SEC 13F Intelligence

Managers / Q3 2025 · 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
$356M
Q3 2025
Positions
17
Filings on Record
34
2019–present window
Filed
Nov 14, 2025
original filing

Summary

Naman Capital Ltda reported $356M in U.S.-listed holdings across 17 positions for Q3 2025.

The portfolio is heavily concentrated: SPY alone accounts for 32.3% of reported value.

Compared with Q2 2025, the fund opened 0 new positions and exited 1.

Portfolio Metrics

Turnover
+0.7%
vs prior filed quarter
Top-10 Concentration
+100.0%
share of reported value
Largest Position
+32.3%
Spdr S P 500 Etf Tr

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
ETP: 66.4%ADR: 17.5%Common Stock: 16.2%
  • ETP · 66.4% · $236M
  • ADR · 17.5% · $62M
  • Common Stock · 16.2% · $58M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
WALDENCAST PLCSOLD OUT−776.7K0−$2M$0
SPYSPDR S&P 500 ETF TRADDED+31.2K172.9K+$28M$115M
RSPINVESCO EXCHANGE TRADED FD THELD+1.5K491.7K+$4M$93M
UGPULTRAPAR PARTICIPACOES SAHELD+014.08M+$12M$58M
GOOGALPHABET INCHELD+040.0K+$3M$10M
GOOGLALPHABET INCHELD+034.2K+$2M$8M
EZUISHARES INCHELD+0451.8K+$1M$28M
BRK/BBERKSHIRE HATHAWAY INC DELHELD+031.2K+$529,464$16M

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

Holdings — Q3 2025

10 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SPYSPDR S&P 500 ETF TRhistory →TR UNIT32.34%$115M172.9K
2RSPINVESCO EXCHANGE TRADED FD Thistory →S&P500 EQL WGT26.18%$93M491.7K
3UGPULTRAPAR PARTICIPACOES SAhistory →SP ADR REP COM16.20%$58M14.08M
4EZUISHARES INChistory →MSCI EURZONE ETF7.85%$28M451.8K
5BRK/BBERKSHIRE HATHAWAY INC DELCL B NEW · CL A6.52%$23M31.2K
6GOOGALPHABET INCCAP STK CL C · CAP STK CL A5.07%$18M74.2K
7MSFTMICROSOFT CORPhistory →COM3.61%$13M24.8K
8VVISA INCCOM CL A0.98%$3M10.2K
9SUZSUZANO S ASPON ADS0.91%$3M344.5K
10CSANCOSAN S AADS0.35%$1M271.9K

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 ↗.