OCCAM LONG BIASED
Multimercados L/S - Direcional · CNPJ 18.525.753/0001-86
Portfolio as of November 2025
AUM
R$53.9M
In stocks
R$68.6M
Stocks
70
YTD
▲ 11.0%
12 months
▲ 13.2%
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. October 2025
| Stock | Company | % of stock portfolio | Value | Month | Since then | Sector |
|---|---|---|---|---|---|---|
 ITUB4 | Itau Unibanco Holding SA | 10.6% | R$7.3M | Trimmed−R$1.4M | ▲ 20.7% | Finance |
 CPLE5 | – | 10.2% | R$7.0M | New | – | Other |
 SMFT3 | Smartfit Escola de Ginastica e Danca SA | 9.7% | R$6.6M | AddedR$1.3M | ▼ 2.3% | Consumer Services |
 EQTL3 | Equatorial S.A. | 8.7% | R$5.9M | Trimmed−R$695.8K | ▲ 24.7% | Utilities |
 DIRR3 | Direcional Engenharia S.A. | 6.7% | R$4.6M | AddedR$244.6K | ▼ 38.3% | Finance |
 SBSP3 | Companhia de Saneamento Basico do Estado de Sao Paulo SABESP | 6.7% | R$4.6M | Trimmed−R$372.6K | ▲ 19.1% | Utilities |
 RDOR3 | Rede D'Or Sao Luiz SA | 6.3% | R$4.3M | AddedR$1.6M | ▼ 5.4% | Health Services |
 CURY3 | Cury Construtora e Incorporadora SA | 4.4% | R$3.0M | AddedR$1.2M | ▼ 14.6% | Finance |
 VALE3 | Vale S.A. | 3.7% | R$2.5M | AddedR$2.0M | ▼ 2.9% | Non-Energy Minerals |
 AXIA3 | AXIA Energia SA | 3.7% | R$2.5M | New | ▼ 5.2% | Utilities |
 RENT3 | Localiza Rent A Car SA | 3.6% | R$2.5M | AddedR$625.0K | ▲ 21.3% | Finance |
 BPAC11 | Banco BTG Pactual SA | 3.5% | R$2.4M | AddedR$1.3M | ▲ 51.3% | Finance |
 RADL3 | Raia Drogasil S.A. | 3.2% | R$2.2M | AddedR$1.5M | ▼ 10.0% | Retail Trade |
 VIVA3 | Vivara Participacoes SA | 3.0% | R$2.1M | AddedR$146.3K | ▼ 21.3% | Consumer Durables |
 MULT3 | Multiplan Empreendimentos Imobiliarios SA | 2.4% | R$1.7M | Held | ▲ 25.9% | Finance |
 ENEV3 | Eneva S.A. | 2.4% | R$1.7M | AddedR$1.0M | ▲ 61.0% | Utilities |
 CSMG3 | Companhia de Saneamento de Minas Gerais | 2.0% | R$1.4M | Held | ▲ 52.7% | Utilities |
 ITSA4 | Itausa SA | 1.6% | R$1.1M | AddedR$391.6K | ▲ 28.1% | Finance |
 PETR3 | Petroleo Brasileiro SA | 1.6% | R$1.1M | AddedR$500.6K | ▲ 94.3% | Energy Minerals |
 WEGE3 | WEG SA | 1.0% | R$699.2K | AddedR$689.3K | ▲ 10.3% | Producer Manufacturing |
 CMIG3 | Companhia Energetica de Minas Gerais SA | 0.7% | R$480.7K | Held | ▲ 25.2% | Utilities |
 ALOS3 | Allos S.A. | 0.6% | R$396.9K | AddedR$394.1K | ▲ 25.9% | Finance |
 ABEV3 | Ambev SA | 0.5% | R$325.8K | AddedR$134.3K | ▲ 21.6% | Consumer Non-Durables |
 PETR4 | Petroleo Brasileiro SA | 0.4% | R$305.2K | New | ▲ 83.1% | Energy Minerals |
 BBDC4 | Banco Bradesco SA | 0.4% | R$273.3K | Trimmed−R$1.5M | ▲ 5.2% | Finance |
 PRIO3 | Prio SA | 0.4% | R$261.4K | Trimmed−R$462.2K | ▲ 91.5% | Energy Minerals |
 AXIA6 | – | 0.3% | R$229.7K | New | – | Other |
 SLCE3 | SLC Agricola S.A. | 0.2% | R$161.3K | AddedR$158.0K | ▲ 16.2% | Process Industries |
 EGIE3 | ENGIE Brasil Energia S.A. | 0.2% | R$144.0K | New | ▲ 2.0% | Utilities |
 CPLE3 | Companhia Paranaense de Energia | 0.2% | R$121.7K | Held | ▲ 29.6% | Utilities |
 EMBJ3 | Embraer S.A. | 0.1% | R$97.4K | New | ▲ 8.1% | Electronic Technology |
 BRAP4 | Bradespar SA | 0.1% | R$85.6K | New | ▲ 3.2% | Finance |
 CYRE3 | Cyrela Brazil Realty SA Empreendimentos e Participacoes | 0.1% | R$64.3K | AddedR$3.1K | ▲ 14.6% | Finance |
 SMTO3 | Sao Martinho S.A. | 0.1% | R$49.4K | AddedR$29.2K | ▲ 52.5% | Process Industries |
 BHIA3 | Grupo Casas Bahia S.A. | 0.1% | R$40.4K | New | ▼ 79.3% | Retail Trade |
 IRBR3 | IRB Brasil Resseguros SA | 0.0% | R$32.2K | AddedR$32.1K | ▲ 38.9% | Finance |
 PSSA3 | Porto Seguro S.A. | 0.0% | R$29.2K | Trimmed−R$1.4M | ▲ 11.5% | Finance |
 RAIL3 | Rumo SA | 0.0% | R$29.1K | New | ▲ 14.5% | Transportation |
 ALPA4 | Alpargatas SA | 0.0% | R$25.5K | Held | ▲ 57.8% | Consumer Non-Durables |
 COGN3 | Cogna Educacao S.A. | 0.0% | R$22.8K | Trimmed−R$143.3K | ▼ 8.3% | Commercial Services |
 VBBR3 | Vibra Energia SA | 0.0% | R$22.6K | Trimmed−R$1.7M | ▲ 47.4% | Retail Trade |
 CMIG4 | Companhia Energetica de Minas Gerais SA | 0.0% | R$22.4K | New | ▲ 2.9% | Utilities |
 MBRF3 | MBRF Global Foods Company S.A. | 0.0% | R$22.1K | New | ▼ 4.1% | Consumer Non-Durables |
 ENGI11 | Energisa SA | 0.0% | R$20.3K | Trimmed−R$353.6K | ▲ 36.8% | Utilities |
 SUZB3 | Suzano S.A. | 0.0% | R$19.4K | New | ▼ 10.9% | Process Industries |
 PETZ3 | – | 0.0% | R$18.9K | New | – | Other |
 BBSE3 | BB Seguridade Participacoes SA | 0.0% | R$18.5K | New | ▲ 24.0% | Finance |
 CPFE3 | CPFL Energia S.A. | 0.0% | R$14.8K | New | ▲ 2.7% | Utilities |
 TIMS3 | TIM S.A. | 0.0% | R$12.5K | Trimmed−R$7.7K | ▼ 24.8% | Communications |
 RECV3 | Petroreconcavo SA | 0.0% | R$12.3K | AddedR$11.1K | ▲ 19.1% | Energy Minerals |
 HYPE3 | Hypera S.A. | 0.0% | R$10.8K | Trimmed−R$118.9K | ▲ 1.7% | Health Technology |
 CXSE3 | Caixa Seguridade Participacoes SA | 0.0% | R$9.7K | AddedR$2.8K | ▲ 31.5% | Finance |
 AURE3 | Auren Energia SA | 0.0% | R$8.6K | AddedR$527.61 | ▲ 23.9% | Utilities |
 TOTS3 | TOTVS S.A. | 0.0% | R$8.6K | Trimmed−R$51.6K | ▼ 1.7% | Technology Services |
 MOTV3 | Motiva Infraestrutura de Mobilidade SA | 0.0% | R$5.8K | Trimmed−R$10.2K | ▲ 27.7% | Transportation |
 GOAU4 | Metalurgica Gerdau SA | 0.0% | R$5.3K | New | ▲ 44.6% | Non-Energy Minerals |
 CVCB3 | CVC Brasil Operadora e Agencia de Viagens SA | 0.0% | R$5.2K | New | ▼ 11.2% | Consumer Services |
 MRVE3 | MRV Engenharia e Participacoes S.A. | 0.0% | R$4.7K | New | ▼ 10.2% | Consumer Durables |
 MGLU3 | Magazine Luiza S.A. | 0.0% | R$3.6K | New | ▲ 38.7% | Retail Trade |
 GGBR4 | Gerdau S.A. | 0.0% | R$3.5K | Trimmed−R$19.9K | ▲ 37.9% | Non-Energy Minerals |
Short positions
Borrowed shares the fund has to return
VALE3R$2.8MABEV3R$2.6M
BBAS3R$1.9M
B3SA3R$1.7MPETR3R$1.6MPETR4R$1.3MSUZB3R$1.2MCMIG4R$1.2MEGIE3R$1.1MBRAP4R$1.1MBBSE3R$1.1MALOS3R$1.0MCXSE3R$1.0M
CSNA3R$992.0KRECV3R$975.7KWEGE3R$914.0K
TAEE11R$887.0KIRBR3R$864.1K
IGTI11R$833.5K
KLBN11R$818.6KCPFE3R$714.9K
BRAV3R$672.4KMBRF3R$609.1KRAIL3R$597.5KTIMS3R$560.7KMOTV3R$537.3K
SANB11R$529.2K
ASAI3R$496.1K
LREN3R$460.8KSLCE3R$436.4K