Kapitalo Investimentos Ltda

SAO PAULO, D5 · CIK 1798686 · 13F filing filed 2026-08-14

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

Legal entityKAPITALO INVESTIMENTOS LTDA (BR)

$1.3bn reported value +139.9% vs Q1 2026

51positions

72.3%in top 10

13 new 20 added 7 reduced 10 sold out vs Q1 2026

Options: 4 call positions ($87.1m notional), 5 put positions ($216.2m notional) – listed below, not included above.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	ISHARES TR CORE S&P500 ETF IVV	IVV	208,479	$156.1m12.26%	12.26%	Added +139.3k	+139,265 201.2%
2	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	201,260	$150.3m11.80%	11.80%	New
3	TESLA INC COM TSLA	TSLA	300,429	$126.4m9.92%	9.92%	New
4	AMAZON COM INC COM AMZN	AMZN	459,139	$109.4m8.59%	8.59%	Added +214.1k	+214,074 87.3%
5	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	183,054	$87.4m6.86%	6.86%	Added +178.3k	+178,270 3726.4%
6	SPDR SER TR S&P REGL BKG KRE	KRE	1,006,900	$75.4m5.92%	5.92%	New
7	NVIDIA CORPORATION COM NVDA	NVDA	371,034	$74.2m5.83%	5.83%	Added +141.7k	+141,650 61.8%
8	META PLATFORMS INC CL A META	META	120,563	$67.9m5.33%	5.33%	Added +76.6k	+76,570 174.1%
9	ELECTRONIC ARTS INC COM EA	EA	185,573	$38.0m2.99%	2.99%	Reduced -27.6k	-27,620 -13.0%
10	VISTRA CORP COM VST	VST	228,300	$36.2m2.84%	2.84%	Added +10.5k	+10,462 4.8%
11	NETFLIX INC COM NFLX	NFLX	480,000	$34.3m2.69%	2.69%	New
12	ERO COPPER CORP COM ERO	ERO	1,076,696	$28.8m2.26%	2.26%	Unchanged
13	PALANTIR TECHNOLOGIES INC CL A PLTR	PLTR	220,000	$25.7m2.02%	2.02%	New
14	WARNER BROS DISCOVERY INC COM SER A WBD	WBD	872,311	$23.3m1.83%	1.83%	Added +439.4k	+439,408 101.5%
15	TECK RESOURCES LTD CL B TECK	TECK	352,859	$21.0m1.65%	1.65%	Unchanged
16	EMBRAER S.A. SPONSORED ADS EMBJ	EMBJ	259,155	$16.5m1.30%	1.30%	Added +128.0k	+127,958 97.5%
17	CENTRAIS ELETRICAS BRASILEIR SPONSORED ADR AXIAY	AXIAY	1,271,245	$13.4m1.05%	1.05%	Added +1.1m	+1,083,942 578.7%
18	SUZANO S A SPON ADS SUZ	SUZ	1,709,143	$13.3m1.04%	1.04%	Added +614.4k	+614,410 56.1%
19	MASTERCARD INCORPORATED CL A MA	MA	24,937	$12.8m1.01%	1.01%	Added +24.3k	+24,312 3889.9%
20	RIO TINTO PLC SPONSORED ADR RIO	RIO	127,754	$12.1m0.95%	0.95%	Unchanged
21	YPF SOCIEDAD ANONIMA SPON ADR CL D YPF	YPF	257,612	$11.7m0.92%	0.92%	Unchanged
22	VALE S A SPONSORED ADS VALE	VALE	766,128	$11.5m0.90%	0.90%	Added +109.1k	+109,092 16.6%
23	MICROSOFT CORP COM MSFT	MSFT	29,335	$10.9m0.86%	0.86%	Reduced -9.4k	-9,415 -24.3%
24	S&P GLOBAL INC COM SPGI	SPGI	27,295	$10.9m0.86%	0.86%	Added +26.6k	+26,550 3563.8%
25	NU HLDGS LTD ORD SHS CL A NU	NU	811,923	$10.8m0.85%	0.85%	Added +115.9k	+115,882 16.6%
26	CAPITAL ONE FINL CORP COM COF	COF	49,880	$10.0m0.79%	0.79%	New
27	AES CORP COM AES	AES	618,623	$9.1m0.71%	0.71%	Reduced -797.0k	-797,012 -56.3%
28	DIGITALBRIDGE GROUP INC CL A NEW CL A NEW		510,475	$8.1m0.63%	0.63%	Added +60.1k	+60,147 13.4%
29	ISHARES INC MSCI CHILE ETF ECH	ECH	177,631	$7.1m0.55%	0.55%	Added +18.5k	+18,500 11.6%
30	SEA LTD SPONSORD ADS SE	SE	72,312	$6.9m0.54%	0.54%	Added +68.1k	+68,052 1597.5%
31	ISHARES TR ISHARES SEMICDTR SOXX	SOXX	9,200	$5.9m0.46%	0.46%	New
32	GERDAU SA SPON ADR REP PFD GGB	GGB	1,400,017	$5.7m0.44%	0.44%	Reduced -1.3m	-1,264,141 -47.5%
33	INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT RSP	RSP	24,000	$5.1m0.40%	0.40%	New
34	LOMA NEGRA C I A S A MTN 14 SPONSORED ADS LOMA	LOMA	378,600	$4.3m0.34%	0.34%	Unchanged
35	BRIGHTHOUSE FINL INC COM BHF	BHF	67,400	$4.3m0.33%	0.33%	Unchanged
36	ULTRAPAR PARTICIPACOES SA SP ADR REP COM UGP	UGP	779,409	$3.9m0.31%	0.31%	Reduced -136.1k	-136,059 -14.9%
37	XP INC CL A XP	XP	225,664	$3.7m0.29%	0.29%	Unchanged
38	EVE HLDG INC COM EVEX	EVEX	1,100,000	$2.8m0.22%	0.22%	Unchanged
39	MOODYS CORP COM MCO	MCO	5,900	$2.7m0.21%	0.21%	New
40	ISHARES TR CHINA LG-CAP ETF FXI	FXI	77,718	$2.5m0.19%	0.19%	Unchanged
41	WEBSTER FINL CORP COM WBS	WBS	28,073	$2.1m0.17%	0.17%	Reduced -23.8k	-23,840 -45.9%
42	DOORDASH INC CL A DASH	DASH	10,900	$2.0m0.16%	0.16%	New
43	VISA INC COM CL A V	V	4,952	$1.7m0.13%	0.13%	Added +3.9k	+3,882 362.8%
44	APPLE INC COM AAPL	AAPL	5,802	$1.7m0.13%	0.13%	Added +1.3k	+1,327 29.6%
45	TELEFONICA BRASIL SA NEW ADR VIV	VIV	123,667	$1.6m0.13%	0.13%	Unchanged
46	MICRON TECHNOLOGY INC COM MU	MU	1,000	$1.2m0.09%	0.09%	New
47	KENVUE INC COM KVUE	KVUE	58,000	$1.1m0.09%	0.09%	Added +2.0k	+2,000 3.6%
48	MERCADOLIBRE INC COM MELI	MELI	455	$772.3k0.06%	0.06%	New
49	COMPANHIA DE SANEAMENTO BASI SPONSORED ADR SBS	SBS	96,668	$558.7k0.04%	0.04%	Reduced -745.3k	-745,347 -88.5%
50	SIXTH STREET SPECIALTY LENDI COM TSLX	TSLX	20,080	$344.8k0.03%	0.03%	New
51	DISNEY WALT CO COM DIS	DIS	3,220	$309.9k0.02%	0.02%	Unchanged

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
CHART INDS INC GTLS	GTLS	143,375	$29.6m143.4k shares
HOLOGIC INC HOLX	HOLX	283,575	$21.4m283.6k shares
CLEARWATER ANALYTICS HLDGS I		324,166	$7.7m324.2k shares
CSG SYS INTL INC		77,074	$6.2m77.1k shares
ISHARES TR EPU	EPU	27,130	$2.2m27.1k shares
PETROLEO BRASILEIRO SA PETRO PBR	PBR	103,621	$2.2m103.6k shares
SILICON LABORATORIES INC SLAB	SLAB	6,867	$1.4m6.9k shares
DELL TECHNOLOGIES INC DELL	DELL	6,200	$1.0m6.2k shares
ARCELLX INC ACLX	ACLX	7,978	$916.0k8.0k shares
BOOKING HOLDINGS INC BKNG	BKNG	2,050	$345.2k2.0k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
TESLA INC TSLA · Put	TSLA	Put	300,000	$126.2m300.0k shares	New
SPDR SER TR XBI · Call	XBI	Call	230,000	$36.4m230.0k shares	New
NETFLIX INC NFLX · Put	NFLX	Put	480,000	$34.3m480.0k shares	New
ISHARES TR IEF · Call	IEF	Call	300,000	$28.4m300.0k shares	New
PALANTIR TECHNOLOGIES INC PLTR · Put	PLTR	Put	220,000	$25.7m220.0k shares	New
ISHARES TR IGV · Put	IGV	Put	200,000	$18.1m200.0k shares	New
ISHARES TR SOXX · Call	SOXX	Call	25,000	$16.0m25.0k shares	New
AMAZON COM INC AMZN · Put	AMZN	Put	50,000	$11.9m50.0k shares	New
TESLA INC TSLA · Call	TSLA	Call	15,000	$6.3m15.0k shares	New

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
AURA MINERALS INC AUGO · 13G · filed 2025-11-14	AUGO	7.0%≈ $364.6m	new	13G	2025-11-14