Squadra Investments - Gestao DE Recursos Ltda.

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Squadra Investments - Gestao DE Recursos Ltda. reported 2 stock positions worth $520.0 million. Its top holding was XP Class A (XP) at 51.8% of the portfolio, followed by MercadoLibre (MELI, 48.2%). Compared with Q4 2023, it sold out of 1 and added to 2. The biggest buy was XP Class A (XP, shares +16%) and the biggest sale an exit from Stoneco Class A (STNE).

Most Recent 13F
Q2 2026
Location
RIO DE JANEIRO, D5
CIK
0001577806
Portfolio Value
$520.0M (Q1 2024)
SEC Filing
0000899140-24-000616 ↗ filed May 15, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $520.0M $520.0M Q1 2024 Q2 2024: $407.1M Q2 2024 Q3 2024: $377.6M Q3 2024 Q4 2024: $211.8M Q4 2024 Q1 2025: $272.3M Q1 2025 Q2 2025: $397.3M Q2 2025 Q3 2025: $425.7M Q3 2025 Q4 2025: $483.6M Q4 2025 Q1 2026: $894.1M Q1 2026 Q2 2026: $714.8M Q2 2026

Holdings 2 stocks · $520.0M
XP XP Inc. Class A 51.80% 10,496,675 $269.3M Add +16.4%
MELI MercadoLibre Inc. 48.20% 165,789 $250.7M Add +9.7%

Options reported separately and not counted above: SPY puts ($130.8M).

Portfolio Sells Q4 2023 → Q1 2024
STNE Stoneco Ltd. Class A Sold out 0.00% −2.32

Portfolio Buys Q4 2023 → Q1 2024
XP XP Inc. Class A Add +16.4% 51.80% +3.19
MELI MercadoLibre Inc. Add +9.7% 48.20% −0.87

Options Activity Q4 2023 → Q1 2024
SPY SS SPDR S&P 500 ETF Trust-US put New 250,000 $130.8M

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$714.8MNU, MELI, INTR, STNE
Q1 2026 6$894.1MMELI, NU, STNE, XP, INTR
Q4 2025 5$483.6MMELI, NU, XP, INTR, STNE
Q3 2025 4$425.7MNU, XP, STNE, INTR
Q2 2025 4$397.3MXP, NU, STNE, INTR
Q1 2025 3$272.3MSTNE, XP, MELI
Q4 2024 3$211.8MSTNE, XP, MELI
Q3 2024 3$377.6MXP, STNE, MELI
Q2 2024 3$407.1MXP, STNE, MELI
Q1 2024 2$520.0MXP, MELI