Seafarer Capital Partners, LLC — 13F Holdings & Portfolio
CIK 1697721 · latest 13F-HR filed 2026-11-05
Seafarer Capital Partners, LLC manages $368.7M in 13F-reported U.S. long-equity assets across 9 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are ITUB (25.24%), XP (22.27%), BAP (21.52%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 0 new positions and exited 0; 2 existing positions rose in reported value and 4 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Long-equity book
Distinct positions
Filed 2026-11-05
vs 2026-06-30
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q3 26Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q2 26 → Q3 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
4 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 100%Cumulative share of the portfolio held in the largest N positions.
As of the firm’s regulatory filing dated Mar 31, 2026.
SUITE 200
LARKSPUR, CA 94939
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| Borst, Nicholas, Stephen Control | VICE PRESIDENT since Jan 2018 | Less than 5% | Individual |
| Espinosa, Paul Control | CO-CHIEF INVESTMENT OFFICER since Aug 2025 | Less than 5% | Individual |
| FOSTER REVOCABLE LIVING TRUST (PLEASE SEE SCHEDULE D - MISCELLANEOUS FOR FULL NAME OF TRUST) Control | MEMBER since Jul 2011 | 75% or more | Domestic Entity |
| FOSTER, ANDREW, THEODORE Control | CO-CHIEF INVESTMENT OFFICER, MANAGING MEMBER since Apr 2011 | Less than 5% | Individual |
| FOSTER, MICHELLE, MARIE Control | CHIEF EXECUTIVE OFFICER, MANAGING MEMBER since Apr 2011 | Less than 5% | Individual |
| LENIK, DAVID, CHARLES Control | CHIEF COMPLIANCE OFFICER since Jun 2016 | Less than 5% | Individual |
| FOSTER, ANDREW, THEODORE Control Indirect owner via FOSTER REVOCABLE LIVING TRUST (PLEASE SEE SCHEDULE D - MISCELLANEOUS FOR FULL NAME OF TRUST) | TRUSTEE since Aug 2009 | 25–50% | Individual |
| FOSTER, MICHELLE, MARIE Control Indirect owner via FOSTER REVOCABLE LIVING TRUST (PLEASE SEE SCHEDULE D - MISCELLANEOUS FOR FULL NAME OF TRUST) | TRUSTEE since Aug 2009 | 25–50% | Individual |
Ownership & leadership changes · 10 filings with changes since Nov 14, 2011
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
- AddedEspinosa, Paul · CO-CHIEF INVESTMENT OFFICER · Less than 5% · control person
- ChangedFOSTER, ANDREW, THEODORE · title CHIEF INVESTMENT OFFICER, MANAGING MEMBER → CO-CHIEF INVESTMENT OFFICER, MANAGING MEMBER
- No longer listedLAMMERT, JAMES, KEVIN · CHIEF FINANCIAL OFFICER · Less than 5% · control person · listed since Jul 2016
- ChangedBorst, Nicholas, Stephen · now a control person
- AddedBorst, Nicholas, Stephen · VICE PRESIDENT · Less than 5%
- ChangedFOSTER, ANDREW, THEODORE · title CHIEF EXECUTIVE OFFICER, CHIEF INVESTMENT OFFICER, MANAGING MEMBER → CHIEF INVESTMENT OFFICER, MANAGING MEMBER
- ChangedFOSTER, MICHELLE, MARIE · title PRESIDENT, MANAGING MEMBER → CHIEF EXECUTIVE OFFICER, MANAGING MEMBER
- AddedLAMMERT, JAMES, KEVIN · CHIEF FINANCIAL OFFICER · Less than 5% · control person
- No longer listedJAQUET, CATHERINE, GRAY · CHIEF COMPLIANCE OFFICER · Less than 5% · listed since Oct 2011
- AddedLENIK, DAVID, CHARLES · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ChangedFOSTER, MICHELLE, MARIE · title CHIEF FINANCIAL OFFICER, DIRECTOR OF FUND ADMINISTRATION, MANAGING MEMBER → PRESIDENT, MANAGING MEMBER
- ChangedFOSTER, ANDREW, THEODORE · indirect via FOSTER REVOCABLE LIVING TRUST (PLEASE SEE SCHEDULE D - MISCELLANEOUS FOR FULL NAME OF TRUST): ownership 50–75% → 25–50%
- ChangedFOSTER, MICHELLE, MARIE · indirect via FOSTER REVOCABLE LIVING TRUST (PLEASE SEE SCHEDULE D - MISCELLANEOUS FOR FULL NAME OF TRUST): ownership 50–75% → 25–50%
- No longer listedFOSTER, ANDREW, THEODORE · TRUSTEE · 50–75% · indirect via THE ANDREW THEODORE FOSTER AND MICHELLE MARIE FOSTER REVOCABLE LIVING TRUST UNDER AMENDED AND RESTATED REVOCABLE TRUST DECLARATI · control person · listed since Aug 2009
- No longer listedFOSTER, MICHELLE · TRUSTEE · 50–75% · indirect via THE ANDREW THEODORE FOSTER AND MICHELLE MARIE FOSTER REVOCABLE LIVING TRUST UNDER AMENDED AND RESTATED REVOCABLE TRUST DECLARATI · control person · listed since Aug 2009
- No longer listedTHE ANDREW THEODORE FOSTER AND MICHELLE MARIE FOSTER REVOCABLE LIVING TRUST UNDER AMENDED AND RESTATED REVOCABLE TRUST DECLARATI · MEMBER · 75% or more · control person · listed since Jul 2011
- AddedFOSTER REVOCABLE LIVING TRUST (PLEASE SEE SCHEDULE D - MISCELLANEOUS FOR FULL NAME OF TRUST) · MEMBER · 75% or more · control person
- AddedFOSTER, ANDREW, THEODORE · TRUSTEE · 50–75% · indirect via FOSTER REVOCABLE LIVING TRUST (PLEASE SEE SCHEDULE D - MISCELLANEOUS FOR FULL NAME OF TRUST) · control person
- AddedFOSTER, MICHELLE, MARIE · TRUSTEE · 50–75% · indirect via FOSTER REVOCABLE LIVING TRUST (PLEASE SEE SCHEDULE D - MISCELLANEOUS FOR FULL NAME OF TRUST) · control person
Older changes (1 more filing)
- ListedFOSTER, ANDREW, THEODORE · CHIEF EXECUTIVE OFFICER, CHIEF INVESTMENT OFFICER, MANAGING MEMBER · Less than 5% · control person
- ListedFOSTER, ANDREW, THEODORE · TRUSTEE · 50–75% · indirect via THE ANDREW THEODORE FOSTER AND MICHELLE MARIE FOSTER REVOCABLE LIVING TRUST UNDER AMENDED AND RESTATED REVOCABLE TRUST DECLARATI · control person
- ListedFOSTER, MICHELLE · TRUSTEE · 50–75% · indirect via THE ANDREW THEODORE FOSTER AND MICHELLE MARIE FOSTER REVOCABLE LIVING TRUST UNDER AMENDED AND RESTATED REVOCABLE TRUST DECLARATI · control person
- ListedFOSTER, MICHELLE, MARIE · CHIEF FINANCIAL OFFICER, DIRECTOR OF FUND ADMINISTRATION, MANAGING MEMBER · Less than 5% · control person
- ListedJAQUET, CATHERINE, GRAY · CHIEF COMPLIANCE OFFICER · Less than 5%
- ListedTHE ANDREW THEODORE FOSTER AND MICHELLE MARIE FOSTER REVOCABLE LIVING TRUST UNDER AMENDED AND RESTATED REVOCABLE TRUST DECLARATI · MEMBER · 75% or more · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Trims
- Ambev - SA-$72.5M -95.9%
- Anheuser Busch Inbev SA NV-$9.2M -10.8%
- HDFC Bank LTD-$4.0M -13.5%
- ARCOS DORADOS HOLDINGS-$364.0K -11.3%
Seafarer Capital Partners, LLC Holdings (2026-09-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | Itau Unibanco H Spon PRF | ITUB | 465562106 | $93.1M | 25.24% | 10,909,142 | SH |
| 2 | XP Inc. | XP | G98239109 | $82.1M | 22.27% | 3,911,000 | SH |
| 3 | BAP US | BAP | G2519Y108 | $79.4M | 21.52% | 208,900 | SH |
| 4 | Anheuser Busch Inbev SA NV | BUD | 03524A108 | $76.0M | 20.61% | 1,034,000 | SH |
| 5 | HDFC Bank LTD | HDB | 40415F101 | $25.6M | 6.96% | 1,148,000 | SH |
| 6 | Suzano SA | SUZ | 86959K105 | $3.4M | 0.93% | 400,000 | SH |
| 7 | COCA-COLA FEMSA SAB-SP ADR | KOF | 191241108 | $3.1M | 0.85% | 29,000 | SH |
| 8 | Ambev - SA | ABEV | 02319V103 | $3.1M | 0.85% | 1,069,000 | SH |
| 9 | ARCOS DORADOS HOLDINGS | ARCO | G0457F107 | $2.9M | 0.78% | 400,000 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-05 | $368.7M | 9 | 0001697721-26-000006 |
| 2026-06-30 | 2026-08-04 | $433.9M | 9 | 0001697721-26-000005 |
| 2026-03-31 | 2026-05-05 | $435.8M | 9 | 0001697721-26-000004 |
| 2025-12-31 | 2026-01-09 | $385.0M | 9 | 0001697721-26-000003 |
CORTE MADERA, CA 94976