Giant Steps Capital
GIANT STEPS CAPITAL INVESTIMENTOS
Portfolio as of October 2025compared with September 2025
In stocks
R$403.1M
Stocks
173
Top 10: 29%
Funds
1
YTD
▲ 6.1%
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$91.0M
- Sells
- −R$91.1M
- New positions
- 32
- Exited
- 17
Sectors
- Finance22.0%
- Other10.1%
- Non-Energy Minerals8.9%
- Retail Trade8.6%
- Utilities6.7%
- Energy Minerals6.0%
Portfolio
All of the manager's funds combined · since then: today's price vs. Oct/25
| Stock | Company | % of stock portfolio | Value | Month | Since then | Sector |
|---|---|---|---|---|---|---|
 VALE3 | Vale S.A. | 6.0% | R$24.2M | AddedR$9.6M | ▲ 0.3% | Non-Energy Minerals |
 PETR4 | Petroleo Brasileiro SA | 3.2% | R$12.9M | AddedR$4.2M | ▲ 95.7% | Energy Minerals |
 ODPV3 | – | 3.0% | R$11.9M | Trimmed−R$594.9K | – | Other |
 CURY3 | Cury Construtora e Incorporadora SA | 2.5% | R$10.1M | AddedR$2.6M | ▼ 6.3% | Finance |
 MDNE3 | Moura Dubeux Engenharia SA | 2.4% | R$9.8M | AddedR$929.0K | ▲ 10.8% | Finance |
 TIMS3 | TIM S.A. | 2.4% | R$9.5M | Trimmed−R$1.9M | ▼ 21.6% | Communications |
 TGMA3 | Tegma Gestao Logistica S.A. | 2.3% | R$9.4M | Trimmed−R$251.4K | ▲ 38.4% | Transportation |
 BBSE3 | BB Seguridade Participacoes SA | 2.3% | R$9.3M | Trimmed−R$2.5M | ▲ 28.8% | Finance |
 ELET3 | – | 2.2% | R$8.9M | AddedR$2.3M | – | Other |
 PETR3 | Petroleo Brasileiro SA | 2.2% | R$8.9M | AddedR$1.7M | ▲ 105.8% | Energy Minerals |
 MILS3 | Mills Locacao Servicos e Logistica S.A. | 2.1% | R$8.6M | AddedR$3.2M | ▲ 24.5% | Finance |
 MELK3 | Melnick Desenvolvimento Imobiliario SA | 2.1% | R$8.3M | AddedR$2.3M | ▼ 16.0% | Industrial Services |
 BBDC4 | Banco Bradesco SA | 2.1% | R$8.3M | AddedR$348.7K | ▲ 13.9% | Finance |
 SUZB3 | Suzano S.A. | 1.8% | R$7.1M | AddedR$1.5M | ▼ 13.3% | Process Industries |
 BMGB4 | Banco Bmg SA BMG | 1.7% | R$6.9M | Trimmed−R$204.7K | ▲ 78.2% | Finance |
 PGMN3 | Empreendimentos Pague Menos SA | 1.7% | R$6.7M | Trimmed−R$2.6M | ▲ 46.2% | Retail Trade |
 BEEF3 | Minerva S.A. | 1.6% | R$6.5M | AddedR$1.9M | ▼ 39.7% | Distribution Services |
 ITUB4 | Itau Unibanco Holding SA | 1.6% | R$6.3M | Trimmed−R$4.9M | ▲ 27.4% | Finance |
 SBSP3 | Companhia de Saneamento Basico do Estado de Sao Paulo SABESP | 1.5% | R$6.2M | AddedR$1.1M | ▲ 27.3% | Utilities |
 TOTS3 | TOTVS S.A. | 1.5% | R$6.1M | AddedR$1.9M | ▼ 5.2% | Technology Services |
 CPFE3 | CPFL Energia S.A. | 1.4% | R$5.8M | AddedR$1.1M | ▲ 20.4% | Utilities |
 LIGT3 | Light S.A. | 1.3% | R$5.4M | AddedR$1.1M | ▼ 33.6% | Utilities |
 ASAI3 | Sendas Distribuidora SA | 1.3% | R$5.4M | Trimmed−R$2.7M | ▲ 62.6% | Retail Trade |
 MBRF3 | MBRF Global Foods Company S.A. | 1.2% | R$5.0M | Trimmed−R$176.9K | ▲ 3.7% | Consumer Non-Durables |
 POMO3 | Marcopolo SA | 1.2% | R$4.9M | AddedR$1.2M | ▼ 25.6% | Producer Manufacturing |
 RANI3 | Irani Papel e Embalagem SA | 1.2% | R$4.9M | Trimmed−R$2.0M | ▼ 7.2% | Process Industries |
 ENEV3 | Eneva S.A. | 1.2% | R$4.7M | AddedR$737.9K | ▲ 74.8% | Utilities |
 CEAB3 | C&A Modas SA | 1.2% | R$4.7M | Trimmed−R$1.7M | ▼ 12.2% | Retail Trade |
 QUAL3 | Qualicorp Consultoria e Corretora de Seguros S.A. | 1.1% | R$4.4M | AddedR$298.6K | ▼ 18.8% | Health Services |
 ALLD3 | Allied Tecnologia SA | 1.1% | R$4.4M | AddedR$3.8M | ▼ 31.5% | Technology Services |
 SEER3 | Grupo Ser Educacional SA | 1.1% | R$4.4M | Trimmed−R$276.9K | ▲ 75.8% | Consumer Services |
 HBOR3 | Helbor Empreendimentos S.A. | 1.0% | R$4.2M | Trimmed−R$310.6K | ▼ 34.6% | Consumer Durables |
 ALPA4 | Alpargatas SA | 1.0% | R$4.2M | Held | ▲ 69.6% | Consumer Non-Durables |
 GUAR3 | – | 1.0% | R$4.2M | Trimmed−R$183.4K | – | Other |
 HBSA3 | Hidrovias do Brasil SA | 1.0% | R$4.1M | Trimmed−R$911.8K | ▲ 5.1% | Transportation |
 COGN3 | Cogna Educacao S.A. | 1.0% | R$3.8M | Trimmed−R$967.2K | ▼ 4.4% | Commercial Services |
 ABEV3 | Ambev SA | 0.9% | R$3.8M | Trimmed−R$4.3M | ▲ 32.6% | Consumer Non-Durables |
 MDIA3 | M. Dias Branco SA Industria e Comercio de Alimentos | 0.9% | R$3.8M | AddedR$398.8K | ▼ 32.5% | Consumer Non-Durables |
 UNIP6 | Unipar Carbocloro SA | 0.9% | R$3.7M | Trimmed−R$1.7M | ▼ 12.7% | Process Industries |
 FESA4 | Cia de Ferro Ligas da Bahia-Ferbasa | 0.9% | R$3.6M | Trimmed−R$2.1M | ▼ 15.2% | Non-Energy Minerals |
 PETZ3 | – | 0.9% | R$3.6M | AddedR$1.3M | – | Other |
 TEND3 | Construtora Tenda SA | 0.9% | R$3.6M | Trimmed−R$1.9M | ▲ 21.3% | Finance |
 LREN3 | Lojas Renner S.A. | 0.9% | R$3.5M | Trimmed−R$3.2M | ▲ 0.6% | Retail Trade |
 PFRM3 | Profarma Distribuidora de Produtos Farmaceuticos SA | 0.8% | R$3.4M | Trimmed−R$457.0K | ▲ 11.0% | Distribution Services |
 TRIS3 | Trisul S.A. | 0.8% | R$3.3M | Trimmed−R$1.5M | ▲ 16.2% | Consumer Durables |
 POMO4 | Marcopolo SA | 0.8% | R$3.2M | Trimmed−R$1.1M | ▼ 31.0% | Producer Manufacturing |
 RADL3 | Raia Drogasil S.A. | 0.8% | R$3.2M | Trimmed−R$568.0K | ▲ 8.1% | Retail Trade |
 RDOR3 | Rede D'Or Sao Luiz SA | 0.7% | R$3.0M | Held | ▲ 1.7% | Health Services |
 UGPA3 | Ultrapar Participacoes S.A. | 0.7% | R$3.0M | AddedR$1.3M | ▲ 85.8% | Retail Trade |
 LAVV3 | LAVVI Empreendimentos Imobiliarios SA | 0.7% | R$2.9M | Trimmed−R$771.4K | ▲ 4.5% | Finance |
 TFCO4 | Track & Field Co SA | 0.7% | R$2.9M | AddedR$249.9K | ▼ 18.6% | Retail Trade |
 NEOE3 | – | 0.7% | R$2.8M | AddedR$627.4K | – | Other |
 EZTC3 | EZ TEC Empreendimentos e Participacoes SA | 0.7% | R$2.8M | Trimmed−R$1.1M | ▲ 30.3% | Finance |
 BRSR6 | Banco do Estado do Rio Grande do Sul SA | 0.7% | R$2.7M | Trimmed−R$280.3K | ▲ 32.3% | Finance |
 ELET6 | – | 0.7% | R$2.6M | AddedR$463.2K | – | Other |
 EMBR3 | – | 0.6% | R$2.5M | Trimmed−R$1.7M | – | Other |
 B3SA3 | B3 SA - Brasil, Bolsa, Balcao | 0.6% | R$2.4M | Trimmed−R$1.4M | ▲ 87.3% | Finance |
 PSSA3 | Porto Seguro S.A. | 0.6% | R$2.4M | Trimmed−R$3.7M | ▲ 9.5% | Finance |
 PNVL3 | Dimed S.A. Distribuidora de Medicamentos | 0.6% | R$2.4M | Trimmed−R$747.4K | ▲ 70.8% | Retail Trade |
 EUCA4 | Eucatex S.A. Industria E Comercio | 0.6% | R$2.2M | Trimmed−R$255.5K | ▲ 55.3% | Non-Energy Minerals |
Funds
Quota return, after fees
| Fund | Class | AUM | YTD | 12 months | Latest portfolio |
|---|---|---|---|---|---|
| GIANT ZARATHUSTRA MASTER | Multimercados Livre | R$165.6M | ▲ 6.1% | ▲ 3.9% | Jun/26 |
Past performance is no guarantee of future results.