Squadra Investments - Gestao DE Recursos Ltda.

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Squadra Investments - Gestao DE Recursos Ltda. reported 6 stock positions worth $894.1 million. Its top holding was MercadoLibre (MELI) at 39.2% of the portfolio, followed by Nu Holdings Ltd./Cayman Isl-A (NU, 35.9%) and Stoneco Class A (STNE, 10.5%). Compared with Q4 2025, it opened 1 new position, added to 4 and reduced 1. The biggest buy was Stoneco Class A (STNE, shares +435%) and the biggest sale XP Class A (XP, shares −18%).

Most Recent 13F
Q2 2026
Location
RIO DE JANEIRO, D5
CIK
0001577806
Portfolio Value
$894.1M (Q1 2026)
SEC Filing
0000899140-26-000581 ↗ filed May 15, 2026

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $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 $894.1M Q1 2026 Q2 2026: $714.8M Q2 2026

Holdings 6 stocks · $894.1M
MELI MercadoLibre Inc. 39.24% 202,930 $350.9M Add +126.3%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 35.86% 22,312,501 $320.6M Add +144.0%
STNE Stoneco Ltd. Class A 10.52% 6,662,253 $94.1M Add +435.5%
XP XP Inc. Class A 8.32% 3,909,501 $74.4M Reduce -18.4%
INTR Inter & Co. Inc. Class A 5.63% 6,320,952 $50.3M Add +1.1%
VALE Vale SA-SP ADR 0.43% 240,000 $3.8M New

Portfolio Sells Q4 2025 → Q1 2026
XP XP Inc. Class A Reduce -18.4% 8.32% −7.90

Portfolio Buys Q4 2025 → Q1 2026
STNE Stoneco Ltd. Class A Add +435.5% 10.52% +6.72
NU Nu Holdings Ltd./Cayman Isl-A Add +144.0% 35.86% +4.20
MELI MercadoLibre Inc. Add +126.3% 39.24% +1.90
VALE Vale SA-SP ADR New 0.43% +0.43
INTR Inter & Co. Inc. Class A Add +1.1% 5.63% −5.34

Options Activity Q4 2025 → Q1 2026
NU Nu Holdings Ltd./Cayman Isl-A put Sold out 3,061,800 $51.3Mbefore exit

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