Kapitalo Investimentos Ltda Hedge Fund

Location: Sao Paulo, Brazil

CIK: 0001798686 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Jan 28, 2026

Total Value: $523M (100.0% shares, 0.0% debt)

Holdings (37)

AMZN AMAZON COM INC 25.0%

Value $130M Shares 564,866 Share Price $230.82 Est. Cost/Share $218.98 Unrealized @ Report Date +5.4%

KWEB KRANESHARES TRUST 11.3%

Value $59.04M Shares 1,734,000 Share Price $34.05 Est. Cost/Share $34.57 Unrealized @ Report Date -1.5%

KRE SPDR SERIES TRUST 10.0%

Value $52.03M Shares 802,873 Share Price $64.81 Est. Cost/Share $63.05 Unrealized @ Report Date +2.8%

META META PLATFORMS INC 7.2%

Value $37.39M Shares 56,642 Share Price $660.09 Est. Cost/Share $666.28 Unrealized @ Report Date -0.9%

MSFT MICROSOFT CORP 6.6%

Value $34.53M Shares 71,402 Share Price $483.62 Est. Cost/Share $501.83 Unrealized @ Report Date -3.6%

KVUE KENVUE INC 6.6%

Value $34.5M Shares 2,000,000 Share Price $17.25 Est. Cost/Share $19.30 Unrealized @ Report Date -10.6%

ERO ERO COPPER CORP 5.8%

Value $30.46M Shares 1,076,696 Share Price $28.29 Est. Cost/Share $15.73 Unrealized @ Report Date +79.9%

EA ELECTRONIC ARTS INC 3.8%

Value $19.63M Shares 96,054 Share Price $204.33 Est. Cost/Share $201.71 Unrealized @ Report Date +1.3%

VST VISTRA CORP 3.2%

Value $16.94M Shares 105,000 Share Price $161.33 Est. Cost/Share $181.92 Unrealized @ Report Date -11.3%

TECK TECK RESOURCES LTD 2.8%

Value $14.5M Shares 302,859 Share Price $47.89 Est. Cost/Share $41.48 Unrealized @ Report Date +15.4%

RIO RIO TINTO PLC 2.0%

Value $10.22M Shares 127,754 Share Price $80.03 Est. Cost/Share $63.99 Unrealized @ Report Date +25.1%

YPF YPF SOCIEDAD ANONIMA 1.8%

Value $9.295M Shares 257,042 Share Price $36.16 Est. Cost/Share $30.71 Unrealized @ Report Date +17.7%

SUZ SUZANO S A 1.4%

Value $7.327M Shares 784,450 Share Price $9.34 Est. Cost/Share $9.27 Unrealized @ Report Date +0.8%

EXAS EXACT SCIENCES CORP 1.3%

Value $6.543M Shares 64,428 Share Price $101.56 Est. Cost/Share $80.31 Unrealized @ Report Date +26.5%

EMBJ EMBRAER S.A. 1.2%

Value $6.397M Shares 99,372 Share Price $64.37 Est. Cost/Share $55.34 Unrealized @ Report Date +16.3%

LOMA LOMA NEGRA C I A S A MTN 14 0.9%

Value $4.932M Shares 380,833 Share Price $12.95 Est. Cost/Share $11.40 Unrealized @ Report Date +13.5%

EVEX EVE HLDG INC 0.8%

Value $4.389M Shares 1,100,000 Share Price $3.99 Est. Cost/Share $6.83 Unrealized @ Report Date -41.6%

VIV TELEFONICA BRASIL SA 0.8%

Value $4.211M Shares 355,066 Share Price $11.86 Est. Cost/Share $12.41 Unrealized @ Report Date -4.4%

V VISA INC 0.7%

Value $3.761M Shares 10,725 Share Price $350.71 Est. Cost/Share $345.14 Unrealized @ Report Date +1.6%

DIS DISNEY WALT CO 0.7%

Value $3.734M Shares 32,820 Share Price $113.77 Est. Cost/Share $108.81 Unrealized @ Report Date +4.6%

Value $3.694M Shares 225,664 Share Price $16.37 Est. Cost/Share $41.35 Unrealized @ Report Date -60.4%

MA MASTERCARD INCORPORATED 0.7%

Value $3.519M Shares 6,165 Share Price $570.88 Est. Cost/Share $558.95 Unrealized @ Report Date +2.1%

UGP ULTRAPAR PARTICIPACOES SA 0.6%

Value $3.298M Shares 874,882 Share Price $3.77 Est. Cost/Share $3.83 Unrealized @ Report Date -1.6%

TGNA TEGNA INC 0.6%

Value $3.274M Shares 168,689 Share Price $19.41 Est. Cost/Share $19.76 Unrealized @ Report Date 0.0%

FXI ISHARES TR 0.6%

Value $2.976M Shares 77,718 Share Price $38.29 Est. Cost/Share $33.85 Unrealized @ Report Date +13.1%

UNH UNITEDHEALTH GROUP INC 0.6%

Value $2.914M Shares 8,826 Share Price $330.11 Est. Cost/Share $298.94 Unrealized @ Report Date +10.4%

TEAM ATLASSIAN CORPORATION 0.5%

Value $2.568M Shares 15,840 Share Price $162.14 Est. Cost/Share $180.93 Unrealized @ Report Date -10.4%

— DAYFORCE INC 0.5%

Value $2.375M Shares 34,337 Share Price $69.16 Est. Cost/Share $68.83 Unrealized @ Report Date +0.5%

TXNM TXNM ENERGY INC 0.5%

Value $2.354M Shares 39,978 Share Price $58.88 Est. Cost/Share $57.71 Unrealized @ Report Date +2.0%

TSM TAIWAN SEMICONDUCTOR MFG LTD 0.4%

Value $2.329M Shares 7,664 Share Price $303.89 Est. Cost/Share $194.34 Unrealized @ Report Date +56.4%

ABEV AMBEV SA 0.3%

Value $1.598M Shares 647,014 Share Price $2.47 Est. Cost/Share $2.33 Unrealized @ Report Date +5.8%

AXIA CENTRAIS ELET BRAS SA 0.1%

Value $695K Shares 75,855 Share Price $9.16 Est. Cost/Share $7.10 Unrealized @ Report Date —

ZM ZOOM COMMUNICATIONS INC 0.0%

Value $253K Shares 2,931 Share Price $86.29 Est. Cost/Share $84.17 Unrealized @ Report Date +2.5%

GGAL GRUPO FINANCIERO GALICIA S.A 0.0%

Value $203K Shares 3,763 Share Price $53.94 Est. Cost/Share $27.56 Unrealized @ Report Date —

SID COMPANHIA SIDERURGICA NACION 0.0%

Value $90,846 Shares 56,779 Share Price $1.60 Est. Cost/Share $1.55 Unrealized @ Report Date +3.0%

PLTR PALANTIR TECHNOLOGIES INC 0.0%

Value $74,000 Shares 200,000 Share Price $0.37 Est. Cost/Share — Unrealized @ Report Date —

EWZ ISHARES INC 0.0%

Value $72,000 Shares 900,000 Share Price $0.08 Est. Cost/Share — Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
AMZN	AMAZON COM INC	564,866	$130M	25.0%	$230.82	$218.98	+5.4%	COM	023135106
KWEB	KRANESHARES TRUST	1,734,000	$59.04M	11.3%	$34.05	$34.57	-1.5%	CSI CHI INTERNET	500767306
KRE	SPDR SERIES TRUST	802,873	$52.03M	10.0%	$64.81	$63.05	+2.8%	STATE STREET SPD	78464A698
META	META PLATFORMS INC	56,642	$37.39M	7.2%	$660.09	$666.28	-0.9%	CL A	30303M102
MSFT	MICROSOFT CORP	71,402	$34.53M	6.6%	$483.62	$501.83	-3.6%	COM	594918104
KVUE	KENVUE INC	2,000,000	$34.5M	6.6%	$17.25	$19.30	-10.6%	COM	49177J102
ERO	ERO COPPER CORP	1,076,696	$30.46M	5.8%	$28.29	$15.73	+79.9%	COM	296006109
EA	ELECTRONIC ARTS INC	96,054	$19.63M	3.8%	$204.33	$201.71	+1.3%	COM	285512109
VST	VISTRA CORP	105,000	$16.94M	3.2%	$161.33	$181.92	-11.3%	COM	92840M102
TECK	TECK RESOURCES LTD	302,859	$14.5M	2.8%	$47.89	$41.48	+15.4%	CL B	878742204
RIO	RIO TINTO PLC	127,754	$10.22M	2.0%	$80.03	$63.99	+25.1%	SPONSORED ADR	767204100
YPF	YPF SOCIEDAD ANONIMA	257,042	$9.295M	1.8%	$36.16	$30.71	+17.7%	SPON ADR CL D	984245100
SUZ	SUZANO S A	784,450	$7.327M	1.4%	$9.34	$9.27	+0.8%	SPON ADS	86959K105
EXAS	EXACT SCIENCES CORP	64,428	$6.543M	1.3%	$101.56	$80.31	+26.5%	COM	30063P105
EMBJ	EMBRAER S.A.	99,372	$6.397M	1.2%	$64.37	$55.34	+16.3%	SPONSORED ADS	29082A107
LOMA	LOMA NEGRA C I A S A MTN 14	380,833	$4.932M	0.9%	$12.95	$11.40	+13.5%	SPONSORED ADS	54150E104
EVEX	EVE HLDG INC	1,100,000	$4.389M	0.8%	$3.99	$6.83	-41.6%	COM	29970N104
VIV	TELEFONICA BRASIL SA	355,066	$4.211M	0.8%	$11.86	$12.41	-4.4%	SPONSORED ADS	87936R205
V	VISA INC	10,725	$3.761M	0.7%	$350.71	$345.14	+1.6%	COM CL A	92826C839
DIS	DISNEY WALT CO	32,820	$3.734M	0.7%	$113.77	$108.81	+4.6%	COM	254687106
XP	XP INC	225,664	$3.694M	0.7%	$16.37	$41.35	-60.4%	CL A	G98239109
MA	MASTERCARD INCORPORATED	6,165	$3.519M	0.7%	$570.88	$558.95	+2.1%	CL A	57636Q104
UGP	ULTRAPAR PARTICIPACOES SA	874,882	$3.298M	0.6%	$3.77	$3.83	-1.6%	SP ADR REP COM	90400P101
TGNA	TEGNA INC	168,689	$3.274M	0.6%	$19.41	$19.76	0.0%	COM	87901J105
FXI	ISHARES TR	77,718	$2.976M	0.6%	$38.29	$33.85	+13.1%	CHINA LG-CAP ETF	464287184
UNH	UNITEDHEALTH GROUP INC	8,826	$2.914M	0.6%	$330.11	$298.94	+10.4%	COM	91324P102
TEAM	ATLASSIAN CORPORATION	15,840	$2.568M	0.5%	$162.14	$180.93	-10.4%	CL A	049468101
—	DAYFORCE INC	34,337	$2.375M	0.5%	$69.16	$68.83	+0.5%	COM	15677J108
TXNM	TXNM ENERGY INC	39,978	$2.354M	0.5%	$58.88	$57.71	+2.0%	COM	69349H107
TSM	TAIWAN SEMICONDUCTOR MFG LTD	7,664	$2.329M	0.4%	$303.89	$194.34	+56.4%	SPONSORED ADS	874039100
ABEV	AMBEV SA	647,014	$1.598M	0.3%	$2.47	$2.33	+5.8%	SPONSORED ADR	02319V103
AXIA	CENTRAIS ELET BRAS SA	75,855	$695K	0.1%	$9.16	$7.10	—	SPONSORED ADR	15234Q207
ZM	ZOOM COMMUNICATIONS INC	2,931	$253K	0.0%	$86.29	$84.17	+2.5%	CL A	98980L101
GGAL	GRUPO FINANCIERO GALICIA S.A	3,763	$203K	0.0%	$53.94	$27.56	—	SPONSORED ADR	399909100
SID	COMPANHIA SIDERURGICA NACION	56,779	$90,846	0.0%	$1.60	$1.55	+3.0%	SPONSORED ADR	20440W105
PLTR	PALANTIR TECHNOLOGIES INC	200,000	$74,000	0.0%	$0.37	—	—	Call	69608A108
EWZ	ISHARES INC	900,000	$72,000	0.0%	$0.08	—	—	Call	464286400