Vinland Capital Management Gestora de Recursos LTDA.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed February 23, 2026), Vinland Capital Management Gestora de Recursos LTDA. reported 36 stock positions worth $7.8 million. Its top holding was Nu Holdings Ltd./Cayman Isl-A (NU) at 7.6% of the portfolio, followed by Kranesh Csi China Internet (KWEB, 6.4%) and Aura Minerals (AUGO, 4.6%). Compared with Q2 2025, it opened 36 new positions. The biggest buy was a new position in Nu Holdings Ltd./Cayman Isl-A (NU).

Most Recent 13F
Q2 2026
Location
SAO PAULO, D5
CIK
0001944332
Portfolio Value
$7.8M (Q3 2025)
SEC Filing
0001944332-26-000004 ↗ 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 Q2 2025 Q3 2025: $7.8M $7.8M Q3 2025 Q4 2025: $8.2M Q4 2025 Q1 2026: $6.1M Q1 2026 Q2 2026: $10.1M Q2 2026

Holdings 36 stocks · $7.8M
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 7.59% 31,559 $588K New
KWEB Kranesh Csi China Internet 6.36% 11,734 $493K New
AUGO Aura Minerals Inc. 4.55% 9,487 $353K New
ITA iShares U.S. Aerospace & Def 3.94% 1,460 $306K New
XLE SS Energy Select Sector 3.92% 3,400 $304K New
GLW Corning Inc. 2.61% 2,470 $203K New
KTOS Kratos Defense & Security 2.61% 2,215 $202K New
NEM Newmont Corp. 2.51% 2,309 $195K New
CDE Coeur Mining Inc. 2.50% 10,313 $193K New
RBLX Roblox Corp. Class A 2.46% 1,377 $191K New
CIEN Ciena Corp. 2.45% 1,302 $190K New
GE General Electric filed as GE AEROSPACE 2.44% 630 $190K New
TSM Taiwan Semiconductor-SP ADR 2.44% 676 $189K New
JPM JPMorgan Chase & Co. 2.43% 597 $188K New
AMX America Movil Sab DE CV 2.43% 8,954 $188K New
MPC Marathon Petroleum Corp. 2.42% 975 $188K New
GD General Dynamics Corp. 2.40% 545 $186K New
CAT Caterpillar Inc. 2.39% 389 $186K New
JNJ Johnson & Johnson 2.36% 986 $183K New
BAC Bank of America Corp. filed as BANK AMERICA CORP 2.35% 3,534 $182K New
GOOGL Alphabet Inc. Class A 2.35% 748 $182K New
WYNN WYNN Resorts Ltd. 2.34% 1,415 $182K New
MLI Mueller Industries Inc. 2.34% 1,795 $181K New
PLTR Palantir Technologies Inc. Class A 2.33% 990 $181K New
CVS CVS Health Corp. 2.33% 2,395 $181K New
APTV Aptiv PLC 2.33% 2,093 $180K New
EWY iShares MSCI South Korea ETF 2.32% 2,250 $180K New
NVT Nvent Electric PLC 2.32% 1,822 $180K New
WMT Walmart Inc. 2.31% 1,738 $179K New
ACM Aecom 2.30% 1,367 $178K New
ITT Itt Inc. 2.29% 991 $177K New
FFIV F5 Inc. 2.28% 548 $177K New
ROKU Roku Inc. 2.28% 1,767 $177K New
NET Cloudflare Inc. Class A 2.27% 820 $176K New
TIGO Millicom Intl Cellular S.A. 2.25% 3,600 $175K New
JLL Jones Lang Lasalle Inc. 2.20% 572 $171K New

Portfolio Sells Q2 2025 → Q3 2025
None this quarter.

Portfolio Buys Q2 2025 → Q3 2025
NU Nu Holdings Ltd./Cayman Isl-A New 7.59% +7.59
KWEB Kranesh Csi China Internet New 6.36% +6.36
AUGO Aura Minerals Inc. New 4.55% +4.55
ITA iShares U.S. Aerospace & Def New 3.94% +3.94
XLE SS Energy Select Sector New 3.92% +3.92
GLW Corning Inc. New 2.61% +2.61
KTOS Kratos Defense & Security New 2.61% +2.61
NEM Newmont Corp. New 2.51% +2.51
CDE Coeur Mining Inc. New 2.50% +2.50
RBLX Roblox Corp. Class A New 2.46% +2.46
CIEN Ciena Corp. New 2.45% +2.45
GE General Electric New 2.44% +2.44
TSM Taiwan Semiconductor-SP ADR New 2.44% +2.44
JPM JPMorgan Chase & Co. New 2.43% +2.43
AMX America Movil Sab DE CV New 2.43% +2.43
MPC Marathon Petroleum Corp. New 2.42% +2.42
GD General Dynamics Corp. New 2.40% +2.40
CAT Caterpillar Inc. New 2.39% +2.39
JNJ Johnson & Johnson New 2.36% +2.36
BAC Bank of America Corp. New 2.35% +2.35
GOOGL Alphabet Inc. Class A New 2.35% +2.35
WYNN WYNN Resorts Ltd. New 2.34% +2.34
MLI Mueller Industries Inc. New 2.34% +2.34
PLTR Palantir Technologies Inc. Class A New 2.33% +2.33
CVS CVS Health Corp. New 2.33% +2.33
APTV Aptiv PLC New 2.33% +2.33
EWY iShares MSCI South Korea ETF New 2.32% +2.32
NVT Nvent Electric PLC New 2.32% +2.32
WMT Walmart Inc. New 2.31% +2.31
ACM Aecom New 2.30% +2.30
ITT Itt Inc. New 2.29% +2.29
FFIV F5 Inc. New 2.28% +2.28
ROKU Roku Inc. New 2.28% +2.28
NET Cloudflare Inc. Class A New 2.27% +2.27
TIGO Millicom Intl Cellular S.A. New 2.25% +2.25
JLL Jones Lang Lasalle Inc. New 2.20% +2.20

Options Activity Q2 2025 → Q3 2025
SPY SS SPDR S&P 500 ETF Trust-US put Reduce -100.0% 0 $0
TIP iShares Tips Bond ETF call Sold out 0 $0before exit
TIP iShares Tips Bond ETF 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 2025 → Q3 2025
MELI MercadoLibre Inc. COM Reduce -100.0% 0 $0
ABEV Ambev SA-ADR SPONSORED ADR Sold out 0 $0before exit
BBD Banco Bradesco-ADR SP ADR PFD NEW Sold out 0 $0before exit
AXICY Centrais Eletricas Brasileir SPON ADR PFD B Sold out 0 $0before exit
CIG.C Cia Energetica DE-Spon ADR SPONSORED ADR Sold out 0 $0before exit
NVDA Nvidia Corp. COM Sold out 0 $0before exit
PBR.A Petroleo Brasil-SP Pref ADR SP ADR NON VTG Sold out 0 $0before exit
RIO Rio Tinto PLC-Spon ADR SPONSORED ADR Sold out 0 $0before exit
TIMB Tim SA-ADR SPONSORED ADR 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