Hedge Alternative
HEDGE ALTERNATIVE INVESTMENTS LTDA
Portfolio as of December 2025compared with November 2025
In stocks
R$15.9M
Stocks
6
Top 10: 100%
Funds
1
YTD
▲ 9.1%
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$203.0K
- Sells
- R$0
- New positions
- 0
- Exited
- 0
Sectors
- Finance83.1%
- Health Services9.3%
- Utilities6.1%
- Commercial Services1.5%
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 |
|---|---|---|---|---|---|---|
 AGRO3 | BrasilAgro Cia Brasileira de Propriedades Agricolas | 31.4% | R$5.0M | Held | ▼ 6.5% | Finance |
 ITUB4 | Itau Unibanco Holding SA | 28.0% | R$4.4M | AddedR$129.5K | ▲ 24.4% | Finance |
 ITSA4 | Itausa SA | 23.7% | R$3.8M | AddedR$73.6K | ▲ 35.3% | Finance |
 HAPV3 | Hapvida Participacoes e Investimentos SA | 9.3% | R$1.5M | Held | ▼ 35.2% | Health Services |
 CSAN3 | Cosan S.A. | 6.1% | R$964.0K | Held | ▼ 0.9% | Utilities |
 LPSB3 | LPS Brasil-Consultoria de Imoveis SA | 1.5% | R$243.6K | Held | ▼ 8.6% | Commercial Services |
Funds
Quota return, after fees
| Fund | Class | AUM | YTD | 12 months | Latest portfolio |
|---|---|---|---|---|---|
| HEDGE ALTERNATIVE INVESTMENTS MASTER | Multimercados Livre | R$601.1M | ▲ 9.1% | ▲ 17.5% | Jun/26 |
Past performance is no guarantee of future results.