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SPX Gestao de Recursos Ltda

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13F filer, CIK 1589176, RIO DE JANEIRO, Brazil

SPX Gestao de Recursos Ltda reported $978,948,124 across 73 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-13. Its ten largest share positions make up 60.98% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001589176-26-000001

Period
2025-12-31
Reported value
$979M
Holdings
73
Top 10 weight
60.98%
New
19
Sold out
113

Part of the filer group SPX Gestao de Recursos Ltda

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
STNEadded+4,783,158$70.7M
KWEBnew+2,075,400$70.7M
SPYnew+81,424$55.5M
XPadded+2,195,087$35.9M
FSLRadded+88,000$23M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
VALEreduced-10,673,385-$139M
EEMexited-1,480,000-$79M
EWZexited-1,600,000-$49.6M
VSTexited-212,500-$41.6M
PBRreduced-3,029,424-$35.9M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001589176-26-000001, largest first. % of portfolio is the value over $977,022,654, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
STNESTONECO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 54,159 shares; 2024Q4: 1,813,588 shares; 2025Q1: not reported; 2025Q2: 477,213 shares; 2025Q3: 453,462 shares; 2025Q4: 5,236,620 shares 5,236,620$77.4M7.93%+4,783,158Timeline
KWEBKRANESHARES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 2,075,400 shares 2,075,400$70.7M7.23%newTimeline
XPXP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 734,861 shares; 2024Q4: not reported; 2025Q1: 2,497,615 shares; 2025Q2: 277,825 shares; 2025Q3: 2,000,292 shares; 2025Q4: 4,195,379 shares 4,195,379$68.7M7.03%+2,195,087Timeline
PBRPETROLEO BRASILEIRO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 535,722 shares; 2024Q4: 1,566,449 shares; 2025Q1: 1,520,388 shares; 2025Q2: 4,990,500 shares; 2025Q3: 7,916,982 shares; 2025Q4: 4,887,558 shares 4,887,558$57.9M5.93%-3,029,424Timeline
BAPCREDICORP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 123,141 shares; 2024Q4: 83,606 shares; 2025Q1: 149,042 shares; 2025Q2: 186,961 shares; 2025Q3: 128,592 shares; 2025Q4: 199,083 shares 199,083$57.1M5.85%+70,491Timeline
SPYSTATE STR SPDR S&P 500 ETF TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,717 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1 shares; 2025Q3: not reported; 2025Q4: 81,424 shares 81,424$55.5M5.68%newTimeline
ARCOARCOS DORADOS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,506,774 shares; 2025Q2: 4,534,496 shares; 2025Q3: 6,342,621 shares; 2025Q4: 7,551,676 shares 7,551,676$55.4M5.67%+1,209,055Timeline
FSLRFIRST SOLAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 15,000 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 116,250 shares; 2025Q4: 204,250 shares 204,250$53.4M5.46%+88,000Timeline
VINPVINCI COMPASS INVESTMENTS LTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,562,635 shares; 2024Q4: 3,368,286 shares; 2025Q1: 3,505,030 shares; 2025Q2: 3,759,784 shares; 2025Q3: 4,038,396 shares; 2025Q4: 4,000,725 shares 4,000,725$52.2M5.34%-37,671Timeline
CPACOPA HOLDINGS SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 385,029 shares; 2024Q4: 388,686 shares; 2025Q1: 447,781 shares; 2025Q2: 434,244 shares; 2025Q3: 406,642 shares; 2025Q4: 393,542 shares 393,542$47.5M4.86%-13,100Timeline
AUGOAURA MINERALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 805,922 shares; 2025Q4: 877,211 shares 877,211$44.2M4.53%+71,289Timeline
TGSTRANSPORTADORA DE GAS DEL SUQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 837,142 shares; 2025Q3: 578,365 shares; 2025Q4: 1,206,803 shares 1,206,803$37.5M3.84%+628,438Timeline
RIORIO TINTO PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 426,922 shares; 2024Q4: 20,628 shares; 2025Q1: 94,136 shares; 2025Q2: 278,840 shares; 2025Q3: 646,866 shares; 2025Q4: 468,415 shares 468,415$37.5M3.84%-178,451Timeline
MUMICRON TECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 60,000 shares; 2025Q1: 153,672 shares; 2025Q2: 20,000 shares; 2025Q3: 20,000 shares; 2025Q4: 90,000 shares 90,000$25.7M2.63%+70,000Timeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 31,500 shares; 2025Q2: 500 shares; 2025Q3: 33,500 shares; 2025Q4: 150,000 shares 150,000$22M2.25%+116,500Timeline
BPBP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 211,972 shares; 2024Q4: 752,724 shares; 2025Q1: 164,350 shares; 2025Q2: 457,113 shares; 2025Q3: 703,309 shares; 2025Q4: 523,230 shares 523,230$18.2M1.86%-180,079Timeline
GGBGERDAU SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 945,138 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 2,869,104 shares; 2025Q3: 4,491,042 shares; 2025Q4: 4,894,496 shares 4,894,496$18.1M1.85%+403,454Timeline
LTMLATAM AIRLINES GROUP SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 82,912 shares; 2024Q4: not reported; 2025Q1: 188,213 shares; 2025Q2: 23,474 shares; 2025Q3: 935,321 shares; 2025Q4: 328,463 shares 328,463$17.7M1.82%-606,858Timeline
PBR-APETROLEO BRASILEIRO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,374,170 shares; 2024Q4: 584,828 shares; 2025Q1: 1,237,620 shares; 2025Q2: 1,724,375 shares; 2025Q3: 1,742,229 shares; 2025Q4: 1,173,051 shares 1,173,051$13.2M1.35%-569,178Timeline
SNSHARKNINJA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 15,700 shares; 2025Q2: 47,000 shares; 2025Q3: 90,670 shares; 2025Q4: 104,170 shares 104,170$11.7M1.19%+13,500Timeline
BBDBANCO BRADESCO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,608,320 shares; 2024Q4: not reported; 2025Q1: 8,961 shares; 2025Q2: 3,902,945 shares; 2025Q3: 5,842,473 shares; 2025Q4: 3,437,249 shares 3,437,249$11.4M1.17%-2,405,224Timeline
EVEXEVE HLDG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 107,689 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 588,991 shares; 2025Q4: 2,845,692 shares 2,845,692$11.4M1.16%+2,256,701Timeline
CPAYCORPAY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 3,100 shares; 2025Q2: 6,100 shares; 2025Q3: 19,960 shares; 2025Q4: 29,260 shares 29,260$8.81M0.9%+9,300Timeline
ELPCCOMPANHIA PARANAENSE DE ENERQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 51,311 shares; 2024Q4: 68,091 shares; 2025Q1: 68,672 shares; 2025Q2: 70,929 shares; 2025Q3: 70,929 shares; 2025Q4: 918,127 shares 918,127$8.73M0.89%+847,198Timeline
GLOBGLOBANT S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 133,160 shares 133,160$8.7M0.89%newTimeline
SBSCOMPANHIA DE SANEAMENTO BASIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 460,646 shares; 2025Q2: 186,068 shares; 2025Q3: 210,516 shares; 2025Q4: 348,052 shares 348,052$8.3M0.85%+137,536Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 95,300 shares; 2025Q1: 55,500 shares; 2025Q2: 173,900 shares; 2025Q3: 32,880 shares; 2025Q4: 32,460 shares 32,460$7.49M0.77%-420Timeline
OWLBLUE OWL CAPITAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 60,300 shares; 2025Q2: 249,300 shares; 2025Q3: 381,360 shares; 2025Q4: 489,660 shares 489,660$7.32M0.75%+108,300Timeline
AXICYAXIA ENERGIA SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 680,091 shares 680,091$5.86M0.6%newTimeline
GRNDGRINDR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 42,100 shares; 2025Q2: 42,100 shares; 2025Q3: 177,300 shares; 2025Q4: 401,800 shares 401,800$5.44M0.56%+224,500Timeline
VALEVALE S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,780,214 shares; 2024Q4: 3,524,033 shares; 2025Q1: 5,388,044 shares; 2025Q2: 2,741,291 shares; 2025Q3: 11,068,403 shares; 2025Q4: 395,018 shares 395,018$5.15M0.53%-10,673,385Timeline
LUXELUXEXPERIENCE BVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 90,500 shares; 2025Q2: 155,500 shares; 2025Q3: 373,910 shares; 2025Q4: 523,410 shares 523,410$4.37M0.45%+149,500Timeline
TLNTALEN ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 51,810 shares; 2024Q4: 74,810 shares; 2025Q1: 98,100 shares; 2025Q2: 170,700 shares; 2025Q3: 66,630 shares; 2025Q4: 9,490 shares 9,490$3.56M0.36%-57,140Timeline
CEPTCANTOR EQUITY PARTNERS II INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 10,000 shares; 2025Q3: not reported; 2025Q4: 305,000 shares 305,000$3.43M0.35%newTimeline
CTLPCANTALOUPE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 69,000 shares; 2025Q2: 164,000 shares; 2025Q3: 298,600 shares; 2025Q4: 298,600 shares 298,600$3.17M0.32%0Timeline
JBSJBS N.V.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 39,281 shares; 2025Q4: 208,100 shares 208,100$3M0.31%+168,819Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,500 shares; 2024Q4: not reported; 2025Q1: 12,000 shares; 2025Q2: 58,930 shares; 2025Q3: 11,030 shares; 2025Q4: 4,460 shares 4,460$2.94M0.3%-6,570Timeline
INTRINTER & CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 883,964 shares; 2024Q4: 186,349 shares; 2025Q1: 14,231 shares; 2025Q2: not reported; 2025Q3: 2,050,930 shares; 2025Q4: 347,106 shares 347,106$2.94M0.3%-1,703,824Timeline
AFYAAFYA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 185,577 shares; 2025Q4: 176,892 shares 176,892$2.73M0.28%-8,685Timeline
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 128,063 shares; 2024Q4: not reported; 2025Q1: 35,000 shares; 2025Q2: 47,000 shares; 2025Q3: 88,996 shares; 2025Q4: 14,500 shares 14,500$2.7M0.28%-74,496Timeline
PGYPAGAYA TECHNOLOGIES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 49,300 shares; 2025Q2: not reported; 2025Q3: 50,000 shares; 2025Q4: 120,300 shares 120,300$2.51M0.26%+70,300Timeline
UGPULTRAPAR PARTICIPACOES SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 21,469 shares; 2025Q4: 582,585 shares 582,585$2.2M0.22%+561,116Timeline
XOPSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 65,970 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 14,000 shares; 2025Q4: 15,000 shares 15,000$1.89M0.19%+1,000Timeline
TDGTRANSDIGM GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 800 shares; 2025Q2: 1,200 shares; 2025Q3: 1,400 shares; 2025Q4: 1,400 shares 1,400$1.86M0.19%0Timeline
CORZCORE SCIENTIFIC INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 51,200 shares; 2025Q2: 98,700 shares; 2025Q3: not reported; 2025Q4: 104,800 shares 104,800$1.53M0.16%newTimeline
NYAXNAYAX LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,600 shares; 2025Q2: 19,109 shares; 2025Q3: 19,109 shares; 2025Q4: 23,958 shares 23,958$1.21M0.12%+4,849Timeline
SUZSUZANO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 138,315 shares; 2024Q4: 162,031 shares; 2025Q1: 180,846 shares; 2025Q2: 172,511 shares; 2025Q3: 144,213 shares; 2025Q4: 115,964 shares 115,964$1.08M0.11%-28,249Timeline
FXIISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 25,370 shares; 2025Q1: 25,370 shares; 2025Q2: 25,370 shares; 2025Q3: 25,370 shares; 2025Q4: 25,370 shares 25,370$971K0.1%0Timeline
AMDADVANCED MICRO DEVICES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 17,700 shares; 2025Q2: not reported; 2025Q3: 6,500 shares; 2025Q4: 4,500 shares 4,500$964K0.1%-2,000Timeline
HUTHUT 8 CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 60,800 shares; 2025Q4: 18,180 shares 18,180$835K0.09%-42,620Timeline
CIGCIA ENERGETICA DE MINAS GERAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,491,225 shares; 2024Q4: 553 shares; 2025Q1: 49,795 shares; 2025Q2: 21,593 shares; 2025Q3: 320,778 shares; 2025Q4: 354,805 shares 354,805$710K0.07%+34,027Timeline
IRENIREN LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 72,600 shares; 2025Q4: 17,500 shares 17,500$661K0.07%-55,100Timeline
BSBRBANCO SANTANDER BRASIL S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 17,472 shares; 2024Q4: 381 shares; 2025Q1: 42,574 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 54,694 shares 54,694$334K0.03%newTimeline
AXIA/PCENTRAIS ELET BRAS SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 33,986 shares 33,986$318K0.03%newTimeline
ENICENEL CHILE SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 40,255 shares; 2025Q1: not reported; 2025Q2: 371 shares; 2025Q3: not reported; 2025Q4: 70,089 shares 70,089$282K0.03%newTimeline
ABEVAMBEV SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,149 shares; 2024Q4: 2,969,700 shares; 2025Q1: 2,564,374 shares; 2025Q2: 1,990,483 shares; 2025Q3: 3,242,594 shares; 2025Q4: 70,408 shares 70,408$174K0.02%-3,172,186Timeline
ITUBITAU UNIBANCO HLDG S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 224,662 shares; 2024Q4: 1,702,655 shares; 2025Q1: 674,067 shares; 2025Q2: 793,180 shares; 2025Q3: 1,674,082 shares; 2025Q4: 22,194 shares 22,194$159K0.02%-1,651,888Timeline
EWYISHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 345,857 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 74,000 shares; 2025Q3: 30,000 shares; 2025Q4: 1,574 shares 1,574$153K0.02%-28,426Timeline
GROBRAZIL POTASH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 187,360 shares; 2025Q2: 202,999 shares; 2025Q3: 74,572 shares; 2025Q4: 74,572 shares 74,572$141K0.01%0Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 80,000 shares; 2025Q3: not reported; 2025Q4: 44 shares 44$13.8K<0.01%newTimeline
AXIAYAXIA ENERGIA SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 91,101 shares; 2024Q4: not reported; 2025Q1: 594,050 shares; 2025Q2: 670,083 shares; 2025Q3: 473,209 shares; 2025Q4: 1,285 shares 1,285$11.8K<0.01%-471,924Timeline
SIDCOMPANHIA SIDERURGICA NACIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 13,289 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 3,107 shares 3,107$4.97K<0.01%newTimeline
CIG-CCIA ENERGETICA DE MINAS GERAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 16,244 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 565 shares 565$1.47K<0.01%newTimeline
BHPBHP BILLITON LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 190,933 shares; 2025Q1: 14,959 shares; 2025Q2: 217,500 shares; 2025Q3: 0 shares; 2025Q4: 0 shares 0$00%0Value filed as zero, left out of ratios.Amount filed as zero, left out of ratios.Timeline
EMBJEMBRAER S.A.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 999 shares; 2025Q1: 139,364 shares; 2025Q2: 198,609 shares; 2025Q3: 231,172 shares; 2025Q4: 0 shares 0$00%-231,172Value filed as zero, left out of ratios.Amount filed as zero, left out of ratios.Timeline
VIVTELEFONICA BRASIL SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 15,870 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 0 shares; 2025Q4: 0 shares 0$00%0Value filed as zero, left out of ratios.Amount filed as zero, left out of ratios.Timeline
BBDOBANCO BRADESCO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 229 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 0 shares 0$00%newValue filed as zero, left out of ratios.Amount filed as zero, left out of ratios.Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
PUT - GLD 100 @ 365 EXP 03/…PUT - GLD 100 @ 365 EXP 03/20/2026 PUTput2,183$848Knew
PUT - QQQ 100 @ 590 EXP 01/…PUT - QQQ 100 @ 590 EXP 01/16/2026 PUTput2,500$560Knew
CALL- META 100 @ 650 EXP 03…CALL- META 100 @ 650 EXP 03/20/20… CALLcall100$481Knew
CALL- CRWV 100 @ 150 EXP 06…CALL- CRWV 100 @ 150 EXP 06/18/20… CALLcall100$33.6Knew
CALL- SNAP 100 @ 10 EXP 01/…CALL- SNAP 100 @ 10 EXP 01/16/2026 CALLcall2,000$3Knew
CALL- EVEX 100 @ 5 EXP 01/…CALL- EVEX 100 @ 5 EXP 01/16/2026 CALLcall4$13new

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

The largest 100 of 113. All 113

SecurityShares beforeValue beforeType
EEMISHARES TR1,480,000$79Mshares
EWZISHARES INC1,600,000$49.6Mshares
VSTVISTRA CORP212,500$41.6Mshares
GEVGE VERNOVA INC28,700$17.6Mshares
NUNU HLDGS LTD654,165$10.5Mshares
MSFTMICROSOFT CORP20,000$10.4Mshares
COMPANHIA PARANAENSE DE ENE…COMPANHIA PARANAENSE DE ENERGI849,336$8.32Mshares
HDBHDFC BANK LTD222,000$7.58Mshares
AVGOBROADCOM INC21,000$6.93Mshares
CNRCORE NATURAL RESOURCES INC82,000$6.85Mshares
SESEA LTD38,000$6.79Mshares
FUTUFUTU HLDGS LTD31,000$5.39Mshares
CRDOCREDO TECHNOLOGY GROUP HOLDI34,000$4.95Mshares
COHRCOHERENT CORP45,000$4.85Mshares
LEUCENTRUS ENERGY CORP10,600$3.29Mshares
UUUUENERGY FUELS INC196,000$3.01Mshares
UECURANIUM ENERGY CORP215,000$2.87Mshares
IBMINTERNATIONAL BUSINESS MACHS10,000$2.82Mshares
CALL- TLT 100 @ 93 EXP 12/…CALL- TLT 100 @ 93 EXP 12/19/202531,765$2.73Mcall
EQTEQT CORP50,000$2.72Mshares
TTWOTAKE-TWO INTERACTIVE SOFTWAR10,000$2.58Mshares
WDCWESTERN DIGITAL CORP20,000$2.4Mshares
LLYELI LILLY & CO2,800$2.14Mshares
NEMNEWMONT CORP25,000$2.11Mshares
RKLBROCKET LAB CORP42,400$2.03Mshares
UBERUBER TECHNOLOGIES INC20,000$1.96Mshares
JHXJAMES HARDIE INDS PLC101,600$1.95Mshares
COPCONOCOPHILLIPS20,000$1.89Mshares
IONQIONQ INC30,000$1.84Mshares
GRSDGRANDSTAND LTD208,800$1.71Mshares
BEBLOOM ENERGY CORP20,000$1.69Mshares
GISGENERAL MILLS INC32,180$1.62Mshares
RIOTRIOT PLATFORMS INC84,000$1.6Mshares
TSMTAIWAN SEMICONDUCTOR MANUFAC5,600$1.56Mshares
CALL- EEM 100 @ 54 EXP 10/…CALL- EEM 100 @ 54 EXP 10/17/202532,000$1.55Mcall
DASHDOORDASH INC5,600$1.52Mshares
RGTIRIGETTI COMPUTING INC50,000$1.49Mshares
DNAGINKGO BIOWORKS HOLDINGS INC100,000$1.46Mshares
NKENIKE INC20,000$1.39Mshares
NRGNRG ENERGY INC8,400$1.36Mshares
PYPLPAYPAL HLDGS INC20,000$1.34Mshares
CATCATERPILLAR INC2,800$1.34Mshares
DELLDELL TECHNOLOGIES INC9,000$1.28Mshares
SNOWSNOWFLAKE INC5,600$1.26Mshares
NBISNEBIUS GROUP N.V.11,200$1.26Mshares
HONHONEYWELL INTL INC5,600$1.18Mshares
QUBTQUANTUM COMPUTING INC64,000$1.18Mshares
ANETARISTA NETWORKS INC8,000$1.17Mshares
QBTSD-WAVE QUANTUM INC44,000$1.09Mshares
PATHUIPATH INC80,000$1.07Mshares
ASPIASP ISOTOPES INC109,600$1.05Mshares
ETNEATON CORP PLC2,800$1.05Mshares
BWXTBWX TECHNOLOGIES INC5,500$1.01Mshares
ACHRARCHER AVIATION INC105,000$1.01Mshares
PUT - SPY 100 @ 663 EXP 10/…PUT - SPY 100 @ 663 EXP 10/10/20252,716$964Kput
CRWVCOREWEAVE INC7,000$958Kshares
CALL- MRVL 100 @ 81 EXP 10/…CALL- MRVL 100 @ 81 EXP 10/17/20251,700$933Kcall
MTZMASTEC INC4,200$894Kshares
JPMJPMORGAN CHASE & CO2,800$883Kshares
SHELSHELL PLC12,198$873Kshares
BMNRBITMINE IMMERSION TECHS INC16,800$872Kshares
CVXCHEVRON CORPORATION5,600$870Kshares
FIVEFIVE BELOW INC5,600$866Kshares
GGALGRUPO FINANCIERO GALICIA S.A30,000$827Kshares
BACBANK OF AMER CORP15,000$774Kshares
BTDRBITDEER TECHNOLOGIES GROUP42,000$718Kshares
INDIVIOR PLCINDIVIOR PLC28,000$675Kshares
NTAPNETAPP INC5,600$663Kshares
CALL- MU 100 @ 180 EXP 12/…CALL- MU 100 @ 180 EXP 12/19/2025500$590Kcall
NXHNEIGHBORHOOD INTELLIGENCE IN56,000$548Kshares
CENTRAIS ELETRICAS BRASILEIRCENTRAIS ELETRICAS BRASILEIR50,366$522Kshares
DBXDROPBOX INC16,800$508Kshares
CALL- KWEB 100 @ 44 EXP 10/…CALL- KWEB 100 @ 44 EXP 10/17/202510,000$460Kcall
CALL- UBER 100 @ 110 EXP 11…CALL- UBER 100 @ 110 EXP 11/21/20…2,000$438Kcall
PUT - QQQ 100 @ 585 EXP 10/…PUT - QQQ 100 @ 585 EXP 10/17/20251,100$411Kput
CALL- GDXJ 100 @ 100 EXP 11…CALL- GDXJ 100 @ 100 EXP 11/21/20…600$376Kcall
SEDGSOLAREDGE TECHNOLOGIES INC8,000$296Kshares
CALL- FXI 100 @ 43 EXP 11/…CALL- FXI 100 @ 43 EXP 11/21/20253,000$288Kcall
CSIQCANADIAN SOLAR INC22,000$287Kshares
SHLSSHOALS TECHNOLOGIES GROUP IN38,000$282Kshares
NXTNEXTPOWER INC3,700$274Kshares
RUNSUNRUN INC15,500$268Kshares
PUT - TLT 100 @ 89 EXP 12/…PUT - TLT 100 @ 89 EXP 12/19/20251,179$260Kput
JKSJINKOSOLAR HLDG CO LTD10,500$252Kshares
ARRYARRAY TECHNOLOGIES INC27,000$220Kshares
ORBSEIGHTCO HOLDINGS INC16,800$154Kshares
CALL- FSLR 100 @ 240 EXP 11…CALL- FSLR 100 @ 240 EXP 11/21/20…100$120Kcall
CALL- DDOG 100 @ 150 EXP 10…CALL- DDOG 100 @ 150 EXP 10/17/20…500$117Kcall
CALL- EEM 100 @ 54 EXP 11/…CALL- EEM 100 @ 54 EXP 11/21/20251,000$110Kcall
CALL- NVDA 100 @ 180 EXP 10…CALL- NVDA 100 @ 180 EXP 10/17/20…100$102Kcall
CALL- FSLR 100 @ 250 EXP 11…CALL- FSLR 100 @ 250 EXP 11/21/20…100$91.8Kcall
CALL- CROX 100 @ 90 EXP 10/…CALL- CROX 100 @ 90 EXP 10/24/2025400$89.7Kcall
CALL- HUT 100 @ 45 EXP 12/…CALL- HUT 100 @ 45 EXP 12/19/2025200$70Kcall
AMBWQAMBIPAR EMERGENCY RESPONSE WT1,592,965$66.9Kshares
CALL- META 100 @ 780 EXP 10…CALL- META 100 @ 780 EXP 10/17/20…100$44.1Kcall
PUT - QQQ 100 @ 570 EXP 10/…PUT - QQQ 100 @ 570 EXP 10/17/2025200$38Kput
CALL- IWM 100 @ 242 EXP 10/…CALL- IWM 100 @ 242 EXP 10/03/2025200$36.3Kcall
PUT - QQQ 100 @ 565 EXP 10/…PUT - QQQ 100 @ 565 EXP 10/17/2025200$30.8Kput
CALL- META 100 @ 800 EXP 10…CALL- META 100 @ 800 EXP 10/17/20…140$30.2Kcall
CALL- AMZN 100 @ 250 EXP 10…CALL- AMZN 100 @ 250 EXP 10/17/20…1,000$26.5Kcall

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001589176-26-000001 base2026-02-13acceptance time not in the bulk data set