SPX Gestao de Recursos Ltda

CIK 0001589176 · Q2 2026

13F Equity AUM

$898.0M

-25.4% QoQ

Positions

0 QoQ

AUM Rank

#2,598

Top 30%

Skill Alpha (FF)

-1.6%/yr^ns

No Clear Edge

Rank #5,278 · Top 64%

vs S&P -4.9%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 31.3%Top 10: 49.4%Top 20: 75.0%

XP8.7%

LTM6.8%

TGS6.0%

PAM5.0%

VINP4.8%

ARCO4.0%

STNE3.6%

EMBJ3.6%

BBD3.4%

TEO3.4%

Others (67)50.6%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services31.5%

Technology17.6%

Energy11.1%

Industrials10.6%

Communication Services7.9%

Consumer Cyclical6.8%

Basic Materials6.5%

Utilities6.3%

Other1.8%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 77Median: 0.44%Avg: 1.30%

0–0.5%

41(6.2%)

0.5–1%

8(5.7%)

1–3%

16(32.2%)

3–5%

8(29.4%)

5%+

4(26.5%)

Count of positions per weight bucket — (%) = combined portfolio weight

Loading summary cards...

Portfolio Overlap

Shared: 0Unique: 77vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Loading overlap analysis...

Position Changes This Quarter

New38Increased19Decreased19Exited41

New Positions

HAL3.3%

+876K

MSFT2.7%

+64K

GOOGL2.4%

+61K

FCX2.4%

+344K

MA1.8%

+32K

V1.7%

+46K

LITE0.8%

+9K

WDC0.8%

+11K

COHR0.7%

+17K

STX0.6%

+5K

Increased

XP8.7%

+3.6M(+305%)

TEO3.4%

+1.6M(+217%)

TGS6.0%

+790K(+77%)

IFS2.5%

+401K(+200673%)

PAM5.0%

+384K(+235%)

BSAC1.2%

+280K(+496%)

RIO3.3%

+260K(+534%)

SAJA0.2%

+174K(+98%)

LTM6.8%

+165K(+19%)

EMBJ3.6%

+150K(+42%)

Decreased

PJX1.6%

-5,881,807(-86%)

VALE0.7%

-5,141,115(-93%)

STNE3.6%

-4,723,979(-61%)

BBD3.4%

-2,188,675(-20%)

EVEX0.1%

-1,878,998(-82%)

PBR0.1%

-1,652,362(-95%)

ARCO4.0%

-1,447,959(-24%)

AXIA/PC0.0%

-667,226(-100%)

INTR2.1%

-608,869(-15%)

ELPC0.6%

-435,778(-48%)

Exited

XLP

-1,466,111

MCHI

-972,000

-2,569,755

CPA

-224,792

-354,344

GGB

-4,254,223

-155,300

CPAY

-29,260

OIH

-16,500

CEPU

-361,495

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

Loading position changes...

Holdings

Loading holdings...