Pat down the meat to make sure that it’s dry from any excess moisture. Score the fat cap 1/8″ in a criss-cross pattern and generously season all sides with your seasoning.
Set your grill for indirect heat, or preheat your smoker. You want to maintain 225-250˚F. Cook the picanha for roughly 60-90 minutes until the internal temperature is 115°F (medium rare prep). Remove the meat from the grill, and turn the heat up to 450-500°F.
Sear the meat, flipping frequently to control the momentum of the temperature. The fat cap may flare up. Once you have the perfect crust and your internal temperature is ready (130-135°F medium rare) remove the picanha and allow it to rest for at least 10 minutes, tented under foil.
Slice against the grain and enjoy!
