Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (9 quarters reported)
$166M in Q4 2023 → $124M now. Hover for any quarter.
As reported for the quarter ended December 31, 2025. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Mastercard Inc | 19.5% | Trimmed 1.0% | 42,560 | $24.3M |
| Visa Inc | 19.5% | Trimmed 1.0% | 69,268 | $24.3M |
| Shift4 Payments Inc | 19.5% | Trimmed 3.0% | 385,000 | $24.2M |
| Stoneco Ltd | 7.2% | Trimmed 35% | 609,000 | $9.01M |
| Pagseguro Digital Ltd | 5.6% | Trimmed 44% | 728,000 | $7.02M |
| Meta Platforms | 5.0% | New | 9,400 | $6.2M |
| Charter Communications Inc | 3.9% | Trimmed 69% | 23,500 | $4.91M |
| Capital One Financial Corp | 3.9% | Trimmed 39% | 20,000 | $4.85M |
| Grupo Cibest Sa | 3.6% | Trimmed 38% | 70,000 | $4.45M |
| Mercadolibre Inc | 3.0% | New | 1,870 | $3.77M |
| CC Cogent Communications Hldgs | 2.9% | Trimmed 62% | 170,000 | $3.67M |
| IE Invesco Exchange Traded Fd T | 1.8% | New | 12,000 | $2.3M |
| Amazon Com Inc | 1.1% | New | 6,000 | $1.38M |
| VS Vanguard Star Fds | 0.8% | New | 14,000 | $1.06M |
| Microsoft Corp | 0.8% | New | 2,000 | $967K |
| VT Vanguard Tax-managed Fds | 0.7% | New | 14,000 | $875K |
| Alphabet Inc | 0.5% | New | 2,000 | $626K |
| VI Vanguard Index Fds | 0.4% | New | 1,500 | $503K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Charter Communications Inc | Trimmed | −51,500 | −$10.8M | 3.9% |
| Cable One Inc | Exited | −59,500 | −$10.5M | — |
| Meta Platforms | New | +9,400 | +$6.2M | 5.0% |
| CC Cogent Communications Hldgs | Trimmed | −279,633 | −$6.03M | 2.9% |
| Pagseguro Digital Ltd | Trimmed | −567,000 | −$5.47M | 5.6% |
| Stoneco Ltd | Trimmed | −322,000 | −$4.76M | 7.2% |
| Mercadolibre Inc | New | +1,870 | +$3.77M | 3.0% |
| Capital One Financial Corp | Trimmed | −13,000 | −$3.15M | 3.9% |
| Grupo Cibest Sa | Trimmed | −42,000 | −$2.67M | 3.6% |
| IE Invesco Exchange Traded Fd T | New | +12,000 | +$2.3M | 1.8% |
Showing the 10 largest of 19 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Capital One Financial Corp | Trimmed | −72,000 | −$15.3M | 4.1% |
| Grupo Cibest Sa | Trimmed | −266,000 | −$13.8M | 3.4% |
| AG Alibaba Group Hldg Ltd | Exited | −84,000 | −$9.53M | — |
| Shift4 Payments Inc | Trimmed | −100,000 | −$7.74M | 18.0% |
| Mastercard Inc | Trimmed | −10,000 | −$5.69M | 14.3% |
| Charter Communications Inc | Added | +18,000 | +$4.95M | 12.1% |
| Stoneco Ltd | Trimmed | −256,000 | −$4.84M | 10.3% |
| CC Cogent Communications Hldgs | Trimmed | −54,367 | −$2.08M | 10.1% |
| Visa Inc | Trimmed | −5,000 | −$1.71M | 14.0% |
| Cable One Inc | Trimmed | −7,500 | −$1.33M | 6.2% |
Showing the 10 largest of 11 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Charter Communications Inc | New | +57,000 | +$23.3M | 9.6% |
| Pinterest Inc | Exited | −746,000 | −$23.1M | — |
| Capital One Financial Corp | New | +105,000 | +$22.3M | 9.2% |
| Discover Financial Services | Exited | −126,000 | −$21.5M | — |
| Grupo Cibest Sa | New | +378,000 | +$17.5M | 7.2% |
| BS Bancolombia S A | Exited | −371,000 | −$14.9M | — |
| Meta Platforms Inc | Exited | −16,400 | −$9.45M | — |
| Cable One Inc | New | +67,000 | +$9.1M | 3.7% |
| Pdd Holdings Inc | Exited | −49,000 | −$5.8M | — |
| Visa Inc | Trimmed | −8,000 | −$2.84M | 10.9% |
Showing the 10 largest of 16 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Visa Inc | Trimmed | −44,000 | −$15.4M | 12.1% |
| CC Cogent Communications Hldgs | Added | +196,000 | +$12M | 11.4% |
| Mastercard Inc | Trimmed | −19,000 | −$10.4M | 13.2% |
| AG Alibaba Group Hldg Ltd | New | +75,000 | +$9.92M | 4.1% |
| Pdd Holdings Inc | New | +49,000 | +$5.8M | 2.4% |
| Discover Financial Services | Added | +32,000 | +$5.46M | 9.0% |
| Shift4 Payments Inc | Added | +39,000 | +$3.19M | 17.9% |
| Stoneco Ltd | Added | +250,000 | +$2.62M | 5.7% |
| BS Bancolombia S A | Trimmed | −59,000 | −$2.37M | 6.2% |
| Pagseguro Digital Ltd | Trimmed | −300,000 | −$2.29M | 4.4% |
Showing the 10 largest of 12 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Discover Financial Services | Trimmed | −67,000 | −$11.6M | 7.1% |
| Pinterest Inc | Added | +309,000 | +$8.96M | 9.2% |
| Shift4 Payments Inc | Trimmed | −74,000 | −$7.68M | 21.9% |
| CC Cogent Communications Hldgs | Added | +39,000 | +$3.01M | 8.5% |
| Pagseguro Digital Ltd | Added | +415,000 | +$2.6M | 4.6% |
| Stoneco Ltd | Trimmed | −250,000 | −$1.99M | 3.6% |
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| CC Cogent Communications Hldgs | New | +213,000 | +$16.2M | 7.2% |
| Meta Platforms Inc | Trimmed | −22,900 | −$13.1M | 4.1% |
| Alphabet Inc | Exited | −28,000 | −$5.1M | — |
| Pinterest Inc | Added | +140,000 | +$4.53M | 6.1% |
| Pagseguro Digital Ltd | Trimmed | −355,000 | −$3.06M | 4.9% |
| Shift4 Payments Inc | Trimmed | −26,000 | −$2.3M | 22.2% |
| Discover Financial Services | Added | +14,000 | +$1.96M | 10.1% |
| Stoneco Ltd | Added | +102,000 | +$1.15M | 6.6% |
| Mastercard Inc | Trimmed | −2,000 | −$988K | 17.0% |
| BS Bancolombia S A | Added | +24,000 | +$753K | 6.0% |
quarter ended June 30, 2024 · filed August 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Pinterest Inc | New | +280,000 | +$12.3M | 5.8% |
| Meta Platforms Inc | Trimmed | −13,500 | −$6.81M | 9.2% |
| Discover Financial Services | Added | +40,000 | +$5.23M | 9.0% |
| Shift4 Payments Inc | Added | +69,000 | +$5.06M | 20.1% |
| Alphabet Inc | Exited | −28,000 | −$4.26M | — |
| Stoneco Ltd | Added | +146,000 | +$1.75M | 6.7% |
| Visa Inc | Trimmed | −5,000 | −$1.31M | 15.6% |
| Alphabet Inc | Trimmed | −6,000 | −$1.09M | 2.4% |
| BS Bancolombia S A | Added | +10,000 | +$327K | 6.2% |
| Pagseguro Digital Ltd | Added | +10,000 | +$117K | 8.8% |
quarter ended March 31, 2024 · filed May 15, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Discover Financial Services | New | +107,000 | +$14M | 6.6% |
| Shift4 Payments Inc | Added | +147,000 | +$9.71M | 16.1% |
| Alphabet Inc | Trimmed | −50,000 | −$7.55M | 2.4% |
| Visa Inc | Added | +19,000 | +$5.3M | 17.4% |
| Mastercard Inc | Added | +10,000 | +$4.82M | 18.0% |
| Pagseguro Digital Ltd | Added | +225,000 | +$3.21M | 10.8% |
| BS Bancolombia S A | Added | +66,000 | +$2.26M | 6.4% |
| Stoneco Ltd | Added | +121,517 | +$2.02M | 8.2% |
| Meta Platforms Inc | Trimmed | −1,500 | −$728K | 12.0% |
| Alphabet Inc | Trimmed | −2,000 | −$305K | 2.0% |
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