Constellation Investimentos e Participacoes Ltda
SAO PAULO, D5
$47m in 7 US stocks at the end of 30 September 2025. The top 10 are 100.0% of the money. It changed about 20.1% of the portfolio this quarter.
Value
$47m
Stocks
7
Top 10 share
100.0%
Turnover
20.1%
What changed this quarter
New
Bought for the first time this quarter.
- CoupangCPNG1.2% of the fund
- MicrosoftMSFT1.1% of the fund
- Amazon.comAMZN0.7% of the fund
Added
Bought more of a stock they already held.
- MercadoLibreMELI48.2% of the fund+5%
Cut
Sold some of their stake.
- Nu HoldingsNU45.4% of the fund-4%
Sold out
Sold their entire stake.
- XPXP-100%
- Ambipar Emergency ResponseAMBIQ-100%
- StoneCoSTNE-100%
- Petroleo Brasileiro S APBR-A-100%
Holdings
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| MercadoLibreMELI | 48.2% | $23m | 9,636 | +5% |
| Nu HoldingsNU | 45.4% | $21m | 1,324,373 | -4% |
| Meta PlatformsMETA | 1.9% | $903,287 | 1,230 | Held |
| NvidiaNVDA | 1.5% | $697,809 | 3,740 | Held |
| CoupangCPNG | 1.2% | $550,942 | 17,110 | New |
| MicrosoftMSFT | 1.1% | $495,160 | 956 | New |
| Amazon.comAMZN | 0.7% | $333,527 | 1,519 | New |
Over time and by industry
Value over time
Sep '25
Value is down 16.4% since 30 June 2025.
Where the money is
Technology50.8%
Financial services45.4%
Media & telecom1.9%
Retail & consumer1.9%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.