Naman Capital Ltda Concentrated Active

CIK: 0001946136 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 27, 2026

Total Value ($000): $355,533 (100.0% shares, 0.0% debt)

Holdings (12)

Increased Positions (1)

SPY SPDR S&P 500 ETF TR 37.0%

Value ($000) $131,527 (+14.2%) Shares 192,877 (+11.5%) Est. Cost $595.96 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	192,877 (+11.5%)	$131,527 (+14.2%)	37.0%	$595.96	—	TR UNIT	78462F103

Decreased Positions (4)

RSP INVESCO EXCHANGE TRADED FD T 23.1%

Value ($000) $81,983 (-12.1%) Shares 427,975 (-13.0%) Est. Cost $174.96 Unrealized —

UGP ULTRAPAR PARTICIPACOES SA 14.5%

Value ($000) $51,604 (-10.6%) Shares 13,687,979 (-2.8%) Est. Cost $3.82 Unrealized —

MSFT MICROSOFT CORP 2.8%

Value ($000) $9,999 (-22.2%) Shares 20,675 (-16.6%) Est. Cost $156.34 Unrealized +220.2%

GOOG ALPHABET INC 2.7%

Value ($000) $9,652 (-0.9%) Shares 30,760 (-23.1%) Est. Cost $108.64 Unrealized +163.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RSP	INVESCO EXCHANGE TRADED FD T	427,975 (-13.0%)	$81,983 (-12.1%)	23.1%	$174.96	—	S&P500 EQL WGT	46137V357
UGP	ULTRAPAR PARTICIPACOES SA	13,687,979 (-2.8%)	$51,604 (-10.6%)	14.5%	$3.82	—	SP ADR REP COM	90400P101
MSFT	MICROSOFT CORP	20,675 (-16.6%)	$9,999 (-22.2%)	2.8%	$156.34	+220.2%	COM	594918104
GOOG	ALPHABET INC	30,760 (-23.1%)	$9,652 (-0.9%)	2.7%	$108.64	+163.6%	CAP STK CL C	02079K107

Unchanged Positions (7)

GOOGL ALPHABET INC 3.0%

Value ($000) $10,705 Shares 34,200 Est. Cost $174.14 Unrealized +64.0%

EZU ISHARES INC 8.1%

Value ($000) $28,963 Shares 451,750 Est. Cost $53.26 Unrealized —

CSAN COSAN S A 0.3%

Value ($000) $1,074 Shares 271,941 Est. Cost $5.44 Unrealized —

V VISA INC 1.0%

Value ($000) $3,577 Shares 10,200 Est. Cost $346.99 Unrealized -1.9%

SUZ SUZANO S A 0.9%

Value ($000) $3,218 Shares 344,547 Est. Cost $8.47 Unrealized —

BRK/A BERKSHIRE HATHAWAY INC DEL 2.1%

Value ($000) $7,548 Shares 10 Est. Cost $302764.94 Unrealized +146.5%

BRK/B BERKSHIRE HATHAWAY INC DEL 4.4%

Value ($000) $15,683 Shares 31,200 Est. Cost $209.83 Unrealized +137.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	34,200	$10,705	3.0%	$174.14	+64.0%	CAP STK CL A	02079K305
EZU	ISHARES INC	451,750	$28,963	8.1%	$53.26	—	MSCI EURZONE ETF	464286608
CSAN	COSAN S A	271,941	$1,074	0.3%	$5.44	—	ADS	22113B103
V	VISA INC	10,200	$3,577	1.0%	$346.99	-1.9%	COM CL A	92826C839
SUZ	SUZANO S A	344,547	$3,218	0.9%	$8.47	—	SPON ADS	86959K105
BRK/A	BERKSHIRE HATHAWAY INC DEL	10	$7,548	2.1%	$302764.94	+146.5%	CL A	084670108
BRK/B	BERKSHIRE HATHAWAY INC DEL	31,200	$15,683	4.4%	$209.83	+137.1%	CL B NEW	084670702