Arbor

ARBOR GESTÃO DE RECURSOS LTDA.

Portfolio as of March 2026compared with February 2026

In stocks

R$287.8M

Stocks

Top 10: 94%

Funds

YTD

▲ 14.4%

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$16.1M
Sells: −R$25.5M
New positions: 1
Exited: 1

Sectors

BDRs100.0%

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
TSMC34	Taiwan Semiconductor Manufacturing Co., Ltd. ADR	17.9%	R$51.4M	Held	▲ 22.4%	BDR
MSFT34	Microsoft Corp	13.2%	R$37.9M	Held	▲ 38.3%	BDR
AMZO34	Amazon.com, Inc.	11.7%	R$33.6M	AddedR$5.0M	▲ 22.1%	BDR
M1TA34	Meta Platforms Inc	9.9%	R$28.4M	AddedR$3.3M	▲ 18.3%	BDR
VISA34	Visa Inc.	9.2%	R$26.5M	Held	▲ 29.2%	BDR
MSCD34	Mastercard Inc	8.7%	R$25.2M	Held	▲ 16.4%	BDR
SPGI34	S&P Global Inc	6.4%	R$18.3M	Held	▲ 0.8%	BDR
BKNG34	Booking Holdings Inc.	6.2%	R$17.8M	AddedR$2.7M	▼ 6.6%	BDR
BLAK34	BlackRock, Inc.	5.8%	R$16.8M	AddedR$3.6M	▲ 14.0%	BDR
N1DA34	Nasdaq, Inc.	5.2%	R$14.9M	Held	▲ 8.3%	BDR
SAPP34	SAP SE ADR	3.2%	R$9.2M	Trimmed−R$1.5M	▲ 31.8%	BDR
TMOS34	Thermo Fisher Scientific Inc.	1.3%	R$3.9M	Trimmed−R$3.3M	▲ 35.3%	BDR
GOGL34	Alphabet Inc	0.9%	R$2.5M	Held	▲ 15.0%	BDR
NVDC34	NVIDIA Corporation	0.5%	R$1.5M	New	▲ 20.3%	BDR