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SGDR
SPX Gestao de Recursos Portfolio holdings
AUM
$898M
1-Year Est. Return
45.5%
This Fund
S&P 500
This Quarter
Est. Return
+5.46%
1 Year Est. Return
+45.5%
3 Year Est. Return
+98.09%
5 Year Est. Return
+114.57%
10 Year Est. Return
+554.2%
AUM
$979M
AUM Growth
-$224M
(-19%)
Cap. Flow
-$263M
Cap. Flow
% of AUM
-26.9%
Top 10 Holdings %
Top 10 Hldgs %
60.86%
Holding
177
New
17
Increased
24
Reduced
24
Closed
108
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
StoneCo
STNE
|
+$80M |
| 2 |
KraneShares CSI China Internet ETF
KWEB
|
+$79.8M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$55M |
| 4 |
XP
XP
|
+$38.6M |
| 5 |
First Solar
FSLR
|
+$22.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vale
VALE
|
+$130M |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$79M |
| 3 |
iShares MSCI Brazil ETF
EWZ
|
+$49.6M |
| 4 |
Vistra
VST
|
+$41.6M |
| 5 |
Petrobras
PBR
|
+$37M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 20.95% |
| 2 | Technology | 19.57% |
| 3 | Energy | 13.18% |
| 4 | Materials | 10.84% |
| 5 | Consumer Discretionary | 10.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
CEMIG Preferred Shares
CIG
$5.64B
| $710K | 0.07% |
354,805
+34,027
| +11% | +$69.7K |
|
52
Iris Energy
IREN
$14.2B
| $661K | 0.07% |
17,500
-55,100
| -76% | -$2.84M |
|
53
Santander
BSBR
$43.1B
| $334K | 0.03% |
+54,694
| New | +$320K |
|
|
AXIA.PR
54
DELISTED
AXIA Energia American Depositary Shares Preferred Class B1
AXIA.PR
| $318K | 0.03% |
33,986
-29,618
| -47% | -$272K |
|
55
Enel Chile
ENIC
$6.18B
| $282K | 0.03% |
+70,089
| New | +$270K |
|
56
Ambev
ABEV
$43.9B
| $174K | 0.02% |
70,408
-3,172,186
| -98% | -$7.55M |
|
57
Itaú Unibanco
ITUB
$82.7B
| $159K | 0.02% |
22,194
-1,702,110
| -99% | -$12.1M |
|
58
iShares MSCI South Korea ETF
EWY
$25.9B
| $153K | 0.02% |
1,574
-28,426
| -95% | -$2.6M |
|
|
GRO
59
Brazil Potash Corp
GRO
$137M
| $141K | 0.01% |
74,572
| – | – |
|
60
Alphabet (Google) Class A
GOOGL
$4.2T
| $13.8K | ﹤0.01% |
+44
| New | +$12.6K |
|
|
AXIA
61
DELISTED
AXIA Energia
AXIA
| $11.8K | ﹤0.01% |
1,285
-596,301
| -100% | -$5.16M |
|
62
Companhia Siderúrgica Nacional
SID
$1.15B
| $4.97K | ﹤0.01% |
+3,107
| New | +$5.05K |
|
|
63
CEMIG Ordinary Shares
CIG.C
$8.41B
| $1.47K | ﹤0.01% |
+565
| New | +$1.48K |
|
64
Archer Aviation
ACHR
$5.18B
| – | – |
-105,000
| Closed | -$1.01M |
|
|
AMBI
65
DELISTED
Ambipar Emergency Response
AMBI
| – | – |
-6,642
| Closed | -$5.31K |
|
|
AMBI.WS
66
DELISTED
Ambipar Emergency Response Warrants
AMBI.WS
| – | – |
-1,592,965
| Closed | -$66.9K |
|
67
Arista Networks
ANET
$250B
| – | – |
-8,000
| Closed | -$1.17M |
|
68
Array Technologies
ARRY
$824M
| – | – |
-27,000
| Closed | -$220K |
|
69
ASP Isotopes
ASPI
$544M
| – | – |
-109,600
| Closed | -$1.05M |
|
70
Broadcom
AVGO
$1.98T
| – | – |
-21,000
| Closed | -$6.93M |
|
71
Bank of America
BAC
$448B
| – | – |
-15,000
| Closed | -$774K |
|
72
Bloom Energy
BE
$62.2B
| – | – |
-20,000
| Closed | -$1.69M |
|
73
Bitdeer Technologies
BTDR
$2.11B
| – | – |
-42,000
| Closed | -$718K |
|
74
BWX Technologies
BWXT
$15.5B
| – | – |
-5,500
| Closed | -$1.01M |
|
|
BBBY
75
Bed Bath & Beyond
BBBY
$407M
| – | – |
-61,600
| Closed | -$548K |
|
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GEM
WIC
FTM
GGH
SI
BFFIM
AIC
SPX Gestao de Recursos's Q4 2025 Portfolio in Review
As of Q4 2025, SPX Gestao de Recursos held 177 positions worth $979M, down 19% from $1.2B the previous quarter. Its ten largest holdings account for 61% of the portfolio.
SPX Gestao de Recursos withdrew a net $263M in Q4 2025, closing 108 positions and reducing 24 holdings. Its most notable exit was iShares MSCI Emerging Markets ETF, an estimated $79M position sold in full.
By sector, the portfolio is most concentrated in Financials at 21% of assets, up from 17% a quarter earlier, followed by Technology and Energy.
Against the trend, SPX Gestao de Recursos opened a new position in KraneShares CSI China Internet ETF worth $70.7M.
- SPX Gestao de Recursos's largest Q4 2025 buy was KraneShares CSI China Internet ETF: 2,075,400 shares worth $70.7M.
- SPX Gestao de Recursos added most to StoneCo in Q4 2025, an estimated $80M increase.
- SPX Gestao de Recursos's biggest Q4 2025 reduction was Vale, cutting an estimated $130M.
- SPX Gestao de Recursos fully exited iShares MSCI Emerging Markets ETF in Q4 2025, selling an estimated $79M.
- SPX Gestao de Recursos's ten largest holdings make up 61% of its $979M portfolio in Q4 2025.
- SPX Gestao de Recursos opened 17 new positions and closed 108 in Q4 2025.
- SPX Gestao de Recursos's portfolio value fell 19% quarter-over-quarter to $979M.
Based on SPX Gestao de Recursos's 13F filing for Q4 2025, filed 13 Feb 2026.