SPX HORNET EQUITY HEDGE MASTER

Multimercados Livre · CNPJ 45.494.480/0001-22 · benchmark DI de um dia

Portfolio as of June 2026

AUM

R$3.2B

In stocks

R$3.2B

Stocks

YTD

▲ 24.6%

12 months

▲ 33.9%

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
VALE3	Vale S.A.	9.2%	R$294.4M	AddedR$28.0M	▼ 16.0%	Non-Energy Minerals
PETR4	Petroleo Brasileiro SA	8.4%	R$267.4M	AddedR$47.5M	▲ 54.0%	Energy Minerals
RAIL3	Rumo SA	5.5%	R$177.0M	AddedR$50.5M	▲ 43.7%	Transportation
ALOS3	Allos S.A.	5.5%	R$174.7M	AddedR$13.4M	▲ 27.2%	Finance
AXIA7	AXIA Energia SA	4.1%	R$132.2M	AddedR$11.8M	▲ 12.2%	Utilities
SUZB3	Suzano S.A.	3.8%	R$122.2M	Held	▲ 6.7%	Process Industries
SMFT3	Smartfit Escola de Ginastica e Danca SA	3.8%	R$121.4M	Trimmed−R$34.0M	▲ 30.3%	Consumer Services
ITSA4	Itausa SA	3.8%	R$120.0M	AddedR$115.7M	▲ 18.1%	Finance
PETR3	Petroleo Brasileiro SA	3.5%	R$111.0M	Trimmed−R$3.4M	▲ 55.2%	Energy Minerals
RDOR3	Rede D'Or Sao Luiz SA	3.0%	R$96.6M	Trimmed−R$32.6M	▲ 27.0%	Health Services
CSAN3	Cosan S.A.	2.9%	R$92.6M	AddedR$61.0M	▲ 42.4%	Utilities
GOAU4	Metalurgica Gerdau SA	2.8%	R$89.2M	Trimmed−R$15.9M	▲ 29.5%	Non-Energy Minerals
UGPA3	Ultrapar Participacoes S.A.	2.6%	R$82.7M	AddedR$49.5M	▲ 52.6%	Retail Trade
GGBR4	Gerdau S.A.	2.4%	R$75.9M	AddedR$59.5M	▲ 26.3%	Non-Energy Minerals
CSMG3	Companhia de Saneamento de Minas Gerais	2.3%	R$74.4M	AddedR$60.4M	▲ 6.0%	Utilities
CYRE3	Cyrela Brazil Realty SA Empreendimentos e Participacoes	2.3%	R$74.2M	AddedR$37.9M	▲ 49.5%	Finance
DXCO3	Dexco SA	2.2%	R$71.6M	AddedR$5.4M	▲ 66.4%	Producer Manufacturing
ENEV3	Eneva S.A.	2.0%	R$63.0M	AddedR$57.9M	▲ 19.8%	Utilities
CPLE3	Companhia Paranaense de Energia	1.9%	R$59.6M	Trimmed−R$64.5M	▲ 17.5%	Utilities
PRIO3	Prio SA	1.7%	R$55.7M	Held	▲ 36.6%	Energy Minerals
TIMS3	TIM S.A.	1.7%	R$53.7M	AddedR$29.5M	▼ 12.9%	Communications
WEGE3	WEG SA	1.7%	R$53.5M	AddedR$53.0M	▲ 4.0%	Producer Manufacturing
BBDC3	Banco Bradesco SA	1.5%	R$47.2M	Held	▲ 15.6%	Finance
MOTV3	Motiva Infraestrutura de Mobilidade SA	1.5%	R$47.0M	AddedR$46.2M	▲ 39.5%	Transportation
HYPE3	Hypera S.A.	1.5%	R$46.8M	AddedR$6.8M	▲ 30.9%	Health Technology
ITUB4	Itau Unibanco Holding SA	1.3%	R$42.2M	Trimmed−R$284.3M	▲ 15.7%	Finance
DIRR3	Direcional Engenharia S.A.	1.2%	R$39.1M	Trimmed−R$27.6M	▼ 18.0%	Finance
RADL3	Raia Drogasil S.A.	1.1%	R$33.7M	AddedR$19.0M	▲ 28.6%	Retail Trade
BBDC4	Banco Bradesco SA	1.0%	R$30.8M	AddedR$23.3M	▲ 14.3%	Finance
PNVL3	Dimed S.A. Distribuidora de Medicamentos	0.9%	R$29.0M	AddedR$10.8M	▲ 46.0%	Retail Trade
CEAB3	C&A Modas SA	0.9%	R$28.3M	AddedR$654.9K	▲ 32.7%	Retail Trade
VTRU3	Vitru Educacao SA	0.8%	R$26.4M	Trimmed−R$1.3M	▲ 57.8%	Commercial Services
CBAV3	Companhia Brasileira de Aluminio	0.8%	R$26.1M	Held	▲ 4.6%	Non-Energy Minerals
CMIG4	Companhia Energetica de Minas Gerais SA	0.8%	R$25.2M	AddedR$11.6M	▲ 8.8%	Utilities
CYRE4	Cyrela Brazil Realty SA Empreendimentos e Participacoes	0.8%	R$25.2M	AddedR$4.6M	▲ 52.2%	Finance
BMOB3	Bemobi Mobile Tech SA	0.8%	R$24.6M	Trimmed−R$1.5M	▲ 42.1%	Technology Services
SAUD3	Bradsaude SA	0.7%	R$20.9M	Held	▲ 9.0%	Health Services
EMBJ3	Embraer S.A.	0.7%	R$20.9M	Trimmed−R$11.8M	▲ 11.0%	Electronic Technology
SBSP3	Companhia de Saneamento Basico do Estado de Sao Paulo SABESP	0.6%	R$20.0M	Trimmed−R$23.2M	▲ 9.8%	Utilities
PSSA3	Porto Seguro S.A.	0.6%	R$19.6M	New	▼ 0.6%	Finance
AZZA3	Azzas 2154 SA	0.5%	R$15.4M	Held	▲ 52.0%	Consumer Non-Durables
CLSC4	Centrais Eletricas de Santa Catarina SA	0.5%	R$14.8M	Held	▲ 36.9%	Utilities
EQTL3	Equatorial S.A.	0.4%	R$13.0M	AddedR$5.0M	▲ 27.3%	Utilities
CSED3	Cruzeiro do Sul Educacional SA	0.3%	R$11.1M	AddedR$1.5M	▲ 88.8%	Consumer Services
TTEN3	Tres Tentos Agroindustrial SA	0.3%	R$10.6M	New	▼ 7.7%	Commercial Services
XPBR31	XP Inc.	0.3%	R$10.4M	Trimmed−R$1.4M	▲ 89.4%	BDR
ABEV3	Ambev SA	0.3%	R$10.1M	AddedR$7.7M	▲ 3.4%	Consumer Non-Durables
EZTC3	EZ TEC Empreendimentos e Participacoes SA	0.3%	R$8.6M	Trimmed−R$1.4M	▲ 45.8%	Finance
ORVR3	Orizon Valorizacao de Residuos SA	0.3%	R$8.6M	AddedR$1.5M	▲ 3.9%	Utilities
MULT3	Multiplan Empreendimentos Imobiliarios SA	0.3%	R$8.1M	AddedR$804.0K	▲ 29.7%	Finance
SBFG3	Grupo SBF S.A.	0.2%	R$7.4M	AddedR$153.0K	▲ 14.5%	Retail Trade
NATU3	Natura Cosmeticos SA	0.2%	R$6.7M	Held	▼ 12.4%	Consumer Non-Durables
ITUB3	Itau Unibanco Holding S.A.	0.1%	R$4.8M	AddedR$2.0M	▲ 19.3%	Finance
ALPA4	Alpargatas SA	0.1%	R$4.7M	New	▲ 49.3%	Consumer Non-Durables
GMAT3	Grupo Mateus SA	0.1%	R$4.7M	New	▲ 53.7%	Retail Trade
CURY3	Cury Construtora e Incorporadora SA	0.1%	R$4.2M	AddedR$2.0M	▼ 6.6%	Finance
SMTO3	Sao Martinho S.A.	0.1%	R$3.6M	New	▲ 35.5%	Process Industries
VIVT3	Telefonica Brasil S.A.	0.1%	R$3.4M	AddedR$3.1M	▼ 5.2%	Communications
B3SA3	B3 SA - Brasil, Bolsa, Balcao	0.1%	R$3.1M	Trimmed−R$281.9K	▲ 63.2%	Finance
TFCO4	Track & Field Co SA	0.1%	R$3.0M	AddedR$1.7M	▼ 1.6%	Retail Trade