VPR Management LLC Long-Term Concentrated

CIK: 0001894203 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 13, 2026

Total Value ($000): $224,484 (100.0% shares, 0.0% debt)

Holdings (63)

New Positions (4)

AMZN AMAZON COM INC 0.1%

Value ($000) $231 Shares 1,000 Est. Cost $228.79 Unrealized 0.0%

AXIA/PC CENTRAIS ELET BRAS SA 0.1%

Value ($000) $227 Shares 26,311 Est. Cost $8.62 Unrealized —

BMY BRISTOL-MYERS SQUIBB CO 0.0%

Value ($000) $5 Shares 100 Est. Cost $47.53 Unrealized 0.0%

PFE PFIZER INC 0.0%

Value ($000) $2 Shares 100 Est. Cost $25.03 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AMZN	AMAZON COM INC	1,000	$231	0.1%	$228.79	0.0%	COM	023135106
AXIA/PC	CENTRAIS ELET BRAS SA	26,311	$227	0.1%	$8.62	—	SPON ADS PF CL C	15236F100
BMY	BRISTOL-MYERS SQUIBB CO	100	$5	0.0%	$47.53	0.0%	COM	110122108
PFE	PFIZER INC	100	$2	0.0%	$25.03	0.0%	COM	717081103

Increased Positions (11)

EWU ISHARES TR 1.3%

Value ($000) $2,881 (+22.8%) Shares 65,500 (+17.2%) Est. Cost $29.46 Unrealized —

ARCC ARES CAPITAL CORP 0.3%

Value ($000) $770 (+65.7%) Shares 38,073 (+67.2%) Est. Cost $20.27 Unrealized -2.3%

OBDC BLUE OWL CAPITAL CORPORATION 0.3%

Value ($000) $627 (+66.6%) Shares 50,470 (+71.1%) Est. Cost $12.87 Unrealized -4.0%

FSK FS KKR CAP CORP 0.2%

Value ($000) $533 (+70.1%) Shares 36,000 (+71.4%) Est. Cost $16.50 Unrealized -10.9%

MAIN MAIN STR CAP CORP 0.2%

Value ($000) $373 (+42.2%) Shares 6,176 (+49.8%) Est. Cost $56.63 Unrealized +4.1%

OCSL OAKTREE SPECIALTY LENDING CO 0.1%

Value ($000) $197 (+83.6%) Shares 15,494 (+88.0%) Est. Cost $13.75 Unrealized -2.8%

CSWC CAPITAL SOUTHWEST CORP 0.1%

Value ($000) $188 (+56.6%) Shares 8,500 (+54.5%) Est. Cost $20.25 Unrealized +1.0%

CCAP CRESCENT CAP BDC INC 0.1%

Value ($000) $126 (+77.3%) Shares 9,000 (+80.0%) Est. Cost $13.95 Unrealized -1.0%

SBS COMPANHIA DE SANEAMENTO BASI 0.3%

Value ($000) $693 (-2.9%) Shares 29,056 (+1.3%) Est. Cost $0.32 Unrealized —

ITUB ITAU UNIBANCO HLDG S A 1.4%

Value ($000) $3,136 (+0.5%) Shares 438,013 (+3.0%) Est. Cost $0.70 Unrealized —

XLE SELECT SECTOR SPDR TR 0.3%

Value ($000) $715 (+0.1%) Shares 16,000 (+100.0%) Est. Cost $56.59 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EWU	ISHARES TR	65,500 (+17.2%)	$2,881 (+22.8%)	1.3%	$29.46	—	MSCI UK ETF NEW	46435G334
ARCC	ARES CAPITAL CORP	38,073 (+67.2%)	$770 (+65.7%)	0.3%	$20.27	-2.3%	COM	04010L103
OBDC	BLUE OWL CAPITAL CORPORATION	50,470 (+71.1%)	$627 (+66.6%)	0.3%	$12.87	-4.0%	COM	69121K104
FSK	FS KKR CAP CORP	36,000 (+71.4%)	$533 (+70.1%)	0.2%	$16.50	-10.9%	COM	302635206
MAIN	MAIN STR CAP CORP	6,176 (+49.8%)	$373 (+42.2%)	0.2%	$56.63	+4.1%	COM	56035L104
OCSL	OAKTREE SPECIALTY LENDING CO	15,494 (+88.0%)	$197 (+83.6%)	0.1%	$13.75	-2.8%	COM	67401P405
CSWC	CAPITAL SOUTHWEST CORP	8,500 (+54.5%)	$188 (+56.6%)	0.1%	$20.25	+1.0%	COM	140501107
CCAP	CRESCENT CAP BDC INC	9,000 (+80.0%)	$126 (+77.3%)	0.1%	$13.95	-1.0%	COM	225655109
SBS	COMPANHIA DE SANEAMENTO BASI	29,056 (+1.3%)	$693 (-2.9%)	0.3%	$0.32	—	SPONSORED ADR	20441A102
ITUB	ITAU UNIBANCO HLDG S A	438,013 (+3.0%)	$3,136 (+0.5%)	1.4%	$0.70	—	SPON ADR REP PFD	465562106
XLE	SELECT SECTOR SPDR TR	16,000 (+100.0%)	$715 (+0.1%)	0.3%	$56.59	—	ENERGY	81369Y506

Exited Positions (1)

NLY ANNALY CAPITAL MANAGEMENT IN 0.3%

Value ($000) $606 Shares 30,000 Est. Cost $0.02 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NLY	ANNALY CAPITAL MANAGEMENT IN	30,000	$606	0.3%	$0.02	—	—	035710839

Decreased Positions (3)

AGNC AGNC INVT CORP 0.3%

Value ($000) $643 (-80.8%) Shares 60,000 (-82.5%) Est. Cost $1.65 Unrealized —

IAU ISHARES GOLD TR 14.3%

Value ($000) $32,097 (+4.3%) Shares 395,430 (-6.5%) Est. Cost $14.84 Unrealized —

EWC ISHARES INC 7.5%

Value ($000) $16,815 (-5.4%) Shares 311,800 (-11.4%) Est. Cost $32.81 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AGNC	AGNC INVT CORP	60,000 (-82.5%)	$643 (-80.8%)	0.3%	$1.65	—	COM	00123Q104
IAU	ISHARES GOLD TR	395,430 (-6.5%)	$32,097 (+4.3%)	14.3%	$14.84	—	ISHARES NEW	464285204
EWC	ISHARES INC	311,800 (-11.4%)	$16,815 (-5.4%)	7.5%	$32.81	—	MSCI CDA ETF	464286509

Unchanged Positions (45)

VEA VANGUARD TAX-MANAGED INTL FD 14.6%

Value ($000) $32,834 Shares 525,600 Est. Cost $39.09 Unrealized —

GUNR FLEXSHARES TR 10.2%

Value ($000) $22,815 Shares 497,600 Est. Cost $30.20 Unrealized —

FCX FREEPORT-MCMORAN INC 1.8%

Value ($000) $4,114 Shares 81,000 Est. Cost $30.81 Unrealized +40.6%

MELI MERCADOLIBRE INC 1.4%

Value ($000) $3,211 Shares 1,594 Est. Cost $1402.49 Unrealized +49.8%

EWZ ISHARES INC 7.0%

Value ($000) $15,675 Shares 493,400 Est. Cost $34.13 Unrealized —

VTI VANGUARD INDEX FDS 6.1%

Value ($000) $13,679 Shares 40,800 Est. Cost $135.67 Unrealized —

KOF COCA-COLA FEMSA SAB DE CV 1.0%

Value ($000) $2,348 Shares 24,789 Est. Cost $56.23 Unrealized —

VALE VALE S A 0.7%

Value ($000) $1,590 Shares 122,010 Est. Cost $0.45 Unrealized —

RIO RIO TINTO PLC 0.6%

Value ($000) $1,361 Shares 17,000 Est. Cost $59.84 Unrealized —

GNR SPDR INDEX SHS FDS 2.1%

Value ($000) $4,819 Shares 77,550 Est. Cost $48.74 Unrealized —

NU NU HLDGS LTD 2.3%

Value ($000) $5,149 Shares 307,600 Est. Cost $10.49 Unrealized +53.2%

VIG VANGUARD SPECIALIZED FUNDS 5.2%

Value ($000) $11,567 Shares 52,630 Est. Cost $92.67 Unrealized —

IEMG ISHARES INC 3.8%

Value ($000) $8,523 Shares 126,800 Est. Cost $49.30 Unrealized —

XOM EXXON MOBIL CORP 1.0%

Value ($000) $2,311 Shares 19,200 Est. Cost $105.66 Unrealized +9.3%

ACWI ISHARES TR 2.8%

Value ($000) $6,183 Shares 43,700 Est. Cost $85.59 Unrealized —

EFV ISHARES TR 1.1%

Value ($000) $2,549 Shares 35,700 Est. Cost $46.27 Unrealized —

PBR PETROLEO BRASILEIRO SA PETRO 0.7%

Value ($000) $1,574 Shares 132,846 Est. Cost $0.01 Unrealized —

EMLC VANECK ETF TRUST 3.6%

Value ($000) $8,164 Shares 316,200 Est. Cost $29.06 Unrealized —

ABEV AMBEV SA 0.4%

Value ($000) $958 Shares 387,929 Est. Cost $0.00 Unrealized —

BHP BHP GROUP LTD 0.5%

Value ($000) $1,207 Shares 20,000 Est. Cost $50.89 Unrealized —

STNE STONECO LTD 0.1%

Value ($000) $326 Shares 22,040 Est. Cost $5.97 Unrealized —

XP XP INC 0.3%

Value ($000) $607 Shares 37,068 Est. Cost $18.82 Unrealized -6.5%

PBR/A PETROLEO BRASILEIRO SA PETRO 0.8%

Value ($000) $1,739 Shares 154,260 Est. Cost $0.01 Unrealized —

AXIA CENTRAIS ELETRICAS BRASILEIR 0.4%

Value ($000) $917 Shares 100,104 Est. Cost $0.01 Unrealized —

GGB GERDAU SA 0.1%

Value ($000) $318 Shares 86,242 Est. Cost $0.55 Unrealized —

BSBR BANCO SANTANDER BRASIL S A 0.2%

Value ($000) $538 Shares 88,050 Est. Cost $0.01 Unrealized —

TIMB TIM S A 0.1%

Value ($000) $307 Shares 15,760 Est. Cost $0.01 Unrealized —

VIV TELEFONICA BRASIL SA 0.2%

Value ($000) $488 Shares 41,185 Est. Cost $0.01 Unrealized —

CVX CHEVRON CORP NEW 0.6%

Value ($000) $1,326 Shares 8,700 Est. Cost $139.47 Unrealized +8.6%

JBS JBS N.V. 0.3%

Value ($000) $625 Shares 43,311 Est. Cost $14.58 Unrealized -5.8%

— TOTALENERGIES SE 0.1%

Value ($000) $196 Shares 3,000 Est. Cost $61.39 Unrealized —

CIG CIA ENERGETICA DE MINAS GERA 0.1%

Value ($000) $295 Shares 147,547 Est. Cost $0.41 Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 0.9%

Value ($000) $2,027 Shares 37,700 Est. Cost $40.67 Unrealized —

UGP ULTRAPAR PARTICIPACOES SA 0.1%

Value ($000) $176 Shares 46,700 Est. Cost $0.00 Unrealized —

VTV VANGUARD INDEX FDS 0.3%

Value ($000) $640 Shares 3,350 Est. Cost $97.48 Unrealized —

SHEL SHELL PLC 0.2%

Value ($000) $367 Shares 5,000 Est. Cost $70.41 Unrealized —

BBD BANCO BRADESCO S A 0.3%

Value ($000) $626 Shares 187,900 Est. Cost $0.00 Unrealized —

CSAN COSAN S A 0.0%

Value ($000) $43 Shares 10,920 Est. Cost $0.01 Unrealized —

SID COMPANHIA SIDERURGICA NACION 0.0%

Value ($000) $89 Shares 55,740 Est. Cost $0.00 Unrealized —

BAK BRASKEM S A 0.0%

Value ($000) $28 Shares 9,510 Est. Cost $0.01 Unrealized —

EMB ISHARES TR 0.2%

Value ($000) $414 Shares 4,300 Est. Cost $96.74 Unrealized —

SCHP SCHWAB STRATEGIC TR 0.1%

Value ($000) $265 Shares 10,000 Est. Cost $43.91 Unrealized —

COP CONOCOPHILLIPS 0.1%

Value ($000) $253 Shares 2,700 Est. Cost $105.08 Unrealized -14.3%

SUZ SUZANO S A 0.1%

Value ($000) $314 Shares 33,605 Est. Cost $0.01 Unrealized —

VDE VANGUARD WORLD FDS 0.3%

Value ($000) $667 Shares 5,300 Est. Cost $88.49 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VEA	VANGUARD TAX-MANAGED INTL FD	525,600	$32,834	14.6%	$39.09	—	FTSE DEV MKT ETF	921943858
GUNR	FLEXSHARES TR	497,600	$22,815	10.2%	$30.20	—	MORNSTAR UPSTR	33939L407
FCX	FREEPORT-MCMORAN INC	81,000	$4,114	1.8%	$30.81	+40.6%	CL B	35671D857
MELI	MERCADOLIBRE INC	1,594	$3,211	1.4%	$1402.49	+49.8%	COM	58733R102
EWZ	ISHARES INC	493,400	$15,675	7.0%	$34.13	—	MSCI BRAZIL ETF	464286400
VTI	VANGUARD INDEX FDS	40,800	$13,679	6.1%	$135.67	—	TOTAL STK MKT	922908769
KOF	COCA-COLA FEMSA SAB DE CV	24,789	$2,348	1.0%	$56.23	—	SPONSORD ADR REP	191241108
VALE	VALE S A	122,010	$1,590	0.7%	$0.45	—	SPONSORED ADS	91912E105
RIO	RIO TINTO PLC	17,000	$1,361	0.6%	$59.84	—	SPONSORED ADR	767204100
GNR	SPDR INDEX SHS FDS	77,550	$4,819	2.1%	$48.74	—	GLB NAT RESRCE	78463X541
NU	NU HLDGS LTD	307,600	$5,149	2.3%	$10.49	+53.2%	ORD SHS CL A	G6683N103
VIG	VANGUARD SPECIALIZED FUNDS	52,630	$11,567	5.2%	$92.67	—	DIV APP ETF	921908844
IEMG	ISHARES INC	126,800	$8,523	3.8%	$49.30	—	CORE MSCI EMKT	46434G103
XOM	EXXON MOBIL CORP	19,200	$2,311	1.0%	$105.66	+9.3%	COM	30231G102
ACWI	ISHARES TR	43,700	$6,183	2.8%	$85.59	—	MSCI ACWI ETF	464288257
EFV	ISHARES TR	35,700	$2,549	1.1%	$46.27	—	EAFE VALUE ETF	464288877
PBR	PETROLEO BRASILEIRO SA PETRO	132,846	$1,574	0.7%	$0.01	—	SPONSORED ADR	71654V408
EMLC	VANECK ETF TRUST	316,200	$8,164	3.6%	$29.06	—	JP MRGAN EM LOC	92189H300
ABEV	AMBEV SA	387,929	$958	0.4%	$0.00	—	SPONSORED ADR	02319V103
BHP	BHP GROUP LTD	20,000	$1,207	0.5%	$50.89	—	SPONSORED ADS	088606108
STNE	STONECO LTD	22,040	$326	0.1%	$5.97	—	COM CL A	G85158106
XP	XP INC	37,068	$607	0.3%	$18.82	-6.5%	CL A	G98239109
PBR/A	PETROLEO BRASILEIRO SA PETRO	154,260	$1,739	0.8%	$0.01	—	SP ADR NON VTG	71654V101
AXIA	CENTRAIS ELETRICAS BRASILEIR	100,104	$917	0.4%	$0.01	—	SPONSORED ADR	15234Q207
GGB	GERDAU SA	86,242	$318	0.1%	$0.55	—	SPON ADR REP PFD	373737105
BSBR	BANCO SANTANDER BRASIL S A	88,050	$538	0.2%	$0.01	—	ADS REP 1 UNIT	05967A107
TIMB	TIM S A	15,760	$307	0.1%	$0.01	—	SPONSORED ADR	88706T108
VIV	TELEFONICA BRASIL SA	41,185	$488	0.2%	$0.01	—	NEW ADR	87936R205
CVX	CHEVRON CORP NEW	8,700	$1,326	0.6%	$139.47	+8.6%	COM	166764100
JBS	JBS N.V.	43,311	$625	0.3%	$14.58	-5.8%	CL A SHS	N4732M103
—	TOTALENERGIES SE	3,000	$196	0.1%	$61.39	—	SPONSORED ADS	89151E109
CIG	CIA ENERGETICA DE MINAS GERA	147,547	$295	0.1%	$0.41	—	SP ADR N-V PFD	204409601
VWO	VANGUARD INTL EQUITY INDEX F	37,700	$2,027	0.9%	$40.67	—	FTSE EMR MKT ETF	922042858
UGP	ULTRAPAR PARTICIPACOES SA	46,700	$176	0.1%	$0.00	—	SP ADR REP COM	90400P101
VTV	VANGUARD INDEX FDS	3,350	$640	0.3%	$97.48	—	VALUE ETF	922908744
SHEL	SHELL PLC	5,000	$367	0.2%	$70.41	—	SPON ADS	780259305
BBD	BANCO BRADESCO S A	187,900	$626	0.3%	$0.00	—	BANCO BRADESCO-ADR	059460303
CSAN	COSAN S A	10,920	$43	0.0%	$0.01	—	ADS	22113B103
SID	COMPANHIA SIDERURGICA NACION	55,740	$89	0.0%	$0.00	—	SPONSORED ADR	20440W105
BAK	BRASKEM S A	9,510	$28	0.0%	$0.01	—	SP ADR PFD A	105532105
EMB	ISHARES TR	4,300	$414	0.2%	$96.74	—	JPMORGAN USD EMG	464288281
SCHP	SCHWAB STRATEGIC TR	10,000	$265	0.1%	$43.91	—	US TIPS ETF	808524870
COP	CONOCOPHILLIPS	2,700	$253	0.1%	$105.08	-14.3%	COM	20825C104
SUZ	SUZANO S A	33,605	$314	0.1%	$0.01	—	SPON ADS	86959K105
VDE	VANGUARD WORLD FDS	5,300	$667	0.3%	$88.49	—	ENERGY ETF	92204A306