Sicredi

Sicredi Asset Management Ltda.

Portfolio as of September 2026compared with August 2026

In stocks

R$400.6M

Stocks

Top 10: 78%

Funds

YTD

▲ 51.0%

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$24.8M
Sells: −R$6.5M
New positions: 2
Exited: 1

Sectors

Energy Minerals46.9%
Finance21.0%
Utilities12.1%
Non-Energy Minerals6.5%
Retail Trade5.7%
Health Services1.8%

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
PETR4	Petroleo Brasileiro SA	45.9%	R$184.0M	AddedR$10.9M	▲ 18.5%	Energy Minerals
ITUB4	Itau Unibanco Holding SA	7.5%	R$30.0M	Held	▲ 10.2%	Finance
VALE3	Vale S.A.	5.1%	R$20.6M	AddedR$2.1M	▼ 6.4%	Non-Energy Minerals
EQTL3	Equatorial S.A.	3.7%	R$14.6M	Held	▲ 22.0%	Utilities
B3SA3	B3 SA - Brasil, Bolsa, Balcao	3.6%	R$14.6M	AddedR$1.9M	▲ 29.3%	Finance
SBSP3	Companhia de Saneamento Basico do Estado de Sao Paulo SABESP	2.9%	R$11.7M	Held	▲ 18.6%	Utilities
BBDC4	Banco Bradesco SA	2.9%	R$11.5M	Held	▲ 11.7%	Finance
CPLE3	Companhia Paranaense de Energia	2.3%	R$9.0M	AddedR$297.6K	▲ 10.3%	Utilities
VBBR3	Vibra Energia SA	2.2%	R$9.0M	AddedR$226.7K	▼ 1.3%	Retail Trade
RENT3	Localiza Rent A Car SA	2.1%	R$8.3M	AddedR$1.1M	▲ 30.5%	Finance
RDOR3	Rede D'Or Sao Luiz SA	1.8%	R$7.0M	Held	▲ 15.1%	Health Services
WEGE3	WEG SA	1.5%	R$5.9M	Held	▼ 1.4%	Producer Manufacturing
GGBR4	Gerdau S.A.	1.4%	R$5.5M	Held	▲ 8.2%	Non-Energy Minerals
VIVT3	Telefonica Brasil S.A.	1.3%	R$5.3M	Held	▲ 8.0%	Communications
CURY3	Cury Construtora e Incorporadora SA	1.3%	R$5.2M	Trimmed−R$1.8M	▲ 18.1%	Finance
RADL3	Raia Drogasil S.A.	1.3%	R$5.0M	Held	▲ 17.6%	Retail Trade
UGPA3	Ultrapar Participacoes S.A.	1.1%	R$4.2M	AddedR$745.5K	▲ 5.6%	Retail Trade
CPFE3	CPFL Energia S.A.	1.0%	R$4.0M	AddedR$132.0K	▲ 10.0%	Utilities
ORVR3	Orizon Valorizacao de Residuos SA	1.0%	R$3.9M	Held	▲ 18.3%	Utilities
PRIO3	Prio SA	0.9%	R$3.7M	Held	▲ 17.0%	Energy Minerals
CYRE3	Cyrela Brazil Realty SA Empreendimentos e Participacoes	0.9%	R$3.5M	AddedR$747.5K	▲ 26.6%	Finance
SUZB3	Suzano S.A.	0.9%	R$3.5M	Held	▼ 4.1%	Process Industries
ALOS3	Allos S.A.	0.8%	R$3.3M	AddedR$221.2K	▲ 21.1%	Finance
SLCE3	SLC Agricola S.A.	0.8%	R$3.0M	AddedR$99.2K	▲ 1.6%	Process Industries
MOVI3	Movida Participacoes SA	0.7%	R$3.0M	AddedR$698.0K	▲ 99.6%	Finance
CSMG3	Companhia de Saneamento de Minas Gerais	0.7%	R$3.0M	New	▲ 12.9%	Utilities
HYPE3	Hypera S.A.	0.7%	R$2.9M	AddedR$97.9K	▲ 11.3%	Health Technology
ITSA4	Itausa SA	0.6%	R$2.5M	Held	▲ 8.2%	Finance
ASAI3	Sendas Distribuidora SA	0.6%	R$2.5M	Trimmed−R$4.7M	▲ 27.9%	Retail Trade
EGIE3	ENGIE Brasil Energia S.A.	0.6%	R$2.3M	AddedR$76.6K	▲ 6.0%	Utilities
MULT3	Multiplan Empreendimentos Imobiliarios SA	0.6%	R$2.3M	AddedR$596.3K	▲ 19.7%	Finance
SIMH3	Simpar SA	0.6%	R$2.3M	AddedR$213.8K	▲ 73.4%	Transportation
LREN3	Lojas Renner S.A.	0.5%	R$2.1M	AddedR$179.8K	▲ 28.7%	Retail Trade
ECOR3	EcoRodovias Infraestrutura e Logistica S.A.	0.4%	R$1.5M	New	▲ 52.3%	Transportation

Exited this month

TIMS3R$0

Funds

Quota return, after fees

Fund	Class	AUM	YTD	12 months	Latest portfolio
SICREDI IBOVESPA -	Ações Índice Ativo	R$235.1M	▲ 23.8%	▲ 37.5%	Sep/26
SICREDI -	Fundos de Mono Ação	R$213.0M	▲ 101.9%	▲ 103.7%	Sep/26
SICREDI	Previdência Ações Indexados	R$151.1M	▲ 21.6%	▲ 28.2%	Sep/26

Past performance is no guarantee of future results.