Atmos Capital Gestao DE Recursos Ltda.

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 16, 2025), Atmos Capital Gestao DE Recursos Ltda. reported 11 stock positions worth $476.0 million. Its top holding was Stoneco Class A (STNE) at 26.4% of the portfolio, followed by XP Class A (XP, 25.8%) and MercadoLibre (MELI, 18.4%). Compared with Q4 2024, it added to 2 and reduced 6. The biggest buy was XP Class A (XP, shares +20%) and the biggest sale Amazon.com (AMZN, shares −59%).

Most Recent 13F
Q2 2026
Location
Leblon - Rio de Janeiro, D5
CIK
0001832439
Portfolio Value
$476.0M (Q1 2025)
SEC Filing
0001213900-25-044633 ↗ filed May 16, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $819.8M Q1 2024 Q2 2024: $713.5M Q2 2024 Q3 2024: $700.3M Q3 2024 Q4 2024: $461.1M Q4 2024 Q1 2025: $476.0M $476.0M Q1 2025 Q2 2025: $645.3M Q2 2025 Q3 2025: $707.5M Q3 2025 Q4 2025: $660.0M Q4 2025 Q1 2026: $579.6M Q1 2026 Q2 2026: $796.4M Q2 2026

Holdings 11 stocks · $476.0M
STNE Stoneco Ltd. Class A 26.38% 11,982,873 $125.6M Add +3.1%
XP XP Inc. Class A 25.83% 8,941,951 $123.0M Add +20.3%
MELI MercadoLibre Inc. 18.43% 44,963 $87.7M Reduce -7.4%
META Meta Platforms Inc. Class A 9.22% 76,112 $43.9M Reduce -9.0%
GOOGL Alphabet Inc. Class A 8.56% 263,446 $40.7M Reduce -1.6%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 7.11% 3,304,622 $33.8M Reduce -28.3%
AMZN Amazon.com Inc. 3.35% 83,811 $15.9M Reduce -59.0%
QQQ Invesco QQQ Trust Series 1 0.31% 3,127 $1.5M No change
KWEB Kranesh Csi China Internet 0.30% 40,500 $1.4M No change
VTEX Vtex Class A 0.26% 243,315 $1.2M Reduce -6.5%
CXSE Wisdomtree China Ex-St Ow 0.26% 35,930 $1.2M No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $11K (not counted above)
SecurityClassShares / PrincipalValueChange
MLKWF Waldencast Acq Class A -CW27 *W EXP 07/27/202 82,102$11KNo change

Total filed on the 13F, all lines: $476.0M.

Portfolio Sells Q4 2024 → Q1 2025
AMZN Amazon.com Inc. Reduce -59.0% 3.35% −6.39
NU Nu Holdings Ltd./Cayman Isl-A Reduce -28.3% 7.11% −3.24
GOOGL Alphabet Inc. Class A Reduce -1.6% 8.56% −2.44
META Meta Platforms Inc. Class A Reduce -9.0% 9.22% −1.41
VTEX Vtex Class A Reduce -6.5% 0.26% −0.07
MELI MercadoLibre Inc. Reduce -7.4% 18.43% +0.52

Portfolio Buys Q4 2024 → Q1 2025
XP XP Inc. Class A Add +20.3% 25.83% +6.72
STNE Stoneco Ltd. Class A Add +3.1% 26.38% +6.29

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 16$796.4MNU, MELI, DLO, INTR, XP
Q1 2026 15$579.6MNU, MELI, AMZN, XP, MSFT
Q4 2025Amended 15$660.0MNU, MELI, XP, DLO, GOOGL
Q3 2025 16$707.5MNU, STNE, XP, MELI, TSM
Q2 2025 9$645.3MNU, XP, STNE, MELI, TSM
Q1 2025 11$476.0MSTNE, XP, MELI, META, GOOGL
Q4 2024 11$461.1MSTNE, XP, MELI, GOOGL, META
Q3 2024 11$700.3MNU, XP, STNE, MELI, AMZN
Q2 2024 13$713.5MNU, MELI, XP, AMZN, META
Q1 2024 13$819.8MNU, MELI, AMZN, META, STNE