Vinland Capital Management Gestora de Recursos LTDA. In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 28, 2024), Vinland Capital Management Gestora de Recursos LTDA. reported 27 stock positions worth $26.2 million . Its top holding was Itau Unibanco H-Spon PRF ADR (ITUB) at 19.0% of the portfolio, followed by PayPal (PYPL, 3.9% ) and Agilent Technologies (A, 3.8% ). Compared with Q2 2024, it opened 12 new positions, added to 3 and reduced 11. The biggest buy was Itau Unibanco H-Spon PRF ADR (ITUB, shares +10% ) and the biggest sale Apple (AAPL, shares −83% ).
Location SAO PAULO, D5
CIK 0001944332
Portfolio Value $26.2M (Q3 2024) Holdings 27 stocks · $26.2M 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 ITUB Itau Unibanco H-Spon PRF ADR 749,829 $5.0M Add +10.4% PYPL PayPal Holdings Inc. 13,275 $1.0M New A Agilent Technologies Inc. 6,700 $995K New TGT Target Corp. 6,280 $979K New SHW The Sherwin-Williams Co. 2,495 $952K New ZTS Zoetis Inc. 4,865 $951K Reduce -61.0% FTNT Fortinet Inc. 12,090 $938K New MCO Moody's Corp. 1,925 $914K Reduce -62.8% KMB Kimberly-Clark Corp. 6,405 $911K New MRK Merck & Co. Inc. 7,990 $907K New JNJ Johnson & Johnson 5,540 $898K Reduce -61.2% CBOE Cboe Global Markets Inc. 4,370 $895K Reduce -62.9% META Meta Platforms Inc. Class A 1,485 $850K Reduce -67.4% ETN Eaton Corp. PLC 2,550 $845K New AMAT Applied Materials Inc. 4,145 $837K New TT Trane Technologies PLC 2,150 $836K Reduce -67.1% GOOGL Alphabet Inc. Class A 5,015 $832K Reduce -58.9% PH Parker Hannifin Corp. 1,295 $818K New NFLX Netflix Inc. 1,115 $791K Reduce -67.6% AAPL Apple Inc. 3,390 $790K Reduce -83.0% AMZN Amazon.com Inc. 4,180 $779K Reduce -79.1% MSI Motorola Solutions Inc. 1,730 $778K Reduce -70.4% MSFT Microsoft Corp. 1,800 $775K Add +38.5% VALE Vale SA-SP ADR 60,523 $707K Add +0.0% PPC Pilgrim's Pride Corp. 14,800 $682K No change STNE Stoneco Ltd. Class A 47,900 $539K New ELP Companhia Paranaense DE Ener 924 $7K New
Options reported separately and not counted above: KWEB calls ($6.8M), ITUB puts ($5.0M), NU puts ($2.7M), EWZ puts ($1.8M).
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 ▲ AAPL Apple Inc. Reduce -83.0% 3.01% −3.24 AMZN Amazon.com Inc. Reduce -79.1% 2.97% −2.76 NFLX Netflix Inc. Reduce -67.6% 3.02% −0.43 MSI Motorola Solutions Inc. Reduce -70.4% 2.97% −0.38 META Meta Platforms Inc. Class A Reduce -67.4% 3.24% −0.17 GOOGL Alphabet Inc. Class A Reduce -58.9% 3.17% −0.12 TT Trane Technologies PLC Reduce -67.1% 3.19% +0.00 MCO Moody's Corp. Reduce -62.8% 3.48% +0.25 JNJ Johnson & Johnson Reduce -61.2% 3.42% +0.33 ZTS Zoetis Inc. Reduce -61.0% 3.62% +0.42 CBOE Cboe Global Markets Inc. Reduce -62.9% 3.41% +0.44
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 ▼ ITUB Itau Unibanco H-Spon PRF ADR Add +10.4% 19.01% +12.03 PYPL PayPal Holdings Inc. New 3.95% +3.95 A Agilent Technologies Inc. New 3.79% +3.79 TGT Target Corp. New 3.73% +3.73 SHW The Sherwin-Williams Co. New 3.63% +3.63 FTNT Fortinet Inc. New 3.57% +3.57 KMB Kimberly-Clark Corp. New 3.47% +3.47 MRK Merck & Co. Inc. New 3.46% +3.46 ETN Eaton Corp. PLC New 3.22% +3.22 AMAT Applied Materials Inc. New 3.19% +3.19 PH Parker Hannifin Corp. New 3.12% +3.12 VALE Vale SA-SP ADR Add +0.0% 2.70% +2.70 MSFT Microsoft Corp. Add +38.5% 2.95% +2.09 STNE Stoneco Ltd. Class A New 2.06% +2.06 ELP Companhia Paranaense DE Ener New 0.03% +0.03
Options Activity Q2 2024 → Q3 2024 Security Type Change vs Q2 2024 Underlying Shares Value ▼ KWEB Kranesh Csi China Internet call New 200,300 $6.8M ITUB Itau Unibanco H-Spon PRF ADR put Add +6.4% 751,400 $5.0M NU Nu Holdings Ltd./Cayman Isl-A put New 200,000 $2.7M EWZ iShares MSCI Brazil ETF put Reduce -97.6% 60,000 $1.8M EWZ iShares MSCI Brazil ETF call Reduce -100.0% 0 $0 CDNS Cadence Design SYS Inc. call Sold out 0 $0before exit IWM iShares Russell 2000 ETF call Sold out 0 $0before exit NVDA Nvidia Corp. call Sold out 0 $0before exit PBR Petroleo Brasileiro-Spon ADR call Sold out 0 $0before exit PBR Petroleo Brasileiro-Spon ADR put Sold out 0 $0before exit KRE SS SPDR S&P Regional Bank call Sold out 0 $0before exit SGML Sigma Lithium Corp. call Sold out 0 $0before exit VALE Vale SA-SP ADR call Sold out 0 $0before exit VALE Vale SA-SP ADR put Sold out 0 $0before exit XP XP Inc. Class A put Sold out 0 $0before exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2024 → Q3 2024 Security Class Change vs Q2 2024 Shares / Principal Value ▼ TJX TJX Companies Inc. COM Reduce -100.0% 0 $0 ROST Ross Stores Inc. COM Reduce -100.0% 0 $0 EA Electronic Arts Inc. COM Reduce -100.0% 0 $0 HON Honeywell International Inc. COM Reduce -100.0% 0 $0 COST Costco Wholesale Corp. COM Reduce -100.0% 0 $0 NVDA Nvidia Corp. COM Reduce -100.0% 0 $0 CTAS Cintas Corp. COM Reduce -100.0% 0 $0 KO The Coca-Cola Co. COM Reduce -100.0% 0 $0 FFIV F5 Inc. COM Reduce -100.0% 0 $0 PG The Procter & Gamble Co. COM Reduce -100.0% 0 $0 ITW Illinois Tool Works COM Reduce -100.0% 0 $0 CAT Caterpillar Inc. COM Reduce -100.0% 0 $0 V Visa Inc. Class A COM CL A Reduce -100.0% 0 $0 IDXX Idexx Laboratories Inc. COM Reduce -100.0% 0 $0 HAL Halliburton Co. COM Reduce -100.0% 0 $0 MELI MercadoLibre Inc. COM Reduce -100.0% 0 $0 MRDB Mariadb PLC ORD SHS Reduce -100.0% 0 $0 CDNS Cadence Design SYS Inc. COM Sold out 0 $0before exit CSCO Cisco Systems Inc. COM Sold out 0 $0before exit CL Colgate-Palmolive Co. COM Sold out 0 $0before exit FICO Fair Isaac Corp. COM Sold out 0 $0before exit FAST Fastenal Co. COM Sold out 0 $0before exit IT Gartner Inc. COM Sold out 0 $0before exit GILD Gilead Sciences Inc. COM Sold out 0 $0before exit GS Goldman Sachs Group Inc. COM Sold out 0 $0before exit GWW WW Grainger Inc. COM Sold out 0 $0before exit LLY Eli Lilly & Co. COM Sold out 0 $0before exit LISTED FD TR OPPORTUNISTIC TR Sold out 0 $0before exit LMT Lockheed Martin Corp. COM Sold out 0 $0before exit LULU Lululemon Athletica Inc. COM Sold out 0 $0before exit PAYX Paychex Inc. COM Sold out 0 $0before exit PBR.A Petroleo Brasil-SP Pref ADR SP ADR NON VTG Sold out 0 $0before exit PBR Petroleo Brasileiro-Spon ADR SPONSORED ADR Sold out 0 $0before exit SPY SS SPDR S&P 500 ETF Trust-US TR UNIT Sold out 0 $0before exit SLB SLB Ltd. COM STK Sold out 0 $0before exit SNA Snap-on Inc. COM Sold out 0 $0before exit SNPS Synopsys Inc. COM Sold out 0 $0before exit TSM Taiwan Semiconductor-SP ADR SPONSORED ADS Sold out 0 $0before exit GDX Vaneck Gold Miners ETF GOLD MINERS ETF Sold out 0 $0before exit VRSK Verisk Analytics Inc. COM Sold out 0 $0before exit XP XP Inc. Class A CL A Sold out 0 $0before exit
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 10 $10.1M SPY, TX, ITUB, BUD, VALE Q1 2026 6 $6.1M SPY, STNE, DLO, XLE, BBD Q4 2025 40 $8.2M XME, VALE, SPY, NU, EMXC Q3 2025 36 $7.8M NU, KWEB, AUGO, ITA, XLE Q2 2025 1 $724K MELI Q1 2025 8 $3.8M TIMB, ABEV, AXICY, NVDA, RIO Q4 2024 5 $20.3M TIP, ITUB, EWZ, AXIAY, MELI Q3 2024 27 $26.2M ITUB, PYPL, A, TGT, SHW Q2 2024 31 $67.4M ITUB, AAPL, AMZN, TJX, ROST Q1 2024 43 $120.2M SPY, PBR, VALE, GS, NVDA