SEC 13F Intelligence

Managers / Q4 2023 · view latest →

Naman Capital Ltda

CIK 0001946136 · AVENIDA BRIGADEIRO FARIA LIMA, 1355 - 21 ANDAR, SAO PAULO, D5, 04538-132 · 55 11 3503-9551

Reported Value
$157M
Q4 2023
Positions
13
Filings on Record
34
2019–present window
Filed
Feb 14, 2024
original filing

Summary

Naman Capital Ltda reported $157M in U.S.-listed holdings across 13 positions for Q4 2023.

The portfolio is heavily concentrated: UGP alone accounts for 48.6% of reported value.

Compared with Q3 2023, the fund opened 1 new position and exited 0.

Portfolio Metrics

Turnover
+0.6%
vs prior filed quarter
Top-10 Concentration
+100.0%
share of reported value
Largest Position
+48.6%
Ultrapar Participacoes

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

13F Reported Value
Q3 ’22: $134MQ3 ’22Q4 ’22: $102MQ1 ’23: $112MQ1 ’23Q2 ’23: $147MQ3 ’23: $125MQ3 ’23Q4 ’23: $157MQ1 ’24: $256MQ1 ’24Q2 ’24: $236MQ3 ’24: $261MQ3 ’24Q4 ’24: $167MQ1 ’25: $255MQ1 ’25Q2 ’25: $308MQ3 ’25: $356MQ3 ’25Q4 ’25: $356MQ1 ’26: $360MQ1 ’26filingsflow.com

Portfolio Composition

By security type
ADR: 51.1%Common Stock: 36.0%Other: 8.6%ETP: 4.3%
  • ADR · 51.1% · $80M
  • Common Stock · 36.0% · $57M
  • Other · 8.6% · $13M
  • ETP · 4.3% · $7M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
PROSHARES TR IINEW+300.0K300.0K+$3M$3M
UGPULTRAPAR PARTICIPACOES SAHELD+014.08M+$25M$76M
MSFTMICROSOFT CORPHELD+045.0K+$3M$17M
WALDENCAST PLCHELD+01.00M+$2M$11M
PROSHARES TRHELD+0520.0K−$769,600$7M
GOOGALPHABET INCHELD+040.0K+$363,200$6M
BRK/BBERKSHIRE HATHAWAY INC DELHELD+040.0K+$254,400$14M
SUZSUZANO S AHELD+0344.5K+$210,174$4M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2023

10 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1UGPULTRAPAR PARTICIPACOES SAhistory →SP ADR REP COM48.61%$76M14.08M
2BRK/BBERKSHIRE HATHAWAY INC DELCL B NEW · CL A12.54%$20M40.0K
3MSFTMICROSOFT CORPhistory →COM10.78%$17M45.0K
4ORCLORACLE CORPhistory →COM8.06%$13M120.0K
5WALDENCAST PLCCLASS A ORD SHS6.97%$11M1.00M
6PROSHARES TRSHORT S&P 500 NE4.30%$7M520.0K
7GOOGALPHABET INChistory →CAP STK CL C3.59%$6M40.0K
8SUZSUZANO S Ahistory →SPON ADS2.49%$4M344.5K
9PROSHARES TR IIULTRA VIX SHORT1.61%$3M300.0K
10DISDISNEY WALT COhistory →COM1.04%$2M18.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$360M19May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$356M17Feb 27, 2026RESTATEMENTchanges · EDGAR ↗
Q3 2025$356M17Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$308M18Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$255M17May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$167M16Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$261M16Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$236M14Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$256M12May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$157M13Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$125M12Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$147M13Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$112M12May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$102M12Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$134M19Nov 14, 202213F-HRchanges · 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 ↗.