Naman Capital Ltda: ULTRAPAR PARTICIPACOES SA (UGP): Quarterly 13F Position History
As of Q1 2026, Naman Capital Ltda reported 12,727,222 shares of ULTRAPAR PARTICIPACOES SA (UGP), worth $63.7M and representing 17.7% of its 13F equity book. Quarter-over-quarter share count change: 960,757 (-7.0%) . The position first appeared in Q4 2020 and has been disclosed across 22 13F-HR filings in Pactolio's tracked window.
- 12,727,222Shares Held (Latest Filing)
- $63.7MReported Market Value (Latest Filing)
- 17.7%Portfolio Weight (% of 13F Equity Book)
- 960,757Quarter-over-Quarter Share Change
- +$12.1MQuarter-over-Quarter Value Change
- 16,708,667Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 22 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 12,727,222 | 960,757 | -7.0% | $63.7M | 17.7% | $5.0 |
| Q4 2025 | 13,687,979 | 392,020 | -2.8% | $51.6M | 14.5% | $3.8 |
| Q3 2025 | 14,079,999 | 0 | — | $57.7M | 16.2% | $4.1 |
| Q2 2025 | 14,079,999 | 0 | — | $46.2M | 15.0% | $3.3 |
| Q1 2025 | 14,079,999 | 0 | — | $43.4M | 17.0% | $3.1 |
| Q4 2024 | 14,079,999 | 0 | — | $37.0M | 22.1% | $2.6 |
| Q3 2024 | 14,079,999 | 0 | — | $54.9M | 21.0% | $3.9 |
| Q2 2024 | 14,079,999 | 0 | — | $55.1M | 23.4% | $3.9 |
| Q1 2024 | 14,079,999 | 0 | — | $80.5M | 31.4% | $5.7 |
| Q4 2023 | 14,079,999 | 0 | — | $76.3M | 48.6% | $5.4 |
| Q3 2023 | 14,079,999 | 2,628,668 | -15.7% | $51.7M | 41.2% | $3.7 |
| Q2 2023 | 16,708,667 | 0 | — | $65.7M | 44.6% | $3.9 |
| Q1 2023 | 16,708,667 | 0 | — | $45.6M | 40.8% | $2.7 |
| Q4 2022 | 16,708,667 | 0 | — | $40.4M | 39.5% | $2.4 |
| Q3 2022 | 16,708,667 | 0 | — | $36.6M | 27.4% | $2.2 |
| Q2 2022 | 16,708,667 | 0 | — | $39.3M | 28.0% | $2.4 |
| Q1 2022 | 16,708,667 | +1,097,620 | +7.0% | $46.1M | 30.0% | $2.8 |
| Q4 2021 | 15,611,047 | +952,498 | +6.5% | $41.2M | 24.1% | $2.6 |
| Q3 2021 | 14,658,549 | +175,000 | +1.2% | $39.6M | 24.4% | $2.7 |
| Q2 2021 | 14,483,549 | 0 | — | $54.5M | 28.4% | $3.8 |
| Q1 2021 | 14,483,549 | +11,093,112 | +327.2% | $55.3M | 30.4% | $3.8 |
| Q4 2020 | 3,390,437 | — | — | $15.4M | 10.7% | $4.5 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares — a quarter-end mark, not the manager's cost basis. See the full methodology document for the normalization rules.
When did Naman Capital Ltda first disclose a UGP position in 13F-HR filings?
Naman Capital Ltda first reported ULTRAPAR PARTICIPACOES SA (UGP) on its 13F-HR filing for the period ending 2020-12-31 (Q4 2020). The position has appeared on 22 reported quarters within Pactolio's tracked window.
What was Naman Capital Ltda's most recent quarter-over-quarter share-count change in UGP?
Between Q4 2025 and Q1 2026, Naman Capital Ltda reduced its UGP position by 960,757 shares (-7.0%), leaving 12,727,222 shares at a market value of $63.7M.
Does the implied price-per-share represent Naman Capital Ltda's cost basis in UGP?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.