Vinland Capital Management Gestora de Recursos LTDA.

Portfolio Overview

Vinland Capital Management Gestora de Recursos LTDA. disclosed 16 positions worth $10.1M in its Form 13F-HR for Q2 2026, led by $SPY (SPDR S&P 500 ETF TRUST) at 48.0% of the equity portfolio, followed by $TX and $ITUB. During the quarter the fund opened 7 new positions and exited 36 — including a new stake in $TX and a full exit from $GOOG. The portfolio is most concentrated in Other (56.4% of disclosed assets). All figures are sourced directly from Vinland Capital Management Gestora de Recursos LTDA.’s Form 13F-HR filing with the SEC under CIK 1944332.

• 

  SPDR S&P 500 ETF TRUST

  $SPY

  —

  Quality

  $4.9M6,523 sh
• 

  Ternium S.A.

  $TX

  —

  Quality

  $1.6M37,300 sh
• 

  Itau Unibanco Holding S.A.

  $ITUB

  —

  Quality

  $1.2M148,674 sh
• 

  Anheuser-Busch InBev SA/NV

  $BUD

  —

  Quality

  $832.2K10,100 sh
• 

  Vale S.A.

  $VALE

  —

  Quality

  $786.6K52,300 sh

• SELECT SECTOR SPDR TR - ST STR MATER ETF

  —

  Quality

  $310.6K550 sh

• ISHARES TR - S&P 100 ETF

  —

  Quality

  $165.7K50 sh

• ROUNDHILL ETF TRUST - S&P 500 ODTE COV

  —

  Quality

  $152.8K400 sh

• ISHARES INC - MSCI JAPAN ETF

  —

  Quality

  $120.6K250 sh
• 

  INVESCO QQQ TRUST, SERIES 1

  $QQQ

  —

  Quality

  $102.8K27 sh

Company	Quality	Value	Shares
SPDR S&P 500 ETF TRUST$SPY	—	$4.9M	6,523
Ternium S.A.$TX	—	$1.6M	37,300
Itau Unibanco Holding S.A.$ITUB	—	$1.2M	148,674
Anheuser-Busch InBev SA/NV$BUD	—	$832.2K	10,100
Vale S.A.$VALE	—	$786.6K	52,300
SELECT SECTOR SPDR TR - ST STR MATER ETF	—	$310.6K	550
ISHARES TR - S&P 100 ETF	—	$165.7K	50
ROUNDHILL ETF TRUST - S&P 500 ODTE COV	—	$152.8K	400
ISHARES INC - MSCI JAPAN ETF	—	$120.6K	250
INVESCO QQQ TRUST, SERIES 1$QQQ	—	$102.8K	27

Showing top 10 of 16 holdings.

Full Holdings — Vinland Capital Management Gestora de Recursos LTDA. (Q2 2026)

All 16 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	$SPY	SPDR S&P 500 ETF TRUST	$4.9M	48.0%	+0%	—
2	$TX	Ternium S.A.	$1.6M	15.7%	NEW	—
3	$ITUB	Itau Unibanco Holding S.A.	$1.2M	12.0%	NEW	—
4	$BUD	Anheuser-Busch InBev SA/NV	$832,240	8.2%	NEW	—
5	$VALE	Vale S.A.	$786,592	7.8%	NEW	—
6	—	SELECT SECTOR SPDR TR - ST STR MATER ETF	$310,618	3.1%	NEW	—
7	—	ISHARES TR - S&P 100 ETF	$165,720	1.6%	NEW	—
8	—	ROUNDHILL ETF TRUST - S&P 500 ODTE COV	$152,799	1.5%	NEW	—
9	—	ISHARES INC - MSCI JAPAN ETF	$120,612	1.2%	NEW	—
10	$QQQ	INVESCO QQQ TRUST, SERIES 1	$102,846	1.0%	NEW	—
11	—	ISHARES TR - S&P 100 ETF	$0	—	-100%	—
12	$DLO	dLocal Ltd	$0	0.0%	-100%	—
13	$NU	Nu Holdings Ltd.	$0	0.0%	-100%	—
14	$STNE	StoneCo Ltd.	$0	0.0%	-100%	—
15	—	SELECT SECTOR SPDR TR - STATE STREET MAT	$0	0.0%	-100%	—
16	$SOBO	South Bow Corp	$0	0.0%	-100%	—