Pangea Capital Gestao de Recursos Ltda.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed August 21, 2026), Pangea Capital Gestao de Recursos Ltda. reported 7 stock positions worth $115.5 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 70.5% of the portfolio, followed by Amazon.com (AMZN, 17.0%) and Berkshire Hathaway Class A (BRK.A, 7.8%). Compared with Q2 2025, it sold out of 1, added to 1 and reduced 1. The biggest buy was Berkshire Hathaway Class B (BRK.B, shares +1%) and the biggest sale Brunswick (BC, shares −51%).

Most Recent 13F
Q2 2026
Location
RIO DE JANEIRO, D5
CIK
0002119167
Portfolio Value
$115.5M (Q3 2025)
SEC Filing
0001398344-26-015195 ↗ filed Aug 21, 2026

Holdings Value

0$50.0M$100.0M$150.0M Q1 2024: $117.9M Q1 2024 Q2 2024: $116.4M Q2 2024 Q3 2024: $129.1M Q3 2024 Q4 2024: $130.1M Q4 2024 Q1 2025: $119.9M Q1 2025 Q2 2025: $111.6M Q2 2025 Q3 2025: $115.5M $115.5M Q3 2025 Q4 2025: $123.5M Q4 2025 Q1 2026: $131.3M Q1 2026 Q2 2026: $144.7M Q2 2026

Holdings 7 stocks · $115.5M
BRK.B Berkshire Hathaway Inc. Class B 70.52% 162,007 $81.4M Add +1.3%
AMZN Amazon.com Inc. 16.96% 89,221 $19.6M No change
BRK.A Berkshire Hathaway Inc. Class A 7.84% 12 $9.1M No change
EWZ iShares MSCI Brazil ETF 3.62% 135,000 $4.2M No change
META Meta Platforms Inc. Class A 0.57% 900 $661K No change
BC Brunswick Corp. 0.27% 4,900 $310K Reduce -50.5%
LGIH Lgi Homes Inc. 0.22% 5,000 $259K No change

Options reported separately and not counted above: ISHARES INC calls ($66K).

Portfolio Sells Q2 2025 → Q3 2025
BC Brunswick Corp. Reduce -50.5% 0.27% −0.22
RICK Rci Hospitality Holdings Inc. Sold out 0.00% −0.20

Portfolio Buys Q2 2025 → Q3 2025
BRK.B Berkshire Hathaway Inc. Class B Add +1.3% 70.52% +0.89

Options Activity Q2 2025 → Q3 2025
ISHARES INC call New 220 $66K

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 10$144.7MBRK.B, AMZN, BRK.A, MELI, META
Q1 2026Amended 8$131.3MBRK.B, AMZN, BRK.A, MELI, META
Q4 2025 8$123.5MBRK.B, AMZN, BRK.A, MELI, META
Q3 2025Amended 7$115.5MBRK.B, AMZN, BRK.A, EWZ, META
Q2 2025 8$111.6MBRK.B, AMZN, BRK.A, EWZ, META
Q1 2025 6$119.9MBRK.B, AMZN, BRK.A, EWZ, LGIH
Q4 2024 4$130.1MBRK.B, AMZN, BRK.A, EWZ
Q3 2024 4$129.1MBRK.B, AMZN, BRK.A, EWZ
Q2 2024 4$116.4MBRK.B, AMZN, BRK.A, EWZ
Q1 2024 3$117.9MBRK.B, AMZN, BRK.A