BTG Pactual Asset Management US LLC Q1 2025 Filing

Filed May 15, 2025

Portfolio Value

$934.2M

Holdings

221

Report Date

Q1 2025

Filing Type

13F-HR

All Holdings (221 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	SPYSPDR S&P 500 ETF TR	232,715	$130.2M	13.93%	Put
2	IWFISHARES TR	177,976	$64.3M	6.88%
3	GQ9SPDR GOLD TR	151,622	$43.7M	4.68%	Put
4	GOOGALPHABET INC	260,301	$40.7M	4.35%
5	BRK/BBERKSHIRE HATHAWAY INC DEL	49,821	$26.5M	2.84%
6	MGVVANGUARD WORLD FD	187,915	$24.2M	2.59%
7	CPRICAPRI HOLDINGS LIMITED	1,102,148	$21.7M	2.33%
8	NVDANVIDIA CORPORATION	197,115	$21.4M	2.29%	Put
9	MGKVANGUARD WORLD FD	67,306	$20.8M	2.23%
10	VGKVANGUARD INTL EQUITY INDEX F	290,425	$20.4M	2.18%
11	CORZCORE SCIENTIFIC INC NEW	2,500,000	$18.1M	1.94%
12	PEPPEPSICO INC	94,730	$14.2M	1.52%	Put
13	AVGOBROADCOM INC	79,062	$13.2M	1.42%	Put
14	JPMJPMORGAN CHASE & CO.	50,491	$12.4M	1.33%	Put
15	AMZNAMAZON COM INC	63,538	$12.1M	1.29%
16	XLVSELECT SECTOR SPDR TR	82,418	$12.0M	1.29%	Put
17	MSFTMICROSOFT CORP	30,142	$11.3M	1.21%	Call
18	XLFSELECT SECTOR SPDR TR	224,266	$11.2M	1.20%
19	METAMETA PLATFORMS INC	18,697	$10.8M	1.15%	Call
20	PYPLPAYPAL HLDGS INC	154,737	$10.1M	1.08%	Put
21	CLCOLGATE PALMOLIVE CO	105,849	$9.9M	1.06%	Put
22	VOVANGUARD INDEX FDS	36,918	$9.5M	1.02%
23	BABAALIBABA GROUP HLDG LTD	70,101	$9.3M	0.99%	Put
24	VWOVANGUARD INTL EQUITY INDEX F	204,764	$9.3M	0.99%
25	FDXFEDEX CORP	35,559	$8.7M	0.93%	Put
26	PBRPETROLEO BRASILEIRO SA PETRO	564,270	$8.1M	0.87%
27	NUNU HLDGS LTD	783,744	$8.0M	0.86%	Put
28	EWJISHARES INC	113,611	$7.8M	0.83%
29	PCGPG&E CORP	441,799	$7.6M	0.81%
30	NBISNEBIUS GROUP N.V.	350,000	$7.4M	0.79%
31	XELXCEL ENERGY INC	101,528	$7.2M	0.77%
32	ITUBITAU UNIBANCO HLDG S A	1,304,671	$7.2M	0.77%
33	FEFIRSTENERGY CORP	177,447	$7.2M	0.77%
34	VBVANGUARD INDEX FDS	29,728	$6.6M	0.71%
35	VSTVISTRA CORP	54,367	$6.4M	0.68%
36	NOWSERVICENOW INC	7,835	$6.2M	0.67%	Call
37	DUKDUKE ENERGY CORP NEW	50,496	$6.2M	0.66%
38	HESHESS CORP	38,555	$6.2M	0.66%
39	WBAWALGREENS BOOTS ALLIANCE INC	545,184	$6.1M	0.65%	Put
40	CNPCENTERPOINT ENERGY INC	166,398	$6.0M	0.65%
41	PPLPPL CORP	165,109	$6.0M	0.64%
42	KELKELLANOVA	71,771	$5.9M	0.63%
43	TSMTAIWAN SEMICONDUCTOR MFG LTD	34,530	$5.7M	0.61%	Put
44	SRESEMPRA	77,863	$5.6M	0.59%
45	NDQINVESCO QQQ TR	11,779	$5.5M	0.59%	Put
46	EAELECTRONIC ARTS INC	37,200	$5.4M	0.58%	Put
47	VFHVANGUARD WORLD FD	43,555	$5.2M	0.56%
48	AEEAMEREN CORP	51,417	$5.2M	0.55%
49	VHTVANGUARD WORLD FD	18,955	$5.0M	0.54%
50	DONSPDR DOW JONES INDL AVERAGE	11,695	$4.9M	0.53%	Put
51	VALEVALE S A	480,616	$4.8M	0.51%
52	DDOMINION ENERGY INC	82,769	$4.6M	0.50%
53	FEZSPDR INDEX SHS FDS	82,500	$4.5M	0.48%	Put
54	MLB1MERCADOLIBRE INC	2,082	$4.1M	0.43%
55	CRWDCROWDSTRIKE HLDGS INC	11,191	$3.9M	0.42%	Put
56	CEGCONSTELLATION ENERGY CORP	19,490	$3.9M	0.42%
57	EMLPFIRST TR EXCHANGE-TRADED FD	102,722	$3.9M	0.41%
58	BACBANK AMERICA CORP	91,718	$3.8M	0.41%
59	VOXVANGUARD WORLD FD	25,506	$3.8M	0.41%
60	VGTVANGUARD WORLD FD	6,876	$3.7M	0.40%
61	VNQVANGUARD INDEX FDS	39,920	$3.6M	0.39%
62	ENICENEL CHILE S.A.	1,089,800	$3.6M	0.38%
63	XLESELECT SECTOR SPDR TR	37,696	$3.5M	0.38%
64	EPPISHARES INC	79,598	$3.5M	0.38%
65	LQDISHARES TR	32,174	$3.5M	0.37%
66	STIPISHARES TR	32,843	$3.4M	0.36%
67	MLPXGLOBAL X FDS	52,696	$3.4M	0.36%
68	EUFNISHARES TR	107,563	$3.1M	0.33%	Put
69	ETRENTERGY CORP NEW	35,655	$3.0M	0.33%
70	AWCAMERICAN WTR WKS CO INC NEW	20,105	$3.0M	0.32%
71	ASHRDBX ETF TR	108,000	$2.9M	0.31%	Call
72	SAJACOMPANHIA DE SANEAMENTO BASI	154,370	$2.8M	0.30%
73	MCOMOODYS CORP	5,800	$2.7M	0.29%
74	VTEBVANGUARD MUN BD FDS	53,771	$2.7M	0.29%
75	RPRXROYALTY PHARMA PLC	76,943	$2.4M	0.26%
76	UNHUNITEDHEALTH GROUP INC	4,471	$2.3M	0.25%
77	SQMSOCIEDAD QUIMICA Y MINERA DE	58,700	$2.3M	0.25%
78	SYKSTRYKER CORPORATION	6,056	$2.3M	0.24%
79	MUNIPIMCO ETF TR	43,332	$2.2M	0.24%
80	LLYELI LILLY & CO	2,683	$2.2M	0.24%
81	FXIISHARES TR	61,004	$2.2M	0.23%
82	GGBGERDAU SA	765,924	$2.2M	0.23%
83	URIUNITED RENTALS INC	3,354	$2.1M	0.22%
84	ABBVABBVIE INC	9,838	$2.1M	0.22%
85	CMSCMS ENERGY CORP	27,178	$2.0M	0.22%
86	DFSEURDISCOVER FINL SVCS	11,893	$2.0M	0.22%
87	MAMASTERCARD INCORPORATED	3,672	$2.0M	0.22%
88	ITCIEURINTRA-CELLULAR THERAPIES INC	15,000	$2.0M	0.21%
89	TKOTKO GROUP HOLDINGS INC	12,898	$2.0M	0.21%
90	IBBISHARES TR	15,193	$1.9M	0.21%
91	XPXP INC	140,008	$1.9M	0.21%
92	HCAHCA HEALTHCARE INC	5,522	$1.9M	0.20%
93	TIGOMILLICOM INTL CELLULAR S A	62,807	$1.9M	0.20%
94	INTRINTER & CO INC	346,089	$1.9M	0.20%
95	CMCANADIAN IMPERIAL BK COMM	33,320	$1.9M	0.20%
96	AAPLAPPLE INC	8,337	$1.9M	0.20%
97	ADBEADOBE INC	4,700	$1.8M	0.19%	Call
98	FYBRFRONTIER COMMUNICATIONS PARE	50,000	$1.8M	0.19%
99	MRKMERCK & CO INC	19,057	$1.7M	0.18%	Call
100	SUZSUZANO S A	182,120	$1.7M	0.18%

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