ATMOS CAPITAL GESTAO DE RECURSOS LTDA.
Long book
$579.6M
Q1 2026
Positions
15
Top-10 weight
92%
concentration
Last quarter
+1.6%
SPY +14.8%
Turnover
0%
of book per quarter
Strategy in plain words
auto-generated from filingsATMOS CAPITAL GESTAO DE RECURSOS LTDA. is a concentrated fundamental stock-picker, running a $579.6M US long book across 15 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: NU HOLDINGS LTD/CAYMAN ISL-A, MERCADOLIBRE INC, AMAZON.COM INC, XP INC - CLASS A, MICROSOFT CORP.
Over the last 9 quarters its long book ran on average 0.5pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.5%
Q2 2024
+8.0%
Q3 2024
-14.8%
Q4 2024
+8.5%
Q1 2025
+39.2%
Q2 2025
+5.8%
Q3 2025
-6.6%
Q4 2025
-8.4%
Q1 2026
+1.6%
Sector allocation
Financials 54%
Services media 19%
Technology 17%
Consumer discretionary 8%
Industrials 2%
Long book by quarter
What does ATMOS CAPITAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NU NU HOLDINGS LTD/CAYMAN ISL-A | Financials | 18.0M | $258.9M | 44.7% | +13.9% |
| MELI MERCADOLIBRE INC | Services media | 31.2K | $53.9M | 9.3% | -58.7% |
| AMZN AMAZON.COM INC | Consumer discretionary | 228.2K | $47.5M | 8.2% | +347.7% |
| XP XP INC - CLASS A | Financials | 2.4M | $45.4M | 7.8% | -57.6% |
| MSFT MICROSOFT CORP | Technology | 120.6K | $44.6M | 7.7% | +429.9% |
| DLO DLOCAL LTD | Services media | 2.1M | $26.9M | 4.6% | +8.2% |
| NVDA NVIDIA CORP | Technology | 85.3K | $14.9M | 2.6% | +28.8% |
| GOOGL ALPHABET INC-CL A | Technology | 50.7K | $14.6M | 2.5% | +7.0% |
| AAPL APPLE INC | Technology | 53.4K | $13.6M | 2.3% | +7.5% |
| ABNB AIRBNB INC-CLASS A | Services media | 100.6K | $12.7M | 2.2% | +7.3% |
| NFLX NETFLIX INC | Services media | 128.3K | $12.3M | 2.1% | +7.0% |
| BKNG BOOKING HOLDINGS INC | Industrials | 58.4K | $9.8M | 1.7% | +2585.0% |
| META META PLATFORMS INC-CLASS A | Technology | 16.4K | $9.4M | 1.6% | +7.2% |
| VTEX VTEX -CLASS A | Technology | 193.2K | $773K | 0.1% | -13.2% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 16 | $713.7M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR/ARESTATEMENT | Feb 20, 2026 | 16 | $760.5M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 16 | $1.44B | SEC ↗ | |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 17 | $745.3M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 10 | $645.3M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 16, 2025 | 12 | $476.0M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 12 | $461.1M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 13 | $700.8M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 14 | $713.5M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 13 | $819.8M | canonical | SEC ↗ |
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