SPX Gestao de Recursos Ltda

13F filer · CIK 0001589176

Reported Aug 19, 2026

Net seller this quarter

13F portfolio value$898MU.S. long equity reported on 13F

Positions7540 new · 27 closed

Net flow last quarter-$71.8MBuys minus sells

Top 10 positions weight49.4%Concentration

Holdings

13F · last 4 quarters free

Scroll for earlier quarters

Company	Value	% of portfolio	% of company	POSITION CHANGE qoq %	First reported
Q2 2026Reported Aug 19, 202675 positions
XPXP Inc.	$78.3M	8.72%	Not reported	+305.5%	Q4 2019
LTMLatam Airlines Group S.A.	$61M	6.79%	0.00%	+18.7%	Q3 2024
TGSGas Transporter of the South Inc	$54M	6.01%	0.24%	+77.1%	Q1 2015
PAMPampa Energy Inc.	$45M	5.01%	0.04%	+234.7%	Q1 2015
VINPVinci Compass Investments Ltd.	$43.2M	4.81%	Not reported	-4.9%	Q2 2023
ARCOArcos Dorados Holdings Inc.	$36.3M	4.04%	2.14%	-24.3%	Q4 2014
STNEStoneCo Ltd.	$32.6M	3.63%	Not reported	-61.1%	Q1 2023
EMBJEmbraer S.A.	$32.1M	3.58%	0.07%	+42.4%	Q4 2012
BBDBank Bradesco	$30.8M	3.43%	0.30%	-19.8%	Q1 2013
TEOTelecom Argentina SA	$30.2M	3.36%	Not reported	+216.7%	Q3 2016
HALHalliburton Co	$29.8M	3.31%	0.10%	Not reported	Q4 2022
RIORio Tinto PLC	$29.3M	3.26%	0.02%	+534.3%	Q4 2012
MSFTMicrosoft Corp	$24M	2.68%	0.00%	Not reported	Q1 2014
IFSIntercorp Financial Services Inc.	$22.9M	2.55%	0.36%	+200673.0%	Q1 2026
NVDANvidia Corp	$22.6M	2.51%	0.00%	-57.2%	Q3 2023
GOOGLAlphabet Inc.	$21.9M	2.44%	0.00%	Not reported	Q2 2020
FCXFreeport-Mcmoran Inc	$21.6M	2.41%	0.02%	Not reported	Q1 2013
MUMicron Technology Inc	$19.7M	2.20%	0.00%	+7845.6%	Q2 2024
INTRInter & Co, Inc.	$18.5M	2.07%	1.49%	-15.1%	Q4 2022
BAPCredicorp Ltd	$17.1M	1.91%	0.05%	-34.8%	Q3 2015
MAMastercard Inc	$16.3M	1.81%	0.00%	New	Q2 2026
VVisa Inc.	$15.6M	1.74%	0.00%	New	Q2 2026
METAMeta Platforms, Inc.	$14.7M	1.63%	Not reported	+206.9%	Q1 2023
PBR.APetrobras - Petroleo Brasileiro SA	$14.5M	1.62%	Not reported	-85.6%	Q4 2012
AMZNAmazon Com Inc	$14.5M	1.61%	0.00%	-3.0%	Q3 2023
TSMTaiwan Semiconductor Manufacturing Co Ltd	$13.7M	1.52%	0.00%	-51.7%	Q1 2024
BSACBanco Santander Chile	$11.1M	1.23%	0.00%	+496.2%	Q1 2015
CIBGrupo Cibest S.A.	$7.84M	0.87%	0.02%	+507.9%	Q1 2026
LITELumentum Holdings Inc.	$7.62M	0.85%	0.01%	New	Q2 2026
WDCWestern Digital Corp	$7.22M	0.80%	0.00%	Not reported	Q1 2024
COHRCoherent Corp.	$6.61M	0.74%	0.01%	Not reported	Q3 2025
VALEVale S.A.	$5.99M	0.67%	0.01%	-92.8%	Q4 2012
ELPCEnergy Co of Parana	$5.43M	0.61%	0.02%	-48.3%	Q4 2023
AAOIApplied Optoelectronics, Inc.	$5.26M	0.59%	0.04%	Not reported	Q1 2026
STXSeagate Technology Holdings plc	$5.02M	0.56%	0.00%	New	Q2 2026
GGALGrupo Financiero Galicia SA	$4.25M	0.47%	Not reported	Not reported	Q1 2015
SPOTSpotify Technology S.A.	$3.96M	0.44%	0.00%	Not reported	Q4 2024
ITUBItau Unibanco Holding S.A.	$3.91M	0.44%	0.01%	Not reported	Q4 2012
ONONOn Holding AG	$3.84M	0.43%	0.04%	Not reported	Q1 2023
BKNGBooking Holdings Inc.	$3.56M	0.40%	0.00%	New	Q2 2026
AVGOBroadcom Inc.	$2.68M	0.30%	0.00%	Not reported	Q3 2025
AAPLApple Inc.	$2.26M	0.25%	0.00%	Not reported	Q4 2012
SBSCompanhia de Saneamento Basico Do Estado de Sao Paulo-Sabesp	$2.04M	0.23%	0.01%	-60.4%	Q4 2014
UGPUltrapar Holdings Inc	$1.9M	0.21%	0.04%	-27.2%	Q4 2018
TERTeradyne, Inc	$1.87M	0.21%	0.00%	New	Q2 2026
SNSharkNinja, Inc.	$1.8M	0.20%	0.01%	-88.7%	Q1 2025
ACMRACM Research, Inc.	$1.75M	0.20%	0.03%	New	Q2 2026
BMAMacro Bank Inc.	$1.72M	0.19%	0.00%	Not reported	Q2 2014
ORCLOracle Corp	$1.67M	0.19%	0.00%	Not reported	Q1 2014
COSTCostco Wholesale Corp	$1.5M	0.17%	0.00%	Not reported	Q1 2020

Q1 2026Reported May 6, 202662 positions
PBR.APetrobras - Petroleo Brasileiro SA	$129M	10.70%	Not reported	+486.1%	Q4 2012
STNEStoneCo Ltd.	$109M	9.06%	Not reported	+47.6%	Q1 2023
VALEVale S.A.	$88.1M	7.32%	0.17%	+1302.4%	Q4 2012
VINPVinci Compass Investments Ltd.	$49.3M	4.09%	Not reported	+16.8%	Q2 2023
ARCOArcos Dorados Holdings Inc.	$49.1M	4.08%	2.82%	-21.2%	Q4 2014
NVDANvidia Corp	$45.9M	3.81%	0.00%	+1715.2%	Q3 2023
LTMLatam Airlines Group S.A.	$43.6M	3.62%	0.00%	+168.5%	Q3 2024
BBDBank Bradesco	$40.3M	3.35%	0.37%	+221.5%	Q1 2013
NUNu Holdings Ltd.	$36.9M	3.07%	Not reported	Not reported	Q2 2023
PBRPetrobras - Petroleo Brasileiro SA	$36M	2.99%	0.02%	-64.6%	Q4 2012
TGSGas Transporter of the South Inc	$35.5M	2.95%	0.14%	-15.1%	Q1 2015
INTRInter & Co, Inc.	$32M	2.66%	1.76%	+1059.2%	Q4 2022
CPACopa Holdings, S.A.	$25.5M	2.12%	0.55%	-42.9%	Q1 2017
BAPCredicorp Ltd	$22.9M	1.90%	0.07%	-66.1%	Q3 2015
XPXP Inc.	$22.6M	1.88%	Not reported	-71.7%	Q4 2019
EMBJEmbraer S.A.	$21M	1.74%	0.05%	Not reported	Q4 2012
TSMTaiwan Semiconductor Manufacturing Co Ltd	$20M	1.66%	0.00%	Not reported	Q1 2024
BPBP PLC	$16.7M	1.38%	Not reported	-32.3%	Q4 2019
GGBGerdau S.A.	$15.4M	1.28%	0.59%	-13.1%	Q4 2013
PAMPampa Energy Inc.	$14.5M	1.20%	0.01%	Not reported	Q1 2015
AMZNAmazon Com Inc	$13M	1.08%	0.00%	+93.0%	Q3 2023
SNSharkNinja, Inc.	$11M	0.92%	0.07%	Not reported	Q1 2025
ELPCEnergy Co of Parana	$10.8M	0.89%	0.03%	-1.7%	Q4 2023
AAAlcoa Corp	$10.3M	0.86%	0.06%	New	Q1 2026
TEOTelecom Argentina SA	$8.57M	0.71%	Not reported	Not reported	Q3 2016
CPAYCorpay, Inc.	$8.51M	0.71%	0.04%	Not reported	Q1 2025
AXICYAXIA Energia S.A.	$7.31M	0.61%	Not reported	-1.6%	Q4 2025
CEPUCentral Puerto S.A.	$6.08M	0.51%	0.02%	Not reported	Q1 2017
EVEXEve Holding, Inc.	$5.69M	0.47%	0.66%	-19.4%	Q4 2022
GRNDGrindr Inc.	$5.51M	0.46%	0.26%	+13.4%	Q1 2025
SBSCompanhia de Saneamento Basico Do Estado de Sao Paulo-Sabesp	$5.43M	0.45%	0.03%	-48.9%	Q4 2014
SHELShell plc	$4.86M	0.40%	0.00%	Not reported	Q4 2022
METAMeta Platforms, Inc.	$4.85M	0.40%	Not reported	+90.1%	Q1 2023
RIORio Tinto PLC	$4.54M	0.38%	0.00%	-89.6%	Q4 2012
OWLBlue Owl Capital Inc.	$4.47M	0.37%	7.12%	Not reported	Q1 2025
LUXELuxExperience B.V.	$4.19M	0.35%	0.38%	Not reported	Q1 2025
CEPTCantor Equity Partners II, Inc.	$3.32M	0.28%	Not reported	Not reported	Q2 2025
CTLPCantaloupe, Inc.	$3.23M	0.27%	Not reported	Not reported	Q1 2025
CORZCore Scientific, Inc./tx	$3.07M	0.26%	0.06%	+95.9%	Q1 2025
UGPUltrapar Holdings Inc	$2.86M	0.24%	0.05%	-10.9%	Q4 2018
TLNTalen Energy Corp	$2.39M	0.20%	0.02%	-21.1%	Q3 2024
SOLSSolstice Advanced Materials Inc.	$2.25M	0.19%	0.02%	New	Q1 2026
PGYPagaya Technologies Ltd.	$2.1M	0.17%	Not reported	+49.7%	Q1 2025
TDGTransDigm Group INC	$2.06M	0.17%	0.00%	+27.1%	Q1 2025
BSACBanco Santander Chile	$1.89M	0.16%	0.00%	Not reported	Q1 2015
CIBGrupo Cibest S.A.	$1.18M	0.10%	0.00%	New	Q1 2026
NYAXNayax Ltd.	$1.15M	0.10%	0.06%	-14.3%	Q1 2025
JBLJabil Inc	$1.06M	0.09%	0.00%	New	Q1 2026
IRENIREN Ltd	$992K	0.08%	0.01%	+65.4%	Q3 2025
CIGEnergy Co of Minas Gerais	$880K	0.07%	0.06%	+3.8%	Q4 2012

Q4 2025Reported Feb 13, 202658 positions
STNEStoneCo Ltd.	$77.4M	7.91%	Not reported	+1054.8%	Q1 2023
XPXP Inc.	$68.7M	7.02%	Not reported	+109.7%	Q4 2019
PBRPetrobras - Petroleo Brasileiro SA	$57.9M	5.92%	0.07%	-38.3%	Q4 2012
BAPCredicorp Ltd	$57.1M	5.84%	0.21%	+54.8%	Q3 2015
SPYSPDR S&P 500 ETF Trust	$55.5M	5.67%	Not reported	Not reported	Q2 2017
ARCOArcos Dorados Holdings Inc.	$55.4M	5.66%	3.58%	+19.1%	Q4 2014
FSLRFirst Solar, Inc.	$53.4M	5.45%	0.19%	+75.7%	Q3 2023
VINPVinci Compass Investments Ltd.	$52.2M	5.33%	Not reported	-0.9%	Q2 2023
CPACopa Holdings, S.A.	$47.5M	4.85%	0.96%	-3.2%	Q1 2017
AUGOAura Minerals Inc.	$44.2M	4.52%	1.05%	+8.9%	Q3 2025
TGSGas Transporter of the South Inc	$37.5M	3.83%	0.16%	+108.7%	Q1 2015
RIORio Tinto PLC	$37.5M	3.83%	0.04%	-27.6%	Q4 2012
MUMicron Technology Inc	$25.7M	2.62%	0.01%	+350.0%	Q2 2024
BABAAlibaba Group Holding Ltd	$22M	2.25%	0.00%	+347.8%	Q2 2015
BPBP PLC	$18.2M	1.86%	Not reported	-25.6%	Q4 2019
GGBGerdau S.A.	$18.1M	1.84%	0.68%	+9.0%	Q4 2013
LTMLatam Airlines Group S.A.	$17.7M	1.81%	0.00%	-64.9%	Q3 2024
PBR.APetrobras - Petroleo Brasileiro SA	$13.2M	1.35%	Not reported	-32.7%	Q4 2012
SNSharkNinja, Inc.	$11.7M	1.19%	0.07%	+14.9%	Q1 2025
BBDBank Bradesco	$11.4M	1.17%	0.11%	-41.2%	Q1 2013
EVEXEve Holding, Inc.	$11.4M	1.16%	0.82%	+383.2%	Q4 2022
CPAYCorpay, Inc.	$8.81M	0.90%	0.04%	+46.6%	Q1 2025
ELPCEnergy Co of Parana	$8.73M	0.89%	0.03%	+1194.4%	Q4 2023
GLOBGlobant S.A.	$8.7M	0.89%	0.30%	New	Q4 2025
SBSCompanhia de Saneamento Basico Do Estado de Sao Paulo-Sabesp	$8.3M	0.85%	0.05%	+65.3%	Q4 2014
AMZNAmazon Com Inc	$7.49M	0.77%	0.00%	-1.3%	Q3 2023
OWLBlue Owl Capital Inc.	$7.32M	0.75%	7.12%	+28.4%	Q1 2025
AXICYAXIA Energia S.A.	$5.86M	0.60%	Not reported	New	Q4 2025
GRNDGrindr Inc.	$5.44M	0.56%	0.22%	+126.6%	Q1 2025
VALEVale S.A.	$5.15M	0.53%	0.01%	-96.4%	Q4 2012
LUXELuxExperience B.V.	$4.37M	0.45%	0.38%	+40.0%	Q1 2025
TLNTalen Energy Corp	$3.56M	0.36%	0.02%	-85.8%	Q3 2024
CEPTCantor Equity Partners II, Inc.	$3.43M	0.35%	Not reported	Not reported	Q2 2025
CTLPCantaloupe, Inc.	$3.17M	0.32%	Not reported	Not reported	Q1 2025
JBSJBS N.V.	$3M	0.31%	Not reported	+429.8%	Q3 2025
METAMeta Platforms, Inc.	$2.94M	0.30%	Not reported	-59.6%	Q1 2023
INTRInter & Co, Inc.	$2.94M	0.30%	0.15%	-83.1%	Q4 2022
AFYAAfya Ltd	$2.73M	0.28%	Not reported	-4.7%	Q2 2023
NVDANvidia Corp	$2.7M	0.28%	0.00%	-83.7%	Q3 2023
PGYPagaya Technologies Ltd.	$2.51M	0.26%	Not reported	+140.6%	Q1 2025
UGPUltrapar Holdings Inc	$2.2M	0.22%	0.05%	+2613.6%	Q4 2018
TDGTransDigm Group INC	$1.86M	0.19%	0.00%	Not reported	Q1 2025
CORZCore Scientific, Inc./tx	$1.53M	0.16%	0.03%	Not reported	Q1 2025
NYAXNayax Ltd.	$1.21M	0.12%	0.06%	+25.4%	Q1 2025
SUZSuzano S.A.	$1.08M	0.11%	0.01%	-19.6%	Q4 2022
AMDAdvanced Micro Devices Inc	$964K	0.10%	0.00%	-30.8%	Q1 2014
HUTHut 8 Corp.	$835K	0.09%	0.02%	-70.1%	Q3 2025
CIGEnergy Co of Minas Gerais	$710K	0.07%	0.06%	+10.6%	Q4 2012
IRENIREN Ltd	$661K	0.07%	0.01%	-75.9%	Q3 2025
BSBRBanco Santander (Brasil) S.A.	$334K	0.03%	Not reported	Not reported	Q4 2012

Q3 2025Reported Nov 12, 2025123 positions
VALEVale S.A.	$120M	9.99%	0.34%	+303.8%	Q4 2012
PBRPetrobras - Petroleo Brasileiro SA	$100M	8.33%	0.11%	+58.6%	Q4 2012
CPACopa Holdings, S.A.	$48.3M	4.02%	0.99%	-6.4%	Q1 2017
VINPVinci Compass Investments Ltd.	$43.4M	3.61%	Not reported	+7.4%	Q2 2023
ARCOArcos Dorados Holdings Inc.	$42.8M	3.56%	3.01%	+39.9%	Q4 2014
RIORio Tinto PLC	$42.7M	3.55%	0.05%	+132.0%	Q4 2012
LTMLatam Airlines Group S.A.	$42.3M	3.52%	0.00%	+3884.5%	Q3 2024
VSTVistra Corp.	$41.6M	3.46%	0.06%	-39.5%	Q3 2024
XPXP Inc.	$37.6M	3.12%	Not reported	+620.0%	Q4 2019
BAPCredicorp Ltd	$34.2M	2.85%	0.14%	-31.2%	Q3 2015
AUGOAura Minerals Inc.	$30M	2.49%	Not reported	New	Q3 2025
TLNTalen Energy Corp	$28.3M	2.36%	0.15%	-61.0%	Q3 2024
FSLRFirst Solar, Inc.	$25.6M	2.13%	0.11%	Not reported	Q3 2023
BPBP PLC	$24.2M	2.01%	Not reported	+53.9%	Q4 2019
PBR.APetrobras - Petroleo Brasileiro SA	$20.6M	1.71%	Not reported	+1.0%	Q4 2012
BBDBank Bradesco	$19.7M	1.64%	0.19%	+49.7%	Q1 2013
INTRInter & Co, Inc.	$18.9M	1.57%	0.90%	Not reported	Q4 2022
GEVGE Vernova Inc.	$17.6M	1.47%	0.01%	+187.0%	Q1 2025
NVDANvidia Corp	$16.6M	1.38%	0.00%	+89.4%	Q3 2023
EMBJEmbraer S.A.	$14M	1.16%	0.03%	+16.4%	Q4 2012
GGBGerdau S.A.	$13.9M	1.16%	0.62%	+56.5%	Q4 2013
ITUBItau Unibanco Holding S.A.	$12.3M	1.02%	0.03%	+111.1%	Q4 2012
TGSGas Transporter of the South Inc	$12.2M	1.01%	0.08%	-30.9%	Q1 2015
NUNu Holdings Ltd.	$10.5M	0.87%	Not reported	Not reported	Q2 2023
MSFTMicrosoft Corp	$10.4M	0.86%	0.00%	Not reported	Q1 2014
SNSharkNinja, Inc.	$9.35M	0.78%	0.06%	+92.9%	Q1 2025
STNEStoneCo Ltd.	$8.57M	0.71%	Not reported	-5.0%	Q1 2023
METAMeta Platforms, Inc.	$8.1M	0.67%	Not reported	-81.3%	Q1 2023
HDBHDFC Bank Ltd	$7.58M	0.63%	0.00%	-9.8%	Q3 2023
ABEVAmbev S.A.	$7.23M	0.60%	0.02%	+62.9%	Q4 2013
AMZNAmazon Com Inc	$7.22M	0.60%	0.00%	-81.1%	Q3 2023
AVGOBroadcom Inc.	$6.93M	0.58%	0.00%	New	Q3 2025
CNRCore Natural Resources, Inc.	$6.85M	0.57%	0.16%	-26.9%	Q2 2025
SESea Ltd	$6.79M	0.56%	0.02%	Not reported	Q1 2025
OWLBlue Owl Capital Inc.	$6.46M	0.54%	5.55%	+53.0%	Q1 2025
BABAAlibaba Group Holding Ltd	$5.99M	0.50%	0.00%	+6600.0%	Q2 2015
CPAYCorpay, Inc.	$5.75M	0.48%	0.03%	+227.2%	Q1 2025
FUTUFutu Holdings Ltd	$5.39M	0.45%	0.01%	New	Q3 2025
SBSCompanhia de Saneamento Basico Do Estado de Sao Paulo-Sabesp	$5.24M	0.44%	0.03%	+13.1%	Q4 2014
CRDOCredo Technology Group Holding Ltd	$4.95M	0.41%	0.02%	New	Q3 2025
COHRCoherent Corp.	$4.85M	0.40%	0.03%	New	Q3 2025
AXIAYAXIA Energia S.A.	$4.69M	0.39%	Not reported	-29.4%	Q4 2018
IRENIREN Ltd	$3.41M	0.28%	Not reported	New	Q3 2025
MUMicron Technology Inc	$3.35M	0.28%	0.00%	Not reported	Q2 2024
LEUCentrus Energy Corp	$3.29M	0.27%	0.08%	New	Q3 2025
LUXELuxExperience B.V.	$3.18M	0.26%	0.27%	+140.5%	Q1 2025
CTLPCantaloupe, Inc.	$3.16M	0.26%	Not reported	+82.1%	Q1 2025
UUUUEnergy Fuels Inc	$3.01M	0.25%	0.08%	New	Q3 2025
AFYAAfya Ltd	$2.9M	0.24%	Not reported	Not reported	Q2 2023
UECUranium Energy Corp	$2.87M	0.24%	0.05%	+186.7%	Q2 2025

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