SPRINGS EQUITY HEDGE PLUS MASTER

Multimercados Livre · CNPJ 55.298.741/0001-92 · benchmark Não se aplica

Portfolio as of June 2026

AUM

R$142.0M

In stocks

R$169.6M

Stocks

YTD

▲ 22.9%

12 months

▲ 30.6%

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
BRAV3	Brava Energia SA	23.0%	R$39.0M	Trimmed−R$13.5M	▲ 8.7%	Energy Minerals
DESK3	Desktop SA	11.5%	R$19.4M	AddedR$3.8M	▲ 8.0%	Communications
CBAV3	Companhia Brasileira de Aluminio	11.1%	R$18.9M	AddedR$8.0M	▲ 4.6%	Non-Energy Minerals
MILS3	Mills Locacao Servicos e Logistica S.A.	6.6%	R$11.1M	AddedR$9.4M	▲ 4.2%	Finance
PETR4	Petroleo Brasileiro SA	4.0%	R$6.8M	AddedR$3.3M	▲ 54.0%	Energy Minerals
PINE4	Banco PINE S.A.	3.0%	R$5.1M	Trimmed−R$1.5M	▲ 38.1%	Finance
ITUB4	Itau Unibanco Holding SA	2.9%	R$4.8M	New	▲ 15.7%	Finance
CSAN3	Cosan S.A.	2.3%	R$3.9M	AddedR$3.8M	▲ 42.4%	Utilities
AXIA3	AXIA Energia SA	2.1%	R$3.6M	New	▲ 9.0%	Utilities
ORVR3	Orizon Valorizacao de Residuos SA	2.1%	R$3.6M	Trimmed−R$174.0K	▲ 3.9%	Utilities
MDNE3	Moura Dubeux Engenharia SA	2.1%	R$3.6M	Held	▲ 4.6%	Finance
SBFG3	Grupo SBF S.A.	2.0%	R$3.5M	AddedR$328.2K	▲ 14.5%	Retail Trade
CYRE3	Cyrela Brazil Realty SA Empreendimentos e Participacoes	1.9%	R$3.3M	New	▲ 49.5%	Finance
BMOB3	Bemobi Mobile Tech SA	1.9%	R$3.2M	Trimmed−R$737.1K	▲ 42.1%	Technology Services
XPBR31	XP Inc.	1.9%	R$3.1M	New	▲ 89.4%	BDR
TEND3	Construtora Tenda SA	1.8%	R$3.1M	Trimmed−R$1.1M	▼ 21.8%	Finance
CSMG3	Companhia de Saneamento de Minas Gerais	1.6%	R$2.7M	New	▲ 6.0%	Utilities
SMFT3	Smartfit Escola de Ginastica e Danca SA	1.5%	R$2.6M	New	▲ 30.3%	Consumer Services
CEAB3	C&A Modas SA	1.5%	R$2.5M	AddedR$402.1K	▲ 32.7%	Retail Trade
RDOR3	Rede D'Or Sao Luiz SA	1.3%	R$2.1M	AddedR$784.4K	▲ 27.0%	Health Services
RENT3	Localiza Rent A Car SA	1.2%	R$2.1M	Trimmed−R$419.6K	▲ 27.3%	Finance
USIM3	Usinas Siderurgicas de Minas Gerais SA-Usiminas	1.2%	R$2.1M	Trimmed−R$1.8M	▼ 13.5%	Non-Energy Minerals
ENEV3	Eneva S.A.	1.2%	R$2.0M	New	▲ 19.8%	Utilities
VALE3	Vale S.A.	1.1%	R$1.9M	New	▼ 16.0%	Non-Energy Minerals
TUPY3	Tupy S.A.	1.0%	R$1.7M	Trimmed−R$468.8K	▲ 38.1%	Producer Manufacturing
TTEN3	Tres Tentos Agroindustrial SA	0.8%	R$1.3M	AddedR$30.2K	▼ 7.7%	Commercial Services
TPIS3	TPI - Triunfo Participacoes e Investimentos SA	0.8%	R$1.3M	Trimmed−R$227.7K	▲ 11.8%	Transportation
IRBR3	IRB Brasil Resseguros SA	0.8%	R$1.3M	New	▲ 26.7%	Finance
ALOS3	Allos S.A.	0.7%	R$1.1M	Trimmed−R$763.2K	▲ 27.2%	Finance
SUZB3	Suzano S.A.	0.6%	R$1.1M	New	▲ 6.7%	Process Industries
ISAE4	Isa Energia Brasil SA	0.6%	R$1.1M	AddedR$50.6K	▲ 3.5%	Utilities
SAUD3	Bradsaude SA	0.6%	R$979.3K	Trimmed−R$2.7M	▲ 9.0%	Health Services
AZZA3	Azzas 2154 SA	0.5%	R$931.0K	New	▲ 52.0%	Consumer Non-Durables
MOVI3	Movida Participacoes SA	0.5%	R$878.0K	AddedR$46.0K	▲ 112.6%	Finance
LWSA3	LWSA S.A.	0.5%	R$820.7K	Trimmed−R$843.1K	▲ 40.3%	Technology Services
SHOW3	–	0.4%	R$753.2K	AddedR$77.6K	–	Other
PRNR3	Priner Servicos Industriais SA	0.4%	R$606.1K	Trimmed−R$1.4M	▲ 18.4%	Industrial Services
ATED3	Atom Educacao e Editora S.A.	0.2%	R$419.3K	New	▼ 42.3%	Technology Services
EQTL3	Equatorial S.A.	0.2%	R$340.3K	Trimmed−R$3.2M	▲ 27.3%	Utilities
USIM5	Usinas Siderurgicas de Minas Gerais SA-Usiminas	0.1%	R$223.1K	New	▼ 19.8%	Non-Energy Minerals
SMTO3	Sao Martinho S.A.	0.1%	R$205.7K	New	▲ 35.5%	Process Industries
CASH3	Meliuz SA	0.1%	R$106.4K	AddedR$32.5K	▲ 24.6%	Commercial Services
BMGB4	Banco Bmg SA BMG	0.1%	R$97.3K	Trimmed−R$6.2M	▲ 36.2%	Finance
CSNA3	Companhia Siderurgica Nacional	0.0%	R$43.4K	Trimmed−R$12.9K	▲ 30.1%	Non-Energy Minerals
BBDC3	Banco Bradesco SA	0.0%	R$42.6K	New	▲ 15.6%	Finance
JHSF3	JHSF Participacoes S.A.	0.0%	R$10.2K	New	▲ 25.2%	Finance
PINE14	–	0.0%	R$9.5K	Trimmed−R$183.5K	–	Other