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SPX Gestao de Recursos Portfolio holdings
AUM
$898M
Turnover
68.64%
1-Year Est. Return
45.5%
This Fund
S&P 500
This Quarter Est. Return
+8.88%
1 Year Est. Return
+45.5%
3 Year Est. Return
+98.09%
5 Year Est. Return
+114.57%
10 Year Est. Return
+554.4%
AUM
$898M
AUM Growth
-$306M
(-25%)
Cap. Flow
-$276M
Cap. Flow % of AUM
Cap. Flow %
-30.76%
Top 10 Holdings %
Top 10 Hldgs %
49.37%
Holding
118
New
40
Increased
16
Reduced
20
Closed
41
Avg Time Held
Equity + Options
0.7
years
Top 10 Avg Time Held
Equity + Options
0.4
years
Top 20 Avg Time Held
Equity + Options
0.4
years
Avg Time Held Equity only
0.7
years
Top 10 Avg Time Held Equity only
0.4
years
Top 20 Avg Time Held Equity only
0.4
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
XP
XP
|
+$64.6M |
| 2 |
Halliburton
HAL
|
+$34.2M |
| 3 |
Pampa Energía
PAM
|
+$32M |
| 4 |
Rio Tinto
RIO
|
+$26.4M |
| 5 |
Microsoft
MSFT
|
+$26.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street Consumer Staples Select Sector SPDR ETF
XLP
|
+$120M |
| 2 |
Petrobras Class A
PBR.A
|
+$104M |
| 3 |
Vale
VALE
|
+$83.8M |
| 4 |
StoneCo
STNE
|
+$56M |
| 5 |
iShares MSCI China ETF
MCHI
|
+$54.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 30.6% |
| 2 | Technology | 17.62% |
| 3 | Industrials | 15.6% |
| 4 | Energy | 11.3% |
| 5 | Communication Services | 7.88% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
XP
XP
$15.4B
| $78.3M | 8.72% |
4,813,132
+3,626,059
| +305% | +$64.6M |
2025 Q1
5 quarters
|
|
2
LATAM Airlines Group S.A.
LTM
$13.3B
| $61M | 6.79% |
1,046,638
+164,662
| +19% | +$8.47M |
2025 Q1
5 quarters
|
|
3
Transportadora de Gas del Sur
TGS
$4.1B
| $54M | 6.01% |
1,815,590
+790,454
| +77% | +$24.5M |
2025 Q2
4 quarters
|
|
|
4
Pampa Energía
PAM
$4.26B
| $45M | 5.01% |
547,637
+383,994
| +235% | +$32M |
2026 Q1
1 quarter
|
|
5
Vinci Compass Investments Ltd
VINP
$754M
| $43.2M | 4.81% |
4,441,517
-230,656
| -5% | -$2.4M |
2023 Q2
12 quarters
|
|
6
Arcos Dorados Holdings
ARCO
$1.7B
| $36.3M | 4.04% |
4,501,327
-1,447,959
| -24% | -$12.5M |
2025 Q1
5 quarters
|
|
|
7
StoneCo
STNE
$2.65B
| $32.6M | 3.63% |
3,004,035
-4,723,979
| -61% | -$56M |
2025 Q2
4 quarters
|
|
8
Embraer S.A. ADS
EMBJ
$12.6B
| $32.1M | 3.58% |
503,225
+149,936
| +42% | +$9.2M |
2026 Q1
1 quarter
|
|
9
Banco Bradesco
BBD
$45.5B
| $30.8M | 3.43% |
8,863,299
-2,188,675
| -20% | -$8.01M |
2025 Q1
5 quarters
|
|
10
Telecom Argentina
TEO
$5.56B
| $30.2M | 3.36% |
2,320,411
+1,587,714
| +217% | +$20M |
2026 Q1
1 quarter
|
|
|
11
Halliburton
HAL
$29.1B
| $29.8M | 3.31% |
+876,300
| New | +$34.2M |
2026 Q2
0 quarters
|
|
|
12
Rio Tinto
RIO
$136B
| $29.3M | 3.26% |
308,586
+259,936
| +534% | +$26.4M |
2023 Q3
11 quarters
|
|
|
13
Microsoft
MSFT
$3.89T
| $24M | 2.68% |
+64,457
| New | +$26.1M |
2026 Q2
0 quarters
|
|
14
Intercorp Financial Services
IFS
$5.72B
| $22.9M | 2.55% |
401,546
+401,346
| +200,673% | +$19.9M |
2026 Q1
1 quarter
|
|
15
NVIDIA
NVDA
$5.09T
| $22.6M | 2.51% |
112,739
-150,461
| -57% | -$30.9M |
2025 Q1
5 quarters
|
|
16
Alphabet (Google) Class A
GOOGL
$3.92T
| $21.9M | 2.44% |
+61,250
| New | +$22M |
2026 Q2
0 quarters
|
|
17
Freeport-McMoran
FCX
$93.6B
| $21.6M | 2.41% |
+344,076
| New | +$22.1M |
2026 Q2
0 quarters
|
|
18
iShares MSCI Brazil ETF
EWZ
$13.6B
| $20.1M | 2.23% |
581,348
+88,180
| +18% | +$3.3M |
2026 Q1
1 quarter
|
|
19
Micron Technology
MU
$993B
| $19.7M | 2.2% |
17,083
+16,868
| +7,846% | +$12.6M |
2024 Q4
6 quarters
|
|
20
Inter&Co
INTR
$3.17B
| $18.5M | 2.07% |
3,414,933
-608,869
| -15% | -$4.09M |
2025 Q3
3 quarters
|
|
21
Credicorp
BAP
$29.4B
| $17.1M | 1.91% |
43,967
-23,436
| -35% | -$8.01M |
2024 Q3
7 quarters
|
|
22
Mastercard
MA
$546B
| $16.3M | 1.81% |
+31,702
| New | +$15.8M |
2026 Q2
0 quarters
|
|
23
Visa
V
$766B
| $15.6M | 1.74% |
+45,517
| New | +$14.6M |
2026 Q2
0 quarters
|
|
24
Meta Platforms (Facebook)
META
$1.64T
| $14.7M | 1.63% |
26,027
+17,547
| +207% | +$10.7M |
2025 Q1
5 quarters
|
|
|
25
Petrobras Class A
PBR.A
$152B
| $14.5M | 1.62% |
992,898
-5,881,807
| -86% | -$104M |
2023 Q3
11 quarters
|
|
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SPX Gestao de Recursos's Q2 2026 Portfolio in Review
As of Q2 2026, SPX Gestao de Recursos held 118 positions worth $898M, down 25% from $1.2B the previous quarter. Its ten largest holdings account for 49% of the portfolio.
SPX Gestao de Recursos withdrew a net $276M in Q2 2026, closing 41 positions and reducing 20 holdings. Its most notable exit was State Street Consumer Staples Select Sector SPDR ETF, an estimated $120M position sold in full.
By sector, the portfolio is most concentrated in Financials at 31% of assets, up from 18% a quarter earlier, followed by Technology and Industrials.
Against the trend, SPX Gestao de Recursos opened a new position in Halliburton worth $29.8M.
- SPX Gestao de Recursos's largest Q2 2026 buy was Halliburton: 876,300 shares worth $29.8M.
- SPX Gestao de Recursos added most to XP in Q2 2026, an estimated $64.6M increase.
- SPX Gestao de Recursos's biggest Q2 2026 reduction was Petrobras Class A, cutting an estimated $104M.
- SPX Gestao de Recursos fully exited State Street Consumer Staples Select Sector SPDR ETF in Q2 2026, selling an estimated $120M.
- SPX Gestao de Recursos's ten largest holdings make up 49% of its $898M portfolio in Q2 2026.
- SPX Gestao de Recursos opened 40 new positions and closed 41 in Q2 2026.
- SPX Gestao de Recursos's portfolio value fell 25% quarter-over-quarter to $898M.
Based on SPX Gestao de Recursos's 13F filing for Q2 2026, filed 6 Aug 2026.