# Absolute Gestao de Investimentos Ltda.

> Institutional holdings reported to the SEC as of Q1 2026 on Form 13F. CIK 1622610. Source: https://holderbook.com/funds/1622610-absolute-gestao-de-investimentos-ltda/

- Reported value: $877.1M
- Positions: 74
- Weight of the ten largest: 69.2%
- Filed: 2026-05-15

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ISHARES TR | [EEM](https://holderbook.com/stocks/EEM/) | $117.2M | 2,064,273 | 13.4% | 4 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $101.0M | 1,040,000 | 11.5% | 3 |
| HOLOGIC INC | [HOLX](https://holderbook.com/stocks/HOLX/) | $91.2M | 1,206,999 | 10.4% | 2 |
| ELECTRONIC ARTS INC | [EA](https://holderbook.com/stocks/EA/) | $68.7M | 336,934 | 7.8% | 3 |
| PETROLEO BRASILEIRO S A | [PBRA](https://holderbook.com/stocks/PBRA/) | $58.6M | 3,127,700 | 6.7% | 1 |
| ALLIED GOLD CORP | [AAUC](https://holderbook.com/stocks/AAUC/) | $51.4M | 1,659,991 | 5.9% | 1 |
| ISHARES INC | [EWZ](https://holderbook.com/stocks/EWZ/) | $36.1M | 939,581 | 4.1% | 3 |
| ISHARES INC | [EWC](https://holderbook.com/stocks/EWC/) | $30.1M | 550,000 | 3.4% | 1 |
| ISHARES INC | [EWA](https://holderbook.com/stocks/EWA/) | $27.3M | 985,000 | 3.1% | 1 |
| PAMPA ENERGIA S A | [PAM](https://holderbook.com/stocks/PAM/) | $25.4M | 287,383 | 2.9% | 4 |
| VANECK ETF TRUST | [EMLC](https://holderbook.com/stocks/EMLC/) | $22.3M | 888,281 | 2.5% | 1 |
| WEBSTER FINL CORP | [WBS](https://holderbook.com/stocks/WBS/) | $20.8M | 300,000 | 2.4% | 1 |
| APELLIS PHARMACEUTICALS INC | [APLS](https://holderbook.com/stocks/APLS/) | $18.1M | 450,000 | 2.1% | 1 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $16.8M | 9,716 | 1.9% | 1 |
| CLEARWATER ANALYTICS HLDGS I | [CWAN](https://holderbook.com/stocks/CWAN/) | $16.5M | 699,571 | 1.9% | 1 |
| KENVUE INC | [KVUE](https://holderbook.com/stocks/KVUE/) | $15.9M | 923,260 | 1.8% | 1 |
| UNIFIRST CORP MASS | [UNF](https://holderbook.com/stocks/UNF/) | $14.6M | 57,950 | 1.7% | 1 |
| NU HLDGS LTD | [NU](https://holderbook.com/stocks/NU/) | $13.8M | 961,608 | 1.6% | 3 |
| TERNS PHARMACEUTICALS INC | [TERN](https://holderbook.com/stocks/TERN/) | $12.1M | 230,000 | 1.4% | 1 |
| PAGSEGURO DIGITAL LTD | [PAGS](https://holderbook.com/stocks/PAGS/) | $11.8M | 1,175,125 | 1.3% | 2 |
| DLOCAL LTD | [DLO](https://holderbook.com/stocks/DLO/) | $11.6M | 896,173 | 1.3% | 1 |
| XP INC | [XP](https://holderbook.com/stocks/XP/) | $11.1M | 584,578 | 1.3% | 5 |
| GRUPO FINANCIERO GALICIA S.A | [GGAL](https://holderbook.com/stocks/GGAL/) | $7.9M | 168,677 | 0.9% | 1 |
| BANCO MACRO SA | [BMA](https://holderbook.com/stocks/BMA/) | $7.8M | 101,013 | 0.9% | 1 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $7.7M | 36,900 | 0.9% | 10 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $7.2M | 21,190 | 0.8% | 2 |
| ONESTREAM INC | [OS](https://holderbook.com/stocks/OS/) | $5.9M | 245,160 | 0.7% | 1 |
| ISHARES INC | [EWY](https://holderbook.com/stocks/EWY/) | $5.4M | 43,500 | 0.6% | 1 |
| CENTRAL PUERTO S A | [CEPU](https://holderbook.com/stocks/CEPU/) | $4.8M | 286,056 | 0.5% | 1 |
| JANUS HENDERSON GROUP PLC | [JHG](https://holderbook.com/stocks/JHG/) | $4.8M | 92,718 | 0.5% | 1 |
| KKR & CO INC | [KKR](https://holderbook.com/stocks/KKR/) | $4.3M | 46,269 | 0.5% | 1 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $2.9M | 10,000 | 0.3% | 2 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $2.9M | 8,500 | 0.3% | 1 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $2.6M | 9,000 | 0.3% | 1 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $2.0M | 3,500 | 0.2% | 1 |
| UDEMY INC | [UDMY](https://holderbook.com/stocks/UDMY/) | $1.7M | 357,200 | 0.2% | 1 |
| LOMA NEGRA CORP | [LOMA](https://holderbook.com/stocks/LOMA/) | $1.6M | 147,436 | 0.2% | 2 |
| STONECO LTD | [STNE](https://holderbook.com/stocks/STNE/) | $1.3M | 88,534 | 0.1% | 2 |
| FS KKR CAP CORP | [FSK](https://holderbook.com/stocks/FSK/) | $1.2M | 115,000 | 0.1% | 1 |
| ALASKA AIR GROUP INC | [ALK](https://holderbook.com/stocks/ALK/) | $1.0M | 28,453 | 0.1% | 2 |
| TELECOM ARGENTINA S A | [TEO](https://holderbook.com/stocks/TEO/) | $1.0M | 86,831 | 0.1% | 1 |
| ISHARES INC | [TUR](https://holderbook.com/stocks/TUR/) | $720.2K | 0 | 0.1% | 5 |
| SANDISK CORP | [SNDK](https://holderbook.com/stocks/SNDK/) | $505.7K | 796 | 0.1% | 1 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $434.3K | 0 | 0.0% | 1 |
| AMBEV SA | [ABEV](https://holderbook.com/stocks/ABEV/) | $413.1K | 141,469 | 0.0% | 2 |
| IRSA INVERSIONES Y REP S A | [IRS](https://holderbook.com/stocks/IRS/) | $405.2K | 25,000 | 0.0% | 1 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $380.7K | 1,024 | 0.0% | 1 |
| AGI INC | [AGBK](https://holderbook.com/stocks/AGBK/) | $379.9K | 52,257 | 0.0% | 1 |
| COHERENT CORP | [COHR](https://holderbook.com/stocks/COHR/) | $354.7K | 1,489 | 0.0% | 2 |
| HYCROFT MINING HOLDING CORP | [HYMC](https://holderbook.com/stocks/HYMC/) | $342.5K | 9,730 | 0.0% | 1 |
| SSR MINING IN | [SSRM](https://holderbook.com/stocks/SSRM/) | $339.6K | 11,551 | 0.0% | 1 |
| FIRST MAJESTIC SILVER CORP | [AG](https://holderbook.com/stocks/AG/) | $336.4K | 15,663 | 0.0% | 1 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $336.2K | 0 | 0.0% | 1 |
| SILVERCORP METALS INC | [SVM](https://holderbook.com/stocks/SVM/) | $332.9K | 31,000 | 0.0% | 1 |
| CIENA CORP | [CIEN](https://holderbook.com/stocks/CIEN/) | $318.3K | 820 | 0.0% | 1 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $313.7K | 2,307 | 0.0% | 1 |
| LUMENTUM HLDGS INC | [LITE](https://holderbook.com/stocks/LITE/) | $313.4K | 446 | 0.0% | 2 |
| EQUINOX GOLD CORP | [EQX](https://holderbook.com/stocks/EQX/) | $311.6K | 21,550 | 0.0% | 1 |
| AURA MINERALS INC | [AUGO](https://holderbook.com/stocks/AUGO/) | $306.0K | 3,750 | 0.0% | 1 |
| SANTACRUZ SILVER MNG LTD | [SCZM](https://holderbook.com/stocks/SCZM/) | $303.4K | 35,400 | 0.0% | 1 |
| IAMGOLD CORP | [IAG](https://holderbook.com/stocks/IAG/) | $302.5K | 16,071 | 0.0% | 1 |
| SELECT SECTOR SPDR TR | [XLU](https://holderbook.com/stocks/XLU/) | $297.9K | 0 | 0.0% | 1 |
| COEUR MNG INC | [CDE](https://holderbook.com/stocks/CDE/) | $287.2K | 15,300 | 0.0% | 1 |
| SIBANYE STILLWATER LTD | [SBSW](https://holderbook.com/stocks/SBSW/) | $283.4K | 23,000 | 0.0% | 1 |
| ENDEAVOUR SILVER CORP | [EXK](https://holderbook.com/stocks/EXK/) | $276.5K | 29,700 | 0.0% | 1 |
| ARM HOLDINGS PLC | [ARM](https://holderbook.com/stocks/ARM/) | $249.6K | 1,650 | 0.0% | 1 |
| SEAGATE TECHNOLOGY HLDNGS PL | [STX](https://holderbook.com/stocks/STX/) | $242.9K | 620 | 0.0% | 1 |
| TOWER SEMICONDUCTOR LTD | [TSEM](https://holderbook.com/stocks/TSEM/) | $225.5K | 1,285 | 0.0% | 1 |
| ULTRA CLEAN HLDGS INC | [UCTT](https://holderbook.com/stocks/UCTT/) | $214.5K | 3,450 | 0.0% | 1 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $213.9K | 245 | 0.0% | 1 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $208.4K | 1,195 | 0.0% | 1 |
| VERTIV HOLDINGS CO | [VRT](https://holderbook.com/stocks/VRT/) | $208.0K | 830 | 0.0% | 1 |
| MKS INC. | [MKSI](https://holderbook.com/stocks/MKSI/) | $204.5K | 890 | 0.0% | 1 |
| AXT INC | [AXTI](https://holderbook.com/stocks/AXTI/) | $202.0K | 3,545 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q1 2026 | +1.0% | -4.6% | +5.7% | 74% |
| Q4 2025 | +1.8% | +2.4% | -0.5% | 87% |
| Q3 2025 | +8.7% | +7.8% | +0.9% | 98% |
| Q2 2025 | +7.9% | +10.5% | -2.6% | 97% |
| Q1 2025 | -5.0% | -4.6% | -0.5% | 74% |
| Q4 2024 | -4.0% | +2.1% | -6.2% | 72% |
| Q3 2024 | +1.4% | +5.4% | -4.0% | 92% |
| Q2 2024 | -5.0% | +4.0% | -9.0% | 83% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2026 | $877.1M | 74 |
| Q4 2025 | $956.6M | 46 |
| Q3 2025 | $769.1M | 45 |
| Q2 2025 | $311.8M | 57 |
| Q1 2025 | $235.9M | 45 |
| Q4 2024 | $236.4M | 44 |
| Q3 2024 | $305.0M | 43 |
| Q2 2024 | $193.1M | 32 |
| Q1 2024 | $329.2M | 38 |
| Q4 2023 | $262.5M | 36 |