VPR Management LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), VPR Management LLC reported 60 stock positions worth $213.0 million. Its top holding was Vanguard Ftse Developed ETF (VEA) at 14.1% of the portfolio, followed by iShares Gold Trust (IAU, 12.4%) and NT Mstar GLBL NR ETF (GUNR, 9.9%). Compared with Q1 2025, it opened 9 new positions, sold out of 4, added to 6 and reduced 3. The biggest buy was iShares MSCI Acwi ETF (ACWI, shares +12%) and the biggest sale iShares Gold Trust (IAU, shares −19%).

Most Recent 13F
Q2 2026
Location
HOUSTON, TX
CIK
0001894203
Portfolio Value
$213.0M (Q2 2025)
SEC Filing
0001894203-25-000004 ↗ filed Aug 14, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $360.4M Q1 2024 Q2 2024: $267.6M Q2 2024 Q3 2024: $287.0M Q3 2024 Q4 2024: $191.9M Q4 2024 Q1 2025: $205.9M Q1 2025 Q2 2025: $213.0M $213.0M Q2 2025 Q3 2025: $220.1M Q3 2025 Q4 2025: $224.5M Q4 2025 Q1 2026: $250.2M Q1 2026 Q2 2026: $249.0M Q2 2026

Holdings 60 stocks · $213.0M
VEA Vanguard Ftse Developed ETF 14.07% 525,600 $30.0M No change
IAU iShares Gold Trust 12.38% 422,930 $26.4M Reduce -18.7%
GUNR NT Mstar GLBL NR ETF 9.95% 528,203 $21.2M No change
EWC iShares MSCI Canada ETF 7.63% 351,800 $16.3M No change
EWZ iShares MSCI Brazil ETF 6.68% 493,400 $14.2M No change
VTI VG Morningstar TS MKT ETF-US 5.82% 40,800 $12.4M Add +5.2%
ACWI iShares MSCI Acwi ETF 5.63% 93,300 $12.0M Add +12.0%
VIG Vanguard Dividend Apprec ETF 5.06% 52,630 $10.8M No change
EMLC Vaneck JPM Em Local Curr BND 3.76% 316,200 $8.0M No change
IEMG iShares Core MSCI Emerging 3.57% 126,800 $7.6M No change
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 2.08% 322,600 $4.4M No change
GNR State Street SPDR S&P Global 1.97% 77,550 $4.2M No change
MELI MercadoLibre Inc. 1.83% 1,494 $3.9M No change
FCX Freeport-McMoran Inc. 1.65% 81,000 $3.5M No change
AGNC AGNC Investment Corp. 1.51% 350,000 $3.2M No change
ITUB Itau Unibanco H-Spon PRF ADR 1.36% 425,256 $2.9M No change
KOF Coca-Cola Femsa Sab-SP ADR 1.13% 24,789 $2.4M No change
EFV iShares MSCI Eafe Value ETF 1.06% 35,700 $2.3M No change
EWU iShares MSCI United Kingdom 1.04% 55,900 $2.2M No change
XOM Exxon Mobil Corp. 0.97% 19,200 $2.1M Add +308.5%
VWO Vanguard Ftse Emerging Marke 0.88% 37,700 $1.9M Reduce -72.6%
PBR.A Petroleo Brasil-SP Pref ADR 0.84% 154,260 $1.8M No change
PBR Petroleo Brasileiro-Spon ADR 0.78% 132,846 $1.7M No change
ABEV Ambev SA-ADR 0.70% 616,839 $1.5M No change
CVX Chevron Corp. 0.58% 8,700 $1.2M Add +135.1%
VALE Vale SA-SP ADR 0.56% 122,010 $1.2M Reduce -54.3%
RIO Rio Tinto PLC-Spon ADR 0.47% 17,000 $992K Add +750.0%
BHP BHP Group Ltd.-Spon ADR 0.45% 20,000 $962K Add +400.0%
BSBR Banco Santander Brasil-ADS 0.40% 157,930 $861K No change
VIV Telefonica Brasil-ADR 0.39% 72,375 $825K No change
XP XP Inc. Class A 0.35% 37,068 $749K No change
AXIAY Axia Energia-ADR filed as CENTRAIS ELETRICAS BRASILEIR 0.35% 100,104 $744K No change
XLE SS Energy Select Sector 0.32% 8,000 $678K No change
NLY Annaly Capital Management Inc. 0.31% 35,000 $659K No change
VDE Vanguard Energy ETF 0.30% 5,300 $631K No change
SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI 0.30% 28,680 $630K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.28% 3,350 $592K No change
BBD Banco Bradesco-ADR 0.27% 187,900 $581K No change
SUZ Suzano SA - Spon ADR 0.26% 58,835 $554K No change
TIMB Tim SA-ADR 0.19% 20,350 $409K No change
EMB iShares JP Morgan Usd Emergi 0.19% 4,300 $398K No change
STNE Stoneco Ltd. Class A 0.17% 22,040 $354K No change
SHEL Shell PLC-ADR 0.17% 5,000 $352K New
CIG Cia Energetica DE-Spon ADR 0.14% 147,547 $289K No change
ARCC Ares Capital Corp. 0.13% 12,500 $275K New
SCHP Schwab U.S. Tips ETF 0.13% 10,000 $267K No change
GGB Gerdau SA -Spon ADR 0.12% 86,242 $252K No change
COP Conocophillips 0.11% 2,700 $242K No change
MAIN Main Street Capital Corp. 0.11% 4,039 $239K New
FSK FS KKR Capital Corp. 0.10% 10,500 $218K New
OBDC Blue Owl Capital Corp. 0.10% 14,609 $209K New
TTE Totalenergies SE -Spon ADR 0.09% 3,000 $184K New
BRFS BRF SA-ADR 0.08% 46,008 $168K No change
UGP Ultrapar Particpac-Spon ADR 0.07% 46,700 $153K No change
OCSL Oaktree Specialty Lending Co. 0.05% 8,000 $109K New
CSANY Cosan SA -ADR 0.05% 19,080 $96K No change
SID Cia Siderurgica Nacl-SP ADR filed as COMPANHIA SIDERURGICA NACION 0.04% 55,740 $78K No change
BAK Braskem SA Class A- ADR 0.03% 17,230 $57K No change
CSWC Capital Southwest Corp. 0.03% 2,500 $55K New
CCAP Crescent Capital BDC Inc. 0.01% 2,000 $28K New

Portfolio Sells Q1 2025 → Q2 2025
IAU iShares Gold Trust Reduce -18.7% 12.38% −2.52
VWO Vanguard Ftse Emerging Marke Reduce -72.6% 0.88% −2.15
VNQ Vanguard Real Estate ETF Sold out 0.00% −1.74
VALE Vale SA-SP ADR Reduce -54.3% 0.56% −0.74
CNQ Canadian Natural Resources Sold out 0.00% −0.67
EWM iShares MSCI Malaysia ETF Sold out 0.00% −0.08
VNQI Vanguard GLBL Ex-US Real Est Sold out 0.00% −0.07

Portfolio Buys Q1 2025 → Q2 2025
ACWI iShares MSCI Acwi ETF Add +12.0% 5.63% +0.92
XOM Exxon Mobil Corp. Add +308.5% 0.97% +0.70
VTI VG Morningstar TS MKT ETF-US Add +5.2% 5.82% +0.64
RIO Rio Tinto PLC-Spon ADR Add +750.0% 0.47% +0.41
BHP BHP Group Ltd.-Spon ADR Add +400.0% 0.45% +0.36
CVX Chevron Corp. Add +135.1% 0.58% +0.28
SHEL Shell PLC-ADR New 0.17% +0.17
ARCC Ares Capital Corp. New 0.13% +0.13
MAIN Main Street Capital Corp. New 0.11% +0.11
FSK FS KKR Capital Corp. New 0.10% +0.10
OBDC Blue Owl Capital Corp. New 0.10% +0.10
TTE Totalenergies SE -Spon ADR New 0.09% +0.09
OCSL Oaktree Specialty Lending Co. New 0.05% +0.05
CSWC Capital Southwest Corp. New 0.03% +0.03
CCAP Crescent Capital BDC Inc. New 0.01% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 66$249.0MVEA, IAU, GUNR, EWC, VTI
Q1 2026 65$250.2MIAU, VEA, GUNR, EWC, EWZ
Q4 2025 63$224.5MVEA, IAU, GUNR, EWC, EWZ
Q3 2025 60$220.1MVEA, IAU, GUNR, EWC, EWZ
Q2 2025 60$213.0MVEA, IAU, GUNR, EWC, EWZ
Q1 2025 55$205.9MIAU, VEA, GUNR, EWC, EWZ
Q4 2024 55$191.9MIAU, VEA, GUNR, EWC, VTI
Q3 2024 56$287.0MVEA, VTI, VWO, IAU, VIG
Q2 2024 51$267.6MVEA, VTI, IAU, VWO, VIG
Q1 2024 54$360.4MVEA, VWO, VTI, VIG, IAU