Apex Capital
APEX CAPITAL LTDA
Portfolio as of March 2026compared with January 2026
In stocks
R$215.3M
Stocks
47
Top 10: 57%
Funds
4
YTD
▲ 23.7%
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$114.8M
- Sells
- −R$93.4M
- New positions
- 17
- Exited
- 11
Sectors
- Finance35.0%
- Utilities17.1%
- Energy Minerals12.1%
- Retail Trade9.5%
- BDRs5.3%
- Transportation5.0%
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 |
|---|---|---|---|---|---|---|
 PETR4 | Petroleo Brasileiro SA | 12.0% | R$25.9M | AddedR$18.6M | ▲ 19.6% | Energy Minerals |
 BBDC4 | Banco Bradesco SA | 8.8% | R$18.9M | AddedR$15.1M | ▲ 7.9% | Finance |
 B3SA3 | B3 SA - Brasil, Bolsa, Balcao | 5.4% | R$11.5M | AddedR$2.9M | ▲ 28.9% | Finance |
 CSAN3 | Cosan S.A. | 5.3% | R$11.5M | AddedR$2.6M | ▼ 2.0% | Utilities |
 CURY3 | Cury Construtora e Incorporadora SA | 5.3% | R$11.3M | AddedR$4.6M | ▼ 7.4% | Finance |
 EMBJ3 | Embraer S.A. | 4.8% | R$10.4M | AddedR$6.6M | ▲ 18.0% | Electronic Technology |
 VALE3 | Vale S.A. | 4.3% | R$9.3M | Trimmed−R$1.2M | ▼ 20.7% | Non-Energy Minerals |
 PGMN3 | Empreendimentos Pague Menos SA | 3.8% | R$8.2M | AddedR$710.7K | ▼ 8.2% | Retail Trade |
 AXIA7 | AXIA Energia SA | 3.6% | R$7.7M | New | ▲ 5.0% | Utilities |
 CPLE3 | Companhia Paranaense de Energia | 3.4% | R$7.3M | Trimmed−R$4.7M | ▲ 14.4% | Utilities |
 CEAB3 | C&A Modas SA | 3.4% | R$7.3M | New | ▲ 17.9% | Retail Trade |
 XPBR31 | XP Inc. | 3.2% | R$6.9M | New | ▲ 62.5% | BDR |
 ECOR3 | EcoRodovias Infraestrutura e Logistica S.A. | 2.9% | R$6.3M | AddedR$2.5M | ▲ 63.1% | Transportation |
 ODPV3 | – | 2.8% | R$6.1M | New | – | Other |
 BBAS3 | Banco do Brasil S.A. | 2.7% | R$5.7M | New | ▲ 5.2% | Finance |
 ENGI11 | Energisa SA | 2.2% | R$4.8M | AddedR$2.5M | ▲ 28.7% | Utilities |
 IRBR3 | IRB Brasil Resseguros SA | 2.2% | R$4.8M | Trimmed−R$1.4M | ▲ 27.9% | Finance |
 RDOR3 | Rede D'Or Sao Luiz SA | 2.1% | R$4.5M | New | ▲ 13.1% | Health Services |
 RAIL3 | Rumo SA | 2.0% | R$4.4M | New | ▲ 18.8% | Transportation |
 MOVI3 | Movida Participacoes SA | 2.0% | R$4.3M | New | ▲ 54.6% | Finance |
 BPAC11 | Banco BTG Pactual SA | 1.8% | R$3.8M | Trimmed−R$103.4K | ▲ 45.2% | Finance |
 ROXO34 | Nu Holdings Ltd. | 1.8% | R$3.8M | Trimmed−R$1.7M | ▲ 2.2% | BDR |
 PLPL3 | Plano & Plano Desenvolvimento Imobiliario Ltda | 1.8% | R$3.8M | Trimmed−R$1.6M | ▼ 39.3% | Finance |
 CYRE3 | Cyrela Brazil Realty SA Empreendimentos e Participacoes | 1.7% | R$3.7M | AddedR$226.9K | ▲ 26.0% | Finance |
 ORVR3 | Orizon Valorizacao de Residuos SA | 1.6% | R$3.5M | Trimmed−R$1.3M | ▲ 15.2% | Utilities |
 JHSF3 | JHSF Participacoes S.A. | 1.6% | R$3.4M | New | ▲ 53.1% | Finance |
 PNVL3 | Dimed S.A. Distribuidora de Medicamentos | 1.6% | R$3.4M | New | ▲ 11.4% | Retail Trade |
 HBOR3 | Helbor Empreendimentos S.A. | 1.4% | R$3.0M | Held | ▲ 11.3% | Consumer Durables |
 RENT3 | Localiza Rent A Car SA | 0.8% | R$1.8M | Trimmed−R$9.3M | ▲ 12.5% | Finance |
 CYRE4 | Cyrela Brazil Realty SA Empreendimentos e Participacoes | 0.6% | R$1.4M | New | ▲ 29.2% | Finance |
 TOTS3 | TOTVS S.A. | 0.5% | R$1.2M | Trimmed−R$1.5M | ▲ 20.4% | Technology Services |
 AURE3 | Auren Energia SA | 0.5% | R$975.6K | New | ▲ 27.3% | Utilities |
 VBBR3 | Vibra Energia SA | 0.4% | R$811.5K | New | ▲ 16.0% | Retail Trade |
 SBFG3 | Grupo SBF S.A. | 0.4% | R$791.1K | AddedR$791.0K | ▼ 3.8% | Retail Trade |
 AXIA3 | AXIA Energia SA | 0.3% | R$620.7K | Trimmed−R$7.4M | ▲ 1.2% | Utilities |
 ITSA4 | Itausa SA | 0.3% | R$569.5K | Held | ▲ 13.0% | Finance |
 ALUP11 | Alupar Investimento SA | 0.2% | R$498.0K | New | ▲ 9.4% | Utilities |
 INBR32 | Inter & Co., Inc. | 0.2% | R$448.5K | New | ▼ 20.1% | BDR |
 EVEB31 | Eve Holding Inc | 0.1% | R$209.1K | Held | ▼ 35.7% | BDR |
 RENT4 | Localiza Rent A Car SA | 0.1% | R$175.7K | Held | ▲ 13.4% | Finance |
 PRIO3 | Prio SA | 0.1% | R$158.9K | Trimmed−R$6.1M | ▲ 7.6% | Energy Minerals |
 LREN3 | Lojas Renner S.A. | 0.0% | R$49.6K | AddedR$43.7K | ▼ 0.2% | Retail Trade |
 PETR3 | Petroleo Brasileiro SA | 0.0% | R$42.8K | Trimmed−R$10.1M | ▲ 20.3% | Energy Minerals |
 DIRR3 | Direcional Engenharia S.A. | 0.0% | R$38.5K | New | ▼ 14.1% | Finance |
 HAPV3 | Hapvida Participacoes e Investimentos SA | 0.0% | R$707 | New | ▼ 5.4% | Health Services |
 BBSE3 | BB Seguridade Participacoes SA | 0.0% | R$348.1 | Trimmed−R$18.1K | ▲ 21.5% | Finance |
 EZTC3 | EZ TEC Empreendimentos e Participacoes SA | 0.0% | R$13.98 | Held | ▲ 35.9% | Finance |
Funds
Quota return, after fees
| Fund | Class | AUM | YTD | 12 months | Latest portfolio |
|---|---|---|---|---|---|
| APEX LONG BIASED II ICATU | Previdência Multimercado Livre | R$88.2M | ▲ 26.6% | ▲ 38.3% | Jun/26 |
| APEX EQUITY HEDGE | Multimercados Livre | R$61.4M | ▲ 13.6% | ▲ 21.6% | Jun/26 |
| APEX MASTER LONG BIASED | Multimercados Livre | R$59.5M | ▲ 26.0% | ▲ 39.1% | Jun/26 |
| APEX LONG ONLY PREV | Previdência Ações Ativo | R$51.0M | ▲ 28.5% | ▲ 39.7% | Mar/26 |
Past performance is no guarantee of future results.