KAPITALO MASTER II
Multimercados Livre · CNPJ 12.083.748/0001-84 · benchmark Não se aplica
Portfolio as of February 2026
AUM
R$3.1B
In stocks
R$3.0B
Stocks
102
YTD
▲ 2.1%
12 months
▲ 5.7%
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. January 2026
| Stock | Company | % of stock portfolio | Value | Month | Since then | Sector |
|---|---|---|---|---|---|---|
 EMBJ3 | Embraer S.A. | 14.3% | R$425.0M | Held | ▼ 1.7% | Electronic Technology |
 SUZB3 | Suzano S.A. | 12.4% | R$367.5M | Trimmed−R$10.1M | ▼ 26.9% | Process Industries |
 VBBR3 | Vibra Energia SA | 9.1% | R$269.8M | Trimmed−R$5.8M | ▲ 22.6% | Retail Trade |
 NEOE3 | – | 8.2% | R$245.3M | Held | – | Other |
 LREN3 | Lojas Renner S.A. | 7.0% | R$208.8M | Trimmed−R$6.8M | ▼ 4.2% | Retail Trade |
 MBRF3 | MBRF Global Foods Company S.A. | 6.2% | R$185.4M | Trimmed−R$4.9M | ▼ 10.3% | Consumer Non-Durables |
 BRAV3 | Brava Energia SA | 5.0% | R$147.6M | Trimmed−R$5.6M | ▲ 12.5% | Energy Minerals |
 PSSA3 | Porto Seguro S.A. | 4.1% | R$121.7M | Trimmed−R$4.1M | ▲ 0.6% | Finance |
 XPBR31 | XP Inc. | 3.6% | R$108.4M | Trimmed−R$31.8M | ▲ 42.9% | BDR |
 USIM5 | Usinas Siderurgicas de Minas Gerais SA-Usiminas | 3.1% | R$92.9M | Trimmed−R$4.0M | ▼ 4.1% | Non-Energy Minerals |
 ITUB4 | Itau Unibanco Holding SA | 2.9% | R$86.9M | AddedR$48.5M | ▲ 4.3% | Finance |
 ECOR3 | EcoRodovias Infraestrutura e Logistica S.A. | 2.8% | R$82.2M | Trimmed−R$7.0M | ▲ 28.4% | Transportation |
 NATU3 | Natura Cosmeticos SA | 2.0% | R$60.1M | Trimmed−R$1.4M | ▼ 16.0% | Consumer Non-Durables |
 CMIG4 | Companhia Energetica de Minas Gerais SA | 1.8% | R$53.9M | AddedR$2.4M | ▼ 2.0% | Utilities |
 GMAT3 | Grupo Mateus SA | 1.6% | R$48.0M | Trimmed−R$2.5M | ▼ 1.4% | Retail Trade |
 HAPV3 | Hapvida Participacoes e Investimentos SA | 1.3% | R$39.7M | Trimmed−R$3.1M | ▼ 9.0% | Health Services |
 AXIA7 | AXIA Energia SA | 1.2% | R$35.4M | AddedR$9.5M | ▲ 0.7% | Utilities |
 VALE3 | Vale S.A. | 1.1% | R$33.8M | AddedR$21.8M | ▼ 26.0% | Non-Energy Minerals |
 TIMS3 | TIM S.A. | 0.9% | R$27.6M | AddedR$3.6M | ▼ 31.8% | Communications |
 ONCO3 | Oncoclinicas do Brasil Servicos Medicos SA | 0.9% | R$25.8M | Trimmed−R$1.3M | ▼ 60.4% | Health Services |
 FLRY3 | Fleury SA | 0.8% | R$22.5M | Trimmed−R$8.5M | ▲ 67.7% | Health Services |
 CSNA3 | Companhia Siderurgica Nacional | 0.6% | R$18.9M | AddedR$437.6K | ▼ 30.3% | Non-Energy Minerals |
 RECV3 | Petroreconcavo SA | 0.6% | R$16.8M | Held | ▲ 3.4% | Energy Minerals |
 BBDC4 | Banco Bradesco SA | 0.5% | R$16.3M | New | ▼ 2.2% | Finance |
 LWSA3 | LWSA S.A. | 0.5% | R$15.3M | Trimmed−R$782.3K | ▲ 55.2% | Technology Services |
 AURE3 | Auren Energia SA | 0.5% | R$15.2M | Held | ▲ 28.2% | Utilities |
 TGMA3 | Tegma Gestao Logistica S.A. | 0.5% | R$14.4M | Trimmed−R$738.8K | ▲ 27.8% | Transportation |
 CBAV3 | Companhia Brasileira de Aluminio | 0.5% | R$14.1M | New | ▲ 11.0% | Non-Energy Minerals |
 HYPE3 | Hypera S.A. | 0.4% | R$12.2M | AddedR$578.4K | ▲ 18.1% | Health Technology |
 PETR4 | Petroleo Brasileiro SA | 0.4% | R$10.6M | AddedR$256.2K | ▲ 48.0% | Energy Minerals |
 LIGT3 | Light S.A. | 0.3% | R$10.1M | Trimmed−R$515.0K | ▼ 23.3% | Utilities |
 B3SA3 | B3 SA - Brasil, Bolsa, Balcao | 0.3% | R$9.2M | AddedR$1.7M | ▲ 32.5% | Finance |
 USIM3 | Usinas Siderurgicas de Minas Gerais SA-Usiminas | 0.3% | R$8.8M | Trimmed−R$451.1K | ▼ 6.4% | Non-Energy Minerals |
 GOAU3 | Metalurgica Gerdau S.A. | 0.3% | R$8.8M | Trimmed−R$448.1K | ▲ 17.8% | Non-Energy Minerals |
 AZUL53 | – | 0.3% | R$8.7M | Trimmed−R$780.4M | – | Other |
 BBAS3 | Banco do Brasil S.A. | 0.3% | R$8.4M | New | ▼ 10.2% | Finance |
 AXIA3 | AXIA Energia SA | 0.3% | R$7.9M | AddedR$7.9M | ▼ 3.3% | Utilities |
 PETR3 | Petroleo Brasileiro SA | 0.2% | R$7.2M | New | ▲ 51.8% | Energy Minerals |
 PNVL3 | Dimed S.A. Distribuidora de Medicamentos | 0.2% | R$5.8M | Trimmed−R$298.6K | ▼ 1.0% | Retail Trade |
 RENT3 | Localiza Rent A Car SA | 0.2% | R$5.8M | Trimmed−R$2.2M | ▲ 4.1% | Finance |
 ENEV3 | Eneva S.A. | 0.2% | R$5.6M | AddedR$5.6M | ▲ 49.5% | Utilities |
 RADL3 | Raia Drogasil S.A. | 0.2% | R$5.5M | New | ▼ 13.8% | Retail Trade |
 ITSA4 | Itausa SA | 0.2% | R$5.3M | New | ▲ 10.7% | Finance |
 SMFT3 | Smartfit Escola de Ginastica e Danca SA | 0.2% | R$4.9M | AddedR$4.9M | ▲ 27.0% | Consumer Services |
 SBSP3 | Companhia de Saneamento Basico do Estado de Sao Paulo SABESP | 0.2% | R$4.8M | New | ▲ 5.9% | Utilities |
 WEGE3 | WEG SA | 0.2% | R$4.7M | AddedR$4.6M | ▼ 1.8% | Producer Manufacturing |
 RDOR3 | Rede D'Or Sao Luiz SA | 0.1% | R$3.5M | AddedR$2.0M | ▲ 9.4% | Health Services |
 PRIO3 | Prio SA | 0.1% | R$2.6M | AddedR$1.7M | ▲ 30.8% | Energy Minerals |
 VIVT3 | Telefonica Brasil S.A. | 0.1% | R$2.5M | AddedR$2.5M | ▼ 25.5% | Communications |
 CXSE3 | Caixa Seguridade Participacoes SA | 0.1% | R$2.5M | AddedR$595.2K | ▲ 19.7% | Finance |
 EQTL3 | Equatorial S.A. | 0.1% | R$2.4M | AddedR$2.3M | ▲ 17.7% | Utilities |
 ASAI3 | Sendas Distribuidora SA | 0.1% | R$1.8M | Trimmed−R$16.2M | ▲ 49.7% | Retail Trade |
 UGPA3 | Ultrapar Participacoes S.A. | 0.1% | R$1.8M | AddedR$1.8M | ▲ 54.1% | Retail Trade |
 BBDC3 | Banco Bradesco SA | 0.1% | R$1.7M | AddedR$1.7M | ▼ 0.8% | Finance |
 GGBR4 | Gerdau S.A. | 0.1% | R$1.7M | New | ▲ 25.1% | Non-Energy Minerals |
 CPLE3 | Companhia Paranaense de Energia | 0.1% | R$1.6M | AddedR$1.6M | ▲ 20.4% | Utilities |
 VIVA3 | Vivara Participacoes SA | 0.1% | R$1.5M | AddedR$1.5M | ▼ 11.3% | Consumer Durables |
 BBSE3 | BB Seguridade Participacoes SA | 0.0% | R$1.3M | New | ▲ 22.0% | Finance |
 TOTS3 | TOTVS S.A. | 0.0% | R$1.3M | Trimmed−R$7.3M | ▲ 11.2% | Technology Services |
 RAIL3 | Rumo SA | 0.0% | R$1.2M | New | ▲ 20.9% | Transportation |
Exited this month
Short positions
Borrowed shares the fund has to return
ABEV3R$226.3MPETR4R$222.9MVALE3R$213.2MRENT3R$192.0MAXIA3R$191.7MWEGE3R$160.7MSBSP3R$148.4MEQTL3R$134.5M
CYRE3R$127.5MPETR3R$110.5MB3SA3R$107.5MENEV3R$91.6MITSA4R$89.2MBBDC4R$77.9M
GOAU4R$55.2MASAI3R$51.0MTOTS3R$50.7MRDOR3R$46.4MUGPA3R$46.3MPRIO3R$43.7MRADL3R$34.7MSMFT3R$34.2MVIVT3R$34.1M
TEND3R$28.9MBBDC3R$28.4M
YDUQ3R$26.4M
ALOS3R$24.7M
AXIA6R$23.2MBBSE3R$22.5MRAIL3R$20.5M