TB Capital Gestao de Recursos Ltda.
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), TB Capital Gestao de Recursos Ltda. reported 19 stock positions worth $182.7 million. Its top holding was Booking (BKNG) at 12.4% of the portfolio, followed by Airbnb Class A (ABNB, 10.1%) and Nu Holdings Ltd./Cayman Isl-A (NU, 9.2%). Compared with Q1 2026, it opened 4 new positions, sold out of 2, added to 7 and reduced 8. The biggest buy was a new position in S&P Global (SPGI) and the biggest sale Airbnb Class A (ABNB, shares −33%).
- Most Recent 13F
- Q2 2026
- Location
- Rio de Janeiro, D5
- CIK
- 0002077092
- Portfolio Value
- $182.7M (Q2 2026)
- SEC Filing
- 0001213900-26-089611 ↗ filed Aug 14, 2026
Holdings Value
Holdings 19 stocks · $182.7M
| BKNG Booking Holdings Inc. | 12.44% | 127,517 | $22.7M | Add +21.2% |
| ABNB Airbnb Inc. Class A | 10.15% | 129,575 | $18.5M | Reduce -32.7% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 9.19% | 1,256,844 | $16.8M | Add +43.2% |
| DLO Dlocal Ltd. | 7.91% | 1,112,612 | $14.5M | Add +38.2% |
| SAP Sap SE-Sponsored ADR | 7.75% | 91,841 | $14.2M | Add +18.2% |
| CPNG Coupang Inc. | 6.82% | 717,205 | $12.5M | Add +44.1% |
| APO Apollo Global Management Inc. | 6.34% | 97,952 | $11.6M | Reduce -16.6% |
| SPGI S&P Global Inc. | 5.80% | 26,027 | $10.6M | New |
| V Visa Inc. Class A | 5.76% | 30,693 | $10.5M | Add +49.6% |
| MSFT Microsoft Corp. | 4.88% | 23,926 | $8.9M | Reduce -14.6% |
| MA Mastercard Inc. Class A | 4.87% | 17,329 | $8.9M | Add +40.3% |
| META Meta Platforms Inc. Class A | 4.03% | 13,081 | $7.4M | Reduce -4.0% |
| MELI MercadoLibre Inc. | 3.12% | 3,360 | $5.7M | New |
| TSM Taiwan Semiconductor-SP ADR | 2.91% | 11,138 | $5.3M | Reduce -40.9% |
| ADBE Adobe Inc. | 2.61% | 23,269 | $4.8M | Reduce -1.8% |
| AMZN Amazon.com Inc. | 2.57% | 19,680 | $4.7M | Reduce -4.5% |
| GOOG Alphabet Inc. Class C | 1.70% | 8,792 | $3.1M | Reduce -17.9% |
| SPOT Spotify Technology SA | 1.13% | 4,503 | $2.1M | New |
| GOOGL Alphabet Inc. Class A | 0.00% | 18 | $6K | New |
Portfolio Sells Q1 2026 → Q2 2026
| ABNB Airbnb Inc. Class A | Reduce -32.7% | 10.15% | −4.73 |
| NVDA Nvidia Corp. | Sold out | 0.00% | −4.00 |
| MERCADOLIBRE INC (MELI 4.9 01/15/33) | Sold out | 0.00% | −3.70 |
| APO Apollo Global Management Inc. | Reduce -16.6% | 6.34% | −1.66 |
| MSFT Microsoft Corp. | Reduce -14.6% | 4.88% | −1.46 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -40.9% | 2.91% | −0.98 |
| ADBE Adobe Inc. | Reduce -1.8% | 2.61% | −0.91 |
| META Meta Platforms Inc. Class A | Reduce -4.0% | 4.03% | −0.74 |
| GOOG Alphabet Inc. Class C | Reduce -17.9% | 1.70% | −0.18 |
| AMZN Amazon.com Inc. | Reduce -4.5% | 2.57% | −0.06 |
Portfolio Buys Q1 2026 → Q2 2026
| SPGI S&P Global Inc. | New | 5.80% | +5.80 |
| MELI MercadoLibre Inc. | New | 3.12% | +3.12 |
| V Visa Inc. Class A | Add +49.6% | 5.76% | +1.97 |
| BKNG Booking Holdings Inc. | Add +21.2% | 12.44% | +1.60 |
| DLO Dlocal Ltd. | Add +38.2% | 7.91% | +1.52 |
| NU Nu Holdings Ltd./Cayman Isl-A | Add +43.2% | 9.19% | +1.48 |
| SPOT Spotify Technology SA | New | 1.13% | +1.13 |
| MA Mastercard Inc. Class A | Add +40.3% | 4.87% | +1.10 |
| CPNG Coupang Inc. | Add +44.1% | 6.82% | +1.07 |
| GOOGL Alphabet Inc. Class A | New | 0.00% | +0.00 |
| SAP Sap SE-Sponsored ADR | Add +18.2% | 7.75% | −0.39 |