Kapitalo Investimentos Ltda
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 7, 2026), Kapitalo Investimentos Ltda reported 48 stock positions worth $530.9 million. Its top holding was Amazon.com (AMZN) at 9.6% of the portfolio, followed by iShares Core S&P 500 ETF (IVV, 8.5%) and Electronic Arts (EA, 8.2%). Compared with Q4 2025, it opened 25 new positions, sold out of 12, added to 8 and reduced 10. The biggest buy was a new position in iShares Core S&P 500 ETF (IVV) and the biggest sale Amazon.com (AMZN, shares −57%).
- Most Recent 13F
- Q2 2026
- Location
- SAO PAULO, D5
- CIK
- 0001798686
- Portfolio Value
- $530.9M (Q1 2026)
- SEC Filing
- 0001798686-26-000003 ↗ filed May 7, 2026
Holdings Value
Holdings 48 stocks · $530.9M
| AMZN Amazon.com Inc. | 9.61% | 245,065 | $51.0M | Reduce -56.6% |
| IVV iShares Core S&P 500 ETF | 8.52% | 69,214 | $45.2M | New |
| EA Electronic Arts Inc. | 8.19% | 213,193 | $43.5M | Add +122.0% |
| NVDA Nvidia Corp. | 7.54% | 229,384 | $40.0M | New |
| VST Vistra Corp. | 6.17% | 217,838 | $32.7M | Add +107.5% |
| GTLS Chart Industries Inc. | 5.58% | 143,375 | $29.6M | New |
| ERO Ero Copper Corp. | 5.41% | 1,076,696 | $28.7M | No change |
| META Meta Platforms Inc. Class A | 4.74% | 43,993 | $25.2M | Reduce -22.3% |
| HOLX Hologic Inc. | 4.04% | 283,575 | $21.4M | New |
| AES AES Corp. | 3.76% | 1,415,635 | $19.9M | New |
| TECK Teck Resources Ltd.-CLS B | 3.44% | 352,859 | $18.3M | Add +16.5% |
| MSFT Microsoft Corp. | 2.70% | 38,750 | $14.3M | Reduce -45.7% |
| RIO Rio Tinto PLC-Spon ADR | 2.24% | 127,754 | $11.9M | No change |
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 2.24% | 257,612 | $11.9M | Add +0.2% |
| WBD Warner Bros Discovery Inc. | 2.24% | 432,903 | $11.9M | New |
| SUZ Suzano SA - Spon ADR | 2.06% | 1,094,733 | $11.0M | Add +39.5% |
| VALE Vale SA-SP ADR | 1.97% | 657,036 | $10.5M | New |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 1.88% | 696,041 | $10.0M | New |
| GGB Gerdau SA -Spon ADR | 1.81% | 2,664,158 | $9.6M | New |
| EMBJ Embraer SA-Spon ADR | 1.47% | 131,197 | $7.8M | Add +32.0% |
| CWAN Clearwater Analytics HDS-A | 1.44% | 324,166 | $7.7M | New |
| DBRG Digitalbridge Group Inc. | 1.31% | 450,328 | $6.9M | New |
| ECH iShares MSCI Chile ETF | 1.19% | 159,131 | $6.3M | New |
| CSGS CSG Systems Intl Inc. | 1.16% | 77,074 | $6.2M | New |
| SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI | 0.97% | 168,403 | $5.1M | New |
| UGP Ultrapar Particpac-Spon ADR | 0.95% | 915,468 | $5.0M | Add +4.6% |
| XP XP Inc. Class A | 0.81% | 225,664 | $4.3M | No change |
| LOMA Loma Negra Cia Ind-Spon ADR | 0.79% | 378,600 | $4.2M | Reduce -0.6% |
| BHF Brighthouse Financial Inc. | 0.76% | 67,400 | $4.0M | New |
| WBS Webster Financial Corp. | 0.68% | 51,913 | $3.6M | New |
| FXI iShares China Large-Cap ETF | 0.53% | 77,718 | $2.8M | No change |
| EVEX Eve Holding Inc. filed as EVE HLDG INC | 0.51% | 1,100,000 | $2.7M | No change |
| EPU iShares MSCI Peru and Global | 0.41% | 27,130 | $2.2M | New |
| PBR Petroleo Brasileiro-Spon ADR | 0.41% | 103,621 | $2.2M | New |
| AXIAY Axia Energia-ADR filed as CENTRAIS ELET BRAS SA | 0.40% | 187,303 | $2.1M | Add +146.9% |
| VIV Telefonica Brasil-ADR | 0.37% | 123,667 | $2.0M | Reduce -65.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.30% | 4,784 | $1.6M | Reduce -37.6% |
| SLAB Silicon Laboratories Inc. | 0.27% | 6,867 | $1.4M | New |
| AAPL Apple Inc. | 0.21% | 4,475 | $1.1M | New |
| DELL Dell Technologies -C | 0.19% | 6,200 | $1.0M | New |
| KVUE Kenvue Inc. | 0.18% | 56,000 | $965K | Reduce -97.2% |
| ACLX Arcellx Inc. | 0.17% | 7,978 | $916K | New |
| SE Sea Ltd.-ADR | 0.07% | 4,260 | $353K | New |
| BKNG Booking Holdings Inc. | 0.07% | 82 | $345K | New |
| V Visa Inc. Class A | 0.06% | 1,070 | $323K | Reduce -90.0% |
| SPGI S&P Global Inc. | 0.06% | 745 | $317K | New |
| MA Mastercard Inc. Class A | 0.06% | 625 | $312K | Reduce -89.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.06% | 3,220 | $310K | Reduce -90.2% |
Options reported separately and not counted above: IWM puts ($129K), IWM calls ($125K), PBR puts ($96K), AMZN calls ($77K), FXI puts ($72K), PBR calls ($67K), NVDA calls ($15K), FXI calls ($9K), SPY puts ($4K).
Portfolio Sells Q4 2025 → Q1 2026
| AMZN Amazon.com Inc. | Reduce -56.6% | 9.61% | −15.35 |
| KWEB Kranesh Csi China Internet | Sold out | 0.00% | −11.30 |
| KRE SS SPDR S&P Regional Bank | Sold out | 0.00% | −9.96 |
| KVUE Kenvue Inc. | Reduce -97.2% | 0.18% | −6.42 |
| MSFT Microsoft Corp. | Reduce -45.7% | 2.70% | −3.91 |
| META Meta Platforms Inc. Class A | Reduce -22.3% | 4.74% | −2.42 |
| EXAS Exact Sciences Corp. | Sold out | 0.00% | −1.25 |
| V Visa Inc. Class A | Reduce -90.0% | 0.06% | −0.66 |
| DIS The Walt Disney Co. | Reduce -90.2% | 0.06% | −0.66 |
| TGNA Tegna Inc. | Sold out | 0.00% | −0.63 |
| MA Mastercard Inc. Class A | Reduce -89.9% | 0.06% | −0.61 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.56 |
| TEAM Atlassian Corp. Class A | Sold out | 0.00% | −0.49 |
| DAY Dayforce Inc. | Sold out | 0.00% | −0.45 |
| TXNM TXNM Energy Inc. | Sold out | 0.00% | −0.45 |
| VIV Telefonica Brasil-ADR | Reduce -65.2% | 0.37% | −0.44 |
| ABEV Ambev SA-ADR | Sold out | 0.00% | −0.31 |
| LOMA Loma Negra Cia Ind-Spon ADR | Reduce -0.6% | 0.79% | −0.15 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -37.6% | 0.30% | −0.14 |
| ZM Zoom Communications Inc. | Sold out | 0.00% | −0.05 |
| GGAL Grupo Financiero Galicia-ADR | Sold out | 0.00% | −0.04 |
| SID Cia Siderurgica Nacl-SP ADR | Sold out | 0.00% | −0.02 |
Portfolio Buys Q4 2025 → Q1 2026
| IVV iShares Core S&P 500 ETF | New | 8.52% | +8.52 |
| NVDA Nvidia Corp. | New | 7.54% | +7.54 |
| GTLS Chart Industries Inc. | New | 5.58% | +5.58 |
| EA Electronic Arts Inc. | Add +122.0% | 8.19% | +4.43 |
| HOLX Hologic Inc. | New | 4.04% | +4.04 |
| AES AES Corp. | New | 3.76% | +3.76 |
| VST Vistra Corp. | Add +107.5% | 6.17% | +2.93 |
| WBD Warner Bros Discovery Inc. | New | 2.24% | +2.24 |
| VALE Vale SA-SP ADR | New | 1.97% | +1.97 |
| NU Nu Holdings Ltd./Cayman Isl-A | New | 1.88% | +1.88 |
| GGB Gerdau SA -Spon ADR | New | 1.81% | +1.81 |
| CWAN Clearwater Analytics HDS-A | New | 1.44% | +1.44 |
| DBRG Digitalbridge Group Inc. | New | 1.31% | +1.31 |
| ECH iShares MSCI Chile ETF | New | 1.19% | +1.19 |
| CSGS CSG Systems Intl Inc. | New | 1.16% | +1.16 |
| SBS Cia Saneamento Basico DE-ADR | New | 0.97% | +0.97 |
| BHF Brighthouse Financial Inc. | New | 0.76% | +0.76 |
| WBS Webster Financial Corp. | New | 0.68% | +0.68 |
| TECK Teck Resources Ltd.-CLS B | Add +16.5% | 3.44% | +0.66 |
| SUZ Suzano SA - Spon ADR | Add +39.5% | 2.06% | +0.66 |
| YPF YPF S.A.-Sponsored ADR | Add +0.2% | 2.24% | +0.46 |
| EPU iShares MSCI Peru and Global | New | 0.41% | +0.41 |
| PBR Petroleo Brasileiro-Spon ADR | New | 0.41% | +0.41 |
| UGP Ultrapar Particpac-Spon ADR | Add +4.6% | 0.95% | +0.32 |
| SLAB Silicon Laboratories Inc. | New | 0.27% | +0.27 |
| AXIAY Axia Energia-ADR | Add +146.9% | 0.40% | +0.26 |
| EMBJ Embraer SA-Spon ADR | Add +32.0% | 1.47% | +0.24 |
| AAPL Apple Inc. | New | 0.21% | +0.21 |
| DELL Dell Technologies -C | New | 0.19% | +0.19 |
| ACLX Arcellx Inc. | New | 0.17% | +0.17 |
| SE Sea Ltd.-ADR | New | 0.07% | +0.07 |
| BKNG Booking Holdings Inc. | New | 0.07% | +0.07 |
| SPGI S&P Global Inc. | New | 0.06% | +0.06 |
Options Activity Q4 2025 → Q1 2026
| IWM iShares Russell 2000 ETF | put | New | 300,000 | $129K |
| IWM iShares Russell 2000 ETF | call | New | 500,000 | $125K |
| PBR Petroleo Brasileiro-Spon ADR | put | New | 100,000 | $96K |
| AMZN Amazon.com Inc. | call | New | 196,800 | $77K |
| PLTR Palantir Technologies Inc. Class A | call | Sold out | 200,000 | $74Kbefore exit |
| EWZ iShares MSCI Brazil ETF | call | Sold out | 900,000 | $72Kbefore exit |
| FXI iShares China Large-Cap ETF | put | New | 600,000 | $72K |
| PBR Petroleo Brasileiro-Spon ADR | call | New | 100,000 | $67K |
| NVDA Nvidia Corp. | call | New | 99,000 | $15K |
| FXI iShares China Large-Cap ETF | call | New | 300,000 | $9K |
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 16,000 | $4K |
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 |