Canvas Capital

CANVAS CAPITAL S.A.

Portfolio as of December 2025compared with November 2025

In stocks

R$3.8M

Stocks

Top 10: 100%

Funds

YTD

▲ 14.3%

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$23.7K
Sells: R$0
New positions: 0
Exited: 0

Sectors

Process Industries68.0%
Retail Trade32.0%

Portfolio

All of the manager's funds combined · since then: today's price vs. Dec/25

Stock	Company	% of stock portfolio	Value	Month	Since then	Sector
SLCE3	SLC Agricola S.A.	39.1%	R$1.5M	Held	▲ 19.7%	Process Industries
RADL3	Raia Drogasil S.A.	32.0%	R$1.2M	AddedR$23.7K	▼ 7.8%	Retail Trade
SUZB3	Suzano S.A.	28.8%	R$1.1M	Held	▼ 17.6%	Process Industries

Funds

Quota return, after fees

Fund	Class	AUM	YTD	12 months	Latest portfolio
CANVAS ENDURO MASTER	Multimercados Macro	R$142.9M	▲ 14.3%	▲ 18.7%	Sep/26

Past performance is no guarantee of future results.