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Milestones Administradora de Recursos Ltda.

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13F filer, CIK 1912095, JARAGUA DO SUL, Brazil

Milestones Administradora de Recursos Ltda. reported $285,655,145 across 18 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-10-31. Its ten largest share positions make up 93.53% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001912095-25-000009

Period
2025-09-30
Reported value
$286M
Holdings
18
Top 10 weight
93.53%
New
0
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
NUadded+383,614$6.14M
AMDadded+17,660$2.86M
MLKMFadded+225,677$447K
WALDWadded+97,416$3.6K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
GOOGLreduced-56,054-$13.6M
AMZNreduced-39,127-$8.59M
MCOreduced-12,702-$6.05M
MSFTreduced-9,897-$5.13M
TSMreduced-17,464-$4.88M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001912095-25-000009, largest first. % of portfolio is the value over $285,655,145, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 285,455 shares; 2024Q4: 238,435 shares; 2025Q1: 263,715 shares; 2025Q2: 256,650 shares; 2025Q3: 217,523 shares 217,523$47.8M16.72%-39,127Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 121,097 shares; 2024Q4: 97,792 shares; 2025Q1: 100,922 shares; 2025Q2: 98,972 shares; 2025Q3: 89,075 shares 89,075$46.1M16.15%-9,897Timeline
GEGE AEROSPACEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 61,860 shares; 2024Q4: 61,860 shares; 2025Q1: 61,860 shares; 2025Q2: 146,725 shares; 2025Q3: 146,725 shares 146,725$44.1M15.45%0Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 53,890 shares; 2024Q4: 44,040 shares; 2025Q1: 50,140 shares; 2025Q2: 155,500 shares; 2025Q3: 138,036 shares 138,036$38.6M13.5%-17,464Timeline
NUNU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,037,500 shares; 2024Q4: 1,384,000 shares; 2025Q1: 1,384,000 shares; 2025Q2: 1,484,000 shares; 2025Q3: 1,867,614 shares 1,867,614$29.9M10.47%+383,614Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 146,525 shares; 2024Q4: 100,975 shares; 2025Q1: 100,975 shares; 2025Q2: 146,272 shares; 2025Q3: 90,218 shares 90,218$21.9M7.68%-56,054Timeline
MELIMERCADOLIBRE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 757 shares; 2024Q4: 3,714 shares; 2025Q1: 3,261 shares; 2025Q2: 7,151 shares; 2025Q3: 7,151 shares 7,151$16.7M5.85%0Timeline
DHRDANAHER CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,500 shares; 2024Q4: 3,500 shares; 2025Q1: 9,350 shares; 2025Q2: 43,370 shares; 2025Q3: 43,370 shares 43,370$8.6M3.01%0Timeline
LINLINDE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,400 shares; 2024Q4: 6,400 shares; 2025Q1: 7,520 shares; 2025Q2: 14,850 shares; 2025Q3: 14,850 shares 14,850$7.05M2.47%0Timeline
AMDADVANCED MICRO DEVICES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 8,400 shares; 2025Q1: 21,840 shares; 2025Q2: 21,840 shares; 2025Q3: 39,500 shares 39,500$6.39M2.24%+17,660Timeline
MLKMFWALDENCAST PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,200,000 shares; 2024Q4: 2,200,000 shares; 2025Q1: 2,200,000 shares; 2025Q2: 2,200,000 shares; 2025Q3: 2,425,677 shares 2,425,677$4.8M1.68%+225,677Timeline
SPGIS&P GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,330 shares; 2024Q4: 4,145 shares; 2025Q1: 6,355 shares; 2025Q2: 6,355 shares; 2025Q3: 6,355 shares 6,355$3.09M1.08%0Timeline
MCOMOODYS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,480 shares; 2024Q4: 2,680 shares; 2025Q1: 6,055 shares; 2025Q2: 19,055 shares; 2025Q3: 6,353 shares 6,353$3.03M1.06%-12,702Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,560 shares; 2024Q4: 15,810 shares; 2025Q1: 15,810 shares; 2025Q2: 7,905 shares; 2025Q3: 7,905 shares 7,905$2.7M0.94%0Timeline
CVXCHEVRON CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 47,610 shares; 2024Q4: 30,340 shares; 2025Q1: 30,340 shares; 2025Q2: 30,340 shares; 2025Q3: 15,170 shares 15,170$2.36M0.82%-15,170Timeline
COPCONOCOPHILLIPSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 30,470 shares; 2025Q2: 30,470 shares; 2025Q3: 15,235 shares 15,235$1.44M0.5%-15,235Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,080 shares; 2024Q4: 2,080 shares; 2025Q1: 2,080 shares; 2025Q2: 2,080 shares; 2025Q3: 2,080 shares 2,080$1.05M0.37%0Timeline
WALDWWALDENCAST PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 342,999 shares; 2024Q4: 342,999 shares; 2025Q1: 342,999 shares; 2025Q2: 342,999 shares; 2025Q3: 440,415 shares 440,415$16.3K0.01%+97,416Timeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
MAMASTERCARD INCORPORATED2,035$1.14Mshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001912095-25-000009 base2025-10-31acceptance time not in the bulk data set