Managers / Q1 2022 · 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 $314M in U.S.-listed holdings across 11 positions for Q1 2022.
The portfolio is heavily concentrated: MELI alone accounts for 32.4% of reported value.
Compared with Q4 2021, the fund opened 0 new positions 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 · 50.0% · $157M
- ADR · 27.0% · $85M
- Other · 23.0% · $72M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2021 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| VTEX | ADDED | +3.68M | 3.95M | +$21M | $24M |
| BUDANHEUSER-BUSCH INBEV SA/NV | ADDED | +890.8K | 1.25M | +$53M | $75M |
| ITUBITAU UNIBANCO HLDG S A | SOLD OUT | −7.01M | 0 | −$26M | $0 |
| LOMALOMA NEGRA C I A S A MTN | SOLD OUT | −65.0K | 0 | −$434,000 | $0 |
| VALEVALE S A | TRIMMED | −873.5K | 204.1K | −$11M | $4M |
| MELIMERCADOLIBRE INC | ADDED | +20.8K | 85.4K | +$15M | $102M |
| NATURA &CO HLDG S A | ADDED | +386.1K | 4.04M | +$10M | $44M |
| XPXP INC | ADDED | +97.3K | 1.42M | +$5M | $43M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2022
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | MELIMERCADOLIBRE INChistory → | COM | 32.39% | $102M | 85.4K |
| 2 | BUDANHEUSER-BUSCH INBEV SA/NVhistory → | SPONSORED ADR | 23.96% | $75M | 1.25M |
| 3 | NATURA &CO HLDG S A | ADS | 14.07% | $44M | 4.04M |
| 4 | XPXP INChistory → | CL A | 13.62% | $43M | 1.42M |
| 5 | VTEX | SHS CL A | 7.74% | $24M | 3.95M |
| 6 | NUNU HLDGS LTDhistory → | ORD SHS CL A | 3.98% | $12M | 1.62M |
| 7 | GGBGERDAU SAhistory → | SPON ADR REP PFD | 1.76% | $6M | 859.8K |
| 8 | VALEVALE S Ahistory → | SPONSORED ADS | 1.30% | $4M | 204.1K |
| 9 | MELI KASZEK PIONEER CORP | CLASS A ORD | 0.89% | $3M | 269.8K |
| 10 | HPX CORP | UNIT 99/99/9999 | 0.19% | $603,000 | 60.0K |
| 11 | HPX CORP-A | SHS CL A | 0.09% | $297,600 | 30.0K |
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 ↗.