Absolute Gestao de Investimentos Ltda.

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Absolute Gestao de Investimentos Ltda. reported 37 stock positions worth $227.8 million. Its top holding was Juniper Networks (JNPR) at 25.6% of the portfolio, followed by Frontier Communications Pare (FYBR, 20.2%) and Allete (ALE, 11.2%). Compared with Q4 2024, it opened 20 new positions, sold out of 22, added to 13 and reduced 4. The biggest buy was Juniper Networks (JNPR, shares +119%) and the biggest sale an exit from Hashicorp Class A (HCP).

Most Recent 13F
Q2 2026
Location
SAO PAULO, D5
CIK
0001622610
Portfolio Value
$227.8M (Q1 2025)
SEC Filing
0001622610-25-000003 ↗ filed May 14, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $324.4M Q1 2024 Q2 2024: $191.7M Q2 2024 Q3 2024: $294.5M Q3 2024 Q4 2024: $235.3M Q4 2024 Q1 2025: $227.8M $227.8M Q1 2025 Q2 2025: $307.5M Q2 2025 Q3 2025: $756.9M Q3 2025 Q4 2025: $953.4M Q4 2025 Q1 2026: $875.3M Q1 2026 Q2 2026: $362.7M Q2 2026

Holdings 37 stocks · $227.8M
JNPR Juniper Networks Inc. 25.61% 1,612,319 $58.3M Add +119.2%
FYBR Frontier Communications Pare 20.20% 1,283,279 $46.0M Add +121.2%
ALE Allete Inc. 11.21% 388,753 $25.5M Add +53.0%
K Kellanova 8.50% 234,872 $19.4M Add +62.0%
BABA Alibaba Group Holding-SP ADR 3.70% 63,819 $8.4M Add +1937.0%
ESGR Enstar Group Ltd. 3.01% 20,600 $6.8M Reduce -19.2%
HEES H&E Equipment Services Inc. 2.87% 68,996 $6.5M New
EVRI Everi Holdings Inc. 2.82% 470,661 $6.4M Reduce -6.4%
AMZN Amazon.com Inc. 2.70% 32,298 $6.1M Add +590.0%
TSM Taiwan Semiconductor-SP ADR 2.62% 36,000 $6.0M Add +455.3%
KKR KKR & Co. Inc. 1.98% 39,000 $4.5M New
KWEB Kranesh Csi China Internet 1.67% 108,800 $3.8M New
TLN Talen Energy Corp. 1.49% 16,950 $3.4M New
VST Vistra Corp. 1.32% 25,640 $3.0M New
XP XP Inc. Class A 1.10% 182,708 $2.5M New
GGAL Grupo Financiero Galicia-ADR 0.94% 39,500 $2.2M Add +63.3%
IRS Irsa -SP ADR filed as IRSA INVERSIONES Y REP S A 0.86% 151,603 $2.0M New
VTEX Vtex Class A 0.84% 376,621 $1.9M Add +30.4%
EWJ iShares MSCI Japan ETF 0.75% 25,000 $1.7M New
CEG Constellation Energy 0.71% 8,000 $1.6M New
KRE SS SPDR S&P Regional Bank 0.61% 24,340 $1.4M Add +321.8%
EWG iShares MSCI Germany ETF 0.57% 35,000 $1.3M New
RIO Rio Tinto PLC-Spon ADR 0.53% 20,000 $1.2M New
BIDU Baidu Inc. - Spon ADR 0.46% 11,500 $1.1M New
STNE Stoneco Ltd. Class A 0.40% 86,286 $904K Reduce -74.8%
META Meta Platforms Inc. Class A 0.38% 1,512 $871K New
MELI MercadoLibre Inc. 0.33% 380 $741K Add +150.0%
PAGS Pagseguro Digital Ltd. Class A 0.32% 94,169 $719K Reduce -60.0%
VIST Vista Energy Sab DE CV 0.31% 15,000 $698K New
SNOW Snowflake Inc. 0.31% 4,770 $697K New
HOOD Robinhood Markets Inc. Class A 0.22% 12,190 $507K Add +3.5%
MU Micron Technology Inc. 0.20% 5,183 $450K New
DB Deutsche Bank AG-Registered 0.16% 15,000 $357K New
LLY Eli Lilly & Co. 0.14% 387 $320K Add +18.4%
SUZ Suzano SA - Spon ADR 0.08% 19,850 $184K New
RKLB Rocket Lab USA Inc. 0.08% 10,000 $179K New
AZUL S A 0.02% 23,050 $38K New

Options reported separately and not counted above: ISHARES TR calls ($2.5M), SELECT SECTOR SPDR TR puts ($2.3M), SPDR GOLD TR calls ($1.3M), ISHARES TR calls ($741K), SELECT SECTOR SPDR TR puts ($443K), ALIBABA GROUP HLDG LTD calls ($438K), ISHARES TR puts ($219K), ISHARES INC calls ($146K).

Portfolio Sells Q4 2024 → Q1 2025
HCP Hashicorp Inc. Class A Sold out 0.00% −21.49
GOOG Alphabet Inc. Class C Sold out 0.00% −18.48
SILV Silvercrest Metals Inc. Sold out 0.00% −4.59
ALTM Arcadium Lithium PLC Sold out 0.00% −3.95
YPF YPF S.A.-Sponsored ADR Sold out 0.00% −1.20
BMA Banco Macro SA-ADR Sold out 0.00% −0.96
CG The Carlyle Group Inc. Sold out 0.00% −0.95
EDN Emp Distrib Y Comerc Nor-ADR Sold out 0.00% −0.94
STNE Stoneco Ltd. Class A Reduce -74.8% 0.40% −0.76
X United States Steel Corp. Sold out 0.00% −0.69
EMB iShares JP Morgan Usd Emergi Sold out 0.00% −0.66
ESGR Enstar Group Ltd. Reduce -19.2% 3.01% −0.49
SPSM SS SPDR P S&P 600 Small Cap Sold out 0.00% −0.48
PAGS Pagseguro Digital Ltd. Class A Reduce -60.0% 0.32% −0.31
ASML ASML Holding NV-NY Reg SHS Sold out 0.00% −0.31
ARGT Global X MSCI Argentina ETF Sold out 0.00% −0.29
LAZ Lazard Inc. Sold out 0.00% −0.27
APO Apollo Global Management Inc. Sold out 0.00% −0.25
IWM iShares Russell 2000 ETF Sold out 0.00% −0.24
XYZ Block Inc. Sold out 0.00% −0.18
XLF SS Financial Select Sector Sold out 0.00% −0.15
JPM JPMorgan Chase & Co. Sold out 0.00% −0.14
CRWD CrowdStrike Holdings Inc. Class A Sold out 0.00% −0.13
BWXT BWX Technologies Inc. Sold out 0.00% −0.12
PAM Pampa Energia SA-Spon ADR Sold out 0.00% −0.10
EVRI Everi Holdings Inc. Reduce -6.4% 2.82% −0.06

Portfolio Buys Q4 2024 → Q1 2025
JNPR Juniper Networks Inc. Add +119.2% 25.61% +13.90
FYBR Frontier Communications Pare Add +121.2% 20.20% +11.64
ALE Allete Inc. Add +53.0% 11.21% +4.21
BABA Alibaba Group Holding-SP ADR Add +1937.0% 3.70% +3.59
K Kellanova Add +62.0% 8.50% +3.51
HEES H&E Equipment Services Inc. New 2.87% +2.87
AMZN Amazon.com Inc. Add +590.0% 2.70% +2.26
TSM Taiwan Semiconductor-SP ADR Add +455.3% 2.62% +2.08
KKR KKR & Co. Inc. New 1.98% +1.98
KWEB Kranesh Csi China Internet New 1.67% +1.67
TLN Talen Energy Corp. New 1.49% +1.49
VST Vistra Corp. New 1.32% +1.32
XP XP Inc. Class A New 1.10% +1.10
IRS Irsa -SP ADR New 0.86% +0.86
EWJ iShares MSCI Japan ETF New 0.75% +0.75
CEG Constellation Energy New 0.71% +0.71
EWG iShares MSCI Germany ETF New 0.57% +0.57
RIO Rio Tinto PLC-Spon ADR New 0.53% +0.53
BIDU Baidu Inc. - Spon ADR New 0.46% +0.46
KRE SS SPDR S&P Regional Bank Add +321.8% 0.61% +0.46
META Meta Platforms Inc. Class A New 0.38% +0.38
VIST Vista Energy Sab DE CV New 0.31% +0.31
SNOW Snowflake Inc. New 0.31% +0.31
GGAL Grupo Financiero Galicia-ADR Add +63.3% 0.94% +0.30
MELI MercadoLibre Inc. Add +150.0% 0.33% +0.22
MU Micron Technology Inc. New 0.20% +0.20
DB Deutsche Bank AG-Registered New 0.16% +0.16
VTEX Vtex Class A Add +30.4% 0.84% +0.12
SUZ Suzano SA - Spon ADR New 0.08% +0.08
RKLB Rocket Lab USA Inc. New 0.08% +0.08
HOOD Robinhood Markets Inc. Class A Add +3.5% 0.22% +0.04
LLY Eli Lilly & Co. Add +18.4% 0.14% +0.03
AZUL S A New 0.02% +0.02

Options Activity Q4 2024 → Q1 2025
ISHARES TR call New 60,125 $2.5M
SELECT SECTOR SPDR TR put New 112,800 $2.3M
SPDR GOLD TR call New 2,080 $1.3M
ISHARES TR call Add +465.0% 124,300 $741K
SELECT SECTOR SPDR TR put New 7,900 $443K
ALIBABA GROUP HLDG LTD call New 3,725 $438K
AZUL S A put Sold out 4,267 $385Kbefore exit
ALPHABET INC call Sold out 725 $320Kbefore exit
ARK ETF TR call Sold out 19,350 $271Kbefore exit
ISHARES TR put New 15,000 $219K
ISHARES INC call New 20,850 $146K
SELECT SECTOR SPDR TR call Sold out 20,000 $120Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 34$362.7MEA, WBS, NUVL, PBR.A, APGE
Q1 2026 70$875.3MEEM, EFA, HOLX, EA, PBR.A
Q4 2025 41$953.4MGTLS, CYBR, EA, DAY, EFA
Q3 2025 35$756.9MCYBR, EEM, GTLS, EWZ, EMXC
Q2 2025 52$307.5MEEM, JNPR, FYBR, COOP, ALE
Q1 2025 37$227.8MJNPR, FYBR, ALE, K, BABA
Q4 2024 39$235.3MHCP, GOOG, JNPR, FYBR, ALE
Q3 2024 34$294.5MHCP, AGR, AXONICS INC, STNE, SWN
Q2 2024 28$191.7MSWN, AXONICS INC, NVEI, ARCO, OLK
Q1 2024 33$324.4MPXD, TCN, ARCO, SP, XLF