Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (27 quarters reported)
$119M in Q1 2019 → $46.7M now. Hover for any quarter.
As reported for the quarter ended September 30, 2025. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Mercadolibre Inc | 48.2% | Added 4.5% | 9,636 | $22.5M |
| NH Nu Hldgs Ltd | 45.4% | Trimmed 4.4% | 1,324,373 | $21.2M |
| Meta Platforms Inc | 1.9% | Unchanged | 1,230 | $903K |
| Nvidia Corporation | 1.5% | Added 0.5% | 3,740 | $698K |
| Coupang Inc | 1.2% | New | 17,110 | $551K |
| Microsoft Corp | 1.1% | New | 956 | $495K |
| Amazon Com Inc | 0.7% | New | 1,519 | $334K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended September 30, 2025 · filed October 22, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Xp Inc | Exited | −222,166 | −$4.49M | — |
| Ambipar Emergency Response | Exited | −571,051 | −$2.87M | — |
| Stoneco Ltd | Exited | −163,857 | −$2.63M | — |
| PB Petroleo Brasileiro Sa Petro | Exited | −108,056 | −$1.25M | — |
| NH Nu Hldgs Ltd | Trimmed | −61,168 | −$979K | 45.4% |
| Mercadolibre Inc | Added | +417 | +$975K | 48.2% |
| Coupang Inc | New | +17,110 | +$551K | 1.2% |
| Microsoft Corp | New | +956 | +$495K | 1.1% |
| Amazon Com Inc | New | +1,519 | +$334K | 0.7% |
| Nvidia Corporation | Added | +20 | +$3.73K | 1.5% |
quarter ended June 30, 2025 · filed July 25, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| NH Nu Hldgs Ltd | Added | +615,812 | +$8.45M | 34.0% |
| Xp Inc | Added | +148,466 | +$3M | 8.0% |
| IU Itau Unibanco Hldg S A | Exited | −400,590 | −$2.2M | — |
| Stoneco Ltd | Added | +69,357 | +$1.11M | 4.7% |
| PB Petroleo Brasileiro Sa Petro | Trimmed | −43,373 | −$501K | 2.2% |
| Mercadolibre Inc | Added | +185 | +$484K | 43.2% |
| Blackstone Inc | Exited | −1,815 | −$254K | — |
| Meta Platforms Inc | Trimmed | −20 | −$14.8K | 1.6% |
| Nvidia Corporation | Trimmed | −60 | −$9.48K | 1.1% |
quarter ended March 31, 2025 · filed April 17, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Mercadolibre Inc | Trimmed | −17,266 | −$33.7M | 49.1% |
| NH Nu Hldgs Ltd | Trimmed | −1,686,983 | −$17.3M | 22.0% |
| IU Itau Unibanco Hldg S A | Trimmed | −2,139,610 | −$11.8M | 6.1% |
| PB Petroleo Brasileiro Sa Petro | Trimmed | −801,571 | −$10.5M | 5.5% |
| SS Suzano S A | Exited | −428,400 | −$4.34M | — |
| Xp Inc | New | +73,700 | +$1.01M | 2.8% |
| Stoneco Ltd | New | +94,500 | +$990K | 2.8% |
| Vtex | Exited | −37,637 | −$222K | — |
| Blackstone Inc | Trimmed | −950 | −$133K | 0.7% |
| Nvidia Corporation | Trimmed | −60 | −$6.5K | 1.1% |
Showing the 10 largest of 12 changes.
quarter ended December 31, 2024 · filed January 16, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Stoneco Ltd | Exited | −3,047,576 | −$34.3M | — |
| Mercadolibre Inc | Trimmed | −9,965 | −$16.9M | 43.3% |
| NH Nu Hldgs Ltd | Trimmed | −1,248,964 | −$12.9M | 24.6% |
| PB Petroleo Brasileiro Sa Petro | Added | +565,100 | +$6.69M | 10.9% |
| IU Itau Unibanco Hldg S A | Added | +1,249,200 | +$6.2M | 12.2% |
| SS Suzano S A | Added | +244,000 | +$2.47M | 4.2% |
| Uber Technologies Inc | Exited | −5,373 | −$404K | — |
| Blackstone Inc | Trimmed | −120 | −$20.7K | 0.5% |
| Nvidia Corporation | Trimmed | −150 | −$20.1K | 0.5% |
| Meta Platforms Inc | Trimmed | −30 | −$17.6K | 0.7% |
Showing the 10 largest of 11 changes.
quarter ended September 30, 2024 · filed October 09, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Mercadolibre Inc | Trimmed | −24,452 | −$50.2M | 41.2% |
| Stoneco Ltd | Added | +703,249 | +$7.92M | 19.0% |
| NH Nu Hldgs Ltd | Trimmed | −540,819 | −$7.38M | 28.0% |
| SS Suzano S A | New | +184,400 | +$1.84M | 1.0% |
| I Ishares Inc | Exited | −33,100 | −$905K | — |
| Blackstone Inc | New | +2,885 | +$442K | 0.2% |
| Nvidia Corporation | Trimmed | −1,850 | −$225K | 0.3% |
| Ambipar Emergency Response | Trimmed | −14,854 | −$87.2K | 1.9% |
| IU Itau Unibanco Hldg S A | Trimmed | −13,100 | −$87.1K | 4.8% |
| Uber Technologies Inc | Trimmed | −196 | −$14.7K | 0.2% |
Showing the 10 largest of 12 changes.
quarter ended June 30, 2024 · filed August 02, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Xp Inc | Exited | −2,126,159 | −$54.6M | — |
| NH Nu Hldgs Ltd | Trimmed | −1,290,218 | −$16.6M | 27.3% |
| Stoneco Ltd | Added | +856,552 | +$10.3M | 14.0% |
| IU Itau Unibanco Hldg S A | New | +1,304,100 | +$7.62M | 3.8% |
| PB Petroleo Brasileiro Sa Petro | New | +387,900 | +$5.29M | 2.6% |
| I Ishares Inc | New | +33,100 | +$905K | 0.5% |
| Nvidia Corporation | Added | +5,020 | +$620K | 0.4% |
| Mercadolibre Inc | Added | +195 | +$320K | 49.7% |
| Vtex | New | +40,833 | +$296K | 0.1% |
| Uber Technologies Inc | Trimmed | −2,587 | −$188K | 0.2% |
quarter ended March 31, 2024 · filed May 08, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Mercadolibre Inc | Trimmed | −21,942 | −$33.2M | 37.8% |
| Xp Inc | Trimmed | −1,143,850 | −$29.4M | 22.5% |
| Stoneco Ltd | New | +1,487,775 | +$24.7M | 10.2% |
| NH Nu Hldgs Ltd | Trimmed | −1,994,992 | −$23.8M | 27.3% |
| Nvidia Corporation | New | +820 | +$741K | 0.3% |
| Visa Inc | Exited | −2,519 | −$656K | — |
| Meta Platforms Inc | New | +1,300 | +$631K | 0.3% |
| Uber Technologies Inc | New | +8,156 | +$628K | 0.3% |
| N Now Inc | Exited | −657 | −$464K | — |
| CI&T Inc | Exited | −53,704 | −$282K | — |
Showing the 10 largest of 12 changes.
quarter ended December 31, 2023 · filed February 08, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Xp Inc | New | +3,270,009 | +$85.2M | 30.0% |
| NH Nu Hldgs Ltd | New | +7,531,705 | +$62.7M | 22.1% |
| Mercadolibre Inc | Trimmed | −2,284 | −$3.59M | 45.6% |
| Shopify Inc | New | +3,061 | +$238K | 0.1% |
| Ambipar Emergency Response | Added | +17,931 | +$141K | 1.7% |
| Visa Inc | Trimmed | −133 | −$34.6K | 0.2% |
| N Now Inc | Trimmed | −33 | −$23.3K | 0.2% |
| CI&T Inc | Trimmed | −2,835 | −$14.9K | 0.1% |
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