BTG CLAVE ALPHA MACRO MASTER
Multimercados Macro · CNPJ 19.941.720/0001-80 · benchmark DI de um dia
Portfolio as of January 2026
AUM
R$419.5M
In stocks
R$203.9M
Stocks
36
YTD
▲ 26.7%
12 months
▲ 31.9%
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
No complete previous month to compare
| Stock | Company | % of stock portfolio | Value | Since then | Sector |
|---|---|---|---|---|---|
 EQTL3 | Equatorial S.A. | 10.6% | R$21.7M | ▲ 21.2% | Utilities |
 DIRR3 | Direcional Engenharia S.A. | 9.2% | R$18.8M | ▼ 18.1% | Finance |
 AXIA3 | AXIA Energia SA | 8.1% | R$16.6M | ▲ 9.0% | Utilities |
 RENT3 | Localiza Rent A Car SA | 5.9% | R$12.0M | ▲ 9.2% | Finance |
 ALPA4 | Alpargatas SA | 5.5% | R$11.2M | ▲ 24.8% | Consumer Non-Durables |
 FLRY3 | Fleury SA | 5.5% | R$11.2M | ▲ 69.7% | Health Services |
 CPLE3 | Companhia Paranaense de Energia | 5.4% | R$11.0M | ▲ 33.9% | Utilities |
 RDOR3 | Rede D'Or Sao Luiz SA | 5.3% | R$10.9M | ▲ 4.0% | Health Services |
 ITSA4 | Itausa SA | 5.3% | R$10.9M | ▲ 15.7% | Finance |
 GGBR4 | Gerdau S.A. | 5.0% | R$10.2M | ▲ 17.1% | Non-Energy Minerals |
 NEOE3 | – | 4.7% | R$9.5M | – | Other |
 CBAV3 | Companhia Brasileira de Aluminio | 4.3% | R$8.8M | ▲ 10.7% | Non-Energy Minerals |
 EGIE3 | ENGIE Brasil Energia S.A. | 3.2% | R$6.4M | ▼ 4.7% | Utilities |
 B3SA3 | B3 SA - Brasil, Bolsa, Balcao | 3.0% | R$6.1M | ▲ 46.8% | Finance |
 CEAB3 | C&A Modas SA | 2.5% | R$5.1M | ▲ 19.6% | Retail Trade |
 LREN3 | Lojas Renner S.A. | 2.5% | R$5.0M | ▲ 0.0% | Retail Trade |
 RADL3 | Raia Drogasil S.A. | 2.2% | R$4.4M | ▼ 11.8% | Retail Trade |
 VBBR3 | Vibra Energia SA | 2.0% | R$4.1M | ▲ 27.5% | Retail Trade |
 SUZB3 | Suzano S.A. | 1.9% | R$4.0M | ▼ 14.0% | Process Industries |
 SBSP3 | Companhia de Saneamento Basico do Estado de Sao Paulo SABESP | 1.7% | R$3.4M | ▲ 15.4% | Utilities |
 UGPA3 | Ultrapar Participacoes S.A. | 1.0% | R$2.0M | ▲ 56.7% | Retail Trade |
 HYPE3 | Hypera S.A. | 0.9% | R$1.9M | ▲ 8.1% | Health Technology |
 BBDC4 | Banco Bradesco SA | 0.7% | R$1.5M | ▼ 3.0% | Finance |
 XPBR31 | XP Inc. | 0.7% | R$1.5M | ▲ 55.8% | BDR |
 AXIA7 | AXIA Energia SA | 0.5% | R$1.1M | ▲ 12.6% | Utilities |
 CSMG3 | Companhia de Saneamento de Minas Gerais | 0.2% | R$455.6K | ▲ 24.2% | Utilities |
 SAPR4 | Companhia de Saneamento do Parana - Sanepar | 0.2% | R$450.5K | ▼ 9.9% | Utilities |
 ECOR3 | EcoRodovias Infraestrutura e Logistica S.A. | 0.2% | R$438.2K | ▲ 16.3% | Transportation |
 POMO4 | Marcopolo SA | 0.2% | R$434.2K | ▼ 23.3% | Producer Manufacturing |
 CYRE3 | Cyrela Brazil Realty SA Empreendimentos e Participacoes | 0.2% | R$434.0K | ▲ 15.1% | Finance |
 CMIN3 | CSN Mineracao SA | 0.2% | R$421.2K | ▼ 15.1% | Non-Energy Minerals |
 INTB3 | Intelbras SA Industria de Telecomunicacao Eletronica Brasileir | 0.2% | R$415.0K | ▲ 60.3% | Technology Services |
 CMIG4 | Companhia Energetica de Minas Gerais SA | 0.2% | R$409.3K | ▲ 3.0% | Utilities |
 ISAE4 | Isa Energia Brasil SA | 0.2% | R$401.2K | ▲ 4.5% | Utilities |
 SMTO3 | Sao Martinho S.A. | 0.2% | R$386.2K | ▲ 39.3% | Process Industries |
 RENT4 | Localiza Rent A Car SA | 0.2% | R$373.1K | ▲ 10.1% | Finance |
Short positions
Borrowed shares the fund has to return
