Forpus Capital
FORPUS CAPITAL GESTÃO DE RECURSOS LTDA.
Portfolio as of March 2026compared with February 2026
In stocks
R$244.5M
Stocks
47
Top 10: 53%
Funds
1
YTD
▲ 24.8%
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$74.2M
- Sells
- −R$74.5M
- New positions
- 15
- Exited
- 10
Sectors
- Finance20.2%
- Utilities18.6%
- Non-Energy Minerals12.3%
- Process Industries11.7%
- BDRs11.3%
- Consumer Non-Durables6.4%
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 |
|---|---|---|---|---|---|---|
 AXIA3 | AXIA Energia SA | 8.1% | R$19.9M | Held | ▲ 1.2% | Utilities |
 FCXO34 | Freeport-McMoRan, Inc. | 6.5% | R$15.9M | Trimmed−R$2.0M | ▲ 8.7% | BDR |
 SBSP3 | Companhia de Saneamento Basico do Estado de Sao Paulo SABESP | 6.5% | R$15.8M | AddedR$1.6M | ▲ 2.8% | Utilities |
 ALPA4 | Alpargatas SA | 5.7% | R$13.9M | AddedR$5.8M | ▲ 44.7% | Consumer Non-Durables |
 OPCT3 | OceanPact Servicos Maritimos SA | 5.6% | R$13.6M | Trimmed−R$543.6K | ▲ 7.0% | Commercial Services |
 SUZB3 | Suzano S.A. | 5.1% | R$12.5M | Trimmed−R$519.0K | ▼ 18.3% | Process Industries |
 VALE3 | Vale S.A. | 4.7% | R$11.5M | AddedR$824.8K | ▼ 20.7% | Non-Energy Minerals |
 JHSF3 | JHSF Participacoes S.A. | 3.8% | R$9.2M | AddedR$1.0M | ▲ 53.1% | Finance |
 IRBR3 | IRB Brasil Resseguros SA | 3.6% | R$8.7M | New | ▲ 27.9% | Finance |
 TEND3 | Construtora Tenda SA | 3.6% | R$8.7M | New | ▼ 8.3% | Finance |
 BBSE3 | BB Seguridade Participacoes SA | 3.4% | R$8.4M | New | ▲ 21.5% | Finance |
 FESA4 | Cia de Ferro Ligas da Bahia-Ferbasa | 3.1% | R$7.6M | AddedR$328.4K | ▼ 18.9% | Non-Energy Minerals |
 UGPA3 | Ultrapar Participacoes S.A. | 3.1% | R$7.5M | Trimmed−R$861.6K | ▲ 38.5% | Retail Trade |
 GOAU4 | Metalurgica Gerdau SA | 2.7% | R$6.5M | AddedR$2.6M | ▲ 39.7% | Non-Energy Minerals |
 TFCO4 | Track & Field Co SA | 2.5% | R$6.2M | AddedR$163.7K | ▼ 9.9% | Retail Trade |
 MDNE3 | Moura Dubeux Engenharia SA | 2.5% | R$6.1M | Trimmed−R$645.0K | ▼ 5.0% | Finance |
 CSMG3 | Companhia de Saneamento de Minas Gerais | 2.4% | R$5.8M | New | ▲ 10.1% | Utilities |
 RDOR3 | Rede D'Or Sao Luiz SA | 2.2% | R$5.5M | Held | ▲ 13.1% | Health Services |
 SLCE3 | SLC Agricola S.A. | 2.2% | R$5.4M | Trimmed−R$561.3K | ▼ 8.7% | Process Industries |
 SMTO3 | Sao Martinho S.A. | 2.2% | R$5.3M | New | ▲ 0.3% | Process Industries |
 VIVA3 | Vivara Participacoes SA | 1.9% | R$4.7M | New | ▲ 6.6% | Consumer Durables |
 USIM5 | Usinas Siderurgicas de Minas Gerais SA-Usiminas | 1.8% | R$4.4M | AddedR$2.2M | ▲ 0.6% | Non-Energy Minerals |
 CMIG4 | Companhia Energetica de Minas Gerais SA | 1.7% | R$4.0M | Trimmed−R$1.5M | ▼ 6.2% | Utilities |
 RIOT34 | Rio Tinto PLC ADR | 1.5% | R$3.7M | Trimmed−R$2.8M | ▼ 7.3% | BDR |
 NVDC34 | NVIDIA Corporation | 1.2% | R$3.0M | AddedR$1.4M | ▲ 20.3% | BDR |
 PRIO3 | Prio SA | 1.1% | R$2.6M | Trimmed−R$662.1K | ▲ 7.6% | Energy Minerals |
 VITT3 | Vittia S.A. | 1.1% | R$2.6M | New | ▼ 8.8% | Process Industries |
 NFLX34 | Netflix, Inc. | 1.1% | R$2.6M | AddedR$1.7M | ▼ 32.4% | BDR |
 PSSA3 | Porto Seguro S.A. | 1.0% | R$2.5M | Trimmed−R$3.5M | ▲ 4.2% | Finance |
 CYRE3 | Cyrela Brazil Realty SA Empreendimentos e Participacoes | 1.0% | R$2.5M | New | ▲ 26.0% | Finance |
 ROXO34 | Nu Holdings Ltd. | 0.9% | R$2.3M | AddedR$1.3M | ▲ 2.2% | BDR |
 WEGE3 | WEG SA | 0.8% | R$2.0M | Held | ▼ 4.4% | Producer Manufacturing |
 SOJA3 | Boa Safra Sementes SA | 0.8% | R$2.0M | New | ▲ 17.0% | Process Industries |
 SIMH3 | Simpar SA | 0.8% | R$1.8M | New | ▲ 45.2% | Transportation |
 AZZA3 | Azzas 2154 SA | 0.7% | R$1.8M | New | ▲ 5.7% | Consumer Non-Durables |
 SMFT3 | Smartfit Escola de Ginastica e Danca SA | 0.5% | R$1.3M | AddedR$191.6K | ▲ 33.9% | Consumer Services |
 BBDC4 | Banco Bradesco SA | 0.5% | R$1.2M | New | ▲ 7.9% | Finance |
 PETR4 | Petroleo Brasileiro SA | 0.4% | R$973.4K | Trimmed−R$9.2M | ▲ 19.6% | Energy Minerals |
 UNIP6 | Unipar Carbocloro SA | 0.4% | R$935.9K | New | ▼ 0.6% | Process Industries |
 BBAS3 | Banco do Brasil S.A. | 0.4% | R$920.0K | Trimmed−R$2.3M | ▲ 5.2% | Finance |
 AVLL3 | Alphaville SA | 0.3% | R$667.9K | Trimmed−R$30.4K | ▼ 65.6% | Finance |
 RENT3 | Localiza Rent A Car SA | 0.2% | R$469.8K | Held | ▲ 12.5% | Finance |
 LWSA3 | LWSA S.A. | 0.2% | R$456.0K | New | ▲ 46.6% | Technology Services |
 BEEF3 | Minerva S.A. | 0.1% | R$340.0K | New | ▲ 1.9% | Distribution Services |
 LREN3 | Lojas Renner S.A. | 0.1% | R$299.2K | Trimmed−R$2.1M | ▼ 0.2% | Retail Trade |
 FRAS3 | Frasle Mobility S.A. | 0.1% | R$226.7K | Held | ▲ 28.8% | Producer Manufacturing |
 BOAC34 | Bank of America Corp | 0.1% | R$126.5K | Trimmed−R$1.4M | ▲ 0.4% | BDR |
Funds
Quota return, after fees
| Fund | Class | AUM | YTD | 12 months | Latest portfolio |
|---|---|---|---|---|---|
| FORPUS AÇÕES MASTER | Ações Índice Ativo | R$242.4M | ▲ 24.8% | ▲ 28.9% | Mar/26 |
Past performance is no guarantee of future results.