JGP HEDGE MASTER
Multimercados Livre · CNPJ 10.841.389/0001-51
Portfolio as of September 2025
AUM
R$62.6M
In stocks
R$2.8M
Stocks
14
YTD
▲ 11.5%
12 months
▲ 15.5%
Past performance is no guarantee of future results.
Quota
Month-end; daily in recent months
Disclosed so far
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Hatched months still have confidential positions.
Portfolio
Changes vs. August 2025
| Stock | Company | % of stock portfolio | Value | Month | Since then | Sector |
|---|---|---|---|---|---|---|
 ITSA4 | Itausa SA | 34.5% | R$957.9K | Trimmed−R$431.3K | ▲ 37.8% | Finance |
 VALE3 | Vale S.A. | 21.0% | R$581.6K | Trimmed−R$63.3K | ▲ 13.7% | Non-Energy Minerals |
 SRNA3 | – | 15.8% | R$437.2K | Held | – | Other |
 ITUB4 | Itau Unibanco Holding SA | 12.0% | R$332.9K | AddedR$293.8K | ▲ 28.7% | Finance |
 BRAP4 | Bradespar SA | 4.6% | R$128.7K | New | ▲ 18.4% | Finance |
 NEOE3 | – | 3.2% | R$89.0K | AddedR$51.7K | – | Other |
 B3SA3 | B3 SA - Brasil, Bolsa, Balcao | 3.1% | R$87.1K | Trimmed−R$49.6K | ▲ 76.9% | Finance |
 BBAS3 | Banco do Brasil S.A. | 2.7% | R$75.1K | AddedR$35.3K | ▲ 9.6% | Finance |
 VBBR3 | Vibra Energia SA | 0.9% | R$24.6K | Trimmed−R$49.2K | ▲ 59.8% | Retail Trade |
 PETR4 | Petroleo Brasileiro SA | 0.7% | R$18.9K | AddedR$9.4K | ▲ 85.0% | Energy Minerals |
 COCE5 | Companhia Energetica do Ceara-COELCE | 0.5% | R$15.0K | Held | ▲ 26.0% | Utilities |
 ABEV3 | Ambev SA | 0.4% | R$10.9K | New | ▲ 39.4% | Consumer Non-Durables |
 SMFT3 | Smartfit Escola de Ginastica e Danca SA | 0.3% | R$8.0K | Trimmed−R$8.0K | ▼ 3.9% | Consumer Services |
 BEEF3 | Minerva S.A. | 0.3% | R$7.4K | New | ▼ 35.9% | Distribution Services |
Short positions
Borrowed shares the fund has to return
