Turim 21 Investimentos Ltda.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Turim 21 Investimentos Ltda. reported 117 stock positions worth $297.2 million. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 29.4% of the portfolio, followed by iShares MSCI Eafe ETF (EFA, 13.2%) and Vale SA-SP ADR (VALE, 11.4%). Compared with Q2 2025, it opened 68 new positions, sold out of 34, added to 10 and reduced 18. The biggest buy was a new position in VG Morningstar TS MKT ETF-US (VTI) and the biggest sale iShares MSCI Brazil ETF (EWZ, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- RIO DE JANEIRO, D5
- CIK
- 0001652174
- Portfolio Value
- $297.2M (Q3 2025)
- SEC Filing
- 0001104659-25-111898 ↗ filed Nov 14, 2025
Holdings Value
Holdings 117 stocks · $297.2M
| VTI VG Morningstar TS MKT ETF-US | 29.38% | 131,078 | $87.3M | New |
| EFA iShares MSCI Eafe ETF | 13.21% | 420,344 | $39.2M | Reduce -27.0% |
| VALE Vale SA-SP ADR | 11.44% | 3,131,646 | $34.0M | Reduce -0.2% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 11.43% | 370,323 | $34.0M | Reduce -2.6% |
| PROSHARES TR | 7.53% | 37,267 | $22.4M | New |
| IEMG iShares Core MSCI Emerging | 4.29% | 193,594 | $12.8M | New |
| VTWO Vanguard Russell 2000 ETF | 2.96% | 24,721 | $8.8M | New |
| ERIC Ericsson (lm) Tel-SP ADR filed as TELEFONAKTIEBOLAGET LM ERICS | 1.86% | 670,000 | $5.5M | No change |
| MSFT Microsoft Corp. | 1.58% | 9,039 | $4.7M | Reduce -86.1% |
| GOOG Alphabet Inc. Class C | 1.56% | 19,080 | $4.6M | Reduce -86.3% |
| AMZN Amazon.com Inc. | 1.50% | 20,370 | $4.5M | Reduce -83.6% |
| TIP iShares Tips Bond ETF | 1.49% | 39,791 | $4.4M | Reduce -71.5% |
| PXD Pioneer Natural Resources Co. filed as MICROSTRATEGY INC-CL A | 1.25% | 11,500 | $3.7M | New |
| EMXC iShares MSCI Emr MRK Ex Chna | 1.24% | 54,372 | $3.7M | New |
| BRK.A Berkshire Hathaway Inc. Class A | 1.02% | 4 | $3.0M | No change |
| IBIT iShares Bitcoin Trust ETF | 0.76% | 34,603 | $2.2M | New |
| XOP SS SPDR S&P Og Exp & Prod | 0.74% | 11,573 | $2.2M | New |
| AAPL Apple Inc. | 0.61% | 7,119 | $1.8M | Add +15.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.58% | 15,179 | $1.7M | Reduce -2.9% |
| KWEB Kranesh Csi China Internet | 0.50% | 35,359 | $1.5M | Add +368.9% |
| CROX Crocs Inc. | 0.37% | 123,215 | $1.1M | New |
| IEI iShares 3-7 Year Treasury Bo | 0.37% | 9,215 | $1.1M | Reduce -70.9% |
| IEF iShares 7-10 Year Treasury B | 0.37% | 11,351 | $1.1M | Reduce -70.8% |
| EWZ iShares MSCI Brazil ETF | 0.35% | 33,913 | $1.1M | Reduce -99.3% |
| DMRC Digimarc Corp. | 0.32% | 98,475 | $962K | Add +4.2% |
| ETHE Grayscale Ethereum Staking E | 0.29% | 25,000 | $857K | New |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 0.27% | 3,105 | $792K | New |
| SW Smurfit Westrock PLC | 0.22% | 10,916 | $656K | Add +198.3% |
| EEM iShares MSCI Emerging Market | 0.21% | 11,733 | $627K | Reduce -7.0% |
| CCJ Cameco Corp. | 0.19% | 6,734 | $565K | Reduce -39.8% |
| GGAL Grupo Financiero Galicia-ADR | 0.16% | 17,700 | $488K | No change |
| BBD Banco Bradesco-ADR | 0.16% | 66,001 | $484K | New |
| VTEX Vtex Class A | 0.15% | 2,227 | $460K | New |
| SPMO Invesco S&P 500 Momentum ETF | 0.14% | 3,345 | $405K | New |
| IGV iShares Expanded Tech-Softwa | 0.11% | 46,100 | $335K | New |
| NXE Nexgen Energy Ltd. | 0.11% | 1,411 | $321K | Reduce -98.8% |
| ARKK ARK Innovation ETF | 0.09% | 3,235 | $279K | No change |
| VSXY Victoria's Secret & Co. | 0.08% | 676 | $238K | New |
| OBDC Blue Owl Capital Corp. | 0.07% | 15,416 | $197K | No change |
| BUG Global X Cybersecurity ETF | 0.06% | 5,393 | $190K | No change |
| TSLA Tesla Inc. | 0.06% | 403 | $179K | Add +16.8% |
| IOT Samsara Inc. Class A | 0.05% | 4,277 | $159K | New |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.05% | 505 | $155K | No change |
| SLV iShares Silver Trust | 0.05% | 3,500 | $148K | New |
| GOOGL Alphabet Inc. Class A | 0.04% | 442 | $107K | Add +10.5% |
| LIT Global X Lithium & Battery T | 0.03% | 1,764 | $100K | No change |
| IEFA iShares Core MSCI Eafe ETF | 0.03% | 1,072 | $94K | No change |
| IDEV iShares Core MSCI Dev MKTS | 0.03% | 1,133 | $91K | No change |
| PAM Pampa Energia SA-Spon ADR | 0.03% | 1,906 | $90K | Reduce -82.5% |
| HODL Vaneck Bitcoin ETF | 0.03% | 2,708 | $88K | New |
| FBTC Fidelity Wise Origin Bitcoin | 0.03% | 877 | $88K | New |
| ARKB ARK 21SHARES Bitcoin ETF | 0.03% | 2,301 | $87K | New |
| BITB Bitwise Bitcoin ETF | 0.03% | 1,405 | $87K | New |
| AMBIQ Ambipar Emergency Response | 0.03% | 108,800 | $87K | New |
| NVDA Nvidia Corp. | 0.03% | 414 | $77K | Reduce -94.1% |
| IVE iShares S&P 500 Value ETF | 0.02% | 1,206 | $72K | Reduce -45.9% |
| ECH iShares MSCI Chile ETF | 0.02% | 1,890 | $62K | No change |
| RPV Invesco S&P 500 Pure Value E | 0.02% | 375 | $52K | New |
| WIW Western Asst Infl-LNK Opp | 0.02% | 5,674 | $50K | New |
| BUD Anheuser-Busch Inbev-SPN ADR | 0.02% | 3,820 | $48K | New |
| NVNIF Nvni Group Ltd. | 0.02% | 55,870 | $46K | Add +50.9% |
| VCIT Vanguard Int-Term Corporate | 0.01% | 521 | $44K | No change |
| JAAA Janus Henderson Aaa Clo ETF | 0.01% | 790 | $40K | New |
| BND Vanguard Total Bond Market | 0.01% | 529 | $39K | Add +9.3% |
| SOXX iShares Semiconductor ETF | 0.01% | 2,450 | $39K | New |
| XLE SS Energy Select Sector | 0.01% | 400 | $36K | Reduce -93.3% |
| LHX L3HARRIS Technologies Inc. | 0.01% | 462 | $34K | New |
| JOBY Joby Aviation Inc. | 0.01% | 2,057 | $33K | No change |
| BHK BlackRock Core Bond Trust | 0.01% | 3,112 | $31K | New |
| PULS Pgim Ultra Short Bond ETF | 0.01% | 604 | $30K | New |
| CHI Calamos Convert Opport & Inc. | 0.01% | 1,945 | $21K | New |
| RDVI FT Vest Rising Dividend Achi | 0.01% | 804 | $21K | New |
| BILL Bill Holdings Inc. | 0.01% | 392 | $21K | New |
| FTHI Fthi/First Trust Exchange-TR | 0.01% | 866 | $21K | New |
| ERC Allspring Multi-Sector Inc. | 0.01% | 2,127 | $20K | New |
| BTZ BlackRock Credit Allocation | 0.01% | 1,840 | $20K | New |
| JPC Nuveen Prefered & Income Opp | 0.01% | 2,479 | $20K | New |
| XETYX Eaton Vance Tax-MGD Div Eqty | 0.01% | 1,278 | $20K | New |
| INTU Intuit Inc. | 0.01% | 22 | $20K | New |
| TLH iShares 10-20 Year Treasury | 0.01% | 197 | $20K | New |
| EVTR Eaton Vance Total Return | 0.01% | 391 | $20K | New |
| PFN PIMCO Income Strategy FD II | 0.01% | 2,649 | $20K | New |
| XEVVX Eaton Vance Ltd. Durat Inc. | 0.01% | 1,976 | $20K | New |
| ISD Pgim High Yield Bond Fund | 0.01% | 1,386 | $20K | New |
| KNG FT Vest S&P 500 DVD Arst TRG | 0.01% | 403 | $20K | New |
| ARDC Ares Dynamic Credit All | 0.01% | 1,403 | $20K | New |
| MELI MercadoLibre Inc. | 0.01% | 8 | $19K | No change |
| ACHR Archer Aviation Inc. Class A | 0.01% | 1,944 | $19K | No change |
| UNH Unitedhealth Group Inc. | 0.00% | 40 | $14K | New |
| BP BP PLC-Spons ADR | 0.00% | 1,029 | $12K | New |
| PANW Palo Alto Networks Inc. | 0.00% | 59 | $12K | New |
| VZ Verizon Communications Inc. | 0.00% | 253 | $11K | New |
| NEE Nextera Energy Inc. | 0.00% | 140 | $11K | New |
| ETV Eaton Vance T/M Buy-Writ Opp | 0.00% | 733 | $10K | New |
| GJUL FT Vest US Equity Moderate B | 0.00% | 253 | $10K | New |
| QCJL FT NSDQ 100 CN Buff ETF-Jul | 0.00% | 440 | $10K | New |
| AMD Advanced Micro Devices | 0.00% | 29 | $10K | New |
| FXI iShares China Large-Cap ETF | 0.00% | 62 | $10K | New |
| META Meta Platforms Inc. Class A | 0.00% | 13 | $10K | New |
| HYI Western Asset High Yield Opp | 0.00% | 838 | $10K | New |
Portfolio Sells Q2 2025 → Q3 2025
| EWZ iShares MSCI Brazil ETF | Reduce -99.3% | 0.35% | −27.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Sold out | 0.00% | −15.93 |
| MSFT Microsoft Corp. | Reduce -86.1% | 1.58% | −4.74 |
| QQQ Invesco QQQ Trust Series 1 | Sold out | 0.00% | −3.98 |
| AMZN Amazon.com Inc. | Reduce -83.6% | 1.50% | −3.81 |
| GOOG Alphabet Inc. Class C | Reduce -86.3% | 1.56% | −3.27 |
| SGOV iShares 0-3 Month Treasury B | Sold out | 0.00% | −2.90 |
| TIP iShares Tips Bond ETF | Reduce -71.5% | 1.49% | −1.51 |
| RSP Invesco S&P 500 Equal Weight | Sold out | 0.00% | −1.21 |
| IEI iShares 3-7 Year Treasury Bo | Reduce -70.9% | 0.37% | −0.37 |
| IEF iShares 7-10 Year Treasury B | Reduce -70.8% | 0.37% | −0.36 |
| CHD Church & Dwight Co. Inc. | Sold out | 0.00% | −0.21 |
| NVDA Nvidia Corp. | Reduce -94.1% | 0.03% | −0.19 |
| BMA Banco Macro SA-ADR | Sold out | 0.00% | −0.12 |
| PAM Pampa Energia SA-Spon ADR | Reduce -82.5% | 0.03% | −0.12 |
| TGS Transportador Gas-ADR SP B | Sold out | 0.00% | −0.09 |
| XLE SS Energy Select Sector | Reduce -93.3% | 0.01% | −0.09 |
| IVE iShares S&P 500 Value ETF | Reduce -45.9% | 0.02% | −0.06 |
| NXE Nexgen Energy Ltd. | Reduce -98.8% | 0.11% | −0.06 |
| AVGO Broadcom Inc. | Sold out | 0.00% | −0.05 |
| SUPV Grupo Supervielle SA-SP ADR | Sold out | 0.00% | −0.04 |
| MRK Merck & Co. Inc. | Sold out | 0.00% | −0.02 |
| V Visa Inc. Class A | Sold out | 0.00% | −0.02 |
| JNJ Johnson & Johnson | Sold out | 0.00% | −0.01 |
| URNM Sprott Uranium Miners ETF | Sold out | 0.00% | −0.01 |
| COPX Global X Copper Miners ETF | Sold out | 0.00% | −0.01 |
| REGN Regeneron Pharmaceuticals | Sold out | 0.00% | −0.01 |
| XLV SS Health Care Select Sector | Sold out | 0.00% | −0.01 |
| PBR Petroleo Brasileiro-Spon ADR | Sold out | 0.00% | −0.01 |
| TMO Thermo Fisher Scientific Inc. | Sold out | 0.00% | −0.01 |
| RIVN Rivian Automotive Inc. Class A | Sold out | 0.00% | −0.01 |
| CTVA Corteva Inc. | Sold out | 0.00% | −0.01 |
| NU Nu Holdings Ltd./Cayman Isl-A | Sold out | 0.00% | −0.01 |
| PFE Pfizer Inc. | Sold out | 0.00% | −0.01 |
| LASE Laser Photonics Corp. | Sold out | 0.00% | −0.01 |
| TTE Totalenergies SE -Spon ADR | Sold out | 0.00% | −0.00 |
| SHEL Shell PLC-ADR | Sold out | 0.00% | −0.00 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.00 |
| KVYO Klaviyo Inc. Class A | Sold out | 0.00% | −0.00 |
| STNE Stoneco Ltd. Class A | Sold out | 0.00% | −0.00 |
| ACLX Arcellx Inc. | Sold out | 0.00% | −0.00 |
| XYZ Block Inc. | Sold out | 0.00% | −0.00 |
| VTRS Viatris Inc. | Sold out | 0.00% | −0.00 |
| CGC Canopy Growth Corp. | Sold out | 0.00% | −0.00 |
| GROV Grove Collaborative Hold Inc. | Sold out | 0.00% | 0.00 |
| RSX Vaneck Russia ETF | Sold out | 0.00% | 0.00 |
| CCJ Cameco Corp. | Reduce -39.8% | 0.19% | +0.03 |
| EEM iShares MSCI Emerging Market | Reduce -7.0% | 0.21% | +0.09 |
| DIS The Walt Disney Co. | Reduce -2.9% | 0.58% | +0.21 |
| EFA iShares MSCI Eafe ETF | Reduce -27.0% | 13.21% | +3.14 |
Portfolio Buys Q2 2025 → Q3 2025
| VTI VG Morningstar TS MKT ETF-US | New | 29.38% | +29.38 |
| PROSHARES TR | New | 7.53% | +7.53 |
| IEMG iShares Core MSCI Emerging | New | 4.29% | +4.29 |
| VTWO Vanguard Russell 2000 ETF | New | 2.96% | +2.96 |
| PXD Pioneer Natural Resources Co. | New | 1.25% | +1.25 |
| EMXC iShares MSCI Emr MRK Ex Chna | New | 1.24% | +1.24 |
| IBIT iShares Bitcoin Trust ETF | New | 0.76% | +0.76 |
| XOP SS SPDR S&P Og Exp & Prod | New | 0.74% | +0.74 |
| KWEB Kranesh Csi China Internet | Add +368.9% | 0.50% | +0.45 |
| CROX Crocs Inc. | New | 0.37% | +0.37 |
| AAPL Apple Inc. | Add +15.4% | 0.61% | +0.36 |
| ETHE Grayscale Ethereum Staking E | New | 0.29% | +0.29 |
| EL Estee Lauder Companies Class A | New | 0.27% | +0.27 |
| SW Smurfit Westrock PLC | Add +198.3% | 0.22% | +0.19 |
| BBD Banco Bradesco-ADR | New | 0.16% | +0.16 |
| VTEX Vtex Class A | New | 0.15% | +0.15 |
| SPMO Invesco S&P 500 Momentum ETF | New | 0.14% | +0.14 |
| IGV iShares Expanded Tech-Softwa | New | 0.11% | +0.11 |
| VSXY Victoria's Secret & Co. | New | 0.08% | +0.08 |
| DMRC Digimarc Corp. | Add +4.2% | 0.32% | +0.08 |
| IOT Samsara Inc. Class A | New | 0.05% | +0.05 |
| SLV iShares Silver Trust | New | 0.05% | +0.05 |
| TSLA Tesla Inc. | Add +16.8% | 0.06% | +0.04 |
| FBTC Fidelity Wise Origin Bitcoin | New | 0.03% | +0.03 |
| HODL Vaneck Bitcoin ETF | New | 0.03% | +0.03 |
| ARKB ARK 21SHARES Bitcoin ETF | New | 0.03% | +0.03 |
| BITB Bitwise Bitcoin ETF | New | 0.03% | +0.03 |
| AMBIQ Ambipar Emergency Response | New | 0.03% | +0.03 |
| GOOGL Alphabet Inc. Class A | Add +10.5% | 0.04% | +0.02 |
| RPV Invesco S&P 500 Pure Value E | New | 0.02% | +0.02 |
| WIW Western Asst Infl-LNK Opp | New | 0.02% | +0.02 |
| BUD Anheuser-Busch Inbev-SPN ADR | New | 0.02% | +0.02 |
| NVNIF Nvni Group Ltd. | Add +50.9% | 0.02% | +0.01 |
| JAAA Janus Henderson Aaa Clo ETF | New | 0.01% | +0.01 |
| SOXX iShares Semiconductor ETF | New | 0.01% | +0.01 |
| LHX L3HARRIS Technologies Inc. | New | 0.01% | +0.01 |
| BHK BlackRock Core Bond Trust | New | 0.01% | +0.01 |
| PULS Pgim Ultra Short Bond ETF | New | 0.01% | +0.01 |
| CHI Calamos Convert Opport & Inc. | New | 0.01% | +0.01 |
| BILL Bill Holdings Inc. | New | 0.01% | +0.01 |
| RDVI FT Vest Rising Dividend Achi | New | 0.01% | +0.01 |
| FTHI Fthi/First Trust Exchange-TR | New | 0.01% | +0.01 |
| ERC Allspring Multi-Sector Inc. | New | 0.01% | +0.01 |
| BTZ BlackRock Credit Allocation | New | 0.01% | +0.01 |
| XETYX Eaton Vance Tax-MGD Div Eqty | New | 0.01% | +0.01 |
| INTU Intuit Inc. | New | 0.01% | +0.01 |
| TLH iShares 10-20 Year Treasury | New | 0.01% | +0.01 |
| EVTR Eaton Vance Total Return | New | 0.01% | +0.01 |
| JPC Nuveen Prefered & Income Opp | New | 0.01% | +0.01 |
| PFN PIMCO Income Strategy FD II | New | 0.01% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 121 | $613.3M | VTI, EWZ, RSX, VTWO, VALE |
| Q1 2026 | 117 | $398.6M | VTI, VTWO, VALE, ISHG, AMZN |
| Q4 2025 | 115 | $259.0M | VTI, EFA, VALE, PROSHARES TR, IEMG |
| Q3 2025 | 117 | $297.2M | VTI, EFA, VALE, BIL, PROSHARES TR |
| Q2 2025 | 83 | $511.1M | EWZ, SPY, EFA, BIL, MSFT |
| Q1 2025 | 81 | $372.3M | SPY, EFA, BIL, VALE, RSP |
| Q4 2024 | 84 | $383.9M | SPY, RSP, IWM, VALE, AMZN |
| Q3 2024 | 79 | $363.4M | SPY, RSP, VALE, IWM, MSFT |
| Q2 2024 | 74 | $392.0M | SPY, RSP, QQQ, VALE, MSFT |
| Q1 2024 | 74 | $393.2M | SPY, RSP, VALE, MSFT, AMZN |