Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (35 quarters reported)
$119M in Q4 2014 → $815M 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 |
|---|---|---|---|---|
| NH Nu Holdings Ltd. (nu) | 40.2% | Added 10.0% | 24,533,236 | $328M |
| M( Mercadolibre, Inc. (meli) | 35.8% | Trimmed 15% | 171,881 | $292M |
| IQ Invesco Qqq Tr Put | 8.7% | New | 96,700 | $71.2M |
| I& Inter & Co, Inc. (intr) | 6.7% | Added 59% | 10,069,301 | $54.7M |
| S( Stoneco Ltd. (stne) | 5.0% | Trimmed 44% | 3,747,170 | $40.6M |
| M( Mercadolibre, Inc. (meli) Call | 3.5% | New | 16,800 | $28.5M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Xp Inc | Exited | −3,909,501 | −$74.4M | — |
| IQ Invesco Qqq Tr | New | +96,700 | +$71.2M | 8.7% |
| M( Mercadolibre, Inc. (meli) | Trimmed | −31,049 | −$52.7M | 35.8% |
| S( Stoneco Ltd. (stne) | Trimmed | −2,915,083 | −$31.6M | 5.0% |
| NH Nu Holdings Ltd. (nu) | Added | +2,220,735 | +$29.7M | 40.2% |
| M( Mercadolibre, Inc. (meli) | New | +16,800 | +$28.5M | 3.5% |
| I& Inter & Co, Inc. (intr) | Added | +3,748,349 | +$20.4M | 6.7% |
| VS Vale S.a. | Exited | −240,000 | −$3.82M | — |
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Mercadolibre, Inc. | Added | +113,274 | +$196M | 39.2% |
| Nu Holdings Ltd. | Added | +13,167,715 | +$189M | 35.9% |
| Stoneco Ltd | Added | +5,418,053 | +$76.5M | 10.5% |
| Nu Holdings Ltd. | Exited | −3,061,800 | −$51.3M | — |
| Xp Inc | Trimmed | −884,234 | −$16.8M | 8.3% |
| VS Vale S.a. | New | +240,000 | +$3.82M | 0.4% |
| Inter & Co, Inc | Added | +67,500 | +$537K | 5.6% |
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Mercadolibre, Inc. | New | +89,656 | +$181M | 33.8% |
| Nu Holdings Ltd. | Added | +2,571,800 | +$43.1M | 9.6% |
| Nu Holdings Ltd. | Trimmed | −2,409,587 | −$40.3M | 28.6% |
| Xp Inc | Trimmed | −2,073,653 | −$33.9M | 14.7% |
| Stoneco Ltd | Trimmed | −1,784,458 | −$26.4M | 3.4% |
| Xp Inc | Exited | −771,200 | −$14.5M | — |
| Inter & Co, Inc | Added | +356,671 | +$3.02M | 9.9% |
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Stoneco Ltd | Trimmed | −4,006,650 | −$75.8M | 12.8% |
| Inter & Co, Inc | Added | +5,490,776 | +$50.7M | 12.1% |
| Nu Holdings Ltd. | Added | +2,385,373 | +$38.2M | 41.3% |
| Xp Inc | Trimmed | −837,045 | −$15.7M | 28.8% |
| Stoneco Ltd | Exited | −928,800 | −$14.9M | — |
| Nu Holdings Ltd. | New | +490,000 | +$7.84M | 1.8% |
| Xp Inc | Added | +60,800 | +$1.14M | 3.2% |
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| NH Nu Hldgs Ltd | New | +9,169,000 | +$126M | 29.5% |
| Stoneco Ltd | Trimmed | −6,503,002 | −$104M | 26.5% |
| Xp Inc | Trimmed | −1,547,709 | −$31.3M | 36.5% |
| Stoneco Ltd | New | +928,800 | +$14.9M | 3.5% |
| Xp Inc | New | +710,400 | +$14.4M | 3.4% |
| Mercadolibre Inc | Exited | −1,643 | −$3.21M | — |
| Inter & Co Inc | New | +406,005 | +$3.02M | 0.7% |
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Xp Inc | Added | +1,634,246 | +$22.5M | 46.7% |
| Mercadolibre Inc | Trimmed | −4,458 | −$8.7M | 1.2% |
| Stoneco Ltd | Trimmed | −412,873 | −$4.33M | 52.1% |
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Exited | −141,200 | −$81M | — |
| Xp Inc | Trimmed | −4,464,940 | −$52.9M | 42.6% |
| Stoneco Ltd. | Added | +4,446,709 | +$35.4M | 52.5% |
| Mercadolibre Inc | Trimmed | −20,117 | −$34.2M | 4.9% |
| Nu Holdings Ltd. | Exited | −2,150,000 | −$29.3M | — |
| Stoneco Ltd. | Exited | −1,014,600 | −$11.4M | — |
| Stoneco Ltd. | Exited | −1,014,600 | −$11.4M | — |
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | New | +141,200 | +$81M | 15.9% |
| Mercadolibre Inc | Trimmed | −27,686 | −$56.8M | 10.5% |
| Nu Holdings Ltd. | New | +2,150,000 | +$29.3M | 5.7% |
| Stoneco Ltd. | Trimmed | −2,060,500 | −$23.2M | 2.2% |
| Stoneco Ltd. | Trimmed | −2,060,500 | −$23.2M | 2.2% |
| Stoneco Ltd. | Added | +988,823 | +$11.1M | 21.0% |
| Xp Inc | Trimmed | −220,529 | −$3.96M | 42.4% |
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