Dynamo Internacional Gestao DE Recursos Ltda.

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed May 30, 2025), Dynamo Internacional Gestao DE Recursos Ltda. reported 6 stock positions worth $291.2 million. Its top holding was MercadoLibre (MELI) at 44.8% of the portfolio, followed by Nu Holdings Ltd./Cayman Isl-A (NU, 33.5%) and Vale SA-SP ADR (VALE, 12.4%). Compared with Q3 2024, it added to 3 and reduced 3. The biggest buy was MercadoLibre (MELI, shares +74%) and the biggest sale Nu Holdings Ltd./Cayman Isl-A (NU, shares −48%).

Most Recent 13F
Q2 2026
Location
RIO DE JANEIRO, D5
CIK
0001546790
Portfolio Value
$291.2M (Q4 2024)
SEC Filing
0000947871-25-000577 ↗ filed May 30, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $589.1M Q1 2024 Q2 2024: $562.5M Q2 2024 Q3 2024: $416.7M Q3 2024 Q4 2024: $291.2M $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 · $291.2M
MELI MercadoLibre Inc. 44.78% 76,684 $130.4M Add +74.0%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 33.48% 9,409,225 $97.5M Reduce -47.8%
VALE Vale SA-SP ADR 12.44% 4,084,812 $36.2M Add +47.5%
VTEX Vtex Class A 7.39% 3,655,982 $21.5M Reduce -35.3%
SUZ Suzano SA - Spon ADR 1.40% 402,119 $4.1M Reduce -10.6%
RIO Rio Tinto PLC-Spon ADR 0.51% 25,247 $1.5M Add +57.4%

Options reported separately and not counted above: RIO puts ($5.2M), MELI calls ($3.9M), NU calls ($29K).

Portfolio Sells Q3 2024 → Q4 2024
NU Nu Holdings Ltd./Cayman Isl-A Reduce -47.8% 33.48% −25.62
VTEX Vtex Class A Reduce -35.3% 7.39% −2.69
SUZ Suzano SA - Spon ADR Reduce -10.6% 1.40% +0.32

Portfolio Buys Q3 2024 → Q4 2024
MELI MercadoLibre Inc. Add +74.0% 44.78% +23.08
VALE Vale SA-SP ADR Add +47.5% 12.44% +4.68
RIO Rio Tinto PLC-Spon ADR Add +57.4% 0.51% +0.24

Options Activity Q3 2024 → Q4 2024
NU Nu Holdings Ltd./Cayman Isl-A put Sold out 1,500,000 $930Kbefore exit

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