GENOA CAPITAL VESTAS MASTER

Multimercados Livre · CNPJ 48.966.484/0001-54 · benchmark DI de um dia

Portfolio as of January 2026

AUM

R$5.3B

In stocks

R$539.3M

Stocks

YTD

▲ 21.9%

12 months

▲ 26.2%

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. November 2025

Stock	Company	% of stock portfolio	Value	Month	Since then	Sector
RENT3	Localiza Rent A Car SA	11.0%	R$59.2M	Trimmed−R$8.7M	▲ 9.2%	Finance
CPLE3	Companhia Paranaense de Energia	7.2%	R$38.6M	New	▲ 33.9%	Utilities
SBSP3	Companhia de Saneamento Basico do Estado de Sao Paulo SABESP	6.5%	R$35.0M	Trimmed−R$15.1M	▲ 15.4%	Utilities
DIRR3	Direcional Engenharia S.A.	6.4%	R$34.4M	Trimmed−R$23.2M	▼ 18.1%	Finance
ENEV3	Eneva S.A.	6.2%	R$33.3M	AddedR$16.7M	▲ 51.5%	Utilities
NEOE3	–	5.5%	R$29.8M	Held	–	Other
BBDC4	Banco Bradesco SA	5.2%	R$28.0M	Trimmed−R$34.1M	▼ 3.0%	Finance
PRIO3	Prio SA	5.1%	R$27.4M	Trimmed−R$26.5M	▲ 39.7%	Energy Minerals
SMFT3	Smartfit Escola de Ginastica e Danca SA	4.0%	R$21.7M	AddedR$5.4M	▲ 15.9%	Consumer Services
WEGE3	WEG SA	3.7%	R$20.0M	Trimmed−R$16.9M	▼ 5.7%	Producer Manufacturing
RADL3	Raia Drogasil S.A.	3.6%	R$19.5M	New	▼ 11.8%	Retail Trade
MULT3	Multiplan Empreendimentos Imobiliarios SA	3.5%	R$18.7M	New	▲ 15.2%	Finance
CURY3	Cury Construtora e Incorporadora SA	3.3%	R$18.0M	AddedR$11.9M	▼ 5.2%	Finance
CSMG3	Companhia de Saneamento de Minas Gerais	3.3%	R$17.7M	Trimmed−R$7.4M	▲ 24.2%	Utilities
CEAB3	C&A Modas SA	3.2%	R$17.2M	New	▲ 19.6%	Retail Trade
CYRE3	Cyrela Brazil Realty SA Empreendimentos e Participacoes	2.9%	R$15.6M	Held	▲ 15.1%	Finance
AXIA3	AXIA Energia SA	2.9%	R$15.5M	Trimmed−R$1.1M	▲ 9.0%	Utilities
VBBR3	Vibra Energia SA	2.7%	R$14.6M	Trimmed−R$20.9M	▲ 27.5%	Retail Trade
ALOS3	Allos S.A.	2.6%	R$13.8M	New	▲ 15.5%	Finance
ITSA4	Itausa SA	2.4%	R$13.1M	Held	▲ 15.7%	Finance
VALE3	Vale S.A.	2.3%	R$12.6M	Trimmed−R$68.0M	▼ 22.4%	Non-Energy Minerals
ITUB4	Itau Unibanco Holding SA	2.1%	R$11.4M	Trimmed−R$2.3M	▲ 7.3%	Finance
XPBR31	XP Inc.	1.9%	R$10.3M	New	▲ 55.8%	BDR
BBDC3	Banco Bradesco SA	1.5%	R$8.0M	Trimmed−R$6.6M	▼ 0.5%	Finance
AXIA7	AXIA Energia SA	0.8%	R$4.2M	New	▲ 12.6%	Utilities
RENT4	Localiza Rent A Car SA	0.2%	R$1.3M	New	▲ 10.1%	Finance
RAIZ4	Raizen SA	0.0%	R$207.5K	Trimmed−R$1.1M	▼ 60.2%	Retail Trade
ASAI3	Sendas Distribuidora SA	0.0%	R$186.3K	Trimmed−R$12.5M	▲ 63.1%	Retail Trade
BBAS3	Banco do Brasil S.A.	0.0%	R$74.3K	New	▼ 4.0%	Finance
BEEF3	Minerva S.A.	0.0%	R$24.2K	AddedR$24.2K	▼ 30.0%	Distribution Services
GGBR4	Gerdau S.A.	0.0%	R$112.1	New	▲ 17.1%	Non-Energy Minerals
IRBR3	IRB Brasil Resseguros SA	0.0%	R$57.85	New	▲ 20.7%	Finance
BBSE3	BB Seguridade Participacoes SA	0.0%	R$37.31	New	▲ 13.4%	Finance
SLCE3	SLC Agricola S.A.	0.0%	R$16.05	Trimmed−R$17.0K	▲ 6.4%	Process Industries
CMIG4	Companhia Energetica de Minas Gerais SA	0.0%	R$11.48	New	▲ 3.0%	Utilities
VAMO3	Vamos Locacao de Caminhoes, Maquinas e Equipamentos SA	0.0%	R$3.99	Trimmed−R$57.7K	▲ 66.4%	Finance
KLBN4	Klabin SA	0.0%	R$3.85	New	▼ 4.2%	Non-Energy Minerals

Exited this month

Short positions

Borrowed shares the fund has to return