Absolute Gestao de Investimentos Ltda. In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Absolute Gestao de Investimentos Ltda. reported 33 stock positions worth $324.4 million . Its top holding was Pioneer Natural Resources (PXD) at 17.7% of the portfolio, followed by Tricon Residential (TCN, 10.7% ) and Arcos Dorados Class A (ARCO, 7.0% ). Compared with Q4 2023, it opened 16 new positions, sold out of 12, added to 10 and reduced 7. The biggest buy was a new position in Tricon Residential (TCN) and the biggest sale an exit from Splunk (SPLK).
Location SAO PAULO, D5
CIK 0001622610
Portfolio Value $324.4M (Q1 2024) Holdings 33 stocks · $324.4M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2023 PXD Pioneer Natural Resources Co. 218,443 $57.3M Add +2.5% TCN Tricon Residential Inc. 3,127,612 $34.9M New ARCO Arcos Dorados Holdings Inc. Class A 2,031,077 $22.6M Add +71.8% SP SP Plus Corp. 397,178 $20.7M Add +21.3% XLF SS Financial Select Sector 450,000 $19.0M New AEL American National Group Inc. 316,678 $17.8M New META Meta Platforms Inc. Class A 35,128 $17.1M Add +418.4% AMZN Amazon.com Inc. 89,999 $16.2M Reduce -16.4% SWN Southwestern Energy Co. 1,750,000 $13.3M New CPRI Capri Holdings Ltd. 287,155 $13.0M Reduce -33.3% OLK Olink Holding AB - ADR 546,684 $12.9M New MELI MercadoLibre Inc. 8,440 $12.8M Reduce -34.5% DLO Dlocal Ltd. 676,819 $9.9M Add +77.4% IWM iShares Russell 2000 ETF 38,940 $8.2M New KKR KKR & Co. Inc. 74,274 $7.5M Add +25.1% KRE SS SPDR S&P Regional Bank 143,339 $7.2M New TX Ternium SA-Sponsored ADR 130,378 $5.4M Add +63.5% PAGS Pagseguro Digital Ltd. Class A 342,824 $4.9M Reduce -64.1% JNPR Juniper Networks Inc. 130,000 $4.8M New AGRO Adecoagro SA 378,739 $4.2M New PFE Pfizer Inc. 136,400 $3.8M Add +51.6% STLA Stellantis NV 107,000 $3.0M New NWLI National Western Life Grou-A 3,548 $1.7M New IFS Intercorp Financial Services 61,541 $1.5M Add +1.7% OXY Occidental Petroleum Corp. 17,032 $1.1M Reduce -73.8% PBR Petroleo Brasileiro-Spon ADR 63,818 $971K New STNE Stoneco Ltd. Class A 38,600 $641K New VALE Vale SA-SP ADR 50,000 $610K Add +42.5% NVDA Nvidia Corp. 550 $497K New GOOGL Alphabet Inc. Class A 2,300 $347K Reduce -96.4% HOOD Robinhood Markets Inc. Class A 13,400 $270K New VINP Vinci Compass Investments LT filed as VINCI PARTNERS INVTS LTD 19,229 $217K New VTEX Vtex Class A 16,548 $135K Reduce -64.5%
Options reported separately and not counted above: ISHARES TR calls ($3.0M), ISHARES INC calls ($763K), ISHARES TR calls ($614K), ISHARES TR calls ($448K).
Other holdings (1): bonds, preferreds, convertibles and warrants · $1K (not counted above) Security Class Shares / Principal Value Change ZLSWF Zalatoris II Acquisition Cor *W EXP 99/99/999 33,333 $1K New
Total filed on the 13F, all lines: $324.4M.
Portfolio Sells Q4 2023 → Q1 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▲ SPLK Splunk Inc. Sold out 0.00% −7.66 GOOG Alphabet Inc. Class C Sold out 0.00% −5.49 CPRI Capri Holdings Ltd. Reduce -33.3% 4.01% −4.42 MELI MercadoLibre Inc. Reduce -34.5% 3.93% −3.97 SAVEQ Spirit Airlines Inc. Sold out 0.00% −3.57 GOOGL Alphabet Inc. Class A Reduce -96.4% 0.11% −3.39 PAGS Pagseguro Digital Ltd. Class A Reduce -64.1% 1.51% −3.13 EWY iShares MSCI South Korea ETF Sold out 0.00% −2.55 SCHW Schwab (charles) Corp. Sold out 0.00% −2.53 WRK Westrock Co. Sold out 0.00% −2.35 SGML Sigma Lithium Corp. Sold out 0.00% −1.76 AMZN Amazon.com Inc. Reduce -16.4% 5.00% −1.37 OXY Occidental Petroleum Corp. Reduce -73.8% 0.34% −1.17 TECK Teck Resources Ltd.-CLS B Sold out 0.00% −0.97 EMBJ Embraer SA-Spon ADR Sold out 0.00% −0.43 QQQE Dirx Nasdaq-100EQ Wi ETF-Usd Sold out 0.00% −0.39 NU Nu Holdings Ltd./Cayman Isl-A Sold out 0.00% −0.10 SNOW Snowflake Inc. Sold out 0.00% −0.09 VTEX Vtex Class A Reduce -64.5% 0.04% −0.08
Portfolio Buys Q4 2023 → Q1 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▼ TCN Tricon Residential Inc. New 10.75% +10.75 XLF SS Financial Select Sector New 5.84% +5.84 AEL American National Group Inc. New 5.49% +5.49 META Meta Platforms Inc. Class A Add +418.4% 5.26% +4.32 SWN Southwestern Energy Co. New 4.09% +4.09 OLK Olink Holding AB - ADR New 3.96% +3.96 IWM iShares Russell 2000 ETF New 2.52% +2.52 KRE SS SPDR S&P Regional Bank New 2.22% +2.22 JNPR Juniper Networks Inc. New 1.49% +1.49 AGRO Adecoagro SA New 1.29% +1.29 ARCO Arcos Dorados Holdings Inc. Class A Add +71.8% 6.96% +1.11 STLA Stellantis NV New 0.93% +0.93 NWLI National Western Life Grou-A New 0.54% +0.54 DLO Dlocal Ltd. Add +77.4% 3.07% +0.44 KKR KKR & Co. Inc. Add +25.1% 2.30% +0.39 TX Ternium SA-Sponsored ADR Add +63.5% 1.67% +0.35 PBR Petroleo Brasileiro-Spon ADR New 0.30% +0.30 STNE Stoneco Ltd. Class A New 0.20% +0.20 PFE Pfizer Inc. Add +51.6% 1.17% +0.16 NVDA Nvidia Corp. New 0.15% +0.15 HOOD Robinhood Markets Inc. Class A New 0.08% +0.08 VINP Vinci Compass Investments LT New 0.07% +0.07 VALE Vale SA-SP ADR Add +42.5% 0.19% −0.03 IFS Intercorp Financial Services Add +1.7% 0.45% −0.07 SP SP Plus Corp. Add +21.3% 6.39% −0.15 PXD Pioneer Natural Resources Co. Add +2.5% 17.67% −1.02
Options Activity Q4 2023 → Q1 2024 Security Type Change vs Q4 2023 Underlying Shares Value ▼ ISHARES TR call New 41,986 $3.0M STATE STR SPDR DOW JONES IND call Sold out 17,420 $1.7Mbefore exit ARK ETF TR call Sold out 15,100 $1.3Mbefore exit VANECK ETF TRUST call Sold out 16,600 $788Kbefore exit ISHARES INC call New 20,500 $763K ISHARES TR call Reduce -55.4% 48,000 $614K JPMORGAN CHASE & CO call Sold out 1,000 $610Kbefore exit ISHARES TR call New 14,000 $448K GOLDMAN SACHS GROUP INC call Sold out 1,200 $310Kbefore exit XP INC put Sold out 4,400 $232Kbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2023 → Q1 2024 Security Class Change vs Q4 2023 Shares / Principal Value ▼ ZLSWF Zalatoris II Acquisition Cor *W EXP 99/99/999 New 33,333 $1K
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 34 $362.7M EA, WBS, NUVL, PBR.A, APGE Q1 2026 70 $875.3M EEM, EFA, HOLX, EA, PBR.A Q4 2025 41 $953.4M GTLS, CYBR, EA, DAY, EFA Q3 2025 35 $756.9M CYBR, EEM, GTLS, EWZ, EMXC Q2 2025 52 $307.5M EEM, JNPR, FYBR, COOP, ALE Q1 2025 37 $227.8M JNPR, FYBR, ALE, K, BABA Q4 2024 39 $235.3M HCP, GOOG, JNPR, FYBR, ALE Q3 2024 34 $294.5M HCP, AGR, AXONICS INC, STNE, SWN Q2 2024 28 $191.7M SWN, AXONICS INC, NVEI, ARCO, OLK Q1 2024 33 $324.4M PXD, TCN, ARCO, SP, XLF