SAFRA MAXWELL MACRO MASTER

Multimercados Livre · CNPJ 32.666.303/0001-34 · benchmark DI de um dia

Portfolio as of April 2026

AUM

R$60.4M

In stocks

R$20.7M

Stocks

YTD

▲ 10.5%

12 months

▲ 11.6%

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
VBBR3	Vibra Energia SA	5.8%	R$1.2M	Held	▲ 10.2%	Retail Trade
MOVI3	Movida Participacoes SA	5.3%	R$1.1M	AddedR$349.0K	▲ 64.4%	Finance
BRAP4	Bradespar SA	4.8%	R$997.4K	Trimmed−R$234.4K	▼ 12.6%	Finance
SIMH3	Simpar SA	4.6%	R$962.2K	Held	▲ 51.5%	Transportation
PRIO3	Prio SA	4.4%	R$916.0K	AddedR$480.3K	▲ 7.3%	Energy Minerals
ALPA4	Alpargatas SA	4.3%	R$888.4K	Trimmed−R$243.3K	▲ 49.3%	Consumer Non-Durables
ALOS3	Allos S.A.	3.2%	R$660.0K	AddedR$149.7K	▲ 16.5%	Finance
RECV3	Petroreconcavo SA	3.1%	R$652.1K	AddedR$213.1K	▼ 1.7%	Energy Minerals
ISAE4	Isa Energia Brasil SA	3.1%	R$646.6K	AddedR$220.4K	▼ 1.4%	Utilities
FLRY3	Fleury SA	3.1%	R$638.3K	New	▲ 75.4%	Health Services
CYRE3	Cyrela Brazil Realty SA Empreendimentos e Participacoes	3.1%	R$635.1K	AddedR$464.3K	▲ 46.5%	Finance
BRSR6	Banco do Estado do Rio Grande do Sul SA	2.9%	R$599.5K	Trimmed−R$13.5K	▲ 16.4%	Finance
POMO4	Marcopolo SA	2.8%	R$590.3K	AddedR$525.3K	▼ 23.6%	Producer Manufacturing
JHSF3	JHSF Participacoes S.A.	2.8%	R$577.1K	Trimmed−R$536.5K	▲ 13.1%	Finance
ITUB4	Itau Unibanco Holding SA	2.6%	R$542.1K	New	▲ 13.0%	Finance
RADL3	Raia Drogasil S.A.	2.3%	R$481.0K	New	▼ 1.5%	Retail Trade
KLBN11	Klabin SA Ctf de Deposito de Acoes Cons of 1 Sh + 4	1.9%	R$396.8K	New	▲ 5.4%	Non-Energy Minerals
GGBR4	Gerdau S.A.	1.6%	R$339.2K	New	▲ 16.1%	Non-Energy Minerals
ABEV3	Ambev SA	1.6%	R$334.4K	AddedR$239.3K	▲ 16.1%	Consumer Non-Durables
INTB3	Intelbras SA Industria de Telecomunicacao Eletronica Brasileir	1.5%	R$303.9K	AddedR$82.7K	▲ 38.6%	Technology Services
B3SA3	B3 SA - Brasil, Bolsa, Balcao	1.4%	R$287.9K	New	▲ 31.5%	Finance
MULT3	Multiplan Empreendimentos Imobiliarios SA	1.3%	R$278.7K	Trimmed−R$28.4K	▲ 19.7%	Finance
NEOE3	–	1.2%	R$254.8K	Trimmed−R$452.2K	–	Other
ANIM3	Anima Holding SA	1.2%	R$248.3K	AddedR$153.4K	▲ 29.5%	Consumer Services
BHIA3	Grupo Casas Bahia S.A.	1.2%	R$246.2K	New	▼ 73.3%	Retail Trade
AURE3	Auren Energia SA	1.2%	R$244.8K	Trimmed−R$456.3K	▲ 9.4%	Utilities
TIMS3	TIM S.A.	1.2%	R$240.9K	Trimmed−R$161.2K	▼ 26.1%	Communications
USIM5	Usinas Siderurgicas de Minas Gerais SA-Usiminas	1.1%	R$230.2K	New	▼ 18.2%	Non-Energy Minerals
TAEE11	Transmissora Alianca De Energia Eletrica S.A.	1.1%	R$226.0K	New	▲ 7.9%	Industrial Services
SANB11	Banco Santander (Brasil) S.A.	1.1%	R$224.2K	Trimmed−R$27.2K	▼ 2.9%	Finance
ENEV3	Eneva S.A.	1.0%	R$207.8K	AddedR$82.2K	▲ 18.2%	Utilities
YDUQ3	YDUQS Participacoes SA	1.0%	R$202.6K	AddedR$195.5K	▲ 46.9%	Commercial Services
TTEN3	Tres Tentos Agroindustrial SA	0.9%	R$192.9K	Trimmed−R$290.2K	▼ 17.1%	Commercial Services
HAPV3	Hapvida Participacoes e Investimentos SA	0.9%	R$192.9K	New	▼ 22.9%	Health Services
EZTC3	EZ TEC Empreendimentos e Participacoes SA	0.9%	R$182.3K	AddedR$182.3K	▲ 36.2%	Finance
VALE3	Vale S.A.	0.9%	R$181.7K	Trimmed−R$1.4M	▼ 19.4%	Non-Energy Minerals
AMER3	Americanas SA	0.8%	R$173.0K	Trimmed−R$308.6K	▲ 20.2%	Retail Trade
RAIL3	Rumo SA	0.8%	R$159.7K	New	▲ 22.7%	Transportation
CSAN3	Cosan S.A.	0.7%	R$147.5K	Trimmed−R$84.5K	▲ 4.6%	Utilities
GGPS3	GPS Participacoes e Empreendimentos SA	0.7%	R$147.0K	AddedR$114.6K	▲ 8.4%	Commercial Services
SUZB3	Suzano S.A.	0.6%	R$133.2K	New	▼ 3.3%	Process Industries
ITSA4	Itausa SA	0.6%	R$131.8K	AddedR$90.3K	▲ 13.5%	Finance
AZZA3	Azzas 2154 SA	0.6%	R$130.9K	New	▲ 25.7%	Consumer Non-Durables
ECOR3	EcoRodovias Infraestrutura e Logistica S.A.	0.6%	R$127.3K	Trimmed−R$102.8K	▲ 56.4%	Transportation
BRKM5	Braskem S.A.	0.6%	R$125.7K	New	▼ 54.5%	Process Industries
ODPV3	–	0.6%	R$124.7K	Trimmed−R$102.4K	–	Other
CBAV3	Companhia Brasileira de Aluminio	0.5%	R$110.0K	Trimmed−R$382.5K	▲ 6.4%	Non-Energy Minerals
GRND3	Grendene S.A.	0.5%	R$109.8K	AddedR$107.9K	▲ 10.3%	Consumer Non-Durables
RAPT4	Randoncorp S.A.	0.5%	R$103.9K	Trimmed−R$15.3K	▲ 53.9%	Producer Manufacturing
HYPE3	Hypera S.A.	0.5%	R$100.2K	AddedR$98.1K	▲ 20.9%	Health Technology
EQTL3	Equatorial S.A.	0.5%	R$97.2K	AddedR$82.5K	▲ 17.2%	Utilities
BEEF3	Minerva S.A.	0.4%	R$93.2K	Trimmed−R$79.0K	▲ 13.9%	Distribution Services
VAMO3	Vamos Locacao de Caminhoes, Maquinas e Equipamentos SA	0.4%	R$91.3K	AddedR$88.4K	▲ 67.7%	Finance
CURY3	Cury Construtora e Incorporadora SA	0.4%	R$90.7K	New	▲ 8.9%	Finance
IGTI11	Iguatemi SA	0.4%	R$90.5K	New	▲ 17.8%	Finance
MDIA3	M. Dias Branco SA Industria e Comercio de Alimentos	0.4%	R$89.7K	AddedR$56.8K	▼ 15.7%	Consumer Non-Durables
EGIE3	ENGIE Brasil Energia S.A.	0.4%	R$86.5K	New	▼ 11.5%	Utilities
CXSE3	Caixa Seguridade Participacoes SA	0.4%	R$80.6K	Trimmed−R$84.8K	▲ 17.7%	Finance
DIRR3	Direcional Engenharia S.A.	0.4%	R$77.3K	New	▼ 11.1%	Finance
ONCO3	Oncoclinicas do Brasil Servicos Medicos SA	0.4%	R$73.9K	AddedR$62.3K	▼ 35.6%	Health Services

Exited this month

Short positions

Borrowed shares the fund has to return