Milestones Administradora de Recursos Ltda. In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 25, 2024), Milestones Administradora de Recursos Ltda. reported 28 stock positions worth $250.9 million . Its top holding was Amazon.com (AMZN) at 21.2% of the portfolio, followed by Microsoft (MSFT, 20.8% ) and Nu Holdings Ltd./Cayman Isl-A (NU, 11.1% ). Compared with Q2 2024, it opened 4 new positions, sold out of 3, added to 10 and reduced 6. The biggest buy was a new position in General Electric (GE) and the biggest sale Amazon.com (AMZN, shares −17% ).
Location JARAGUA DO SUL, D5
CIK 0001912095
Portfolio Value $250.9M (Q3 2024) Holdings 28 stocks · $250.9M 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 Q2 2024 AMZN Amazon.com Inc. 285,455 $53.2M Reduce -17.4% MSFT Microsoft Corp. 121,097 $52.1M Add +23.8% NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 2,037,500 $27.8M Reduce -10.6% GOOGL Alphabet Inc. Class A 146,525 $24.3M Reduce -24.4% GE General Electric filed as GE AEROSPACE 61,860 $11.7M New TSM Taiwan Semiconductor-SP ADR 53,890 $9.4M Add +67.8% OXY Occidental Petroleum Corp. 175,320 $9.0M Add +151.3% MLKMF Waldencast PLC-A 2,200,000 $8.0M Add +10.0% ETN Eaton Corp. PLC 23,546 $7.8M Add +318.5% CVX Chevron Corp. 47,610 $7.0M Add +71.0% V Visa Inc. Class A 23,560 $6.5M Add +26.9% CP Canadian Pacific Kansas City 59,250 $5.1M New TMO Thermo Fisher Scientific Inc. 7,465 $4.6M Reduce -50.0% NVDA Nvidia Corp. 27,434 $3.3M Add +55.1% LIN Linde PLC 6,400 $3.1M No change STNE Stoneco Ltd. Class A 266,500 $3.0M No change AMAT Applied Materials Inc. 12,950 $2.6M New MCO Moody's Corp. 4,480 $2.1M Add +79.2% DELL Dell Technologies -C 14,400 $1.7M Add +620.0% MELI MercadoLibre Inc. 757 $1.6M Reduce -83.4% AAPL Apple Inc. 5,780 $1.3M No change SPGI S&P Global Inc. 2,330 $1.2M No change ICE Intercontinental Exchange Inc. 7,450 $1.2M No change MA Mastercard Inc. Class A 2,035 $1.0M New BRK.B Berkshire Hathaway Inc. Class B 2,080 $957K No change NKE Nike Inc. Class B 7,000 $619K No change DHR Danaher Corp. 1,500 $417K Reduce -50.0% BILI Bilibili Inc.-Sponsored ADR 14,100 $330K No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $53K (not counted above) Security Class Shares / Principal Value Change MLKWF Waldencast Acq Class A -CW27 *W EXP 07/27/202 342,999 $53K Add +2.9%
Total filed on the 13F, all lines: $251.0M.
Portfolio Sells Q2 2024 → Q3 2024 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 Q2 2024 % Of Portfolio Change To Portfolio ▲ AMZN Amazon.com Inc. Reduce -17.4% 21.20% −6.88 GOOGL Alphabet Inc. Class A Reduce -24.4% 9.68% −5.16 MELI MercadoLibre Inc. Reduce -83.4% 0.62% −2.53 TMO Thermo Fisher Scientific Inc. Reduce -50.0% 1.84% −1.63 NU Nu Holdings Ltd./Cayman Isl-A Reduce -10.6% 11.08% −1.27 SGML Sigma Lithium Corp. Sold out 0.00% −0.90 EL Estee Lauder Companies Class A Sold out 0.00% −0.36 KO The Coca-Cola Co. Sold out 0.00% −0.27 DHR Danaher Corp. Reduce -50.0% 0.17% −0.15
Portfolio Buys Q2 2024 → Q3 2024 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 Q2 2024 % Of Portfolio Change To Portfolio ▼ GE General Electric New 4.65% +4.65 MSFT Microsoft Corp. Add +23.8% 20.77% +2.39 ETN Eaton Corp. PLC Add +318.5% 3.11% +2.37 CP Canadian Pacific Kansas City New 2.02% +2.02 OXY Occidental Petroleum Corp. Add +151.3% 3.60% +1.75 TSM Taiwan Semiconductor-SP ADR Add +67.8% 3.73% +1.38 AMAT Applied Materials Inc. New 1.04% +1.04 CVX Chevron Corp. Add +71.0% 2.79% +0.96 DELL Dell Technologies -C Add +620.0% 0.68% +0.56 V Visa Inc. Class A Add +26.9% 2.58% +0.53 NVDA Nvidia Corp. Add +55.1% 1.33% +0.41 MCO Moody's Corp. Add +79.2% 0.85% +0.40 MA Mastercard Inc. Class A New 0.40% +0.40 MLKMF Waldencast PLC-A Add +10.0% 3.19% +0.17
Notes & Other Activity Q2 2024 → Q3 2024 Security Class Change vs Q2 2024 Shares / Principal Value ▼ MLKWF Waldencast Acq Class A -CW27 *W EXP 07/27/202 Add +2.9% 342,999 $53K
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 20 $517.6M AMZN, MSFT, GE, TSM, LIN Q1 2026 16 $383.1M MSFT, LIN, GE, NU, TSM Q4 2025 17 $302.8M AMZN, MSFT, TSM, GE, NU Q3 2025 17 $285.6M AMZN, MSFT, GE, TSM, NU Q2 2025 18 $292.3M AMZN, MSFT, GE, TSM, GOOGL Q1 2025 21 $195.8M AMZN, MSFT, GOOGL, NU, GE Q4 2024 21 $196.6M AMZN, MSFT, GOOGL, NU, GE Q3 2024 28 $250.9M AMZN, MSFT, NU, GOOGL, GE Q2 2024 27 $237.8M AMZN, MSFT, GOOGL, NU, TMO Q1 2024 17 $186.0M AMZN, GOOGL, MSFT, NU, MLKMF