Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (3 quarters reported)
$205M in Q4 2025 → $148M now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Mercadolibre Inc | 35.9% | Added 3.1% | 31,251 | $53M |
| Xp Inc | 20.2% | Trimmed 31% | 1,837,985 | $29.9M |
| Latam Airlines Group Sa | 12.8% | Added 1479% | 326,007 | $19M |
| PB Petroleo Brasileiro S A | 11.5% | Added 37% | 1,164,207 | $17M |
| Inter & Co Inc | 9.0% | New | 2,443,213 | $13.3M |
| I Ishares Inc Call | 4.0% | New | 171,500 | $5.92M |
| AE Axia Energia Sa | 2.1% | Added 264% | 289,639 | $3.06M |
| SS Suzano S A | 1.9% | Trimmed 0.0% | 356,146 | $2.76M |
| Gerdau Sa | 1.5% | Unchanged | 550,000 | $2.22M |
| VS Vale S A | 0.5% | New | 51,789 | $779K |
| IU Itau Unibanco Hldg S A | 0.4% | Added 216% | 76,663 | $626K |
| CE Cia Energetica De Minas Gera | 0.2% | New | 128,695 | $270K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 2 quarters.
quarter ended June 30, 2026 · filed August 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| NH Nu Hldgs Ltd | Exited | −4,008,517 | −$57.6M | — |
| Stoneco Ltd | Exited | −2,043,105 | −$28.8M | — |
| Latam Airlines Group Sa | Added | +305,355 | +$17.8M | 12.8% |
| Xp Inc | Trimmed | −840,965 | −$13.7M | 20.2% |
| Inter & Co Inc | New | +2,443,213 | +$13.3M | 9.0% |
| I Ishares Inc | New | +171,500 | +$5.92M | 4.0% |
| PB Petroleo Brasileiro S A | Exited | −266,925 | −$5.54M | — |
| PB Petroleo Brasileiro S A | Added | +316,070 | +$4.63M | 11.5% |
| CE Centrais Elet Bras Sa | Exited | −190,920 | −$2.39M | — |
| AE Axia Energia Sa | Added | +210,012 | +$2.22M | 2.1% |
Showing the 10 largest of 17 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| NH Nu Hldgs Ltd | Added | +3,465,984 | +$49.8M | 25.9% |
| Xp Inc | Added | +2,089,498 | +$39.8M | 22.9% |
| I Ishares Inc | Exited | −247,500 | −$17.2M | — |
| IT Ishares Tr | Exited | −279,100 | −$15.3M | — |
| IT Ishares Tr | Exited | −58,400 | −$14.4M | — |
| Stoneco Ltd | Added | +883,340 | +$12.5M | 13.0% |
| I Ishares Inc | Exited | −178,888 | −$12.4M | — |
| Mercadolibre Inc | Trimmed | −4,891 | −$8.46M | 23.6% |
| PB Petroleo Brasileiro S A | Trimmed | −390,647 | −$8.11M | 2.5% |
| IT Ishares Tr | Exited | −125,285 | −$6.85M | — |
Showing the 10 largest of 19 changes.
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