Encore
ENCORE GESTÃO DE RECURSOS LTDA.
Portfolio as of March 2026compared with February 2026
In stocks
R$651.1M
Stocks
66
Top 10: 54%
Funds
4
YTD
▲ 14.0%
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$97.6M
- Sells
- −R$52.7M
- New positions
- 6
- Exited
- 5
Sectors
- Finance22.3%
- Utilities21.6%
- BDRs19.8%
- Energy Minerals8.3%
- Consumer Services7.8%
- Retail Trade6.4%
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 |
|---|---|---|---|---|---|---|
 SMFT3 | Smartfit Escola de Ginastica e Danca SA | 7.7% | R$50.2M | Trimmed−R$1.1M | ▲ 33.9% | Consumer Services |
 PRIO3 | Prio SA | 7.6% | R$49.6M | Trimmed−R$1.7M | ▲ 7.6% | Energy Minerals |
 RENT3 | Localiza Rent A Car SA | 6.3% | R$40.9M | Held | ▲ 12.5% | Finance |
 CPLE3 | Companhia Paranaense de Energia | 5.6% | R$36.7M | Trimmed−R$4.8M | ▲ 14.4% | Utilities |
 AXIA7 | AXIA Energia SA | 4.7% | R$30.6M | Held | ▲ 5.0% | Utilities |
 STOC34 | StoneCo Ltd. | 4.7% | R$30.5M | AddedR$12.8M | ▼ 17.3% | BDR |
 ALOS3 | Allos S.A. | 4.6% | R$30.2M | Trimmed−R$18.6M | ▲ 17.7% | Finance |
 TEND3 | Construtora Tenda SA | 4.6% | R$30.0M | Held | ▼ 8.3% | Finance |
 EQTL3 | Equatorial S.A. | 4.2% | R$27.6M | Trimmed−R$1.6M | ▲ 21.6% | Utilities |
 ECOR3 | EcoRodovias Infraestrutura e Logistica S.A. | 4.2% | R$27.4M | AddedR$10.2M | ▲ 63.1% | Transportation |
 ROXO34 | Nu Holdings Ltd. | 4.1% | R$26.9M | AddedR$9.1M | ▲ 2.2% | BDR |
 SBSP3 | Companhia de Saneamento Basico do Estado de Sao Paulo SABESP | 4.0% | R$25.8M | AddedR$2.2M | ▲ 2.8% | Utilities |
 MELI34 | MercadoLibre, Inc. | 4.0% | R$25.7M | Held | ▲ 5.6% | BDR |
 XPBR31 | XP Inc. | 3.4% | R$22.1M | Trimmed−R$557.5K | ▲ 62.5% | BDR |
 INBR32 | Inter & Co., Inc. | 3.2% | R$21.0M | Trimmed−R$834.3K | ▼ 20.1% | BDR |
 VIVA3 | Vivara Participacoes SA | 3.1% | R$20.3M | Trimmed−R$4.5M | ▲ 6.6% | Consumer Durables |
 ITUB4 | Itau Unibanco Holding SA | 2.9% | R$18.9M | AddedR$12.6M | ▲ 12.2% | Finance |
 CURY3 | Cury Construtora e Incorporadora SA | 2.8% | R$18.2M | Held | ▼ 7.4% | Finance |
 CEAB3 | C&A Modas SA | 2.5% | R$16.5M | New | ▲ 17.9% | Retail Trade |
 SBFG3 | Grupo SBF S.A. | 2.4% | R$15.7M | Trimmed−R$426.5K | ▼ 3.8% | Retail Trade |
 SUZB3 | Suzano S.A. | 1.9% | R$12.3M | Trimmed−R$664.3K | ▼ 18.3% | Process Industries |
 ENEV3 | Eneva S.A. | 1.9% | R$12.3M | New | ▲ 30.4% | Utilities |
 AZZA3 | Azzas 2154 SA | 1.4% | R$9.0M | Trimmed−R$12.7M | ▲ 5.7% | Consumer Non-Durables |
 PNVL3 | Dimed S.A. Distribuidora de Medicamentos | 1.2% | R$8.1M | Held | ▲ 11.4% | Retail Trade |
 ODPV3 | – | 1.2% | R$8.1M | AddedR$7.2M | – | Other |
 CSMG3 | Companhia de Saneamento de Minas Gerais | 0.7% | R$4.3M | AddedR$2.4M | ▲ 10.1% | Utilities |
 PETR3 | Petroleo Brasileiro SA | 0.5% | R$3.6M | New | ▲ 20.3% | Energy Minerals |
 VALE3 | Vale S.A. | 0.4% | R$2.8M | AddedR$2.3M | ▼ 20.7% | Non-Energy Minerals |
 ORVR3 | Orizon Valorizacao de Residuos SA | 0.4% | R$2.8M | AddedR$1.5M | ▲ 15.2% | Utilities |
 RENT4 | Localiza Rent A Car SA | 0.3% | R$1.8M | Trimmed−R$77.0K | ▲ 13.4% | Finance |
 JBSS32 | JBS N.V. | 0.3% | R$1.7M | New | ▼ 30.9% | BDR |
 WEGE3 | WEG SA | 0.3% | R$1.7M | AddedR$1.2M | ▼ 4.4% | Producer Manufacturing |
 VIVT3 | Telefonica Brasil S.A. | 0.2% | R$1.2M | Held | ▼ 21.9% | Communications |
 VULC3 | Vulcabras SA | 0.2% | R$1.0M | AddedR$233.0K | ▼ 6.2% | Consumer Non-Durables |
 LAVV3 | LAVVI Empreendimentos Imobiliarios SA | 0.2% | R$1.0M | Held | ▲ 9.5% | Finance |
 PETR4 | Petroleo Brasileiro SA | 0.2% | R$992.9K | Trimmed−R$803.1K | ▲ 19.6% | Energy Minerals |
 MDNE3 | Moura Dubeux Engenharia SA | 0.2% | R$986.9K | Held | ▼ 5.0% | Finance |
 TIMS3 | TIM S.A. | 0.1% | R$884.2K | Held | ▼ 30.7% | Communications |
 RIAA3 | RIACHUELO | 0.1% | R$803.5K | Held | ▲ 20.4% | Distribution Services |
 VBBR3 | Vibra Energia SA | 0.1% | R$765.2K | Trimmed−R$676.7K | ▲ 16.0% | Retail Trade |
 PGMN3 | Empreendimentos Pague Menos SA | 0.1% | R$751.4K | AddedR$392.5K | ▼ 8.2% | Retail Trade |
 LEVE3 | Mahle-Metal Leve S.A. | 0.1% | R$699.8K | Held | ▲ 11.0% | Producer Manufacturing |
 CXSE3 | Caixa Seguridade Participacoes SA | 0.1% | R$675.3K | Trimmed−R$631.2K | ▲ 16.0% | Finance |
 GRND3 | Grendene S.A. | 0.1% | R$631.4K | Held | ▲ 1.9% | Consumer Non-Durables |
 ALPA4 | Alpargatas SA | 0.1% | R$590.2K | Trimmed−R$416.6K | ▲ 44.7% | Consumer Non-Durables |
 AURA33 | Aura Minerals Inc | 0.1% | R$587.5K | AddedR$531.5K | ▲ 1.4% | BDR |
 PRNR3 | Priner Servicos Industriais SA | 0.1% | R$549.9K | Held | ▲ 5.7% | Industrial Services |
 MRVE3 | MRV Engenharia e Participacoes S.A. | 0.1% | R$544.6K | New | ▲ 6.1% | Consumer Durables |
 ABCB4 | Banco ABC Brasil SA Conv | 0.1% | R$543.6K | Held | ▲ 17.5% | Finance |
 MILS3 | Mills Locacao Servicos e Logistica S.A. | 0.1% | R$539.4K | Held | ▲ 17.5% | Finance |
 VTRU3 | Vitru Educacao SA | 0.1% | R$536.3K | Held | ▲ 51.5% | Commercial Services |
 MOVI3 | Movida Participacoes SA | 0.1% | R$530.6K | AddedR$62.0K | ▲ 54.6% | Finance |
 DIRR3 | Direcional Engenharia S.A. | 0.1% | R$506.7K | Trimmed−R$224.8K | ▼ 14.1% | Finance |
 ISAE4 | Isa Energia Brasil SA | 0.1% | R$477.1K | Held | ▲ 0.0% | Utilities |
 SEER3 | Grupo Ser Educacional SA | 0.1% | R$429.3K | Held | ▲ 35.1% | Consumer Services |
 JSLG3 | JSL S.A. | 0.1% | R$356.0K | Held | ▲ 55.5% | Transportation |
 SIMH3 | Simpar SA | 0.0% | R$262.2K | Held | ▲ 45.2% | Transportation |
 ITSA4 | Itausa SA | 0.0% | R$213.9K | Held | ▲ 13.0% | Finance |
 RADL3 | Raia Drogasil S.A. | 0.0% | R$164.7K | Trimmed−R$465.9K | ▼ 8.2% | Retail Trade |
 MOTV3 | Motiva Infraestrutura de Mobilidade SA | 0.0% | R$102.8K | New | ▲ 29.0% | Transportation |
Exited this month
Funds
Quota return, after fees
| Fund | Class | AUM | YTD | 12 months | Latest portfolio |
|---|---|---|---|---|---|
| ENCORE LONG BIAS | Multimercados Livre | R$206.2M | ▲ 11.5% | ▲ 11.6% | Jun/26 |
| ENCORE LONG BIAS MASTER | Ações Livre | R$120.8M | ▲ 12.0% | ▲ 12.0% | Mar/26 |
| ENCORE LONG BIAS PREV | Previdência Multimercado Livre | R$110.6M | ▲ 16.3% | ▲ 16.7% | Jun/26 |
| ENCORE AÇÕES | Ações Livre | R$82.6M | ▲ 20.2% | ▲ 21.5% | Mar/26 |
Past performance is no guarantee of future results.