Absolute Gestao de Investimentos Ltda. In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Absolute Gestao de Investimentos Ltda. reported 41 stock positions worth $953.4 million . Its top holding was Chart Industries (GTLS) at 19.5% of the portfolio, followed by Cyberark Software Ltd./Israel (CYBR, 16.1% ) and Electronic Arts (EA, 14.3% ). Compared with Q3 2025, it opened 30 new positions, sold out of 24, added to 6 and reduced 5. The biggest buy was Electronic Arts (EA, shares +733% ) and the biggest sale iShares MSCI Emerging Market (EEM, shares −74% ).
Location SAO PAULO, D5
CIK 0001622610
Portfolio Value $953.4M (Q4 2025) Holdings 41 stocks · $953.4M 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 Q3 2025 GTLS Chart Industries Inc. 900,952 $185.8M Add +104.4% CYBR Cyberark Software Ltd./Israel 344,748 $153.8M Add +80.6% EA Electronic Arts Inc. 666,473 $136.2M Add +733.1% DAY Dayforce Inc. 1,299,386 $89.9M New EFA iShares MSCI Eafe ETF 692,000 $66.5M Add +142.4% EXAS Exact Sciences Corp. 651,423 $66.2M New XLF SS Financial Select Sector 950,000 $52.0M New HOLX Hologic Inc. 630,749 $47.0M New XP XP Inc. Class A 2,262,857 $37.0M Add +108.6% AL Sumisho Air Lease Corp. filed as AIR LEASE CORP 446,067 $28.7M New EEM iShares MSCI Emerging Market 430,077 $23.5M Reduce -74.4% CSGS CSG Systems Intl Inc. 133,995 $10.3M New PAM Pampa Energia SA-Spon ADR 96,420 $8.5M Reduce -7.8% WBD Warner Bros Discovery Inc. 180,000 $5.2M New STNE Stoneco Ltd. Class A 347,565 $5.1M New AMZN Amazon.com Inc. 18,828 $4.3M Add +253.4% EWZ iShares MSCI Brazil ETF 117,187 $3.7M Reduce -92.6% PAGS Pagseguro Digital Ltd. Class A 362,484 $3.5M New SIG Signet Jewelers Ltd. 33,623 $2.8M New TSM Taiwan Semiconductor-SP ADR 9,000 $2.7M New GOOGL Alphabet Inc. Class A 7,000 $2.2M New ALK Alaska Air Group Inc. 43,422 $2.2M New VTEX Vtex Class A 578,098 $2.2M New JBS JBS NV-A 150,000 $2.2M New STAA Staar Surgical Co. 90,000 $2.1M New NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 106,594 $1.8M Reduce -91.5% ARCO Arcos Dorados Holdings Inc. Class A 154,584 $1.1M New LOMA Loma Negra Cia Ind-Spon ADR 85,426 $1.1M New TEVA Teva Pharmaceutical-SP ADR 30,800 $961K New GOOG Alphabet Inc. Class C 3,000 $941K New PBR Petroleo Brasileiro-Spon ADR 72,841 $863K New OLN Olin Corp. 33,200 $692K Reduce -26.2% ABEV Ambev SA-ADR 141,469 $349K New LITE Lumentum Holdings Inc. 925 $341K New IREN Iren Ltd. filed as IREN LIMITED 8,165 $308K New BE Bloom Energy Corp. Class A 3,125 $272K New CLS Celestica Inc. 890 $263K New CIFR Cipher Digital Inc. 17,820 $263K New WULF Terawulf Inc. 21,123 $243K New COHR Coherent Corp. 1,110 $205K New CLSK Cleanspark Inc. 19,722 $200K New
Options reported separately and not counted above: ISHARES TR calls ($1.6M), ISHARES TR calls ($683K), SELECT SECTOR SPDR TR calls ($615K), ISHARES INC calls ($248K), SELECT SECTOR SPDR TR calls ($43K).
Portfolio Sells Q3 2025 → Q4 2025 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 Q3 2025 % Of Portfolio Change To Portfolio ▲ EEM iShares MSCI Emerging Market Reduce -74.4% 2.47% −9.39 EMXC iShares MSCI Emr MRK Ex Chna Sold out 0.00% −6.38 EWZ iShares MSCI Brazil ETF Reduce -92.6% 0.39% −6.06 VRNA Verona Pharma Ltd. Sold out 0.00% −5.83 K Kellanova Sold out 0.00% −4.95 KWEB Kranesh Csi China Internet Sold out 0.00% −4.12 MRUS Merus NV Sold out 0.00% −4.11 SAND Sandstorm Gold Ltd. Sold out 0.00% −3.23 COOP Mr Cooper Group Inc. Sold out 0.00% −3.13 EWA iShares MSCI Australia ETF Sold out 0.00% −2.85 TECK Teck Resources Ltd.-CLS B Sold out 0.00% −2.73 NU Nu Holdings Ltd./Cayman Isl-A Reduce -91.5% 0.19% −2.46 WNS WNS Holdings Ltd. Sold out 0.00% −2.02 NVDA Nvidia Corp. Sold out 0.00% −1.48 NSC Norfolk Southern Corp. Sold out 0.00% −1.31 ARIS WATER SOLUTIONS INC-A Sold out 0.00% −0.98 AVDX Avidxchange Holdings Inc. Sold out 0.00% −0.59 FYBR Frontier Communications Pare Sold out 0.00% −0.42 VALE Vale SA-SP ADR Sold out 0.00% −0.29 NEM Newmont Corp. Sold out 0.00% −0.22 EWW iShares MSCI Mexico ETF Sold out 0.00% −0.20 SBS Cia Saneamento Basico DE-ADR Sold out 0.00% −0.20 URA Global X Uranium ETF Sold out 0.00% −0.18 KVUE Kenvue Inc. Sold out 0.00% −0.14 TIGO Millicom Intl Cellular S.A. Sold out 0.00% −0.13 SCCO Southern Copper Corp. Sold out 0.00% −0.13 BBD Banco Bradesco-ADR Sold out 0.00% −0.10 OLN Olin Corp. Reduce -26.2% 0.07% −0.08 PAM Pampa Energia SA-Spon ADR Reduce -7.8% 0.90% +0.07
Portfolio Buys Q3 2025 → Q4 2025 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 Q3 2025 % Of Portfolio Change To Portfolio ▼ EA Electronic Arts Inc. Add +733.1% 14.28% +12.15 DAY Dayforce Inc. New 9.43% +9.43 GTLS Chart Industries Inc. Add +104.4% 19.49% +7.83 EXAS Exact Sciences Corp. New 6.94% +6.94 XLF SS Financial Select Sector New 5.46% +5.46 HOLX Hologic Inc. New 4.93% +4.93 CYBR Cyberark Software Ltd./Israel Add +80.6% 16.13% +3.94 EFA iShares MSCI Eafe ETF Add +142.4% 6.97% +3.45 AL Sumisho Air Lease Corp. New 3.01% +3.01 XP XP Inc. Class A Add +108.6% 3.89% +1.19 CSGS CSG Systems Intl Inc. New 1.08% +1.08 WBD Warner Bros Discovery Inc. New 0.54% +0.54 STNE Stoneco Ltd. Class A New 0.54% +0.54 PAGS Pagseguro Digital Ltd. Class A New 0.37% +0.37 AMZN Amazon.com Inc. Add +253.4% 0.46% +0.30 SIG Signet Jewelers Ltd. New 0.29% +0.29 TSM Taiwan Semiconductor-SP ADR New 0.29% +0.29 GOOGL Alphabet Inc. Class A New 0.23% +0.23 ALK Alaska Air Group Inc. New 0.23% +0.23 VTEX Vtex Class A New 0.23% +0.23 JBS JBS NV-A New 0.23% +0.23 STAA Staar Surgical Co. New 0.22% +0.22 ARCO Arcos Dorados Holdings Inc. Class A New 0.12% +0.12 LOMA Loma Negra Cia Ind-Spon ADR New 0.12% +0.12 TEVA Teva Pharmaceutical-SP ADR New 0.10% +0.10 GOOG Alphabet Inc. Class C New 0.10% +0.10 PBR Petroleo Brasileiro-Spon ADR New 0.09% +0.09 ABEV Ambev SA-ADR New 0.04% +0.04 LITE Lumentum Holdings Inc. New 0.04% +0.04 IREN Iren Ltd. New 0.03% +0.03 BE Bloom Energy Corp. Class A New 0.03% +0.03 CLS Celestica Inc. New 0.03% +0.03 CIFR Cipher Digital Inc. New 0.03% +0.03 WULF Terawulf Inc. New 0.03% +0.03 COHR Coherent Corp. New 0.02% +0.02 CLSK Cleanspark Inc. New 0.02% +0.02
Options Activity Q3 2025 → Q4 2025 Security Type Change vs Q3 2025 Underlying Shares Value ▼ ISHARES TR call Reduce -50.7% 53,406 $1.6M STATE STR SPDR DOW JONES IND call Sold out 3,910 $958Kbefore exit ISHARES TR call Add +479.6% 45,734 $683K SELECT SECTOR SPDR TR call New 44,250 $615K KRANESHARES TRUST call Sold out 12,800 $488Kbefore exit GLOBAL X FDS call Sold out 5,000 $424Kbefore exit COINBASE GLOBAL INC call Sold out 350 $420Kbefore exit RIOT PLATFORMS INC call Sold out 2,800 $290Kbefore exit ISHARES INC call Reduce -58.3% 19,800 $248K SPDR SERIES TRUST call Sold out 16,675 $167Kbefore exit SELECT SECTOR SPDR TR call Add +173.5% 27,353 $43K
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