Atmos Capital Gestao DE Recursos Ltda. In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Atmos Capital Gestao DE Recursos Ltda. reported 9 stock positions worth $645.3 million . Its top holding was Nu Holdings Ltd./Cayman Isl-A (NU) at 26.5% of the portfolio, followed by XP Class A (XP, 25.4% ) and Stoneco Class A (STNE, 22.6% ). Compared with Q1 2025, it opened 1 new position, sold out of 3, added to 2 and reduced 3. The biggest buy was Nu Holdings Ltd./Cayman Isl-A (NU, shares +277% ) and the biggest sale an exit from Meta Platforms Class A (META).
Location Leblon - Rio de Janeiro, D5
CIK 0001832439
Portfolio Value $645.3M (Q2 2025) Holdings 9 stocks · $645.3M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2025 NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 12,469,985 $171.1M Add +277.4% XP XP Inc. Class A 8,103,248 $163.7M Reduce -9.4% STNE Stoneco Ltd. Class A 9,096,070 $145.9M Reduce -24.1% MELI MercadoLibre Inc. 49,076 $128.3M Add +9.2% TSM Taiwan Semiconductor-SP ADR 134,754 $30.5M New QQQ Invesco QQQ Trust Series 1 3,127 $1.7M No change VTEX Vtex Class A 226,055 $1.5M Reduce -7.1% KWEB Kranesh Csi China Internet 40,500 $1.4M No change CXSE Wisdomtree China Ex-St Ow 35,930 $1.2M No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $7K (not counted above) Security Class Shares / Principal Value Change MLKWF Waldencast Acq Class A -CW27 *W EXP 07/27/202 82,102 $7K No change
Total filed on the 13F, all lines: $645.3M.
Portfolio Sells Q1 2025 → Q2 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▲ META Meta Platforms Inc. Class A Sold out 0.00% −9.22 GOOGL Alphabet Inc. Class A Sold out 0.00% −8.56 STNE Stoneco Ltd. Class A Reduce -24.1% 22.61% −3.77 AMZN Amazon.com Inc. Sold out 0.00% −3.35 XP XP Inc. Class A Reduce -9.4% 25.37% −0.47 VTEX Vtex Class A Reduce -7.1% 0.23% −0.03
Portfolio Buys Q1 2025 → Q2 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▼ NU Nu Holdings Ltd./Cayman Isl-A Add +277.4% 26.51% +19.40 TSM Taiwan Semiconductor-SP ADR New 4.73% +4.73 MELI MercadoLibre Inc. Add +9.2% 19.88% +1.45
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 16 $796.4M NU, MELI, DLO, INTR, XP Q1 2026 15 $579.6M NU, MELI, AMZN, XP, MSFT Q4 2025 Amended 15 $660.0M NU, MELI, XP, DLO, GOOGL Q3 2025 16 $707.5M NU, STNE, XP, MELI, TSM Q2 2025 9 $645.3M NU, XP, STNE, MELI, TSM Q1 2025 11 $476.0M STNE, XP, MELI, META, GOOGL Q4 2024 11 $461.1M STNE, XP, MELI, GOOGL, META Q3 2024 11 $700.3M NU, XP, STNE, MELI, AMZN Q2 2024 13 $713.5M NU, MELI, XP, AMZN, META Q1 2024 13 $819.8M NU, MELI, AMZN, META, STNE