<SEC-DOCUMENT>0000950103-26-004135.txt : 20260318
<SEC-HEADER>0000950103-26-004135.hdr.sgml : 20260318
<ACCEPTANCE-DATETIME>20260318113121
ACCESSION NUMBER:		0000950103-26-004135
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20260318
FILED AS OF DATE:		20260318
DATE AS OF CHANGE:		20260318

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Teixeira Jose Augusto Goncalves de Araujo
		CENTRAL INDEX KEY:			0002117261
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39911
		FILM NUMBER:		26766971

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		C/O PATRIA INVESTMENTS LTD
		STREET 2:		60 NEXUS WAY, 4TH FLOOR
		CITY:			CAMANA BAY, GEORGE TOWN
		PROVINCE COUNTRY:   	E9
		ZIP:			KYL-9006

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Patria Investments Ltd
		CENTRAL INDEX KEY:			0001825570
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		ORGANIZATION NAME:           	02 Finance
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		60 NEXUS WAY, 4TH FLOOR
		STREET 2:		CAMANA BAY, PO BOX 757
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-9006
		BUSINESS PHONE:		1 345 640 4900

	MAIL ADDRESS:	
		STREET 1:		60 NEXUS WAY, 4TH FLOOR
		STREET 2:		CAMANA BAY, PO BOX 757
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-9006
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0607</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2026-03-18</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001825570</issuerCik>
        <issuerName>Patria Investments Ltd</issuerName>
        <issuerTradingSymbol>PAX</issuerTradingSymbol>
        <issuerForeignTradingSymbol></issuerForeignTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002117261</rptOwnerCik>
            <rptOwnerName>Teixeira Jose Augusto Goncalves de Araujo</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>true</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>60 NEXUS WAY, 4TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>CAMANA BAY</rptOwnerCity>
            <rptOwnerNonUSStateTerritory>GRAND CAYMAN</rptOwnerNonUSStateTerritory>
            <rptOwnerCountry>E9</rptOwnerCountry>
            <rptOwnerZipCode>KY1-9006</rptOwnerZipCode>
            <rptOwnerStateDescription>CAYMAN ISLANDS</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Head of Commercial for Brazil</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class A Common Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>73818</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class A Common Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10714</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Performance Share Unit</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>30864</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Performance Share Unit</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>76924</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Performance Share Unit</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>75886</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Performance Share Unit</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>79629</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Consists of 13,227 unvested restricted share units, 25,466 unvested restricted share units pursuant to the Issuer's matching share program, and 35,125 Class A Common Shares owned by the Reporting Person.</footnote>
        <footnote id="F2">Represents Class A Common Shares beneficially owned by Patria Holdings Limited which are directly held by Kalispell, an entity owned and controlled by the Reporting Person.</footnote>
        <footnote id="F3">The Performance Shares vest and are settled in Class A Common Shares in three equal annual installments beginning on the third anniversary of the grant date subject to (i) the achievement of specified Total Shareholder Return goals and (ii) continuous employment through the applicable vesting date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Jose Augusto Goncalves de Araujo Teixeira</signatureName>
        <signatureDate>2026-03-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
