Q4 2025 · 13F-HR
TB Capital Gestao de Recursos Ltda.holdings as filed
Filed 2026-02-17 · accession 0001213900-26-017452
$167.7M
Reported value
15
Positions
2025-12-31
Period end
The Brief · TB Capital Gestao de Recursos Ltda. · Q4 2025
AI · grounded in 13F
TB Capital Gestao de Recursos Ltda. exited its position in STNE, reducing exposure by $9.19M. The fund also closed its positions in XP for $9M and JD for $2.07M. On the buy side, the fund established a new position in ADBE worth $10.42M and added a new position in MELI for $5.96M. Additionally, the fund increased its share count in MSFT by 316.58% and META by 183.55%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 009066101 | ABNB | AIRBNB INC | $30.4M | 18.1% | 224,060 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $18.6M | 11.1% | 61,251 | Common | SOLE |
| 03769M106 | APO | APOLLO GLOBAL MGMT INC | $14.7M | 8.78% | 101,757 | Common | SOLE |
| 22266T109 | CPNG | COUPANG INC | $13.3M | 7.91% | 562,173 | Common | SOLE |
| G29018101 | DLO | DLOCAL LTD | $13.1M | 7.79% | 923,768 | Common | SOLE |
| 09857L108 | BKNG | BOOKING HOLDINGS INC | $12.6M | 7.49% | 2,346 | Common | SOLE |
| 00724F101 | ADBE | ADOBE INC | $10.4M | 6.21% | 29,779 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $9.3M | 5.53% | 19,171 | Common | SOLE |
| G6683N103 | NU | NU HLDGS LTD | $8.3M | 4.92% | 493,152 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $6.7M | 4.02% | 10,205 | Common | SOLE |
| 92826C839 | V | VISA INC | $6.6M | 3.92% | 18,761 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD INCORPORATED | $6.4M | 3.80% | 11,180 | Common | SOLE |
| 58733RAG7 | MELI | MERCADOLIBRE INC | $6.0M | 3.55% | 2,957 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INC | $5.9M | 3.50% | 18,714 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $5.6M | 3.35% | 24,365 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.