2026 Q1 Portfolio Activity
In 2026 Q1, SPX Gestao de Recursos Ltda maintained a portfolio of 99 distinct positions. The most significant new addition was STATE STREET CONSUMER STAPLES, now representing 9.98% of the total fund value. They heavily accumulated shares in PETROLEO BRASILEIRO SA PETRO, increasing the position by 486.1%. Conversely, SPX Gestao de Recursos Ltda completely exited their position in KRANESHARES CSI CHINA.
Position History
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Total Positions
99
Quarter
2026 Q1
Top Holding
PBR/A (10.7%)
Top 10 Concentration
60.5%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 99
SPX Gestao de Recursos Ltda Full Holdings List — 2026 Q1
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
PBR/A
PETROLEO BRASIL...
|
Energy | 10.70% | 1.35% |
#1
18
Prev: #19
|
9.0 |
—
|
5,701,654 | 486.1% |
P
S
|
6,874,705 | $128,900,719 | 2018 Q3 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
XLP
STATE STREET CO...
|
Unknown | 9.98% | — |
#2
Prev: #—
|
9.0 |
—
|
1,466,111 | — |
NEW
|
1,466,111 | $120,191,780 | 2023 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
STNE
STONECO LTD-A
|
Technology | 9.06% | 7.91% |
#3
2
Prev: #1
|
7.1 |
—
|
2,491,394 | 47.6% |
P
S
|
7,728,014 | $109,119,558 | 2022 Q3 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
VALE
VALE SA SP ADR
|
Basic Materials | 7.32% | 0.53% |
#4
27
Prev: #31
|
6.4 |
—
|
5,144,590 | 1302.4% |
P
S
|
5,539,608 | $88,135,163 | 2018 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
MCHI
ISHARES MSCI CH...
|
ETF | 4.53% | — |
#5
Prev: #—
|
5.8 |
—
|
972,000 | — |
NEW
|
972,000 | $54,606,960 | 2020 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
VINP
VINCI COMPASS I...
|
Financial Services | 4.09% | 5.33% |
#6
3
Prev: #9
|
3.6 |
—
|
671,448 | 16.8% |
P
S
|
4,672,173 | $49,291,425 | 2023 Q2 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
ARCO
ARCOS DORADOS H...
|
Consumer Cyclical | 4.08% | 5.66% |
#7
Prev: #7
|
1.6 |
—
|
-1,602,390 | -21.2% |
P
S
|
5,949,286 | $49,081,610 | 2018 Q3 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
NVDA
NVIDIA CORP
|
Technology | 3.81% | 0.28% |
#8
32
Prev: #40
|
4.5 |
—
|
248,700 | 1715.2% |
P
S
|
263,200 | $45,902,080 | 2023 Q3 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
LTM
LATAM AIRLINES ...
|
Industrials | 3.62% | 1.81% |
#9
9
Prev: #18
|
4.4 |
—
|
553,513 | 168.5% |
P
S
|
881,976 | $43,604,893 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
BBD
BANCO BRADESCO
|
Preferred | 3.35% | 1.17% |
#10
11
Prev: #21
|
4.3 |
—
|
7,614,725 | 221.5% |
P
S
|
11,051,974 | $40,339,705 | 2018 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
NU
NU HOLDINGS LTD...
|
Financial Services | 3.07% | — |
#11
Prev: #—
|
4.7 |
—
|
2,569,755 | — |
NEW
|
2,569,755 | $36,927,379 | 2022 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
PBR
PETROLEO BRASIL...
|
Energy | 2.99% | 5.92% |
#12
8
Prev: #4
|
1.2 |
—
|
-3,154,716 | -64.5% |
P
S
|
1,732,842 | $35,956,472 | 2018 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
TGS
TRANSPORT GAS S...
|
Energy | 2.95% | 3.83% |
#13
1
Prev: #12
|
1.7 |
—
|
-181,667 | -15.1% |
P
S
|
1,025,136 | $35,479,957 | 2024 Q2 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
INTR
INTER & CO INC ...
|
Financial Services | 2.66% | 0.30% |
#14
24
Prev: #38
|
4.1 |
—
|
3,676,696 | 1059.2% |
P
S
|
4,023,802 | $32,029,464 | 2022 Q3 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
CPA
COPA HOLDINGS S...
|
Industrials | 2.12% | 4.85% |
#15
5
Prev: #10
|
0.8 |
—
|
-168,750 | -42.9% |
P
S
|
224,792 | $25,538,619 | 2019 Q3 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
BAP
CREDICORP
|
Financial Services | 1.90% | 5.84% |
#16
11
Prev: #5
|
0.8 |
—
|
-131,680 | -66.1% |
P
S
|
67,403 | $22,861,750 | 2019 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
XP
XP INC - CLASS ...
|
Financial Services | 1.88% | 7.02% |
#17
14
Prev: #3
|
0.8 |
—
|
-3,008,306 | -71.7% |
P
S
|
1,187,073 | $22,601,870 | 2019 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
ERJ
EMBRAER SA
|
Unknown | 1.74% | — |
#18
Prev: #—
|
4.2 |
—
|
353,289 | — |
NEW
|
353,289 | $20,964,169 | 2019 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
TSM
TAIWAN SEMI ADR
|
Technology | 1.66% | — |
#19
Prev: #—
|
4.2 |
—
|
59,271 | — |
NEW
|
59,271 | $20,030,634 | 2021 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
EWZ
ISHARES MSCI BR...
|
ETF | 1.57% | — |
#20
Prev: #—
|
4.1 |
—
|
493,168 | — |
NEW
|
493,168 | $18,932,720 | 2018 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
BP
BP PLC
|
Energy | 1.38% | 1.86% |
#21
5
Prev: #16
|
0.6 |
—
|
-168,886 | -32.3% |
P
S
|
354,344 | $16,654,168 | 2019 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
GGB
GERDAU SA
|
Preferred | 1.28% | 1.84% |
#22
5
Prev: #17
|
1.0 |
—
|
-640,273 | -13.1% |
P
S
|
4,254,223 | $15,357,745 | 2018 Q3 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
PAM
PAMPA ENERGIA S...
|
Industrials | 1.20% | — |
#23
Prev: #—
|
4.0 |
—
|
163,643 | — |
NEW
|
163,643 | $14,482,406 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
AMZN
AMAZON.COM INC
|
Consumer Cyclical | 1.08% | 0.77% |
#24
3
Prev: #27
|
3.4 |
—
|
30,180 | 93.0% |
P
S
|
62,640 | $13,046,033 | 2021 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
SN
SHARKNINJA INC
|
Consumer Cyclical | 0.92% | 1.19% |
#25
5
Prev: #20
|
1.4 |
—
|
no change | no change |
P
S
|
104,170 | $11,031,603 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
ELPC
CIA PARANAENSE ...
|
Utilities | 0.89% | 0.89% |
#26
2
Prev: #24
|
0.9 |
—
|
-16,018 | -1.7% |
P
S
|
902,109 | $10,771,181 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
AA
ALCOA CORP
|
Basic Materials | 0.86% | — |
#27
Prev: #—
|
3.8 |
—
|
155,300 | — |
NEW
|
155,300 | $10,301,049 | 2021 Q3 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
TEO
TELECOM ARGENTI...
|
Communication Services | 0.71% | — |
#28
Prev: #—
|
3.8 |
—
|
732,697 | — |
NEW
|
732,697 | $8,565,228 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
CPAY
CORPAY INC
|
Technology | 0.71% | 0.90% |
#29
6
Prev: #23
|
1.3 |
—
|
no change | no change |
P
S
|
29,260 | $8,514,367 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
AXIA-PC
AXIA ENERGIA SA
|
Utilities | 0.61% | 0.60% |
#30
1
Prev: #29
|
0.7 |
—
|
-11,056 | -1.6% |
P
S
|
669,035 | $7,305,862 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
OIH
VANECK OIL SERV...
|
ETF | 0.55% | — |
#31
Prev: #—
|
3.7 |
—
|
16,500 | — |
NEW
|
16,500 | $6,669,465 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
CEPU
CENTRAL PUERTO-...
|
Utilities | 0.51% | — |
#32
Prev: #—
|
3.7 |
—
|
361,495 | — |
NEW
|
361,495 | $6,083,961 | 2018 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
EVEX
EVE HOLDING INC
|
Industrials | 0.47% | 1.16% |
#33
11
Prev: #22
|
0.7 |
—
|
-552,062 | -19.4% |
P
S
|
2,293,630 | $5,688,202 | 2022 Q2 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
GRND
GRINDR INC
|
Technology | 0.46% | 0.56% |
#34
4
Prev: #30
|
2.2 |
—
|
54,000 | 13.4% |
P
S
|
455,800 | $5,510,622 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
SBS
BASIC SANITATIO...
|
Utilities | 0.45% | 0.85% |
#35
9
Prev: #26
|
0.2 |
—
|
-170,102 | -48.9% |
P
S
|
177,950 | $5,429,255 | 2018 Q3 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
SHEL
SHELL PLC-ADR
|
Energy | 0.40% | — |
#36
Prev: #—
|
3.7 |
—
|
52,300 | — |
NEW
|
52,300 | $4,863,900 | 2022 Q2 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
META
META PLATFORMS ...
|
Communication Services | 0.40% | 0.30% |
#37
Prev: #37
|
3.2 |
—
|
4,020 | 90.1% |
P
S
|
8,480 | $4,851,662 | 2020 Q3 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
RIO
RIO TINTO PLC
|
Basic Materials | 0.38% | 3.83% |
#38
25
Prev: #13
|
0.2 |
—
|
-419,765 | -89.6% |
P
S
|
48,650 | $4,538,559 | 2019 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
OWL
BLUE OWL CAPITA...
|
Financial Services | 0.37% | 0.75% |
#39
11
Prev: #28
|
1.1 |
—
|
no change | no change |
P
S
|
489,660 | $4,470,596 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
LUXE
LUXEXPERIENCE B...
|
ETF | 0.35% | 0.45% |
#40
8
Prev: #32
|
1.1 |
—
|
no change | no change |
P
S
|
523,410 | $4,187,280 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
CEPT
CANTOR EQUITY P...
|
Financial Services | 0.28% | 0.35% |
#41
7
Prev: #34
|
1.1 |
—
|
no change | no change |
P
S
|
305,000 | $3,321,450 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
CTLP
CANTALOUPE INC
|
Technology | 0.27% | 0.32% |
#42
7
Prev: #35
|
1.1 |
—
|
no change | no change |
P
S
|
298,600 | $3,227,866 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
CORZ
CORE SCIENTIFIC...
|
Technology | 0.26% | 0.16% |
#43
2
Prev: #45
|
3.1 |
—
|
100,550 | 95.9% |
P
S
|
205,350 | $3,072,036 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
UGP
ULTRAPAR PARTIC...
|
Energy | 0.24% | 0.22% |
#44
2
Prev: #42
|
0.6 |
—
|
-63,459 | -10.9% |
P
S
|
519,126 | $2,860,384 | 2018 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
TLN
TALEN ENERGY CO...
|
Utilities | 0.20% | 0.36% |
#45
12
Prev: #33
|
0.1 |
—
|
-2,000 | -21.1% |
P
S
|
7,490 | $2,391,033 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
N/A
PUT
PUT - EEM 100 @...
|
|
PUT Option | 0.19% | — |
#46
Prev: #—
|
3.6 |
—
|
17,000 | — |
NEW
|
17,000 | $2,302,140 | — | 13F Filing | 2026-03-31 | 2026-05-06 | ||
|
SOLS
SOLSTICE ADVANC...
|
Basic Materials | 0.19% | — |
#47
Prev: #—
|
3.6 |
—
|
29,600 | — |
NEW
|
29,600 | $2,254,336 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
PGY
PAGAYA TECHNOLO...
|
Technology | 0.17% | 0.26% |
#48
7
Prev: #41
|
2.6 |
—
|
59,800 | 49.7% |
P
S
|
180,100 | $2,098,165 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
TDG
TRANSDIGM GROUP...
|
Industrials | 0.17% | 0.19% |
#49
5
Prev: #44
|
2.6 |
—
|
380 | 27.1% |
P
S
|
1,780 | $2,062,949 | 2020 Q3 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
BSAC
BANCO SANTANDER...
|
Financial Services | 0.16% | — |
#50
Prev: #—
|
3.6 |
—
|
56,479 | — |
NEW
|
56,479 | $1,886,399 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 |
Showing 1-50 of 99 holdings