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Gavea Investimentos Portfolio holdings
AUM
$77.6M
1-Year Est. Return
64.56%
This Fund
S&P 500
This Quarter
Est. Return
+15.89%
1 Year Est. Return
-64.56%
3 Year Est. Return
-60.27%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$104M
AUM Growth
-$76.3M
(-42%)
Cap. Flow
-$97.7M
Cap. Flow
% of AUM
-93.6%
Top 10 Holdings %
Top 10 Hldgs %
99%
Holding
15
New
7
Increased
–
Reduced
4
Closed
4
Avg Time Held Equity + Options
1.6
quarters
Top 10 Avg Time Held Equity + Options
1.8
quarters
Top 20 Avg Time Held Equity + Options
1.6
quarters
Avg Time Held Equity only
1.8
quarters
Top 10 Avg Time Held Equity only
1.8
quarters
Top 20 Avg Time Held Equity only
1.8
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$9.78M |
| 2 |
POSCO
PKX
|
+$9.49M |
| 3 |
Cemex
CX
|
+$3.03M |
| 4 |
RSX
VanEck Russia ETF
RSX
|
+$1.99M |
| 5 |
iShares MSCI India ETF
INDA
|
+$1.98M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CZZ
Cosan Limited
CZZ
|
+$69.5M |
| 2 |
Petrobras Class A
PBR.A
|
+$31M |
| 3 |
Itaú Unibanco
ITUB
|
+$8.56M |
| 4 |
Pioneer Natural Resource Co.
PXD
|
+$7.14M |
| 5 |
iShares MSCI Brazil ETF
EWZ
|
+$5.21M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 37.09% |
| 2 | Energy | 32.2% |
| 3 | Miscellaneous | 18.29% |
| 4 | Materials | 12.43% |
| 5 | Financials | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
CZZ
1
DELISTED
Cosan Limited
CZZ
| $38.7M | 37.09% |
5,415,519
-10,307,369
| -66% | -$69.5M |
2013 Q3
12 quarters
|
|
|
2
DELISTED
Pioneer Natural Resource Co.
PXD
| $28.4M | 27.25% |
153,247
-41,953
| -21% | -$7.14M |
2016 Q2
1 quarter
|
|
|
3
iShares MSCI Emerging Markets ETF
EEM
$31B
| $10M | 9.59% |
+267,500
| New | +$9.78M |
2016 Q3
0 quarters
|
|
|
4
POSCO
PKX
$17.4B
| $9.84M | 9.42% |
+192,600
| New | +$9.49M |
2016 Q3
0 quarters
|
|
|
5
Petrobras Class A
PBR.A
$145B
| $5.17M | 4.95% |
621,712
-4,119,530
| -87% | -$31M |
2015 Q3
4 quarters
|
|
|
6
Cemex
CX
$13.8B
| $3.14M | 3.01% |
+411,299
| New | +$3.03M |
2016 Q3
0 quarters
|
|
|
RSX
7
DELISTED
VanEck Russia ETF
RSX
| $2.04M | 1.96% |
+108,900
| New | +$1.99M |
2016 Q3
0 quarters
|
|
|
8
iShares MSCI Brazil ETF
EWZ
$10.2B
| $2.02M | 1.93% |
59,800
-157,400
| -72% | -$5.21M |
2016 Q2
1 quarter
|
|
|
9
iShares MSCI India ETF
INDA
$5.73B
| $1.99M | 1.91% |
+67,700
| New | +$1.98M |
2016 Q3
0 quarters
|
|
10
iShares MSCI Indonesia ETF
EIDO
$422M
| $1.99M | 1.9% |
+75,100
| New | +$1.94M |
2016 Q3
0 quarters
|
|
11
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$833B
| $1.04M | 1% |
+25,400
| New | +$5.49M |
2016 Q3
0 quarters
|
|
12
HDFC Bank
HDB
$115B
| – | – |
-272,800
| Closed | -$4.53M | – |
|
|
13
Itaú Unibanco
ITUB
$112B
| – | – |
-2,055,618
| Closed | -$8.56M | – |
|
14
CALL
iShares S&P 100 ETF
OEF
$20.8B
| – | – |
-4,800
| Closed | -$67K | – |
|
|
15
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$833B
| – | – |
-13,900
| Closed | -$1.55M | – |
|
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Gavea Investimentos's Q3 2016 Portfolio in Review
As of Q3 2016, Gavea Investimentos held 15 positions worth $104M, down 42% from $181M the previous quarter. Its ten largest holdings account for 99% of the portfolio.
Gavea Investimentos withdrew a net $97.7M in Q3 2016, closing 4 positions and reducing 4 holdings. Its most notable exit was Itaú Unibanco, an estimated $8.56M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 37% of assets, down from 57% a quarter earlier, followed by Energy and Miscellaneous.
Against the trend, Gavea Investimentos opened a new position in iShares MSCI Emerging Markets ETF worth $10M.
- Gavea Investimentos's largest Q3 2016 buy was iShares MSCI Emerging Markets ETF: 267,500 shares worth $10M.
- Gavea Investimentos's biggest Q3 2016 reduction was Cosan Limited, cutting an estimated $69.5M.
- Gavea Investimentos fully exited Itaú Unibanco in Q3 2016, selling an estimated $8.56M.
- Gavea Investimentos's ten largest holdings make up 99% of its $104M portfolio in Q3 2016.
- Gavea Investimentos opened 7 new positions and closed 4 in Q3 2016.
- Gavea Investimentos's portfolio value fell 42% quarter-over-quarter to $104M.
Based on Gavea Investimentos's 13F filing for Q3 2016, filed 14 Nov 2016.