GENOA CAPITAL RADAR MASTER

Multimercados Livre · CNPJ 35.828.652/0001-01 · benchmark DI de um dia

Portfolio as of November 2025

AUM

R$4.7B

In stocks

R$230.9M

Stocks

YTD

▲ 16.3%

12 months

▲ 20.5%

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. October 2025

Stock	Company	% of stock portfolio	Value	Month	Since then	Sector
DIRR3	Direcional Engenharia S.A.	10.6%	R$24.6M	AddedR$1.6M	▼ 38.3%	Finance
VALE3	Vale S.A.	9.0%	R$20.8M	Trimmed−R$24.6M	▼ 2.9%	Non-Energy Minerals
RENT3	Localiza Rent A Car SA	8.8%	R$20.4M	Held	▲ 21.3%	Finance
BBDC4	Banco Bradesco SA	8.0%	R$18.4M	AddedR$13.8M	▲ 5.2%	Finance
CPLE5	–	7.1%	R$16.3M	New	–	Other
SBSP3	Companhia de Saneamento Basico do Estado de Sao Paulo SABESP	7.0%	R$16.3M	AddedR$2.9M	▲ 19.1%	Utilities
PETR4	Petroleo Brasileiro SA	5.6%	R$13.0M	Trimmed−R$22.9M	▲ 83.1%	Energy Minerals
PRIO3	Prio SA	5.5%	R$12.6M	AddedR$4.3M	▲ 91.5%	Energy Minerals
WEGE3	WEG SA	4.4%	R$10.1M	Held	▲ 10.3%	Producer Manufacturing
VBBR3	Vibra Energia SA	4.3%	R$9.8M	AddedR$5.0M	▲ 47.4%	Retail Trade
NEOE3	–	4.1%	R$9.5M	AddedR$3.2M	–	Other
CSMG3	Companhia de Saneamento de Minas Gerais	2.8%	R$6.5M	Held	▲ 52.7%	Utilities
VIVA3	Vivara Participacoes SA	2.7%	R$6.3M	AddedR$5.2M	▼ 21.3%	Consumer Durables
AXIA3	AXIA Energia SA	2.7%	R$6.2M	New	▼ 5.2%	Utilities
SMFT3	Smartfit Escola de Ginastica e Danca SA	2.7%	R$6.2M	AddedR$2.2M	▼ 2.3%	Consumer Services
ASAI3	Sendas Distribuidora SA	2.4%	R$5.5M	AddedR$5.5M	▲ 47.9%	Retail Trade
B3SA3	B3 SA - Brasil, Bolsa, Balcao	2.3%	R$5.3M	AddedR$2.0M	▲ 58.5%	Finance
ENEV3	Eneva S.A.	2.2%	R$5.0M	AddedR$4.9M	▲ 61.0%	Utilities
BBDC3	Banco Bradesco SA	1.9%	R$4.4M	Held	▲ 8.9%	Finance
ITUB4	Itau Unibanco Holding SA	1.8%	R$4.1M	Held	▲ 20.7%	Finance
ITSA4	Itausa SA	1.7%	R$4.0M	Held	▲ 28.1%	Finance
CURY3	Cury Construtora e Incorporadora SA	0.9%	R$2.2M	Held	▼ 14.6%	Finance
RAIL3	Rumo SA	0.9%	R$2.0M	AddedR$2.0M	▲ 14.5%	Transportation
EGIE3	ENGIE Brasil Energia S.A.	0.6%	R$1.3M	Held	▲ 2.0%	Utilities
CMIN3	CSN Mineracao SA	0.0%	R$96.5K	AddedR$35.8K	▼ 7.4%	Non-Energy Minerals
POMO4	Marcopolo SA	0.0%	R$68.6K	New	▼ 15.8%	Producer Manufacturing
RECV3	Petroreconcavo SA	0.0%	R$8.6K	Trimmed−R$1.9K	▲ 19.1%	Energy Minerals
VAMO3	Vamos Locacao de Caminhoes, Maquinas e Equipamentos SA	0.0%	R$3.1K	Trimmed−R$151.2K	▲ 73.4%	Finance
TOTS3	TOTVS S.A.	0.0%	R$85.6	Trimmed−R$83.2K	▼ 1.7%	Technology Services
HAPV3	Hapvida Participacoes e Investimentos SA	0.0%	R$14.1	New	▼ 32.3%	Health Services
CMIG4	Companhia Energetica de Minas Gerais SA	0.0%	R$11.5	Trimmed−R$39.0K	▲ 2.9%	Utilities
CSAN3	Cosan S.A.	0.0%	R$6.16	Trimmed−R$188.3K	▼ 14.4%	Utilities

Exited this month

Short positions

Borrowed shares the fund has to return