VPR Management LLC

CIK 1894203 · View on SEC EDGAR ↗

Portfolio value QoQ: -0.5% 13F does not disclose cash

Top 10 holdings weight71.48%

Top 25 holdings weight90.96%

Positions above 1%20

Effective number of positions14.6

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 0.13% Est. buys $1,543,348 · sells $314,000

Median holding: 6.0 quarters Tracked Q1 2025–Q2 2026 · 86.8% still held

New positions1

Increased5

Decreased1

Closed4

Portfolio value $249.0M #5,799 of 9,337 by 13F value · top 62.1%

Positions 66

As of June 30, 2026 Data as of Q2 2026

Sector breakdown

Financials 5.4%

Materials 4.3%

Retail 4.0%

Energy 2.8%

Consumer Staples 1.6%

Utilities 0.9%

Communication Services 0.5%

Industrials 0.3%

Real Estate 0.3%

Technology 0.2%

Healthcare 0.0%

Other/Unmapped 79.6%

Full portfolio 66 positions

					Streak
VEA VANGUARD TAX-MANAGED FUNDS	$37,449,000	15.04%	525,600	$3,768,552
IAU iShares Gold Trust Shares	$29,858,919	11.99%	395,430	$-5,002,190
GUNR FlexShares Trust	$24,521,728	9.85%	497,600	$-2,925,888
EWC iShares, Inc.	$17,972,152	7.22%	311,800	$888,630
VTI VANGUARD INDEX FUNDS	$16,725,808	6.72%	45,200	$2,225,196
EWZ iShares, Inc.	$13,572,300	5.45%	393,400	$-1,530,326
VIG VANGUARD SPECIALIZED FUNDS	$12,453,311	5.00%	52,630	$1,134,703
IEMG iShares, Inc.	$10,504,112	4.22%	126,800	$1,659,812
EMLC VanEck ETF Trust	$8,082,072	3.25%	316,200	$142,290
ACWI iShares MSCI ACWI ETF	$6,859,589	2.75%	43,700	$812,820
MELI MercadoLibre, Inc. - Common Stock	$5,421,464	2.18%	3,194	$-101,026
GNR SPDR INDEX SHARES FUNDS	$5,219,891	2.10%	77,550	$-570,768
FCX Freeport-McMoRan, Inc. Common Stock	$5,094,090	2.05%	81,000	$332,910
EWU iShares Trust	$4,498,650	1.81%	97,500	$56,550
NU Nu Holdings Ltd. Class A Ordinary Shares	$3,815,616	1.53%	285,600	$-288,456
ITUB Itau Unibanco Banco Holding SA American Depositary Shares (Each repstg 500 Preferred shares)	$3,578,566	1.44%	438,013	$-91,983
EFV iShares Trust	$2,732,835	1.10%	35,700	$78,540
SE Sea Limited American Depositary Shares, each representing one Class A Ordinary Share	$2,711,989	1.09%	28,300	$368,466
KOF Coca Cola Femsa S.A.B. de C.V. American Depositary Shares, each representing 10 Units (each Unit consists of 3 Series B Shares and 5 Series L Shares)	$2,633,831	1.06%	24,789	$215,664
XOM Exxon Mobil Corporation Common Stock	$2,625,024	1.05%	19,200	$-632,448
PBRA CUSIP: 71654V101	$2,258,366	0.91%	154,260	$-634,009
VWO VANGUARD INTERNATIONAL EQUITY INDEX FUNDS	$2,250,313	0.90%	37,700	$212,628
PBR Petroleo Brasileiro S.A. Petrobras ADS	$2,146,791	0.86%	132,846	$-609,764
VALE VALE S.A. American Depositary Shares Each Representing one common share	$1,835,030	0.74%	122,010	$-106,149
BHP BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares)	$1,666,200	0.67%	20,000	$211,400
RIO Rio Tinto Plc Common Stock	$1,613,810	0.65%	17,000	$27,880
CVX Chevron Corporation Common Stock	$1,442,112	0.58%	8,700	$-357,918
ARCC Ares Capital Corporation - Closed End Fund	$1,172,097	0.47%	63,254	$43,721	Up ×4
AXIA AXIA Energia American Depositary Shares (Each representing one Common Share)	$1,057,098	0.42%	100,104	$-72,075
CPNG Coupang, Inc. Class A Common Stock	$1,042,200	0.42%	60,000	$-90,600
ABEV Ambev S.A. American Depositary Shares (Each representing 1 Common Share)	$904,097	0.36%	287,929	$-228,656	Down ×1
SBS Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp American Depositary Shares (Each repstg 250 Common Shares)	$854,775	0.34%	147,885	$-46,826	Up ×3
XLE SELECT SECTOR SPDR TRUST	$849,760	0.34%	16,000	$-130,400
GRAB Grab Holdings Limited - Class A Ordinary Shares	$829,400	0.33%	220,000		Up ×1
VDE VANGUARD WORLD FUND	$795,689	0.32%	5,300	$-121,423
VTV VANGUARD INDEX FUNDS	$730,066	0.29%	3,350	$72,796
DLO DLocal Limited - Class A Common Shares	$727,720	0.29%	56,000	$1,400
AGNC AGNC Investment Corp. - Common Stock	$654,000	0.26%	60,000	$52,200
BBD Banco Bradesco Sa American Depositary Shares	$652,013	0.26%	187,900	$-33,822
XP XP Inc. - Class A Common Stock	$602,726	0.24%	37,068	$-103,049
NVDA NVIDIA Corporation - Common Stock	$600,270	0.24%	3,000	$77,070
OBDC Blue Owl Capital Corporation Common Stock	$569,664	0.23%	52,407	$1,611	Up ×4
VIV Telefonica Brasil S.A. American Depositary Shares (Each representing One Common Share)	$541,995	0.22%	41,185	$-113,258
JBS JBS N.V. Class A Common Shares	$513,235	0.21%	43,311	$-264,631
PAGS PagSeguro Digital Ltd. Class A Common Shares	$506,800	0.20%	56,000	$-54,320
AMZN Amazon.com, Inc. - Common Stock	$476,680	0.19%	2,000	$60,140
BSBR Banco Santander Brasil SA American Depositary Shares, each representing one unit	$462,263	0.19%	88,050	$-59,874
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF	$414,692	0.17%	4,300	$10,793
SHEL Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares)	$387,700	0.16%	5,000	$-77,300
FSK FS KKR Capital Corp. Common Stock	$378,000	0.15%	36,000	$11,520
GOOG Alphabet Inc. - Class C Capital Stock	$353,330	0.14%	1,000	$66,470
GGB Gerdau S.A. Common Stock	$348,418	0.14%	86,242	$37,084
TIMB TIM S.A. American Depositary Shares (Each representing 5 Common Shares)	$337,579	0.14%	15,760	$-79,903
MAIN Main Street Capital Corporation Common Stock	$328,712	0.13%	6,336	$-3,559	Up ×4
CIG Comp En De Mn Cemig ADS American Depositary Shares	$309,849	0.12%	147,547	$-42,788
COP ConocoPhillips Common Stock	$280,692	0.11%	2,700	$-75,708
AXIAPRC CUSIP: 15236F100	$277,571	0.11%	26,310	$-9,734
SCHP SCHWAB STRATEGIC TRUST	$265,000	0.11%	10,000	$-1,100
SUZ Suzano S.A. American Depositary Shares (each representing One Ordinary Share)	$260,775	0.10%	33,605	$-75,611
STNE StoneCo Ltd. - Class A Common Share	$238,914	0.10%	22,040	$-72,291
UGP Ultrapar Participacoes S.A. (New) American Depositary Shares (Each representing one Common Share)	$234,434	0.09%	46,700	$-22,883
CSWC Capital Southwest Corporation - Common Stock	$202,045	0.08%	8,500	$14,025
OCSL Oaktree Specialty Lending Corporation - Closed End Fund	$191,780	0.08%	16,062	$13,692	Up ×4
CCAP Crescent Capital BDC, Inc. - Common Stock	$98,280	0.04%	9,000	$-11,070
BMY Bristol-Myers Squibb Company Common Stock	$5,762	0.00%	100	$-303
PFE Pfizer, Inc. Common Stock	$2,408	0.00%	100	$-400
No matches

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security	Value	% of portfolio	Streak
ARCC	$1,172,097	0.47%	up ×4
SBS	$854,775	0.34%	up ×3
OBDC	$569,664	0.23%	up ×4
MAIN	$328,712	0.13%	up ×4
OCSL	$191,780	0.08%	up ×4

Biggest new bets

New positions opened this quarter, largest first.

Security	Value	Shares	% of portfolio
GRAB	$829,400	220,000	0.33%

Top movers (QoQ)

Security	Action	Shares Δ	Value Δ
IAU	Price move only	+0	-$5.0M
VEA	Price move only	+0	+$3.8M
GUNR	Price move only	+0	-$2.9M
VTI	Price move only	+0	+$2.2M
IEMG	Price move only	+0	+$1.7M
EWZ	Price move only	+0	-$1.5M
VIG	Price move only	+0	+$1.1M
EWC	Price move only	+0	+$889K
ACWI	Price move only	+0	+$813K
PBRA	Price move only	+0	-$634K

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
VNQ	June 30, 2025	39,600	$3,585,384
CNQ	June 30, 2025	45,000	$1,384,615	54.3%
NLY	Dec. 31, 2025	30,000	$606,300	-17.3%
TTE	March 31, 2026	3,000	$195,830	-7.2%
EWM	June 30, 2025	7,500	$173,100
BRFS	Sept. 30, 2025	46,008	$167,929	No longer tracked
VNQI	June 30, 2025	3,600	$145,656
SID	March 31, 2026	55,740	$89,184	-6.5%
CSAN	March 31, 2026	10,920	$43,134	No longer tracked
BAK	March 31, 2026	9,510	$28,055	-57.7%