VINLAND MACRO PLUS MASTER

Multimercados Macro · CNPJ 28.692.461/0001-91 · benchmark DI de um dia

Portfolio as of March 2025

AUM

R$232.9M

In stocks

R$193.7M

Stocks

YTD

▲ 6.5%

12 months

▲ 10.4%

Past performance is no guarantee of future results.

Quota

Month-end; daily in recent months

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Hatched months still have confidential positions.

Changes vs. February 2025

Stock	Company	% of stock portfolio	Value	Month	Since then	Sector
CLSA3	–	39.7%	R$77.0M	Trimmed−R$15.7M	–	Other
STBP3	–	34.1%	R$66.0M	AddedR$7.4M	–	Other
ELMD3	–	11.9%	R$23.1M	Trimmed−R$6.0M	–	Other
PORT3	–	6.8%	R$13.1M	AddedR$12.6M	–	Other
EQTL3	Equatorial S.A.	2.7%	R$5.2M	New	▲ 54.9%	Utilities
VALE3	Vale S.A.	1.1%	R$2.1M	New	▲ 15.4%	Non-Energy Minerals
PRNR3	Priner Servicos Industriais SA	0.6%	R$1.1M	Trimmed−R$36.3K	▲ 23.0%	Industrial Services
ELET3	–	0.6%	R$1.1M	New	–	Other
JBSS3	–	0.5%	R$1.0M	AddedR$1.0M	–	Other
AURA33	Aura Minerals Inc	0.5%	R$946.4K	Trimmed−R$8.4M	▲ 288.5%	BDR
PGMN3	Empreendimentos Pague Menos SA	0.4%	R$744.8K	Held	▲ 81.0%	Retail Trade
CMIG3	Companhia Energetica de Minas Gerais SA	0.4%	R$734.3K	New	▲ 20.4%	Utilities
ASAI3	Sendas Distribuidora SA	0.2%	R$457.5K	Trimmed−R$583.1K	▲ 85.4%	Retail Trade
WALM34	Walmart Inc	0.2%	R$407.9K	Trimmed−R$71.2K	▲ 17.5%	BDR
PETR3	Petroleo Brasileiro SA	0.1%	R$228.3K	Trimmed−R$21.7M	▲ 58.9%	Energy Minerals
ITUB4	Itau Unibanco Holding SA	0.1%	R$214.1K	Trimmed−R$1.0M	▲ 60.0%	Finance
TLNC34	–	0.1%	R$184.2K	Held	–	Other
PETR4	Petroleo Brasileiro SA	0.0%	R$51.9K	Trimmed−R$4.0M	▲ 56.6%	Energy Minerals
ROXO34	Nu Holdings Ltd.	0.0%	R$30.1K	New	▲ 32.3%	BDR
PCAR3	Companhia Brasileira de Distribuicao	0.0%	R$17.0K	AddedR$15.6K	▲ 1.0%	Retail Trade
COWC34	Costco Wholesale Corporation	0.0%	R$7.8K	New	▼ 7.5%	BDR

Exited this month

Borrowed shares the fund has to return