TB Capital Gestao de Recursos Ltda.
CIK 2077092 · View on SEC EDGAR ↗
- Portfolio value
- $182.7M
- Positions
- 19
- As of
- June 30, 2026
Portfolio value QoQ: +11.8% 13F does not disclose cash
- Top 10 holdings weight
- 77.05%
- Top 25 holdings weight
- 100.00%
- Positions above 1%
- 18
- Effective number of positions
- 13.9
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 14.06% Est. buys $61,466,421 · sells $24,339,949
Median holding: 4.0 quarters Tracked Q2 2025–Q2 2026 · 73.1% still held
- New positions
- 4
- Increased
- 7
- Decreased
- 8
- Closed
- 1
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Performance vs S&P 500
Annualized: -9.3% · S&P 500: +21.7%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Priceable coverage: 97.9% · Options excluded: 0.0%
Sector breakdown
Full portfolio 19 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| BKNG Booking Holdings Inc. - Common Stock | $22,728,630 | 12.44% | 127,517 | $5,015,814 | Up ×2 | ||
| ABNB Airbnb, Inc. - Class A Common Stock | $18,542,183 | 10.15% | 129,575 | $-5,774,546 | Down ×2 | ||
| NU Nu Holdings Ltd. Class A Ordinary Shares | $16,791,436 | 9.19% | 1,256,844 | $4,182,523 | Up ×4 | ||
| DLO DLocal Limited - Class A Common Shares | $14,452,829 | 7.91% | 1,112,612 | $4,013,847 | Up ×1 | ||
| SAP SAP SE ADS | $14,153,617 | 7.75% | 91,841 | $853,853 | Up ×1 | ||
| CPNG Coupang, Inc. Class A Common Stock | $12,457,851 | 6.82% | 717,205 | $3,063,050 | Up ×1 | ||
| APO Apollo Global Management, Inc. (New) Common Stock | $11,588,701 | 6.34% | 97,952 | $-1,490,224 | Down ×1 | ||
| SPGI S&P Global Inc. Common Stock | $10,599,756 | 5.80% | 26,027 | Up ×1 | |||
| V Visa Inc. | $10,530,461 | 5.76% | 30,693 | $4,328,194 | Up ×4 | ||
| MSFT Microsoft Corporation - Common Stock | $8,924,877 | 4.88% | 23,926 | $-1,442,104 | Down ×1 | ||
| MA Mastercard Incorporated Common Stock | $8,900,174 | 4.87% | 17,329 | $2,729,873 | Up ×4 | ||
| META Meta Platforms, Inc. - Class A Common Stock | $7,368,396 | 4.03% | 13,081 | $-429,736 | Down ×1 | ||
| MELI MercadoLibre, Inc. - Common Stock | $5,703,230 | 3.12% | 3,360 | Up ×1 | |||
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $5,319,175 | 2.91% | 11,138 | $-1,044,086 | Down ×4 | ||
| ADBE Adobe Inc. - Common Stock | $4,770,610 | 2.61% | 23,269 | $-986,740 | Down ×2 | ||
| AMZN Amazon.com, Inc. - Common Stock | $4,690,531 | 2.57% | 19,680 | $400,586 | Down ×2 | ||
| GOOG Alphabet Inc. - Class C Capital Stock | $3,106,477 | 1.70% | 8,792 | $33,633 | Down ×2 | ||
| SPOT Spotify Technology S.A. Ordinary Shares | $2,067,462 | 1.13% | 4,503 | Up ×1 | |||
| GOOGL Alphabet Inc. - Class A Common Stock | $6,433 | 0.00% | 18 | Up ×1 | |||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
Biggest new bets
New positions opened this quarter, largest first.
Top movers (QoQ)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| STNE | Dec. 31, 2025 | 485,757 | $9,185,665 | -37.0% |
| XP | Dec. 31, 2025 | 478,740 | $8,995,525 | 0.6% |
| NVDA | June 30, 2026 | 37,505 | $6,540,872 | 8.4% |
| JD | Dec. 31, 2025 | 59,235 | $2,072,040 | 2.1% |
| DASH | Dec. 31, 2025 | 4,873 | $1,325,407 | -3.1% |
| HIMS | Sept. 30, 2025 | 23,668 | $1,179,850 | -42.9% |