TB Capital Gestao de Recursos Ltda. — 13F Holdings & Portfolio
CIK 2077092 · latest 13F-HR filed 2026-08-14
TB Capital Gestao de Recursos Ltda. manages $182.7M in 13F-reported U.S. long-equity assets across 19 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are BKNG (12.44%), ABNB (10.15%), NU (9.19%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 4 new positions, exited 2, added to 8, and trimmed 6.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$182.7M
Long-equity book
19
Distinct positions
2026-06-30
Filed 2026-08-14
+4 / −2 / ↑8 / ↓6
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
| Name | Title / Status | Ownership | Type |
|---|
Quarter-over-quarter changes
Share-count changes vs the prior 13F.
Top Adds (vs prior quarter)
- BOOKING HOLDINGS INC$5.0M +28.3%
- VISA INC$4.3M +69.8%
- NU HLDGS LTD$4.2M +33.2%
- DLOCAL LTD$4.0M +38.5%
- COUPANG INC$3.1M +32.6%
Top Trims
- AIRBNB INC-$5.8M -23.7%
- APOLLO GLOBAL MGMT INC-$1.5M -11.4%
- MICROSOFT CORP-$1.4M -13.9%
- TAIWAN SEMICONDUCTOR MFG LTD-$1.0M -16.4%
- ADOBE INC-$986.7K -17.1%
New Positions
- S&P GLOBAL INC$10.6M
- MERCADOLIBRE INC$5.7M
- SPOTIFY TECHNOLOGY S A$2.1M
- ALPHABET INC$6.4K
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | BOOKING HOLDINGS INC | BKNG | 09857L108 | $22.7M | 12.44% | 127,517 | SH |
| 2 | AIRBNB INC | ABNB | 009066101 | $18.5M | 10.15% | 129,575 | SH |
| 3 | NU HLDGS LTD | NU | G6683N103 | $16.8M | 9.19% | 1,256,844 | SH |
| 4 | DLOCAL LTD | DLO | G29018101 | $14.5M | 7.91% | 1,112,612 | SH |
| 5 | SAP SE | SAP | 803054204 | $14.2M | 7.75% | 91,841 | SH |
| 6 | COUPANG INC | CPNG | 22266T109 | $12.5M | 6.82% | 717,205 | SH |
| 7 | APOLLO GLOBAL MGMT INC | APO | 03769M106 | $11.6M | 6.34% | 97,952 | SH |
| 8 | S&P GLOBAL INC | SPGI | 78409V104 | $10.6M | 5.80% | 26,027 | SH |
| 9 | VISA INC | V | 92826C839 | $10.5M | 5.76% | 30,693 | SH |
| 10 | MICROSOFT CORP | MSFT | 594918104 | $8.9M | 4.88% | 23,926 | SH |
| 11 | MASTERCARD INCORPORATED | MA | 57636Q104 | $8.9M | 4.87% | 17,329 | SH |
| 12 | META PLATFORMS INC | META | 30303M102 | $7.4M | 4.03% | 13,081 | SH |
| 13 | MERCADOLIBRE INC | MELI | 58733R102 | $5.7M | 3.12% | 3,360 | SH |
| 14 | TAIWAN SEMICONDUCTOR MFG LTD | TSM | 874039100 | $5.3M | 2.91% | 11,138 | SH |
| 15 | ADOBE INC | ADBE | 00724F101 | $4.8M | 2.61% | 23,269 | SH |
| 16 | AMAZON COM INC | AMZN | 023135106 | $4.7M | 2.57% | 19,680 | SH |
| 17 | ALPHABET INC | GOOG | 02079K107 | $3.1M | 1.70% | 8,792 | SH |
| 18 | SPOTIFY TECHNOLOGY S A | SPOT | L8681T102 | $2.1M | 1.13% | 4,503 | SH |
| 19 | ALPHABET INC | GOOGL | 02079K305 | $6.4K | 0.00% | 18 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | $182.7M | 19 | 0001213900-26-089611 |
| 2026-03-31 | 2026-05-15 | $163.5M | 17 | 0001213900-26-057309 |
| 2025-12-31 | 2026-02-17 | $167.7M | 15 | 0001213900-26-017452 |
| 2025-09-30 | 2025-11-14 | $130.1M | 17 | 0001213900-25-110461 |
1079/708
RIO DE JANEIRO 22440-034