Managers / Q1 2021 · 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 $395M in U.S.-listed holdings across 10 positions for Q1 2021.
The portfolio is heavily concentrated: MELI alone accounts for 40.2% of reported value.
Compared with Q4 2020, the fund opened 1 new position and exited 2.
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 · 67.3% · $266M
- ADR · 16.5% · $65M
- Other · 16.2% · $64M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2020 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| HPX CORP | NEW | +30.0K | 30.0K | +$321,000 | $321,000 |
| COSAN LTD | SOLD OUT | −9.14M | 0 | −$168M | $0 |
| BBDBANCO BRADESCO SA | SOLD OUT | −974.3K | 0 | −$5M | $0 |
| STNESTONECO LTD | ADDED | +165.1K | 449.3K | +$6M | $30M |
| XPXP INC | TRIMMED | −267.0K | 1.88M | −$8M | $77M |
| MELIMERCADOLIBRE INC | HELD | −4.6K | 99.1K | −$15M | $159M |
| VALEVALE SA | HELD | +44.3K | 1.95M | +$5M | $37M |
| LOMALOMA NEGRA CORP | HELD | +24.2K | 2.53M | +$2M | $17M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2021
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | MELIMERCADOLIBRE INChistory → | COM | 40.19% | $159M | 99.1K |
| 2 | XPXP INChistory → | CL A | 19.55% | $77M | 1.88M |
| 3 | NATURA &CO HLDG S A | ADS | 15.97% | $63M | 3.41M |
| 4 | VALEVALE SAhistory → | SPONSORED ADS | 9.35% | $37M | 1.95M |
| 5 | STNESTONECO LTDhistory → | COM CL A | 7.58% | $30M | 449.3K |
| 6 | LOMALOMA NEGRA CORPhistory → | SPONSORED ADS | 4.42% | $17M | 2.53M |
| 7 | ITUBITAU UNIBANCO HLDG S Ahistory → | SPON ADR REP PFD | 1.39% | $6M | 1.02M |
| 8 | GGBGERDAU SAhistory → | SPON ADR REP PFD | 1.30% | $5M | 882.0K |
| 9 | HPX CORP | UNIT 99/99/9999 · SHS CL A | 0.25% | $987,000 | 90.0K |
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 ↗.