SHUL4

Schulz S.A.Non-Cum Perp · Producer Manufacturing

Portfolios as of March 2026

Price

R$5.30

▲ 24.0% over 1 month

All funds holding it

+2 this month

Value across all funds

R$243.1M

portfolios of Mar/26

Sold short

R$1.4M

7 funds

Largest holders

Equity and multi-strategy funds with AUM of R$ 50M or more

1
Trígono Capital TRÍGONO FLAGSHIP SMALL CAPS MASTER
HeldR$76.0M
2
Real Investor REAL INVESTOR MASTER
HeldR$51.7M
3
Real Investor REAL INVESTOR MASTER
AddedR$20.4M
4
Trígono Capital TRÍGONO ICATU 100
HeldR$13.5M
5
Trígono Capital TRIGONO VERBIER MASTER
AddedR$11.2M
6
Real Investor REAL INVESTOR INSTITUCIONAL MASTER
HeldR$4.8M
7
SFA PORTO SFA MASTER
AddedR$3.9M

Month by month

Number of shares at each month-end

Fund	Position	Mar/26	Feb/26	Jan/26	Dec/25	Nov/25	Oct/25
Trígono Capital · TRÍGONO FLAGSHIP SMALL CAPS MASTER	Held	14.7M	14.6M	14.6M	14.7M	14.6M	14.6M
Real Investor · REAL INVESTOR MASTER	Held	10M	9.9M	9.9M	9.9M	9.9M	9.7M
Real Investor · REAL INVESTOR MASTER	Added	3.9M	3.8M	4M	4.3M	4.3M	4.4M
Trígono Capital · TRÍGONO ICATU 100	Held	2.6M	2.6M	2.7M	2.6M	2.6M	2.6M
Trígono Capital · TRIGONO VERBIER MASTER	Added	2.2M	2.1M	2.1M	2.1M	2M	2.1M
Real Investor · REAL INVESTOR INSTITUCIONAL MASTER	Held	925.6K	916.9K	865.5K	858.5K	950.2K	955.6K
SFA · PORTO SFA MASTER	Added	750.9K	711K	13.6K	–	–	–
Real Investor · REAL INVESTOR ALPHA MASTER	Held	613.2K	625.5K	685.9K	650.4K	622.7K	592.2K
Bayes Capital · AZ QUEST BAYES SISTEMÁTICO	Added	586.1K	322.6K	404K	408.9K	424.8K	556.3K
Banrisul · BANRISUL	Held	530.5K	530.5K	530.5K	530.5K	530.5K	530.5K
Real Investor · RATIONAL INVESTOR	Held	526.9K	536.9K	555.5K	564.8K	588.3K	586.6K
Andbank · MULTIVALOR	Trimmed	335K	415K	480K	500K	530K	560K
Impacto · IMPACTO VALUATION	Trimmed	300K	310K	310K	310K	330K	330K
Real Investor · REAL INVESTOR GERDAU PREVIDÊNCIA	Added	284.2K	264.3K	265.5K	272.4K	275.9K	271K
Real Investor · REAL INVESTOR ITAÚ VIDA E PREVIDÊNCIA MASTER	Added	275.2K	254.6K	232.7K	209.5K	186.3K	169.9K
Bayes Capital · AZ QUEST BAYES LONG SHORT SISTEMÁTICO MASTER	Added	35.1K	22.9K	22.9K	22.9K	22.9K	29.3K
Giant Steps Capital · GIANT ZARATHUSTRA MASTER	Trimmed	21.3K	23.2K	4.5K	–	–	206.8K
ACE Capital Saires · ACE CAPITAL DINÂMICO MASTER	Added	6.2K	5.6K	5.2K	5.6K	5.6K	–
BB · BB TOP MULTIMERCADO BALANCEADO	Held	1.2K	1.2K	1.2K	28.9K	2.3K	19.1K
AZ Quest · AZ QUEST LOW VOL	Held	700	700	10.7K	700	700	700
UBS Brasil · UBS EVOLUTION AÇÕES LONG BIAS MASTER	New	–	–	–	–	–	–
UBS Brasil · UBS EVOLUTION PREVIDENCIÁRIO MACRO STRATEGIES MASTER	New	–	–	–	–	–	–
Zenith · ZENITH VITÓRIA RÉGIA	Exited	–	383.5K	383.5K	383.5K	383.5K	–
Verde · VERDE EQUITY MASTER	New	–	–	–	–	–	–
Verde · VERDE AM TAU MASTER	New	–	–	–	–	–	–

Funds holding it

All CVM funds

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Insiders

VLMO form, ten days after month-end

Sep/26Controlador+R$123.3K
Aug/26Controlador+R$171.4K
Jul/26Controlador+R$365.4K