Constellation Asset Management
Constellation Asset Management is an SEC-registered investment adviser based in Sao Paulo, Brazil that reports managing 1 hedge fund on Form ADV. It reports $526.4 million in regulatory assets under management. Its private funds, of all types, hold $111.0 million in gross assets. Its disclosed U.S. stock holdings returned an estimated +35.0% 2025 YTD through Sep 30 (S&P 500: +13.7%), based on 13F filings. Over a longer period they returned an estimated +21.8% from Q3 2024 to Q3 2025, compared with +22.4% for the S&P 500, based on 13F filings.
- Regulatory assets under management
- $526.4 millionForm ADV Item 5.F
- Gross assets of private funds
- $111.0 millionAll private fund types, Form ADV
- Hedge funds managed
- 11 private funds in total
- Employees
- 24Form ADV Item 5.A
- Registration
- SEC-registered adviserCRD 157140
- Latest Form ADV
- 03/31/2026Disciplinary disclosures: none reported
Estimated 13F portfolio performance
| Quarter | Est. 13F return | S&P 500 |
|---|---|---|
| Q3 2025 | -2.9% | +7.8% |
| Q2 2025 | +29.0% | +10.4% |
| Q1 2025 | +7.8% | -4.5% |
| Q4 2024 | -21.0% | +2.1% |
| Q3 2024 | +14.2% | +5.4% |
Estimate of the firm's disclosed long U.S. stock portfolio from its quarterly 13F filings, holding each quarter-end portfolio to the next quarter-end at prices implied by all 13F filers. It is a price return before dividends and fees, ignores shorts, options, bonds, cash and trading within the quarter, and is not the return of any fund. Disclosures
Largest disclosed holdings
- Mercadolibre Inc$22.5 million
- Nu Holdings LTD$21.2 million
- Meta Platforms, Inc.$903,287
- Nvidia Corp$697,809
- Coupang Inc CL A$550,942
- Microsoft Corp Com$495,160
- Amazon Com Inc Com$333,527
As of 2025-09-30, from 13F filing by Constellation Investimentos e Participacoes Ltda.
From SEC filings. Firm data comes from the SEC's Form ADV data as of Oct 2, 2026; performance estimates come from Form 13F. HedgeMountain has not verified this information, and it is not an offer, solicitation or recommendation. Full disclosures