Institutional Manager · CIK 0002077092
TB Capital Gestao de Recursos Ltda.
RIO DE JANEIRO, D5 · File #028-25728
Latest AUM
$167.7M
Positions
15
Top-10 Concentration
81.9%
Filings
3
Portfolio Value Over Time
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 |
|---|---|---|---|---|---|
| ADD | AIRBNB INC | ABNB | +89,834 | +$12.2M | +$1.9M |
| NEW | ADOBE INC | ADBE | +29,779 | +$10.4M | $0 |
| EXITED | STONECO LTD | G85158106 | -485,757 | -$9.2M | $0 |
| EXITED | XP INC | G98239109 | -478,740 | -$9.0M | $0 |
| ADD | MICROSOFT CORP | MSFT | +14,569 | +$7.0M | -$157,987 |
| REDUCE | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | -21,334 | -$6.5M | +$2.0M |
| ADD | COUPANG INC | CPNG | +271,783 | +$6.4M | -$2.5M |
| NEW | MERCADOLIBRE INC | MELI | +2,957 | +$6.0M | $0 |
| ADD | META PLATFORMS INC | META | +6,606 | +$4.4M | -$267,370 |
| ADD | AMAZON COM INC | AMZN | +13,944 | +$3.2M | +$117,236 |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202515 pos · $167.7M
- 13F HOLDINGS REPORTQ/E Sep 202517 pos · $130.1M
- 13F HOLDINGS REPORTQ/E Jun 202518 pos · $115.3M
Top 15 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | AIRBNB INC | ABNB | 224,060 | $30.4M | 18.13% |
| 2 | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | 61,251 | $18.6M | 11.10% |
| 3 | APOLLO GLOBAL MGMT INC | 03769M106 | 101,757 | $14.7M | 8.78% |
| 4 | COUPANG INC | CPNG | 562,173 | $13.3M | 7.91% |
| 5 | DLOCAL LTD | DLO | 923,768 | $13.1M | 7.79% |
| 6 | BOOKING HOLDINGS INC | BKNG | 2,346 | $12.6M | 7.49% |
| 7 | ADOBE INC | ADBE | 29,779 | $10.4M | 6.21% |
| 8 | MICROSOFT CORP | MSFT | 19,171 | $9.3M | 5.53% |
| 9 | NU HLDGS LTD | NU | 493,152 | $8.3M | 4.92% |
| 10 | META PLATFORMS INC | META | 10,205 | $6.7M | 4.02% |
| 11 | VISA INC | V | 18,761 | $6.6M | 3.92% |
| 12 | MASTERCARD INCORPORATED | MA | 11,180 | $6.4M | 3.80% |
| 13 | MERCADOLIBRE INC | MELI | 2,957 | $6.0M | 3.55% |
| 14 | ALPHABET INC | GOOG | 18,714 | $5.9M | 3.50% |
| 15 | AMAZON COM INC | AMZN | 24,365 | $5.6M | 3.35% |