Institutional Manager · CIK 0001652174
Turim 21 Investimentos Ltda.
Rio De Janeiro, D5 · File #028-18160
Latest AUM
$259.0M
Positions
115
Top-10 Concentration
89.3%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| REDUCE | SPDR BLOOMBERG 1-3 MONTH T-B | 78468R663 | -346,257 | -$31.6M | -$137,011 |
| EXITED | SPDR GOLD SHARES | 92206C664 | -24,721 | -$8.8M | $0 |
| REDUCE | ALPHABET INC-CL C | GOOG | -12,852 | -$4.0M | +$1.3M |
| REDUCE | ISHARES TIPS BOND ETF | 464287176 | -33,221 | -$3.7M | -$52,124 |
| ADD | ISHARES MSCI EAFE ETF | 464287465 | +21,783 | +$2.1M | +$1.1M |
| ADD | ISHARES CORE MSCI EMERGING | 46434G103 | +24,726 | +$1.7M | +$251,672 |
| REDUCE | MICROSOFT CORP | MSFT | -2,607 | -$1.3M | -$310,309 |
| REDUCE | ISHARES 7-10 YEAR TREASURY B | 464287440 | -9,185 | -$883,231 | -$3,403 |
| REDUCE | ISHARES 3-7 YEAR TREASURY BO | 464288661 | -7,048 | -$841,177 | +$1,713 |
| REDUCE | AMAZON.COM, INC | AMZN | -3,599 | -$830,721 | +$229,215 |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 2025115 pos · $259.0M
- 13F HOLDINGS REPORTQ/E Sep 2025117 pos · $297.2M
- 13F HOLDINGS REPORTQ/E Jun 202583 pos · $511.1M
- 13F HOLDINGS REPORTQ/E Mar 202581 pos · $372.3M
- 13F HOLDINGS REPORTQ/E Dec 202484 pos · $383.9M
- 13F HOLDINGS REPORTQ/E Sep 202479 pos · $363.4M
- 13F HOLDINGS REPORTQ/E Jun 202474 pos · $392.0M
- 13F HOLDINGS REPORTQ/E Mar 202474 pos · $393.2M
- 13F HOLDINGS REPORTQ/E Dec 202375 pos · $227.1M
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | SPDR S&P 500 ETF TRUST | 922908769 | 130,926 | $89.3M | 34.66% |
| 2 | ISHARES MSCI EAFE ETF | 464287465 | 442,127 | $42.5M | 16.48% |
| 3 | VALE SA-SP ADR | VALE | 3,131,646 | $40.8M | 15.84% |
| 4 | INVESCO QQQ TRUST SERIES 1 | QQQ | 36,618 | $22.5M | 8.73% |
| 5 | ISHARES CORE MSCI EMERGING | 46434G103 | 218,320 | $14.7M | 5.70% |
| 6 | ERICSSON (LM) TEL-SP ADR | 294821608 | 670,000 | $6.5M | 2.51% |
| 7 | ISHARES MSCI EMR MRK EX CHNA | 46434G764 | 54,372 | $4.0M | 1.53% |
| 8 | AMAZON.COM, INC | AMZN | 16,771 | $3.9M | 1.50% |
| 9 | MICROSOFT CORP | MSFT | 6,432 | $3.1M | 1.21% |
| 10 | BERKSHIRE HATHAWAY INC-CL A | BRK-A | 4 | $3.0M | 1.17% |
| 11 | SPDR BLOOMBERG 1-3 MONTH T-B | 78468R663 | 24,066 | $2.2M | 0.85% |
| 12 | INVESCO S&P 500 EQUAL WEIGHT | 78468R556 | 10,646 | $2.0M | 0.79% |
| 13 | ALPHABET INC-CL C | GOOG | 6,228 | $2.0M | 0.76% |
| 14 | APPLE INC | AAPL | 7,100 | $1.9M | 0.75% |
| 15 | MICROSTRATEGY INC-CL A | 723787107 | 12,000 | $1.8M | 0.71% |
| 16 | WALT DISNEY | 254687106 | 15,179 | $1.7M | 0.67% |
| 17 | ISHARES BITCOIN TRUST | IBIT | 28,898 | $1.4M | 0.56% |
| 18 | PAMPA ENERGIA SA-SPON ADR | SW | 14,705 | $1.3M | 0.51% |
| 19 | GRUPO FINANCIERO GALICIA-ADR | GGAL | 23,840 | $1.3M | 0.50% |
| 20 | KRANESHARES CSI CHINA INTERN | 500767306 | 35,359 | $1.2M | 0.47% |