BTG Pactual Asset Management US portfolio

What changed this quarter

447 positions with a change (189 new, 136 added to, 41 trimmed, 81 sold); also, 1 entered through an IPO. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Dominion Energy−0.9 ppof portfolioSold out
  1.2% → —
• Vanguard Russell 1000 Growth ETF+127%more sharesIncreased
  0.8% → 1.6%
• NVIDIA+38%more sharesIncreased
  2.6% → 3.1%
• PPL+306%more sharesIncreased
  0.4% → 1.1%
• Vanguard S&P 500 ETF+8.5%more sharesIncreased
  10.3% → 9.8%
• Invesco QQQ Trust Series 1 ETF+39,588%more sharesIncreased
  under 0.1% → 0.7%
• GE Aerospace+1,014%more sharesIncreased
  0.1% → 0.7%
• Essential Utilities−0.7 ppof portfolioSold out
  0.9% → —
• Sempra+3,119%more sharesIncreased
  under 0.1% → 0.6%
• WEC Energy Group−62%fewer sharesReduced
  1.2% → 0.4%
• Taiwan Semiconductor Manufacturing+31%more sharesIncreased
  1.7% → 2.4%
• Firstenergy−0.5 ppof portfolioSold out
  0.7% → —

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• Vanguard S&P 500 ETFVOO9.8%
• iShares Russell 1000 Growth ETFIWF6.6%
• Vanguard World FundMGK3.4%
• NVIDIANVDA3.1%
• Amazon.comAMZN2.6%
• Vanguard World FundMGV2.6%
• AlphabetGOOG · GOOGL2.5%
• Taiwan Semiconductor ManufacturingTSM2.4%
• Vanguard International Equity Index FVGK2.0%
• Berkshire HathawayBRK/B1.9%
• Vanguard Russell 1000 Growth ETFVONG1.6%
• JPMorgan ChaseJPM1.4%
• State Street Health Care Select Sector ETFXLV1.4%
• State Str Spdr S&P 500 ETF TSPY1.4%
• SPDR Gold Shares ETFGLD1.4%
• Xcel EnergyXEL1.2%
• Vanguard Index FundsVO1.1%
• PPLPPL1.1%
• GE VernovaGEV1.1%
• Eli LillyLLY1.1%
• AmerenAEE1.0%
• American Electric PowerAEP1.0%
• OGE EnergyOGE1.0%
• Vanguard International Equity Index FVWO0.9%
• Itau Unibanco HoldingITUB0.9%
• Meta PlatformsMETA0.9%
• Nu HoldingsNU0.9%
• ONE GasOGS0.9%
• BroadcomAVGO0.8%
• IsharesEWJ0.8%
• United RentalsURI0.8%
• VALEVALE0.8%
• Petrobras - Petroleo BrasileiroPBR0.8%
• GE AerospaceGE0.7%
• Invesco QQQ Trust Series 1 ETFQQQ0.7%
• CMS EnergyCMS0.7%
• Constellation EnergyCEG0.7%
• VisaV0.7%
• Etfis SER Tr IUTES0.6%
• SempraSRE0.6%
• Vanguard Health Care ETFVHT0.6%
• Cmb.techCMBT0.6%
• Pg&ePCG0.6%
• Webster FinancialWBS0.6%
• Vanguard Info Tech ETFVGT0.6%
• AbbVieABBV0.5%
• Millicom International CellularTIGO0.5%
• Norfolk SouthernNSC0.5%
• Vanguard Financials ETFVFH0.5%
• Vanguard Most Sm-cap ETF-usd ETFVB0.5%
• Global X MLP & Energy Infras ETFMLPX0.5%
• EntergyETR0.5%
• Vistra OperationsVST0.4%
• Warner Bros. DiscoveryWBD0.4%
• Vistance NetworksVISN0.4%
• Vanguard Tax-exempt Bond ETFVTEB0.4%
• Advanced Micro DevicesAMD0.4%
• Enel ChileENIC0.4%
• ChevronCVX0.4%
• Companhia De Saneamento Basico DO Estado De SAO Paulo-sabespSBS0.4%
• WEC Energy GroupWEC0.4%
• EchoStarECHO0.3%
• Centerpoint EnergyCNP0.3%
• Sociedad Quimica Y Minera DeSQM0.3%
• MercadoLibreMELI0.3%
• IsharesEPP0.3%
• Suncor EnergySU0.3%
• Cheniere EnergyLNG0.3%
• Southwest Gas HoldingsSWX0.3%
• Royalty PharmaRPRX0.3%
• Vanguard Real Estate ETFVNQ0.3%
• Pimco Intermediate Municipal ETFMUNI0.3%
• HCA HealthcareHCA0.3%
• iShares Broad USD High Yield ETFUSHY0.3%
• MicrosoftMSFT0.3%
• StrykerSYK0.3%
• AppleAAPL0.3%
• Morgan Stanley ETF TrustXAGG0.3%
• ComcastCMCSA0.3%
• Venture GlobalVG0.3%
• Take-two Interactive SoftwareTTWO0.2%
• GerdauGGB0.2%
• KenvueKVUE0.2%
• Telephone and Data SystemsTDS0.2%
• iShares Tips Bond ETFTIP0.2%
• Micron TechnologyMU0.2%
• Electronic ArtsEA0.2%
• SpireSR0.2%
• Devon EnergyDVN0.2%
• SunococorpSUNC0.2%
• J P Morgan Exchange Traded FundJMUB0.2%
• ASML HoldingASML0.2%
• iShares Biotechnology ETFIBB0.2%
• iShares 7-10 Year Treasury B ETFIEF0.2%
• HIVE Digital TechnologiesHIVE0.2%
• Williams CompaniesWMB0.2%
• Citizens Financial GroupCFG0.2%
• AppLovinAPP0.2%
• Vanguard Index FundsVTI0.2%