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INCA Investments Portfolio holdings

AUM $282M
1-Year Est. Return 42.53%
This Fund
S&P 500
This Quarter Est. Return
+23.94%
1 Year Est. Return
+42.53%
3 Year Est. Return
+148.86%
5 Year Est. Return
+217.54%
10 Year Est. Return
+446.73%
AUM
$286M
AUM Growth
+$68.6M
Cap. Flow
+$26.6M
Cap. Flow %
9.32%
Top 10 Hldgs %
100%
Holding
10
New
1
Increased
4
Reduced
4
Closed
1

Top Buys

Rank Stock Value
1
LTM
LATAM Airlines Group S.A.
LTM
+$38.2M
2
BSAC icon
Banco Santander Chile
BSAC
+$10.2M
3
BAP icon
Credicorp
BAP
+$3.23M
4
FMX icon
Fomento Económico Mexicano
FMX
+$2.48M
5
NU icon
Nu Holdings
NU
+$690K

Top Sells

Rank Stock Value
1
XP icon
XP
XP
+$17.4M
2
GGAL icon
Galicia Financial Group
GGAL
+$6.55M
3
ARCO icon
Arcos Dorados Holdings
ARCO
+$3.08M
4
ITUB icon
Itaú Unibanco
ITUB
+$565K
5
MELI icon
Mercado Libre
MELI
+$529K

Sector Composition

Rank Sector Weight
1 Financials 63.5%
2 Industrials 15.25%
3 Consumer Staples 13.97%
4 Consumer Discretionary 7.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BAP icon
1
Credicorp
BAP
$31B
$65.5M 22.91%
228,233
+12,183
+6% +$3.23M
GGAL icon
2
Galicia Financial Group
GGAL
$8.02B
$50.7M 17.74%
940,056
-140,105
-13% -$6.55M
LTM
3
LATAM Airlines Group S.A.
LTM
$15.1B
$43.6M 15.25%
+807,079
New +$38.2M
FMX icon
4
Fomento Económico Mexicano
FMX
$44B
$39.9M 13.97%
395,261
+25,536
+7% +$2.48M
BSAC icon
5
Banco Santander Chile
BSAC
$15.5B
$33.1M 11.58%
1,064,274
+349,082
+49% +$10.2M
NU icon
6
Nu Holdings
NU
$65.6B
$25.7M 8.99%
1,534,540
+42,933
+3% +$690K
MELI icon
7
Mercado Libre
MELI
$92B
$15M 5.26%
7,467
-252
-3% -$529K
ITUB icon
8
Itaú Unibanco
ITUB
$90.4B
$6.53M 2.28%
911,377
-79,429
-8% -$565K
ARCO icon
9
Arcos Dorados Holdings
ARCO
$1.73B
$5.78M 2.02%
788,001
-427,563
-35% -$3.08M
XP icon
10
XP
XP
$8.61B
– –
-926,752
Closed -$17.4M

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SIC
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TPW
Tiller Private Wealth Bethlehem, Pennsylvania $281M AUM 16.29% 1-Year Est. Return
WE
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BA
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BWM
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RCP
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INCA Investments's Q4 2025 Portfolio in Review

As of Q4 2025, INCA Investments held 10 positions worth $286M, up 32% from $217M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

INCA Investments deployed $26.6M of net new capital in Q4 2025, opening 1 new position and adding to 4 existing holdings. Its largest new stake was LATAM Airlines Group S.A.: 807,079 shares worth $43.6M.

By sector, the portfolio is most concentrated in Financials at 63% of assets, down from 71% a quarter earlier, followed by Industrials and Consumer Staples.

On the sell side, the largest reduction was Galicia Financial Group, an estimated $6.55M trimmed.

  • INCA Investments's largest Q4 2025 buy was LATAM Airlines Group S.A.: 807,079 shares worth $43.6M.
  • INCA Investments added most to Banco Santander Chile in Q4 2025, an estimated $10.2M increase.
  • INCA Investments's biggest Q4 2025 reduction was Galicia Financial Group, cutting an estimated $6.55M.
  • INCA Investments fully exited XP in Q4 2025, selling an estimated $17.4M.
  • INCA Investments's ten largest holdings make up 100% of its $286M portfolio in Q4 2025.
  • INCA Investments opened 1 new position and closed 1 in Q4 2025.
  • INCA Investments's portfolio value rose 32% quarter-over-quarter to $286M.

Based on INCA Investments's 13F filing for Q4 2025, filed 4 Feb 2026.