Paragon Capital
Paragon Capital Ltda.
Portfolio as of October 2025compared with September 2025
In stocks
R$88.5M
Stocks
71
Top 10: 57%
Funds
1
YTD
▲ 10.6%
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$16.2M
- Sells
- −R$35.2M
- New positions
- 2
- Exited
- 4
Sectors
- Finance34.8%
- Utilities13.6%
- Energy Minerals8.7%
- BDRs6.9%
- Retail Trade6.5%
- Non-Energy Minerals5.6%
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 |
|---|---|---|---|---|---|---|
 ITSA4 | Itausa SA | 13.4% | R$11.8M | AddedR$2.2M | ▲ 35.6% | Finance |
 BBDC3 | Banco Bradesco SA | 8.5% | R$7.5M | AddedR$3.5M | ▲ 17.8% | Finance |
 PETR4 | Petroleo Brasileiro SA | 5.1% | R$4.5M | Trimmed−R$1.2M | ▲ 95.7% | Energy Minerals |
 EQTL3 | Equatorial S.A. | 5.0% | R$4.5M | AddedR$1.3M | ▲ 35.3% | Utilities |
 VALE3 | Vale S.A. | 4.7% | R$4.2M | Trimmed−R$5.4M | ▲ 0.3% | Non-Energy Minerals |
 SBSP3 | Companhia de Saneamento Basico do Estado de Sao Paulo SABESP | 4.5% | R$4.0M | Held | ▲ 27.3% | Utilities |
 VBBR3 | Vibra Energia SA | 4.3% | R$3.8M | AddedR$673.5K | ▲ 65.1% | Retail Trade |
 SMFT3 | Smartfit Escola de Ginastica e Danca SA | 4.1% | R$3.6M | AddedR$1.8M | ▲ 1.9% | Consumer Services |
 B3SA3 | B3 SA - Brasil, Bolsa, Balcao | 4.1% | R$3.6M | AddedR$1.3M | ▲ 87.3% | Finance |
 INBR32 | Inter & Co., Inc. | 3.8% | R$3.3M | AddedR$2.3M | ▼ 33.3% | BDR |
 MULT3 | Multiplan Empreendimentos Imobiliarios SA | 3.4% | R$3.0M | Trimmed−R$165.7K | ▲ 38.1% | Finance |
 ELET6 | – | 3.4% | R$3.0M | AddedR$1.1M | – | Other |
 ROXO34 | Nu Holdings Ltd. | 3.1% | R$2.7M | AddedR$295.7K | ▼ 12.7% | BDR |
 GGPS3 | GPS Participacoes e Empreendimentos SA | 3.1% | R$2.7M | AddedR$807.4K | ▲ 3.1% | Commercial Services |
 VULC3 | Vulcabras SA | 2.4% | R$2.2M | Trimmed−R$1.4M | ▼ 28.8% | Consumer Non-Durables |
 RDOR3 | Rede D'Or Sao Luiz SA | 2.1% | R$1.9M | Trimmed−R$1.4M | ▲ 1.7% | Health Services |
 PRIO3 | Prio SA | 2.1% | R$1.8M | Trimmed−R$558.1K | ▲ 97.8% | Energy Minerals |
 WEGE3 | WEG SA | 1.8% | R$1.6M | Trimmed−R$1.6M | ▲ 15.9% | Producer Manufacturing |
 DIRR3 | Direcional Engenharia S.A. | 1.7% | R$1.5M | Trimmed−R$141.8K | ▼ 32.7% | Finance |
 CURY3 | Cury Construtora e Incorporadora SA | 1.6% | R$1.4M | Trimmed−R$90.2K | ▼ 6.3% | Finance |
 ORVR3 | Orizon Valorizacao de Residuos SA | 1.5% | R$1.3M | AddedR$138.9K | ▲ 48.2% | Utilities |
 POMO4 | Marcopolo SA | 1.4% | R$1.3M | Trimmed−R$99.3K | ▼ 31.0% | Producer Manufacturing |
 PETR3 | Petroleo Brasileiro SA | 1.4% | R$1.3M | Trimmed−R$1.6M | ▲ 105.8% | Energy Minerals |
 CPLE3 | Companhia Paranaense de Energia | 1.3% | R$1.2M | AddedR$352.2K | ▲ 34.6% | Utilities |
 EMBR3 | – | 1.1% | R$958.4K | Trimmed−R$1.2M | – | Other |
 BBAS3 | Banco do Brasil S.A. | 1.1% | R$935.0K | Trimmed−R$1.2M | ▲ 10.5% | Finance |
 HAPV3 | Hapvida Participacoes e Investimentos SA | 1.0% | R$856.1K | Held | ▼ 69.5% | Health Services |
 PNVL3 | Dimed S.A. Distribuidora de Medicamentos | 0.9% | R$755.2K | Held | ▲ 70.8% | Retail Trade |
 RENT3 | Localiza Rent A Car SA | 0.7% | R$578.4K | Trimmed−R$740.1K | ▲ 39.2% | Finance |
 ENEV3 | Eneva S.A. | 0.6% | R$526.0K | Trimmed−R$671.2K | ▲ 74.8% | Utilities |
 SUZB3 | Suzano S.A. | 0.5% | R$473.8K | Trimmed−R$2.0M | ▼ 13.3% | Process Industries |
 RADL3 | Raia Drogasil S.A. | 0.4% | R$386.2K | Trimmed−R$494.1K | ▲ 8.1% | Retail Trade |
 VIVT3 | Telefonica Brasil S.A. | 0.4% | R$371.8K | Trimmed−R$3.4M | ▲ 0.5% | Communications |
 GGBR4 | Gerdau S.A. | 0.4% | R$362.7K | Trimmed−R$465.5K | ▲ 38.6% | Non-Energy Minerals |
 TOTS3 | TOTVS S.A. | 0.4% | R$355.4K | Trimmed−R$453.4K | ▼ 5.2% | Technology Services |
 CPLE6 | – | 0.4% | R$349.7K | Trimmed−R$446.6K | – | Other |
 UGPA3 | Ultrapar Participacoes S.A. | 0.4% | R$344.3K | Trimmed−R$440.3K | ▲ 85.8% | Retail Trade |
 CMIG4 | Companhia Energetica de Minas Gerais SA | 0.4% | R$324.2K | Trimmed−R$416.5K | ▲ 4.3% | Utilities |
 TIMS3 | TIM S.A. | 0.3% | R$293.6K | New | ▼ 21.6% | Communications |
 RAIL3 | Rumo SA | 0.3% | R$290.8K | Trimmed−R$371.9K | ▲ 21.2% | Transportation |
 LREN3 | Lojas Renner S.A. | 0.3% | R$223.2K | New | ▲ 0.6% | Retail Trade |
 MBRF3 | MBRF Global Foods Company S.A. | 0.2% | R$189.9K | Trimmed−R$244.5K | ▲ 3.7% | Consumer Non-Durables |
 ASAI3 | Sendas Distribuidora SA | 0.2% | R$173.9K | Trimmed−R$1.3M | ▲ 62.6% | Retail Trade |
 CMIN3 | CSN Mineracao SA | 0.2% | R$150.3K | Trimmed−R$191.6K | ▼ 17.6% | Non-Energy Minerals |
 ISAE4 | Isa Energia Brasil SA | 0.2% | R$149.3K | Trimmed−R$190.9K | ▲ 15.9% | Utilities |
 CXSE3 | Caixa Seguridade Participacoes SA | 0.2% | R$135.1K | Trimmed−R$172.8K | ▲ 42.2% | Finance |
 PSSA3 | Porto Seguro S.A. | 0.1% | R$130.9K | Trimmed−R$166.9K | ▲ 9.5% | Finance |
 HYPE3 | Hypera S.A. | 0.1% | R$114.0K | Trimmed−R$144.5K | ▲ 5.5% | Health Technology |
 NATU3 | Natura Cosmeticos SA | 0.1% | R$113.4K | Trimmed−R$145.5K | ▼ 15.1% | Consumer Non-Durables |
 CSAN3 | Cosan S.A. | 0.1% | R$105.8K | Trimmed−R$134.9K | ▼ 14.3% | Utilities |
 GOAU4 | Metalurgica Gerdau SA | 0.1% | R$103.6K | Trimmed−R$132.9K | ▲ 43.4% | Non-Energy Minerals |
 CSNA3 | Companhia Siderurgica Nacional | 0.1% | R$102.9K | Trimmed−R$132.6K | ▼ 36.3% | Non-Energy Minerals |
 BRAV3 | Brava Energia SA | 0.1% | R$102.5K | Trimmed−R$131.9K | ▲ 42.1% | Energy Minerals |
 COGN3 | Cogna Educacao S.A. | 0.1% | R$101.4K | Trimmed−R$129.9K | ▼ 4.4% | Commercial Services |
 FLRY3 | Fleury SA | 0.1% | R$97.7K | Trimmed−R$125.5K | ▲ 93.8% | Health Services |
 BRAP4 | Bradespar SA | 0.1% | R$69.7K | Trimmed−R$89.9K | ▲ 8.1% | Finance |
 IRBR3 | IRB Brasil Resseguros SA | 0.1% | R$60.5K | Trimmed−R$78.2K | ▲ 41.5% | Finance |
 AZZA3 | Azzas 2154 SA | 0.1% | R$58.3K | Trimmed−R$74.2K | ▼ 5.4% | Consumer Non-Durables |
 VIVA3 | Vivara Participacoes SA | 0.1% | R$57.5K | Trimmed−R$74.6K | ▼ 11.4% | Consumer Durables |
 YDUQ3 | YDUQS Participacoes SA | 0.1% | R$56.0K | Trimmed−R$70.6K | ▲ 1.9% | Commercial Services |
Exited this month
Funds
Quota return, after fees
| Fund | Class | AUM | YTD | 12 months | Latest portfolio |
|---|---|---|---|---|---|
| PARAGON MACRO MASTER | Multimercados Livre | R$182.3M | ▲ 10.6% | ▲ 12.8% | Jun/26 |
Past performance is no guarantee of future results.