ENCORE LONG BIAS

Multimercados Livre · CNPJ 37.467.645/0001-49 · benchmark DI de um dia

Portfolio as of June 2026

AUM

R$206.2M

In stocks

R$259.9M

Stocks

YTD

▲ 11.5%

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. May 2026

Stock	Company	% of stock portfolio	Value	Month	Since then	Sector
SMFT3	Smartfit Escola de Ginastica e Danca SA	8.5%	R$22.2M	Trimmed−R$817.1K	▲ 30.3%	Consumer Services
ROXO34	Nu Holdings Ltd.	6.8%	R$17.8M	AddedR$876.7K	▲ 11.7%	BDR
PRIO3	Prio SA	5.7%	R$14.7M	Trimmed−R$521.5K	▲ 36.6%	Energy Minerals
VBBR3	Vibra Energia SA	5.5%	R$14.4M	Trimmed−R$558.9K	▲ 22.7%	Retail Trade
RENT3	Localiza Rent A Car SA	5.2%	R$13.6M	Trimmed−R$444.5K	▲ 27.3%	Finance
PETR4	Petroleo Brasileiro SA	5.2%	R$13.5M	AddedR$6.5M	▲ 54.0%	Energy Minerals
AXIA7	AXIA Energia SA	4.8%	R$12.4M	Trimmed−R$260.9K	▲ 12.2%	Utilities
EQTL3	Equatorial S.A.	4.7%	R$12.3M	Trimmed−R$833.3K	▲ 27.3%	Utilities
ITUB4	Itau Unibanco Holding SA	4.7%	R$12.2M	AddedR$809.9K	▲ 15.7%	Finance
TEND3	Construtora Tenda SA	4.3%	R$11.3M	Trimmed−R$2.5M	▼ 21.8%	Finance
CPLE3	Companhia Paranaense de Energia	4.0%	R$10.3M	Held	▲ 17.5%	Utilities
ASAI3	Sendas Distribuidora SA	3.7%	R$9.6M	Trimmed−R$357.5K	▲ 60.0%	Retail Trade
ALOS3	Allos S.A.	3.6%	R$9.4M	AddedR$3.0M	▲ 27.2%	Finance
ENEV3	Eneva S.A.	3.5%	R$9.2M	Trimmed−R$1.2M	▲ 19.8%	Utilities
CEAB3	C&A Modas SA	3.3%	R$8.5M	AddedR$1.8M	▲ 32.7%	Retail Trade
MELI34	MercadoLibre, Inc.	3.2%	R$8.2M	Trimmed−R$1.8M	▲ 7.1%	BDR
ECOR3	EcoRodovias Infraestrutura e Logistica S.A.	3.0%	R$7.7M	Trimmed−R$285.3K	▲ 84.6%	Transportation
CURY3	Cury Construtora e Incorporadora SA	2.6%	R$6.9M	Held	▼ 6.6%	Finance
VIVA3	Vivara Participacoes SA	2.6%	R$6.8M	Held	▲ 20.8%	Consumer Durables
INBR32	Inter & Co., Inc.	2.5%	R$6.6M	Trimmed−R$894.0K	▲ 18.5%	BDR
SBFG3	Grupo SBF S.A.	2.0%	R$5.2M	Trimmed−R$192.0K	▲ 14.5%	Retail Trade
SUZB3	Suzano S.A.	1.6%	R$4.2M	Trimmed−R$711.5K	▲ 6.7%	Process Industries
PNVL3	Dimed S.A. Distribuidora de Medicamentos	1.1%	R$2.8M	Trimmed−R$60.4K	▲ 46.0%	Retail Trade
PGMN3	Empreendimentos Pague Menos SA	0.8%	R$2.1M	Trimmed−R$226.7K	▲ 57.9%	Retail Trade
CXSE3	Caixa Seguridade Participacoes SA	0.7%	R$1.9M	AddedR$1.7M	▲ 8.0%	Finance
UGPA3	Ultrapar Participacoes S.A.	0.6%	R$1.4M	Trimmed−R$406.5K	▲ 52.6%	Retail Trade
CSMG3	Companhia de Saneamento de Minas Gerais	0.5%	R$1.4M	AddedR$89.9K	▲ 6.0%	Utilities
WEGE3	WEG SA	0.5%	R$1.4M	AddedR$1.1M	▲ 4.0%	Producer Manufacturing
IRBR3	IRB Brasil Resseguros SA	0.4%	R$1.0M	New	▲ 26.7%	Finance
VALE3	Vale S.A.	0.3%	R$895.6K	AddedR$490.6K	▼ 16.0%	Non-Energy Minerals
SBSP3	Companhia de Saneamento Basico do Estado de Sao Paulo SABESP	0.3%	R$738.1K	Trimmed−R$234.2K	▲ 9.8%	Utilities
POMO4	Marcopolo SA	0.3%	R$690.0K	New	▼ 17.4%	Producer Manufacturing
RENT4	Localiza Rent A Car SA	0.2%	R$622.1K	Trimmed−R$20.0K	▲ 28.5%	Finance
USIM5	Usinas Siderurgicas de Minas Gerais SA-Usiminas	0.2%	R$509.5K	AddedR$375.2K	▼ 19.8%	Non-Energy Minerals
BBSE3	BB Seguridade Participacoes SA	0.2%	R$481.8K	AddedR$176.3K	▲ 8.0%	Finance
PSSA3	Porto Seguro S.A.	0.2%	R$455.1K	Held	▼ 0.6%	Finance
RECV3	Petroreconcavo SA	0.2%	R$451.1K	Trimmed−R$645.7K	▲ 27.7%	Energy Minerals
LEVE3	Mahle-Metal Leve S.A.	0.2%	R$433.5K	Held	▲ 18.2%	Producer Manufacturing
SAUD3	Bradsaude SA	0.1%	R$352.3K	AddedR$142.4K	▲ 9.0%	Health Services
YDUQ3	YDUQS Participacoes SA	0.1%	R$342.8K	AddedR$326.8K	▲ 63.1%	Commercial Services
RIAA3	RIACHUELO	0.1%	R$267.8K	AddedR$22.9K	▲ 22.5%	Distribution Services
VIVT3	Telefonica Brasil S.A.	0.1%	R$264.8K	New	▼ 5.2%	Communications
AUAU3	Uniao Pet Participacoes SA	0.1%	R$249.2K	AddedR$185.0K	▲ 62.3%	Process Industries
RDOR3	Rede D'Or Sao Luiz SA	0.1%	R$215.2K	New	▲ 27.0%	Health Services
VLID3	Valid Solucoes SA	0.1%	R$212.3K	New	▲ 17.9%	Commercial Services
MDNE3	Moura Dubeux Engenharia SA	0.1%	R$210.8K	AddedR$102.5K	▲ 4.6%	Finance
LREN3	Lojas Renner S.A.	0.1%	R$206.6K	Trimmed−R$29.5K	▲ 1.2%	Retail Trade
DIRR3	Direcional Engenharia S.A.	0.1%	R$189.3K	Trimmed−R$52.9K	▼ 18.0%	Finance
JBSS32	JBS N.V.	0.1%	R$188.6K	New	▲ 5.6%	BDR
RAIL3	Rumo SA	0.1%	R$178.6K	New	▲ 43.7%	Transportation
LOGG3	Log Commercial Properties e Participacoes SA	0.1%	R$172.1K	New	▲ 9.9%	Industrial Services
ABCB4	Banco ABC Brasil SA Conv	0.1%	R$171.1K	New	▲ 25.6%	Finance
ALPA4	Alpargatas SA	0.1%	R$168.3K	AddedR$52.9K	▲ 49.3%	Consumer Non-Durables
ISAE4	Isa Energia Brasil SA	0.1%	R$165.8K	Trimmed−R$1.2M	▲ 3.5%	Utilities
VTRU3	Vitru Educacao SA	0.1%	R$164.3K	AddedR$9.2K	▲ 57.8%	Commercial Services
LWSA3	LWSA S.A.	0.1%	R$160.8K	New	▲ 40.3%	Technology Services
MBRF3	MBRF Global Foods Company S.A.	0.1%	R$158.7K	New	▲ 2.8%	Consumer Non-Durables
CPFE3	CPFL Energia S.A.	0.1%	R$143.3K	Trimmed−R$949.3K	▲ 11.8%	Utilities
ABEV3	Ambev SA	0.1%	R$136.8K	AddedR$61.9K	▲ 3.4%	Consumer Non-Durables
AXIA3	AXIA Energia SA	0.1%	R$136.0K	New	▲ 9.0%	Utilities

Exited this month

Short positions

Borrowed shares the fund has to return