Skip to content
Disclosery

TB Capital Gestao de Recursos Ltda.

Follow

13F filer, CIK 2077092, Rio de Janeiro, Brazil

TB Capital Gestao de Recursos Ltda. reported $167,740,747 across 15 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 81.87% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001213900-26-017452

Period
2025-12-31
Reported value
$168M
Holdings
15
Top 10 weight
81.87%
New
2
Sold out
4

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ABNBadded+89,834$12.2M
ADBEnew+29,779$10.4M
MSFTadded+14,569$7.05M
CPNGadded+271,783$6.41M
MERCADOLIBRE INCnew+2,957$5.96M

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
STNEexited-485,757-$9.19M
XPexited-478,740-$9M
TSMreduced-21,334-$6.48M
JDexited-59,235-$2.07M
DASHexited-4,873-$1.33M

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 0001213900-26-017452, largest first. % of portfolio is the value over $167,740,747, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ABNBAIRBNB INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: 85,269 shares; 2025Q3: 134,226 shares; 2025Q4: 224,060 shares 224,060$30.4M18.13%+89,834Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: 88,153 shares; 2025Q3: 82,585 shares; 2025Q4: 61,251 shares 61,251$18.6M11.1%-21,334Timeline
APOAPOLLO GLOBAL MGMT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: 65,228 shares; 2025Q3: 95,253 shares; 2025Q4: 101,757 shares 101,757$14.7M8.78%+6,504Timeline
CPNGCOUPANG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: 237,474 shares; 2025Q3: 290,390 shares; 2025Q4: 562,173 shares 562,173$13.3M7.91%+271,783Timeline
DLODLOCAL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: 641,185 shares; 2025Q3: 725,713 shares; 2025Q4: 923,768 shares 923,768$13.1M7.79%+198,055Timeline
BKNGBOOKING HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: 1,931 shares; 2025Q3: 2,417 shares; 2025Q4: 2,346 shares 2,346$12.6M7.49%-71Timeline
ADBEADOBE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 29,779 shares 29,779$10.4M6.21%newTimeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: 3,878 shares; 2025Q3: 4,602 shares; 2025Q4: 19,171 shares 19,171$9.27M5.53%+14,569Timeline
NUNU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: 59,651 shares; 2025Q3: 350,034 shares; 2025Q4: 493,152 shares 493,152$8.26M4.92%+143,118Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: 2,296 shares; 2025Q3: 3,599 shares; 2025Q4: 10,205 shares 10,205$6.74M4.02%+6,606Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: 7,974 shares; 2025Q3: 10,874 shares; 2025Q4: 18,761 shares 18,761$6.58M3.92%+7,887Timeline
MAMASTERCARD INCORPORATEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: 7,953 shares; 2025Q3: 8,203 shares; 2025Q4: 11,180 shares 11,180$6.38M3.8%+2,977Timeline
MERCADOLIBRE INCMERCADOLIBRE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 2,957 shares 2,957$5.96M3.55%new
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: 13,064 shares; 2025Q3: 9,829 shares; 2025Q4: 18,714 shares 18,714$5.87M3.5%+8,885Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: 6,565 shares; 2025Q3: 10,421 shares; 2025Q4: 24,365 shares 24,365$5.62M3.35%+13,944Timeline

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
STNESTONECO LTD485,757$9.19Mshares
XPXP INC478,740$9Mshares
JDJD.COM INC59,235$2.07Mshares
DASHDOORDASH INC4,873$1.33Mshares

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 0001213900-26-017452 base2026-02-17acceptance time not in the bulk data set