TB Capital Gestao de Recursos Ltda.
CIK 0002077092
Annualised vol
13.328043%
Beta
0.579695
HHI
718.078954
Top-10 weight
77.048802%
VaR 95%
1.345904%
VaR 99%
2.408015%
Max drawdown
24.845998%
Matched value
81.555123%
Returns of reported holdings
Loading returns…
Position changes vs prior quarter
What the latest 13F shows bought and sold against the quarter before, by share count.
| Ticker | Change | Shares now | Shares before | Share change % | Value now ($) |
|---|---|---|---|---|---|
| BKNG | ADDED | 127,517 | 4,207 | 2931.07% | 22,728,630 |
| ABNB | REDUCED | 129,575 | 192,562 | -32.71% | 18,542,183 |
| DLO | ADDED | 1,112,612 | 804,856 | 38.24% | 14,452,829 |
| SAP | ADDED | 91,841 | 77,681 | 18.23% | 14,153,617 |
| CPNG | ADDED | 717,205 | 497,606 | 44.13% | 12,457,851 |
| SPGI | NEW | 26,027 | - | - | 10,599,756 |
| V | ADDED | 30,693 | 20,521 | 49.57% | 10,530,461 |
| MSFT | REDUCED | 23,926 | 28,006 | -14.57% | 8,924,877 |
| MA | ADDED | 17,329 | 12,349 | 40.33% | 8,900,174 |
| META | REDUCED | 13,081 | 13,630 | -4.03% | 7,368,396 |
| MELI | REDUCED | 3,360 | 3,495 | -3.86% | 5,703,230 |
| ADBE | REDUCED | 23,269 | 23,685 | -1.76% | 4,770,610 |
| AMZN | REDUCED | 19,680 | 20,598 | -4.46% | 4,690,531 |
| GOOGL | REDUCED | 8,810 | 10,712 | -17.76% | 3,112,910 |
| SPOT | NEW | 4,503 | - | - | 2,067,462 |
| NVDA | CLOSED OUT | 0 | 37,505 | -100.0% | 0 |
Holdings (latest quarter)
| Ticker | Change | Issuer | Class | CUSIP | Value ($) | Weight % | Shares |
|---|---|---|---|---|---|---|---|
| BKNG | ADDED | BOOKING HOLDINGS INC | COM | 09857L108 | 22,728,630 | 12.44 | 127517.0 |
| ABNB | REDUCED | AIRBNB INC | COM CL A | 009066101 | 18,542,183 | 10.15 | 129575.0 |
| - | NU HLDGS LTD | ORD SHS CL A | G6683N103 | 16,791,436 | 9.19 | 1256844.0 | |
| DLO | ADDED | DLOCAL LTD | CLASS A COM | G29018101 | 14,452,829 | 7.91 | 1112612.0 |
| SAP | ADDED | SAP SE | SPON ADR | 803054204 | 14,153,617 | 7.75 | 91841.0 |
| CPNG | ADDED | COUPANG INC | CL A | 22266T109 | 12,457,851 | 6.82 | 717205.0 |
| - | APOLLO GLOBAL MGMT INC | COM | 03769M106 | 11,588,701 | 6.34 | 97952.0 | |
| SPGI | NEW | S&P GLOBAL INC | COM | 78409V104 | 10,599,756 | 5.8 | 26027.0 |
| V | ADDED | VISA INC | COM CL A | 92826C839 | 10,530,461 | 5.76 | 30693.0 |
| MSFT | REDUCED | MICROSOFT CORP | COM | 594918104 | 8,924,877 | 4.88 | 23926.0 |
| MA | ADDED | MASTERCARD INCORPORATED | CL A | 57636Q104 | 8,900,174 | 4.87 | 17329.0 |
| META | REDUCED | META PLATFORMS INC | CL A | 30303M102 | 7,368,396 | 4.03 | 13081.0 |
| MELI | REDUCED | MERCADOLIBRE INC | COM | 58733R102 | 5,703,230 | 3.12 | 3360.0 |
| - | TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 | 5,319,175 | 2.91 | 11138.0 | |
| ADBE | REDUCED | ADOBE INC | COM | 00724F101 | 4,770,610 | 2.61 | 23269.0 |
| AMZN | REDUCED | AMAZON COM INC | COM | 023135106 | 4,690,531 | 2.57 | 19680.0 |
| GOOGL | REDUCED | ALPHABET INC | CAP STK CL C | 02079K107 | 3,106,477 | 1.7 | 8792.0 |
| SPOT | NEW | SPOTIFY TECHNOLOGY S A | SHS | L8681T102 | 2,067,462 | 1.13 | 4503.0 |
| GOOGL | REDUCED | ALPHABET INC | CAP STK CL A | 02079K305 | 6,433 | 0.0 | 18.0 |
Quarterly portfolios
| Period | Filed | Value ($) | Positions | Vol % | Beta | Max DD % |
|---|---|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | 182,702,829 | 19 | 13.328043 | 0.579695 | 24.845998 |
| 2026-03-31 | 2026-05-15 | 163,455,808 | 17 | 14.355619 | 0.616137 | 27.596679 |
| 2025-12-31 | 2026-02-17 | 167,740,747 | 15 | 14.039547 | 0.57194 | 28.588315 |
| 2025-09-30 | 2025-11-14 | 130,090,456 | 17 | 11.7908 | 0.444661 | 23.449861 |