TB Capital Gestao de Recursos Ltda.
CIK
2077092
Location
RIO DE JANEIRO, D5
Portfolio Value
Small
$137,335,732
Diversification
Diversified
Filing Date
Global Rank
#5,018
/ 8,603
▲ 57
· as of Mar 2026
Top Industry
Travel Services
18.2%
3Y Alpha vs SPY
-17.4%
Period ended 3 months ago
Filed May 15, 2026 · 55d
4 quarters · since Jun 2025
Clone Performance
Aug 2025–Jul 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+9.9%
SPY
+16.9%
Annualised alpha
-7.9%
Max drawdown
−11.7%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
15 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
17.7%
−3.4 pts
Top 5
53.7%
−8.9 pts
Top 10
83.2%
−8.1 pts
HHI
888
Diversified−203
Portfolio Trend
4 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Technology | 38.4% | $52,767,208 |
| Consumer Cyclical | 28.2% | $38,709,987 |
| Financial Services | 27.7% | $38,060,406 |
| Communication Services | 5.7% | $7,798,131 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
7 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| NU | Nu Holdings Ltd. | +384,295 | 877,447 | $12,608,913 | |
| APO | Apollo Global Management, Inc. | +15,627 | 117,384 | $13,078,925 | |
| MSFT | Microsoft Corp | +8,835 | 28,006 | $10,366,981 | |
| META | Meta Platforms, Inc. | +3,425 | 13,630 | $7,798,131 | |
| BKNG | Booking Holdings Inc. | +1,861 | 4,207 | $708,512 | |
| V | Visa Inc. | +1,760 | 20,521 | $6,202,267 | |
| MA | Mastercard Inc | +1,169 | 12,349 | $6,170,301 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
6 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| DLO | dLocal Ltd | −118,912 | 804,856 | $10,438,982 | |
| CPNG | Coupang, Inc. | −64,567 | 497,606 | $9,394,801 | |
| TSM | Taiwan Semiconductor Manufacturing Co Ltd | −42,422 | 18,829 | $6,363,260 | |
| ABNB | Airbnb, Inc. | −31,498 | 192,562 | $24,316,729 | |
| ADBE | Adobe Inc. | −6,094 | 23,685 | $5,757,349 | |
| AMZN | Amazon Com Inc | −3,767 | 20,598 | $4,289,945 | |
| No positions match the current search. | |||||
Sold Out
Positions the filer fully exitedNo qualifying positions this quarter.
15 positions ·
$137,335,732 total
· as of Mar 31, 2026
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| ABNB |
Airbnb, Inc.
Consumer Cyclical
|
Reduced | 192,562 | $24,316,729 | 17.71% | |
| SAP |
Sap SE
Technology
|
NEW | 77,681 | $13,299,764 | 9.68% | |
| APO |
Apollo Global Management, Inc.
Financial Services
|
Added | 117,384 | $13,078,925 | 9.52% | |
| NU |
Nu Holdings Ltd.
Financial Services
|
Added | 877,447 | $12,608,913 | 9.18% | |
| DLO |
dLocal Ltd
Technology
|
Reduced | 804,856 | $10,438,982 | 7.60% | |
| MSFT |
Microsoft Corp
Technology
|
Added | 28,006 | $10,366,981 | 7.55% | |
| CPNG |
Coupang, Inc.
Consumer Cyclical
|
Reduced | 497,606 | $9,394,801 | 6.84% | |
| META |
Meta Platforms, Inc.
Communication Services
|
Added | 13,630 | $7,798,131 | 5.68% | |
| NVDA |
Nvidia Corp
Technology
|
NEW | 37,505 | $6,540,872 | 4.76% | |
| TSM |
Taiwan Semiconductor Manufacturing Co Ltd
Technology
|
Reduced | 18,829 | $6,363,260 | 4.63% | |
| V |
Visa Inc.
Financial Services
|
Added | 20,521 | $6,202,267 | 4.52% | |
| MA |
Mastercard Inc
Financial Services
|
Added | 12,349 | $6,170,301 | 4.49% | |
| ADBE |
Adobe Inc.
Technology
|
Reduced | 23,685 | $5,757,349 | 4.19% | |
| AMZN |
Amazon Com Inc
Consumer Cyclical
|
Reduced | 20,598 | $4,289,945 | 3.12% | |
| BKNG |
Booking Holdings Inc.
Consumer Cyclical
|
Added | 4,207 | $708,512 | 0.52% |