Kapitalo Investimentos Ltda
SAO PAULO, D5
$1.3bn in 51 US stocks at the end of 30 June 2026. The top 10 are 72.3% of the money. It changed about 48.4% of the portfolio this quarter.
Value
$1.3bn
Stocks
51
Top 10 share
72.3%
Turnover
48.4%
What changed this quarter
New
Bought for the first time this quarter.
- State STR Spdr S&P 500 ETF TSPY11.8% of the fund
- TeslaTSLA9.9% of the fund
- Spdr Series TrustKRE5.9% of the fund
- NetflixNFLX2.7% of the fund
- Palantir TechnologiesPLTR2.0% of the fund
- Capital One FinancialCOF0.8% of the fund
- Ishares TRSOXX0.5% of the fund
- Invesco Exchange Traded FD TRSP0.4% of the fund
- Moody'sMCO0.2% of the fund
- DoorDashDASH0.2% of the fund
- Micron TechnologyMU<0.1% of the fund
- MercadoLibreMELI<0.1% of the fund
- Sixth Street Specialty LendingTSLX<0.1% of the fund
Added
Bought more of a stock they already held.
- Ishares TRIVV12.3% of the fund+201%
- Amazon.comAMZN8.6% of the fund+87%
- Taiwan Semiconductor ManufacturingTSM6.9% of the fund+3726%
- NvidiaNVDA5.8% of the fund+62%
- Meta PlatformsMETA5.3% of the fund+174%
- VistraVST2.8% of the fund+5%
- Warner Bros. DiscoveryWBD1.8% of the fund+101%
- EmbraerEMBJ1.3% of the fund+98%
- Axia Energia SAAXIAY1.1% of the fund+579%
- Suzano S ASUZ1.0% of the fund+56%
- MastercardMA1.0% of the fund+3890%
- Vale S AVALE0.9% of the fund+17%
- S&P GlobalSPGI0.9% of the fund+3564%
- Nu HoldingsNU0.9% of the fund+17%
- DigitalBridge GroupDBRG0.6% of the fund+13%
- IsharesECH0.6% of the fund+12%
- SeaSE0.5% of the fund+1597%
- VisaV0.1% of the fund+363%
- AppleAAPL0.1% of the fund+30%
- KenvueKVUE<0.1% of the fund+4%
Cut
Sold some of their stake.
- Electronic ArtsEA3.0% of the fund-13%
- MicrosoftMSFT0.9% of the fund-24%
- AESAES0.7% of the fund-56%
- GerdauGGB0.4% of the fund-47%
- Ultrapar Participacoes SAUGP0.3% of the fund-15%
- Webster FinancialWBS0.2% of the fund-46%
- Companhia de Saneamento BasiSBS<0.1% of the fund-89%
Sold out
Sold their entire stake.
- Chart Inds-100%
- Hologic-100%
- Clearwater Analytics Hldgs I-100%
- CSG SYS Intl-100%
- Ishares TREPU-100%
- Petrobras - Petroleo Brasileiro SAPBR-100%
- Silicon LaboratoriesSLAB-100%
- Dell TechnologiesDELL-100%
- Arcellx-100%
- Booking HoldingsBKNG-100%
Holdings
- Ishares TRIVV
- Share
- 12.3%
- Value
- $156m
- Shares
- 208,479
+201%
- State STR Spdr S&P 500 ETF TSPY
- Share
- 11.8%
- Value
- $150m
- Shares
- 201,260
New
- Spdr Series TrustKRE
- Share
- 5.9%
- Value
- $75m
- Shares
- 1,006,900
New
- Electronic ArtsEA
- Share
- 3.0%
- Value
- $38m
- Shares
- 185,573
-13%
- Ero CopperERO
- Share
- 2.3%
- Value
- $29m
- Shares
- 1,076,696
Held
- Teck ResourcesTECK
- Share
- 1.6%
- Value
- $21m
- Shares
- 352,859
Held
- Axia Energia SAAXIAY
- Share
- 1.1%
- Value
- $13m
- Shares
- 1,271,245
+579%
- Suzano S ASUZ
- Share
- 1.0%
- Value
- $13m
- Shares
- 1,709,143
+56%
- Vale S AVALE
- Share
- 0.9%
- Value
- $12m
- Shares
- 766,128
+17%
- IsharesECH
- Share
- 0.6%
- Value
- $7m
- Shares
- 177,631
+12%
- SeaSE
- Share
- 0.5%
- Value
- $7m
- Shares
- 72,312
+1597%
- Ishares TRSOXX
- Share
- 0.5%
- Value
- $6m
- Shares
- 9,200
New
- Invesco Exchange Traded FD TRSP
- Share
- 0.4%
- Value
- $5m
- Shares
- 24,000
New
- Ultrapar Participacoes SAUGP
- Share
- 0.3%
- Value
- $4m
- Shares
- 779,409
-15%
- Ishares TRFXI
- Share
- 0.2%
- Value
- $2m
- Shares
- 77,718
Held
- Webster FinancialWBS
- Share
- 0.2%
- Value
- $2m
- Shares
- 28,073
-46%
- Telefonica Brasil SAVIV
- Share
- 0.1%
- Value
- $2m
- Shares
- 123,667
Held
- Companhia de Saneamento BasiSBS
- Share
- <0.1%
- Value
- $558,741
- Shares
- 96,668
-89%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Ishares TRIVV | 12.3% | $156m | 208,479 | +201% |
| State STR Spdr S&P 500 ETF TSPY | 11.8% | $150m | 201,260 | New |
| TeslaTSLA | 9.9% | $126m | 300,429 | New |
| Amazon.comAMZN | 8.6% | $109m | 459,139 | +87% |
| Taiwan Semiconductor ManufacturingTSM | 6.9% | $87m | 183,054 | +3726% |
| Spdr Series TrustKRE | 5.9% | $75m | 1,006,900 | New |
| NvidiaNVDA | 5.8% | $74m | 371,034 | +62% |
| Meta PlatformsMETA | 5.3% | $68m | 120,563 | +174% |
| Electronic ArtsEA | 3.0% | $38m | 185,573 | -13% |
| VistraVST | 2.8% | $36m | 228,300 | +5% |
| NetflixNFLX | 2.7% | $34m | 480,000 | New |
| Ero CopperERO | 2.3% | $29m | 1,076,696 | Held |
| Palantir TechnologiesPLTR | 2.0% | $26m | 220,000 | New |
| Warner Bros. DiscoveryWBD | 1.8% | $23m | 872,311 | +101% |
| Teck ResourcesTECK | 1.6% | $21m | 352,859 | Held |
| EmbraerEMBJ | 1.3% | $17m | 259,155 | +98% |
| Axia Energia SAAXIAY | 1.1% | $13m | 1,271,245 | +579% |
| Suzano S ASUZ | 1.0% | $13m | 1,709,143 | +56% |
| MastercardMA | 1.0% | $13m | 24,937 | +3890% |
| Rio TintoRIO | 1.0% | $12m | 127,754 | Held |
| YPF Sociedad AnonimaYPF | 0.9% | $12m | 257,612 | Held |
| Vale S AVALE | 0.9% | $12m | 766,128 | +17% |
| MicrosoftMSFT | 0.9% | $11m | 29,335 | -24% |
| S&P GlobalSPGI | 0.9% | $11m | 27,295 | +3564% |
| Nu HoldingsNU | 0.9% | $11m | 811,923 | +17% |
| Capital One FinancialCOF | 0.8% | $10m | 49,880 | New |
| AESAES | 0.7% | $9m | 618,623 | -56% |
| DigitalBridge GroupDBRG | 0.6% | $8m | 510,475 | +13% |
| IsharesECH | 0.6% | $7m | 177,631 | +12% |
| SeaSE | 0.5% | $7m | 72,312 | +1597% |
| Ishares TRSOXX | 0.5% | $6m | 9,200 | New |
| GerdauGGB | 0.4% | $6m | 1,400,017 | -47% |
| Invesco Exchange Traded FD TRSP | 0.4% | $5m | 24,000 | New |
| Loma Negra Compania Industrial Argentina Sociedad AnonimaLOMA | 0.3% | $4m | 378,600 | Held |
| Brighthouse FinancialBHF | 0.3% | $4m | 67,400 | Held |
| Ultrapar Participacoes SAUGP | 0.3% | $4m | 779,409 | -15% |
| XPXP | 0.3% | $4m | 225,664 | Held |
| Eve HoldingEVEX | 0.2% | $3m | 1,100,000 | Held |
| Moody'sMCO | 0.2% | $3m | 5,900 | New |
| Ishares TRFXI | 0.2% | $2m | 77,718 | Held |
| Webster FinancialWBS | 0.2% | $2m | 28,073 | -46% |
| DoorDashDASH | 0.2% | $2m | 10,900 | New |
| VisaV | 0.1% | $2m | 4,952 | +363% |
| AppleAAPL | 0.1% | $2m | 5,802 | +30% |
| Telefonica Brasil SAVIV | 0.1% | $2m | 123,667 | Held |
| Micron TechnologyMU | <0.1% | $1m | 1,000 | New |
| KenvueKVUE | <0.1% | $1m | 58,000 | +4% |
| MercadoLibreMELI | <0.1% | $772,312 | 455 | New |
| Companhia de Saneamento BasiSBS | <0.1% | $558,741 | 96,668 | -89% |
| Sixth Street Specialty LendingTSLX | <0.1% | $344,774 | 20,080 | New |
| Walt DisneyDIS | <0.1% | $309,925 | 3,220 | Held |
Options (9)
- TeslaTSLA
- Type
- Put
- Value
- $126m
- Contracts
- 300,000
- Spdr Series TrustXBI
- Type
- Call
- Value
- $36m
- Contracts
- 230,000
- NetflixNFLX
- Type
- Put
- Value
- $34m
- Contracts
- 480,000
- Ishares TRIEF
- Type
- Call
- Value
- $28m
- Contracts
- 300,000
- Palantir TechnologiesPLTR
- Type
- Put
- Value
- $26m
- Contracts
- 220,000
- Ishares TRIGV
- Type
- Put
- Value
- $18m
- Contracts
- 200,000
- Ishares TRSOXX
- Type
- Call
- Value
- $16m
- Contracts
- 25,000
- Amazon.comAMZN
- Type
- Put
- Value
- $12m
- Contracts
- 50,000
- TeslaTSLA
- Type
- Call
- Value
- $6m
- Contracts
- 15,000
| Company | Type | Value | Contracts |
|---|---|---|---|
| TeslaTSLA | Put | $126m | 300,000 |
| Spdr Series TrustXBI | Call | $36m | 230,000 |
| NetflixNFLX | Put | $34m | 480,000 |
| Ishares TRIEF | Call | $28m | 300,000 |
| Palantir TechnologiesPLTR | Put | $26m | 220,000 |
| Ishares TRIGV | Put | $18m | 200,000 |
| Ishares TRSOXX | Call | $16m | 25,000 |
| Amazon.comAMZN | Put | $12m | 50,000 |
| TeslaTSLA | Call | $6m | 15,000 |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 177.7% since 30 June 2025.
Where the money is
Technology18.8%
Retail & consumer18.7%
Media & telecom9.9%
Materials5.6%
Financial services5.3%
Utilities3.6%
Industrials1.5%
Energy0.9%
Everyday goods0.1%
Other35.6%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.