BTG Pactual Asset Management US LLC

Hedge Fund • Multi-Strategy

BTG Pactual Asset Management US LLC is a Multi-Strategy Hedge Fund based in New York, NY led by John Joseph Fath, reporting $25.6B in AUM as of Q3 2025 with 54% ETF concentration, 51% concentrated in top 10 holdings, and 18% allocation to SPY.

Managing PartnerJohn Joseph Fath

Portfolio Value: $840.7M
Positions: 231
Top Holding: SPY at 18.01%
Last Reported: Q3 2025

Address330 Madison Avenue, 23rd Floor, New York, NY, 10017, United States

Top Holdings

Largest long holdings in BTG Pactual Asset Management US LLC's portfolio (50.9% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 SPDR S&P 500 ETF Trust SPY	ETF ETF	$151.4M	18.01%	+$10.4M Bought	— 227.3K shares	Q2 2024 Held for 1y 5m
2 iShares Russell 1000 Growth IWF	ETF ETF	$87.4M	10.39%	+$14.8M Bought	— 205.8K shares	Q2 2024 Held for 1y 5m
3 Vanguard Mega Cap Growth MGK	ETF ETF	$34.4M	4.10%	+$1.9M Bought	— 94.0K shares	Q3 2024 Held for 1y 2m
4 Vanguard Mega Cap Value MGV	ETF ETF	$26.7M	3.17%	+$754.9K Bought	— 203.3K shares	Q3 2024 Held for 1y 2m
5 Nvidia NVDA	Semiconductors Technology	$24.8M	2.95%	+$3.6M Bought	0.00% 132.8K shares	Q2 2024 Held for 1y 5m
6 Vanguard FTSE Europe VGK	ETF ETF	$23.6M	2.81%	+$1.1M Bought	— 304.7K shares	Q3 2024 Held for 1y 2m
7 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$22.0M	2.62%	+$7.0M Bought	0.00% 90.3K shares	Q2 2024 Held for 1y 5m
8 JPMorgan Chase JPM	Banks - Diversified Financial Services	$20.0M	2.38%	+$1.7M Bought	0.00% 63.3K shares	Q2 2024 Held for 1y 5m
9 Amazon AMZN	Specialty Retail Consumer Cyclical	$19.6M	2.33%	+$6.0M Bought	0.00% 89.2K shares	Q2 2024 Held for 1y 5m
10 Microsoft MSFT	Software - Infrastructure Technology	$18.2M	2.16%	+$3.4M Bought	0.00% 35.1K shares	Q2 2024 Held for 1y 5m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in BTG Pactual Asset Management US LLC's latest filing

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Market Value

$840.7M

Prior: $723.3M

Q/Q Change

+16.23%

+$117.4M

Net Flows % of MV

+8.01%

Turnover Ratio

16.42%

New Purchases

46 stocks

$44.4M

Added To

76 stocks

+$124.9M

Sold Out Of

45 stocks

$54.1M

Reduced Holdings

35 stocks

-$48.0M

Increased Positions

Position	Shares Δ	Change
1 OGE Energy OGE	New	0 → 154.4K +$7.1M
2 Pinnacle West Capital PNW	New	0 → 69.3K +$6.2M
3 IHS Holding IHS	New	0 → 464.5K +$3.2M
4 Nextra Energy NEE	New	0 → 34.4K +$2.6M
5 Oneok OKE	New	0 → 30.5K +$2.2M

Decreased Positions

Position	Shares Δ	Change
1 PPL PPL	Sold	294.1K → 0 −$10.0M
2 Hess HES	Sold	35.5K → 0 −$4.9M
3 SLV iShares Silver Trust SLV	Sold	128.2K → 0 −$4.2M
4 Public Service Enterprise Group PEG	Sold	43.3K → 0 −$3.6M
5 SPDR Dow Jones Industrial Average ETF Trust DIA	Sold	7.9K → 0 −$3.2M

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Analytics

Portfolio insights and performance metrics for BTG Pactual Asset Management US LLC

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Sector Allocation

ETF

54.00%

Utilities

12.70%

Technology

9.70%

Financial Services

6.20%

Communication Services

5.50%

Consumer Cyclical

2.60%

Healthcare

2.50%

Energy

1.40%

Industrials

1.20%

Consumer Defensive

0.80%

Basic Materials

0.20%

Real Estate

0.20%

Market Cap Distribution

Mega Cap (> $200B)

18.87%

Large Cap ($10B - $200B)

20.37%

Mid Cap ($2B - $10B)

3.03%

Small Cap ($300M - $2B)

0.14%

N/A (ETF or Unknown)

57.59%

Portfolio Concentration

Top 10 Holdings %

50.92%

Top 20 Holdings %

65.17%

Top 50 Holdings %

87.07%

Top 100 Holdings %

96.63%