Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (55 quarters reported)
$134M in Q4 2012 → $898M now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| X- Xp Inc - Class A | 8.7% | Added 305% | 4,813,132 | $78.3M |
| LA Latam Airlines Group-sp ADR | 6.8% | Added 19% | 1,046,638 | $61M |
| TG Transport Gas Sur B ADR | 6.0% | Added 77% | 1,815,590 | $54M |
| PE Pampa Energia Sa | 5.0% | Added 235% | 547,637 | $45M |
| Vinci Compass Investments Ltd | 4.8% | Trimmed 4.9% | 4,441,517 | $43.2M |
| Arcos Dorados Holdings Inc | 4.0% | Trimmed 24% | 4,501,327 | $36.3M |
| SL Stoneco Ltd-a | 3.6% | Trimmed 61% | 3,004,035 | $32.6M |
| ES Embraer Sa | 3.6% | Added 42% | 503,225 | $32.1M |
| BB Banco Bradesco | 3.4% | Trimmed 20% | 8,863,299 | $30.8M |
| TA Telecom Argentina | 3.4% | Added 217% | 2,320,411 | $30.2M |
| Halliburton Co | 3.3% | New | 876,300 | $29.8M |
| Rio Tinto PLC | 3.3% | Added 534% | 308,586 | $29.3M |
| Microsoft Corporation | 2.7% | New | 64,457 | $24M |
| Intercorp Financial Services | 2.5% | Added 200673% | 401,546 | $22.9M |
| NC Nvidia Corporation Cmn | 2.5% | Trimmed 57% | 112,739 | $22.6M |
| AC Alphabet Inc Class A Common Stock | 2.4% | New | 61,250 | $21.9M |
| Freeport-mcmoran Inc | 2.4% | New | 344,076 | $21.6M |
| IM Ishares Msci Brazil ETF | 2.2% | Added 18% | 581,348 | $20.1M |
| Micron Technology Inc | 2.2% | Added 7846% | 17,083 | $19.7M |
| I& Inter & Co Inc - Cl A | 2.1% | Trimmed 15% | 3,414,933 | $18.5M |
| Credicorp | 1.9% | Trimmed 35% | 43,967 | $17.1M |
| MI Mastercard Incorporated Cmn Class A | 1.8% | New | 31,702 | $16.3M |
| VC Visa Inc. Cmn Class A | 1.7% | New | 45,517 | $15.6M |
| MP Meta Platforms Inc-class A Cmn Class A | 1.6% | Added 207% | 26,027 | $14.7M |
| PB Petroleo Brasileiro Sa Petro | 1.6% | Trimmed 86% | 992,898 | $14.5M |
| AC Amazon.com Inc Cmn | 1.6% | Trimmed 3.0% | 60,746 | $14.5M |
| TS Taiwan Semiconductor Mfg Ads Ltd Ads 1ads Equals 5ords | 1.5% | Trimmed 52% | 28,621 | $13.7M |
| Banco Santander Chile | 1.2% | Added 496% | 336,710 | $11.1M |
| GC Grupo Cibest Sa-adr | 0.9% | Added 508% | 98,727 | $7.84M |
| Lumentum Holdings Inc | 0.8% | New | 8,875 | $7.62M |
| Western Digital | 0.8% | New | 11,300 | $7.22M |
| Coherent Corp | 0.7% | New | 16,750 | $6.61M |
| VS Vale Sa Sp ADR | 0.7% | Trimmed 93% | 398,493 | $5.99M |
| CP Cia Paranaense De Ener-adr | 0.6% | Trimmed 48% | 466,331 | $5.43M |
| AO Applied Optoelr | 0.6% | Unchanged | 35,500 | $5.26M |
| Seagate Technology Holdings | 0.6% | New | 5,200 | $5.02M |
| GF Grupo Financiero Galicia | 0.5% | New | 85,000 | $4.25M |
| ST Spotify Technology S.a. Cmn | 0.4% | New | 8,626 | $3.96M |
| Itau Unibanco Holding Sa | 0.4% | New | 479,169 | $3.91M |
| OH On Holding Ag Cmn Class A | 0.4% | New | 108,412 | $3.84M |
| BH Booking Holdings Inc. Cmn | 0.4% | New | 19,961 | $3.56M |
| BC Broadcom Inc. Cmn | 0.3% | New | 7,098 | $2.68M |
| AC Apple Inc. Cmn | 0.3% | New | 7,800 | $2.26M |
| BS Basic Sanitation Company Of The State Of | 0.2% | Added 98% | 352,413 | $2.04M |
| UP Ultrapar Participacoes | 0.2% | Trimmed 27% | 378,023 | $1.9M |
| TC Teradyne Inc Cmn | 0.2% | New | 3,864 | $1.87M |
| SC Sharkninja, Inc. Cmn | 0.2% | Trimmed 89% | 11,808 | $1.8M |
| AR Acm Research, Inc. Cmn Class A | 0.2% | New | 13,815 | $1.75M |
| BM Banco Macro Bansud Sa | 0.2% | New | 18,567 | $1.72M |
| OC Oracle Corporation Cmn | 0.2% | New | 11,365 | $1.67M |
| CW Costco Wholesale Corporation Cmn | 0.2% | New | 1,600 | $1.5M |
| WC Walmart Inc Cmn | 0.2% | New | 13,205 | $1.5M |
| NC Natera, Inc. Cmn | 0.2% | New | 5,400 | $1.47M |
| RM Robinhood Markets, Inc. Cmn | 0.2% | New | 14,338 | $1.44M |
| PB Petroleo Brasileiro ADR | 0.1% | Trimmed 95% | 80,480 | $1.3M |
| Eve Holding Inc | 0.1% | Trimmed 82% | 414,632 | $1.04M |
| AE Axia Energia Sa | 0.1% | Added 7565% | 98,495 | $1.04M |
| AM Applied Materials Inc Cmn | 0.1% | New | 1,250 | $904K |
| CE Compnhia Enrg | 0.1% | Added 12% | 412,092 | $865K |
| HS Hyperliquid Strategies Inc Cmn | 0.1% | New | 109,330 | $860K |
Showing top 60 of 79 positions.
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 19, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS State Street Consumer Staples | Exited | −1,466,111 | −$120M | — |
| PB Petroleo Brasileiro Sa Petro | Trimmed | −5,881,807 | −$86.1M | 1.6% |
| VS Vale Sa Sp ADR | Trimmed | −5,141,115 | −$77.3M | 0.7% |
| X- Xp Inc - Class A | Added | +3,626,059 | +$59M | 8.7% |
| IM Ishares Msci Chn | Exited | −972,000 | −$54.6M | — |
| SL Stoneco Ltd-a | Trimmed | −4,723,979 | −$51.2M | 3.6% |
| NH Nu Holdings Ltd/cayman Isl-a | Exited | −2,569,755 | −$36.9M | — |
| PE Pampa Energia Sa | Added | +383,994 | +$31.5M | 5.0% |
| NC Nvidia Corporation Cmn | Trimmed | −150,461 | −$30.1M | 2.5% |
| Halliburton Co | New | +876,300 | +$29.8M | 3.3% |
Showing the 10 largest of 117 changes.
quarter ended March 31, 2026 · filed May 06, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS State Street Consumer Staples | New | +1,466,111 | +$120M | 10.0% |
| PB Petroleo Brasileiro Sa Petro | Added | +5,701,654 | +$107M | 10.7% |
| VS Vale Sa Sp ADR | Added | +5,144,590 | +$81.9M | 7.3% |
| KC Kraneshares Csi China | Exited | −2,075,400 | −$70.7M | — |
| PB Petroleo Brasileiro ADR | Trimmed | −3,154,716 | −$65.5M | 3.0% |
| X- Xp Inc - Class A | Trimmed | −3,008,306 | −$57.3M | 1.9% |
| SS State Street SPDR S&P 500 ETF | Exited | −81,424 | −$55.5M | — |
| IM Ishares Msci Chn | New | +972,000 | +$54.6M | 4.5% |
| First Solar Inc | Exited | −204,250 | −$53.4M | — |
| Credicorp | Trimmed | −131,680 | −$44.7M | 1.9% |
Showing the 10 largest of 93 changes.
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VS Vale Sa Sp ADR | Trimmed | −10,673,385 | −$139M | 0.5% |
| IM Ishares Msci Emerging Markets ETF | Exited | −1,480,000 | −$79M | — |
| SL Stoneco Ltd-a | Added | +4,783,158 | +$70.7M | 7.9% |
| KC Kraneshares Csi China | New | +2,075,400 | +$70.7M | 7.2% |
| SS State Street SPDR S&P 500 ETF | New | +81,424 | +$55.5M | 5.7% |
| IM Ishares Msci Brazil ETF | Exited | −1,600,000 | −$49.6M | — |
| Vistra Corp | Exited | −212,500 | −$41.6M | — |
| X- Xp Inc - Class A | Added | +2,195,087 | +$35.9M | 7.0% |
| PB Petroleo Brasileiro ADR | Trimmed | −3,029,424 | −$35.9M | 5.9% |
| LA Latam Airlines Group-sp ADR | Trimmed | −606,858 | −$32.8M | 1.8% |
Showing the 10 largest of 180 changes.
quarter ended September 30, 2025 · filed November 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VS Vale Sa Sp ADR | Added | +8,327,112 | +$90.4M | 10.0% |
| IC Ishares Core S&P Small-cap ETF | Exited | −787,565 | −$86.1M | — |
| IM Ishares Msci Emerging Markets ETF | Added | +1,360,000 | +$72.6M | 6.6% |
| Constellation Energy Corp | Exited | −143,000 | −$46.2M | — |
| Talen Energy Corp | Trimmed | −104,070 | −$44.3M | 2.4% |
| IM Ishares Msci Brazil ETF | Added | +1,400,000 | +$43.4M | 4.1% |
| LA Latam Airlines Group-sp ADR | Added | +911,847 | +$41.3M | 3.5% |
| PB Petroleo Brasileiro ADR | Added | +2,926,482 | +$37M | 8.3% |
| Meta Platforms Inc | Trimmed | −47,900 | −$35.2M | 0.7% |
| X- Xp Inc - Class A | Added | +1,722,467 | +$32.4M | 3.1% |
Showing the 10 largest of 213 changes.
quarter ended June 30, 2025 · filed August 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P Midcap 400 ETF | Exited | −86,698 | −$46.3M | — |
| X- Xp Inc - Class A | Trimmed | −2,219,790 | −$44.8M | 0.5% |
| PB Petroleo Brasileiro ADR | Added | +3,470,112 | +$43.4M | 5.8% |
| Constellation Energy Corp | Added | +130,500 | +$42.1M | 4.3% |
| IC Ishares Core S&P Small-cap ETF | Added | +332,699 | +$36.4M | 8.0% |
| Meta Platforms Inc | Added | +46,930 | +$34.6M | 4.1% |
| PD Pagseguro Digital Ltd-cl A | Exited | −4,147,775 | −$31.6M | — |
| Amazon.com Inc | Added | +118,400 | +$26M | 3.6% |
| VS Vale Sa Sp ADR | Trimmed | −2,646,753 | −$25.7M | 2.5% |
| Vistra Corp | Added | +127,000 | +$24.6M | 6.3% |
Showing the 10 largest of 157 changes.
quarter ended March 31, 2025 · filed May 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| X- Xp Inc - Class A | New | +2,497,615 | +$34.3M | 4.4% |
| PD Pagseguro Digital Ltd-cl A | Added | +2,648,191 | +$20.2M | 4.1% |
| Arcos Dorados Holdings Inc | New | +2,506,774 | +$20.2M | 2.6% |
| Bp PLC | Trimmed | −588,374 | −$19.9M | 0.7% |
| DT Dell Technologies -c | Exited | −171,000 | −$19.7M | — |
| VS Vale Sa Sp ADR | Added | +1,864,011 | +$18.6M | 6.9% |
| IS Invesco S&P 500 Equal Weight E | Trimmed | −90,788 | −$15.7M | 1.6% |
| SS SPDR S&P Midcap 400 ETF | Trimmed | −27,208 | −$14.5M | 6.0% |
| SL Stoneco Ltd-a | Exited | −1,813,588 | −$14.5M | — |
| Adecoagro Sa | New | +1,227,609 | +$13.7M | 1.8% |
Showing the 10 largest of 155 changes.
quarter ended December 31, 2024 · filed February 07, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IS Invesco S&P 500 Equal Weight E | Trimmed | −733,105 | −$128M | 4.3% |
| IM Ishares Msci Emerging Markets ETF | Exited | −2,310,955 | −$106M | — |
| SS SPDR S&P Midcap 400 ETF | New | +113,906 | +$64.9M | 9.7% |
| IC Ishares Core S&P Small-cap ETF | New | +519,486 | +$59.9M | 9.0% |
| VS Vale Sa Sp ADR | Trimmed | −3,256,181 | −$28.9M | 4.7% |
| Rio Tinto PLC | Trimmed | −406,294 | −$23.9M | 0.2% |
| IM Ishares Msci South Korea ETF | Exited | −345,857 | −$22.1M | — |
| VH Vertiv Holdings LLC | New | +190,000 | +$21.6M | 3.2% |
| Amazon.com Inc | New | +95,300 | +$20.9M | 3.1% |
| DT Dell Technologies -c | New | +171,000 | +$19.7M | 3.0% |
Showing the 10 largest of 135 changes.
quarter ended September 30, 2024 · filed December 12, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VS Vale Sa Sp ADR | Trimmed | −15,189,723 | −$177M | 10.5% |
| IS Invesco S&P 500 Equal Weight E | Added | +839,150 | +$150M | 21.2% |
| IM Ishares Msci Emerging Markets ETF | New | +2,310,955 | +$106M | 14.0% |
| PD Pagseguro Digital Ltd-cl A | New | +4,430,978 | +$38.2M | 5.0% |
| Rio Tinto PLC | Added | +404,131 | +$28.8M | 4.0% |
| SS Streettracks SPDR Oil & Gas Exploration | Exited | −171,674 | −$25M | — |
| Credicorp | New | +123,141 | +$22.3M | 2.9% |
| TS Taiwan Semi ADR | Trimmed | −119,645 | −$20.8M | 0.5% |
| SL Stoneco Ltd-a | Trimmed | −1,628,091 | −$18.3M | 0.1% |
| ES Embraer Sa | Exited | −661,828 | −$17.1M | — |
Showing the 10 largest of 112 changes.
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