XP INVESTOR LONG BIASED

Multimercados L/S - Direcional · CNPJ 18.961.491/0001-00

Portfolio as of June 2026

AUM

R$258.0M

In stocks

R$371.5M

Stocks

YTD

▲ 17.1%

12 months

▲ 24.8%

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. May 2026

Stock	Company	% of stock portfolio	Value	Month	Since then	Sector
ENEV3	Eneva S.A.	9.0%	R$33.5M	AddedR$673.3K	▲ 19.8%	Utilities
RDOR3	Rede D'Or Sao Luiz SA	6.7%	R$25.0M	Held	▲ 27.0%	Health Services
TEND3	Construtora Tenda SA	6.0%	R$22.1M	AddedR$1.1M	▼ 21.8%	Finance
PETR4	Petroleo Brasileiro SA	5.1%	R$18.8M	AddedR$18.7M	▲ 54.0%	Energy Minerals
DIRR3	Direcional Engenharia S.A.	5.1%	R$18.8M	AddedR$5.8M	▼ 18.0%	Finance
EQTL3	Equatorial S.A.	4.7%	R$17.5M	AddedR$1.5M	▲ 27.3%	Utilities
CURY3	Cury Construtora e Incorporadora SA	4.4%	R$16.3M	AddedR$5.6M	▼ 6.6%	Finance
CEAB3	C&A Modas SA	4.1%	R$15.1M	AddedR$1.9M	▲ 32.7%	Retail Trade
BPAC11	Banco BTG Pactual SA	4.1%	R$15.1M	AddedR$9.9M	▲ 51.1%	Finance
COGN3	Cogna Educacao S.A.	3.9%	R$14.5M	AddedR$741.4K	▲ 44.4%	Commercial Services
ITUB4	Itau Unibanco Holding SA	3.3%	R$12.1M	AddedR$2.5M	▲ 15.7%	Finance
MULT3	Multiplan Empreendimentos Imobiliarios SA	3.0%	R$11.2M	AddedR$2.1M	▲ 29.7%	Finance
VBBR3	Vibra Energia SA	2.8%	R$10.4M	AddedR$1.2M	▲ 22.7%	Retail Trade
SBSP3	Companhia de Saneamento Basico do Estado de Sao Paulo SABESP	2.6%	R$9.6M	AddedR$705.4K	▲ 9.8%	Utilities
LREN3	Lojas Renner S.A.	2.5%	R$9.2M	Trimmed−R$3.9M	▲ 1.2%	Retail Trade
AXIA7	AXIA Energia SA	2.2%	R$8.1M	New	▲ 12.2%	Utilities
AXIA3	AXIA Energia SA	2.0%	R$7.5M	Trimmed−R$3.7M	▲ 9.0%	Utilities
POMO4	Marcopolo SA	1.9%	R$7.1M	AddedR$766.1K	▼ 17.4%	Producer Manufacturing
VIVA3	Vivara Participacoes SA	1.8%	R$6.8M	AddedR$645.2K	▲ 20.8%	Consumer Durables
HYPE3	Hypera S.A.	1.7%	R$6.1M	AddedR$545.2K	▲ 30.9%	Health Technology
ANIM3	Anima Holding SA	1.6%	R$6.1M	AddedR$754.5K	▲ 95.4%	Consumer Services
CSNA3	Companhia Siderurgica Nacional	1.6%	R$5.9M	New	▲ 30.1%	Non-Energy Minerals
CSMG3	Companhia de Saneamento de Minas Gerais	1.4%	R$5.3M	Trimmed−R$7.3M	▲ 6.0%	Utilities
RENT3	Localiza Rent A Car SA	1.4%	R$5.1M	Trimmed−R$373.9K	▲ 27.3%	Finance
SMFT3	Smartfit Escola de Ginastica e Danca SA	1.3%	R$4.8M	AddedR$2.2M	▲ 30.3%	Consumer Services
ASAI3	Sendas Distribuidora SA	1.2%	R$4.3M	AddedR$1.0M	▲ 60.0%	Retail Trade
ABEV3	Ambev SA	0.9%	R$3.3M	New	▲ 3.4%	Consumer Non-Durables
VTRU3	Vitru Educacao SA	0.9%	R$3.3M	Trimmed−R$307.5K	▲ 57.8%	Commercial Services
SBFG3	Grupo SBF S.A.	0.9%	R$3.3M	AddedR$498.5K	▲ 14.5%	Retail Trade
ISAE4	Isa Energia Brasil SA	0.8%	R$3.1M	AddedR$2.6M	▲ 3.5%	Utilities
AZZA3	Azzas 2154 SA	0.7%	R$2.6M	New	▲ 52.0%	Consumer Non-Durables
RADL3	Raia Drogasil S.A.	0.7%	R$2.5M	AddedR$548.0K	▲ 28.6%	Retail Trade
IGTI11	Iguatemi SA	0.6%	R$2.4M	Trimmed−R$2.2M	▲ 28.7%	Finance
DXCO3	Dexco SA	0.6%	R$2.3M	New	▲ 66.4%	Producer Manufacturing
SUZB3	Suzano S.A.	0.6%	R$2.2M	AddedR$1.5M	▲ 6.7%	Process Industries
SAUD3	Bradsaude SA	0.6%	R$2.2M	AddedR$1.5M	▲ 9.0%	Health Services
MOTV3	Motiva Infraestrutura de Mobilidade SA	0.6%	R$2.2M	New	▲ 39.5%	Transportation
MBRF3	MBRF Global Foods Company S.A.	0.5%	R$2.0M	New	▲ 2.8%	Consumer Non-Durables
CYRE3	Cyrela Brazil Realty SA Empreendimentos e Participacoes	0.5%	R$2.0M	Trimmed−R$7.4M	▲ 49.5%	Finance
RIAA3	RIACHUELO	0.5%	R$1.9M	New	▲ 22.5%	Distribution Services
PSSA3	Porto Seguro S.A.	0.5%	R$1.8M	New	▼ 0.6%	Finance
TOTS3	TOTVS S.A.	0.5%	R$1.8M	New	▲ 46.6%	Technology Services
SLCE3	SLC Agricola S.A.	0.5%	R$1.8M	AddedR$1.6M	▲ 32.4%	Process Industries
VALE3	Vale S.A.	0.5%	R$1.7M	New	▼ 16.0%	Non-Energy Minerals
HBSA3	Hidrovias do Brasil SA	0.4%	R$1.5M	New	▲ 10.5%	Transportation
BBDC4	Banco Bradesco SA	0.3%	R$1.3M	AddedR$972.0K	▲ 14.3%	Finance
MDNE3	Moura Dubeux Engenharia SA	0.3%	R$1.2M	New	▲ 4.6%	Finance
NATU3	Natura Cosmeticos SA	0.3%	R$1.2M	New	▼ 12.4%	Consumer Non-Durables
TIMS3	TIM S.A.	0.3%	R$1.0M	New	▼ 12.9%	Communications
MDIA3	M. Dias Branco SA Industria e Comercio de Alimentos	0.3%	R$1.0M	New	▲ 13.0%	Consumer Non-Durables
B3SA3	B3 SA - Brasil, Bolsa, Balcao	0.2%	R$916.8K	Trimmed−R$7.7M	▲ 63.2%	Finance
AURE3	Auren Energia SA	0.2%	R$880.4K	AddedR$324.8K	▲ 31.0%	Utilities
ORVR3	Orizon Valorizacao de Residuos SA	0.2%	R$854.4K	New	▲ 3.9%	Utilities
ECOR3	EcoRodovias Infraestrutura e Logistica S.A.	0.2%	R$814.3K	AddedR$549.1K	▲ 84.6%	Transportation
ROXO34	Nu Holdings Ltd.	0.2%	R$641.5K	New	▲ 11.7%	BDR
STOC34	StoneCo Ltd.	0.2%	R$622.4K	New	▲ 9.0%	BDR
VAMO3	Vamos Locacao de Caminhoes, Maquinas e Equipamentos SA	0.2%	R$566.8K	New	▲ 136.3%	Finance
BEEF3	Minerva S.A.	0.1%	R$332.5K	New	▲ 16.7%	Distribution Services
CMIN3	CSN Mineracao SA	0.0%	R$10.8K	New	▲ 19.6%	Non-Energy Minerals

Exited this month

Short positions

Borrowed shares the fund has to return