Kapitalo
KAPITALO INVESTIMENTOS LTDA.
Portfolio as of June 2026compared with May 2026
In stocks
R$7.5B
Stocks
146
Top 10: 60%
Funds
15
YTD
▲ 7.8%
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$761.3M
- Sells
- −R$2.5B
- New positions
- 5
- Exited
- 5
Sectors
- BDRs20.5%
- Finance20.2%
- Non-Energy Minerals12.3%
- Utilities9.1%
- Retail Trade8.7%
- Energy Minerals7.6%
Portfolio
All of the manager's funds combined · since then: today's price vs. Jun/26
| Stock | Company | % of stock portfolio | Value | Month | Since then | Sector |
|---|---|---|---|---|---|---|
 AURA33 | Aura Minerals Inc | 17.9% | R$1.3B | Held | ▲ 32.7% | BDR |
 BBDC4 | Banco Bradesco SA | 7.3% | R$547.9M | AddedR$368.7M | ▲ 14.3% | Finance |
 ITUB4 | Itau Unibanco Holding SA | 6.3% | R$471.6M | Trimmed−R$191.0M | ▲ 15.7% | Finance |
 EMBJ3 | Embraer S.A. | 5.7% | R$425.6M | Trimmed−R$9.2M | ▲ 11.0% | Electronic Technology |
 LREN3 | Lojas Renner S.A. | 4.9% | R$369.2M | AddedR$64.3M | ▲ 1.2% | Retail Trade |
 VALE3 | Vale S.A. | 4.8% | R$356.3M | AddedR$17.6M | ▼ 16.0% | Non-Energy Minerals |
 BRAV3 | Brava Energia SA | 4.2% | R$316.7M | Held | ▲ 8.7% | Energy Minerals |
 MBRF3 | MBRF Global Foods Company S.A. | 3.3% | R$247.2M | AddedR$7.2M | ▲ 2.8% | Consumer Non-Durables |
 VBBR3 | Vibra Energia SA | 3.0% | R$227.4M | Held | ▲ 22.7% | Retail Trade |
 USIM5 | Usinas Siderurgicas de Minas Gerais SA-Usiminas | 3.0% | R$221.9M | AddedR$30.7M | ▼ 19.8% | Non-Energy Minerals |
 AXIA7 | AXIA Energia SA | 2.9% | R$214.9M | Trimmed−R$5.3M | ▲ 12.2% | Utilities |
 PETR4 | Petroleo Brasileiro SA | 2.8% | R$210.7M | Trimmed−R$2.1B | ▲ 54.0% | Energy Minerals |
 SUZB3 | Suzano S.A. | 2.6% | R$196.3M | Trimmed−R$5.0M | ▲ 6.7% | Process Industries |
 NATU3 | Natura Cosmeticos SA | 2.2% | R$166.1M | AddedR$30.5M | ▼ 12.4% | Consumer Non-Durables |
 PASS3 | Compass Gas e Energia SA | 2.2% | R$162.7M | Held | ▲ 15.9% | Utilities |
 XPBR31 | XP Inc. | 2.1% | R$159.3M | Held | ▲ 89.4% | BDR |
 CMIG4 | Companhia Energetica de Minas Gerais SA | 2.1% | R$154.9M | AddedR$21.1M | ▲ 8.8% | Utilities |
 PSSA3 | Porto Seguro S.A. | 2.0% | R$147.8M | Held | ▼ 0.6% | Finance |
 GOAU4 | Metalurgica Gerdau SA | 1.6% | R$122.9M | Held | ▲ 29.5% | Non-Energy Minerals |
 ECOR3 | EcoRodovias Infraestrutura e Logistica S.A. | 1.6% | R$121.8M | Held | ▲ 84.6% | Transportation |
 CBAV3 | Companhia Brasileira de Aluminio | 1.6% | R$119.7M | AddedR$6.3M | ▲ 4.6% | Non-Energy Minerals |
 RENT3 | Localiza Rent A Car SA | 1.3% | R$100.6M | AddedR$24.4M | ▲ 27.3% | Finance |
 B3SA3 | B3 SA - Brasil, Bolsa, Balcao | 1.2% | R$93.0M | AddedR$31.5M | ▲ 63.2% | Finance |
 FLRY3 | Fleury SA | 1.1% | R$81.7M | Held | ▲ 83.1% | Health Services |
 HYPE3 | Hypera S.A. | 1.1% | R$80.5M | Held | ▲ 30.9% | Health Technology |
 TIMS3 | TIM S.A. | 1.0% | R$74.0M | Held | ▼ 12.9% | Communications |
 BBDC3 | Banco Bradesco SA | 0.8% | R$60.0M | AddedR$57.0M | ▲ 15.6% | Finance |
 HAPV3 | Hapvida Participacoes e Investimentos SA | 0.7% | R$53.3M | Held | ▼ 6.5% | Health Services |
 CYRE4 | Cyrela Brazil Realty SA Empreendimentos e Participacoes | 0.7% | R$50.0M | AddedR$9.7M | ▲ 52.2% | Finance |
 RADL3 | Raia Drogasil S.A. | 0.6% | R$42.4M | AddedR$26.5M | ▲ 28.6% | Retail Trade |
 PETR3 | Petroleo Brasileiro SA | 0.5% | R$37.9M | Held | ▲ 55.2% | Energy Minerals |
 AURE3 | Auren Energia SA | 0.5% | R$36.7M | Held | ▲ 31.0% | Utilities |
 LWSA3 | LWSA S.A. | 0.5% | R$34.0M | Held | ▲ 40.3% | Technology Services |
 RDOR3 | Rede D'Or Sao Luiz SA | 0.4% | R$32.2M | Trimmed−R$89.9M | ▲ 27.0% | Health Services |
 AXIA3 | AXIA Energia SA | 0.4% | R$32.0M | Trimmed−R$5.2M | ▲ 9.0% | Utilities |
 CSMG3 | Companhia de Saneamento de Minas Gerais | 0.4% | R$30.8M | AddedR$30.5M | ▲ 6.0% | Utilities |
 AZUL3 | Azul S.A. | 0.4% | R$27.2M | Held | ▼ 29.2% | Transportation |
 CSNA3 | Companhia Siderurgica Nacional | 0.3% | R$25.9M | Held | ▲ 30.1% | Non-Energy Minerals |
 TGMA3 | Tegma Gestao Logistica S.A. | 0.3% | R$24.2M | Held | ▲ 69.2% | Transportation |
 ONCO3 | Oncoclinicas do Brasil Servicos Medicos SA | 0.3% | R$22.9M | Held | ▼ 14.6% | Health Services |
 USIM3 | Usinas Siderurgicas de Minas Gerais SA-Usiminas | 0.3% | R$19.2M | Held | ▼ 13.5% | Non-Energy Minerals |
 JHSF3 | JHSF Participacoes S.A. | 0.2% | R$18.4M | Trimmed−R$1.5M | ▲ 25.2% | Finance |
 TSLA34 | Tesla, Inc. | 0.2% | R$17.6M | Trimmed−R$14.2M | ▼ 13.3% | BDR |
 GGBR4 | Gerdau S.A. | 0.2% | R$17.1M | AddedR$11.3M | ▲ 26.3% | Non-Energy Minerals |
 GOAU3 | Metalurgica Gerdau S.A. | 0.2% | R$16.6M | Held | ▲ 25.0% | Non-Energy Minerals |
 CPFE3 | CPFL Energia S.A. | 0.2% | R$16.0M | Held | ▲ 11.8% | Utilities |
 CPLE3 | Companhia Paranaense de Energia | 0.2% | R$14.6M | Trimmed−R$458.9K | ▲ 17.5% | Utilities |
 LIGT3 | Light S.A. | 0.2% | R$14.1M | AddedR$448.1K | ▲ 14.5% | Utilities |
 CMIN3 | CSN Mineracao SA | 0.1% | R$9.5M | Held | ▲ 19.6% | Non-Energy Minerals |
 KLBN11 | Klabin SA Ctf de Deposito de Acoes Cons of 1 Sh + 4 | 0.1% | R$8.5M | Held | ▲ 10.0% | Non-Energy Minerals |
 AMZO34 | Amazon.com, Inc. | 0.1% | R$8.1M | Held | ▲ 6.4% | BDR |
 ABEV3 | Ambev SA | 0.1% | R$7.2M | Trimmed−R$10.5M | ▲ 3.4% | Consumer Non-Durables |
 PNVL3 | Dimed S.A. Distribuidora de Medicamentos | 0.1% | R$7.2M | Held | ▲ 46.0% | Retail Trade |
 NVDC34 | NVIDIA Corporation | 0.1% | R$6.9M | Held | ▲ 5.4% | BDR |
 VIVA3 | Vivara Participacoes SA | 0.1% | R$5.7M | AddedR$4.6M | ▲ 20.8% | Consumer Durables |
 ITSA4 | Itausa SA | 0.1% | R$5.5M | Trimmed−R$7.6M | ▲ 18.1% | Finance |
 MRVE3 | MRV Engenharia e Participacoes S.A. | 0.1% | R$5.3M | AddedR$3.3M | ▲ 58.1% | Consumer Durables |
 CXSE3 | Caixa Seguridade Participacoes SA | 0.1% | R$5.1M | Trimmed−R$1.2M | ▲ 8.0% | Finance |
 RENT4 | Localiza Rent A Car SA | 0.1% | R$4.6M | Held | ▲ 28.5% | Finance |
 BRKM5 | Braskem S.A. | 0.1% | R$4.1M | AddedR$3.9M | ▼ 34.6% | Process Industries |
Exited this month
Funds
Quota return, after fees
| Fund | Class | AUM | YTD | 12 months | Latest portfolio |
|---|---|---|---|---|---|
| KAPITALO K10 MASTER | Multimercados Macro | R$6.4B | ▲ 6.7% | ▲ 11.4% | Jun/26 |
| KAPITALO ZETA MERIDIA MASTER | Multimercados Livre | R$4.4B | ▲ 6.5% | ▲ 14.2% | Jun/26 |
| KAPITALO MASTER II | Multimercados Livre | R$3.1B | ▲ 2.1% | ▲ 5.7% | Jun/26 |
| KAPITALO MASTER I | Multimercados Livre | R$1.9B | ▲ 11.4% | ▲ 15.3% | Jun/26 |
| KAPITALO MASTER III | Multimercados Invest. no Exterior | R$1.2B | ▲ 16.1% | ▲ 35.4% | Jun/26 |
| KAPITALO TARKUS MASTER | Ações Livre | R$559.7M | ▲ 30.3% | ▲ 55.0% | Mar/26 |
| KAPITALO SND MASTER | Multimercados Invest. no Exterior | R$491.0M | ▼ 3.5% | ▲ 8.3% | Jun/26 |
| KAPITALO ZETA PREV MASTER | Previdência Multimercado Livre | R$453.6M | ▲ 5.2% | ▲ 12.3% | Aug/26 |
| KAPITALO MERCANTE MASTER | Multimercados Livre | R$302.1M | – | – | Jun/26 |
| KAPITALO KAPPA PREVIDÊNCIA MASTER | Previdência Multimercado Livre | R$263.5M | ▲ 8.3% | ▲ 14.4% | Aug/26 |
| KAPITALO MASTER V | Multimercados Livre | R$226.6M | ▲ 15.4% | ▲ 30.8% | Aug/26 |
| KAPITALO STRATA MASTER | Multimercados Livre | R$187.5M | – | – | Jun/26 |
| KAPITALO NW3 | Multimercados Livre | R$180.3M | ▲ 15.2% | ▲ 20.2% | Jun/26 |
| KAPITALO NEXUS GLOBAL MASTER | Multimercados Livre | R$127.4M | ▲ 39.6% | – | Jun/26 |
| KAPITALO OMEGA PREVIDÊNCIA MASTER | Previdência Multimercado Livre | R$82.5M | ▲ 8.8% | ▲ 14.7% | Aug/26 |
Past performance is no guarantee of future results.