SAFRA KEPLER MACRO MASTER
Multimercados Livre · CNPJ 54.784.679/0001-86 · benchmark DI de um dia
Portfolio as of March 2026
AUM
R$56.0M
In stocks
R$106.0M
Stocks
73
YTD
▲ 19.9%
12 months
▲ 20.0%
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. February 2026
| Stock | Company | % of stock portfolio | Value | Month | Since then | Sector |
|---|---|---|---|---|---|---|
 AXIA3 | AXIA Energia SA | 15.2% | R$16.2M | AddedR$14.0M | ▲ 1.2% | Utilities |
 MULT3 | Multiplan Empreendimentos Imobiliarios SA | 7.2% | R$7.7M | AddedR$6.0M | ▲ 19.3% | Finance |
 PETR4 | Petroleo Brasileiro SA | 6.9% | R$7.3M | AddedR$1.7M | ▲ 19.6% | Energy Minerals |
 VALE3 | Vale S.A. | 6.2% | R$6.5M | Trimmed−R$296.9K | ▼ 20.7% | Non-Energy Minerals |
 BBDC4 | Banco Bradesco SA | 4.9% | R$5.2M | Held | ▲ 7.9% | Finance |
 PRNR3 | Priner Servicos Industriais SA | 3.9% | R$4.1M | Trimmed−R$158.0K | ▲ 5.7% | Industrial Services |
 PETR3 | Petroleo Brasileiro SA | 3.9% | R$4.1M | AddedR$471.0K | ▲ 20.3% | Energy Minerals |
 VIVA3 | Vivara Participacoes SA | 3.7% | R$3.9M | AddedR$3.1M | ▲ 6.6% | Consumer Durables |
 ITSA4 | Itausa SA | 2.7% | R$2.9M | Held | ▲ 13.0% | Finance |
 VBBR3 | Vibra Energia SA | 2.5% | R$2.6M | AddedR$107.0K | ▲ 16.0% | Retail Trade |
 MDNE3 | Moura Dubeux Engenharia SA | 2.5% | R$2.6M | Trimmed−R$209.6K | ▼ 5.0% | Finance |
 XPBR31 | XP Inc. | 2.4% | R$2.6M | AddedR$1.9M | ▲ 62.5% | BDR |
 TEND3 | Construtora Tenda SA | 2.4% | R$2.6M | AddedR$196.6K | ▼ 8.3% | Finance |
 DESK3 | Desktop SA | 2.2% | R$2.3M | AddedR$1.1M | ▲ 6.8% | Communications |
 DIRR3 | Direcional Engenharia S.A. | 2.0% | R$2.1M | AddedR$267.3K | ▼ 14.1% | Finance |
 ECOR3 | EcoRodovias Infraestrutura e Logistica S.A. | 1.9% | R$2.0M | AddedR$111.3K | ▲ 63.1% | Transportation |
 BMOB3 | Bemobi Mobile Tech SA | 1.9% | R$2.0M | AddedR$43.0K | ▲ 24.6% | Technology Services |
 CPLE3 | Companhia Paranaense de Energia | 1.7% | R$1.8M | Held | ▲ 14.4% | Utilities |
 CSMG3 | Companhia de Saneamento de Minas Gerais | 1.5% | R$1.6M | Held | ▲ 10.1% | Utilities |
 RENT3 | Localiza Rent A Car SA | 1.4% | R$1.5M | Trimmed−R$1.2M | ▲ 12.5% | Finance |
 RDOR3 | Rede D'Or Sao Luiz SA | 1.4% | R$1.5M | Trimmed−R$31.2K | ▲ 13.1% | Health Services |
 ALOS3 | Allos S.A. | 1.2% | R$1.3M | Held | ▲ 17.7% | Finance |
 EQTL3 | Equatorial S.A. | 1.2% | R$1.3M | AddedR$207.9K | ▲ 21.6% | Utilities |
 PRIO3 | Prio SA | 1.2% | R$1.2M | Held | ▲ 7.6% | Energy Minerals |
 ENEV3 | Eneva S.A. | 1.0% | R$1.0M | AddedR$137.4K | ▲ 30.4% | Utilities |
 AXIA7 | AXIA Energia SA | 0.9% | R$950.9K | Held | ▲ 5.0% | Utilities |
 MOVI3 | Movida Participacoes SA | 0.9% | R$946.3K | AddedR$321.5K | ▲ 54.6% | Finance |
 EMBJ3 | Embraer S.A. | 0.9% | R$938.9K | AddedR$454.0K | ▲ 18.0% | Electronic Technology |
 RADL3 | Raia Drogasil S.A. | 0.8% | R$843.5K | Held | ▼ 8.2% | Retail Trade |
 AXIA6 | – | 0.8% | R$840.8K | Held | – | Other |
 BEEF3 | Minerva S.A. | 0.8% | R$816.0K | AddedR$564.4K | ▲ 1.9% | Distribution Services |
 COGN3 | Cogna Educacao S.A. | 0.7% | R$772.4K | Trimmed−R$30.4K | ▲ 2.8% | Commercial Services |
 SANB11 | Banco Santander (Brasil) S.A. | 0.7% | R$766.0K | AddedR$367.7K | ▼ 7.9% | Finance |
 AURA33 | Aura Minerals Inc | 0.7% | R$741.4K | Trimmed−R$1.1M | ▲ 1.4% | BDR |
 CSAN3 | Cosan S.A. | 0.7% | R$706.1K | Held | ▼ 2.0% | Utilities |
 CBAV3 | Companhia Brasileira de Aluminio | 0.6% | R$678.3K | Held | ▲ 7.3% | Non-Energy Minerals |
 MOTV3 | Motiva Infraestrutura de Mobilidade SA | 0.6% | R$662.4K | AddedR$412.6K | ▲ 29.0% | Transportation |
 LREN3 | Lojas Renner S.A. | 0.5% | R$552.0K | Held | ▼ 0.2% | Retail Trade |
 BBDC3 | Banco Bradesco SA | 0.5% | R$524.7K | Held | ▲ 9.1% | Finance |
 JBSS32 | JBS N.V. | 0.5% | R$521.1K | Trimmed−R$93.0K | ▼ 30.9% | BDR |
 ITUB4 | Itau Unibanco Holding SA | 0.5% | R$486.4K | Trimmed−R$246.7K | ▲ 12.2% | Finance |
 SBSP3 | Companhia de Saneamento Basico do Estado de Sao Paulo SABESP | 0.4% | R$438.2K | Trimmed−R$188.9K | ▲ 2.8% | Utilities |
 HAPV3 | Hapvida Participacoes e Investimentos SA | 0.4% | R$420.2K | Trimmed−R$225.2K | ▼ 5.4% | Health Services |
 ORVR3 | Orizon Valorizacao de Residuos SA | 0.4% | R$406.8K | Held | ▲ 15.2% | Utilities |
 SMFT3 | Smartfit Escola de Ginastica e Danca SA | 0.4% | R$384.4K | Trimmed−R$30.7K | ▲ 33.9% | Consumer Services |
 RAIL3 | Rumo SA | 0.3% | R$333.2K | AddedR$281.1K | ▲ 18.8% | Transportation |
 CYRE4 | Cyrela Brazil Realty SA Empreendimentos e Participacoes | 0.3% | R$327.2K | New | ▲ 29.2% | Finance |
 TFCO4 | Track & Field Co SA | 0.3% | R$325.8K | Held | ▼ 9.9% | Retail Trade |
 TIMS3 | TIM S.A. | 0.3% | R$310.3K | Held | ▼ 30.7% | Communications |
 TOTS3 | TOTVS S.A. | 0.3% | R$307.5K | New | ▲ 20.4% | Technology Services |
 YDUQ3 | YDUQS Participacoes SA | 0.3% | R$280.3K | Held | ▲ 19.6% | Commercial Services |
 AURE3 | Auren Energia SA | 0.3% | R$265.1K | Held | ▲ 27.3% | Utilities |
 BBAS3 | Banco do Brasil S.A. | 0.2% | R$257.6K | Held | ▲ 5.2% | Finance |
 VIVT3 | Telefonica Brasil S.A. | 0.2% | R$255.6K | Held | ▼ 21.9% | Communications |
 NATU3 | Natura Cosmeticos SA | 0.2% | R$244.3K | New | ▼ 26.7% | Consumer Non-Durables |
 ODPV3 | – | 0.2% | R$241.7K | New | – | Other |
 ENGI11 | Energisa SA | 0.2% | R$239.8K | New | ▲ 28.7% | Utilities |
 MBRF3 | MBRF Global Foods Company S.A. | 0.2% | R$216.7K | Held | ▼ 14.3% | Consumer Non-Durables |
 GOAU4 | Metalurgica Gerdau SA | 0.2% | R$182.2K | Held | ▲ 39.7% | Non-Energy Minerals |
 GGBR4 | Gerdau S.A. | 0.2% | R$178.6K | Held | ▲ 38.2% | Non-Energy Minerals |
Exited this month
Short positions
Borrowed shares the fund has to return
