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SGDR

SPX Gestao de Recursos Portfolio holdings

AUM $1.2B
1-Year Est. Return 59.05%
This Fund
S&P 500
This Quarter Est. Return
+13.02%
1 Year Est. Return
+59.05%
3 Year Est. Return
+90.69%
5 Year Est. Return
+120.4%
10 Year Est. Return
+537.48%
AUM
$1.2B
AUM Growth
+$131M
Cap. Flow
+$43M
Cap. Flow %
3.57%
Top 10 Hldgs %
50.72%
Holding
214
New
97
Increased
32
Reduced
24
Closed
54

Top Buys

Rank Stock Value
1
VALE icon
Vale
VALE
+$85M
2
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$68.3M
3
LTM
LATAM Airlines Group S.A.
LTM
+$41M
4
EWZ icon
iShares MSCI Brazil ETF
EWZ
+$40.1M
5
PBR icon
Petrobras
PBR
+$36.8M

Top Sells

Rank Stock Value
1
IJR icon
iShares Core S&P Small-Cap ETF
IJR
+$86.1M
2
CEG icon
Constellation Energy
CEG
+$46.2M
3
TLN
Talen Energy Corp
TLN
+$37.6M
4
META icon
Meta Platforms (Facebook)
META
+$35.7M
5
AMZN icon
Amazon
AMZN
+$31.9M

Sector Composition

Rank Sector Weight
1 Materials 17.99%
2 Financials 17.28%
3 Energy 14.68%
4 Industrials 11.35%
5 Technology 9.98%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VALE icon
1
Vale
VALE
$62.9B
$120M 9.99%
11,068,403
+8,327,112
+304% +$85M
PBR icon
2
Petrobras
PBR
$121B
$100M 8.33%
7,916,982
+2,926,482
+59% +$36.8M
EEM icon
3
iShares MSCI Emerging Markets ETF
EEM
$28B
$79M 6.57%
1,480,000
+1,360,000
+1,133% +$68.3M
EWZ icon
4
iShares MSCI Brazil ETF
EWZ
$9.05B
$49.6M 4.12%
1,600,000
+1,400,000
+700% +$40.1M
CPA icon
5
Copa Holdings
CPA
$5.56B
$48.3M 4.02%
406,642
-27,602
-6% -$3.16M
VINP icon
6
Vinci Compass Investments Ltd
VINP
$623M
$43.4M 3.61%
4,038,396
+278,612
+7% +$2.77M
ARCO icon
7
Arcos Dorados Holdings
ARCO
$1.73B
$42.8M 3.56%
6,342,621
+1,808,125
+40% +$12.8M
RIO icon
8
Rio Tinto
RIO
$148B
$42.7M 3.55%
646,866
+368,026
+132% +$22.8M
LTM
9
LATAM Airlines Group S.A.
LTM
$14.4B
$42.3M 3.52%
935,321
+911,847
+3,884% +$41M
VST icon
10
Vistra
VST
$55.1B
$41.6M 3.46%
212,500
-138,500
-39% -$27.4M
XP icon
11
XP
XP
$8.62B
$37.6M 3.12%
2,000,292
+1,722,467
+620% +$30.9M
BAP icon
12
Credicorp
BAP
$30.9B
$34.2M 2.85%
128,592
-58,369
-31% -$14.4M
AUGO
13
Aura Minerals Inc
AUGO
$4.58B
$30M 2.49%
+805,922
New +$23.1M
TLN
14
Talen Energy Corp
TLN
$17.2B
$28.3M 2.36%
66,630
-104,070
-61% -$37.6M
FSLR icon
15
First Solar
FSLR
$21.8B
$25.6M 2.13%
+116,250
New +$22.3M
BP icon
16
BP
BP
$113B
$24.2M 2.01%
703,309
+246,196
+54% +$8.25M
PBR.A icon
17
Petrobras Class A
PBR.A
$107B
$20.6M 1.71%
1,742,229
+17,854
+1% +$206K
BBD icon
18
Banco Bradesco
BBD
$38.1B
$19.7M 1.64%
5,842,473
+1,939,528
+50% +$5.85M
INTR icon
19
Inter&Co
INTR
$2.34B
$18.9M 1.57%
+2,050,930
New +$16.1M
GEV icon
20
GE Vernova
GEV
$270B
$17.6M 1.47%
28,700
+18,700
+187% +$11.3M
NVDA icon
21
NVIDIA
NVDA
$5.01T
$16.6M 1.38%
88,996
+41,996
+89% +$7.32M
EMBJ
22
Embraer S.A. ADS
EMBJ
$11.6B
$14M 1.16%
231,172
+32,563
+16% +$1.84M
GGB icon
23
Gerdau
GGB
$9.44B
$13.9M 1.16%
4,491,042
+1,621,938
+57% +$4.91M
ITUB icon
24
Itaú Unibanco
ITUB
$91.3B
$12.3M 1.02%
1,724,304
+907,329
+111% +$5.99M
TGS icon
25
Transportadora de Gas del Sur
TGS
$4.59B
$12.2M 1.01%
578,365
-258,777
-31% -$6.69M
1
2 3 4 5

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SPX Gestao de Recursos's Q3 2025 Portfolio in Review

As of Q3 2025, SPX Gestao de Recursos held 214 positions worth $1.2B, up 12% from $1.07B the previous quarter. Its ten largest holdings account for 51% of the portfolio.

SPX Gestao de Recursos deployed $43M of net new capital in Q3 2025, opening 97 new positions and adding to 32 existing holdings. Its largest new stake was Aura Minerals Inc: 805,922 shares worth $30M.

By sector, the portfolio is most concentrated in Materials at 18% of assets, up from 6.3% a quarter earlier, followed by Financials and Energy.

On the sell side, the largest reduction was Talen Energy Corp, an estimated $37.6M trimmed.

  • SPX Gestao de Recursos's largest Q3 2025 buy was Aura Minerals Inc: 805,922 shares worth $30M.
  • SPX Gestao de Recursos added most to Vale in Q3 2025, an estimated $85M increase.
  • SPX Gestao de Recursos's biggest Q3 2025 reduction was Talen Energy Corp, cutting an estimated $37.6M.
  • SPX Gestao de Recursos fully exited iShares Core S&P Small-Cap ETF in Q3 2025, selling an estimated $86.1M.
  • SPX Gestao de Recursos's ten largest holdings make up 51% of its $1.2B portfolio in Q3 2025.
  • SPX Gestao de Recursos opened 97 new positions and closed 54 in Q3 2025.
  • SPX Gestao de Recursos's portfolio value rose 12% quarter-over-quarter to $1.2B.

Based on SPX Gestao de Recursos's 13F filing for Q3 2025, filed 12 Nov 2025.