SQUADRA INVESTMENTS - GESTAO DE RECURSOS LTDA.

RIO DE JANEIRO, D5 · CIK 1577806 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2012 · other (specify)

As an employer

$714.8m reported value -20.1% vs Q1 2026

4positions

100.0%in top 10

0 new 2 added 2 reduced 2 sold out vs Q1 2026

Options: 1 call positions ($28.5m notional), 1 put positions ($71.2m notional) – listed below, not included above.

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	NU HLDGS LTD ORD SHS CL A NU	NU	24,533,236	$327.8m45.85%	45.85%	Added +2.2m	+2,220,735 9.9%
2	MERCADOLIBRE INC COM MELI	MELI	171,881	$291.7m40.81%	40.81%	Reduced -31.0k	-31,049 -15.3%
3	INTER & CO INC CLASS A COM INTR	INTR	10,069,301	$54.7m7.65%	7.65%	Added +3.7m	+3,748,349 59.3%
4	STONECO LTD COM CL A STNE	STNE	3,747,170	$40.6m5.68%	5.68%	Reduced -2.9m	-2,915,083 -43.8%

Security	Ticker	Shares held before	Value then
XP INC XP	XP	3,909,501	$74.4m3.9m shares
VALE S A VALE	VALE	240,000	$3.8m240.0k shares

Underlying	Ticker	Type	Shares controlled	Notional	Change
INVESCO QQQ TR QQQ · Put	QQQ	Put	96,700	$71.2m96.7k shares	New
MERCADOLIBRE INC MELI · Call	MELI	Call	16,800	$28.5m16.8k shares	New