Absolute Gestao de Investimentos Ltda.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 11, 2025), Absolute Gestao de Investimentos Ltda. reported 52 stock positions worth $307.5 million. Its top holding was iShares MSCI Emerging Market (EEM) at 28.0% of the portfolio, followed by Juniper Networks (JNPR, 16.2%) and Frontier Communications Pare (FYBR, 8.4%). Compared with Q1 2025, it opened 36 new positions, sold out of 21, added to 4 and reduced 11. The biggest buy was a new position in iShares MSCI Emerging Market (EEM) and the biggest sale Frontier Communications Pare (FYBR, shares −44%).
- Most Recent 13F
- Q2 2026
- Location
- SAO PAULO, D5
- CIK
- 0001622610
- Portfolio Value
- $307.5M (Q2 2025)
- SEC Filing
- 0001622610-25-000004 ↗ filed Aug 11, 2025
Holdings Value
Holdings 52 stocks · $307.5M
| EEM iShares MSCI Emerging Market | 28.01% | 1,785,708 | $86.1M | New |
| JNPR Juniper Networks Inc. | 16.23% | 1,250,263 | $49.9M | Reduce -22.5% |
| FYBR Frontier Communications Pare | 8.44% | 713,279 | $26.0M | Reduce -44.4% |
| COOP Mr Cooper Group Inc. | 7.88% | 162,372 | $24.2M | New |
| ALE Allete Inc. | 5.70% | 273,795 | $17.5M | Reduce -29.6% |
| XP XP Inc. Class A | 5.13% | 780,292 | $15.8M | Add +327.1% |
| K Kellanova | 4.71% | 182,000 | $14.5M | Reduce -22.5% |
| PAGS Pagseguro Digital Ltd. Class A | 4.37% | 1,392,605 | $13.4M | Add +1378.8% |
| MAG Mag Silver Corp. | 3.30% | 480,470 | $10.2M | New |
| NVEE NV5 Global Inc. | 1.68% | 223,370 | $5.2M | New |
| VTEX Vtex Class A | 1.20% | 560,932 | $3.7M | Add +48.9% |
| PAM Pampa Energia SA-Spon ADR | 0.94% | 41,547 | $2.9M | New |
| TSM Taiwan Semiconductor-SP ADR | 0.89% | 12,126 | $2.7M | Reduce -66.3% |
| GOOGL Alphabet Inc. Class A | 0.89% | 15,500 | $2.7M | New |
| GLOB Globant SA | 0.84% | 28,500 | $2.6M | New |
| BABA Alibaba Group Holding-SP ADR | 0.82% | 22,172 | $2.5M | Reduce -65.3% |
| KWEB Kranesh Csi China Internet | 0.72% | 64,600 | $2.2M | Reduce -40.6% |
| MS Morgan Stanley | 0.59% | 12,900 | $1.8M | New |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.58% | 37,500 | $1.8M | New |
| AMD Advanced Micro Devices | 0.58% | 12,500 | $1.8M | New |
| FXI iShares China Large-Cap ETF | 0.54% | 45,000 | $1.7M | New |
| AMZN Amazon.com Inc. | 0.52% | 7,328 | $1.6M | Reduce -77.3% |
| SN Sharkninja Inc. | 0.48% | 15,000 | $1.5M | New |
| LULU Lululemon Athletica Inc. | 0.46% | 6,000 | $1.4M | New |
| EWW iShares MSCI Mexico ETF | 0.43% | 22,000 | $1.3M | New |
| C Citigroup Inc. | 0.42% | 15,000 | $1.3M | New |
| RIO Rio Tinto PLC-Spon ADR | 0.38% | 20,000 | $1.2M | No change |
| UBER Uber Technologies Inc. | 0.32% | 10,500 | $980K | New |
| SNOW Snowflake Inc. | 0.26% | 3,550 | $794K | Reduce -25.6% |
| TIGO Millicom Intl Cellular S.A. | 0.25% | 20,862 | $782K | New |
| MRVL Marvell Technology Inc. | 0.25% | 10,000 | $774K | New |
| META Meta Platforms Inc. Class A | 0.24% | 1,000 | $738K | Reduce -33.9% |
| MU Micron Technology Inc. | 0.22% | 5,500 | $678K | Add +6.1% |
| DLO Dlocal Ltd. | 0.17% | 45,045 | $511K | New |
| GGAL Grupo Financiero Galicia-ADR | 0.16% | 9,500 | $479K | Reduce -76.0% |
| ORCL Oracle Corp. | 0.14% | 2,000 | $437K | New |
| NFLX Netflix Inc. | 0.13% | 300 | $402K | New |
| IREN Iren Ltd. filed as IREN LIMITED | 0.12% | 25,000 | $364K | New |
| ZETA Zeta Global Holdings Corp. Class A | 0.10% | 20,000 | $310K | New |
| EMLC Vaneck JPM Em Local Curr BND | 0.08% | 10,000 | $254K | New |
| FLR Fluor Corp. | 0.07% | 4,451 | $228K | New |
| TPC Tutor Perini Corp. | 0.07% | 4,825 | $226K | New |
| POWL Powell Industries Inc. | 0.07% | 1,069 | $225K | New |
| EVR Evercore Inc. Class A | 0.07% | 827 | $223K | New |
| AGX Argan Inc. | 0.07% | 1,010 | $223K | New |
| LAZ Lazard Inc. | 0.07% | 4,594 | $220K | New |
| SPRX Spear Alpha ETF | 0.07% | 7,421 | $220K | New |
| CG The Carlyle Group Inc. | 0.07% | 4,235 | $218K | New |
| TPG TPG Inc. | 0.07% | 4,147 | $218K | New |
| ROAD Construction Partners Inc. Class A | 0.07% | 2,002 | $213K | New |
| STRL Sterling Infrastructure Inc. | 0.07% | 870 | $201K | New |
| GSRT GSR III Acquisition Corp. | 0.04% | 12,500 | $135K | New |
Options reported separately and not counted above: ISHARES TR calls ($2.0M), ISHARES INC calls ($1.3M), ISHARES TR calls ($493K), JPMORGAN CHASE & CO calls ($257K), STATE STR SPDR DOW JONES IND calls ($244K).
Portfolio Sells Q1 2025 → Q2 2025
| FYBR Frontier Communications Pare | Reduce -44.4% | 8.44% | −11.76 |
| JNPR Juniper Networks Inc. | Reduce -22.5% | 16.23% | −9.38 |
| ALE Allete Inc. | Reduce -29.6% | 5.70% | −5.51 |
| K Kellanova | Reduce -22.5% | 4.71% | −3.80 |
| ESGR Enstar Group Ltd. | Sold out | 0.00% | −3.01 |
| BABA Alibaba Group Holding-SP ADR | Reduce -65.3% | 0.82% | −2.89 |
| HEES H&E Equipment Services Inc. | Sold out | 0.00% | −2.87 |
| EVRI Everi Holdings Inc. | Sold out | 0.00% | −2.82 |
| AMZN Amazon.com Inc. | Reduce -77.3% | 0.52% | −2.17 |
| KKR KKR & Co. Inc. | Sold out | 0.00% | −1.98 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -66.3% | 0.89% | −1.73 |
| TLN Talen Energy Corp. | Sold out | 0.00% | −1.49 |
| VST Vistra Corp. | Sold out | 0.00% | −1.32 |
| KWEB Kranesh Csi China Internet | Reduce -40.6% | 0.72% | −0.95 |
| IRS Irsa -SP ADR | Sold out | 0.00% | −0.86 |
| GGAL Grupo Financiero Galicia-ADR | Reduce -76.0% | 0.16% | −0.79 |
| EWJ iShares MSCI Japan ETF | Sold out | 0.00% | −0.75 |
| CEG Constellation Energy | Sold out | 0.00% | −0.71 |
| KRE SS SPDR S&P Regional Bank | Sold out | 0.00% | −0.61 |
| EWG iShares MSCI Germany ETF | Sold out | 0.00% | −0.57 |
| BIDU Baidu Inc. - Spon ADR | Sold out | 0.00% | −0.46 |
| STNE Stoneco Ltd. Class A | Sold out | 0.00% | −0.40 |
| MELI MercadoLibre Inc. | Sold out | 0.00% | −0.33 |
| VIST Vista Energy Sab DE CV | Sold out | 0.00% | −0.31 |
| HOOD Robinhood Markets Inc. Class A | Sold out | 0.00% | −0.22 |
| DB Deutsche Bank AG-Registered | Sold out | 0.00% | −0.16 |
| META Meta Platforms Inc. Class A | Reduce -33.9% | 0.24% | −0.14 |
| LLY Eli Lilly & Co. | Sold out | 0.00% | −0.14 |
| SUZ Suzano SA - Spon ADR | Sold out | 0.00% | −0.08 |
| RKLB Rocket Lab USA Inc. | Sold out | 0.00% | −0.08 |
| SNOW Snowflake Inc. | Reduce -25.6% | 0.26% | −0.05 |
| AZUL S A | Sold out | 0.00% | −0.02 |
Portfolio Buys Q1 2025 → Q2 2025
| EEM iShares MSCI Emerging Market | New | 28.01% | +28.01 |
| COOP Mr Cooper Group Inc. | New | 7.88% | +7.88 |
| PAGS Pagseguro Digital Ltd. Class A | Add +1378.8% | 4.37% | +4.05 |
| XP XP Inc. Class A | Add +327.1% | 5.13% | +4.02 |
| MAG Mag Silver Corp. | New | 3.30% | +3.30 |
| NVEE NV5 Global Inc. | New | 1.68% | +1.68 |
| PAM Pampa Energia SA-Spon ADR | New | 0.94% | +0.94 |
| GOOGL Alphabet Inc. Class A | New | 0.89% | +0.89 |
| GLOB Globant SA | New | 0.84% | +0.84 |
| MS Morgan Stanley | New | 0.59% | +0.59 |
| BAC Bank of America Corp. | New | 0.58% | +0.58 |
| AMD Advanced Micro Devices | New | 0.58% | +0.58 |
| FXI iShares China Large-Cap ETF | New | 0.54% | +0.54 |
| SN Sharkninja Inc. | New | 0.48% | +0.48 |
| LULU Lululemon Athletica Inc. | New | 0.46% | +0.46 |
| EWW iShares MSCI Mexico ETF | New | 0.43% | +0.43 |
| C Citigroup Inc. | New | 0.42% | +0.42 |
| VTEX Vtex Class A | Add +48.9% | 1.20% | +0.37 |
| UBER Uber Technologies Inc. | New | 0.32% | +0.32 |
| TIGO Millicom Intl Cellular S.A. | New | 0.25% | +0.25 |
| MRVL Marvell Technology Inc. | New | 0.25% | +0.25 |
| DLO Dlocal Ltd. | New | 0.17% | +0.17 |
| ORCL Oracle Corp. | New | 0.14% | +0.14 |
| NFLX Netflix Inc. | New | 0.13% | +0.13 |
| IREN Iren Ltd. | New | 0.12% | +0.12 |
| ZETA Zeta Global Holdings Corp. Class A | New | 0.10% | +0.10 |
| EMLC Vaneck JPM Em Local Curr BND | New | 0.08% | +0.08 |
| FLR Fluor Corp. | New | 0.07% | +0.07 |
| TPC Tutor Perini Corp. | New | 0.07% | +0.07 |
| POWL Powell Industries Inc. | New | 0.07% | +0.07 |
| EVR Evercore Inc. Class A | New | 0.07% | +0.07 |
| AGX Argan Inc. | New | 0.07% | +0.07 |
| LAZ Lazard Inc. | New | 0.07% | +0.07 |
| SPRX Spear Alpha ETF | New | 0.07% | +0.07 |
| CG The Carlyle Group Inc. | New | 0.07% | +0.07 |
| TPG TPG Inc. | New | 0.07% | +0.07 |
| ROAD Construction Partners Inc. Class A | New | 0.07% | +0.07 |
| STRL Sterling Infrastructure Inc. | New | 0.07% | +0.07 |
| GSRT GSR III Acquisition Corp. | New | 0.04% | +0.04 |
| MU Micron Technology Inc. | Add +6.1% | 0.22% | +0.02 |
Options Activity Q1 2025 → Q2 2025
| SELECT SECTOR SPDR TR | put | Sold out | 112,800 | $2.3Mbefore exit |
| ISHARES TR | call | Reduce -51.7% | 59,982 | $2.0M |
| ISHARES INC | call | Add +19.3% | 24,880 | $1.3M |
| SPDR GOLD TR | call | Sold out | 2,080 | $1.3Mbefore exit |
| ISHARES TR | call | Reduce -84.2% | 9,480 | $493K |
| SELECT SECTOR SPDR TR | put | Sold out | 7,900 | $443Kbefore exit |
| ALIBABA GROUP HLDG LTD | call | Sold out | 3,725 | $438Kbefore exit |
| JPMORGAN CHASE & CO | call | New | 2,000 | $257K |
| STATE STR SPDR DOW JONES IND | call | New | 1,200 | $244K |
| ISHARES TR | put | Sold out | 15,000 | $219Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings 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 |