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Asset Manager ← All Institutions

SPX Gestao de Recursos Ltda

RUA HUMAITA, 275, 6 ANDAR HUMAITA, RIO DE JANEIRO, D5 22261000 • 552132031580

Q2 2025 · Filed 2025-08-12
Market Value
$1.1B
+38.0%
Holdings
121
-1
New Purchases
35
Added To
34
Closed
29
Reduced
19
Top 10 Concentration
48.8%
Turnover
52.9%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CEG 4.34% 0.33% +4.01% $46M
META 4.09% 0.90% +3.19% $43M
PBR 5.87% 2.83% +3.04% $62M
VST 6.39% 3.41% +2.98% $68M
AMZN 3.58% 1.37% +2.22% $38M
TLN 4.66% 2.54% +2.12% $50M
TGS 2.04% 0.00% +2.04% $22M
HES 1.98% 0.00% +1.98% $21M
PPC 1.92% 0.00% +1.92% $20M
IJR 8.09% 6.17% +1.92% $86M
GOOG 1.92% 0.00% +1.92% $20M
KBE 1.69% 0.00% +1.69% $18M
GOOGL 1.32% 0.00% +1.32% $14M
BBD 1.13% 0.00% +1.13% $12M
BHP 0.98% 0.09% +0.89% $10M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MDY 0.00% 6.00% -6.00% $0
VALE 2.50% 6.97% -4.47% $27M
PAGS 0.00% 4.10% -4.10% $0
XP 0.53% 4.45% -3.93% $6M
AGRO 0.00% 1.78% -1.78% $0
RSP 0.00% 1.60% -1.60% $0
PCG 0.00% 1.56% -1.56% $0
PEG 0.00% 1.55% -1.55% $0
MU 0.23% 1.73% -1.50% $2M
SLYV 0.78% 2.17% -1.39% $8M
CVX 0.00% 1.30% -1.30% $0
SE 0.00% 1.27% -1.27% $0
VINP 3.42% 4.60% -1.18% $36M
XSHQ 0.72% 1.88% -1.15% $8M
OUSM 0.00% 0.95% -0.95% $0

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 35.3%
Energy 19.1%
Technology 15.9%
Basic Materials 10.3%
Industrials 8.3%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 19 $157M 14.7%
Large Cap 62 $634M 59.5%
Mid Cap 28 $170M 16.0%
Small Cap 7 $93M 8.8%
Micro Cap 5 $10M 1.0%

Portfolio Analytics

Avg Market Cap
$248.4B
Median Market Cap
$36.3B
Avg P/E
33.6
Median P/E
21.4
Avg Dividend Yield
0.02%
Avg Beta
1.01
# Stocks
107
# ETFs / Funds
14

Top Holdings (121 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 IJR 8.09% 787,565 $86M $109.29 $39M +332,699 +73.1%
2 VST 6.39% 351,000 $68M $193.81 $42M +127,000 +56.7%
3 PBR 5.87% 4,990,500 $62M $12.51 $41M +3,470,112 +228.2%
4 TLN 4.66% 170,700 $50M $290.77 $30M +72,600 +74.0%
5 CPA 4.49% 434,244 $48M $109.97 $6M -13,537 -3.0%
6 CEG 4.34% 143,000 $46M $322.76 $44M +130,500 +1044.0%
7 META 4.09% 58,930 $43M $738.09 $37M +46,930 +391.1%
8 BAP 3.93% 186,961 $42M $223.52 $14M +37,919 +25.4%
9 AMZN 3.58% 173,900 $38M $219.39 $28M +118,400 +213.3%
10 VINP 3.42% 3,759,784 $36M $9.67 $886K +254,754 +7.3%
11 ARCO 3.36% 4,534,496 $36M $7.89 $16M +2,027,722 +80.9%
12 VRT 2.77% 230,000 $30M $128.41 $14M +20,000 +9.5%
13 VALE 2.50% 2,741,291 $27M $9.71 -$27M -2,646,753 -49.1%
14 SRE 2.19% 308,218 $23M $75.77 $11M +139,039 +82.2%
15 TGS 2.04% 837,142 $22M $25.90 +837,142 NEW
16 HES 1.98% 151,794 $21M $138.54 +151,794 NEW
17 PPC 1.92% 455,475 $20M $44.98 +455,475 NEW
18 GOOG 1.92% 114,913 $20M $177.39 +114,913 NEW
19 PBR-A 1.87% 1,724,375 $20M $11.54 $4M +486,755 +39.3%
20 GGAL 1.74% 368,261 $19M $50.39 $6M +146,547 +66.1%
21 KBE 1.69% 322,200 $18M $55.76 +322,200 NEW
22 RIO 1.53% 278,840 $16M $58.33 $11M +184,704 +196.2%
23 GOOGL 1.32% 80,000 $14M $176.23 +80,000 NEW
24 BP 1.29% 457,113 $14M $29.93 $8M +292,763 +178.1%
25 BBD 1.13% 3,902,945 $12M $3.09 $12M +3,893,984 +43454.8%
26 ERJ 1.06% 198,609 $11M $56.91 $5M +59,245 +42.5%
27 BHP 0.98% 217,500 $10M $48.09 $10M +202,541 +1354.0%
28 HDB 0.89% 123,077 $9M $76.67 -$4M -80,000 -39.4%
29 GGB 0.79% 2,869,104 $8M $2.92 +2,869,104 NEW
30 ELP 0.79% 916,030 $8M $9.13 $243K -194,783 -17.5%
31 SLYV 0.78% 104,095 $8M $79.76 -$8M -109,095 -51.2%
32 CNR 0.73% 112,109 $8M $69.74 +112,109 NEW
33 XSHQ 0.72% 189,080 $8M $40.73 -$7M -177,161 -48.4%
34 STNE 0.72% 477,213 $8M $16.04 +477,213 NEW
35 NVDA 0.70% 47,000 $7M $157.99 $4M +12,000 +34.3%
36 GS 0.66% 10,000 $7M $707.75 +10,000 NEW
37 SNOW 0.63% 30,000 $7M $223.77 $5M +15,000 +100.0%
38 EEM 0.54% 120,000 $6M $48.24 +120,000 NEW
39 EWZ 0.54% 200,000 $6M $28.85 +200,000 NEW
40 BTU 0.53% 422,200 $6M $13.42 +422,200 NEW
41 XP 0.53% 277,825 $6M $20.20 -$29M -2,219,790 -88.9%
42 OKLO 0.53% 100,000 $6M $55.99 $5M +50,000 +100.0%
43 ITUB 0.51% 793,180 $5M $6.79 $2M +119,113 +17.7%
44 EWY 0.50% 74,000 $5M $71.78 +74,000 NEW
45 GEV 0.50% 10,000 $5M $529.15 $1M -2,500 -20.0%
46 AXIA 0.47% 670,083 $5M $7.43 $761K +76,033 +12.8%
47 ABEV 0.45% 1,990,483 $5M $2.41 -$1M -573,891 -22.4%
48 OWL 0.45% 249,300 $5M $19.21 $4M +189,000 +313.4%
49 SN 0.44% 47,000 $5M $98.99 $3M +31,300 +199.4%
50 NEM 0.41% 75,000 $4M $58.26 +75,000 NEW
51 SBS 0.38% 186,068 $4M $21.97 -$4M -274,578 -59.6%
52 MRVL 0.36% 50,000 $4M $77.40 +50,000 NEW
53 UBER 0.35% 40,000 $4M $93.30 -$1M -27,500 -40.7%
54 ETN 0.34% 10,000 $4M $356.99 +10,000 NEW
55 BAC 0.33% 75,000 $4M $47.32 +75,000 NEW
56 BMA 0.27% 41,483 $3M $70.21 -$3M -40,388 -49.3%
57 T 0.27% 100,000 $3M $28.94 $1M +50,000 +100.0%
58 HIMS 0.23% 50,000 $2M $49.85 +50,000 NEW
59 DASH 0.23% 10,000 $2M $246.51 +10,000 NEW
60 MU 0.23% 20,000 $2M $123.25 -$11M -133,672 -87.0%
61 WFC 0.23% 30,000 $2M $80.12 +30,000 NEW
62 GAMB 0.19% 166,300 $2M $11.89 +166,300 NEW
63 CCJ 0.17% 25,000 $2M $74.23 +25,000 NEW
64 PSLV 0.17% 150,000 $2M $12.24 -$484K -50,000 -25.0%
65 TDG 0.17% 1,200 $2M $1,520.64 $718K +400 +50.0%
66 SNDK 0.17% 40,000 $2M $45.35 +40,000 NEW
67 CTLP 0.17% 164,000 $2M $10.99 $1M +95,000 +137.7%
68 CORZ 0.16% 98,700 $2M $17.07 $1M +47,500 +92.8%
69 SUZ 0.15% 172,511 $2M $9.41 -$57K -8,335 -4.6%
70 CARR 0.14% 20,000 $1M $73.19 +20,000 NEW
71 NKE 0.13% 20,000 $1M $71.04 +20,000 NEW
72 MDB 0.12% 6,000 $1M $209.99 +6,000 NEW
73 MYTE 0.12% 155,500 $1M $7.94 $550K +65,000 +71.8%
74 DDOG 0.11% 9,000 $1M $134.33 +9,000 NEW
75 NET 0.11% 6,000 $1M $195.83 -$2M -19,000 -76.0%
76 ACHR 0.09% 90,000 $976K $10.85 $337K
77 GRND 0.09% 42,100 $956K $22.70 $202K
78 LTM 0.09% 23,474 $954K $40.64 -$5M -164,739 -87.5%
79 FXI 0.09% 25,370 $933K $36.76 $23K
80 RUN 0.08% 100,000 $818K $8.18 +100,000 NEW
81 URA 0.07% 20,000 $776K $38.81 +20,000 NEW
82 ELPC 0.06% 70,929 $604K $8.52 $141K +2,257 +3.3%
83 UEC 0.05% 75,000 $510K $6.80 +75,000 NEW
84 CEPO 0.04% 40,000 $476K $11.90 +40,000 NEW
85 EBR-B 0.04% 45,939 $380K $8.27 $23K +135 +0.3%
86 GRO 0.03% 202,999 $276K $1.36 -$297K +15,639 +8.3%
87 CEPT 0.01% 10,000 $110K $11.03 +10,000 NEW
88 BABA 0.01% 500 $57K $113.41 -$4M -31,000 -98.4%
89 CIG —% 21,593 $42K $1.96 -$45K -28,202 -56.6%
90 ENIC —% 371 $1K $3.63 +371 NEW
91 SPY —% 1 $618 $618.00 +1 NEW
92 WALDW —% 1,988 $193 $0.10 -$67
93 ETR —% -$1M -15,000 -100.0% SOLD
94 AMD —% -$2M -17,700 -100.0% SOLD
95 EXE —% -$2M -15,000 -100.0% SOLD
96 EQT —% -$4M -75,000 -100.0% SOLD
97 VTMX —% -$6M -253,726 -100.0% SOLD
98 FCX —% -$5M -125,000 -100.0% SOLD
99 PCG —% -$12M -698,300 -100.0% SOLD
100 HOOD —% -$1M -25,000 -100.0% SOLD

Options Breakdown

0 Calls $0 Call Value 1 Puts $0 Put Value

Top Puts

SymbolSharesValueStatus
RGTI $0 SOLD

New Positions

SymbolValue% Port
TGS $22M 2.04%
HES $21M 1.98%
PPC $20M 1.92%
GOOG $20M 1.92%
KBE $18M 1.69%
GOOGL $14M 1.32%
GGB $8M 0.79%
CNR $8M 0.73%
STNE $8M 0.72%
GS $7M 0.66%
EEM $6M 0.54%
EWZ $6M 0.54%
BTU $6M 0.53%
EWY $5M 0.50%
NEM $4M 0.41%

Sold Out Positions

SymbolValue% Port
CVX —%
AGRO —%
SE —%
BSAC —%
PAGS —%
BE —%
FLS —%
WMB —%
SHEL —%
WEC —%
PCG —%
VTMX —%
ETR —%
EQT —%
PEG —%
View SEC EDGAR Filings for SPX Gestao de Recursos Ltda →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms