Dynamo Internacional Gestao DE Recursos Ltda.

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed May 30, 2025), Dynamo Internacional Gestao DE Recursos Ltda. reported 6 stock positions worth $562.5 million. Its top holding was Nu Holdings Ltd./Cayman Isl-A (NU) at 59.3% of the portfolio, followed by MercadoLibre (MELI, 26.3%) and Vtex Class A (VTEX, 7.9%). Compared with Q1 2024, it reduced 4. The biggest sale was Vale SA-SP ADR (VALE, shares −22%).

Most Recent 13F
Q2 2026
Location
RIO DE JANEIRO, D5
CIK
0001546790
Portfolio Value
$562.5M (Q2 2024)
SEC Filing
0000947871-25-000575 ↗ filed May 30, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $589.1M Q1 2024 Q2 2024: $562.5M $562.5M Q2 2024 Q3 2024: $416.7M Q3 2024 Q4 2024: $291.2M Q4 2024 Q1 2025: $295.3M Q1 2025 Q2 2025: $264.1M Q2 2025 Q3 2025: $158.1M Q3 2025 Q4 2025: $124.3M Q4 2025 Q1 2026: $266.3M Q1 2026 Q2 2026: $236.1M Q2 2026

Holdings 6 stocks · $562.5M
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 59.32% 25,884,247 $333.6M Reduce -8.2%
MELI MercadoLibre Inc. 26.30% 90,023 $147.9M Reduce -10.9%
VTEX Vtex Class A 7.91% 6,124,720 $44.5M Reduce -1.7%
VALE Vale SA-SP ADR 5.08% 2,557,469 $28.6M Reduce -22.3%
SUZ Suzano SA - Spon ADR 0.82% 450,000 $4.6M No change
RIO Rio Tinto PLC-Spon ADR 0.58% 49,169 $3.2M No change

Options reported separately and not counted above: MELI calls ($7.5M), RIO puts ($3.1M), QQQ puts ($1.7M).

Portfolio Sells Q1 2024 → Q2 2024
VALE Vale SA-SP ADR Reduce -22.3% 5.08% −1.73
VTEX Vtex Class A Reduce -1.7% 7.91% −0.73
MELI MercadoLibre Inc. Reduce -10.9% 26.30% +0.36
NU Nu Holdings Ltd./Cayman Isl-A Reduce -8.2% 59.32% +2.21

Portfolio Buys Q1 2024 → Q2 2024
None this quarter.

Options Activity Q1 2024 → Q2 2024
QQQ Invesco QQQ Trust Series 1 put Reduce -66.5% 1,200,000 $1.7M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 4$236.1MMELI, NU, SUZ, GGB
Q1 2026 3$266.3MMELI, NU, SUZ
Q4 2025 4$124.3MMELI, NU, SUZ, VTEX
Q3 2025 5$158.1MMELI, NU, VTEX, VALE, SUZ
Q2 2025 5$264.1MMELI, NU, VALE, VTEX, SUZ
Q1 2025 6$295.3MMELI, NU, VALE, RIO, VTEX
Q4 2024Amended 6$291.2MMELI, NU, VALE, VTEX, SUZ
Q3 2024Amended 6$416.7MNU, MELI, VTEX, VALE, SUZ
Q2 2024Amended 6$562.5MNU, MELI, VTEX, VALE, SUZ
Q1 2024Amended 6$589.1MNU, MELI, VTEX, VALE, SUZ