Wealth High Governance Capital Ltda

CIK 0002028828 · Q4 2025

13F Equity AUM

$534.5M

+53.5% QoQ

Positions

+11 QoQ

AUM Rank

#4,147

Top 33%

Skill Alpha (FF)

+10.3%/yr^ns

No Clear Edge

Rank #291 · Top 4%

vs S&P +3.7%/yr (unadj.)

Quarters Tracked

~3 years

Portfolio Concentration

Top 5: 23.0%Top 10: 40.0%Top 20: 67.5%

NRA7.3%

ALB4.0%

NXT4.0%

SQM3.9%

LITE3.8%

SATS3.7%

PH3.5%

TAN3.4%

SN3.2%

HUT3.1%

Others (36)60.0%

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

Sector Allocation

Technology19.0%

Basic Materials17.3%

Financial Services15.0%

Industrials14.6%

Consumer Cyclical13.6%

Utilities8.2%

Energy4.8%

Consumer Defensive4.8%

Other2.7%

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

Position Sizing

Positions: 46Median: 2.11%Avg: 2.17%

0–0.5%

3(1.0%)

0.5–1%

10(8.6%)

1–3%

21(44.2%)

3–5%

11(38.9%)

5%+

1(7.3%)

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

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Portfolio Overlap

Shared: 46Unique: 0vs 20 funds

0.6%Low

Fund positions

7,201

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.

Most Similar Funds

Top 8 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

0.9%

JPMORGAN CHASE & CO

BANK OF AMERICA CORP /DE/

BlackRock, Inc.

1.1%

VANGUARD GROUP INC

1.2%

FMR LLC

1.4%

GEODE CAPITAL MANAGEMENT, LLC

1.2%

STATE STREET CORP

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New32Increased9Decreased5Exited20

New Positions

ALB4.0%

+153K

NXT4.0%

+244K

SQM3.9%

+305K

LITE3.8%

+55K

SATS3.7%

+183K

PH3.5%

+21K

TAN3.4%

+366K

SN3.2%

+153K

TKR3.1%

+195K

CHRW2.9%

+98K

Increased

HBM2.7%

+372K(+103%)

SRAD1.6%

+216K(+144%)

TTMI2.4%

+147K(+409%)

NRA7.3%

+124K(+103%)

CVNA2.9%

+25K(+205%)

CLS2.7%

+13K(+36%)

CW3.1%

+13K(+70%)

CENX1.1%

+3K(+2%)

AS0.8%

+2K(+2%)

Decreased

HPE0.8%

-356,921(-66%)

IMG0.8%

-355,895(-59%)

EAT0.5%

-101,692(-85%)

HUT3.1%

-53,843(-13%)

HLI2.0%

-10,974(-15%)

Exited

-540,001

-480,000

-240,001

-240,000

-300,000

-300,000

-1,320,000

-60,000

-180,000

-180,000

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

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Holdings

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