Pangea Capital Gestao de Recursos Ltda.

Q4 2025 13F-HR Holdings

Location
Rio De Janeiro, D5
Holdings as of
12/31/2025
Date filed
8/17/2026
Form type
13F-HR
Num holdings
9
Total value ($000)
$123,608
Net value change ($000)
+8,040 (7.0%)
New positions
2
Sold out positions
1
Turnover %
3.3%
Sector allocation + QoQ delta (equities-only)
Prev filing: 7/21/2026 Next filing: 6/18/2026 SEC filing

Snapshot: Change Analysis

Compared to Q3 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)
BRK-B 4,510 5.5%
MELI 3,626 NEW
META 1,319 199.5%
AMZN 1,004 5.1%
RICK 141 NEW
BRK-B 8 0.1%
Top Reduces (Value $000, Stocks/ETFs)
EWZ -2,281 -53.7%
BC -310 -100.0%
LGIH -44 -17.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 69 (0.1% of total reported value)
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.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type