TB Capital Gestao de Recursos Ltda.

Q3 2025 13F-HR Holdings

Location
Rio De Janeiro, D5
Holdings as of
9/30/2025
Date filed
11/14/2025
Form type
13F-HR
Num holdings
17
Total value ($000)
$130,090
Net value change ($000)
+14,811 (12.8%)
New positions
0
Sold out positions
1
Turnover %
0.9%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/14/2025 Next filing: 2/17/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
ABNB 5,014 44.4%
NU 4,786 585.1%
APO 3,440 37.2%
TSM 3,099 15.5%
DLO 3,092 42.5%
CPNG 2,236 31.4%
BKNG 1,871 16.7%
META 948 55.9%
V 881 31.1%
AMZN 848 58.9%
Top Reduces (Value $000, Stocks/ETFs)
XP -9,482 -51.3%
STNE -1,783 -16.3%
HIMS -1,180 -100.0%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
Filter:
Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type