OCCAM RETORNO ABSOLUTO
Multimercados Livre · CNPJ 17.248.340/0001-39 · benchmark DI de um dia
Portfolio as of December 2025
AUM
R$368.0M
In stocks
R$164.9M
Stocks
72
YTD
▲ 6.3%
12 months
▲ 7.5%
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. November 2025
| Stock | Company | % of stock portfolio | Value | Month | Since then | Sector |
|---|---|---|---|---|---|---|
 CPLE3 | Companhia Paranaense de Energia | 10.8% | R$17.9M | AddedR$17.4M | ▲ 34.9% | Utilities |
 SMFT3 | Smartfit Escola de Ginastica e Danca SA | 10.5% | R$17.4M | Trimmed−R$2.9M | ▲ 10.1% | Consumer Services |
 ITUB4 | Itau Unibanco Holding SA | 9.7% | R$15.9M | AddedR$544.5K | ▲ 24.4% | Finance |
 EQTL3 | Equatorial S.A. | 8.6% | R$14.1M | Trimmed−R$4.2M | ▲ 28.8% | Utilities |
 DIRR3 | Direcional Engenharia S.A. | 6.6% | R$10.9M | Trimmed−R$1.2M | ▼ 19.1% | Finance |
 RDOR3 | Rede D'Or Sao Luiz SA | 6.5% | R$10.7M | Trimmed−R$540.8K | ▲ 8.6% | Health Services |
 RENT3 | Localiza Rent A Car SA | 5.7% | R$9.4M | AddedR$2.8M | ▲ 21.3% | Finance |
 CURY3 | Cury Construtora e Incorporadora SA | 4.6% | R$7.6M | Trimmed−R$1.0M | ▲ 1.6% | Finance |
 VALE3 | Vale S.A. | 4.4% | R$7.2M | Trimmed−R$8.5M | ▼ 9.1% | Non-Energy Minerals |
 BPAC11 | Banco BTG Pactual SA | 3.3% | R$5.5M | Trimmed−R$628.3K | ▲ 55.4% | Finance |
 PRIO3 | Prio SA | 3.0% | R$4.9M | AddedR$3.9M | ▲ 72.0% | Energy Minerals |
 VIVA3 | Vivara Participacoes SA | 2.6% | R$4.4M | Trimmed−R$2.3M | ▼ 16.9% | Consumer Durables |
 BRAV3 | Brava Energia SA | 2.6% | R$4.4M | AddedR$4.3M | ▲ 24.5% | Energy Minerals |
 SBSP3 | Companhia de Saneamento Basico do Estado de Sao Paulo SABESP | 2.5% | R$4.1M | Trimmed−R$7.1M | ▲ 22.2% | Utilities |
 CSMG3 | Companhia de Saneamento de Minas Gerais | 2.4% | R$4.0M | Trimmed−R$1.3M | ▲ 44.7% | Utilities |
 ENEV3 | Eneva S.A. | 2.3% | R$3.8M | Trimmed−R$1.0M | ▲ 58.6% | Utilities |
 CEAB3 | C&A Modas SA | 2.0% | R$3.4M | New | ▲ 11.8% | Retail Trade |
 PETR4 | Petroleo Brasileiro SA | 1.9% | R$3.1M | AddedR$2.4M | ▲ 88.9% | Energy Minerals |
 MULT3 | Multiplan Empreendimentos Imobiliarios SA | 1.9% | R$3.1M | Trimmed−R$1.7M | ▲ 39.3% | Finance |
 CMIG3 | Companhia Energetica de Minas Gerais SA | 1.5% | R$2.5M | Held | ▲ 21.1% | Utilities |
 RADL3 | Raia Drogasil S.A. | 1.1% | R$1.9M | Trimmed−R$4.2M | ▼ 7.8% | Retail Trade |
 NEOE3 | – | 0.8% | R$1.4M | New | – | Other |
 AXIA7 | AXIA Energia SA | 0.7% | R$1.1M | New | ▲ 21.1% | Utilities |
 PETR3 | Petroleo Brasileiro SA | 0.6% | R$1.1M | AddedR$919.2K | ▲ 99.1% | Energy Minerals |
 ABEV3 | Ambev SA | 0.4% | R$666.3K | Trimmed−R$531.5K | ▲ 21.6% | Consumer Non-Durables |
 ITSA4 | Itausa SA | 0.3% | R$529.3K | Trimmed−R$1.8M | ▲ 35.3% | Finance |
 UGPA3 | Ultrapar Participacoes S.A. | 0.3% | R$495.7K | AddedR$461.8K | ▲ 90.3% | Retail Trade |
 ALOS3 | Allos S.A. | 0.3% | R$450.5K | Trimmed−R$335.4K | ▲ 25.8% | Finance |
 WEGE3 | WEG SA | 0.2% | R$300.8K | Trimmed−R$1.8M | ▲ 0.6% | Producer Manufacturing |
 AXIA3 | AXIA Energia SA | 0.2% | R$289.7K | Trimmed−R$2.8M | ▲ 17.1% | Utilities |
 ENGI11 | Energisa SA | 0.2% | R$287.4K | New | ▲ 43.1% | Utilities |
 LREN3 | Lojas Renner S.A. | 0.2% | R$250.0K | AddedR$231.0K | ▲ 11.0% | Retail Trade |
 BBDC4 | Banco Bradesco SA | 0.1% | R$237.8K | AddedR$214.7K | ▲ 13.7% | Finance |
 RENT4 | Localiza Rent A Car SA | 0.1% | R$161.2K | New | ▲ 23.8% | Finance |
 BRKM5 | Braskem S.A. | 0.1% | R$146.3K | AddedR$135.3K | ▼ 47.3% | Process Industries |
 SUZB3 | Suzano S.A. | 0.1% | R$123.5K | Trimmed−R$178.9K | ▼ 17.6% | Process Industries |
 GGBR4 | Gerdau S.A. | 0.1% | R$108.1K | Trimmed−R$28.9K | ▲ 28.7% | Non-Energy Minerals |
 GOAU4 | Metalurgica Gerdau SA | 0.1% | R$107.7K | AddedR$79.8K | ▲ 32.6% | Non-Energy Minerals |
 BRAP4 | Bradespar SA | 0.1% | R$93.4K | AddedR$36.9K | ▲ 0.8% | Finance |
 BBSE3 | BB Seguridade Participacoes SA | 0.1% | R$87.9K | Trimmed−R$329.1K | ▲ 17.0% | Finance |
 POMO4 | Marcopolo SA | 0.1% | R$87.3K | AddedR$71.8K | ▼ 17.1% | Producer Manufacturing |
 USIM5 | Usinas Siderurgicas de Minas Gerais SA-Usiminas | 0.0% | R$81.9K | AddedR$66.4K | ▲ 13.9% | Non-Energy Minerals |
 CYRE3 | Cyrela Brazil Realty SA Empreendimentos e Participacoes | 0.0% | R$80.6K | Trimmed−R$504.5K | ▲ 38.2% | Finance |
 ALPA4 | Alpargatas SA | 0.0% | R$71.4K | Trimmed−R$17.4K | ▲ 50.3% | Consumer Non-Durables |
 CVCB3 | CVC Brasil Operadora e Agencia de Viagens SA | 0.0% | R$68.1K | AddedR$20.2K | ▼ 22.7% | Consumer Services |
 BEEF3 | Minerva S.A. | 0.0% | R$57.6K | New | ▼ 24.8% | Distribution Services |
 CPFE3 | CPFL Energia S.A. | 0.0% | R$48.9K | Trimmed−R$2.5K | ▼ 6.0% | Utilities |
 AXIA6 | – | 0.0% | R$41.0K | Trimmed−R$42.9K | – | Other |
 CMIN3 | CSN Mineracao SA | 0.0% | R$38.2K | New | ▼ 8.3% | Non-Energy Minerals |
 CMIG4 | Companhia Energetica de Minas Gerais SA | 0.0% | R$30.0K | Trimmed−R$59.3K | ▲ 5.6% | Utilities |
 BBDC3 | Banco Bradesco SA | 0.0% | R$23.4K | New | ▲ 16.9% | Finance |
 CSAN3 | Cosan S.A. | 0.0% | R$22.9K | New | ▼ 0.9% | Utilities |
 BBAS3 | Banco do Brasil S.A. | 0.0% | R$22.2K | Trimmed−R$203.6K | ▲ 10.4% | Finance |
 COGN3 | Cogna Educacao S.A. | 0.0% | R$22.1K | New | ▲ 2.8% | Commercial Services |
 RAIL3 | Rumo SA | 0.0% | R$16.2K | Trimmed−R$111.0K | ▲ 30.8% | Transportation |
 CXSE3 | Caixa Seguridade Participacoes SA | 0.0% | R$15.5K | New | ▲ 28.1% | Finance |
 VBBR3 | Vibra Energia SA | 0.0% | R$10.1K | Trimmed−R$243.2K | ▲ 44.8% | Retail Trade |
 EMBJ3 | Embraer S.A. | 0.0% | R$8.9K | Trimmed−R$87.6K | ▲ 2.5% | Electronic Technology |
 B3SA3 | B3 SA - Brasil, Bolsa, Balcao | 0.0% | R$8.3K | New | ▲ 70.7% | Finance |
 AZZA3 | Azzas 2154 SA | 0.0% | R$8.3K | New | ▲ 8.0% | Consumer Non-Durables |
Short positions
Borrowed shares the fund has to return
VALE3R$38.2MBBAS3R$23.6MPETR4R$18.8MITUB4R$18.7MABEV3R$17.5MPETR3R$15.9MB3SA3R$15.0MBBDC4R$13.1MBBSE3R$12.8MPRIO3R$11.2MCMIG4R$9.3MWEGE3R$9.0M
TAEE11R$8.7MCXSE3R$7.7M
EGIE3R$7.6MBRAV3R$7.4MAXIA3R$7.2MGGBR4R$7.0M
CSNA3R$6.9MEMBJ3R$6.5MRAIL3R$6.3M
RECV3R$6.1MBRAP4R$5.8MLREN3R$5.2M
KLBN11R$4.8MCSAN3R$4.7MBRKM5R$4.6M
RAIZ4R$4.6MSUZB3R$4.0M
ASAI3R$3.9M