# Pangea Capital Gestao de Recursos Ltda.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2119167. Source: https://holderbook.com/funds/2119167-pangea-capital-gestao-de-recursos-ltda/

- Reported value: $144.8M
- Positions: 11
- Weight of the ten largest: 100.0%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $99.1M | 198,007 | 68.4% | 14 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $21.7M | 91,221 | 15.0% | 14 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $9.0M | 12 | 6.2% | 14 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $6.5M | 3,800 | 4.5% | 3 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $5.4M | 9,600 | 3.7% | 5 |
| ISHARES INC | [EWZ](https://holderbook.com/stocks/EWZ/) | $2.1M | 62,000 | 1.5% | 9 |
| LGI HOMES INC | [LGIH](https://holderbook.com/stocks/LGIH/) | $318.4K | 5,000 | 0.2% | 1 |
| CONSTELLATION BRANDS INC | [STZ](https://holderbook.com/stocks/STZ/) | $278.2K | 2,000 | 0.2% | 2 |
| NOAH HLDGS LTD | [NOAH](https://holderbook.com/stocks/NOAH/) | $159.8K | 16,000 | 0.1% | 2 |
| NU HLDGS LTD | [NU](https://holderbook.com/stocks/NU/) | $147.0K | 11,000 | 0.1% | 1 |
| ISHARES INC | [TUR](https://holderbook.com/stocks/TUR/) | $72.0K | 0 | 0.0% | 4 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +5.3% | +14.8% | -9.5% | 100% |
| Q1 2026 | -5.5% | -4.6% | -0.9% | 100% |
| Q4 2025 | +0.9% | +2.4% | -1.5% | 100% |
| Q3 2025 | +3.0% | +7.8% | -4.8% | 100% |
| Q2 2025 | -5.2% | +10.5% | -15.7% | 100% |
| Q3 2023 | +1.9% | -3.6% | +5.5% | 100% |
| Q2 2023 | +12.7% | +8.3% | +4.5% | 100% |
| Q1 2023 | +4.0% | +7.0% | -3.0% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $144.8M | 11 |
| Q1 2026 | $131.5M | 9 |
| Q4 2025 | $123.6M | 9 |
| Q3 2025 | $231.1M | 8 |
| Q2 2025 | $111.6M | 8 |
| Q1 2025 | $119.9M | 6 |
| Q4 2024 | $130.1M | 4 |
| Q3 2024 | $129.1M | 4 |
| Q2 2024 | $116.4M | 4 |
| Q1 2024 | $117.9M | 3 |
| Q4 2023 | $100.0M | 3 |
| Q2 2023 | $128.9M | 6 |