Vinland Capital Management Gestora de Recursos LTDA.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed February 23, 2026), Vinland Capital Management Gestora de Recursos LTDA. reported 1 stock position worth $724 thousand. Its top holding was MercadoLibre (MELI) at 100.0% of the portfolio. Compared with Q1 2025, it added to 1. The biggest buy was MercadoLibre (MELI, shares −0%).

Most Recent 13F
Q2 2026
Location
SAO PAULO, D5
CIK
0001944332
Portfolio Value
$724K (Q2 2025)
SEC Filing
0001944332-26-000003 ↗ filed Feb 23, 2026

Holdings Value

0$50.0M$100.0M$150.0M Q1 2024: $120.2M Q1 2024 Q2 2024: $67.4M Q2 2024 Q3 2024: $26.2M Q3 2024 Q4 2024: $20.3M Q4 2024 Q1 2025: $3.8M Q1 2025 Q2 2025: $724K $724K Q2 2025 Q3 2025: $7.8M Q3 2025 Q4 2025: $8.2M Q4 2025 Q1 2026: $6.1M Q1 2026 Q2 2026: $10.1M Q2 2026

Holdings 1 stocks · $724K
MELI MercadoLibre Inc. 100.00% 51 $724K Add +0.0%

Options reported separately and not counted above: SPY puts ($12.4M).

Portfolio Sells Q1 2025 → Q2 2025
None this quarter.

Portfolio Buys Q1 2025 → Q2 2025
MELI MercadoLibre Inc. Add +0.0% 100.00% +100.00

Options Activity Q1 2025 → Q2 2025
SPY SS SPDR S&P 500 ETF Trust-US put Reduce -99.8% 200 $12.4M
TIP iShares Tips Bond ETF call Reduce -100.0% 0 $0
TIP iShares Tips Bond ETF put Reduce -100.0% 0 $0
XP XP Inc. Class A put Reduce -100.0% 0 $0
ASHR Xtrackers Harvest Csi 300 CH call Sold out 0 $0before exit
EWZ iShares MSCI Brazil ETF put Sold out 0 $0before exit
EWZ iShares MSCI Brazil ETF call Sold out 0 $0before exit
IBIT iShares Bitcoin Trust ETF call Sold out 0 $0before exit
ITUB Itau Unibanco H-Spon PRF ADR call Sold out 0 $0before exit
ITUB Itau Unibanco H-Spon PRF ADR 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 Q1 2025 → Q2 2025
TIMB Tim SA-ADR SPONSORED ADR Reduce -100.0% 0 $0
ABEV Ambev SA-ADR SPONSORED ADR Reduce -100.0% 0 $0
AXICY Centrais Eletricas Brasileir SPON ADR PFD B Reduce -100.0% 0 $0
NVDA Nvidia Corp. COM Reduce -100.0% 0 $0
RIO Rio Tinto PLC-Spon ADR SPONSORED ADR Reduce -100.0% 0 $0
PBR.A Petroleo Brasil-SP Pref ADR SP ADR NON VTG Reduce -100.0% 0 $0
CIG.C Cia Energetica DE-Spon ADR SPONSORED ADR Reduce -100.0% 0 $0
BBD Banco Bradesco-ADR SP ADR PFD NEW Reduce -100.0% 0 $0
AXIAY Axia Energia-ADR SPONSORED ADR Sold out 0 $0before exit
EWZ iShares MSCI Brazil ETF MSCI BRAZIL ETF Sold out 0 $0before exit
TIP iShares Tips Bond ETF TIPS BD ETF Sold out 0 $0before exit
ITUB Itau Unibanco H-Spon PRF ADR SPON ADR REP PFD Sold out 0 $0before exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 10$10.1MSPY, TX, ITUB, BUD, VALE
Q1 2026 6$6.1MSPY, STNE, DLO, XLE, BBD
Q4 2025 40$8.2MXME, VALE, SPY, NU, EMXC
Q3 2025 36$7.8MNU, KWEB, AUGO, ITA, XLE
Q2 2025 1$724KMELI
Q1 2025 8$3.8MTIMB, ABEV, AXICY, NVDA, RIO
Q4 2024 5$20.3MTIP, ITUB, EWZ, AXIAY, MELI
Q3 2024 27$26.2MITUB, PYPL, A, TGT, SHW
Q2 2024 31$67.4MITUB, AAPL, AMZN, TJX, ROST
Q1 2024 43$120.2MSPY, PBR, VALE, GS, NVDA