TB Capital
TB CAPITAL GESTÃO DE RECURSOS LTDA.
Portfolio as of July 2026
In stocks
R$773.1M
Stocks
10
Top 10: 100%
Funds
3
YTD
▲ 11.9%
AUM-weighted average
Past performance is no guarantee of future results.
Disclosed so far
Stock holdings disclosed each month
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Funds can keep positions confidential for up to 180 days, so recent months show up incomplete (hatched) until the confidentiality period ends. The portfolio shown is from the last complete month.
This month
No complete previous month to compare.
Sectors
- BDRs82.2%
- Utilities17.8%
Portfolio
All of the manager's funds combined · since then: today's price vs. Jul/26
| Stock | Company | % of stock portfolio | Value | Since then | Sector |
|---|---|---|---|---|---|
 MSFT34 | Microsoft Corp | 23.1% | R$178.2M | ▲ 12.8% | BDR |
 EQTL3 | Equatorial S.A. | 17.8% | R$137.8M | ▲ 28.2% | Utilities |
 M1TA34 | Meta Platforms Inc | 17.1% | R$132.4M | ▲ 24.6% | BDR |
 AMZO34 | Amazon.com, Inc. | 12.0% | R$92.9M | ▼ 4.2% | BDR |
 ROXO34 | Nu Holdings Ltd. | 8.7% | R$67.5M | ▲ 5.6% | BDR |
 TSMC34 | Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 7.2% | R$55.8M | ▲ 4.2% | BDR |
 GOGL34 | Alphabet Inc | 7.0% | R$53.8M | ▼ 5.4% | BDR |
 VISA34 | Visa Inc. | 2.7% | R$20.5M | ▲ 9.1% | BDR |
 MSCD34 | Mastercard Inc | 2.5% | R$19.3M | ▲ 5.3% | BDR |
 MELI34 | MercadoLibre, Inc. | 1.9% | R$14.8M | ▼ 0.7% | BDR |
Funds
Quota return, after fees
| Fund | Class | AUM | YTD | 12 months | Latest portfolio |
|---|---|---|---|---|---|
| TB MASTER | Ações Livre | R$1.7B | ▲ 11.9% | ▲ 16.7% | Jul/26 |
| TB INSTITUCIONAL MASTER | Multimercados Livre | R$115.1M | ▲ 11.9% | ▲ 17.0% | Jun/26 |
| TB PREV | Previdência Multimercado Livre | R$85.7M | ▲ 12.0% | ▲ 17.1% | Jun/26 |
Past performance is no guarantee of future results.