Naman Capital Ltda
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Naman Capital Ltda reported 13 stock positions worth $307.7 million. Its top holding was Invesco S&P 500 Equal Weight (RSP) at 29.0% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 28.5%) and Ultrapar Particpac-Spon ADR (UGP, 15.0%). Compared with Q1 2025, it opened 1 new position, added to 1 and reduced 1. The biggest buy was SS SPDR S&P 500 ETF Trust-US (SPY, shares +108%) and the biggest sale Invesco S&P 500 Equal Weight (RSP, shares −12%).
- Most Recent 13F
- Q2 2026
- Location
- Sao Paulo, D5
- CIK
- 0001946136
- Portfolio Value
- $307.7M (Q2 2025)
- SEC Filing
- 0000919574-25-004789 ↗ filed Aug 14, 2025
Holdings Value
Holdings 13 stocks · $307.7M
| RSP Invesco S&P 500 Equal Weight | 28.95% | 490,199 | $89.1M | Reduce -12.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 28.45% | 141,721 | $87.6M | Add +107.8% |
| UGP Ultrapar Particpac-Spon ADR | 15.01% | 14,079,999 | $46.2M | No change |
| EZU iShares MSCI Eurozone ETF | 8.73% | 451,750 | $26.9M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 4.93% | 31,200 | $15.2M | No change |
| MSFT Microsoft Corp. | 4.01% | 24,800 | $12.3M | No change |
| BRK.A Berkshire Hathaway Inc. Class A | 2.37% | 10 | $7.3M | No change |
| GOOG Alphabet Inc. Class C | 2.31% | 40,000 | $7.1M | No change |
| GOOGL Alphabet Inc. Class A | 1.96% | 34,200 | $6.0M | No change |
| V Visa Inc. Class A | 1.18% | 10,200 | $3.6M | New |
| SUZ Suzano SA - Spon ADR | 1.05% | 344,547 | $3.2M | No change |
| MLKMF Waldencast PLC-A | 0.62% | 776,722 | $1.9M | No change |
| CSANY Cosan SA -ADR | 0.45% | 271,941 | $1.4M | No change |
Portfolio Sells Q1 2025 → Q2 2025
| RSP Invesco S&P 500 Equal Weight | Reduce -12.2% | 28.95% | −9.04 |
Portfolio Buys Q1 2025 → Q2 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 11 | $323.1M | SPY, UGP, EZU, EWY, GOOGL |
| Q1 2026 | 13 | $359.8M | SPY, RSP, UGP, EZU, BRK.B |
| Q4 2025Amended | 12 | $355.5M | SPY, RSP, UGP, EZU, BRK.B |
| Q3 2025 | 12 | $356.3M | SPY, RSP, UGP, EZU, BRK.B |
| Q2 2025 | 13 | $307.7M | RSP, SPY, UGP, EZU, BRK.B |
| Q1 2025 | 12 | $254.7M | RSP, UGP, SPY, EZU, BRK.B |
| Q4 2024 | 12 | $167.4M | RSP, UGP, SPY, BRK.B, MSFT |
| Q3 2024 | 11 | $261.1M | SPY, UGP, RSP, MSFT, BRK.B |
| Q2 2024 | 10 | $235.8M | SPY, UGP, MSFT, GOOGL, BRK.B |
| Q1 2024 | 9 | $256.4M | SPY, UGP, MSFT, BRK.B, ORCL |