Vault-13

ARCOS DORADOS HOLDINGS INC ARCO

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

152 institutional holders -13 vs Q1 2025
86,894,78786.9m shares reported held*
$685.4mreported value*
21 new 58 added 47 reduced 33 sold out net bought ≈ $27.4m (+3.5m 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 ($2.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $7.89. Options: 5 managers hold calls ($950.1k notional), 6 hold puts ($2.1m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 131Q4 22: 136Q1 23: 145Q2 23: 158Q3 23: 146Q4 23: 177Q1 24: 181Q2 24: 182Q3 24: 168Q4 24: 162Q1 25: 165Q2 25: 152152Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022131
Q4 2022136
Q1 2023145
Q2 2023158
Q3 2023146
Q4 2023177
Q1 2024181
Q2 2024182
Q3 2024168
Q4 2024162
Q1 2025165
Q2 2025152

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q3 23: 57 bought or addedQ3 23: 93 cut or sold outQ4 23: 84 bought or addedQ4 23: 71 cut or sold outQ4 23Q1 24: 91 bought or addedQ1 24: 83 cut or sold outQ2 24: 83 bought or addedQ2 24: 89 cut or sold outQ2 24Q3 24: 90 bought or addedQ3 24: 92 cut or sold outQ4 24: 86 bought or addedQ4 24: 80 cut or sold outQ4 24Q1 25: 88 bought or addedQ1 25: 66 cut or sold outQ2 25: 79 bought or addedQ2 25: 80 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20235793
Q4 20238471
Q1 20249183
Q2 20248389
Q3 20249092
Q4 20248680
Q1 20258866
Q2 20257980

Calls vs puts

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

CallsPuts
$0$1m$2m$3mQ3 24 calls: $383.4kQ3 24 puts: $335.7kQ3 24P/C 0.88Q4 24 calls: $332.2kQ4 24 puts: $305.4kQ4 24P/C 0.92Q1 25 calls: $263.8kQ1 25 puts: $414.1kQ1 25P/C 1.57Q2 25 calls: $950.1kQ2 25 puts: $2.1mQ2 25P/C 2.19
Numbers
QuarterCallsPutsP/C
Q3 2024$383.4k$335.7k0.88
Q4 2024$332.2k$305.4k0.92
Q1 2025$263.8k$414.1k1.57
Q2 2025$950.1k$2.1m2.19

Biggest buyers

LAZARD ASSET MANAGEMENT LLC New +14,873,278+14.9m
PZENA INVESTMENT MANAGEMENT LLC New +6,533,482+6.5m
SPX Gestao de Recursos Ltda Added +2,027,722+2.0m
BRIGHTLIGHT CAPITAL MANAGEMENT LP New +1,897,600+1.9m
FRANKLIN RESOURCES INC Added +1,319,031+1.3m
ROYAL BANK OF CANADA Added +796,057+796.1k
State of New Jersey Common Pension Fund D New +728,777+728.8k
Rockefeller Capital Management L.P. Added +400,113+400.1k
BANK OF AMERICA CORP /DE/ Added +327,566+327.6k
Inlet Private Wealth, LLC Added +319,700+319.7k

Biggest sellers

PRICE T ROWE ASSOCIATES INC /MD/ Reduced -8,404,510-8.4m
JPMORGAN CHASE & CO Reduced -5,254,700-5.3m
Fourth Sail Capital LP Sold out -3,318,350-3.3m
Invesco Ltd. Reduced -2,705,519-2.7m
Medina Value Partners, LLC Sold out -1,649,277-1.6m
ALTA FOX CAPITAL MANAGEMENT, LLC Sold out -1,120,700-1.1m
Fiera Capital Corp Sold out -666,246-666.2k
MILLENNIUM MANAGEMENT LLC Reduced -486,694-486.7k
Mirae Asset Global Investments Co., Ltd. Sold out -476,537-476.5k
VOLORIDGE INVESTMENT MANAGEMENT, LLC Reduced -376,076-376.1k

Biggest calls

CITADEL ADVISORS LLC Added $557.0k70.6k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $276.9k35.1k shares
SIMPLEX TRADING, LLC Added $94.0k12.0k shares
GROUP ONE TRADING LLC Added $22.1k2.8k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $841.9k106.7k shares
SIMPLEX TRADING, LLC Added $601.0k76.2k shares
CITADEL ADVISORS LLC Added $343.2k43.5k shares
WOLVERINE TRADING, LLC New $160.3k20.6k shares
GROUP ONE TRADING LLC Added $137.3k17.4k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 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 Q2 2025

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 Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 LAZARD ASSET MANAGEMENT LLC 0.16% of their portfolio NEW YORK, NY 14,873,27814.9m $117.3m $117.3m 0.16% New
2 Nuveen, LLC 0.02% of their portfolio CHARLOTTE, NC 9,836,9379.8m $77.6m $77.6m 0.02% Reduced -36.8k -36,824
3 PZENA INVESTMENT MANAGEMENT LLC 0.17% of their portfolio NEW YORK, NY 6,533,4826.5m $51.5m $51.5m 0.17% New
4 SPX Gestao de Recursos Ltda 3.35% of their portfolio RIO DE JANEIRO, D5 4,534,4964.5m $35.8m $35.8m 3.35% Added +2.0m +2,027,722
5 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 3,907,9293.9m $30.8m $30.8m 0.01% Added +1.3m +1,319,031
6 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.05% of their portfolio CAUSEWAY BAY, K3 3,508,7073.5m $27.7m $27.7m 0.05% Added +106.0k +105,972
7 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 3,409,8943.4m $26.9m $26.9m 0.00% Reduced -143.3k -143,306
8 Moerus Capital Management LLC 11.20% of their portfolio NEW YORK, NY 3,327,5513.3m $26.3m $26.3m 11.20% Reduced -224.5k -224,462
9 PRIVATE MANAGEMENT GROUP INC 0.82% of their portfolio IRVINE, CA 3,182,9983.2m $25.1m $25.1m 0.82% Reduced -22.9k -22,915
10 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 2,129,7562.1m $16.8m $16.8m 0.00% Reduced -8.4m -8,404,510
11 BRIGHTLIGHT CAPITAL MANAGEMENT LP 8.26% of their portfolio WESTPORT, CT 1,897,6001.9m $15.0m $15.0m 8.26% New
12 Perpetual Ltd 0.16% of their portfolio SYDNEY, NEW SOUTH WALES, C3 1,744,9141.7m $13.8m $13.8m 0.16% Added +66.9k +66,900
13 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,735,0111.7m $13.7m $13.7m 0.00% Reduced -5.3m -5,254,700
14 Emeth Value Capital, LLC 10.74% of their portfolio NEW ORLEANS, LA 1,530,3401.5m $12.1m $12.1m 10.74% Added +138.7k +138,735
15 MANAGED ASSET PORTFOLIOS, LLC 1.49% of their portfolio ROCHESTER, MI 1,457,6271.5m $11.5m $11.5m 1.49% Added +62.3k +62,317
16 INCA Investments LLC 4.29% of their portfolio MIAMI, FL 1,398,5531.4m $11.0m $11.0m 4.29% Added +97.3k +97,298
17 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,334,9821.3m $10.5m $10.5m 0.00% Added +796.1k +796,057
18 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 1,086,1371.1m $8.6m $8.6m 0.00% Reduced -2.7m -2,705,519
19 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 976,749976.7k $7.7m $7.7m 0.00% Added +327.6k +327,566
20 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 915,751915.8k $7.2m $7.2m 0.01% Reduced -128.3k -128,296
21 Clearbridge Investments, LLC 0.01% of their portfolio NEW YORK, NY 882,072882.1k $7.0m $7.0m 0.01% Reduced -14.4k -14,444
22 TimesSquare Capital Management, LLC 0.10% of their portfolio NEW YORK, NY 873,702873.7k $6.9m $6.9m 0.10% Reduced -223.5k -223,538
23 GLOBEFLEX CAPITAL L P 0.53% of their portfolio SAN DIEGO, CA 815,609815.6k $6.4m $6.4m 0.53% Unchanged
24 State of New Jersey Common Pension Fund D 0.02% of their portfolio TRENTON, NJ 728,777728.8k $5.8m $5.8m 0.02% New
25 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 710,456710.5k $5.6m $5.6m 0.01% Added +400.1k +400,113
26 Amundi 0.00% of their portfolio Paris, I0 697,052697.1k $5.4m $5.4m 0.00% Unchanged
27 OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) 0.14% of their portfolio CHICAGO, IL 661,072661.1k $5.2m $5.2m 0.14% Added +70.7k +70,715
28 Qube Research & Technologies Ltd 0.01% of their portfolio LONDON, X0 619,264619.3k $4.9m $4.9m 0.01% Reduced -75.9k -75,861
29 PDT Partners, LLC 0.25% of their portfolio New York, NY 564,473564.5k $4.5m $4.5m 0.25% Added +171.8k +171,800
30 O'Keefe Stevens Advisory, Inc. 1.15% of their portfolio ROCHESTER, NY 517,208517.2k $4.1m $4.1m 1.15% Added +11.0k +10,961
31 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 433,237433.2k $3.4m $3.4m 0.00% Added +191.6k +191,560
32 GENERAL AMERICAN INVESTORS CO INC 0.23% of their portfolio NEW YORK, NY 431,694431.7k $3.4m $3.4m 0.23% Added +50.0k +50,000
33 Cubist Systematic Strategies, LLC 0.04% of their portfolio STAMFORD, CT 425,746425.7k $3.4m $3.4m 0.04% Added +295.5k +295,504
34 VAN ECK ASSOCIATES CORP 0.00% of their portfolio NEW YORK, NY 382,752382.8k $3.0m $3.0m 0.00% Reduced -81.4k -81,415
35 Inlet Private Wealth, LLC 0.72% of their portfolio Jupiter, FL 369,088369.1k $2.9m $2.9m 0.72% Added +319.7k +319,700
36 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 368,434368.4k $2.9m $2.9m 0.00% Added +171.6k +171,600
37 AUXIER ASSET MANAGEMENT LLC 0.38% of their portfolio AURORA, OR 330,375330.4k $2.6m $2.6m 0.38% Added +12.6k +12,582
38 American Capital Advisory, LLC 1.22% of their portfolio KETCHUM, ID 310,048310.0k $2.4m $2.4m 1.22% Added +70.9k +70,905
39 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.01% of their portfolio JUPITER, FL 288,872288.9k $2.3m $2.3m 0.01% Reduced -376.1k -376,076
40 THOMPSON SIEGEL & WALMSLEY LLC 0.04% of their portfolio RICHMOND, VA 281,400281.4k $2.2m $2.2m 0.04% Added +37.1k +37,100
41 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 273,482273.5k $2.2m $2.2m 0.00% Added +267.8k +267,809
42 Black Creek Investment Management Inc. 0.10% of their portfolio TORONTO, A6 270,000270.0k $2.1m $2.1m 0.10% Unchanged
43 Seafarer Capital Partners, LLC 0.56% of their portfolio CORTE MADERA, CA 260,000260.0k $2.1m $2.1m 0.56% Added +60.0k +60,000
44 Boston Partners 0.00% of their portfolio BOSTON, MA 254,519254.5k $2.0m $2.0m 0.00% Unchanged
45 Hedges Asset Management LLC 1.56% of their portfolio RENO, NV 246,100246.1k $1.9m $1.9m 1.56% Reduced -88.8k -88,800
46 SAPIENT CAPITAL LLC 0.03% of their portfolio INDIANAPOLIS, IN 245,501245.5k $1.9m $1.9m 0.03% Reduced -31.3k -31,300
47 Handelsbanken Fonder AB 0.01% of their portfolio STOCKHOLM, V7 240,928240.9k $1.9m $1.9m 0.01% Reduced -60.0k -60,000
48 ACORN FINANCIAL ADVISORY SERVICES INC /ADV 0.29% of their portfolio Reston, VA 223,523223.5k $1.8m $1.8m 0.29% Reduced -6.3k -6,315
49 American Trust Investment Advisors, LLC 0.87% of their portfolio Lebanon, NH 219,459219.5k $1.7m $1.7m 0.87% Reduced -88.5k -88,545
50 Bleakley Financial Group, LLC 0.04% of their portfolio PARSIPPANY, NJ 215,971216.0k $1.7m $1.7m 0.04% Added +8.1k +8,112
51 West Tower Group, LLC 3.35% of their portfolio RICHMOND, VA 196,000196.0k $1.5m $1.5m 3.35% Added +48.5k +48,546
52 RENAISSANCE GROUP LLC 0.06% of their portfolio Covington, KY 189,235189.2k $1.5m $1.5m 0.06% Reduced -27.9k -27,905
53 Epoch Investment Partners, Inc. 0.01% of their portfolio New York, NY 179,731179.7k $1.4m $1.4m 0.01% New
54 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 174,477174.5k $1.4m $1.4m 0.00% Added +16.6k +16,610
55 UBS Group AG 0.00% of their portfolio ZURICH, V8 174,252174.3k $1.4m $1.4m 0.00% Added +109.4k +109,410
56 Catalyst Capital Advisors LLC 0.03% of their portfolio San Juan, PR 170,090170.1k $1.3m $1.3m 0.03% Added +10.2k +10,250
57 Nebula Research & Development LLC 0.11% of their portfolio New York, NY 166,767166.8k $1.3m $1.3m 0.11% Added +9.9k +9,892
58 Jump Financial, LLC 0.02% of their portfolio Chicago, IL 166,639166.6k $1.3m $1.3m 0.02% New
59 DELTEC ASSET MANAGEMENT LLC 0.23% of their portfolio New York, NY 166,400166.4k $1.3m $1.3m 0.23% Reduced -2.1k -2,138
60 Trexquant Investment LP 0.01% of their portfolio STAMFORD, CT 138,632138.6k $1.1m $1.1m 0.01% Reduced -37.2k -37,223
61 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 135,851135.9k $1.1m $1.1m 0.00% Reduced -343.6k -343,629
62 Ruffer LLP 0.04% of their portfolio LONDON, X0 127,142127.1k $1.0m $1.0m 0.04% New
63 CLOUGH CAPITAL PARTNERS L P 0.09% of their portfolio Boston, MA 117,184117.2k $925.0k $925.0k 0.09% Reduced -41.8k -41,791
64 BlackRock, Inc. 0.00% of their portfolio New York, NY 117,113117.1k $924.0k $924.0k 0.00% Reduced -84.4k -84,416
65 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 115,916115.9k $913.2k $913.2k 0.00% Reduced -66.8k -66,794
66 Dodge & Cox 0.00% of their portfolio San Francisco, CA 109,966110.0k $867.6k $867.6k 0.00% Added +4.0k +3,966
67 Penn Mutual Asset Management 1.48% of their portfolio Conshohocken, PA 106,000106.0k $836.3k $836.3k 1.48% Added +40.0k +40,000
68 VELA Investment Management, LLC 0.24% of their portfolio NEW ALBANY, OH 102,000102.0k $804.8k $804.8k 0.24% New
69 RWA WEALTH PARTNERS, LLC 0.01% of their portfolio BOSTON, MA 100,000100.0k $789.0k $789.0k 0.01% New
70 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 92,56092.6k $730.3k $730.3k 0.00% Added +626 +626
71 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 85,15585.2k $671.9k $671.9k 0.00% Reduced -74.2k -74,212
72 Harbour Capital Advisors, LLC 0.14% of their portfolio TYSONS CORNER, VA 84,52084.5k $659.3k $659.3k 0.14% Reduced -7.6k -7,635
73 Engineers Gate Manager LP 0.01% of their portfolio NEW YORK, NY 84,48584.5k $666.6k $666.6k 0.01% Reduced -28.2k -28,182
74 FOX RUN MANAGEMENT, L.L.C. 0.11% of their portfolio GREENWICH, CT 81,78181.8k $645.3k $645.3k 0.11% Added +18.8k +18,791
75 Banco BTG Pactual S.A. 0.13% of their portfolio RIO DE JANEIRO, D5 79,70079.7k $628.8k $628.8k 0.13% Reduced -240.6k -240,598
76 FIDELIS CAPITAL PARTNERS, LLC 0.05% of their portfolio TAMPA, FL 75,00075.0k $512.2k $512.2k 0.05% Added +25.0k +25,000
77 NJ State Employees Deferred Compensation Plan 0.06% of their portfolio TRENTON, NJ 65,77965.8k $519.0k $519.0k 0.06% Unchanged
78 DUMAC, INC. 3.02% of their portfolio DURHAM, NC 60,85760.9k $480.2k $480.2k 3.02% Unchanged
79 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 59,91659.9k $472.7k $472.7k 0.00% Reduced -2.3k -2,293
80 Verition Fund Management LLC 0.00% of their portfolio GREENWICH, CT 59,30059.3k $467.9k $467.9k 0.00% Reduced -7.2k -7,200
81 TWO SIGMA ADVISERS, LP 0.00% of their portfolio NEW YORK, NY 56,18556.2k $443.3k $443.3k 0.00% Reduced -137.4k -137,449
82 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 54,46954.5k $430.0k $430.0k 0.00% Unchanged
83 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 53,98654.0k $425.9k $425.9k 0.00% Reduced -486.7k -486,694
84 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 53,33253.3k $420.8k $420.8k 0.00% Added +12.8k +12,785
85 WINTON GROUP Ltd 0.02% of their portfolio LONDON, X0 50,07750.1k $395.1k $395.1k 0.02% Added +34.1k +34,094
86 HANCOCK WHITNEY CORP 0.01% of their portfolio GULFPORT, MS 48,80848.8k $385.1k $385.1k 0.01% Added +17.5k +17,526
87 Moors & Cabot, Inc. 0.02% of their portfolio BOSTON, MA 47,36147.4k $373.7k $373.7k 0.02% Reduced -179 -179
88 Baker Ellis Asset Management LLC 0.05% of their portfolio Vancouver, WA 44,50044.5k $351.1k $351.1k 0.05% Added +4.0k +4,000
89 Petrus Trust Company, LTA 0.03% of their portfolio Dallas, TX 39,40539.4k $310.9k $310.9k 0.03% Unchanged
90 Diligent Investors, LLC 0.07% of their portfolio REDLANDS, CA 38,09638.1k $300.6k $300.6k 0.07% Reduced -34.6k -34,598
91 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 37,60837.6k $296.7k $296.7k 0.00% Added +1.9k +1,889
92 SIMPLEX TRADING, LLC 0.01% of their portfolio CHICAGO, IL 37,00037.0k $291.0k $291.0k 0.01% Added +36.2k +36,181
93 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 31,80831.8k $251.0k $251.0k 0.00% Added +19.1k +19,074
94 NAVELLIER & ASSOCIATES INC 0.03% of their portfolio Reno, NV 27,50027.5k $217.0k $217.0k 0.03% Unchanged
95 Bridgefront Capital, LLC 0.06% of their portfolio AUSTIN, TX 26,96027.0k $212.7k $212.7k 0.06% Added +10.9k +10,890
96 CIBC WORLD MARKET INC. 0.00% of their portfolio TORONTO, A6 25,60025.6k $202.0k $202.0k 0.00% Added +13.1k +13,100
97 Sanctuary Advisors, LLC 0.00% of their portfolio INDIANAPOLIS, IN 25,57525.6k $201.8k $201.8k 0.00% Added +14.8k +14,802
98 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 25,28625.3k $199.5k $199.5k 0.00% Unchanged
99 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 22,54422.5k $177.9k $177.9k 0.00% Added +1 +1
100 BFSG, LLC 0.02% of their portfolio IRVINE, CA 22,33822.3k $176.2k $176.2k 0.02% Reduced -632 -632