Alphakey Capital
ALPHAKEY CAPITAL MANAGEMENT INVESTIMENTOS LTDA
Portfolio as of March 2026compared with February 2026
In stocks
R$824.5M
Stocks
50
Top 10: 57%
Funds
4
YTD
▲ 20.2%
AUM-weighted average
Past performance is no guarantee of future results.
Disclosed so far
Stock holdings disclosed each month
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Funds can keep positions confidential for up to 180 days, so recent months show up incomplete (hatched) until the confidentiality period ends. The portfolio shown is from the last complete month.
This month
- Buys
- +R$309.7M
- Sells
- −R$195.5M
- New positions
- 14
- Exited
- 26
Sectors
- Utilities17.4%
- Retail Trade13.9%
- Finance13.7%
- Other12.7%
- Non-Energy Minerals10.6%
- Industrial Services8.6%
Portfolio
All of the manager's funds combined · since then: today's price vs. Mar/26
| Stock | Company | % of stock portfolio | Value | Month | Since then | Sector |
|---|---|---|---|---|---|---|
 NEOE3 | – | 12.7% | R$104.6M | Trimmed−R$3.2M | – | Other |
 PRNR3 | Priner Servicos Industriais SA | 8.6% | R$70.7M | AddedR$22.9M | ▲ 5.7% | Industrial Services |
 CBAV3 | Companhia Brasileira de Aluminio | 7.7% | R$63.8M | AddedR$37.3M | ▲ 7.3% | Non-Energy Minerals |
 TFCO4 | Track & Field Co SA | 7.1% | R$58.5M | AddedR$2.8M | ▼ 9.9% | Retail Trade |
 ALOS3 | Allos S.A. | 5.0% | R$41.4M | AddedR$7.3M | ▲ 17.7% | Finance |
 ORVR3 | Orizon Valorizacao de Residuos SA | 3.6% | R$29.9M | AddedR$9.7M | ▲ 15.2% | Utilities |
 EQTL3 | Equatorial S.A. | 3.3% | R$27.0M | AddedR$2.1M | ▲ 21.6% | Utilities |
 CSAN3 | Cosan S.A. | 3.0% | R$24.8M | AddedR$5.1M | ▼ 2.0% | Utilities |
 CPLE3 | Companhia Paranaense de Energia | 3.0% | R$24.4M | AddedR$14.2M | ▲ 14.4% | Utilities |
 VALE3 | Vale S.A. | 2.8% | R$23.2M | New | ▼ 20.7% | Non-Energy Minerals |
 CEAB3 | C&A Modas SA | 2.8% | R$23.1M | New | ▲ 17.9% | Retail Trade |
 ROXO34 | Nu Holdings Ltd. | 2.8% | R$22.7M | AddedR$12.4M | ▲ 2.2% | BDR |
 AXIA7 | AXIA Energia SA | 2.6% | R$21.6M | AddedR$5.6M | ▲ 5.0% | Utilities |
 RENT3 | Localiza Rent A Car SA | 2.3% | R$18.6M | New | ▲ 12.5% | Finance |
 ASAI3 | Sendas Distribuidora SA | 2.1% | R$17.4M | AddedR$12.9M | ▲ 47.5% | Retail Trade |
 KEPL3 | Kepler Weber SA | 2.1% | R$17.3M | AddedR$4.3M | ▼ 3.0% | Producer Manufacturing |
 SMFT3 | Smartfit Escola de Ginastica e Danca SA | 2.0% | R$16.5M | AddedR$3.6M | ▲ 33.9% | Consumer Services |
 SUZB3 | Suzano S.A. | 2.0% | R$16.2M | New | ▼ 18.3% | Process Industries |
 TTEN3 | Tres Tentos Agroindustrial SA | 1.9% | R$15.3M | Trimmed−R$19.7M | ▼ 12.9% | Commercial Services |
 TOTS3 | TOTVS S.A. | 1.8% | R$15.0M | AddedR$3.3M | ▲ 20.4% | Technology Services |
 MDNE3 | Moura Dubeux Engenharia SA | 1.8% | R$14.4M | AddedR$335.4K | ▼ 5.0% | Finance |
 CSMG3 | Companhia de Saneamento de Minas Gerais | 1.6% | R$13.2M | New | ▲ 10.1% | Utilities |
 SBFG3 | Grupo SBF S.A. | 1.5% | R$12.7M | New | ▼ 3.8% | Retail Trade |
 PRIO3 | Prio SA | 1.4% | R$11.9M | AddedR$2.4M | ▲ 7.6% | Energy Minerals |
 DIRR3 | Direcional Engenharia S.A. | 1.4% | R$11.5M | AddedR$7.0M | ▼ 14.1% | Finance |
 IRBR3 | IRB Brasil Resseguros SA | 1.4% | R$11.3M | Trimmed−R$5.9M | ▲ 27.9% | Finance |
 ANIM3 | Anima Holding SA | 1.3% | R$10.6M | New | ▲ 19.5% | Consumer Services |
 VULC3 | Vulcabras SA | 1.2% | R$9.7M | AddedR$2.6M | ▼ 6.2% | Consumer Non-Durables |
 MELI34 | MercadoLibre, Inc. | 1.2% | R$9.6M | Trimmed−R$16.5M | ▲ 5.6% | BDR |
 CASH3 | Meliuz SA | 1.1% | R$9.4M | AddedR$825.4K | ▲ 37.9% | Commercial Services |
 RDOR3 | Rede D'Or Sao Luiz SA | 1.0% | R$8.2M | Trimmed−R$24.0M | ▲ 13.1% | Health Services |
 MOTV3 | Motiva Infraestrutura de Mobilidade SA | 0.9% | R$7.8M | New | ▲ 29.0% | Transportation |
 TEND3 | Construtora Tenda SA | 0.9% | R$7.3M | New | ▼ 8.3% | Finance |
 MBRF3 | MBRF Global Foods Company S.A. | 0.8% | R$6.3M | New | ▼ 14.3% | Consumer Non-Durables |
 B3SA3 | B3 SA - Brasil, Bolsa, Balcao | 0.6% | R$4.6M | AddedR$955.0K | ▲ 28.9% | Finance |
 MRVE3 | MRV Engenharia e Participacoes S.A. | 0.5% | R$3.9M | New | ▲ 6.1% | Consumer Durables |
 AZZA3 | Azzas 2154 SA | 0.5% | R$3.8M | AddedR$3.8M | ▲ 5.7% | Consumer Non-Durables |
 BRKM3 | Braskem S.A. | 0.4% | R$3.1M | AddedR$367.9K | ▼ 49.1% | Process Industries |
 VBBR3 | Vibra Energia SA | 0.3% | R$2.8M | Trimmed−R$11.4M | ▲ 16.0% | Retail Trade |
 CXSE3 | Caixa Seguridade Participacoes SA | 0.2% | R$1.7M | AddedR$251.8K | ▲ 16.0% | Finance |
 FRAS3 | Frasle Mobility S.A. | 0.2% | R$1.7M | AddedR$765.4K | ▲ 28.8% | Producer Manufacturing |
 CPFE3 | CPFL Energia S.A. | 0.2% | R$1.6M | AddedR$165.5K | ▲ 2.7% | Utilities |
 BBAS3 | Banco do Brasil S.A. | 0.1% | R$1.1M | AddedR$847.3K | ▲ 5.2% | Finance |
 LIGT3 | Light S.A. | 0.1% | R$1.1M | Held | ▼ 21.7% | Utilities |
 BEEF3 | Minerva S.A. | 0.1% | R$1.0M | AddedR$957.5K | ▲ 1.9% | Distribution Services |
 SOJA3 | Boa Safra Sementes SA | 0.1% | R$888.9K | New | ▲ 17.0% | Process Industries |
 BRKM5 | Braskem S.A. | 0.1% | R$692.6K | New | ▼ 55.7% | Process Industries |
 PINE4 | Banco PINE S.A. | 0.1% | R$614.9K | New | ▲ 26.1% | Finance |
 RADL3 | Raia Drogasil S.A. | 0.0% | R$11.8K | Trimmed−R$9.3M | ▼ 8.2% | Retail Trade |
 RIAA3 | RIACHUELO | 0.0% | R$4.7K | Trimmed−R$1.9M | ▲ 20.4% | Distribution Services |
Exited this month
Funds
Quota return, after fees
| Fund | Class | AUM | YTD | 12 months | Latest portfolio |
|---|---|---|---|---|---|
| ALPHAKEY LONG SHORT PLUS | Ações Livre | R$553.5M | ▲ 18.6% | ▲ 23.6% | Mar/26 |
| ALPHAKEY MASTER | Ações Índice Ativo | R$313.7M | ▲ 27.0% | ▲ 33.6% | Mar/26 |
| ALPHAKEY LONG SHORT MASTER | Multimercados Livre | R$292.5M | ▲ 15.7% | ▲ 20.3% | Jun/26 |
| BEST IDEAS | Ações Livre | R$66.0M | ▲ 20.7% | ▲ 22.9% | Mar/26 |
Past performance is no guarantee of future results.