LGCY

Ações Livre · CNPJ 38.249.250/0001-32 · benchmark Ibovespa

Portfolio as of November 2025

AUM

R$222.1M

In stocks

R$251.5M

Stocks

YTD

▲ 22.3%

12 months

▲ 33.4%

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
EQTL3	Equatorial S.A.	26.8%	R$67.3M	Trimmed−R$20.3M	▲ 24.7%	Utilities
ORVR3	Orizon Valorizacao de Residuos SA	9.0%	R$22.6M	AddedR$811.6K	▲ 27.9%	Utilities
PRIO3	Prio SA	7.3%	R$18.4M	AddedR$4.2M	▲ 91.5%	Energy Minerals
VIVT3	Telefonica Brasil S.A.	7.1%	R$17.7M	Held	▼ 9.1%	Communications
MBRF3	MBRF Global Foods Company S.A.	6.2%	R$15.6M	Held	▼ 4.1%	Consumer Non-Durables
B3SA3	B3 SA - Brasil, Bolsa, Balcao	6.1%	R$15.4M	AddedR$15.3M	▲ 58.5%	Finance
ABEV3	Ambev SA	4.1%	R$10.2M	Trimmed−R$3.3M	▲ 21.6%	Consumer Non-Durables
RAIL3	Rumo SA	3.6%	R$9.0M	Trimmed−R$303.7K	▲ 14.5%	Transportation
TOTS3	TOTVS S.A.	3.4%	R$8.6M	Trimmed−R$347.1K	▼ 1.7%	Technology Services
RADL3	Raia Drogasil S.A.	3.0%	R$7.5M	Held	▼ 10.0%	Retail Trade
PETR4	Petroleo Brasileiro SA	3.0%	R$7.5M	AddedR$2.3M	▲ 83.1%	Energy Minerals
CMIG4	Companhia Energetica de Minas Gerais SA	2.8%	R$7.1M	Trimmed−R$669.4K	▲ 2.9%	Utilities
WEGE3	WEG SA	2.3%	R$5.7M	Held	▲ 10.3%	Producer Manufacturing
RDOR3	Rede D'Or Sao Luiz SA	2.0%	R$4.9M	Trimmed−R$4.1M	▼ 5.4%	Health Services
SMFT3	Smartfit Escola de Ginastica e Danca SA	1.7%	R$4.2M	Held	▼ 2.3%	Consumer Services
LREN3	Lojas Renner S.A.	1.5%	R$3.7M	AddedR$842.8K	▼ 5.2%	Retail Trade
POMO4	Marcopolo SA	1.1%	R$2.8M	New	▼ 15.8%	Producer Manufacturing
PETZ3	–	0.9%	R$2.2M	Held	–	Other
CYRE3	Cyrela Brazil Realty SA Empreendimentos e Participacoes	0.8%	R$2.0M	New	▲ 14.6%	Finance
LWSA3	LWSA S.A.	0.5%	R$1.3M	Trimmed−R$318.7K	▲ 19.5%	Technology Services
NATU3	Natura Cosmeticos SA	0.4%	R$1.0M	Trimmed−R$314.9K	▼ 7.7%	Consumer Non-Durables
BRAV3	Brava Energia SA	0.3%	R$859.5K	AddedR$45.8K	▲ 53.7%	Energy Minerals
HAPV3	Hapvida Participacoes e Investimentos SA	0.2%	R$507.5K	AddedR$154.0K	▼ 32.3%	Health Services
MILS3	Mills Locacao Servicos e Logistica S.A.	0.2%	R$441.3K	AddedR$65.2K	▲ 20.4%	Finance
RANI3	Irani Papel e Embalagem SA	0.2%	R$439.4K	AddedR$198.3K	▼ 5.2%	Process Industries
ECOR3	EcoRodovias Infraestrutura e Logistica S.A.	0.2%	R$429.7K	AddedR$413.4K	▲ 27.1%	Transportation
PGMN3	Empreendimentos Pague Menos SA	0.2%	R$427.0K	Trimmed−R$137.8K	▼ 3.2%	Retail Trade
TIMS3	TIM S.A.	0.2%	R$426.9K	Trimmed−R$2.8M	▼ 24.8%	Communications
DIRR3	Direcional Engenharia S.A.	0.2%	R$423.5K	AddedR$33.6K	▼ 38.3%	Finance
LEVE3	Mahle-Metal Leve S.A.	0.2%	R$418.6K	Held	▲ 17.2%	Producer Manufacturing
UNIP6	Unipar Carbocloro SA	0.2%	R$414.1K	AddedR$96.3K	▲ 2.5%	Process Industries
ABCB4	Banco ABC Brasil SA Conv	0.2%	R$413.7K	AddedR$22.9K	▲ 22.1%	Finance
VALE3	Vale S.A.	0.2%	R$413.6K	New	▼ 2.9%	Non-Energy Minerals
BMOB3	Bemobi Mobile Tech SA	0.2%	R$411.4K	New	▲ 23.8%	Technology Services
COGN3	Cogna Educacao S.A.	0.2%	R$410.2K	New	▼ 8.3%	Commercial Services
VULC3	Vulcabras SA	0.2%	R$409.2K	New	▼ 19.4%	Consumer Non-Durables
LAVV3	LAVVI Empreendimentos Imobiliarios SA	0.2%	R$407.6K	Held	▼ 4.6%	Finance
JHSF3	JHSF Participacoes S.A.	0.2%	R$405.7K	Held	▲ 85.0%	Finance
GGPS3	GPS Participacoes e Empreendimentos SA	0.2%	R$404.0K	AddedR$30.0K	▼ 1.5%	Commercial Services
CMIN3	CSN Mineracao SA	0.2%	R$403.7K	New	▼ 7.4%	Non-Energy Minerals
NEOE3	–	0.2%	R$403.4K	Trimmed−R$16.0K	–	Other
CVCB3	CVC Brasil Operadora e Agencia de Viagens SA	0.2%	R$403.4K	Trimmed−R$301.5K	▼ 11.2%	Consumer Services
BRSR6	Banco do Estado do Rio Grande do Sul SA	0.2%	R$402.0K	New	▲ 24.3%	Finance
CSMG3	Companhia de Saneamento de Minas Gerais	0.2%	R$399.5K	New	▲ 52.7%	Utilities
EGIE3	ENGIE Brasil Energia S.A.	0.2%	R$397.4K	Held	▲ 2.0%	Utilities
VIVA3	Vivara Participacoes SA	0.2%	R$397.1K	Trimmed−R$18.7M	▼ 21.3%	Consumer Durables
CPLE3	Companhia Paranaense de Energia	0.2%	R$392.9K	New	▲ 29.6%	Utilities
CPFE3	CPFL Energia S.A.	0.2%	R$389.5K	Trimmed−R$21.5K	▲ 2.7%	Utilities
CURY3	Cury Construtora e Incorporadora SA	0.2%	R$387.5K	AddedR$11.8K	▼ 14.6%	Finance
UGPA3	Ultrapar Participacoes S.A.	0.2%	R$386.7K	Trimmed−R$10.9K	▲ 80.9%	Retail Trade
SBFG3	Grupo SBF S.A.	0.1%	R$359.7K	Held	▼ 19.0%	Retail Trade
VBBR3	Vibra Energia SA	0.1%	R$351.0K	AddedR$350.0K	▲ 47.4%	Retail Trade
SEER3	Grupo Ser Educacional SA	0.1%	R$339.3K	AddedR$23.2K	▲ 94.6%	Consumer Services
MDIA3	M. Dias Branco SA Industria e Comercio de Alimentos	0.1%	R$327.3K	New	▼ 23.2%	Consumer Non-Durables
LOGG3	Log Commercial Properties e Participacoes SA	0.1%	R$313.8K	New	▲ 19.3%	Industrial Services
MOTV3	Motiva Infraestrutura de Mobilidade SA	0.1%	R$310.2K	New	▲ 27.7%	Transportation
ASAI3	Sendas Distribuidora SA	0.1%	R$293.1K	Held	▲ 47.9%	Retail Trade
CASH3	Meliuz SA	0.1%	R$234.6K	New	▲ 25.6%	Commercial Services
EZTC3	EZ TEC Empreendimentos e Participacoes SA	0.1%	R$224.6K	New	▲ 19.2%	Finance
SMTO3	Sao Martinho S.A.	0.1%	R$219.8K	New	▲ 52.5%	Process Industries

Exited this month

TFCO4R$71.5K

CPLE6R$361.2K

SBSP3R$11.0M

Short positions

Borrowed shares the fund has to return