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Pangea Capital Gestao de Recursos Ltda.

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13F filer, CIK 2119167, RIO DE JANEIRO, Brazil

Pangea Capital Gestao de Recursos Ltda. reported $123,608,144 across 9 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-08-17.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001398344-26-014739

Period
2025-12-31
Reported value
$124M
Holdings
9
Top 10 weight
100%
New
2
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BRK-Badded+9,000$4.52M
MELInew+1,800$3.63M
METAadded+2,100$1.39M
RICKnew+5,900$141K

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
EWZreduced-73,000-$2.32M
BCexited-4,900-$310K

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, Q4 2025

Share positions as resolved from 13F-HR 0001398344-26-014739, largest first. % of portfolio is the value over $123,539,394, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 228,378 shares; 2024Q4: 226,378 shares; 2025Q1: 171,928 shares; 2025Q2: 160,007 shares; 2025Q3: 162,007 shares; 2025Q4: 171,007 shares 171,007$86M69.58%+9,000Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 79,221 shares; 2024Q4: 79,221 shares; 2025Q1: 79,221 shares; 2025Q2: 89,221 shares; 2025Q3: 89,221 shares; 2025Q4: 89,221 shares 89,221$20.6M16.67%0Timeline
BRK-ABERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12 shares; 2024Q4: 12 shares; 2025Q1: 12 shares; 2025Q2: 12 shares; 2025Q3: 12 shares; 2025Q4: 12 shares 12$9.06M7.33%0Timeline
MELIMERCADOLIBRE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,800 shares 1,800$3.63M2.93%newTimeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 900 shares; 2025Q3: 900 shares; 2025Q4: 3,000 shares 3,000$1.98M1.6%+2,100Timeline
EWZISHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,000 shares; 2024Q4: 87,000 shares; 2025Q1: 121,000 shares; 2025Q2: 135,000 shares; 2025Q3: 135,000 shares; 2025Q4: 62,000 shares 62,000$1.97M1.59%-73,000Timeline
LGIHLGI HOMES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 5,000 shares; 2025Q2: 5,000 shares; 2025Q3: 5,000 shares; 2025Q4: 5,000 shares 5,000$215K0.17%0Timeline
RICKRCI HOSPITALITY HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,900 shares; 2025Q3: not reported; 2025Q4: 5,900 shares 5,900$141K0.11%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
ISHARES INCISHARES INC CALLcall220$68.8K0

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
BCBRUNSWICK CORP4,900$310Kshares

How Q4 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 0001398344-26-014739 base2026-08-17acceptance time not in the bulk data set