Milestones Administradora de Recursos Ltda.

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 5, 2025), Milestones Administradora de Recursos Ltda. reported 21 stock positions worth $196.6 million. Its top holding was Amazon.com (AMZN) at 26.6% of the portfolio, followed by Microsoft (MSFT, 21.0%) and Alphabet Class A (GOOGL, 9.7%). Compared with Q3 2024, it opened 1 new position, sold out of 8, added to 4 and reduced 8. The biggest buy was MercadoLibre (MELI, shares +391%) and the biggest sale Nu Holdings Ltd./Cayman Isl-A (NU, shares −32%).

Most Recent 13F
Q2 2026
Location
JARAGUA DO SUL, D5
CIK
0001912095
Portfolio Value
$196.6M (Q4 2024)
SEC Filing
0001912095-25-000002 ↗ filed Feb 5, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $186.0M Q1 2024 Q2 2024: $237.8M Q2 2024 Q3 2024: $250.9M Q3 2024 Q4 2024: $196.6M $196.6M Q4 2024 Q1 2025: $195.8M Q1 2025 Q2 2025: $292.3M Q2 2025 Q3 2025: $285.6M Q3 2025 Q4 2025: $302.8M Q4 2025 Q1 2026: $383.1M Q1 2026 Q2 2026: $517.6M Q2 2026

Holdings 21 stocks · $196.6M
AMZN Amazon.com Inc. 26.60% 238,435 $52.3M Reduce -16.5%
MSFT Microsoft Corp. 20.96% 97,792 $41.2M Reduce -19.2%
GOOGL Alphabet Inc. Class A 9.72% 100,975 $19.1M Reduce -31.1%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 7.29% 1,384,000 $14.3M Reduce -32.1%
GE General Electric filed as GE AEROSPACE 5.25% 61,860 $10.3M No change
OXY Occidental Petroleum Corp. 4.87% 193,820 $9.6M Add +10.6%
MLKMF Waldencast PLC-A 4.50% 2,200,000 $8.8M No change
TSM Taiwan Semiconductor-SP ADR 4.42% 44,040 $8.7M Reduce -18.3%
MELI MercadoLibre Inc. 3.21% 3,714 $6.3M Add +390.6%
V Visa Inc. Class A 2.54% 15,810 $5.0M Reduce -32.9%
CVX Chevron Corp. 2.23% 30,340 $4.4M Reduce -36.3%
TMO Thermo Fisher Scientific Inc. 1.98% 7,465 $3.9M No change
LIN Linde PLC 1.36% 6,400 $2.7M No change
SPGI S&P Global Inc. 1.05% 4,145 $2.1M Add +77.9%
DELL Dell Technologies -C 0.84% 14,400 $1.7M No change
MCO Moody's Corp. 0.65% 2,680 $1.3M Reduce -40.2%
ICE Intercontinental Exchange Inc. 0.56% 7,450 $1.1M No change
MA Mastercard Inc. Class A 0.55% 2,035 $1.1M No change
AMD Advanced Micro Devices 0.52% 8,400 $1.0M New
BRK.B Berkshire Hathaway Inc. Class B 0.48% 2,080 $943K No change
DHR Danaher Corp. 0.41% 3,500 $803K Add +133.3%
Other holdings (1): bonds, preferreds, convertibles and warrants · $58K (not counted above)
SecurityClassShares / PrincipalValueChange
MLKWF Waldencast Acq Class A -CW27 *W EXP 07/27/202 342,999$58KNo change

Total filed on the 13F, all lines: $196.7M.

Portfolio Sells Q3 2024 → Q4 2024
NU Nu Holdings Ltd./Cayman Isl-A Reduce -32.1% 7.29% −3.79
ETN Eaton Corp. PLC Sold out 0.00% −3.11
CP Canadian Pacific Kansas City Sold out 0.00% −2.02
NVDA Nvidia Corp. Sold out 0.00% −1.33
STNE Stoneco Ltd. Class A Sold out 0.00% −1.20
AMAT Applied Materials Inc. Sold out 0.00% −1.04
CVX Chevron Corp. Reduce -36.3% 2.23% −0.56
AAPL Apple Inc. Sold out 0.00% −0.54
NKE Nike Inc. Class B Sold out 0.00% −0.25
MCO Moody's Corp. Reduce -40.2% 0.65% −0.20
BILI Bilibili Inc.-Sponsored ADR Sold out 0.00% −0.13
V Visa Inc. Class A Reduce -32.9% 2.54% −0.04
GOOGL Alphabet Inc. Class A Reduce -31.1% 9.72% +0.04
MSFT Microsoft Corp. Reduce -19.2% 20.96% +0.20
TSM Taiwan Semiconductor-SP ADR Reduce -18.3% 4.42% +0.69
AMZN Amazon.com Inc. Reduce -16.5% 26.60% +5.41

Portfolio Buys Q3 2024 → Q4 2024
MELI MercadoLibre Inc. Add +390.6% 3.21% +2.59
OXY Occidental Petroleum Corp. Add +10.6% 4.87% +1.27
SPGI S&P Global Inc. Add +77.9% 1.05% +0.57
AMD Advanced Micro Devices New 0.52% +0.52
DHR Danaher Corp. Add +133.3% 0.41% +0.24

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 20$517.6MAMZN, MSFT, GE, TSM, LIN
Q1 2026 16$383.1MMSFT, LIN, GE, NU, TSM
Q4 2025 17$302.8MAMZN, MSFT, TSM, GE, NU
Q3 2025 17$285.6MAMZN, MSFT, GE, TSM, NU
Q2 2025 18$292.3MAMZN, MSFT, GE, TSM, GOOGL
Q1 2025 21$195.8MAMZN, MSFT, GOOGL, NU, GE
Q4 2024 21$196.6MAMZN, MSFT, GOOGL, NU, GE
Q3 2024 28$250.9MAMZN, MSFT, NU, GOOGL, GE
Q2 2024 27$237.8MAMZN, MSFT, GOOGL, NU, TMO
Q1 2024 17$186.0MAMZN, GOOGL, MSFT, NU, MLKMF