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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
13F HOLDINGS REPORT

BTG Pactual Asset Management US LLC

Quarter ended Q2 2025 · Filed August 14, 2025 · Accession 0001085146-25-005197

Total Value
$913.1M
Positions
248
Other Managers
2
Confidential Omitted
No
View on SEC.gov

Holdings (248)

#IssuerTicker / CUSIPSharesValue% of Filing
1SPDR S&P 500 ETF TRSPY211,732$130.8M14.33%
2ISHARES TR464287614170,849$72.5M7.94%
3VANGUARD WORLD FD92191081688,811$32.5M3.56%
4VANGUARD WORLD FD921910840197,592$25.9M2.84%
5SPDR S&P 500 ETF TRSPY41,900$25.9M2.84%
6VANGUARD INTL EQUITY INDEX F922042874290,662$22.5M2.47%
7BERKSHIRE HATHAWAY INC DELBRK-A46,106$22.4M2.45%
8SANDISK CORPSNDK400,000$18.1M1.99%
9NVIDIA CORPORATIONNVDA113,573$17.9M1.97%
10JPMORGAN CHASE & CO.VYLD57,808$16.8M1.84%
11MICROSOFT CORPMSFT28,554$14.2M1.56%
12AMAZON COM INCAMZN62,121$13.6M1.49%
13SPDR GOLD TRGLD38,294$11.7M1.28%
14SELECT SECTOR SPDR TR81369Y605215,637$11.3M1.24%
15VANGUARD INDEX FDS92290862939,133$11.0M1.20%
16ALPHABET INCGOOG61,674$10.9M1.20%
17VISTRA CORPVST54,916$10.6M1.17%
18VANGUARD INTL EQUITY INDEX F922042858211,997$10.5M1.15%
19KRANESHARES TRUST500767306303,800$10.4M1.14%
20SELECT SECTOR SPDR TR81369Y20976,939$10.4M1.14%
21PPL CORPPPLC294,111$10.0M1.09%
22MICROSOFT CORPMSFT20,000$9.9M1.09%
23MICROSOFT CORPMSFT20,000$9.9M1.09%
24META PLATFORMS INCMETA12,998$9.6M1.05%
25DUKE ENERGY CORP NEWDUKB77,542$9.1M1.00%
26CONSTELLATION ENERGY CORPCEG28,073$9.1M0.99%
27SERVICENOW INCNOW8,792$9.0M0.99%
28ISHARES INC46434G822114,262$8.6M0.94%
29ALLIANT ENERGY CORPLNT129,848$7.9M0.86%
30FIRSTENERGY CORPFE190,743$7.7M0.84%
31CITIGROUP INCC-PR87,800$7.5M0.82%
32CITIGROUP INCC-PR87,800$7.5M0.82%
33AMEREN CORPAEE75,661$7.3M0.80%
34VANGUARD INDEX FDS92290875129,113$6.9M0.76%
35AMERICAN ELEC PWR CO INC02553710161,235$6.4M0.70%
36VANGUARD WORLD FD92204A7029,324$6.2M0.68%
37ISHARES TR464287234127,400$6.1M0.67%
38DISNEY WALT CO25468710648,200$6.0M0.65%
39DISNEY WALT CO25468710648,200$6.0M0.65%
40GE VERNOVA INCGEV11,063$5.9M0.64%
41BANK AMERICA CORP060505104123,400$5.8M0.64%
42BANK AMERICA CORP060505104123,400$5.8M0.64%
43SPDR SERIES TRUST78464A69894,500$5.6M0.61%
44VANGUARD WORLD FD92204A40544,046$5.6M0.61%
45MEDTRONIC PLCMDT63,500$5.5M0.61%
46MEDTRONIC PLCMDT63,500$5.5M0.61%
47INVESCO QQQ TRIVZ10,000$5.5M0.60%
48INVESCO QQQ TRIVZ10,000$5.5M0.60%
49GLOBAL X FDS37954Y29386,425$5.4M0.59%
50KELLANOVABEKE65,986$5.2M0.57%
51XCEL ENERGY INCXELLL73,368$5.0M0.55%
52VANGUARD WORLD FD92204A50420,048$5.0M0.55%
53JBS N.V.JBS340,317$5.0M0.54%
54HESS CORPHESM35,483$4.9M0.54%
55CROWDSTRIKE HLDGS INCCRWD9,277$4.6M0.51%
56EXELON CORPEXC104,733$4.5M0.50%
57ISHARES SILVER TRSLV128,217$4.2M0.46%
58ISHARES TR46429B74739,174$4.1M0.44%
59ISHARES TR46428723481,900$4.0M0.43%
60ISHARES INC46428666579,459$3.9M0.43%
61ISHARES TR46428724233,833$3.7M0.41%
62ESSENTIAL UTILS INC29670G10299,486$3.7M0.40%
63PUBLIC SVC ENTERPRISE GRP IN74457310643,278$3.6M0.40%
64VANGUARD INDEX FDS92290855340,851$3.6M0.40%
65ISHARES TR46428765515,853$3.4M0.37%
66INVESCO CURRENCYSHARES EUROFXE29,900$3.3M0.36%
67INVESCO CURRENCYSHARES EUROFXE29,900$3.3M0.36%
68SPDR DOW JONES INDL AVERAGE78467X1097,948$3.2M0.35%
69UNITED STS OIL FD LPUNTCW42,000$3.1M0.34%
70MORGAN STANLEYMS-PQ20,600$2.9M0.32%
71MORGAN STANLEYMS-PQ20,600$2.9M0.32%
72VANGUARD MUN BD FDS92290774659,120$2.9M0.32%
73SPDR INDEX SHS FDS78463X20245,500$2.7M0.30%
74EVERGY INCEVRG39,144$2.7M0.30%
75UNITED RENTALS INCURI3,354$2.5M0.28%
76ALPS ETF TR00162Q45251,681$2.5M0.28%
77GALLAGHER ARTHUR J & CO3635761097,424$2.4M0.26%
78MILLICOM INTL CELLULAR S AL6388F11063,416$2.4M0.26%
79WALGREENS BOOTS ALLIANCE INC931427108199,600$2.3M0.25%
80WALGREENS BOOTS ALLIANCE INC931427108199,600$2.3M0.25%
81SELECT SECTOR SPDR TR81369Y85221,000$2.3M0.25%
82CHENIERE ENERGY INCLNG9,261$2.3M0.25%
83STRYKER CORPORATIONSYK6,056$2.3M0.25%
84KINDER MORGAN INC DELEP-PC76,543$2.3M0.25%
85ELI LILLY & COLLY2,875$2.2M0.25%
86PIMCO ETF TR72201R86643,332$2.2M0.24%
87ROYAL BK CDA78008710216,800$2.2M0.24%
88HCA HEALTHCARE INCHCA5,800$2.0M0.22%
89ISHARES TR46428755615,626$2.0M0.22%
90FIRST TR EXCHANGE-TRADED FD33738D10152,230$2.0M0.21%
91NIO INCNIOIF3,000,000$1.9M0.21%
92FRONTIER COMMUNICATIONS PARE35909D10952,632$1.9M0.21%
93VISA INCV5,387$1.9M0.21%
94ABBVIE INCABBV10,223$1.9M0.21%
95TAIWAN SEMICONDUCTOR MFG LTD8740391008,158$1.8M0.20%
96GOLDMAN SACHS GROUP INCGSCE2,600$1.8M0.20%
97GOLDMAN SACHS GROUP INCGSCE2,600$1.8M0.20%
98S&P GLOBAL INCSPGI3,476$1.8M0.20%
99CENTERPOINT ENERGY INCCNP49,387$1.8M0.20%
100NISOURCE INCNI44,974$1.8M0.20%
101NU HLDGS LTDNU132,158$1.8M0.20%
102ISHARES INC46434G77229,000$1.7M0.18%
103ISHARES INC46434G77229,000$1.7M0.18%
104VANGUARD INDEX FDS9229087695,279$1.6M0.18%
105DANAHER CORPORATION2358511027,605$1.5M0.17%
106UNITEDHEALTH GROUP INCUNH4,640$1.4M0.16%
107MERCK & CO INCMRK17,879$1.4M0.15%
108ISHARES TR46429B59824,500$1.4M0.15%
109SELECT SECTOR SPDR TR81369Y7049,230$1.4M0.15%
110PG&E CORPPCG-PX97,106$1.4M0.15%
111WILLIAMS COS INC96945710021,461$1.3M0.15%
112JUNIPER NETWORKS INC48203R10432,422$1.3M0.14%
113ISHARES TR46435U85334,185$1.3M0.14%
114VANGUARD SPECIALIZED FUNDS9219088445,985$1.2M0.13%
115SPIRIT AEROSYSTEMS HLDGS INC84857410931,579$1.2M0.13%
116FLUTTER ENTMT PLCG3643J1084,174$1.2M0.13%
117GLOBAL X FDS37954Y83023,188$1.0M0.11%
118FOOT LOCKER INC34484910441,200$1.0M0.11%
119BROADCOM INCAVGO3,488$961,4670.11%
120J P MORGAN EXCHANGE TRADED F46641Q64719,193$952,7410.10%
121TRANSALTA CORPTACPF83,781$903,9970.10%
122ARCHROCK INCAROC35,856$890,3040.10%
123ANSYS INC03662Q1052,395$841,1720.09%
124ISHARES INC46428650917,600$813,1200.09%
125ISHARES INC46428650917,600$813,1200.09%
126MERCADOLIBRE INCMELI274$716,1350.08%
127BLUEPRINT MEDICINES CORP09627Y1095,000$640,9000.07%
128ISHARES TR4642872001,022$634,5600.07%
129SKECHERS U S A INC83056610510,000$631,0000.07%
130SPDR SERIES TRUST78464A8707,518$623,4680.07%
131KINETIK HOLDINGS INCKNTK13,567$597,6260.07%
132VANGUARD INDEX FDS9229087443,184$562,7400.06%
133MASTERCARD INCORPORATEDMA968$543,9580.06%
134ISHARES INC46434G1038,993$539,8500.06%
135BLACKROCK MUNIHOLDINGS QUALIBLK56,257$538,9420.06%
136BLACKROCK LTD DURATION INCOMBLK37,630$533,5930.06%
137PRINCIPAL EXCHANGE TRADED FD74255Y88828,025$531,6340.06%
138UBER TECHNOLOGIES INCUBER5,647$526,8650.06%
139SCORPIO TANKERS INCSTNG13,224$517,4550.06%
140COSTCO WHSL CORP NEW22160K105500$494,9700.05%
141ADOBE INCADBE1,200$464,2560.05%
142APPLOVIN CORPAPP1,280$448,1020.05%
143GRUPO FINANCIERO GALICIA S.AGGAL8,577$432,1950.05%
144SELECT SECTOR SPDR TR81369Y3085,263$426,1450.05%
145BLACKROCK MUN INCOME QUALITYBLK38,860$410,3620.04%
146ISHARES TR4642885134,914$396,3140.04%
147HOME DEPOT INCHD1,058$387,9050.04%
148NEXPOINT DIVERSIFIED REL ET65340G20583,814$351,1810.04%
149MCDONALDS CORPMCD1,200$350,6040.04%
150ISHARES TR4642886466,407$338,0330.04%
151GE AEROSPACE3696043011,306$336,1510.04%
152ISHARES TR4642886385,942$316,6490.03%
153BOOKING HOLDINGS INCBKNG54$312,6190.03%
154SPOTIFY TECHNOLOGY S ASPOT407$312,3070.03%
155ISHARES TR46428739011,893$311,7160.03%
156APPLE INCAAPL1,500$307,7550.03%
157TJX COS INC NEW8725401092,465$304,4030.03%
158CHAMPIONX CORPORATION15872M10412,250$304,2900.03%
159TALEN ENERGY CORPTLN1,022$297,1670.03%
160APPLE INCAAPL1,349$276,7440.03%
161CYBERARK SOFTWARE LTDM2682V108666$270,9820.03%
162ISHARES TR4642871682,040$270,9320.03%
163VANGUARD STAR FDS9219097683,849$265,9270.03%
164VANGUARD WORLD FD92204A8841,550$265,0970.03%
165ALPHABET INCGOOG1,503$264,8740.03%
166OCCIDENTAL PETE CORP6745991056,130$257,5210.03%
167EQUINIX INCEQIX328$257,5160.03%
168VANECK ETF TRUST92189F35312,821$254,1120.03%
169BLACKSTONE STRATEGIC CRED 20BX20,879$253,0530.03%
170PIMCO ETF TR72201R7752,729$251,5590.03%
171SALESFORCE INCCRM912$248,6930.03%
172ISHARES TR46429B6632,122$248,6350.03%
173VANGUARD INTL EQUITY INDEX F9220427421,834$235,7060.03%
174AMBEV SAABEV97,668$235,3800.03%
175INVESCO EXCH TRADED FD TR IIIVZ4,877$231,9500.03%
176KRANESHARES TRUST5007673066,653$228,3970.03%
177ISHARES INC4642863921,470$225,1750.02%
178SPDR S&P MIDCAP 400 ETF TRMDY410$218,7270.02%
179VANECK ETF TRUST92189F676726$202,4670.02%
180SALESFORCE INCCRM700$190,8830.02%
181COMPANIA CERVECERIAS UNIDAS20442910414,656$189,3560.02%
182BLACKROCK MUNIYILD QULT FD IBLK16,937$188,1700.02%
183ISHARES TR46429B6971,760$165,2110.02%
184ISHARES INC4642867722,291$164,4480.02%
185VANGUARD WORLD FD92204A108440$159,4210.02%
186SPDR SERIES TRUST78468R6221,636$159,1340.02%
187MCDONALDS CORPMCD520$151,9280.02%
188ISHARES TR4642877622,475$139,7880.02%
189APPLE HOSPITALITY REIT INCAPLE11,520$134,4380.01%
190PARAMOUNT GLOBAL92556H20610,400$134,1600.01%
191ISHARES TR4642877881,108$134,0570.01%
192ISHARES INC4642865092,664$123,0770.01%
193INVESCO EXCH TRADED FD TR IIIVZ5,870$122,8000.01%
194ISHARES TR464287622353$119,8680.01%
195VANGUARD INDEX FDS922908363211$119,8540.01%
196VANGUARD WORLD FD92204A306989$117,8100.01%
197GOLDMAN SACHS GROUP INCGSCE163$115,3630.01%
198WENDYS CO95058W10010,056$114,8400.01%
199ABBVIE INCABBV600$111,3720.01%
200SELECT SECTOR SPDR TR81369Y803439$111,1680.01%
201NVIDIA CORPORATIONNVDA700$110,5930.01%
202GLOBAL NET LEASE INCGNL-PE14,514$109,5810.01%
203SPDR SERIES TRUST78464A8881,072$105,6670.01%
204GRUPO AVAL ACCIONES Y VALOREAVAL35,147$98,7630.01%
205TELEFONICA S ATELFY17,404$91,0230.01%
206CITIGROUP INCC-PR1,060$90,2270.01%
207ISHARES TR46432F339492$89,9470.01%
208VIATRIS INCVTRS10,029$89,5590.01%
209ISHARES TR4642886872,692$82,5910.01%
210INVESCO EXCH TRADED FD TR IIIVZ1,150$82,3630.01%
211MFS INTER INCOME TR55273C10728,615$77,5470.01%
212ISHARES TR4642878611,091$69,0060.01%
213PLAYTIKA HLDG CORPPLTK13,607$64,3610.01%
214ABRDN INCOME CREDIT STRATEGIACP-PA10,360$61,1240.01%
215XEROX HOLDINGS CORPXRXDW10,453$55,0870.01%
216ISHARES INC46434G772720$41,3280.00%
217KELLANOVABEKE500$39,7650.00%
218VANGUARD INTL EQUITY INDEX F922042866478$39,2820.00%
219ISHARES TR464288182442$36,5180.00%
220ALPS ETF TR00162Q6761,009$32,5300.00%
221J P MORGAN EXCHANGE TRADED F46641Q332540$30,6990.00%
222COSTCO WHSL CORP NEW22160K10530$29,6980.00%
223ISHARES TR46435U135500$26,6050.00%
224ISHARES TR46429B655393$20,0510.00%
225ISHARES TR464287341489$19,2130.00%
226ISHARES TR464287382236$18,9070.00%
227VANGUARD INDEX FDS92290861193$18,1360.00%
228SELECT SECTOR SPDR TR81369Y100205$18,0010.00%
229SELECT SECTOR SPDR TR81369Y860353$14,6210.00%
230ISHARES INC464286608213$12,6630.00%
231ISHARES TR464287804108$11,8030.00%
232VANGUARD INDEX FDS92290865254$10,4060.00%
233ISHARES TR464287465110$9,8330.00%
234J P MORGAN EXCHANGE TRADED F46641Q233178$9,7010.00%
235ISHARES INC464286749176$9,6470.00%
236J P MORGAN EXCHANGE TRADED F46654Q203172$9,3570.00%
237SPDR SERIES TRUST78464A797128$7,1370.00%
238VANECK ETF TRUST92189F106126$6,5600.00%
239ISHARES TR464287507105$6,5120.00%
240ISHARES TR46432F39624$5,7680.00%
241ISHARES TR46428883687$5,7020.00%
242ISHARES TR46428770540$4,9430.00%
243ISHARES TR46428749949$4,5070.00%
244ISHARES TR46429B67158$3,1960.00%
245VANGUARD INDEX FDS92290851215$2,4670.00%
246ISHARES TR46428748111$1,5250.00%
247ISHARES TR46429B68912$1,0090.00%
248INVESCO EXCH TRADED FD TR IIIVZ19$6510.00%