Seafarer Capital Partners Portfolio Concentration Analysis for June 30, 2026

Introduction

As of June 30, 2026, Seafarer Capital Partners' portfolio held a total value of $433.9 million.

Major Holdings

• The largest position was ITUB (Itau Unibanco H Spon PRF), representing approximately 20.54% of the portfolio.
• BUD (Anheuser Busch Inbev SA NV) was the second largest holding, accounting for about 19.63%.
• BAP (BAP US), with a portfolio allocation of roughly 18.75%, was the third largest position.
• ABEV (Ambev - SA) followed closely, making up approximately 17.42% of the portfolio.
• XPP, known as XP Inc., held a significant allocation of about 14.65%, despite its null sector designation in some data points.

These five stocks alone accounted for nearly 90% (91%) of the total portfolio value, showcasing a highly concentrated investment strategy focused primarily on large-cap entities within Latin America and select global consumer companies. Other substantial holdings included HDFC Bank, contributing about 6.83%.

Sector Allocation

• Seafarer Capital Partners allocated approximately 27.4% of their portfolio to the Financial Services sector, including major holdings like ITUB and BUD.
• The Consumer Defensive sector received a substantial allocation of around 37.8%, encompassing companies such as BAP, ABEV, and KOF (Coca-Cola Femsa).

This concentration was further complicated by the fact that roughly 34.1% of the portfolio's value is held in stocks with unknown sectors according to available data.

Conclusion

The portfolio demonstrates significant weight concentrated within a small number of holdings, primarily favoring Financial Services and Consumer Defensive names. The allocation towards unknown sectors suggests that further research might be needed for complete sector clarity.