TB Capital Gestao de Recursos Ltda. reported 19 positions worth $182.70M for the quarter ended Jun 30, 2026, up 16.1% on the prior quarter. It opened 4 new positions, added to 7, trimmed 8 and exited 1. Its largest holding is Booking Holdings Inc. at 12.4% of the portfolio.
Reported 13F market value at each quarter end. A change mixes trading with price moves in the positions held.
Dollar value of shares bought and sold each quarter, at that quarter’s price. It counts trading only, not price changes.
How many positions were opened, added to, trimmed or closed each quarter.
Share of reported value in each sector at every quarter end.
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| SPGI S&P Global Inc. | +26.0K | – | $10.60M | 5.8% |
| MELI Mercadolibre Inc | +3,360 | – | $5.70M | 3.12% |
| NU Nu Holdings Ltd. | +379.4K | +43.2% | $5.07M | 9.19% |
| DLO dLocal Ltd | +307.8K | +38.2% | $4.00M | 7.91% |
| BKNG Booking Holdings Inc. | +22.3K | +21.2% | $3.98M | 12.44% |
| CPNG Coupang, Inc. | +219.6K | +44.1% | $3.81M | 6.82% |
| V Visa Inc. | +10.2K | +49.6% | $3.49M | 5.76% |
| MA Mastercard Inc | +4,980 | +40.3% | $2.56M | 4.87% |
| SAP Sap Se | +14.2K | +18.2% | $2.18M | 7.75% |
| SPOT Spotify Technology S.A. | +4,503 | – | $2.07M | 1.13% |
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| ABNB Airbnb, Inc. | -63.0K | -32.7% | $9.01M | 10.15% |
| NVDA Nvidia Corp | -37.5K | -100.0% | $6.54M | Exited |
| TSM Taiwan Semiconductor Manufacturing Co Ltd | -7,691 | -40.8% | $3.67M | 2.91% |
| APO Apollo Global Management, Inc. | -19.4K | -16.6% | $2.30M | 6.34% |
| MSFT Microsoft Corp | -4,080 | -14.6% | $1.52M | 4.88% |
| GOOG Alphabet Inc. | -1,920 | -17.9% | $678.39K | 1.7% |
| META Meta Platforms, Inc. | -549 | -4.0% | $309.25K | 4.03% |
| AMZN Amazon Com Inc | -918 | -4.5% | $218.80K | 2.57% |
| ADBE Adobe Inc. | -416 | -1.8% | $85.29K | 2.61% |
| Holding | Shares Sold | Trade Value | Prior Weight |
|---|---|---|---|
| NVDA Nvidia Corp | -37.5K | $6.54M | 4.16% |
| # | Activity | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | BKNG Booking Holdings Inc. | Technology | 127.5K | $22.73M | 12.44% | +22.3K | +21.2% | Added | 0.02% |
| 2 | ABNB Airbnb, Inc. | Technology | 129.6K | $18.54M | 10.15% | -63.0K | -32.7% | Reduced | 0.02% |
| 3 | NU Nu Holdings Ltd. | Financial Services | 1.26M | $16.79M | 9.19% | +379.4K | +43.2% | Added | 0.03% |
| 4 | DLO dLocal Ltd | Technology | 1.11M | $14.45M | 7.91% | +307.8K | +38.2% | Added | 0.38% |
| 5 | SAP Sap Se | Technology | 91.8K | $14.15M | 7.75% | +14.2K | +18.2% | Added | 0.01% |
| 6 | CPNG Coupang, Inc. | Consumer Discretionary | 717.2K | $12.46M | 6.82% | +219.6K | +44.1% | Added | 0.04% |
| 7 | APO Apollo Global Management, Inc. | Financial Services | 98.0K | $11.59M | 6.34% | -19.4K | -16.6% | Reduced | 0.02% |
| 8 | SPGI S&P Global Inc. | Financial Services | 26.0K | $10.60M | 5.8% | +26.0K | – | New | 0.01% |
| 9 | V Visa Inc. | Financial Services | 30.7K | $10.53M | 5.76% | +10.2K | +49.6% | Added | 0% |
| 10 | MSFT Microsoft Corp | Technology | 23.9K | $8.92M | 4.88% | -4,080 | -14.6% | Reduced | 0% |
| 11 | MA Mastercard Inc | Financial Services | 17.3K | $8.90M | 4.87% | +4,980 | +40.3% | Added | 0% |
| 12 | META Meta Platforms, Inc. | Technology | 13.1K | $7.37M | 4.03% | -549 | -4.0% | Reduced | 0% |
| 13 | MELI Mercadolibre Inc | Technology | 3,360 | $5.70M | 3.12% | +3,360 | – | New | 0.01% |
| 14 | TSM Taiwan Semiconductor Manufacturing Co Ltd | Technology | 11.1K | $5.32M | 2.91% | -7,691 | -40.8% | Reduced | 0% |
| 15 | ADBE Adobe Inc. | Technology | 23.3K | $4.77M | 2.61% | -416 | -1.8% | Reduced | 0.01% |
Tip. Select a row to see that position’s full history at TB Capital Gestao de Recursos Ltda.
As of its Q2 2026 13F filing, TB Capital Gestao de Recursos Ltda.’s five largest positions were Booking Holdings Inc. (BKNG) at 12.4%, Airbnb, Inc. (ABNB) at 10.1%, Nu Holdings Ltd. (NU) at 9.2%, dLocal Ltd (DLO) at 7.9%, Sap Se (SAP) at 7.7% of the reported portfolio.
TB Capital Gestao de Recursos Ltda. reported a 13F portfolio worth $182.70M across 19 positions for Q2 2026. That is up 16.1% from the previous quarter.
Its largest purchases by value were S&P Global Inc. ($10.60M), Mercadolibre Inc ($5.70M), Nu Holdings Ltd. ($5.07M). It opened 4 new positions.
Its largest sales by value were Airbnb, Inc. ($9.01M), Nvidia Corp ($6.54M), Taiwan Semiconductor Manufacturing Co Ltd ($3.67M). It exited 1 positions entirely.
From the Form 13F-HR reports TB Capital Gestao de Recursos Ltda. files with the SEC each quarter, within 45 days of quarter end. A 13F lists long positions in US-listed equities and options; it excludes short positions, cash, bonds and most non-US holdings.
13F data reflects long positions in US-listed equities and options as reported to the SEC up to 45 days after quarter end. It excludes short positions, cash, bonds and most non-US securities, so it is not a complete picture of a manager’s assets.