OCCAM EQUITY HEDGE
Multimercados Livre · CNPJ 11.490.618/0001-01
Portfolio as of January 2026
AUM
R$137.9M
In stocks
R$20.4M
Stocks
50
YTD
▲ 8.3%
12 months
▲ 10.8%
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. December 2025
| Stock | Company | % of stock portfolio | Value | Month | Since then | Sector |
|---|---|---|---|---|---|---|
 CPLE3 | Companhia Paranaense de Energia | 8.2% | R$1.7M | Trimmed−R$1.3M | ▲ 33.9% | Utilities |
 EQTL3 | Equatorial S.A. | 6.8% | R$1.4M | Trimmed−R$700.1K | ▲ 21.2% | Utilities |
 PRIO3 | Prio SA | 6.7% | R$1.4M | AddedR$628.8K | ▲ 39.7% | Energy Minerals |
 VALE3 | Vale S.A. | 6.2% | R$1.3M | Trimmed−R$341.6K | ▼ 22.4% | Non-Energy Minerals |
 RDOR3 | Rede D'Or Sao Luiz SA | 6.2% | R$1.3M | Trimmed−R$189.6K | ▲ 4.0% | Health Services |
 RENT3 | Localiza Rent A Car SA | 6.0% | R$1.2M | Trimmed−R$31.2K | ▲ 9.2% | Finance |
 DIRR3 | Direcional Engenharia S.A. | 5.6% | R$1.2M | Trimmed−R$735.9K | ▼ 18.1% | Finance |
 SMFT3 | Smartfit Escola de Ginastica e Danca SA | 5.5% | R$1.1M | Trimmed−R$1.7M | ▲ 15.9% | Consumer Services |
 CSMG3 | Companhia de Saneamento de Minas Gerais | 5.1% | R$1.0M | AddedR$191.6K | ▲ 24.2% | Utilities |
 BPAC11 | Banco BTG Pactual SA | 4.9% | R$995.6K | AddedR$64.3K | ▲ 36.3% | Finance |
 CYRE3 | Cyrela Brazil Realty SA Empreendimentos e Participacoes | 4.1% | R$841.9K | New | ▲ 15.1% | Finance |
 RAIZ4 | Raizen SA | 3.4% | R$693.7K | AddedR$693.5K | ▼ 60.2% | Retail Trade |
 CURY3 | Cury Construtora e Incorporadora SA | 3.3% | R$664.4K | Trimmed−R$746.1K | ▼ 5.2% | Finance |
 CSNA3 | Companhia Siderurgica Nacional | 3.1% | R$626.4K | New | ▼ 40.3% | Non-Energy Minerals |
 CMIG3 | Companhia Energetica de Minas Gerais SA | 2.4% | R$494.1K | Held | ▲ 18.0% | Utilities |
 BBSE3 | BB Seguridade Participacoes SA | 2.4% | R$479.8K | AddedR$479.3K | ▲ 13.4% | Finance |
 VIVA3 | Vivara Participacoes SA | 2.1% | R$433.7K | Trimmed−R$186.0K | ▼ 2.0% | Consumer Durables |
 USIM5 | Usinas Siderurgicas de Minas Gerais SA-Usiminas | 2.1% | R$426.5K | AddedR$424.6K | ▲ 7.6% | Non-Energy Minerals |
 NEOE3 | – | 2.1% | R$424.4K | AddedR$171.7K | – | Other |
 BRKM5 | Braskem S.A. | 1.9% | R$388.2K | AddedR$386.8K | ▼ 54.9% | Process Industries |
 ABEV3 | Ambev SA | 1.6% | R$335.6K | AddedR$117.3K | ▲ 13.5% | Consumer Non-Durables |
 ENEV3 | Eneva S.A. | 1.5% | R$296.9K | AddedR$84.2K | ▲ 51.5% | Utilities |
 RADL3 | Raia Drogasil S.A. | 1.2% | R$247.3K | AddedR$183.2K | ▼ 11.8% | Retail Trade |
 VBBR3 | Vibra Energia SA | 1.0% | R$195.2K | New | ▲ 27.5% | Retail Trade |
 ASAI3 | Sendas Distribuidora SA | 0.8% | R$166.7K | AddedR$166.3K | ▲ 63.1% | Retail Trade |
 EMBJ3 | Embraer S.A. | 0.7% | R$152.2K | New | ▼ 6.3% | Electronic Technology |
 EGIE3 | ENGIE Brasil Energia S.A. | 0.7% | R$134.5K | New | ▼ 4.7% | Utilities |
 SUZB3 | Suzano S.A. | 0.6% | R$128.3K | AddedR$113.5K | ▼ 14.0% | Process Industries |
 ITUB4 | Itau Unibanco Holding SA | 0.5% | R$107.4K | Trimmed−R$731.9K | ▲ 7.3% | Finance |
 GGBR4 | Gerdau S.A. | 0.5% | R$107.0K | AddedR$86.8K | ▲ 17.1% | Non-Energy Minerals |
 CSAN3 | Cosan S.A. | 0.5% | R$106.2K | AddedR$105.6K | ▼ 10.7% | Utilities |
 BBDC4 | Banco Bradesco SA | 0.4% | R$90.5K | Trimmed−R$278.2K | ▼ 3.0% | Finance |
 CPFE3 | CPFL Energia S.A. | 0.4% | R$87.6K | AddedR$79.8K | ▼ 2.7% | Utilities |
 CXSE3 | Caixa Seguridade Participacoes SA | 0.4% | R$73.0K | New | ▲ 23.0% | Finance |
 GOAU4 | Metalurgica Gerdau SA | 0.3% | R$60.5K | AddedR$53.5K | ▲ 20.9% | Non-Energy Minerals |
 RENT4 | Localiza Rent A Car SA | 0.2% | R$38.2K | Held | ▲ 10.1% | Finance |
 PETR3 | Petroleo Brasileiro SA | 0.1% | R$24.4K | Trimmed−R$217.9K | ▲ 60.6% | Energy Minerals |
 ALOS3 | Allos S.A. | 0.1% | R$23.9K | Trimmed−R$15.5K | ▲ 15.5% | Finance |
 ALPA4 | Alpargatas SA | 0.1% | R$17.1K | Held | ▲ 24.8% | Consumer Non-Durables |
 PETR4 | Petroleo Brasileiro SA | 0.1% | R$12.6K | Trimmed−R$675.8K | ▲ 54.2% | Energy Minerals |
 WEGE3 | WEG SA | 0.0% | R$5.2K | Trimmed−R$49.0K | ▼ 5.7% | Producer Manufacturing |
 UGPA3 | Ultrapar Participacoes S.A. | 0.0% | R$5.1K | Trimmed−R$128.0K | ▲ 56.7% | Retail Trade |
 RAIL3 | Rumo SA | 0.0% | R$4.4K | New | ▲ 30.8% | Transportation |
 RECV3 | Petroreconcavo SA | 0.0% | R$2.3K | AddedR$1.5K | ▲ 12.7% | Energy Minerals |
 CEAB3 | C&A Modas SA | 0.0% | R$1.4K | Trimmed−R$543.0K | ▲ 19.6% | Retail Trade |
 DASA3 | Diagnosticos da America S.A. | 0.0% | R$639 | New | ▲ 32.4% | Health Services |
 CVCB3 | CVC Brasil Operadora e Agencia de Viagens SA | 0.0% | R$586.88 | AddedR$28.82 | ▼ 36.3% | Consumer Services |
 MGLU3 | Magazine Luiza S.A. | 0.0% | R$518.87 | New | ▲ 38.7% | Retail Trade |
 AXIA3 | AXIA Energia SA | 0.0% | R$434.96 | Trimmed−R$65.5K | ▲ 9.0% | Utilities |
 CMIN3 | CSN Mineracao SA | 0.0% | R$11.78 | Trimmed−R$6.0K | ▼ 15.1% | Non-Energy Minerals |
Short positions
Borrowed shares the fund has to return
VALE3R$6.8MPETR3R$5.0MITUB4R$3.7MABEV3R$3.7MBBDC4R$3.2MPETR4R$2.8M
B3SA3R$2.6M
BBAS3R$2.3MWEGE3R$2.3MBBSE3R$2.3M
SBSP3R$2.0MEMBJ3R$2.0M
CMIG4R$1.9MAXIA3R$1.8MCXSE3R$1.6MEGIE3R$1.5M
BRAP4R$1.3M
ITSA4R$1.3M
TAEE11R$1.3MSUZB3R$1.2M
KLBN11R$1.2M
BBDC3R$1.1MASAI3R$1.1M
LREN3R$1.1MRAIZ4R$1.1MRECV3R$1.0M
VIVT3R$995.5KVBBR3R$954.4KCPFE3R$801.5K
MOTV3R$799.3K