Managers / Q2 2025 · view latest →
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 $308M in U.S.-listed holdings across 18 positions for Q2 2025.
The portfolio is heavily concentrated: Invesco Exchange Traded Fd T alone accounts for 20.2% of reported value.
Compared with Q1 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% · $204M
- Common Stock · 16.7% · $52M
- ADR · 16.5% · $51M
- Other · 0.6% · $2M
Quarter-over-Quarter Changes full breakdown →
vs Q1 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| VVISA INC | NEW | +10.2K | 10.2K | +$4M | $4M |
| SPDR S&P 500 ETF TR | ADDED | +73.5K | 141.7K | +$49M | $88M |
| INVESCO EXCHANGE TRADED FD T | TRIMMED | −68.4K | 490.2K | −$8M | $89M |
| MSFTMICROSOFT CORP | HELD | +0 | 24.8K | +$3M | $12M |
| ULTRAPAR PARTICIPACOES SA | HELD | +0 | 14.08M | +$3M | $46M |
| ISHARES INC | HELD | +0 | 451.8K | +$3M | $27M |
| BRK/BBERKSHIRE HATHAWAY INC DEL | HELD | +0 | 31.2K | −$1M | $15M |
| GOOGALPHABET INC | HELD | +0 | 40.0K | +$846,400 | $7M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | INVESCO EXCHANGE TRADED FD T | S&P500 EQL WGT | 28.95% | $89M | 490.2K |
| 2 | SPDR S&P 500 ETF TR | TR UNIT | 28.45% | $88M | 141.7K |
| 3 | ULTRAPAR PARTICIPACOES SA | SP ADR REP COM | 15.01% | $46M | 14.08M |
| 4 | ISHARES INC | MSCI EURZONE ETF | 8.73% | $27M | 451.8K |
| 5 | BRK/BBERKSHIRE HATHAWAY INC DEL | CL B NEW · CL A | 7.29% | $22M | 31.2K |
| 6 | GOOGALPHABET INC | CAP STK CL C · CAP STK CL A | 4.26% | $13M | 74.2K |
| 7 | MSFTMICROSOFT CORPhistory → | COM | 4.01% | $12M | 24.8K |
| 8 | VVISA INChistory → | COM CL A | 1.18% | $4M | 10.2K |
| 9 | SUZANO S A | SPON ADS | 1.05% | $3M | 344.5K |
| 10 | WALDENCAST PLC | CLASS A ORD SHS | 0.62% | $2M | 776.7K |
| 11 | COSAN S A | ADS | 0.45% | $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 ↗.