Managers / Q1 2020 · view latest →
Dynamo Administracao de Recursos Ltda.
CIK 0001707096 · AV. ATAULFO DE PAIVA, N. 1235, 6TH FLOOR, LEBLON, RIO DE JANEIRO, D5, 22440-034 · 55.21.2512-9394
Summary
Dynamo Administracao De Recursos Ltda. reported $346M in U.S.-listed holdings across 9 positions for Q1 2020.
The portfolio is heavily concentrated: XP alone accounts for 34.0% of reported value.
Compared with Q4 2019, the fund opened 3 new positions and exited 1.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 56.9% · $197M
- Other · 26.9% · $93M
- ADR · 16.2% · $56M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2019 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| NATURA &CO HOLDING-ADR | NEW | +3.50M | 3.50M | +$34M | $34M |
| BBDBANCO BRADESCO S A | NEW | +885.6K | 885.6K | +$4M | $4M |
| GGBGERDAU SA | NEW | +881.9K | 881.9K | +$2M | $2M |
| VALEVALE S A | ADDED | +3.77M | 5.17M | +$24M | $43M |
| STNESTONECO LTD | ADDED | +245.1K | 447.2K | +$2M | $10M |
| AVON PRODUCTS INC | SOLD OUT | −11.65M | 0 | −$66M | $0 |
| MELIMERCADOLIBRE INC | TRIMMED | −128.2K | 141.8K | −$85M | $69M |
| COSAN LTD | ADDED | +1.40M | 4.77M | −$18M | $59M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2020
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | XPXP INChistory → | CL A | 34.01% | $118M | 6.10M |
| 2 | MELIMERCADOLIBRE INChistory → | SPONSORED ADS | 20.04% | $69M | 141.8K |
| 3 | COSAN LTD | SHS A | 16.97% | $59M | 4.77M |
| 4 | VALEVALE S Ahistory → | SPONSORED ADS | 12.40% | $43M | 5.17M |
| 5 | NATURA &CO HOLDING-ADR | ADS | 9.95% | $34M | 3.50M |
| 6 | STNESTONECO LTDhistory → | COM CL A | 2.82% | $10M | 447.2K |
| 7 | LOMALOMA NEGRA CORPhistory → | SPONSORED ADS | 2.29% | $8M | 2.23M |
| 8 | BBDBANCO BRADESCO S Ahistory → | SP ADR PFD | 1.04% | $4M | 885.6K |
| 9 | GGBGERDAU SA | SPON ADR REP PFD | 0.49% | $2M | 881.9K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q3 2025 | $18M | 4 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $29M | 4 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $17M | 4 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $35M | 4 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $2M | 4 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $16M | 4 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $65M | 4 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $82M | 5 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $60M | 5 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023REVEALED | $34M | 5 | Sep 1, 2023 | RESTATEMENT | changes · EDGAR ↗ |
| Q1 2023 | $27M | 5 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $132M | 6 | Jun 14, 2023 | RESTATEMENT | changes · EDGAR ↗ |
| Q3 2022 | $206M | 9 | Jun 14, 2023 | RESTATEMENT | changes · EDGAR ↗ |
| Q2 2022 | $226M | 10 | Jun 14, 2023 | RESTATEMENT | changes · EDGAR ↗ |
| Q1 2022 | $314M | 11 | Jun 14, 2023 | RESTATEMENT | changes · EDGAR ↗ |
| Q4 2021 | $249M | 13 | Feb 11, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $306M | 13 | Nov 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $363M | 10 | Aug 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $395M | 10 | May 14, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $583M | 11 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $445M | 10 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $668M | 8 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $346M | 9 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $549M | 7 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $278M | 5 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $237M | 7 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $210M | 5 | May 14, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.