Clube do Valor

CLUBE DO VALOR ADMINISTRAÇÃO DE CARTEIRAS DE VALORES MOBILIÁRIOS LTDA

Portfolio as of March 2026compared with February 2026

In stocks

R$350.7M

Stocks

Top 10: 39%

Funds

YTD

▲ 13.7%

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$35.5M
Sells: −R$5.4M
New positions: 1
Exited: 1

Sectors

Finance22.8%
Retail Trade16.0%
Energy Minerals10.1%
Utilities8.4%
Non-Energy Minerals7.9%
Commercial Services6.5%

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
COGN3	Cogna Educacao S.A.	5.0%	R$17.6M	AddedR$2.9M	▲ 2.8%	Commercial Services
BRSR6	Banco do Estado do Rio Grande do Sul SA	4.9%	R$17.3M	AddedR$695.2K	▲ 5.4%	Finance
JHSF3	JHSF Participacoes S.A.	4.8%	R$16.8M	AddedR$659.1K	▲ 53.1%	Finance
SMTO3	Sao Martinho S.A.	3.7%	R$12.9M	Trimmed−R$1.2M	▲ 0.3%	Process Industries
SEER3	Grupo Ser Educacional SA	3.6%	R$12.8M	AddedR$1.2M	▲ 35.1%	Consumer Services
ASAI3	Sendas Distribuidora SA	3.6%	R$12.5M	AddedR$1.2M	▲ 47.5%	Retail Trade
PETR4	Petroleo Brasileiro SA	3.4%	R$12.1M	Trimmed−R$1.4M	▲ 19.6%	Energy Minerals
BRAV3	Brava Energia SA	3.4%	R$12.1M	AddedR$327.1K	▲ 1.9%	Energy Minerals
QUAL3	Qualicorp Consultoria e Corretora de Seguros S.A.	3.4%	R$11.8M	AddedR$2.2M	▲ 3.8%	Health Services
RAPT4	Randoncorp S.A.	3.3%	R$11.6M	AddedR$2.8M	▲ 47.2%	Producer Manufacturing
RECV3	Petroreconcavo SA	3.3%	R$11.4M	Trimmed−R$1.6M	▼ 9.2%	Energy Minerals
GGBR4	Gerdau S.A.	3.1%	R$11.0M	AddedR$1.4M	▲ 38.2%	Non-Energy Minerals
CEAB3	C&A Modas SA	3.1%	R$11.0M	AddedR$303.7K	▲ 17.9%	Retail Trade
GMAT3	Grupo Mateus SA	3.1%	R$10.8M	AddedR$1.2M	▲ 20.0%	Retail Trade
RIAA3	RIACHUELO	3.1%	R$10.8M	New	▲ 20.4%	Distribution Services
GRND3	Grendene S.A.	3.0%	R$10.5M	AddedR$627.6K	▲ 1.9%	Consumer Non-Durables
CMIN3	CSN Mineracao SA	3.0%	R$10.4M	AddedR$1.1M	▲ 1.0%	Non-Energy Minerals
MYPK3	Iochpe Maxion S.A.	2.9%	R$10.0M	AddedR$936.9K	▲ 32.1%	Producer Manufacturing
ABCB4	Banco ABC Brasil SA Conv	2.8%	R$10.0M	AddedR$246.4K	▲ 17.5%	Finance
BBAS3	Banco do Brasil S.A.	2.8%	R$9.7M	AddedR$420.9K	▲ 5.2%	Finance
CPFE3	CPFL Energia S.A.	2.6%	R$9.1M	AddedR$312.1K	▲ 2.7%	Utilities
CSMG3	Companhia de Saneamento de Minas Gerais	2.5%	R$8.7M	Held	▲ 10.1%	Utilities
VBBR3	Vibra Energia SA	2.2%	R$7.8M	Held	▲ 16.0%	Retail Trade
RADL3	Raia Drogasil S.A.	2.1%	R$7.4M	AddedR$534.1K	▼ 8.2%	Retail Trade
ALOS3	Allos S.A.	2.1%	R$7.3M	AddedR$254.9K	▲ 17.7%	Finance
PGMN3	Empreendimentos Pague Menos SA	1.9%	R$6.5M	AddedR$225.4K	▼ 8.2%	Retail Trade
ECOR3	EcoRodovias Infraestrutura e Logistica S.A.	1.9%	R$6.5M	AddedR$1.1M	▲ 63.1%	Transportation
LAVV3	LAVVI Empreendimentos Imobiliarios SA	1.8%	R$6.5M	AddedR$1.3M	▲ 9.5%	Finance
EZTC3	EZ TEC Empreendimentos e Participacoes SA	1.8%	R$6.4M	AddedR$721.4K	▲ 35.9%	Finance
VALE3	Vale S.A.	1.8%	R$6.3M	AddedR$602.1K	▼ 20.7%	Non-Energy Minerals
VIVA3	Vivara Participacoes SA	1.8%	R$6.2M	AddedR$1.0M	▲ 6.6%	Consumer Durables
MILS3	Mills Locacao Servicos e Logistica S.A.	1.7%	R$6.1M	AddedR$323.6K	▲ 17.5%	Finance
ENEV3	Eneva S.A.	1.7%	R$6.0M	Trimmed−R$1.1M	▲ 30.4%	Utilities
ALLD3	Allied Tecnologia SA	1.7%	R$6.0M	Held	▲ 2.6%	Technology Services
AXIA3	AXIA Energia SA	1.6%	R$5.7M	Held	▲ 1.2%	Utilities
VTRU3	Vitru Educacao SA	1.5%	R$5.3M	AddedR$198.4K	▲ 51.5%	Commercial Services