Kapitalo Investimentos Ltda
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 7, 2025), Kapitalo Investimentos Ltda reported 82 stock positions worth $492.8 million. Its top holding was Amazon.com (AMZN) at 20.6% of the portfolio, followed by Hess (HES, 8.0%) and Vistra (VST, 6.8%). Compared with Q4 2024, it opened 58 new positions, sold out of 250, added to 15 and reduced 7. The biggest buy was a new position in Amazon.com (AMZN) and the biggest sale Walt Disney (DIS, shares −6%).
- Most Recent 13F
- Q2 2026
- Location
- SAO PAULO, D5
- CIK
- 0001798686
- Portfolio Value
- $492.8M (Q1 2025)
- SEC Filing
- 0001798686-25-000004 ↗ filed May 7, 2025
Holdings Value
Holdings 82 stocks · $492.8M
| AMZN Amazon.com Inc. | 20.57% | 532,877 | $101.4M | New |
| HES Hess Corp. | 7.96% | 245,695 | $39.2M | Add +10.8% |
| VST Vistra Corp. | 6.76% | 283,485 | $33.3M | New |
| TSM Taiwan Semiconductor-SP ADR | 6.56% | 194,664 | $32.3M | New |
| KWEB Kranesh Csi China Internet | 6.49% | 916,000 | $32.0M | New |
| KBE SS SPDR S&P Bank ETF | 5.14% | 478,000 | $25.3M | New |
| TECK Teck Resources Ltd.-CLS B | 4.52% | 611,699 | $22.3M | New |
| FXI iShares China Large-Cap ETF | 4.16% | 571,800 | $20.5M | New |
| VRT Vertiv Holdings Co. Class A | 3.29% | 224,667 | $16.2M | New |
| GOOGL Alphabet Inc. Class A | 3.15% | 100,458 | $15.5M | New |
| RIO Rio Tinto PLC-Spon ADR | 3.15% | 258,000 | $15.5M | No change |
| ALE Allete Inc. | 3.10% | 232,417 | $15.3M | Add +72.3% |
| MSFT Microsoft Corp. | 2.85% | 37,425 | $14.0M | Add +33.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 2.43% | 121,100 | $12.0M | Reduce -5.7% |
| ITCI Intra-Cellular Therapies Inc. | 2.10% | 78,586 | $10.4M | New |
| EWY iShares MSCI South Korea ETF | 1.92% | 175,340 | $9.5M | New |
| CHX Championx Corp. | 1.55% | 256,009 | $7.6M | Add +297.9% |
| ERO Ero Copper Corp. | 1.42% | 578,718 | $7.0M | Reduce -0.0% |
| META Meta Platforms Inc. Class A | 1.27% | 10,885 | $6.3M | New |
| BAK Braskem SA Class A- ADR | 1.15% | 1,466,016 | $5.6M | Add +1136346.5% |
| NXE Nexgen Energy Ltd. | 0.95% | 1,039,050 | $4.7M | New |
| AXIAY Axia Energia-ADR filed as CENTRAIS ELETRICAS BRASILEIR | 0.85% | 588,811 | $4.2M | Add +3872.3% |
| LOMA Loma Negra Cia Ind-Spon ADR | 0.84% | 378,600 | $4.2M | New |
| SUZ Suzano SA - Spon ADR | 0.83% | 440,597 | $4.1M | Add +32.1% |
| WBA Walgreens Boots Alliance Inc. | 0.76% | 333,660 | $3.7M | New |
| BRFS BRF SA-ADR | 0.75% | 1,074,513 | $3.7M | Add +559.1% |
| CCJ Cameco Corp. | 0.71% | 85,367 | $3.5M | New |
| NOW ServiceNow Inc. | 0.70% | 4,350 | $3.5M | New |
| XP XP Inc. Class A | 0.63% | 225,664 | $3.1M | No change |
| SPR Spirit Aerosystems Hold Class A | 0.50% | 72,205 | $2.5M | New |
| EVEX Eve Holding Inc. filed as EVE HLDG INC | 0.33% | 492,285 | $1.6M | Reduce -1.5% |
| AZUL S A | 0.29% | 866,282 | $1.4M | Add +60.8% |
| NVDA Nvidia Corp. | 0.26% | 11,973 | $1.3M | Add +1204.3% |
| DNB Dun & Bradstreet Holdings Inc. | 0.24% | 132,684 | $1.2M | New |
| GGB Gerdau SA -Spon ADR | 0.09% | 158,682 | $451K | New |
| LYV Live Nation Entertainment Inc. | 0.09% | 3,259 | $426K | Reduce -18.3% |
| FOXA Fox Corp. Class A | 0.07% | 5,701 | $323K | Reduce -66.5% |
| IIIV I3 Verticals Inc. Class A | 0.06% | 11,873 | $293K | New |
| FLO Flowers Foods Inc. | 0.06% | 15,370 | $292K | New |
| REX Rex American Resources Corp. | 0.06% | 7,722 | $290K | New |
| MO Altria Group Inc. | 0.06% | 4,792 | $288K | Reduce -70.1% |
| SPG Simon Property Group Inc. | 0.06% | 1,703 | $283K | Add +160.4% |
| SXC Suncoke Energy Inc. | 0.05% | 28,604 | $263K | New |
| SLVM Sylvamo Corp. | 0.05% | 3,921 | $263K | New |
| RES RPC Inc. | 0.05% | 46,872 | $258K | New |
| EXC Exelon Corp. | 0.05% | 5,386 | $248K | Reduce -30.1% |
| JWN Nordstrom Inc. | 0.05% | 9,981 | $244K | New |
| DDS Dillards Inc. Class A | 0.05% | 667 | $239K | Add +37.2% |
| KR Kroger Co. | 0.05% | 3,518 | $238K | Add +75.0% |
| CORT Corcept Therapeutics Inc. | 0.05% | 2,080 | $238K | New |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.05% | 3,005 | $235K | New |
| IDT Idt Corp. Class B | 0.05% | 4,537 | $233K | New |
| NRG NRG Energy Inc. | 0.05% | 2,429 | $232K | Add +124.5% |
| BTU Peabody Energy Corp. | 0.05% | 16,938 | $230K | New |
| BBY Best Buy Co. Inc. | 0.05% | 3,066 | $226K | New |
| REG Regency Centers Corp. | 0.04% | 2,992 | $221K | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.04% | 386 | $216K | New |
| GOOD Gladstone Commercial Corp. | 0.04% | 14,318 | $214K | New |
| PPC Pilgrim's Pride Corp. | 0.04% | 3,757 | $205K | New |
| CART Maplebear Inc. | 0.04% | 5,021 | $200K | New |
| QNST Quinstreet Inc. | 0.04% | 10,323 | $184K | New |
| OSPN Onespan Inc. | 0.04% | 12,029 | $183K | New |
| MGNI Magnite Inc. | 0.04% | 15,975 | $182K | New |
| AES AES Corp. | 0.03% | 13,098 | $163K | New |
| LGF.B Lions Gate Entertainment-B | 0.03% | 19,241 | $152K | New |
| OLPX Olaplex Holdings Inc. | 0.03% | 97,027 | $123K | New |
| SCS Steelcase Inc. Class A | 0.02% | 11,023 | $121K | New |
| CLOV Clover Health Investments Co. | 0.02% | 27,889 | $100K | New |
| CRCT Cricut Inc. Class A | 0.02% | 18,853 | $97K | New |
| CURV Torrid Holdings Inc. | 0.02% | 17,306 | $95K | New |
| LFST Lifestance Health Group Inc. | 0.02% | 13,094 | $87K | New |
| FUBO Fubotv Inc. | 0.02% | 27,467 | $80K | New |
| FPH Five Point Holdings LLC Class A | 0.02% | 14,761 | $79K | New |
| ULCC Frontier Group Holdings Inc. | 0.02% | 17,750 | $77K | New |
| NCMI National Cinemedia Inc. | 0.01% | 10,862 | $63K | New |
| HBI Hanesbrands Inc. | 0.01% | 10,587 | $61K | New |
| CDE Coeur Mining Inc. | 0.01% | 10,153 | $60K | New |
| BFLY Butterfly Network Inc. | 0.01% | 21,902 | $50K | New |
| SID Cia Siderurgica Nacl-SP ADR filed as COMPANHIA SIDERURGICA NACION | 0.01% | 25,979 | $43K | Add +1530.8% |
| WOOF Petco Health and Wellness Co. | 0.01% | 12,168 | $37K | New |
| SLQT Selectquote Inc. | 0.01% | 10,393 | $35K | New |
| OPEN Opendoor Technologies Inc. | 0.01% | 31,848 | $32K | New |
Options reported separately and not counted above: EWZ puts ($233K), AMZN calls ($98K).
Portfolio Sells Q4 2024 → Q1 2025
| DIS The Walt Disney Co. | Reduce -5.7% | 2.43% | −7.14 |
| ACI Albertsons Cos Inc. Class A | Sold out | 0.00% | −5.76 |
| ERO Ero Copper Corp. | Reduce -0.0% | 1.42% | −3.80 |
| EVEX Eve Holding Inc. | Reduce -1.5% | 0.33% | −1.49 |
| EMBJ Embraer SA-Spon ADR | Sold out | 0.00% | −0.98 |
| MO Altria Group Inc. | Reduce -70.1% | 0.06% | −0.50 |
| FOXA Fox Corp. Class A | Reduce -66.5% | 0.07% | −0.49 |
| OVV Ovintiv Inc. | Sold out | 0.00% | −0.43 |
| EOG EOG Resources Inc. | Sold out | 0.00% | −0.40 |
| XOM Exxon Mobil Corp. | Sold out | 0.00% | −0.36 |
| EXEL Exelixis Inc. | Sold out | 0.00% | −0.31 |
| UGI Ugi Corp. | Sold out | 0.00% | −0.31 |
| HOLX Hologic Inc. | Sold out | 0.00% | −0.30 |
| OHI Omega Healthcare Investors | Sold out | 0.00% | −0.30 |
| COP Conocophillips | Sold out | 0.00% | −0.30 |
| LNG Cheniere Energy Inc. | Sold out | 0.00% | −0.29 |
| ATR Aptargroup Inc. | Sold out | 0.00% | −0.28 |
| ADC Agree Realty Corp. | Sold out | 0.00% | −0.28 |
| ATO Atmos Energy Corp. | Sold out | 0.00% | −0.27 |
| COR Cencora Inc. | Sold out | 0.00% | −0.27 |
| LUMN Lumen Technologies Inc. | Sold out | 0.00% | −0.26 |
| WELL Welltower Inc. | Sold out | 0.00% | −0.26 |
| LYV Live Nation Entertainment Inc. | Reduce -18.3% | 0.09% | −0.26 |
| VTR Ventas Inc. | Sold out | 0.00% | −0.25 |
| TIMB Tim SA-ADR | Sold out | 0.00% | −0.24 |
| KMB Kimberly-Clark Corp. | Sold out | 0.00% | −0.24 |
| MSI Motorola Solutions Inc. | Sold out | 0.00% | −0.24 |
| JNJ Johnson & Johnson | Sold out | 0.00% | −0.23 |
| NWSA News Corp. Class A | Sold out | 0.00% | −0.23 |
| ELS Equity Lifestyle Properties | Sold out | 0.00% | −0.23 |
| CACI Caci International Inc. Class A | Sold out | 0.00% | −0.22 |
| XLB SS Materials Select Sector | Sold out | 0.00% | −0.22 |
| ARCC Ares Capital Corp. | Sold out | 0.00% | −0.21 |
| PPL PPL Corp. | Sold out | 0.00% | −0.20 |
| INCY Incyte Corp. | Sold out | 0.00% | −0.20 |
| CAH Cardinal Health Inc. | Sold out | 0.00% | −0.20 |
| TXRH Texas Roadhouse Inc. | Sold out | 0.00% | −0.19 |
| AXTA Axalta Coating Systems Ltd. | Sold out | 0.00% | −0.19 |
| AIT Applied Industrial Tech Inc. | Sold out | 0.00% | −0.19 |
| CMC Commercial Metals Co. | Sold out | 0.00% | −0.19 |
| CHWY Chewy Inc. Class A | Sold out | 0.00% | −0.19 |
| PARAA Paramount Global Class B | Sold out | 0.00% | −0.18 |
| AWI Armstrong World Industries | Sold out | 0.00% | −0.18 |
| CSCO Cisco Systems Inc. | Sold out | 0.00% | −0.18 |
| CTRA Coterra Energy Inc. | Sold out | 0.00% | −0.18 |
| KIM Kimco Realty Corp. | Sold out | 0.00% | −0.18 |
| EME Emcor Group Inc. | Sold out | 0.00% | −0.17 |
| COKE Coca-Cola Consolidated Inc. | Sold out | 0.00% | −0.17 |
| CPNG Coupang Inc. | Sold out | 0.00% | −0.17 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Sold out | 0.00% | −0.17 |
Portfolio Buys Q4 2024 → Q1 2025
| AMZN Amazon.com Inc. | New | 20.57% | +20.57 |
| VST Vistra Corp. | New | 6.76% | +6.76 |
| TSM Taiwan Semiconductor-SP ADR | New | 6.56% | +6.56 |
| KWEB Kranesh Csi China Internet | New | 6.49% | +6.49 |
| KBE SS SPDR S&P Bank ETF | New | 5.14% | +5.14 |
| TECK Teck Resources Ltd.-CLS B | New | 4.52% | +4.52 |
| FXI iShares China Large-Cap ETF | New | 4.16% | +4.16 |
| VRT Vertiv Holdings Co. Class A | New | 3.29% | +3.29 |
| GOOGL Alphabet Inc. Class A | New | 3.15% | +3.15 |
| ITCI Intra-Cellular Therapies Inc. | New | 2.10% | +2.10 |
| EWY iShares MSCI South Korea ETF | New | 1.92% | +1.92 |
| META Meta Platforms Inc. Class A | New | 1.27% | +1.27 |
| BAK Braskem SA Class A- ADR | Add +1136346.5% | 1.15% | +1.14 |
| NXE Nexgen Energy Ltd. | New | 0.95% | +0.95 |
| LOMA Loma Negra Cia Ind-Spon ADR | New | 0.84% | +0.84 |
| AXIAY Axia Energia-ADR | Add +3872.3% | 0.85% | +0.79 |
| WBA Walgreens Boots Alliance Inc. | New | 0.76% | +0.76 |
| CCJ Cameco Corp. | New | 0.71% | +0.71 |
| NOW ServiceNow Inc. | New | 0.70% | +0.70 |
| SPR Spirit Aerosystems Hold Class A | New | 0.50% | +0.50 |
| CHX Championx Corp. | Add +297.9% | 1.55% | +0.38 |
| BRFS BRF SA-ADR | Add +559.1% | 0.75% | +0.31 |
| DNB Dun & Bradstreet Holdings Inc. | New | 0.24% | +0.24 |
| NVDA Nvidia Corp. | Add +1204.3% | 0.26% | +0.18 |
| GGB Gerdau SA -Spon ADR | New | 0.09% | +0.09 |
| IIIV I3 Verticals Inc. Class A | New | 0.06% | +0.06 |
| FLO Flowers Foods Inc. | New | 0.06% | +0.06 |
| REX Rex American Resources Corp. | New | 0.06% | +0.06 |
| SXC Suncoke Energy Inc. | New | 0.05% | +0.05 |
| SLVM Sylvamo Corp. | New | 0.05% | +0.05 |
| RES RPC Inc. | New | 0.05% | +0.05 |
| JWN Nordstrom Inc. | New | 0.05% | +0.05 |
| CORT Corcept Therapeutics Inc. | New | 0.05% | +0.05 |
| CF CF Industries Holdings Inc. | New | 0.05% | +0.05 |
| IDT Idt Corp. Class B | New | 0.05% | +0.05 |
| BTU Peabody Energy Corp. | New | 0.05% | +0.05 |
| BBY Best Buy Co. Inc. | New | 0.05% | +0.05 |
| REG Regency Centers Corp. | New | 0.04% | +0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | New | 0.04% | +0.04 |
| GOOD Gladstone Commercial Corp. | New | 0.04% | +0.04 |
| PPC Pilgrim's Pride Corp. | New | 0.04% | +0.04 |
| CART Maplebear Inc. | New | 0.04% | +0.04 |
| QNST Quinstreet Inc. | New | 0.04% | +0.04 |
| OSPN Onespan Inc. | New | 0.04% | +0.04 |
| MGNI Magnite Inc. | New | 0.04% | +0.04 |
| AES AES Corp. | New | 0.03% | +0.03 |
| LGF.B Lions Gate Entertainment-B | New | 0.03% | +0.03 |
| OLPX Olaplex Holdings Inc. | New | 0.03% | +0.03 |
| SCS Steelcase Inc. Class A | New | 0.02% | +0.02 |
| CLOV Clover Health Investments Co. | New | 0.02% | +0.02 |
Options Activity Q4 2024 → Q1 2025
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 |