DAHLIA TOTAL RETURN MASTER
Multimercados Livre · CNPJ 30.317.436/0001-70
Portfolio as of March 2026
AUM
R$1.3B
In stocks
R$560.9M
Stocks
30
YTD
▲ 16.2%
12 months
▲ 21.1%
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. February 2026
| Stock | Company | % of stock portfolio | Value | Month | Since then | Sector |
|---|---|---|---|---|---|---|
 ITUB4 | Itau Unibanco Holding SA | 6.8% | R$38.2M | AddedR$17.9M | ▲ 12.2% | Finance |
 AXIA3 | AXIA Energia SA | 6.7% | R$37.6M | Trimmed−R$15.2M | ▲ 1.2% | Utilities |
 VALE3 | Vale S.A. | 6.4% | R$35.7M | Trimmed−R$1.8M | ▼ 20.7% | Non-Energy Minerals |
 ROXO34 | Nu Holdings Ltd. | 6.1% | R$34.5M | New | ▲ 2.2% | BDR |
 MULT3 | Multiplan Empreendimentos Imobiliarios SA | 5.8% | R$32.4M | AddedR$13.3M | ▲ 19.3% | Finance |
 CURY3 | Cury Construtora e Incorporadora SA | 5.3% | R$29.7M | AddedR$13.0M | ▼ 7.4% | Finance |
 RADL3 | Raia Drogasil S.A. | 5.3% | R$29.6M | AddedR$4.6M | ▼ 8.2% | Retail Trade |
 SBSP3 | Companhia de Saneamento Basico do Estado de Sao Paulo SABESP | 4.2% | R$23.5M | Held | ▲ 2.8% | Utilities |
 RENT3 | Localiza Rent A Car SA | 4.1% | R$23.0M | AddedR$12.9M | ▲ 12.5% | Finance |
 BBDC4 | Banco Bradesco SA | 4.1% | R$22.9M | AddedR$3.8M | ▲ 7.9% | Finance |
 ENEV3 | Eneva S.A. | 4.0% | R$22.7M | Trimmed−R$17.4M | ▲ 30.4% | Utilities |
 CPLE3 | Companhia Paranaense de Energia | 3.9% | R$21.6M | Trimmed−R$13.6M | ▲ 14.4% | Utilities |
 B3SA3 | B3 SA - Brasil, Bolsa, Balcao | 3.8% | R$21.6M | New | ▲ 28.9% | Finance |
 XPBR31 | XP Inc. | 3.7% | R$21.0M | New | ▲ 62.5% | BDR |
 CEAB3 | C&A Modas SA | 3.5% | R$19.5M | Held | ▲ 17.9% | Retail Trade |
 EQTL3 | Equatorial S.A. | 3.4% | R$18.9M | Trimmed−R$2.2M | ▲ 21.6% | Utilities |
 VBBR3 | Vibra Energia SA | 3.2% | R$17.7M | AddedR$373.1K | ▲ 16.0% | Retail Trade |
 CYRE3 | Cyrela Brazil Realty SA Empreendimentos e Participacoes | 3.1% | R$17.6M | AddedR$3.4M | ▲ 26.0% | Finance |
 TFCO4 | Track & Field Co SA | 2.3% | R$13.1M | Held | ▼ 9.9% | Retail Trade |
 PETR4 | Petroleo Brasileiro SA | 2.3% | R$12.7M | Trimmed−R$14.3M | ▲ 19.6% | Energy Minerals |
 CSAN3 | Cosan S.A. | 2.2% | R$12.2M | Held | ▼ 2.0% | Utilities |
 ODPV3 | – | 2.1% | R$12.0M | Trimmed−R$1.4M | – | Other |
 PRIO3 | Prio SA | 2.0% | R$11.0M | AddedR$2.4M | ▲ 7.6% | Energy Minerals |
 LREN3 | Lojas Renner S.A. | 1.6% | R$8.8M | Trimmed−R$4.3M | ▼ 0.2% | Retail Trade |
 DIRR3 | Direcional Engenharia S.A. | 1.3% | R$7.3M | Trimmed−R$13.6M | ▼ 14.1% | Finance |
 VIVA3 | Vivara Participacoes SA | 1.1% | R$6.2M | Trimmed−R$1.5M | ▲ 6.6% | Consumer Durables |
 BPAC11 | Banco BTG Pactual SA | 0.7% | R$4.0M | New | ▲ 45.2% | Finance |
 ORVR3 | Orizon Valorizacao de Residuos SA | 0.7% | R$3.8M | Held | ▲ 15.2% | Utilities |
 RDOR3 | Rede D'Or Sao Luiz SA | 0.3% | R$1.5M | New | ▲ 13.1% | Health Services |
 CYRE4 | Cyrela Brazil Realty SA Empreendimentos e Participacoes | 0.2% | R$853.0K | New | ▲ 29.2% | Finance |
Short positions
Borrowed shares the fund has to return