CI
Constellation Investimentos e Participacoes Ltda Historical SEC 13F Holdings & Archive (Q3 2025)
Constellation Investimentos e Participacoes LtdaCIK: 0001893840
Concentrated strategySector-focusedMomentum follower
Total reported value
$46.7M
Reporting period: 2025-09-30 · Number of holdings: 7
Constellation Investimentos e Participacoes Ltda disclosed 7 holdings in its latest 13F filing for the period ending 2025-09-30, with total reported value of $46.7M and a quarterly turnover rate of 57.2%.
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Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 57.22
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 14
- Sizing Uniformity
- 84.44
Constellation Investimentos e Participacoes Ltda's disclosed holdings carry a Herfindahl concentration index of 0.440 — mathematically equivalent to about 2 equally-sized positions, well below its 7 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.56), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 34.5 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 55% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd NU
-4.4% $13.3M
Trim MELI
+4.5% $4.9M
Add NVDA
+0.5% $288.1K
Trim META
0.0% $182.8K
Sold out G02532102
Sold out ITUB
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MELI | Mercadolibre Inc | Stock-Consumer Disc | 48.22% | -0.87% | +4.52% | |
| 2 | NU | Nu Holdings Ltd. | Stock-Financials | 45.40% | +23.45% | -4.41% | |
| 3 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.93% | -0.08% | — | |
| 4 | NVDA | Nvidia CORP | Stock-Tech | 1.49% | +0.35% | +0.54% | |
| 5 | CPNG | Coupang Inc | Stock-Consumer Disc | 1.18% | +1.18% | NEW | |
| 6 | MSFT | Microsoft CORP | Stock-Tech | 1.06% | +1.06% | NEW | |
| 7 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 0.71% | +0.71% | NEW |
Portfolio Performance
Performance for Q3 2026
+11.4%
Performance Last 4 Quarters
-11.3%
- Stdev
- +33.7%
- Beta
- +0.96
- Alpha
- -2.4%
- Max Drawdown
- -23.8%
- Annualized Perf
- +12.1%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +0.97
- Stutzer
- +0.15
- Treynor
- +0.17
- Sterling
- +0.42
- Calmar
- +0.51
- Information Ratio
- -0.1
- Tracking Error
- +31.4%
- Stdev Down
- +17.3%
- Winning Months %
- +50%
- Losing Months %
- +50%
- Best 12 Months
- +55.3%
- Worst 12 Months
- -20%
- Efficiency Ratio
- +0.16
- Sharpe
- +0.5
- Stdev Sectors
- +41.3%
- Skewness
- +0.88
- Kurtosis
- +0.96
- Upside Potential
- +2.95
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2025 Q3 | 7 | $46.7M | 57 | ||
| 2025 Q2 | 8 | $55.8M | 0 | ||
| 2025 Q1 | 10 | $35.9M | 0 | ||
| 2024 Q4 | 10 | $103.4M | 0 | ||
| 2024 Q3 | 12 | $180.6M | 0 | ||
| 2024 Q2 | 11 | $200.8M | 0 | ||
| 2024 Q1 | 8 | $241.9M | 0 | ||
| 2023 Q4 | 8 | $284.0M | 0 | ||
| 2023 Q3 | 5 | $112.9M | 0 | ||
| 2023 Q2 | 7 | $106.0M | 0 | ||
| 2023 Q1 | 5 | $118.9M | 0 | ||
| 2022 Q4 | 5 | $68.7M | 0 | ||
| 2022 Q3 | 7 | $112.1M | 0 | ||
| 2022 Q2 | 6 | $135.6M | 0 | ||
| 2022 Q1 | 7 | $231.9M | 0 | ||
| 2021 Q4 | 8 | $267.6M | 0 | ||
| 2021 Q3 | 10 | $363.2M | 0 | ||
| 2021 Q2 | 9 | $425.6M | 0 | ||
| 2021 Q1 | 7 | $430.3M | 0 | ||
| 2020 Q4 | 7 | $513.2M | 0 | ||
| 2020 Q3 | 6 | $376.8M | 0 | ||
| 2020 Q2 | 4 | $364.4M | 0 | ||
| 2020 Q1 | 3 | $154.2M | 0 | ||
| 2019 Q4 | 5 | $198.2M | 0 | ||
| 2019 Q3 | 3 | $179.0M | 0 | ||
| 2019 Q2 | 6 | $107.5M | 0 | ||
| 2019 Q1 | 5 | $119.3M | 0 |
Holding changes this quarter
Constellation Investimentos e Participacoes Ltda's most significant position changes for 2025-09-30: Sold out: Ambipar Emergency Response; Sold out: Itau Unibanco H-spon Prf Adr (ITUB); Sold out: Petroleo Brasil-sp Pref Adr (PBR-A); Sold out: XPeng Inc. (XPEV); Sold out: StoneCo Ltd. (STNE).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | NU | Nu Holdings Ltd. | +23.5% | -4.41% | Add |
| 2 | NVDA | Nvidia CORP | +0.4% | +0.54% | Trim |
| 3 | META | Meta Platforms Inc-class A | -0.1% | — | Trim |
| 4 | MELI | Mercadolibre Inc | -0.9% | +4.52% | Add |
| 5 | ✓ | Ambipar Emergency Response | — | EXIT | Sold out |
| 6 | ITUB | Itau Unibanco H-spon Prf Adr | — | EXIT | Sold out |
| 7 | PBR-A | Petroleo Brasil-sp Pref Adr | — | EXIT | Sold out |
| 8 | XPEV | XPeng Inc. | — | EXIT | Sold out |
| 9 | STNE | StoneCo Ltd. | — | EXIT | Sold out |
| 10 | CPNG | Coupang Inc | — | NEW | New buy |
| 11 | MSFT | Microsoft CORP | — | NEW | New buy |
| 12 | AMZN | Amazon.com Inc | — | NEW | New buy |
| 13 | BX | Blackstone Inc | — | EXIT | Sold out |
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Filing History
FAQ
What is Constellation Investimentos e Participacoes Ltda and what type of investor is it?
Constellation Investimentos e Participacoes Ltda is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2025-09-30), the firm manages a tracked equity portfolio valued at approximately $46.7M, spread across 7 disclosed positions.
What are Constellation Investimentos e Participacoes Ltda's largest equity positions?
Based on the latest 13F filing, Constellation Investimentos e Participacoes Ltda's top holdings by market value are:
1. Mercadolibre Inc (MELI) — $22.5M (48.2%)
2. Nu Holdings Ltd. (NU) — $21.2M (45.4%)
3. Meta Platforms Inc-class A (META) — $903.3K (1.9%)
4. Nvidia CORP (NVDA) — $697.8K (1.5%)
5. Coupang Inc (CPNG) — $550.9K (1.2%)
What changes did Constellation Investimentos e Participacoes Ltda make in its most recent portfolio filing?
In the latest reported quarter, Constellation Investimentos e Participacoes Ltda made 13 notable position adjustments: 3 new positions were initiated, 2 existing holdings were added to, 2 positions were partially reduced, and 6 were completely exited. The largest of these moves: Sold out: Ambipar Emergency Response; Sold out: Itau Unibanco H-spon Prf Adr (ITUB); Sold out: Petroleo Brasil-sp Pref Adr (PBR-A); Sold out: XPeng Inc. (XPEV); Sold out: StoneCo Ltd. (STNE)
What sectors does Constellation Investimentos e Participacoes Ltda focus on?
Constellation Investimentos e Participacoes Ltda is concentrated in the following sectors based on its current disclosed equity portfolio:
• Consumer Discretionary: 91.8%
• Information Technology: 4.7%
• Communication Services: 3.5%
Investment Profile
Constellation Investimentos e Participacoes Ltda returned an annualized 12.1% over the trailing 36 months — underperforming the S&P 500 by 2.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.96 (roughly in line with the market) and a 42% quarterly batting average against the index.
Its portfolio is concentrated and fast-trading, with 91.8% of the portfolio concentrated in Consumer Discretionary.
Its turnover score has risen from 0 to 57 over the past 4 quarters — a shift toward more active trading.
It has added to its NU position for two straight quarters, increasing it by $13.3M to reach $21.2M.
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Developer Access
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