AI Portfolio Summary
In 2025 Q4, SPX Gestao de Recursos Ltda maintained a portfolio of 178 distinct positions. The most significant new addition to the portfolio was KRANESHARES CSI CHIN, which now represents 7.22% of the total fund value. They heavily accumulated shares in STONECO LTD-A, increasing their position by 1054.8%. The fund also reduced its exposure to VALE SA SP ADR by 96.4%.
Total Positions
178
Quarter
2025 Q4
Top Holding
STNE (7.9%)
Top 10 Concentration
60.9%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 178
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
STNE
STONECO LTD-A
|
Technology | 7.91% | 0.71% |
#1
28
Prev: #29
|
8.2 | 4,783,158 | 1054.8% |
P
S
|
5,236,620 | $77,449,610 | 2022 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
KWEB
KRANESHARES CSI...
|
Bond/Debt | 7.22% | — |
#2
Prev: #—
|
7.9 | 2,075,400 | no change |
NEW
|
2,075,400 | $70,667,370 | 2020 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
XP
XP INC - CLASS ...
|
Financial Services | 7.02% | 3.12% |
#3
8
Prev: #11
|
6.8 | 2,195,087 | 109.7% |
P
S
|
4,195,379 | $68,678,354 | 2019 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
PBR
PETROLEO BRASIL...
|
Energy | 5.92% | 8.33% |
#4
2
Prev: #2
|
2.9 | -3,029,424 | -38.3% |
P
S
|
4,887,558 | $57,917,562 | 2018 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BAP
CREDICORP
|
Financial Services | 5.84% | 2.85% |
#5
7
Prev: #12
|
5.8 | 70,491 | 54.8% |
P
S
|
199,083 | $57,136,821 | 2019 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SPY
STATE STREET SP...
|
ETF | 5.67% | — |
#6
Prev: #—
|
5.8 | 81,424 | no change |
NEW
|
81,424 | $55,524,654 | 2018 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
ARCO
ARCOS DORADOS H...
|
Consumer Cyclical | 5.66% | 3.56% |
#7
Prev: #7
|
4.3 | 1,209,055 | 19.1% |
P
S
|
7,551,676 | $55,429,302 | 2018 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
FSLR
FIRST SOLAR INC
|
Technology | 5.45% | 2.13% |
#8
7
Prev: #15
|
5.2 | 88,000 | 75.7% |
P
S
|
204,250 | $53,356,228 | 2023 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
VINP
VINCI COMPASS I...
|
Financial Services | 5.33% | 3.61% |
#9
3
Prev: #6
|
2.6 | -37,671 | -0.9% |
P
S
|
4,000,725 | $52,169,454 | 2023 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CPA
COPA HOLDINGS S...
|
Industrials | 4.85% | 4.02% |
#10
5
Prev: #5
|
2.4 | -13,100 | -3.2% |
P
S
|
393,542 | $47,465,101 | 2019 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
ORAAF
AURA MINERALS I...
|
Unknown | 4.52% | 2.49% |
#11
2
Prev: #13
|
3.8 | 71,289 | 8.8% |
P
S
|
877,211 | $44,224,593 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
TGS
TRANSPORT GAS S...
|
Energy | 3.83% | 1.01% |
#12
13
Prev: #25
|
4.5 | 628,438 | 108.7% |
P
S
|
1,206,803 | $37,519,505 | 2024 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
RIO
RIO TINTO PLC
|
Basic Materials | 3.83% | 3.55% |
#13
5
Prev: #8
|
1.5 | -178,451 | -27.6% |
P
S
|
468,415 | $37,487,252 | 2019 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
MU
MICRON TECHNOLO...
|
Technology | 2.62% | 0.28% |
#14
33
Prev: #47
|
4.0 | 70,000 | 350.0% |
P
S
|
90,000 | $25,686,900 | 2020 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BABA
ALIBABA GROUP H...
|
Consumer Cyclical | 2.25% | 0.50% |
#15
24
Prev: #39
|
3.9 | 116,500 | 347.8% |
P
S
|
150,000 | $21,987,000 | 2020 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BP
BP PLC
|
Energy | 1.86% | 2.01% |
#16
Prev: #16
|
0.7 | -180,079 | -25.6% |
P
S
|
523,230 | $18,171,778 | 2019 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
GGB
GERDAU SA
|
Preferred | 1.84% | 1.16% |
#17
6
Prev: #23
|
2.7 | 403,454 | 9.0% |
P
S
|
4,894,496 | $18,060,690 | 2018 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
LTM
LATAM AIRLINES ...
|
Industrials | 1.81% | 3.52% |
#18
9
Prev: #9
|
0.7 | -606,858 | -64.9% |
P
S
|
328,463 | $17,740,287 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
PBR/A
PETROLEO BRASIL...
|
Energy | 1.35% | 1.71% |
#19
2
Prev: #17
|
0.5 | -569,178 | -32.7% |
P
S
|
1,173,051 | $13,220,285 | 2018 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SN
SHARKNINJA INC
|
Consumer Cyclical | 1.19% | 0.78% |
#20
8
Prev: #28
|
2.5 | 13,500 | 14.9% |
P
S
|
104,170 | $11,656,623 | 2025 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BBD
BANCO BRADESCO
|
Preferred | 1.17% | 1.64% |
#21
3
Prev: #18
|
0.5 | -2,405,224 | -41.2% |
P
S
|
3,437,249 | $11,446,039 | 2018 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
EVEX
EVE HOLDING INC
|
Industrials | 1.16% | 0.19% |
#22
39
Prev: #61
|
3.5 | 2,256,701 | 383.1% |
P
S
|
2,845,692 | $11,354,311 | 2022 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CPAY
CORPAY INC
|
Technology | 0.90% | 0.48% |
#23
17
Prev: #40
|
2.9 | 9,300 | 46.6% |
P
S
|
29,260 | $8,805,212 | 2025 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
ELPC
CIA PARANAENSE ...
|
Utilities | 0.89% | 0.05% |
#24
93
Prev: #117
|
3.4 | 847,198 | 1194.4% |
P
S
|
918,127 | $8,731,388 | 2023 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
GLOB
GLOBANT SA
|
Technology | 0.89% | — |
#25
Prev: #—
|
3.9 | 133,160 | no change |
NEW
|
133,160 | $8,704,669 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SBS
BASIC SANITATIO...
|
Utilities | 0.85% | 0.44% |
#26
16
Prev: #42
|
3.3 | 137,536 | 65.3% |
P
S
|
348,052 | $8,301,040 | 2018 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
AMZN
AMAZON.COM INC
|
Consumer Cyclical | 0.77% | 0.60% |
#27
7
Prev: #34
|
0.8 | -420 | -1.3% |
P
S
|
32,460 | $7,492,417 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
OWL
BLUE OWL CAPITA...
|
Financial Services | 0.75% | 0.54% |
#28
10
Prev: #38
|
2.8 | 108,300 | 28.4% |
P
S
|
489,660 | $7,315,520 | 2025 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
AXIA-PC
AXIA ENERGIA-AD...
|
Utilities | 0.60% | — |
#29
Prev: #—
|
3.7 | 680,091 | no change |
NEW
|
680,091 | $5,862,384 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
GRND
GRINDR INC
|
Technology | 0.56% | 0.22% |
#30
27
Prev: #57
|
3.2 | 224,500 | 126.6% |
P
S
|
401,800 | $5,440,372 | 2025 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
VALE
VALE SA SP ADR
|
Basic Materials | 0.53% | 9.99% |
#31
30
Prev: #1
|
0.2 | -10,673,385 | -96.4% |
P
S
|
395,018 | $5,147,085 | 2018 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
LUXE
LUXEXPERIENCE B...
|
ETF | 0.45% | 0.26% |
#32
17
Prev: #49
|
2.7 | 149,500 | 40.0% |
P
S
|
523,410 | $4,370,474 | 2025 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
TLN
TALEN ENERGY CO...
|
Utilities | 0.36% | 2.36% |
#33
19
Prev: #14
|
0.1 | -57,140 | -85.8% |
P
S
|
9,490 | $3,557,232 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CEPT
CANTOR EQUITY P...
|
Financial Services | 0.35% | — |
#34
Prev: #—
|
3.6 | 305,000 | no change |
NEW
|
305,000 | $3,434,300 | 2025 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CTLP
CANTALOUPE INC
|
Technology | 0.32% | 0.26% |
#35
15
Prev: #50
|
1.1 | no change | no change |
P
S
|
298,600 | $3,171,132 | 2025 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
JBS NV-A
|
—
|
Unknown | 0.31% | 0.05% |
#36
83
Prev: #119
|
3.1 | 168,819 | 429.8% |
P
S
|
208,100 | $3,000,802 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
META
META PLATFORMS ...
|
Communication Services | 0.30% | 0.67% |
#37
6
Prev: #31
|
0.1 | -6,570 | -59.6% |
P
S
|
4,460 | $2,944,001 | 2020 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
INTR
INTER & CO INC ...
|
Financial Services | 0.30% | 1.57% |
#38
19
Prev: #19
|
0.1 | -1,703,824 | -83.1% |
P
S
|
347,106 | $2,943,459 | 2022 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
AFYA
AFYA LTD-CLASS ...
|
Consumer Defensive | 0.28% | 0.24% |
#39
13
Prev: #52
|
0.6 | -8,685 | -4.7% |
P
S
|
176,892 | $2,725,906 | 2022 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
NVDA
NVIDIA CORP
|
Technology | 0.28% | 1.38% |
#40
19
Prev: #21
|
0.1 | -74,496 | -83.7% |
P
S
|
14,500 | $2,704,250 | 2023 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
PGY
PAGAYA TECHNOLO...
|
Technology | 0.26% | 0.12% |
#41
39
Prev: #80
|
3.1 | 70,300 | 140.6% |
P
S
|
120,300 | $2,514,270 | 2025 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
UGP
ULTRAPAR PARTIC...
|
Energy | 0.22% | 0.01% |
#42
102
Prev: #144
|
3.1 | 561,116 | 2613.6% |
P
S
|
582,585 | $2,196,345 | 2018 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
XOP
STATE STREET SP...
|
Unknown | 0.19% | 0.15% |
#43
26
Prev: #69
|
2.1 | 1,000 | 7.1% |
P
S
|
15,000 | $1,893,900 | 2021 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
TDG
TRANSDIGM GROUP...
|
Industrials | 0.19% | 0.15% |
#44
26
Prev: #70
|
1.1 | no change | no change |
P
S
|
1,400 | $1,861,790 | 2020 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CORZ
CORE SCIENTIFIC...
|
Technology | 0.16% | — |
#45
Prev: #—
|
3.6 | 104,800 | no change |
NEW
|
104,800 | $1,525,888 | 2025 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
NYAX
NAYAX LTD
|
Technology | 0.12% | 0.08% |
#46
58
Prev: #104
|
2.5 | 4,849 | 25.4% |
P
S
|
23,958 | $1,212,275 | 2025 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SUZ
SUZANO SA
|
Basic Materials | 0.11% | 0.11% |
#47
37
Prev: #84
|
0.5 | -28,249 | -19.6% |
P
S
|
115,964 | $1,083,104 | 2020 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
FXI
ISHARE CHINA LA...
|
ETF | 0.10% | 0.09% |
#48
50
Prev: #98
|
1.0 | no change | no change |
P
S
|
25,370 | $971,417 | 2019 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
AMD
ADVANCED MICRO ...
|
Technology | 0.10% | 0.09% |
#49
47
Prev: #96
|
0.0 | -2,000 | -30.8% |
P
S
|
4,500 | $963,720 | 2025 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
PUT
PUT - GLD 100 @...
|
—
|
PUT Option | 0.09% | — |
#50
Prev: #—
|
3.5 | 2,183 | no change |
NEW
|
2,183 | $848,226 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) |
Showing 1-50 of 178 holdings