CIK 1536361
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.
As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).
Computing…
Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.
| Industry group | Weight | Names |
|---|---|---|
| Commercial Services & Supplies | 34.22% | 1 |
| Unclassified | 17.96% | 13 |
| Metals & Mining | 11.24% | 2 |
| Oil, Gas & Consumable Fuels | 9.33% | 2 |
| Construction Materials | 9.01% | 2 |
| Utilities | 7.03% | 2 |
| Airlines | 5.82% | 2 |
| Banks | 5.40% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | MELI | MERCADOLIBRE INC | Industrials | 34.22% |
| 2 | VALE | Vale S.A. | Materials | 9.48% |
| 3 | SQM | CHEMICAL & MINING CO OF CHILE INC | Materials | 7.33% |
| 4 | CIB | Grupo Cibest S.A. | Financials | 5.40% |
| 5 | PBR | PETROBRAS - PETROLEO BRASILEIRO SA | Energy | 4.80% |
| 6 | VIST | Vista Energy, S.A.B. de C.V. | Energy | 4.53% |
| 7 | TGS | GAS TRANSPORTER OF THE SOUTH INC | Utilities | 3.54% |
| 8 | PAM | Pampa Energy Inc. | Utilities | 3.48% |
| 9 | AGG | ISHARES TR | Unclassified | 3.44% |
| 10 | AERO | Grupo Aeromexico, S.A.B. de C.V. | Industrials | 3.43% |
12/25 names classified · sector 82.0% of weight · industry 82.0% · mkt cap 34.2%; unclassified names shown, never dropped.
Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 82.0% of the book is sector-classified (unclassified names shown, never dropped).
Only 34% of book weight classified — the grid is NOT representative of the whole book.
Classified: 34.2% of book weight (1/25 names) · unclassified 65.8%: VALE, SQM, CIB, PBR, VIST, TGS, PAM, AGG, AERO, AAXJ +14 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.
No contribution data for this period.
| # | Security | Shares | Value | Weight | Δ QoQ |
|---|---|---|---|---|---|
| 1 | MELIMERCADOLIBRE INC | 24,151 | $42M | 34.2% | ADD 56% |
| 2 | VALEVALE S A | 730,578 | $12M | 9.5% | ADD 171% |
| 3 | SQMSOCIEDAD QUIMICA Y MINERA DE | 110,993 | $9M | 7.3% | ADD 63% |
| 4 | CIBGRUPO CIBEST SA | 90,902 | $7M | 5.4% | NEW |
| 5 | PBRPETROLEO BRASILEIRO S A | 283,719 | $6M | 4.8% | TRIM −28% |
| 6 | VISTVISTA ENERGY S.A.B. DE C.V. | 73,536 | $6M | 4.5% | ADD 137% |
| 7 | TGSTRANSPORTADORA DE GAS SUR | 125,393 | $4M | 3.5% | TRIM −7% |
| 8 | PAMPAMPA ENERGIA S A | 48,259 | $4M | 3.5% | HOLD |
| 9 | AGGISHARES TR | 42,523 | $4M | 3.4% | TRIM −22% |
| 10 | AEROGRUPO AEROMEXICO SAB DE CV | 300,000 | $4M | 3.4% | HOLD |
| 11 | AAXJISHARES TR | 31,077 | $3M | 2.4% | HOLD |
| 12 | LTMLATAM AIRLINES GROUP SA | 59,184 | $3M | 2.4% | NEW |
| 13 | ILFISHARES TR | 78,658 | $3M | 2.3% | TRIM −12% |
| 14 | MCHIISHARES TR MSCI CHINA ETF | 47,965 | $3M | 2.2% | ADD 10% |
| 15 | BNDVANGUARD BD INDEX FDS | 29,276 | $2M | 1.8% | HOLD |
| 16 | BVNCOMPANIA DE MINAS BUENAVENTU | 59,659 | $2M | 1.8% | TRIM −39% |
| 17 | LOMALOMA NEGRA C I A S A MTN 14 | 185,608 | $2M | 1.7% | HOLD |
| 18 | EWYISHARES INC MSCI STH KOR ETF | 15,820 | $2M | 1.6% | ADD 8% |
| 19 | EZAISHARES INC | 17,700 | $1M | 1.0% | TRIM −8% |
| 20 | KSAISHARES TR | 26,123 | $1M | 0.8% | TRIM −10% |
| 21 | INDAISHARES TR | 21,847 | $1M | 0.8% | ADD 72% |
| 22 | IEMGISHARES INC | 8,855 | $617,636 | 0.5% | HOLD |
| 23 | EEMISHARES TR | 10,803 | $613,502 | 0.5% | TRIM −53% |
| 24 | UAEISHARES TR | 23,896 | $445,660 | 0.4% | TRIM −12% |
| 25 | QATISHARES TR | 14,552 | $270,667 | 0.2% | ADD 39% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| MELIMERCADOLIBRE INC | 13K | 16K | 11K | 12K | 15K | 24K | $42M |
| VALEVALE S A | 1.6M | 633K | 484K | 322K | 270K | 731K | $12M |
| SQMSOCIEDAD QUIMICA Y MINERA DE | 120K | 94K | 65K | — | 68K | 111K | $9M |
| CIBGRUPO CIBEST SA | — | — | — | — | — | 91K | $7M |
| PBRPETROLEO BRASILEIRO S A | 868K | 650K | 511K | 449K | 394K | 284K | $6M |
| VISTVISTA ENERGY S.A.B. DE C.V. | — | — | 46K | 41K | 31K | 74K | $6M |
| TGSTRANSPORTADORA DE GAS SUR | — | — | — | 163K | 135K | 125K | $4M |
| PAMPAMPA ENERGIA S A | — | — | — | 50K | 48K | 48K | $4M |
| AGGISHARES TR | 75K | 76K | 68K | 54K | 55K | 43K | $4M |
| AEROGRUPO AEROMEXICO SAB DE CV | — | — | — | — | 300K | 300K | $4M |
| AAXJISHARES TR | 26K | 36K | 25K | 26K | 31K | 31K | $3M |
| LTMLATAM AIRLINES GROUP SA | — | — | — | — | — | 59K | $3M |
| ILFISHARES TR | 70K | 71K | 70K | 83K | 89K | 79K | $3M |
| MCHIISHARES TR MSCI CHINA ETF | 39K | 41K | 42K | 43K | 43K | 48K | $3M |
| BNDVANGUARD BD INDEX FDS | 28K | 28K | 29K | 29K | 29K | 29K | $2M |
Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
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