BTG Pactual
BTG PACTUAL ASSET MANAGEMENT S/A DTVM · BTG PACTUAL GESTÃO E CONSULTORIA DE INVESTIMENTOS LTDA · BTG PACTUAL GESTORA DE INVESTIMENTOS ALTERNATIVOS LTDA.
Portfolio as of March 2026compared with February 2026
In stocks
R$24.9B
Stocks
186
Top 10: 79%
Funds
96
YTD
▲ 15.0%
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$825.8M
- Sells
- −R$336.1M
- New positions
- 4
- Exited
- 3
Sectors
- Health Services56.8%
- Other10.6%
- Retail Trade7.2%
- Utilities6.9%
- Finance6.6%
- Consumer Services2.7%
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 |
|---|---|---|---|---|---|---|
 RDOR3 | Rede D'Or Sao Luiz SA | 55.1% | R$13.7B | AddedR$356.1M | ▲ 13.1% | Health Services |
 EGGY3 | – | 10.0% | R$2.5B | Held | – | Other |
 ASAI3 | Sendas Distribuidora SA | 5.6% | R$1.4B | Held | ▲ 47.5% | Retail Trade |
 AXIA3 | AXIA Energia SA | 1.8% | R$444.5M | Held | ▲ 1.2% | Utilities |
 ALPK3 | Allpark Empreendimentos Participacoes e Servicos S.A. | 1.7% | R$419.6M | Held | ▲ 31.0% | Consumer Services |
 DASA3 | Diagnosticos da America S.A. | 1.4% | R$349.8M | Held | ▲ 93.2% | Health Services |
 SBSP3 | Companhia de Saneamento Basico do Estado de Sao Paulo SABESP | 1.0% | R$251.1M | Held | ▲ 2.8% | Utilities |
 AXIA7 | AXIA Energia SA | 1.0% | R$241.8M | Held | ▲ 5.0% | Utilities |
 ITUB4 | Itau Unibanco Holding SA | 0.9% | R$236.0M | AddedR$20.2M | ▲ 12.2% | Finance |
 ITUB3 | Itau Unibanco Holding S.A. | 0.9% | R$216.8M | Trimmed−R$25.4M | ▲ 23.3% | Finance |
 CVCB3 | CVC Brasil Operadora e Agencia de Viagens SA | 0.9% | R$213.2M | Held | ▼ 15.7% | Consumer Services |
 VLID3 | Valid Solucoes SA | 0.9% | R$211.6M | Held | ▲ 0.2% | Commercial Services |
 PRIO3 | Prio SA | 0.7% | R$181.8M | Held | ▲ 7.6% | Energy Minerals |
 VALE3 | Vale S.A. | 0.7% | R$176.1M | Trimmed−R$17.7M | ▼ 20.7% | Non-Energy Minerals |
 CPLE3 | Companhia Paranaense de Energia | 0.7% | R$168.4M | AddedR$19.8M | ▲ 14.4% | Utilities |
 EQTL3 | Equatorial S.A. | 0.6% | R$160.4M | AddedR$21.5M | ▲ 21.6% | Utilities |
 PETR4 | Petroleo Brasileiro SA | 0.6% | R$142.1M | AddedR$66.9M | ▲ 19.6% | Energy Minerals |
 CSAN3 | Cosan S.A. | 0.6% | R$139.6M | AddedR$61.3M | ▼ 2.0% | Utilities |
 SLCE3 | SLC Agricola S.A. | 0.6% | R$139.2M | Trimmed−R$5.5M | ▼ 8.7% | Process Industries |
 BRAV3 | Brava Energia SA | 0.5% | R$134.7M | Trimmed−R$9.6M | ▲ 1.9% | Energy Minerals |
 VBBR3 | Vibra Energia SA | 0.5% | R$132.0M | AddedR$25.4M | ▲ 16.0% | Retail Trade |
 NEOE3 | – | 0.5% | R$116.1M | AddedR$30.6M | – | Other |
 CSMG3 | Companhia de Saneamento de Minas Gerais | 0.5% | R$114.2M | AddedR$16.3M | ▲ 10.1% | Utilities |
 RENT3 | Localiza Rent A Car SA | 0.4% | R$111.4M | Trimmed−R$20.3M | ▲ 12.5% | Finance |
 RADL3 | Raia Drogasil S.A. | 0.4% | R$110.8M | AddedR$23.3M | ▼ 8.2% | Retail Trade |
 PSSA3 | Porto Seguro S.A. | 0.4% | R$109.3M | Trimmed−R$11.3M | ▲ 4.2% | Finance |
 MOVI3 | Movida Participacoes SA | 0.4% | R$105.3M | AddedR$2.2M | ▲ 54.6% | Finance |
 BIOM3 | Biomm SA | 0.4% | R$101.2M | Held | ▼ 16.7% | Health Technology |
 TTEN3 | Tres Tentos Agroindustrial SA | 0.4% | R$95.9M | Trimmed−R$5.1M | ▼ 12.9% | Commercial Services |
 ITSA4 | Itausa SA | 0.4% | R$94.5M | Trimmed−R$14.9M | ▲ 13.0% | Finance |
 SUZB3 | Suzano S.A. | 0.4% | R$88.9M | Held | ▼ 18.3% | Process Industries |
 CYRE3 | Cyrela Brazil Realty SA Empreendimentos e Participacoes | 0.4% | R$88.1M | AddedR$1.8M | ▲ 26.0% | Finance |
 UGPA3 | Ultrapar Participacoes S.A. | 0.3% | R$78.7M | Held | ▲ 38.5% | Retail Trade |
 PETR3 | Petroleo Brasileiro SA | 0.3% | R$78.6M | Trimmed−R$34.8M | ▲ 20.3% | Energy Minerals |
 TEND3 | Construtora Tenda SA | 0.3% | R$74.7M | AddedR$7.2M | ▼ 8.3% | Finance |
 GGBR4 | Gerdau S.A. | 0.3% | R$67.8M | Trimmed−R$8.5M | ▲ 38.2% | Non-Energy Minerals |
 ETER3 | Eternit S.A. | 0.3% | R$66.7M | Held | ▼ 10.1% | Non-Energy Minerals |
 B3SA3 | B3 SA - Brasil, Bolsa, Balcao | 0.3% | R$65.8M | Trimmed−R$2.5M | ▲ 28.9% | Finance |
 ENEV3 | Eneva S.A. | 0.3% | R$64.6M | AddedR$5.0M | ▲ 30.4% | Utilities |
 MOTV3 | Motiva Infraestrutura de Mobilidade SA | 0.2% | R$61.3M | AddedR$4.5M | ▲ 29.0% | Transportation |
 BBDC3 | Banco Bradesco SA | 0.2% | R$56.9M | Held | ▲ 9.1% | Finance |
 LWSA3 | LWSA S.A. | 0.2% | R$47.9M | Held | ▲ 46.6% | Technology Services |
 WEGE3 | WEG SA | 0.2% | R$47.7M | Trimmed−R$7.6M | ▼ 4.4% | Producer Manufacturing |
 DIRR3 | Direcional Engenharia S.A. | 0.2% | R$47.4M | AddedR$9.5M | ▼ 14.1% | Finance |
 CXSE3 | Caixa Seguridade Participacoes SA | 0.2% | R$46.0M | AddedR$30.7M | ▲ 16.0% | Finance |
 EVEN3 | Even Construtora E Incorporadora S.A. | 0.2% | R$45.2M | AddedR$1.7M | ▼ 20.2% | Finance |
 BBAS3 | Banco do Brasil S.A. | 0.2% | R$44.5M | Trimmed−R$24.5M | ▲ 5.2% | Finance |
 CURY3 | Cury Construtora e Incorporadora SA | 0.2% | R$43.5M | Trimmed−R$9.3M | ▼ 7.4% | Finance |
 VULC3 | Vulcabras SA | 0.2% | R$42.5M | Trimmed−R$1.4M | ▼ 6.2% | Consumer Non-Durables |
 GOAU4 | Metalurgica Gerdau SA | 0.2% | R$38.2M | Held | ▲ 39.7% | Non-Energy Minerals |
 MILS3 | Mills Locacao Servicos e Logistica S.A. | 0.1% | R$36.8M | Trimmed−R$2.3M | ▲ 17.5% | Finance |
 ONCO3 | Oncoclinicas do Brasil Servicos Medicos SA | 0.1% | R$35.4M | AddedR$7.7M | ▼ 31.8% | Health Services |
 AGRO3 | BrasilAgro Cia Brasileira de Propriedades Agricolas | 0.1% | R$35.3M | Held | ▼ 13.5% | Finance |
 EMBJ3 | Embraer S.A. | 0.1% | R$35.0M | Trimmed−R$20.6M | ▲ 18.0% | Electronic Technology |
 GEPA4 | Rio Paranapanema Energia SA | 0.1% | R$34.9M | Held | ▲ 7.9% | Utilities |
 ALOS3 | Allos S.A. | 0.1% | R$34.2M | Trimmed−R$3.5M | ▲ 17.7% | Finance |
 CEAB3 | C&A Modas SA | 0.1% | R$34.0M | AddedR$25.6M | ▲ 17.9% | Retail Trade |
 SMFT3 | Smartfit Escola de Ginastica e Danca SA | 0.1% | R$32.9M | Trimmed−R$12.5M | ▲ 33.9% | Consumer Services |
 BLAU3 | Blau Farmaceutica SA | 0.1% | R$30.8M | Held | ▲ 24.3% | Health Technology |
 MULT3 | Multiplan Empreendimentos Imobiliarios SA | 0.1% | R$29.8M | Trimmed−R$4.4M | ▲ 19.3% | Finance |
Exited this month
Funds
Quota return, after fees
| Fund | Class | AUM | YTD | 12 months | Latest portfolio |
|---|---|---|---|---|---|
| CHARDONNAY | Ações Invest. no Exterior | R$17.3B | ▼ 2.4% | ▲ 2.6% | Sep/26 |
| DELTA FM&B | Ações Setoriais | R$16.0B | ▲ 6.0% | ▲ 11.6% | Mar/26 |
| TEMPRANILLO | Ações Invest. no Exterior | R$11.2B | ▲ 44.8% | ▲ 60.2% | Jun/26 |
| DE DUERO | Ações Invest. no Exterior | R$5.7B | ▲ 47.5% | ▲ 63.2% | Sep/26 |
| AGPJ2 | Fechados de Ações | R$3.7B | ▼ 22.0% | ▼ 21.9% | Feb/26 |
| AGPJ | Ações Invest. no Exterior | R$3.5B | ▲ 1.3% | ▲ 4.1% | Sep/26 |
| SNAPPER ROCKS STRATEGY | Ações Invest. no Exterior | R$2.0B | ▲ 121.3% | ▲ 11.6% | Jun/26 |
| FUNDO DE INVESTIMENTO FINANCEIRO EM ACOES MISTYQUE | Ações Invest. no Exterior | R$1.9B | ▲ 21.9% | ▲ 37.7% | Sep/26 |
| LAB | Ações Invest. no Exterior | R$1.8B | ▲ 10.4% | ▲ 21.6% | Sep/26 |
| BTG PACTUAL CRÉDITO CORPORATIVO PREVIDÊNCIA | Previdência Multimercado Livre | R$1.6B | ▲ 11.2% | ▲ 15.1% | Jun/26 |
| PROGRESSO | Ações Invest. no Exterior | R$1.6B | ▲ 20.8% | ▲ 28.1% | Sep/26 |
| FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO NORSTAR | Multimercados Livre | R$1.4B | ▼ 31.6% | ▼ 30.1% | Sep/26 |
| Z BROTHERS | Ações Invest. no Exterior | R$939.6M | ▲ 21.2% | ▲ 32.2% | Nov/25 |
| BTG PACTUAL VOLT | Multimercados Livre | R$909.0M | – | – | Jun/26 |
| BTG PACTUAL CREDITO CORPORATIVO BRASILPREV PREVIDENCIA | Previdência Multimercado Livre | R$904.7M | ▲ 11.5% | ▲ 15.4% | Jun/26 |
| FÚRIA | Multimercados Invest. no Exterior | R$864.3M | ▼ 9.3% | ▲ 4.8% | Jun/26 |
| BTG PACTUAL E3 | Multimercados Invest. no Exterior | R$792.1M | – | – | Jun/26 |
| X LAB | Fechados de Ações | R$766.9M | ▲ 10.2% | ▲ 22.0% | Sep/26 |
| BTG PACTUAL SYNERGY LONG ONLY | Ações Livre | R$701.8M | – | – | Mar/26 |
| BTG PACTUAL ABSOLUTO INSTITUCIONAL MASTER | Ações Livre | R$664.5M | ▲ 28.7% | ▲ 36.1% | Mar/26 |
| BTG MULTIGESTOR CREDIT | Multimercados Livre | R$613.4M | ▲ 11.0% | ▲ 15.3% | Sep/26 |
| ACCESS MULTIGESTOR ESTRUTURADO | Multimercados Livre | R$541.0M | ▲ 12.0% | ▲ 16.4% | Sep/26 |
| BTG PACTUAL CREDITO CORPORATIVO PLUS | Multimercados Livre | R$522.6M | ▲ 11.9% | ▲ 16.7% | Aug/26 |
| FHS | Ações Invest. no Exterior | R$508.1M | ▲ 13.9% | ▲ 22.5% | Sep/26 |
| BTG PACTUAL FUSION | Multimercados Invest. no Exterior | R$501.1M | – | – | Jun/26 |
| BTG PACTUAL FOCUS | Multimercados Livre | R$454.6M | – | – | Jun/26 |
| M40 | Multimercados Invest. no Exterior | R$420.1M | ▲ 4.3% | ▲ 9.0% | Jun/26 |
| BTG CLAVE ALPHA MACRO MASTER | Multimercados Macro | R$419.5M | ▲ 26.7% | ▲ 31.9% | Jun/26 |
| VIDEIRAS | Ações Invest. no Exterior | R$415.0M | ▲ 5.7% | ▲ 9.9% | Sep/26 |
| 2019RV1 | Ações Invest. no Exterior | R$332.9M | ▲ 13.4% | ▲ 73.0% | Sep/26 |
| FUNDO DE INVESTIMENTO MULTIMERCADO CRÉDITO PRIVADO DOREL L | Multimercados Invest. no Exterior | R$323.0M | ▲ 12.1% | ▲ 17.0% | Feb/25 |
| HARPA | Multimercados Invest. no Exterior | R$322.0M | ▲ 11.8% | ▲ 14.5% | Aug/26 |
| RIVERSIDE | Ações Invest. no Exterior | R$314.5M | – | – | Sep/26 |
| 1122SF | Fundos de Mono Ação | R$291.0M | ▲ 2.6% | ▲ 259.4% | Sep/26 |
| PS EQUITY INFLATION | Ações Livre | R$274.2M | ▲ 24.6% | ▲ 33.0% | Mar/26 |
| BTG PACTUAL SYNERGY EQUITY HEDGE | Previdência Multimercado Livre | R$261.3M | ▲ 13.7% | ▲ 18.0% | Aug/26 |
| D+1 | Ações Invest. no Exterior | R$258.5M | ▲ 33.9% | ▲ 48.6% | Sep/26 |
| BTG PACTUAL E2 | Multimercados Invest. no Exterior | R$253.6M | – | – | Jun/26 |
| FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO VEGA | Multimercados Invest. no Exterior | R$239.8M | ▼ 9.1% | ▲ 9.7% | Apr/25 |
| FIF MULTIMERCADO PEDRA REDONDA INVESTIMENTO NO EXTERIOR CRÉDITO PRIVADO - | Multimercados Invest. no Exterior | R$236.7M | ▲ 10.6% | ▲ 14.4% | Jan/25 |
Past performance is no guarantee of future results.