IRB

IRB ASSET MANAGEMENT S.A.

Portfolio as of March 2026compared with February 2026

In stocks

R$91.8M

Stocks

Top 10: 68%

Funds

YTD

▲ 30.4%

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$28.3M
Sells: −R$8.6M
New positions: 8
Exited: 0

Sectors

Finance40.5%
Utilities33.1%
Non-Energy Minerals10.1%
Energy Minerals6.5%
Communications3.6%
Transportation3.4%

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	10.1%	R$9.3M	Trimmed−R$527.0K	▲ 1.2%	Utilities
VALE3	Vale S.A.	10.1%	R$9.3M	AddedR$3.5M	▼ 20.7%	Non-Energy Minerals
ITSA4	Itausa SA	9.6%	R$8.8M	Held	▲ 13.0%	Finance
BBDC3	Banco Bradesco SA	8.6%	R$7.9M	AddedR$1.9M	▲ 9.1%	Finance
ISAE4	Isa Energia Brasil SA	7.4%	R$6.8M	New	▲ 0.0%	Utilities
B3SA3	B3 SA - Brasil, Bolsa, Balcao	6.0%	R$5.5M	AddedR$1.8M	▲ 28.9%	Finance
MDNE3	Moura Dubeux Engenharia SA	5.0%	R$4.6M	AddedR$1.9M	▼ 5.0%	Finance
MULT3	Multiplan Empreendimentos Imobiliarios SA	4.1%	R$3.7M	AddedR$1.4M	▲ 19.3%	Finance
CPLE3	Companhia Paranaense de Energia	3.7%	R$3.4M	Trimmed−R$1.3M	▲ 14.4%	Utilities
PRIO3	Prio SA	3.6%	R$3.3M	Trimmed−R$4.2M	▲ 7.6%	Energy Minerals
CSMG3	Companhia de Saneamento de Minas Gerais	3.6%	R$3.3M	AddedR$242.3K	▲ 10.1%	Utilities
DESK3	Desktop SA	3.6%	R$3.3M	AddedR$907.0K	▲ 6.8%	Communications
RENT3	Localiza Rent A Car SA	3.2%	R$3.0M	AddedR$422.8K	▲ 12.5%	Finance
PETR4	Petroleo Brasileiro SA	2.9%	R$2.7M	New	▲ 19.6%	Energy Minerals
EQTL3	Equatorial S.A.	2.9%	R$2.7M	Trimmed−R$815.4K	▲ 21.6%	Utilities
ENEV3	Eneva S.A.	2.7%	R$2.5M	Trimmed−R$868.7K	▲ 30.4%	Utilities
SBSP3	Companhia de Saneamento Basico do Estado de Sao Paulo SABESP	2.6%	R$2.4M	Trimmed−R$360.2K	▲ 2.8%	Utilities
MOTV3	Motiva Infraestrutura de Mobilidade SA	2.3%	R$2.1M	AddedR$1.1M	▲ 29.0%	Transportation
GGPS3	GPS Participacoes e Empreendimentos SA	2.2%	R$2.0M	New	▼ 2.2%	Commercial Services
DIRR3	Direcional Engenharia S.A.	2.2%	R$2.0M	New	▼ 14.1%	Finance
ALOS3	Allos S.A.	1.8%	R$1.7M	Trimmed−R$482.4K	▲ 17.7%	Finance
ECOR3	EcoRodovias Infraestrutura e Logistica S.A.	1.1%	R$1.0M	New	▲ 63.1%	Transportation
BEWY39	iShares MSCI South Korea Capped ETF	0.2%	R$214.9K	New	▲ 507.8%	BDR
BURA39	Global X Uranium ETF	0.2%	R$210.0K	New	–	BDR
BCPX39	Global X Copper Miners ETF	0.2%	R$208.7K	New	▲ 147.3%	BDR