | +331.9% |
| AUGO AURA MINERALS INC | Materials | 76.8K | $6.3M | 1.2% | +1045.6% |
| AMZN AMAZON.COM INC | Consumer discretionary | 17.5K | $3.6M | 0.7% | -87.9% |
| NU NU HOLDINGS LTD/CAYMAN ISL-A | Financials | 240.7K | $3.5M | 0.7% | -75.2% |
| JBS JBS NV-A | Consumer staples | 191.1K | $3.4M | 0.7% | New |
| AMD ADVANCED MICRO DEVICES | Technology | 15.6K | $3.2M | 0.6% | New |
| XOM EXXON MOBIL CORP | Energy | 15.6K | $2.6M | 0.5% | New |
| NFLX NETFLIX INC | Services media | 13.2K | $1.3M | 0.2% | New |
| NVDA NVIDIA CORP | Technology | 5.7K | $994K | 0.2% | -98.0% |
| EXE EXPAND ENERGY CORP | Energy | 8.1K | $889K | 0.2% | New |
| MELI MERCADOLIBRE INC | Services media | 506 | $875K | 0.2% | -79.6% |
| CRWD CROWDSTRIKE HOLDINGS INC - A | Technology | 2.2K | $860K | 0.2% | +333.0% |
| CI THE CIGNA GROUP | Financials | 2.8K | $738K | 0.1% | New |
| ZETA ZETA GLOBAL HOLDINGS CORP-A | Technology | 42.0K | $668K | 0.1% | New |
| HWM HOWMET AEROSPACE INC | Industrials | 2.6K | $606K | 0.1% | -63.0% |
| MSFT MICROSOFT CORP | Technology | 1.6K | $591K | 0.1% | -98.0% |
| SNDK SANDISK CORP | Technology | 891 | $566K | 0.1% | -26.1% |
| AAPL APPLE INC | Technology | 2.2K | $564K | 0.1% | New |
| MU MICRON TECHNOLOGY INC | Technology | 1.5K | $502K | 0.1% | -50.8% |
| TMO THERMO FISHER SCIENTIFIC INC | Other | 1.0K | $494K | 0.1% | +16.9% |
| MA MASTERCARD INC - A | Services media | 957 | $478K | 0.1% | -91.0% |
| A AGILENT TECHNOLOGIES INC | Healthcare | 4.2K | $474K | 0.1% | New |
| GILD GILEAD SCIENCES INC | Healthcare | 3.1K | $438K | 0.1% | -46.8% |
| CRH CRH PLC | Industrials | 4.0K | $425K | 0.1% | +100.5% |
| COIN COINBASE GLOBAL INC -CLASS A | Financials | 2.4K | $411K | 0.1% | New |
| BG BUNGE GLOBAL SA | Consumer staples | 3.1K | $399K | 0.1% | New |
| UBER UBER TECHNOLOGIES INC | Services media | 4.6K | $331K | 0.1% | -93.8% |
| APO APOLLO GLOBAL MANAGEMENT INC | Financials | 2.7K | $302K | 0.1% | New |
| BX BLACKSTONE INC | Financials | 2.6K | $297K | 0.1% | New |
| KKR KKR & CO INC | Financials | 3.2K | $297K | 0.1% | New |
| SCCO SOUTHERN COPPER CORP | Materials | 1.6K | $279K | 0.1% | New |
| PH PARKER HANNIFIN CORP | Industrials | 307 | $275K | 0.1% | New |
| CPB THE CAMPBELL'S COMPANY | Consumer staples | 11.4K | $255K | 0.0% | New |
| UAL UNITED AIRLINES HOLDINGS INC | Industrials | 2.6K | $243K | 0.0% | New |
| XEL XCEL ENERGY INC | Utilities | 2.8K | $219K | 0.0% | New |
| NOW SERVICENOW INC | Technology | 2.1K | $216K | 0.0% | New |
| V VISA INC-CLASS A SHARES | Services media | 706 | $213K | 0.0% | -97.7% |
| PAGS PAGSEGURO DIGITAL LTD-CL A | Technology | 20.8K | $209K | 0.0% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 13, 2026 | 185 | $1.14B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 12, 2026 | 163 | $585.1M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 155 | $684.9M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 154 | $491.5M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 187 | $404.9M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 12, 2025 | 168 | $429.6M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 7, 2024 | 158 | $388.6M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 159 | $640.8M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 9, 2024 | 180 | $592.3M | canonical | SEC ↗ |