Santa FE

SANTA FE INVESTIMENTOS LTDA

Portfolio as of September 2026compared with August 2026

In stocks

R$80.4M

Stocks

Top 10: 54%

Funds

YTD

–

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$34.6M
Sells: −R$21.1M
New positions: 17
Exited: 9

Sectors

Finance46.2%
Energy Minerals14.6%
Utilities13.9%
BDRs9.1%
Industrial Services3.5%
Non-Energy Minerals3.0%

Portfolio

All of the manager's funds combined · since then: today's price vs. Sep/26

Stock	Company	% of stock portfolio	Value	Month	Since then	Sector
ITUB4	Itau Unibanco Holding SA	8.3%	R$6.6M	AddedR$442.8K	▲ 10.2%	Finance
PETR4	Petroleo Brasileiro SA	7.3%	R$5.9M	Trimmed−R$3.2M	▲ 18.5%	Energy Minerals
AXIA3	AXIA Energia SA	5.7%	R$4.6M	AddedR$2.7M	▲ 7.0%	Utilities
PETR3	Petroleo Brasileiro SA	5.0%	R$4.0M	New	▲ 20.4%	Energy Minerals
RENT3	Localiza Rent A Car SA	4.9%	R$3.9M	AddedR$1.9M	▲ 30.5%	Finance
BBAS3	Banco do Brasil S.A.	4.8%	R$3.9M	AddedR$922.8K	▲ 4.9%	Finance
MDNE3	Moura Dubeux Engenharia SA	4.6%	R$3.7M	Held	▲ 18.9%	Finance
SBSP3	Companhia de Saneamento Basico do Estado de Sao Paulo SABESP	4.6%	R$3.7M	Trimmed−R$137.2K	▲ 18.6%	Utilities
BBDC4	Banco Bradesco SA	4.6%	R$3.7M	New	▲ 11.7%	Finance
CYRE3	Cyrela Brazil Realty SA Empreendimentos e Participacoes	4.6%	R$3.7M	New	▲ 26.6%	Finance
B3SA3	B3 SA - Brasil, Bolsa, Balcao	4.6%	R$3.7M	New	▲ 29.3%	Finance
PRNR3	Priner Servicos Industriais SA	3.5%	R$2.8M	Held	▲ 9.7%	Industrial Services
JHSF3	JHSF Participacoes S.A.	3.4%	R$2.8M	AddedR$821.1K	▲ 21.0%	Finance
VALE3	Vale S.A.	3.0%	R$2.4M	AddedR$699.1K	▼ 6.4%	Non-Energy Minerals
ITSA4	Itausa SA	2.5%	R$2.0M	Held	▲ 8.2%	Finance
EQTL3	Equatorial S.A.	2.4%	R$1.9M	New	▲ 22.0%	Utilities
XPBR31	XP Inc.	2.3%	R$1.9M	AddedR$853.3K	▲ 46.2%	BDR
PRIO3	Prio SA	2.2%	R$1.8M	Trimmed−R$60.9K	▲ 17.0%	Energy Minerals
ENEV3	Eneva S.A.	1.2%	R$975.5K	Trimmed−R$905.8K	▲ 14.8%	Utilities
FLRY3	Fleury SA	1.2%	R$934.4K	New	▲ 23.7%	Health Services
VAMO3	Vamos Locacao de Caminhoes, Maquinas e Equipamentos SA	1.1%	R$920.2K	New	▲ 54.4%	Finance
MOVI3	Movida Participacoes SA	1.1%	R$920.0K	New	▲ 99.6%	Finance
JSLG3	JSL S.A.	1.1%	R$919.2K	New	▲ 55.1%	Transportation
SIMH3	Simpar SA	1.1%	R$918.7K	New	▲ 73.4%	Transportation
TEND3	Construtora Tenda SA	1.1%	R$877.8K	AddedR$135.1K	▲ 5.9%	Finance
JBSS32	JBS N.V.	1.1%	R$867.3K	AddedR$167.7K	▲ 11.2%	BDR
CEAB3	C&A Modas SA	1.1%	R$864.6K	New	▲ 42.3%	Retail Trade
ANIM3	Anima Holding SA	1.1%	R$856.9K	Trimmed−R$129.8K	▲ 71.9%	Consumer Services
COGN3	Cogna Educacao S.A.	1.1%	R$853.8K	Trimmed−R$39.4K	▲ 40.1%	Commercial Services
AURA33	Aura Minerals Inc	1.1%	R$850.6K	Trimmed−R$1.3M	▲ 4.2%	BDR
MRVE3	MRV Engenharia e Participacoes S.A.	1.0%	R$835.3K	New	▲ 52.7%	Consumer Durables
PNVL3	Dimed S.A. Distribuidora de Medicamentos	1.0%	R$834.4K	New	▲ 26.3%	Retail Trade
ALPA4	Alpargatas SA	1.0%	R$806.8K	New	▲ 26.5%	Consumer Non-Durables
A1MT34	Applied Materials, Inc.	0.6%	R$479.0K	New	▼ 20.4%	BDR
MUTC34	Micron Technology Inc	0.6%	R$462.7K	Held	▼ 18.7%	BDR
GOGL34	Alphabet Inc	0.6%	R$453.2K	Trimmed−R$377.7K	▼ 5.6%	BDR
AMZO34	Amazon.com, Inc.	0.6%	R$452.8K	Trimmed−R$336.4K	▲ 1.7%	BDR
M1TA34	Meta Platforms Inc	0.6%	R$452.8K	Trimmed−R$87.9K	▼ 7.8%	BDR
PSSA3	Porto Seguro S.A.	0.5%	R$425.6K	Trimmed−R$425.6K	▲ 11.3%	Finance
MSFT34	Microsoft Corp	0.3%	R$242.6K	Trimmed−R$683.6K	▲ 0.7%	BDR
TSMC34	Taiwan Semiconductor Manufacturing Co., Ltd. ADR	0.3%	R$235.7K	New	▼ 9.0%	BDR
ITLC34	Intel Corporation	0.3%	R$234.5K	New	▼ 26.1%	BDR
NVDC34	NVIDIA Corporation	0.3%	R$230.2K	Trimmed−R$203.0K	▼ 8.6%	BDR
AAPL34	Apple Inc.	0.3%	R$229.8K	Trimmed−R$203.8K	▼ 1.9%	BDR
C2OI34	Coinbase Global, Inc.	0.3%	R$216.6K	Trimmed−R$189.5K	▼ 12.0%	BDR