Vault-13

ARCOS DORADOS HOLDINGS INC ARCO

SHS CLASS -A - · Common Stock · CUSIP G0457F107 · ISIN VGG0457F1071

146 institutional holders -12 vs Q2 2023
76,686,74376.7m shares reported held*
$725.2mreported value*
17 new 40 added 63 reduced 30 sold out net sold ≈ $12.1m (-1.4m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $9.46. Options: 5 managers hold calls ($3.2m notional), 4 hold puts ($115.4k).

Trends to Q3 2023

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 131Q4 22: 136Q1 23: 145Q2 23: 158Q3 23: 146146Q3 22Q4 22Q1 23Q2 23Q3 23
Numbers
QuarterHolders
Q3 2022131
Q4 2022136
Q1 2023145
Q2 2023158
Q3 2023146

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q4 22: 64 bought or addedQ4 22: 54 cut or sold outQ4 22Q1 23: 66 bought or addedQ1 23: 70 cut or sold outQ1 23Q2 23: 87 bought or addedQ2 23: 66 cut or sold outQ2 23Q3 23: 57 bought or addedQ3 23: 93 cut or sold outQ3 23
Numbers
QuarterBought or addedCut or sold out
Q4 20226454
Q1 20236670
Q2 20238766
Q3 20235793

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$1m$2m$3m$4mQ4 22 calls: $744.6kQ4 22 puts: $301.3kQ4 22P/C 0.40Q1 23 calls: $943.7kQ1 23 puts: $66.6kQ1 23P/C 0.07Q2 23 calls: $266.5kQ2 23 puts: $110.5kQ2 23P/C 0.41Q3 23 calls: $3.2mQ3 23 puts: $115.4kQ3 23P/C 0.04
Numbers
QuarterCallsPutsP/C
Q4 2022$744.6k$301.3k0.40
Q1 2023$943.7k$66.6k0.07
Q2 2023$266.5k$110.5k0.41
Q3 2023$3.2m$115.4k0.04

Biggest buyers

FIL Ltd Added +3,979,728+4.0m
JPMORGAN CHASE & CO Added +2,888,357+2.9m
PRICE T ROWE ASSOCIATES INC /MD/ Added +1,708,594+1.7m
Itau Unibanco Holding S.A. Added +305,588+305.6k
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND New +300,000+300.0k
Sapience Investments, LLC Added +285,450+285.4k
BNP PARIBAS FINANCIAL MARKETS Added +277,589+277.6k
BNP PARIBAS ASSET MANAGEMENT Holding S.A. New +272,864+272.9k
TD Waterhouse Canada Inc. Added +251,401+251.4k
AXIOM INVESTORS LLC /DE Added +250,410+250.4k

Biggest sellers

BANK OF MONTREAL /CAN/ Reduced -2,978,744-3.0m
MILLENNIUM MANAGEMENT LLC Reduced -1,318,081-1.3m
TWO SIGMA INVESTMENTS, LP Reduced -1,071,957-1.1m
MARSHALL WACE, LLP Reduced -758,213-758.2k
Assenagon Asset Management S.A. Sold out -726,166-726.2k
GOLDMAN SACHS GROUP INC Reduced -597,263-597.3k
CITADEL ADVISORS LLC Reduced -571,814-571.8k
TWO SIGMA ADVISERS, LP Reduced -489,900-489.9k
MACQUARIE GROUP LTD Reduced -488,446-488.4k
RENAISSANCE TECHNOLOGIES LLC Reduced -380,800-380.8k

Biggest calls

Calamos Advisors LLC New $2.9m283.5k shares
CITADEL ADVISORS LLC Added $191.1k20.2k shares
GROUP ONE TRADING LLC Reduced $122.0k12.9k shares
SIMPLEX TRADING, LLC Added $2.0k300 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

CITADEL ADVISORS LLC Added $113.5k12.0k shares
GROUP ONE TRADING LLC New $1.9k200 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares
SIMPLEX TRADING, LLC Reduced $0100 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
LAZARD ASSET MANAGEMENT LLC 13G · institution +1.2 pts · filed 2026-08-14 18.9% +1.2 pts 24.7m≈ $199.0m 2026-08-14
PZENA INVESTMENT MANAGEMENT LLC 13G · institution +3.7 pts · filed 2025-10-16 8.7% +3.7 pts 11.4m≈ $92.1m 2025-10-16
Calvo David Coppel 13G · passive investor filed 2025-02-04 7.3% 9.5m≈ $76.4m 2025-02-04

Insider purchases and sales in Q3 2023

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q3 2023.

Holders, Q3 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Nuveen Asset Management, LLC 0.05% of their portfolio CHICAGO, IL 15,822,41715.8m $149.7m $149.7m 0.05% Added +1.2k +1,234
2 Invesco Ltd. 0.02% of their portfolio ATLANTA, GA 9,051,7029.1m $85.6m $85.6m 0.02% Added +139.6k +139,551
3 FIL Ltd 0.06% of their portfolio HAMILTON, D0 4,984,1915.0m $47.2m $47.2m 0.06% Added +4.0m +3,979,728
4 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 4,975,9495.0m $47.1m $47.1m 0.00% Reduced -290.5k -290,512
5 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 4,582,9974.6m $43.4m $43.4m 0.01% Added +2.9m +2,888,357
6 Moerus Capital Management LLC 8.15% of their portfolio NEW YORK, NY 2,611,9092.6m $24.7m $24.7m 8.15% Reduced -282.8k -282,790
7 PRIVATE MANAGEMENT GROUP INC 0.87% of their portfolio IRVINE, CA 2,230,8592.2m $21.1m $21.1m 0.87% Reduced -64.6k -64,608
8 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 2,036,8792.0m $19.3m $19.3m 0.00% Added +1.7m +1,708,594
9 BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio PARIS, I0 1,628,7831.6m $15.4m $15.4m 0.03% Added +277.6k +277,589
10 TimesSquare Capital Management, LLC 0.22% of their portfolio NEW YORK, NY 1,462,0001.5m $13.8m $13.8m 0.22% Added +109.6k +109,600
11 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 1,457,2231.5m $13.8m $13.8m 0.01% Reduced -1.3m -1,318,081
12 WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.03% of their portfolio CHICAGO, IL 1,112,3541.1m $10.5m $10.5m 0.03% Reduced -159.5k -159,545
13 MARSHALL WACE, LLP 0.02% of their portfolio LONDON, X0 1,106,8301.1m $10.5m $10.5m 0.02% Reduced -758.2k -758,213
14 Clearbridge Investments, LLC 0.01% of their portfolio NEW YORK, NY 993,680993.7k $9.4m $9.4m 0.01% Added +38.2k +38,159
15 Mirae Asset Global Investments Co., Ltd. 0.02% of their portfolio SEOUL, M5 962,117962.1k $8.6m $8.6m 0.02% Reduced -171.6k -171,635
16 GLOBEFLEX CAPITAL L P 1.06% of their portfolio SAN DIEGO, CA 953,258953.3k $9.0m $9.0m 1.06% Reduced -199.7k -199,660
17 Handelsbanken Fonder AB 0.05% of their portfolio STOCKHOLM, V7 897,630897.6k $8.5m $8.5m 0.05% Reduced -107.8k -107,800
18 AXIOM INVESTORS LLC /DE 0.12% of their portfolio GREENWICH, CT 863,610863.6k $8.2m $8.2m 0.12% Added +250.4k +250,410
19 VAN ECK ASSOCIATES CORP 0.02% of their portfolio NEW YORK, NY 787,139787.1k $7.4m $7.4m 0.02% Added +137.0k +136,951
20 TWO SIGMA ADVISERS, LP 0.02% of their portfolio NEW YORK, NY 783,134783.1k $7.4m $7.4m 0.02% Reduced -489.9k -489,900
21 Amundi 0.00% of their portfolio Paris, I0 746,351746.4k $7.1m $7.1m 0.00% Added +60.0k +60,000
22 Sapience Investments, LLC 1.67% of their portfolio Irvine, CA 734,995735.0k $7.0m $7.0m 1.67% Added +285.4k +285,450
23 Connor, Clark & Lunn Investment Management Ltd. 0.03% of their portfolio VANCOUVER, A1 705,094705.1k $6.7m $6.7m 0.03% Reduced -197.9k -197,906
24 Itau Unibanco Holding S.A. 0.29% of their portfolio SAO PAULO, D5 681,834681.8k $6.5m $6.5m 0.29% Added +305.6k +305,588
25 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 625,734625.7k $5.9m $5.9m 0.01% Reduced -380.8k -380,800
26 INCA Investments LLC 2.36% of their portfolio MIAMI, FL 621,614621.6k $5.9m $5.9m 2.36% Reduced -51.2k -51,160
27 Allspring Global Investments Holdings, LLC 0.01% of their portfolio CHARLOTTE, NC 542,963543.0k $5.1m $5.1m 0.01% Added +37.7k +37,733
28 Qube Research & Technologies Ltd 0.02% of their portfolio LONDON, X0 537,724537.7k $5.1m $5.1m 0.02% Added +169.6k +169,590
29 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 522,277522.3k $4.9m $4.9m 0.00% Reduced -342.8k -342,815
30 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 514,543514.5k $4.9m $4.9m 0.00% Reduced -47.1k -47,051
31 O'Keefe Stevens Advisory, Inc. 2.15% of their portfolio ROCHESTER, NY 498,340498.3k $4.7m $4.7m 2.15% Reduced -2.7k -2,719
32 American Trust Investment Advisors, LLC 2.19% of their portfolio Lebanon, NH 418,813418.8k $4.0m $4.0m 2.19% Reduced -2.9k -2,870
33 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 371,259371.3k $3.5m $3.5m 0.00% Reduced -36.2k -36,172
34 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.02% of their portfolio JUPITER, FL 359,401359.4k $3.4m $3.4m 0.02% Added +134.1k +134,056
35 DEPRINCE RACE & ZOLLO INC 0.08% of their portfolio Winter Park, FL 356,824356.8k $3.4m $3.4m 0.08% Unchanged
36 Boston Partners 0.00% of their portfolio BOSTON, MA 341,251341.3k $2.6m $2.6m 0.00% Reduced -213.6k -213,580
37 Employees Retirement System of Texas 0.05% of their portfolio AUSTIN, TX 323,807323.8k $3.1m $3.1m 0.05% Unchanged
38 AUXIER ASSET MANAGEMENT LLC 0.52% of their portfolio AURORA, OR 321,418321.4k $3.0m $3.0m 0.52% Reduced -2.5k -2,473
39 BW Gestao de Investimentos Ltda. 0.37% of their portfolio SAO PAULO, D5 315,810315.8k $3.0m $3.0m 0.37% Reduced -236.0k -236,015
40 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 313,398313.4k $3.0m $3.0m 0.00% Added +4.5k +4,538
41 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 306,784306.8k $2.9m $2.9m 0.01% Reduced -1.1m -1,071,957
42 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.01% of their portfolio TORONTO, A6 300,000300.0k $2.8m $2.8m 0.01% New
43 Hedges Asset Management LLC 2.34% of their portfolio RENO, NV 282,890282.9k $2.7m $2.7m 2.34% Reduced -5.4k -5,366
44 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.01% of their portfolio Paris, I0 272,864272.9k $2.6m $2.6m 0.01% New
45 Redwood Investments, LLC 0.34% of their portfolio BOSTON, MA 269,352269.4k $2.5m $2.5m 0.34% Reduced -83.9k -83,916
46 NORDEA INVESTMENT MANAGEMENT AB 0.00% of their portfolio STOCKHOLM, V7 263,055263.1k $2.5m $2.5m 0.00% Unchanged
47 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 261,811261.8k $2.5m $2.5m 0.00% Added +203.4k +203,413
48 RENAISSANCE GROUP LLC 0.11% of their portfolio Covington, KY 252,723252.7k $2.4m $2.4m 0.11% Added +22.8k +22,823
49 TD Waterhouse Canada Inc. 0.03% of their portfolio TORONTO, A6 251,908251.9k $2.8m $2.8m 0.03% Added +251.4k +251,401
50 Banco BTG Pactual S.A. 0.96% of their portfolio RIO DE JANEIRO, D5 249,700249.7k $2.4m $2.4m 0.96% New
51 DELTEC ASSET MANAGEMENT LLC 0.48% of their portfolio New York, NY 223,638223.6k $2.1m $2.1m 0.48% Reduced -62.8k -62,807
52 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 211,627211.6k $2.0m $2.0m 0.00% Reduced -597.3k -597,263
53 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 207,062207.1k $2.0m $2.0m 0.00% Reduced -21.7k -21,659
54 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 199,014199.0k $1.9m $1.9m 0.00% Reduced -488.4k -488,446
55 ACORN FINANCIAL ADVISORY SERVICES INC /ADV 0.33% of their portfolio Reston, VA 196,622196.6k $1.9m $1.9m 0.33% Reduced -223 -223
56 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 187,114187.1k $1.8m $1.8m 0.01% Reduced -10.9k -10,882
57 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 170,473170.5k $1.6m $1.6m 0.00% Reduced -7.3k -7,253
58 MIRABELLA FINANCIAL SERVICES LLP 0.23% of their portfolio London, X0 170,263170.3k $1.6m $1.6m 0.23% Added +15.7k +15,747
59 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 162,314162.3k $1.5m $1.5m 0.00% Added +6.7k +6,655
60 Black Creek Investment Management Inc. 0.06% of their portfolio TORONTO, A6 160,000160.0k $1.5m $1.5m 0.06% Reduced -30.0k -30,000
61 Ruffer LLP 0.08% of their portfolio LONDON, X0 152,142152.1k $1.4m $1.4m 0.08% Unchanged
62 Long Focus Capital Management, LLC 0.20% of their portfolio SAN JUAN, PR 150,000150.0k $1.4m $1.4m 0.20% Unchanged
63 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 149,319149.3k $1.4m $1.4m 0.00% Reduced -571.8k -571,814
64 Odey Asset Management LLP 1.67% of their portfolio LONDON, UNITED KINGDOM, X0 141,500141.5k $1.3m $1.3m 1.67% New
65 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 125,145125.1k $1.2m $1.2m 0.00% Reduced -5.8k -5,835
66 State of New Jersey Common Pension Fund D 0.00% of their portfolio TRENTON, NJ 123,225123.2k $1.2m $1.2m 0.00% Unchanged
67 PDT Partners, LLC 0.14% of their portfolio New York, NY 120,179120.2k $1.1m $1.1m 0.14% Added +25.8k +25,779
68 CIBC WORLD MARKET INC. 0.00% of their portfolio TORONTO, A6 112,412112.4k $1.1m $1.1m 0.00% Added +4.3k +4,308
69 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 111,229111.2k $1.1m $1.1m 0.00% Reduced -74.8k -74,805
70 Freedom Investment Management, Inc. 0.12% of their portfolio SOUTH WINDSOR, CT 106,722106.7k $1.0m $1.0m 0.12% Added +62.0k +62,004
71 ADVISORY RESEARCH INC 0.14% of their portfolio CHICAGO, IL 106,493106.5k $1.0m $1.0m 0.14% Reduced -54.2k -54,157
72 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 102,169102.2k $966.5k $966.5k 0.00% Reduced -1.3k -1,314
73 AlphaCore Capital LLC 0.15% of their portfolio LA JOLLA, CA 98,95599.0k $936.1k $936.1k 0.15% New
74 BlackRock Inc. 0.00% of their portfolio New York, NY 91,70091.7k $867.5k $867.5k 0.00% Added +6.2k +6,202
75 Diligent Investors, LLC 0.24% of their portfolio REDLANDS, CA 83,28483.3k $787.9k $787.9k 0.24% Reduced -504 -504
76 Yorktown Management & Research Co Inc 0.78% of their portfolio Forest, VA 73,00073.0k $690.6k $690.6k 0.78% Unchanged
77 Harbour Capital Advisors, LLC 0.19% of their portfolio TYSONS CORNER, VA 68,63068.6k $649.2k $649.2k 0.19% New
78 NJ State Employees Deferred Compensation Plan 0.09% of their portfolio TRENTON, NJ 65,77965.8k $622.3k $622.3k 0.09% Unchanged
79 Engineers Gate Manager LP 0.02% of their portfolio NEW YORK, NY 62,31162.3k $589.5k $589.5k 0.02% Reduced -91.4k -91,393
80 DGS Capital Management, LLC 0.26% of their portfolio JERSEY CITY, NJ 56,95557.0k $538.8k $538.8k 0.26% Added +1.2k +1,154
81 Oliver Luxxe Assets LLC 0.12% of their portfolio GLADSTONE, NJ 49,00149.0k $463.5k $463.5k 0.12% New
82 UBS Group AG 0.00% of their portfolio ZURICH, V8 46,60846.6k $440.9k $440.9k 0.00% Reduced -28.7k -28,706
83 Walleye Capital LLC 0.01% of their portfolio NEW YORK, NY 42,94942.9k $406.3k $406.3k 0.01% New
84 Independent Advisor Alliance 0.02% of their portfolio CHARLOTTE, NC 38,80238.8k $367.1k $367.1k 0.02% Added +9 +9
85 Moors & Cabot, Inc. 0.02% of their portfolio BOSTON, MA 36,92336.9k $349.3k $349.3k 0.02% Reduced -19.0k -18,986
86 Aquatic Capital Management LLC 0.01% of their portfolio CHICAGO, IL 32,80032.8k $310.0k $310.0k 0.01% Added +29.7k +29,700
87 Investors Research Corp 0.08% of their portfolio ATLANTA, GA 32,07332.1k $303.4k $303.4k 0.08% Reduced -2.4k -2,379
88 Man Group plc 0.00% of their portfolio LONDON, X0 31,85831.9k $301.4k $301.4k 0.00% New
89 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 30,03930.0k $339.9k $339.9k 0.00% Reduced -3.0m -2,978,744
90 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 30,00330.0k $283.8k $283.8k 0.00% Reduced -636 -636
91 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 26,95627.0k $255.0k $255.0k 0.00% Added +12.3k +12,317
92 Inlet Private Wealth, LLC 0.08% of their portfolio Jupiter, FL 26,38826.4k $249.6k $249.6k 0.08% Reduced -305 -305
93 GSA CAPITAL PARTNERS LLP 0.02% of their portfolio LONDON, X0 24,24724.2k $229.0k $229.0k 0.02% Reduced -46.9k -46,898
94 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 23,74723.7k $224.6k $224.6k 0.00% Added +2.6k +2,577
95 OBERWEIS ASSET MANAGEMENT INC/ 0.02% of their portfolio LISLE, IL 23,20023.2k $219.5k $219.5k 0.02% Unchanged
96 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 21,25321.3k $201.0k $201.0k 0.00% New
97 Jump Financial, LLC 0.01% of their portfolio Chicago, IL 21,12721.1k $199.9k $199.9k 0.01% Reduced -120.5k -120,527
98 CLOUGH CAPITAL PARTNERS L P 0.02% of their portfolio Boston, MA 20,61220.6k $195.0k $195.0k 0.02% New
99 QUATTRO FINANCIAL ADVISORS LLC 0.08% of their portfolio The Woodlands, TX 20,55520.6k $194.4k $194.4k 0.08% Unchanged
100 BFSG, LLC 0.03% of their portfolio IRVINE, CA 19,63519.6k $186.0k $186.0k 0.03% New