# Kapitalo Investimentos Ltda

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1798686. Source: https://holderbook.com/funds/1798686-kapitalo-investimentos-ltda/

- Reported value: $1.6B
- Positions: 54
- Weight of the ten largest: 70.5%
- Filed: 2026-08-14

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 |
|---|---|---|---|---|---|
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $258.8M | 300,429 | 16.4% | 1 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $156.1M | 208,479 | 9.9% | 2 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $150.3M | 201,260 | 9.5% | 2 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $121.3M | 459,139 | 7.7% | 6 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $87.4M | 183,054 | 5.5% | 6 |
| SPDR SERIES TRUST | [KRE](https://holderbook.com/stocks/KRE/) | $75.4M | 1,006,900 | 4.8% | 1 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $74.2M | 371,034 | 4.7% | 2 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $68.5M | 480,000 | 4.3% | 1 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $67.9M | 120,563 | 4.3% | 6 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $51.3M | 220,000 | 3.3% | 1 |
| ELECTRONIC ARTS INC | [EA](https://holderbook.com/stocks/EA/) | $38.0M | 185,573 | 2.4% | 3 |
| SPDR SERIES TRUST | [XBI](https://holderbook.com/stocks/XBI/) | $36.4M | 0 | 2.3% | 1 |
| VISTRA CORP | [VST](https://holderbook.com/stocks/VST/) | $36.2M | 228,300 | 2.3% | 3 |
| ERO COPPER CORP | [ERO](https://holderbook.com/stocks/ERO/) | $28.8M | 1,076,696 | 1.8% | 11 |
| ISHARES TR | [IEF](https://holderbook.com/stocks/IEF/) | $28.4M | 0 | 1.8% | 1 |
| WARNER BROS DISCOVERY INC | [WBD](https://holderbook.com/stocks/WBD/) | $23.3M | 872,311 | 1.5% | 2 |
| ISHARES TR | [SOXX](https://holderbook.com/stocks/SOXX/) | $21.9M | 9,200 | 1.4% | 1 |
| TECK RESOURCES LTD | [TECK](https://holderbook.com/stocks/TECK/) | $21.0M | 352,859 | 1.3% | 6 |
| ISHARES TR | [IGV](https://holderbook.com/stocks/IGV/) | $18.1M | 0 | 1.1% | 1 |
| EMBRAER S.A. | [EMBJ](https://holderbook.com/stocks/EMBJ/) | $16.5M | 259,155 | 1.0% | 5 |
| AXIA ENERGIA SA | [AXIA](https://holderbook.com/stocks/AXIA/) | $13.4M | 1,271,245 | 0.9% | 8 |
| SUZANO S A | [SUZ](https://holderbook.com/stocks/SUZ/) | $13.3M | 1,709,143 | 0.8% | 9 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $12.8M | 24,937 | 0.8% | 3 |
| RIO TINTO PLC | [RIO](https://holderbook.com/stocks/RIO/) | $12.1M | 127,754 | 0.8% | 13 |
| YPF SOCIEDAD ANONIMA | [YPF](https://holderbook.com/stocks/YPF/) | $11.7M | 257,612 | 0.7% | 4 |
| VALE S A | [VALE](https://holderbook.com/stocks/VALE/) | $11.5M | 766,128 | 0.7% | 2 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $10.9M | 29,335 | 0.7% | 13 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $10.9M | 27,295 | 0.7% | 2 |
| NU HLDGS LTD | [NU](https://holderbook.com/stocks/NU/) | $10.8M | 811,923 | 0.7% | 2 |
| CAPITAL ONE FINL CORP | [COF](https://holderbook.com/stocks/COF/) | $10.0M | 49,880 | 0.6% | 1 |
| AES CORP | [AES](https://holderbook.com/stocks/AES/) | $9.1M | 618,623 | 0.6% | 2 |
| DIGITALBRIDGE GROUP INC | [DBRG](https://holderbook.com/stocks/DBRG/) | $8.1M | 510,475 | 0.5% | 2 |
| ISHARES INC | [ECH](https://holderbook.com/stocks/ECH/) | $7.1M | 177,631 | 0.4% | 2 |
| SEA LTD | [SE](https://holderbook.com/stocks/SE/) | $6.9M | 72,312 | 0.4% | 2 |
| GERDAU SA | [GGB](https://holderbook.com/stocks/GGB/) | $5.7M | 1,400,017 | 0.4% | 2 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $5.1M | 24,000 | 0.3% | 1 |
| LOMA NEGRA CORP | [LOMA](https://holderbook.com/stocks/LOMA/) | $4.3M | 378,600 | 0.3% | 6 |
| BRIGHTHOUSE FINL INC | [BHF](https://holderbook.com/stocks/BHF/) | $4.3M | 67,400 | 0.3% | 2 |
| ULTRAPAR PARTICIPACOES SA | [UGP](https://holderbook.com/stocks/UGP/) | $3.9M | 779,409 | 0.2% | 4 |
| XP INC | [XP](https://holderbook.com/stocks/XP/) | $3.7M | 225,664 | 0.2% | 21 |
| EVE HLDG INC | [EVEX](https://holderbook.com/stocks/EVEX/) | $2.8M | 1,100,000 | 0.2% | 15 |
| MOODYS CORP | [MCO](https://holderbook.com/stocks/MCO/) | $2.7M | 5,900 | 0.2% | 1 |
| ISHARES TR | [FXI](https://holderbook.com/stocks/FXI/) | $2.5M | 77,718 | 0.2% | 6 |
| WEBSTER FINL CORP | [WBS](https://holderbook.com/stocks/WBS/) | $2.1M | 28,073 | 0.1% | 2 |
| DOORDASH INC | [DASH](https://holderbook.com/stocks/DASH/) | $2.0M | 10,900 | 0.1% | 1 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $1.7M | 4,952 | 0.1% | 4 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $1.7M | 5,802 | 0.1% | 2 |
| TELEFONICA BRASIL SA | [VIV](https://holderbook.com/stocks/VIV/) | $1.6M | 123,667 | 0.1% | 3 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $1.2M | 1,000 | 0.1% | 1 |
| KENVUE INC | [KVUE](https://holderbook.com/stocks/KVUE/) | $1.1M | 58,000 | 0.1% | 4 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $772.3K | 455 | 0.0% | 1 |
| COMPANHIA DE SANEAMENTO BASI | [SBS](https://holderbook.com/stocks/SBS/) | $558.7K | 96,668 | 0.0% | 2 |
| SIXTH STREET SPECIALTY LENDI | [TSLX](https://holderbook.com/stocks/TSLX/) | $344.8K | 20,080 | 0.0% | 1 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $309.9K | 3,220 | 0.0% | 7 |

## 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 |
|---|---|---|---|---|
| Q2 2026 | +4.7% | +14.8% | -10.2% | 98% |
| Q1 2026 | -6.7% | -4.6% | -2.0% | 99% |
| Q4 2025 | +4.9% | +2.4% | +2.5% | 97% |
| Q3 2025 | +8.9% | +7.8% | +1.1% | 100% |
| Q2 2025 | +16.4% | +10.5% | +5.9% | 100% |
| Q1 2025 | +2.3% | -4.6% | +6.9% | 100% |
| Q4 2024 | -6.8% | +2.1% | -9.0% | 94% |
| Q3 2024 | +7.7% | +5.4% | +2.3% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.6B | 54 |
| Q1 2026 | $531.5M | 50 |
| Q4 2025 | $522.5M | 37 |
| Q3 2025 | $537.1M | 62 |
| Q2 2025 | $461.4M | 118 |
| Q1 2025 | $493.2M | 83 |
| Q4 2024 | $149.5M | 274 |
| Q3 2024 | $410.2M | 157 |
| Q2 2024 | $333.6M | 164 |
| Q1 2024 | $455.7M | 257 |
| Q4 2023 | $484.6M | 525 |
| Q3 2023 | $735.9M | 530 |