ABSOLUTE VERTEX MASTER

Multimercados Livre · CNPJ 21.470.947/0001-36 · benchmark DI de um dia

Portfolio as of December 2025

AUM

R$7.4B

In stocks

R$1.2B

Stocks

YTD

▲ 10.6%

12 months

▲ 12.3%

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
NEOE3	–	37.3%	R$442.4M	AddedR$55.8M	–	Other
SBSP3	Companhia de Saneamento Basico do Estado de Sao Paulo SABESP	8.5%	R$100.8M	Trimmed−R$21.2M	▲ 22.2%	Utilities
PRIO3	Prio SA	7.5%	R$89.6M	Trimmed−R$5.4M	▲ 72.0%	Energy Minerals
BPAN4	–	5.3%	R$62.5M	AddedR$24.3M	–	Other
AXIA6	–	4.1%	R$48.5M	Held	–	Other
ENEV3	Eneva S.A.	3.6%	R$42.8M	Held	▲ 58.6%	Utilities
SMFT3	Smartfit Escola de Ginastica e Danca SA	3.4%	R$40.1M	Trimmed−R$8.1M	▲ 10.1%	Consumer Services
MULT3	Multiplan Empreendimentos Imobiliarios SA	2.6%	R$31.1M	AddedR$8.5M	▲ 39.3%	Finance
ITSA4	Itausa SA	2.5%	R$30.0M	Trimmed−R$13.7M	▲ 35.3%	Finance
CPLE3	Companhia Paranaense de Energia	2.3%	R$27.2M	AddedR$8.8M	▲ 34.9%	Utilities
GGPS3	GPS Participacoes e Empreendimentos SA	1.9%	R$22.8M	AddedR$3.0M	▲ 1.1%	Commercial Services
RDOR3	Rede D'Or Sao Luiz SA	1.8%	R$21.8M	Trimmed−R$10.3M	▲ 8.6%	Health Services
CYRE3	Cyrela Brazil Realty SA Empreendimentos e Participacoes	1.8%	R$21.5M	AddedR$5.5M	▲ 38.2%	Finance
BBDC3	Banco Bradesco SA	1.6%	R$19.1M	Held	▲ 16.9%	Finance
RAIL3	Rumo SA	1.6%	R$18.5M	Trimmed−R$1.1M	▲ 30.8%	Transportation
ALOS3	Allos S.A.	1.4%	R$16.6M	Trimmed−R$4.8M	▲ 25.8%	Finance
IGTI11	Iguatemi SA	1.2%	R$14.8M	AddedR$7.6M	▲ 26.7%	Finance
PLPL3	Plano & Plano Desenvolvimento Imobiliario Ltda	1.1%	R$12.9M	AddedR$1.1M	▼ 40.9%	Finance
PRNR3	Priner Servicos Industriais SA	1.1%	R$12.8M	Held	▲ 29.6%	Industrial Services
INTB3	Intelbras SA Industria de Telecomunicacao Eletronica Brasileir	0.9%	R$11.1M	Trimmed−R$3.7M	▲ 70.4%	Technology Services
EQTL3	Equatorial S.A.	0.9%	R$10.3M	Trimmed−R$15.7M	▲ 28.8%	Utilities
VBBR3	Vibra Energia SA	0.8%	R$9.5M	AddedR$4.3M	▲ 44.8%	Retail Trade
CVCB3	CVC Brasil Operadora e Agencia de Viagens SA	0.7%	R$8.3M	Trimmed−R$1.6M	▼ 22.7%	Consumer Services
ALUP11	Alupar Investimento SA	0.6%	R$7.3M	AddedR$1.3M	▲ 21.2%	Utilities
POMO4	Marcopolo SA	0.6%	R$6.9M	AddedR$2.6M	▼ 17.1%	Producer Manufacturing
ENGI11	Energisa SA	0.6%	R$6.7M	Trimmed−R$839.6K	▲ 43.1%	Utilities
UGPA3	Ultrapar Participacoes S.A.	0.6%	R$6.6M	Trimmed−R$1.1M	▲ 90.3%	Retail Trade
NATU3	Natura Cosmeticos SA	0.5%	R$5.5M	Trimmed−R$372.6K	▲ 2.7%	Consumer Non-Durables
IRBR3	IRB Brasil Resseguros SA	0.5%	R$5.4M	Held	▲ 30.0%	Finance
DXCO3	Dexco SA	0.4%	R$5.0M	Trimmed−R$2.0M	▲ 65.4%	Producer Manufacturing
VULC3	Vulcabras SA	0.3%	R$4.0M	Trimmed−R$1.8M	▼ 18.0%	Consumer Non-Durables
PETR3	Petroleo Brasileiro SA	0.3%	R$3.5M	AddedR$1.0M	▲ 99.1%	Energy Minerals
ABEV3	Ambev SA	0.2%	R$2.6M	AddedR$1.3M	▲ 21.6%	Consumer Non-Durables
CSMG3	Companhia de Saneamento de Minas Gerais	0.2%	R$2.0M	Trimmed−R$2.6M	▲ 44.7%	Utilities
B3SA3	B3 SA - Brasil, Bolsa, Balcao	0.2%	R$2.0M	New	▲ 70.7%	Finance
CSAN3	Cosan S.A.	0.2%	R$1.9M	AddedR$1.2M	▼ 0.9%	Utilities
DIRR3	Direcional Engenharia S.A.	0.1%	R$1.7M	New	▼ 19.1%	Finance
CEAB3	C&A Modas SA	0.1%	R$1.5M	New	▲ 11.8%	Retail Trade
COCE5	Companhia Energetica do Ceara-COELCE	0.1%	R$1.0M	Trimmed−R$132.1K	▲ 11.5%	Utilities
CXSE3	Caixa Seguridade Participacoes SA	0.1%	R$1.0M	Trimmed−R$2.1M	▲ 28.1%	Finance
CURY3	Cury Construtora e Incorporadora SA	0.1%	R$757.4K	New	▲ 1.6%	Finance
SOJA3	Boa Safra Sementes SA	0.1%	R$730.8K	Trimmed−R$327.7K	▼ 7.7%	Process Industries
BRAV3	Brava Energia SA	0.1%	R$685.4K	New	▲ 24.5%	Energy Minerals
HYPE3	Hypera S.A.	0.1%	R$617.3K	Trimmed−R$864.7K	▲ 15.7%	Health Technology
CBAV3	Companhia Brasileira de Aluminio	0.1%	R$598.1K	AddedR$400.6K	▲ 57.0%	Non-Energy Minerals
AZZA3	Azzas 2154 SA	0.0%	R$581.2K	Trimmed−R$651.6K	▲ 8.0%	Consumer Non-Durables
QUAL3	Qualicorp Consultoria e Corretora de Seguros S.A.	0.0%	R$556.3K	AddedR$95.3K	▼ 3.5%	Health Services
HBSA3	Hidrovias do Brasil SA	0.0%	R$536.9K	Trimmed−R$262.8K	▲ 12.0%	Transportation
ODPV3	–	0.0%	R$500.6K	Trimmed−R$353.1K	–	Other
ITUB3	Itau Unibanco Holding S.A.	0.0%	R$419.3K	Trimmed−R$2.9M	▲ 45.3%	Finance
XPBR31	XP Inc.	0.0%	R$405.0K	New	▲ 73.2%	BDR
AXIA7	AXIA Energia SA	0.0%	R$309.5K	New	▲ 21.1%	Utilities
BIOM3	Biomm SA	0.0%	R$156.7K	New	▼ 12.3%	Health Technology
TOKY3	Grupo Toky SA	0.0%	R$100.7K	Held	▼ 39.6%	Technology Services
TCSA3	Tecnisa S.A.	0.0%	R$81.5K	Held	▼ 26.5%	Finance
OPCT3	OceanPact Servicos Maritimos SA	0.0%	R$68.4K	New	▲ 14.7%	Commercial Services
EZTC3	EZ TEC Empreendimentos e Participacoes SA	0.0%	R$58.3K	New	▲ 38.4%	Finance
HBRE3	HBR Realty Empreendimentos Imobiliarios SA	0.0%	R$35.0K	AddedR$9.2K	▼ 26.2%	Finance
TTEN3	Tres Tentos Agroindustrial SA	0.0%	R$5.5K	Trimmed−R$127.1K	▼ 15.6%	Commercial Services
AXIA3	AXIA Energia SA	0.0%	R$1.7K	Trimmed−R$3.4M	▲ 17.1%	Utilities