Kapitalo Investimentos Ltda
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Kapitalo Investimentos Ltda reported 256 stock positions worth $453.9 million. Its top holding was Pioneer Natural Resources (PXD) at 8.8% of the portfolio, followed by Teck Resources Ltd.-CLS B (TECK, 8.3%) and iShares China Large-Cap ETF (FXI, 8.1%). Compared with Q4 2023, it opened 55 new positions, sold out of 322, added to 110 and reduced 87. The biggest buy was Pioneer Natural Resources (PXD, shares +31214%) and the biggest sale iShares China Large-Cap ETF (FXI, shares −46%).
- Most Recent 13F
- Q2 2026
- Location
- SAO PAULO, D5
- CIK
- 0001798686
- Portfolio Value
- $453.9M (Q1 2024)
- SEC Filing
- 0000919574-24-003106 ↗ filed May 15, 2024
Holdings Value
Holdings 256 stocks · $453.9M
| PXD Pioneer Natural Resources Co. | 8.84% | 152,810 | $40.1M | Add +31213.5% |
| TECK Teck Resources Ltd.-CLS B | 8.34% | 827,310 | $37.9M | Add +2.8% |
| FXI iShares China Large-Cap ETF | 8.07% | 1,521,800 | $36.6M | Reduce -46.3% |
| HES Hess Corp. | 5.62% | 166,989 | $25.5M | New |
| AXONICS INC | 5.37% | 353,181 | $24.4M | New |
| URA Global X Uranium ETF | 4.80% | 755,456 | $21.8M | Reduce -47.2% |
| CPRI Capri Holdings Ltd. | 3.98% | 398,303 | $18.0M | Add +68.8% |
| RIO Rio Tinto PLC-Spon ADR | 3.62% | 258,000 | $16.4M | No change |
| SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI | 3.02% | 814,840 | $13.7M | Reduce -5.2% |
| KWEB Kranesh Csi China Internet | 2.66% | 460,500 | $12.1M | No change |
| ARB Altshares Merger Arbitrage | 2.40% | 400,000 | $10.9M | Add +95.8% |
| MSFT Microsoft Corp. | 2.28% | 24,643 | $10.4M | Add +301.6% |
| GOOGL Alphabet Inc. Class A | 2.04% | 61,376 | $9.3M | Add +496.8% |
| TSM Taiwan Semiconductor-SP ADR | 1.81% | 60,424 | $8.2M | Reduce -23.9% |
| CHTR Charter Communications Inc. Class A | 1.77% | 27,698 | $8.0M | New |
| ERO Ero Copper Corp. | 1.55% | 365,000 | $7.0M | No change |
| EWN iShares MSCI Netherlands ETF | 1.38% | 126,519 | $6.3M | Add +42.8% |
| XP XP Inc. Class A | 1.28% | 225,664 | $5.8M | Reduce -8.1% |
| FCX Freeport-McMoran Inc. | 1.12% | 107,731 | $5.1M | Reduce -2.7% |
| TXNM TXNM Energy Inc. filed as PNM RES INC | 1.05% | 126,808 | $4.8M | Reduce -36.5% |
| X United States Steel Corp. | 1.03% | 114,995 | $4.7M | Add +150.1% |
| PBR Petroleo Brasileiro-Spon ADR | 0.93% | 278,947 | $4.2M | Add +3921.7% |
| AZUL S A | 0.93% | 541,892 | $4.2M | New |
| V Visa Inc. Class A | 0.88% | 14,304 | $4.0M | Add +1777.2% |
| DEO Diageo PLC-Sponsored ADR | 0.73% | 22,350 | $3.3M | Reduce -59.8% |
| CSANY Cosan SA -ADR | 0.73% | 256,650 | $3.3M | Add +532.9% |
| AXIAY Axia Energia-ADR filed as CENTRAIS ELETRICAS BRASILEIR | 0.60% | 324,539 | $2.7M | New |
| EVEX Eve Holding Inc. filed as EVE HLDG INC | 0.59% | 500,000 | $2.7M | No change |
| PAGS Pagseguro Digital Ltd. Class A | 0.56% | 178,156 | $2.5M | New |
| LOMA Loma Negra Cia Ind-Spon ADR | 0.56% | 378,600 | $2.5M | New |
| XBI SS SPDR S&P Biotech ETF | 0.41% | 19,380 | $1.8M | New |
| WDAY Workday Inc. Class A | 0.38% | 6,260 | $1.7M | Add +20.8% |
| PM Philip Morris International | 0.36% | 17,795 | $1.6M | Reduce -79.4% |
| COPX Global X Copper Miners ETF | 0.32% | 33,977 | $1.4M | New |
| META Meta Platforms Inc. Class A | 0.29% | 2,676 | $1.3M | Reduce -15.6% |
| NWSA News Corp. Class A | 0.27% | 47,500 | $1.2M | Add +142.7% |
| NTAP Netapp Inc. | 0.27% | 11,659 | $1.2M | Add +220.0% |
| MPC Marathon Petroleum Corp. | 0.26% | 5,753 | $1.2M | Reduce -34.5% |
| AMZN Amazon.com Inc. | 0.25% | 6,170 | $1.1M | Add +219.7% |
| ETR Entergy Corp. | 0.24% | 10,187 | $1.1M | Add +140.5% |
| NFLX Netflix Inc. | 0.24% | 1,760 | $1.1M | Add +28.1% |
| ODFL Old Dominion Freight Line | 0.21% | 4,320 | $947K | Add +4135.3% |
| BCC Boise Cascade Co. | 0.21% | 6,168 | $946K | Add +8.2% |
| RHP Ryman Hospitality Properties | 0.21% | 8,131 | $940K | Add +66.6% |
| COKE Coca-Cola Consolidated Inc. | 0.20% | 1,096 | $928K | Add +42.7% |
| CNC Centene Corp. | 0.20% | 11,660 | $915K | Add +29.6% |
| COR Cencora Inc. | 0.20% | 3,690 | $897K | Add +17.7% |
| AAPL Apple Inc. | 0.20% | 5,222 | $895K | Add +78.7% |
| INGR Ingredion Inc. | 0.19% | 7,372 | $861K | Reduce -8.5% |
| NUE Nucor Corp. | 0.18% | 4,222 | $836K | Add +191.0% |
| OKTA Okta Inc. | 0.18% | 7,959 | $833K | New |
| EA Electronic Arts Inc. | 0.18% | 6,071 | $805K | Add +1352.4% |
| PBF PBF Energy Inc. Class A | 0.17% | 13,797 | $794K | Add +52.3% |
| SYY Sysco Corp. | 0.17% | 9,541 | $775K | Add +25.9% |
| CMC Commercial Metals Co. | 0.17% | 12,935 | $760K | Add +392.9% |
| RS Reliance Inc. | 0.16% | 2,236 | $747K | Reduce -50.2% |
| VLO Valero Energy Corp. | 0.16% | 4,250 | $725K | Reduce -39.5% |
| FANG Diamondback Energy Inc. | 0.16% | 3,567 | $707K | Reduce -18.8% |
| RL Ralph Lauren Corp. | 0.15% | 3,687 | $692K | Add +97.2% |
| PPL PPL Corp. | 0.15% | 24,699 | $680K | Reduce -4.6% |
| DINO HF Sinclair Corp. | 0.15% | 11,175 | $675K | Reduce -40.9% |
| DTE DTE Energy Company | 0.14% | 5,729 | $642K | New |
| ED Consolidated Edison Inc. | 0.14% | 6,940 | $630K | Reduce -30.6% |
| FR First Industrial Realty TR | 0.14% | 11,719 | $616K | New |
| SIRI Sirius XM Holdings Inc. | 0.13% | 156,923 | $609K | Add +60.0% |
| MSM MSC Industrial Direct Co. Class A | 0.13% | 5,971 | $579K | Reduce -5.8% |
| NSIT Insight Enterprises Inc. | 0.13% | 3,083 | $572K | Add +77.1% |
| PSX Phillips 66 | 0.12% | 3,444 | $563K | Reduce -5.6% |
| EGP Eastgroup Properties Inc. | 0.12% | 3,118 | $561K | New |
| KDP Keurig Dr Pepper Inc. | 0.12% | 17,864 | $548K | Add +33.6% |
| VNM Vaneck Vietnam ETF | 0.12% | 39,404 | $548K | New |
| HST Host Hotels & Resorts Inc. | 0.12% | 25,806 | $534K | Add +71.1% |
| CTSH Cognizant Tech Solutions-A | 0.12% | 7,251 | $531K | Add +86.7% |
| BRX Brixmor Property Group Inc. | 0.12% | 22,629 | $531K | Add +206.2% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.12% | 17,733 | $528K | Reduce -2.5% |
| PVH PVH Corp. | 0.12% | 3,726 | $524K | Add +217.1% |
| AIT Applied Industrial Tech Inc. | 0.11% | 2,629 | $519K | Reduce -8.1% |
| POST Post Holdings Inc. filed as POST HLDGS INC | 0.11% | 4,876 | $518K | Add +67.0% |
| STAG Stag Industrial Inc. | 0.11% | 13,344 | $513K | Add +152.7% |
| EXP Eagle Materials Inc. | 0.11% | 1,883 | $512K | New |
| OVV Ovintiv Inc. | 0.11% | 9,795 | $508K | Reduce -1.5% |
| CVLT Commvault Systems Inc. | 0.11% | 4,979 | $505K | New |
| MAS Masco Corp. | 0.11% | 6,388 | $504K | Add +1123.8% |
| JNPR Juniper Networks Inc. | 0.11% | 13,293 | $493K | Add +389.8% |
| PFGC Performance Food Group Co. | 0.11% | 6,559 | $490K | Add +15.8% |
| GDDY GoDaddy Inc. Class A | 0.11% | 4,120 | $489K | Add +524.2% |
| LYV Live Nation Entertainment Inc. | 0.11% | 4,612 | $488K | Reduce -31.9% |
| SON Sonoco Products Co. | 0.11% | 8,376 | $484K | Reduce -8.2% |
| FFIV F5 Inc. | 0.11% | 2,545 | $483K | Add +57.8% |
| SKX Skechers USA Inc. Class A | 0.10% | 7,766 | $476K | Add +451.2% |
| ELV Elevance Health Inc. | 0.10% | 915 | $474K | Reduce -29.2% |
| CSCO Cisco Systems Inc. | 0.10% | 9,498 | $474K | Reduce -21.2% |
| PHM Pultegroup Inc. | 0.10% | 3,877 | $468K | Reduce -21.3% |
| BBY Best Buy Co. Inc. | 0.10% | 5,635 | $462K | Add +450.3% |
| UNH Unitedhealth Group Inc. | 0.10% | 930 | $460K | Reduce -15.4% |
| MUSA Murphy USA Inc. | 0.10% | 1,081 | $453K | Reduce -72.1% |
| BECN Beacon Roofing Supply Inc. | 0.10% | 4,580 | $449K | Add +30.1% |
| REGN Regeneron Pharmaceuticals | 0.10% | 464 | $447K | Add +93.3% |
| ARCC Ares Capital Corp. | 0.10% | 21,190 | $441K | Reduce -14.8% |
| BLDR Builders Firstsource Inc. | 0.10% | 2,109 | $440K | Add +16.6% |
Options reported separately and not counted above: FXI puts ($1.1M), NVDA puts ($622K), PBR puts ($105K).
Portfolio Sells Q4 2023 → Q1 2024
| FXI iShares China Large-Cap ETF | Reduce -46.3% | 8.07% | −5.97 |
| MUB iShares National Muni Bond E | Sold out | 0.00% | −4.62 |
| URA Global X Uranium ETF | Reduce -47.2% | 4.80% | −3.38 |
| BRFS BRF SA-ADR | Reduce -99.2% | 0.03% | −3.26 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Sold out | 0.00% | −3.04 |
| SUZ Suzano SA - Spon ADR | Sold out | 0.00% | −1.78 |
| CERE Cerevel Therapeutics Holding | Sold out | 0.00% | −1.57 |
| ACI Albertsons Cos Inc. Class A | Reduce -93.8% | 0.09% | −1.33 |
| PM Philip Morris International | Reduce -79.4% | 0.36% | −1.31 |
| DEO Diageo PLC-Sponsored ADR | Reduce -59.8% | 0.73% | −0.94 |
| TXNM TXNM Energy Inc. | Reduce -36.5% | 1.05% | −0.66 |
| XME SS SPDR S&P Metals Mining | Sold out | 0.00% | −0.59 |
| HYEM Vaneck Emrg MKTS Hi YLD | Sold out | 0.00% | −0.57 |
| EEM iShares MSCI Emerging Market | Sold out | 0.00% | −0.42 |
| EMBJ Embraer SA-Spon ADR | Sold out | 0.00% | −0.39 |
| SCHW Schwab (charles) Corp. | Sold out | 0.00% | −0.33 |
| MA Mastercard Inc. Class A | Reduce -88.2% | 0.05% | −0.33 |
| NYT New York Times Co. Class A | Sold out | 0.00% | −0.24 |
| SCCO Southern Copper Corp. | Sold out | 0.00% | −0.19 |
| IMGN Immunogen Inc. | Sold out | 0.00% | −0.19 |
| AVGO Broadcom Inc. | Sold out | 0.00% | −0.19 |
| CASY Casey's General Stores Inc. | Sold out | 0.00% | −0.19 |
| MUSA Murphy USA Inc. | Reduce -72.1% | 0.10% | −0.19 |
| LNG Cheniere Energy Inc. | Sold out | 0.00% | −0.17 |
| BILL Bill Holdings Inc. | Sold out | 0.00% | −0.16 |
| LOPE Grand Canyon Education Inc. | Sold out | 0.00% | −0.14 |
| BJ Bj's Wholesale Club Holdings | Sold out | 0.00% | −0.13 |
| CEG Constellation Energy | Sold out | 0.00% | −0.13 |
| FOXA Fox Corp. Class A | Sold out | 0.00% | −0.13 |
| PEG Public Service Enterprise GP | Reduce -72.2% | 0.06% | −0.13 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.12 |
| MSI Motorola Solutions Inc. | Sold out | 0.00% | −0.12 |
| LYB Lyondellbasell Indu Class A | Sold out | 0.00% | −0.12 |
| AMGN Amgen Inc. | Sold out | 0.00% | −0.11 |
| MO Altria Group Inc. | Reduce -69.3% | 0.06% | −0.11 |
| AMR Alpha Metallurgical Resource | Sold out | 0.00% | −0.11 |
| CF CF Industries Holdings Inc. | Reduce -61.4% | 0.08% | −0.11 |
| CHE Chemed Corp. | Sold out | 0.00% | −0.10 |
| AMH American Homes 4 Rent- A | Sold out | 0.00% | −0.10 |
| HUM Humana Inc. | Sold out | 0.00% | −0.10 |
| CIG Cia Energetica DE-Spon ADR | Reduce -81.2% | 0.03% | −0.10 |
| PAG Penske Automotive Group Inc. | Sold out | 0.00% | −0.10 |
| FCFS Firstcash Holdings Inc. | Sold out | 0.00% | −0.10 |
| ALV Autoliv Inc. | Sold out | 0.00% | −0.10 |
| OHI Omega Healthcare Investors | Sold out | 0.00% | −0.10 |
| DLB Dolby Laboratories Inc. Class A | Sold out | 0.00% | −0.10 |
| EXEL Exelixis Inc. | Sold out | 0.00% | −0.09 |
| RS Reliance Inc. | Reduce -50.2% | 0.16% | −0.09 |
| DELL Dell Technologies -C | Sold out | 0.00% | −0.09 |
| OLLI Ollie's Bargain Outlet Holdi | Sold out | 0.00% | −0.09 |
Portfolio Buys Q4 2023 → Q1 2024
| PXD Pioneer Natural Resources Co. | Add +31213.5% | 8.84% | +8.82 |
| HES Hess Corp. | New | 5.62% | +5.62 |
| AXONICS INC | New | 5.37% | +5.37 |
| MSFT Microsoft Corp. | Add +301.6% | 2.28% | +1.81 |
| CHTR Charter Communications Inc. Class A | New | 1.77% | +1.77 |
| GOOGL Alphabet Inc. Class A | Add +496.8% | 2.04% | +1.74 |
| CPRI Capri Holdings Ltd. | Add +68.8% | 3.98% | +1.53 |
| TECK Teck Resources Ltd.-CLS B | Add +2.8% | 8.34% | +1.32 |
| ARB Altshares Merger Arbitrage | Add +95.8% | 2.40% | +1.27 |
| AZUL S A | New | 0.93% | +0.93 |
| PBR Petroleo Brasileiro-Spon ADR | Add +3921.7% | 0.93% | +0.91 |
| V Visa Inc. Class A | Add +1777.2% | 0.88% | +0.84 |
| CSANY Cosan SA -ADR | Add +532.9% | 0.73% | +0.60 |
| AXIAY Axia Energia-ADR | New | 0.60% | +0.60 |
| X United States Steel Corp. | Add +150.1% | 1.03% | +0.57 |
| EWN iShares MSCI Netherlands ETF | Add +42.8% | 1.38% | +0.56 |
| PAGS Pagseguro Digital Ltd. Class A | New | 0.56% | +0.56 |
| LOMA Loma Negra Cia Ind-Spon ADR | New | 0.56% | +0.56 |
| XBI SS SPDR S&P Biotech ETF | New | 0.41% | +0.41 |
| COPX Global X Copper Miners ETF | New | 0.32% | +0.32 |
| ODFL Old Dominion Freight Line | Add +4135.3% | 0.21% | +0.20 |
| NTAP Netapp Inc. | Add +220.0% | 0.27% | +0.20 |
| AMZN Amazon.com Inc. | Add +219.7% | 0.25% | +0.18 |
| OKTA Okta Inc. | New | 0.18% | +0.18 |
| NWSA News Corp. Class A | Add +142.7% | 0.27% | +0.17 |
| EA Electronic Arts Inc. | Add +1352.4% | 0.18% | +0.17 |
| ETR Entergy Corp. | Add +140.5% | 0.24% | +0.15 |
| DTE DTE Energy Company | New | 0.14% | +0.14 |
| CMC Commercial Metals Co. | Add +392.9% | 0.17% | +0.14 |
| FR First Industrial Realty TR | New | 0.14% | +0.14 |
| NUE Nucor Corp. | Add +191.0% | 0.18% | +0.13 |
| EGP Eastgroup Properties Inc. | New | 0.12% | +0.12 |
| VNM Vaneck Vietnam ETF | New | 0.12% | +0.12 |
| EXP Eagle Materials Inc. | New | 0.11% | +0.11 |
| CVLT Commvault Systems Inc. | New | 0.11% | +0.11 |
| MAS Masco Corp. | Add +1123.8% | 0.11% | +0.10 |
| NFLX Netflix Inc. | Add +28.1% | 0.24% | +0.10 |
| RL Ralph Lauren Corp. | Add +97.2% | 0.15% | +0.10 |
| RHP Ryman Hospitality Properties | Add +66.6% | 0.21% | +0.10 |
| GDDY GoDaddy Inc. Class A | Add +524.2% | 0.11% | +0.09 |
| PBF PBF Energy Inc. Class A | Add +52.3% | 0.17% | +0.09 |
| JNPR Juniper Networks Inc. | Add +389.8% | 0.11% | +0.09 |
| AEO American Eagle Outfitters | New | 0.09% | +0.09 |
| SKX Skechers USA Inc. Class A | Add +451.2% | 0.10% | +0.09 |
| PVH PVH Corp. | Add +217.1% | 0.12% | +0.09 |
| BBY Best Buy Co. Inc. | Add +450.3% | 0.10% | +0.09 |
| MRK Merck & Co. Inc. | New | 0.08% | +0.08 |
| SPG Simon Property Group Inc. | New | 0.08% | +0.08 |
| BRX Brixmor Property Group Inc. | Add +206.2% | 0.12% | +0.08 |
| AAPL Apple Inc. | Add +78.7% | 0.20% | +0.08 |
Options Activity Q4 2023 → Q1 2024
| FXI iShares China Large-Cap ETF | put | New | 3,000,000 | $1.1M |
| NVDA Nvidia Corp. | put | New | 40,000 | $622K |
| PBR Petroleo Brasileiro-Spon ADR | put | New | 3,500,000 | $105K |
| ISHARES TR | put | Sold out | 20,000 | $1Kbefore exit |
| ISHARES TR | put | Sold out | 20,000 | $800before 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 | 51 | $1.3B | IVV, SPY, TSLA, AMZN, TSM |
| Q1 2026 | 48 | $530.9M | AMZN, IVV, EA, NVDA, VST |
| Q4 2025 | 35 | $522.4M | AMZN, KWEB, KRE, META, MSFT |
| Q3 2025 | 58 | $533.5M | KRE, AMZN, KWEB, MSFT, KVUE |
| Q2 2025 | 116 | $458.6M | AMZN, HES, KWEB, VRT, TSM |
| Q1 2025 | 82 | $492.8M | AMZN, HES, VST, TSM, KWEB |
| Q4 2024 | 274 | $149.5M | HES, RIO, DIS, MSFT, ALE |
| Q3 2024 | 155 | $409.4M | FXI, TECK, SUZ, HES, KWEB |
| Q2 2024 | 161 | $333.1M | FXI, TECK, HES, AXONICS INC, RIO |
| Q1 2024 | 256 | $453.9M | PXD, TECK, FXI, HES, AXONICS INC |