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Patria Investments
PAX

154 hedge funds and large institutions have $757M invested in Patria Investments in 2025 Q4 according to their latest regulatory filings, with 14 funds opening new positions, 66 increasing their positions, 46 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

766% more call options, than puts

Call options by funds: $2.66M | Put options by funds: $307K

100% more first-time investments, than exits

New positions opened: 14 | Existing positions closed: 7

43% more repeat investments, than reductions

Existing positions increased: 66 | Existing positions reduced: 46

15% more capital invested

Capital invested by funds: $660M → $757M (+$97.3M)

4% more funds holding

Funds holding: 148 → 154 (+6)

3.68% more ownership

Funds ownership: 67.96% → 71.64% (+3.7%)

0% more funds holding in top 10

Funds holding in top 10: 4 → 4 (0)

Holders
154
Holders Change
+6
Holders Change %
+4.05%
% of All Funds
1.87%
Holding in Top 10
4
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.05%
New
14
Increased
66
Reduced
46
Closed
7
Calls
$2.66M
Puts
$307K
Net Calls
+$2.35M
Net Calls Change
-$1.17M

Top Buyers

Rank Fund Capital Flow
1
AllianceBernstein
AllianceBernstein
Tennessee
+$9.09M
2
ZEP
Zeno Equity Partners
United Kingdom
+$8.84M
3
PP
Pertento Partners
United Kingdom
+$7.65M
4
Millennium Management
Millennium Management
New York
+$7.36M
5
BlackRock
BlackRock
New York
+$3.1M

Top Sellers

Rank Fund Capital Flow
1
AC
Amitell Capital
Singapore
-$5.83M
2
Adage Capital Partners
Adage Capital Partners
Massachusetts
-$4.4M
3
N
Nuveen
North Carolina
-$3.37M
4
UBS Group
UBS Group
Switzerland
-$2.14M
5
Bank of America
Bank of America
North Carolina
-$1.69M
Name Holding Trade Value Shares
Change 		Change in
Stake
Capital Research Global Investors
1
Capital Research Global Investors
California
$146M -$430K -28,755 -0.3%
Fidelity Investments
2
Fidelity Investments
Massachusetts
$106M +$164K +10,941 +0.2%
BlackRock
3
BlackRock
New York
$89.6M +$3.1M +206,811 +4%
PP
4
Pertento Partners
United Kingdom
$71.2M +$7.65M +511,327 +13%
SC
5
Samlyn Capital
New York
$32.4M +$760K +50,793 +3%
MMA
6
Mizuho Markets Americas
New York
$23.8M – – –
IMC
7
Inherent Management Corp
New York
$23.6M – – –
State Street
8
State Street
Massachusetts
$21.6M +$1.23M +82,067 +6%
Millennium Management
9
Millennium Management
New York
$21.6M +$7.36M +492,009 +57%
Adage Capital Partners
10
Adage Capital Partners
Massachusetts
$15.9M -$4.4M -293,901 -23%
Geode Capital Management
11
Geode Capital Management
Massachusetts
$13.6M +$286K +19,133 +2%
MFM
12
MHR Fund Management
New York
$12.7M – – –
AllianceBernstein
13
AllianceBernstein
Tennessee
$10.6M +$9.09M +607,550 +1,019%
UBS Group
14
UBS Group
Switzerland
$10.2M -$2.14M -143,096 -18%
Northern Trust
15
Northern Trust
Illinois
$9.51M -$585K -39,070 -6%
ZEP
16
Zeno Equity Partners
United Kingdom
$9.39M +$8.84M +590,698 New
N
17
Nuveen
North Carolina
$7.49M -$3.37M -225,150 -32%
Vanguard Group
18
Vanguard Group
Pennsylvania
$7.2M +$351K +23,430 +5%
Goldman Sachs
19
Goldman Sachs
New York
$6.59M -$709K -47,335 -10%
Morgan Stanley
20
Morgan Stanley
New York
$6.16M +$2.36M +157,818 +69%
6CM
21
683 Capital Management
New York
$5.8M -$225K -15,000 -4%
Tudor Investment Corp
22
Tudor Investment Corp
Connecticut
$5.5M +$1.73M +115,489 +50%
GPGA
23
Grandeur Peak Global Advisors
Utah
$5.14M -$1.07M -71,474 -18%
Allianz Asset Management
24
Allianz Asset Management
Germany
$4.61M – – –
GC
25
Globeflex Capital
California
$4.22M +$1.07M +71,625 +37%
1
2 3 4 5

PAX Hedge Fund Activity: Q4 2025 in Review

154 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Patria Investments (PAX) for Q4 2025, worth a combined $757M — up 15% from $660M a quarter earlier.

Buyers outnumbered sellers: 14 funds opened new PAX positions and 7 closed out — a net gain of 7 holders — while 66 added to existing stakes and 46 trimmed.

The largest buyer was AllianceBernstein, adding an estimated $9.09M. The largest seller was Amitell Capital, exiting entirely with an estimated $5.83M sold.

  • 154 institutional investors held Patria Investments (PAX) as of Q4 2025, up from 148 in Q3 2025.
  • Funds reported $757M of Patria Investments stock for Q4 2025, up 15% quarter-over-quarter.
  • 14 funds opened new Patria Investments positions in Q4 2025 and 7 closed out, a net change of +7 holders.
  • The largest Patria Investments buyer in Q4 2025 was AllianceBernstein, an estimated $9.09M added.
  • The largest Patria Investments seller in Q4 2025 was Amitell Capital, an estimated $5.83M sold.

Based on aggregated 13F filings for Q4 2025.