Patria Investments Ltd (PAX)
Patria Investments Ltd reported revenue of $374.2M in fiscal 2023, up 14.2% from a year earlier. Net income was $71.9M, a net margin of 19.2%. Operating cash flow minus capital spending left $142.3M of free cash flow in fiscal 2023. At December 31, 2024 it held $33.4M in cash. Its latest periodic report to the SEC is the annual report (foreign issuer) (20-F) filed on April 30, 2026.
Key facts about Patria Investments Ltd
- Net worth
- Patria Investments Ltd has a market value (market cap) of $1.5B at the latest share price, and shareholders' equity of $481.1M on its balance sheet at December 31, 2024. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2023 revenue was $374.2M (+14.2% year on year), with net income of $71.9M.
- Cash flow
- In fiscal 2023 operations brought in $145.9M of cash; after $3.6M of capital spending, free cash flow was $142.3M.
- Latest report
- The latest periodic report (annual report (foreign issuer), 20-F) was filed with the SEC on April 30, 2026 and covers the period to December 31, 2025. Open on SEC EDGAR
What Patria Investments Ltd does
Patria Investments Ltd is registered with the SEC under industry code SIC 6282 (Investment Advice). Its shares trade on NASDAQ under the ticker PAX.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2023 | $374.2M | $71.9M | $0.47 | $142.3M |
| 2023 | $327.6M | $118.4M | $0.80 | $150.9M |
| 2022 | $258.9M | $93M | $0.63 | $75.6M |
| 2021 | $235.5M | $122.5M | $0.90 | $106M |
| 2020 | $115M | $62.2M | $0.53 | $52.5M |
| 2020 | $123.2M | $58.5M | $0.53 | $44.3M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where PAX ranks in Finance
Dividends
It paid out $103.3M in cash dividends, 111% of its net income.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2022 | n/a | $103.3M | 111% |
| 2021 | n/a | $119.8M | 98% |
| 2020 | n/a | $64.5M | 104% |
| 2020 | n/a | $46.9M | 80% |
| 2018 | n/a | $38M | 87% |
Latest SEC filings
What Patria Investments Ltd has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 6, 2026Passive stake changed SCHEDULE 13G/A
- November 3, 2026
- October 26, 2026
- October 7, 2026
- October 6, 2026
- September 29, 2026
- September 4, 2026Passive stake changed SCHEDULE 13G/A
- August 12, 2026Passive stake changed SCHEDULE 13G/A
- July 31, 2026
- July 28, 2026
Insider trades
What the people running Patria Investments Ltd did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider bought or sold shares on the open market in the last 90 days. The 4 reported changes were pay in shares, option exercises, shares withheld for tax or gifts.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| August 17, 2026 | Teixeira Jose Augusto Goncalves de AraujoOfficer | Received as pay | 100,231 | - |
| August 17, 2026 | Teixeira Jose Augusto Goncalves de AraujoOfficer | Received as pay | 18,357 | - |
| August 17, 2026 | Teixeira Jose Augusto Goncalves de AraujoOfficer | Received as pay | 10,951 | - |
| August 17, 2026 | Teixeira Jose Augusto Goncalves de AraujoOfficer | Received as pay | 6,614 | - |
| August 6, 2026 | D'Ippolito Marco NicolaCEO of Global Private Markets | Sold | 7,004 | $79.1K |
| August 3, 2026 | Teixeira Jose Augusto Goncalves de AraujoOfficer | Received as pay | 113 | - |
| August 3, 2026 | D'Ippolito Marco NicolaCEO of Global Private Markets | Received as pay | 7,004 | - |
| June 5, 2026 | Neto Olimpio MatarazzoDirector | Boughtindirect | 50,000 | $573K |
Who owns PAX
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Patria Holdings Limited13D, may seek influence with 3 related filers | 56% | February 26, 2026 |
| Fmr LLC13G, passive with 1 related filers | 10% | November 5, 2025 |
| Endure Capital Management, LLC13G, passive with 3 related filers | 9.9% | November 6, 2026 |
| Pertento Partners LLP13G, passive with 3 related filers | 8% | May 15, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 149 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Capital Research Global Investors | 7,791,608 | -731,247 |
| Fmr LLC | 6,832,652 | +180,886 |
| Endure Capital Management, LLC | 6,373,646 | +319,001 |
| BlackRock, Inc. | 5,854,346 | -4,286 |
| Pertento Partners LLP | 5,344,176 | +137,929 |
| Inherent Management Corp. | 290,831 | new |
| Zeno Equity Partners LLP | 1,701,343 | +351,764 |
| Mizuho Markets Americas LLC | 1,500,000 | 0 |
| State Street Corp | 1,392,588 | +78,121 |
| Fourth Sail Capital LP | 1,373,995 | new |
| UBS Group AG | 1,211,218 | +293,611 |
| Mhr Fund Management LLC | 1,000,000 | +100,000 |
| Adage Capital Partners GP, L.L.C. | 967,400 | -32,600 |
| Geode Capital Management, LLC | 961,761 | +86,822 |
| Goldman Sachs Group Inc | 688,183 | +185,390 |
| Northern Trust Corp | 522,913 | -18,852 |
| Bank of America Corp | 518,365 | +271,813 |
| Vanguard Portfolio Management LLC | 451,447 | +59,725 |
| Morgan Stanley | 433,024 | +106,752 |
| SEB Asset Management AB | 404,628 | -29,124 |
Insiders
3 insiders reported holding 888,262 shares in total, about $8.4M at the last price.
| Holder | Shares |
|---|---|
| D'Ippolito Marco NicolaCEO of Global Private Markets | 443,178 |
| Neto Olimpio MatarazzoDirector | 235,000235,000 held indirectly |
| Teixeira Jose Augusto Goncalves de AraujoOfficer | 210,084 |
Questions about PAX
What does Patria Investments Ltd do?
Patria Investments Ltd is a company in the Finance sector, listed on NASDAQ as PAX. Its shares trade on NASDAQ under the ticker PAX.
What is Patria Investments Ltd's net worth?
Patria Investments Ltd has a market value (market cap) of $1.5B at the latest share price, and shareholders' equity of $481.1M on its balance sheet at December 31, 2024. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Patria Investments Ltd profitable?
Yes. In fiscal 2023 it reported net income of $71.9M on revenue of $374.2M, a net margin of 19.2%.
How much revenue does Patria Investments Ltd make?
In fiscal 2023 Patria Investments Ltd reported revenue of $374.2M. That is 14.2% more than a year earlier.
When did Patria Investments Ltd last report?
Its most recent periodic report is the annual report (foreign issuer) (20-F) filed on April 30, 2026. It covers the period to December 31, 2025. Its newest filing of any kind is the passive stake changed from November 6, 2026.
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Where the numbers come from
Financial figures are the values Patria Investments Ltd tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.