Q3 2025 · 13F-HR
TB Capital Gestao de Recursos Ltda.holdings as filed
Filed 2025-11-14 · accession 0001213900-25-110461
$130.1M
Reported value
17
Positions
2025-09-30
Period end
The Brief · TB Capital Gestao de Recursos Ltda. · Q3 2025
AI · grounded in 13F
TB Capital Gestao de Recursos Ltda. established a new position in TSM worth $23.1M. The fund also initiated new stakes in ABNB for $16.3M and BKNG for $13.1M. Other new additions include APO at $12.7M, DLO at $10.4M, and CPNG at $9.4M. The fund ended the period with 17 positions and total AUM of $130.1M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $23.1M | 17.7% | 82,585 | Common | SOLE |
| 009066101 | ABNB | AIRBNB INC | $16.3M | 12.5% | 134,226 | Common | SOLE |
| 09857L108 | BKNG | BOOKING HOLDINGS INC | $13.1M | 10.0% | 2,417 | Common | SOLE |
| 03769M106 | APO | APOLLO GLOBAL MGMT INC | $12.7M | 9.76% | 95,253 | Common | SOLE |
| G29018101 | DLO | DLOCAL LTD | $10.4M | 7.97% | 725,713 | Common | SOLE |
| 22266T109 | CPNG | COUPANG INC | $9.4M | 7.19% | 290,390 | Common | SOLE |
| G85158106 | STNE | STONECO LTD | $9.2M | 7.06% | 485,757 | Common | SOLE |
| G98239109 | XP | XP INC | $9.0M | 6.91% | 478,740 | Common | SOLE |
| G6683N103 | NU | NU HLDGS LTD | $5.6M | 4.31% | 350,034 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD INCORPORATED | $4.7M | 3.59% | 8,203 | Common | SOLE |
| 92826C839 | V | VISA INC | $3.7M | 2.85% | 10,874 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $2.6M | 2.03% | 3,599 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INC | $2.4M | 1.84% | 9,829 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $2.4M | 1.83% | 4,602 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $2.3M | 1.76% | 10,421 | Common | SOLE |
| 47215P106 | JD | JD.COM INC | $2.1M | 1.59% | 59,235 | Common | SOLE |
| 25809K105 | DASH | DOORDASH INC | $1.3M | 1.02% | 4,873 | 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.