Squadra Investments - Gestao DE Recursos Ltda. In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Squadra Investments - Gestao DE Recursos Ltda. reported 3 stock positions worth $377.6 million . Its top holding was XP Class A (XP) at 57.4% of the portfolio, followed by Stoneco Class A (STNE, 28.3% ) and MercadoLibre (MELI, 14.2% ). Compared with Q2 2024, it added to 1 and reduced 2. The biggest buy was Stoneco Class A (STNE, shares +12% ) and the biggest sale MercadoLibre (MELI, shares −51% ).
Location RIO DE JANEIRO, D5
CIK 0001577806
Portfolio Value $377.6M (Q3 2024) Holdings 3 stocks · $377.6M 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 XP XP Inc. Class A 12,082,836 $216.8M Reduce -1.8% STNE Stoneco Ltd. Class A 9,504,474 $107.0M Add +11.6% MELI MercadoLibre Inc. 26,218 $53.8M Reduce -51.4%
Options reported separately and not counted above: SPY puts ($81.0M), NU puts ($29.3M), STNE calls ($11.4M), STNE puts ($11.4M).
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 ▲ MELI MercadoLibre Inc. Reduce -51.4% 14.25% −7.51 XP XP Inc. Class A Reduce -1.8% 57.41% +4.25
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 ▼ STNE Stoneco Ltd. Class A Add +11.6% 28.34% +3.26
Options Activity Q2 2024 → Q3 2024 Security Type Change vs Q2 2024 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put New 141,200 $81.0M NU Nu Holdings Ltd./Cayman Isl-A put New 2,150,000 $29.3M STNE Stoneco Ltd. Class A call Reduce -67.0% 1,014,600 $11.4M STNE Stoneco Ltd. Class A put Reduce -67.0% 1,014,600 $11.4M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 4 $714.8M NU, MELI, INTR, STNE Q1 2026 6 $894.1M MELI, NU, STNE, XP, INTR Q4 2025 5 $483.6M MELI, NU, XP, INTR, STNE Q3 2025 4 $425.7M NU, XP, STNE, INTR Q2 2025 4 $397.3M XP, NU, STNE, INTR Q1 2025 3 $272.3M STNE, XP, MELI Q4 2024 3 $211.8M STNE, XP, MELI Q3 2024 3 $377.6M XP, STNE, MELI Q2 2024 3 $407.1M XP, STNE, MELI Q1 2024 2 $520.0M XP, MELI