Managers / Q1 2026
Naman Capital Ltda
CIK 0001946136 · AVENIDA BRIGADEIRO FARIA LIMA, 1355 - 21 ANDAR, SAO PAULO, D5, 04538-132 · 55 11 3503-9551
Summary
Naman Capital Ltda reported $360M in U.S.-listed holdings across 19 positions for Q1 2026.
The portfolio is heavily concentrated: State Str Spdr S P 500 Etf T alone accounts for 22.4% of reported value.
Compared with Q4 2025, the fund opened 1 new position and exited 0.
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. 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
- ETP · 66.1% · $238M
- ADR · 19.0% · $68M
- Common Stock · 14.9% · $54M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ISHARES INC | NEW | +71.0K | 71.0K | +$9M | $9M |
| VVISA INC | ADDED | +20.0K | 30.2K | +$6M | $9M |
| BRK/BBERKSHIRE HATHAWAY INC DEL | TRIMMED | −8.0K | 23.2K | −$5M | $11M |
| ULTRAPAR PARTICIPACOES SA | TRIMMED | −960.8K | 12.73M | +$12M | $64M |
| STATE STR SPDR S&P 500 ETF T | TRIMMED | −10.4K | 182.4K | −$13M | $119M |
| MSFTMICROSOFT CORP | HELD | +0 | 20.7K | −$2M | $8M |
| GOOGLALPHABET INC | HELD | +0 | 34.2K | −$870,048 | $10M |
| GOOGALPHABET INC | HELD | +0 | 30.8K | −$828,674 | $9M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | STATE STR SPDR S&P 500 ETF T | TR UNIT | 32.98% | $119M | 182.4K |
| 2 | INVESCO EXCHANGE TRADED FD T | S&P500 EQL WGT | 22.83% | $82M | 428.0K |
| 3 | ULTRAPAR PARTICIPACOES SA | SP ADR REP COM | 17.70% | $64M | 12.73M |
| 4 | ISHARES INC | MSCI EURZONE ETF · MSCI STH KOR ETF | 10.29% | $37M | 522.8K |
| 5 | GOOGLALPHABET INC | CAP STK CL A · CAP STK CL C | 5.19% | $19M | 65.0K |
| 6 | BRK/BBERKSHIRE HATHAWAY INC DEL | CL B NEW · CL A | 5.08% | $18M | 23.2K |
| 7 | VVISA INChistory → | COM CL A | 2.54% | $9M | 30.2K |
| 8 | MSFTMICROSOFT CORPhistory → | COM | 2.13% | $8M | 20.7K |
| 9 | SUZANO S A | SPON ADS | 0.96% | $3M | 344.5K |
| 10 | COSAN S A | ADS | 0.31% | $1M | 271.9K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $360M | 19 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $356M | 17 | Feb 27, 2026 | RESTATEMENT | changes · EDGAR ↗ |
| Q3 2025 | $356M | 17 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $308M | 18 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $255M | 17 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $167M | 16 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $261M | 16 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $236M | 14 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $256M | 12 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $157M | 13 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $125M | 12 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $147M | 13 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $112M | 12 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $102M | 12 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $134M | 19 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
Other Included Managers
This filing reports holdings on behalf of 1 additional manager.
- Kosmin Fund Ltd028-22661
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 ↗.