Stocks/Funds/CIK 1912095

Milestones Administradora de Recursos Ltda.

long-term holderconcentrated
Quarterly 13F filings · Latest period 2026-03-31 · CIK 1912095
Assets
$383M
+95.6% YoY
Holdings
17
Lifetime alpha vs market
-4.60% annual
Average hold time
3.0 yr
median 3.3 yr

Quarterly history

Cum return +26% vs S&P +52% · α -26% lifetimeAUM $383M · peak $383MFlow $105M (+35%)2021-122022-092023-062024-032024-122025-092026-03
AUM ($B)fundS&P 500(gap = α)/ Flow in/out

Behavior signals (lifetime)

Dip response
+6.30%
adds when stocks drop
when a holding falls −10%+
Middle response
+8.25%
steady accumulation
Rally response
-5.02%
trims into rallies
when a holding rises +10%+

Top positions · 17

Ticker$ value% portYoYHold time
MSFTMicrosoft Corporation$66M17.3%-0.6%4.3 yr
LINLinde plc$50M13.0%+7.9%3.3 yr
GEGE Aerospace$47M12.2%+42.5%1.8 yr
NUNu Holdings Ltd.$40M10.5%+40.3%2.5 yr
TSMTaiwan Semiconductor Man$39M10.2%+105.6%2.0 yr
AMZNAmazon.com, Inc.$35M9.1%+9.5%4.0 yr
GOOGLAlphabet Inc.$34M8.8%4.5 yr
VVisa Inc.$20M5.3%-13.1%4.5 yr
DHRDanaher Corporation$13M3.5%-7.1%2.0 yr
MELIMercadoLibre, Inc.$12M3.2%-11.4%4.5 yr
AMDAdvanced Micro Devices, $10M2.7%+98.0%1.8 yr
MCOMoody's Corporation$7M1.8%-5.6%2.0 yr
SPGIS&P Global Inc.$3M0.7%-15.6%2.0 yr
NOWServiceNow, Inc.$2M0.6%-34.3%0.3 yr
WALDWaldencast plc$2M0.6%-68.3%3.8 yr

Portfolio composition (YoY)

Industry mix
Software - Infrastructure17.3%-2.0pp$66M
Chemicals - Specialty13.0%+11.2pp$50M
Semiconductors13.0%+7.6pp$50M
Specialty Retail12.3%-16.5pp$47M
Aerospace & Defense12.2%+5.8pp$47M
Banks - Diversified10.5%+3.3pp$40M
Internet Content & Information8.8%+0.9pp$34M
Financial - Credit Services5.3%+1.9pp$20M
Medical - Diagnostics & Research3.5%+0.6pp$13M
Financial - Data & Stock Exchanges2.5%-1.2pp$10M
Country
US63.0%-20.5pp
GB13.0%+11.2pp
BR10.5%+3.3pp
TW10.2%+6.0pp
UY3.2%-0.0pp
Top 5: 63.3% · Top 10: 93.3% · Top 25: 100.0%

Winners

TickerPrev $PnLYoY %
TSM$8M+0.01B105.6%
NU$14M+0.01B40.3%
GE$12M+0.01B42.5%
AMZN$50M+0.00B9.5%
AMD$2M+0.00B98.0%

Losers

TickerPrev $PnLYoY %
WALD$7M-0.00B-68.3%
MELI$6M-0.00B-11.4%
V$6M-0.00B-13.1%
SPGI$3M-0.00B-15.6%
MSFT$38M-0.00B-0.6%

Top buys this quarter · 10

GOOGL Alphabet Inc.+$0M
MSFT Microsoft Corporation+$34M
LIN Linde plc+$29M
NU Nu Holdings Ltd.+$13M
GE GE Aerospace+$13M
V Visa Inc.+$11M
DHR Danaher Corporation+$5M
MCO Moody's Corporation+$4M
NOW ServiceNow, Inc.new+$2M
AMD Advanced Micro Devices, Inc.+$1M

Top sells this quarter · 4

AMZN Amazon.com, Inc.$8M
TSM Taiwan Semiconductor Manufactu$7M
CVX Chevron Corporationexit$3M
COP ConocoPhillipsexit$2M

Quarterly history (TTM returns)

PeriodAUM# PosReturn (1yr)SPY (1yr)Alpha (1yr)Flow
2026-03-31$383M17+18.01%+17.59%+0.42%+0.11B
2025-12-31$303M18+20.70%+17.72%+2.98%+0.01B
2025-09-30$286M18+18.31%+17.52%+0.79%-0.03B
2025-06-30$292M19+11.91%+14.94%-3.04%+0.06B
2025-03-31$196M22-4.87%+8.30%-13.17%+0.01B
2024-12-31$197M22+5.98%+24.89%-18.91%-0.06B
2024-09-30$251M29+25.10%+36.04%-10.94%+0.01B
2024-06-30$238M28+22.92%+24.49%-1.57%+0.05B
2024-03-31$186M18+37.46%+29.62%+7.83%+0.05B
2023-12-31$127M11+53.45%+26.18%+27.27%-0.03B
2023-09-30$136M10+26.47%+21.57%+4.91%-0.00B
2023-06-30$141M10+27.12%+19.42%+7.70%-0.03B
2023-03-31$156M12-18.31%-7.82%-10.49%-0.00B
2022-12-31$136M14-2.41%+7.56%-9.97%-0.01B
2022-09-30$147M19-0.36%-4.93%+4.57%+0.01B
2022-06-30$137M19-28.08%-16.11%-11.97%+0.06B