Squadra Investments - Gestao DE Recursos Ltda.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Squadra Investments - Gestao DE Recursos Ltda. reported 4 stock positions worth $425.7 million. Its top holding was Nu Holdings Ltd./Cayman Isl-A (NU) at 43.5% of the portfolio, followed by XP Class A (XP, 30.3%) and Stoneco Class A (STNE, 13.5%). Compared with Q2 2025, it added to 2 and reduced 2. The biggest buy was Inter Class A (INTR, shares +1352%) and the biggest sale Stoneco Class A (STNE, shares −57%).
- Most Recent 13F
- Q2 2026
- Location
- RIO DE JANEIRO, D5
- CIK
- 0001577806
- Portfolio Value
- $425.7M (Q3 2025)
- SEC Filing
- 0000899140-25-001316 ↗ filed Nov 14, 2025
Holdings Value
Holdings 4 stocks · $425.7M
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 43.45% | 11,554,373 | $185.0M | Add +26.0% |
| XP XP Inc. Class A | 30.31% | 6,867,388 | $129.0M | Reduce -10.9% |
| STNE Stoneco Ltd. Class A | 13.45% | 3,028,658 | $57.3M | Reduce -57.0% |
| INTR Inter & Co. Inc. Class A | 12.78% | 5,896,781 | $54.4M | Add +1352.4% |
Options reported separately and not counted above: XP puts ($14.5M), NU puts ($7.8M).
Portfolio Sells Q2 2025 → Q3 2025
Portfolio Buys Q2 2025 → Q3 2025
Options Activity Q2 2025 → Q3 2025
| STNE Stoneco Ltd. Class A | put | Sold out | 928,800 | $14.9Mbefore exit |
| XP XP Inc. Class A | put | Add +8.6% | 771,200 | $14.5M |
| NU Nu Holdings Ltd./Cayman Isl-A | put | New | 490,000 | $7.8M |
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 |