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Kapitalo Investimentos Ltda

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13F filer, CIK 1798686, SAO PAULO, Brazil

Kapitalo Investimentos Ltda reported $522,509,323 across 37 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-01-28. Its ten largest share positions make up 82.21% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001798686-26-000001

Period
2025-12-31
Reported value
$523M
Holdings
37
Top 10 weight
82.21%
New
9
Sold out
36

Largest buys vs the previous quarter

SecurityShares changeApprox. value
METAadded+54,179$35.8M
AMZNadded+94,898$21.9M
EAnew+96,054$19.6M
VSTnew+105,000$16.9M
KWEBadded+402,000$13.7M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
KREreduced-847,063-$54.9M
TSMreduced-78,000-$23.7M
NXEexited-1,689,155-$15.1M
Kexited-126,694-$10.4M
ALEexited-115,344-$7.66M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001798686-26-000001, largest first. % of portfolio is the value over $522,363,323, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 82,544 shares; 2024Q4: not reported; 2025Q1: 532,877 shares; 2025Q2: 472,832 shares; 2025Q3: 469,968 shares; 2025Q4: 564,866 shares 564,866$130M24.96%+94,898Timeline
KWEBKRANESHARES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 768,000 shares; 2024Q4: not reported; 2025Q1: 916,000 shares; 2025Q2: 1,254,000 shares; 2025Q3: 1,332,000 shares; 2025Q4: 1,734,000 shares 1,734,000$59M11.3%+402,000Timeline
KRESPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,649,936 shares; 2025Q4: 802,873 shares 802,873$52M9.96%-847,063Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 778 shares; 2024Q4: not reported; 2025Q1: 10,885 shares; 2025Q2: 2,535 shares; 2025Q3: 2,463 shares; 2025Q4: 56,642 shares 56,642$37.4M7.16%+54,179Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,546 shares; 2024Q4: 28,027 shares; 2025Q1: 37,425 shares; 2025Q2: 3,758 shares; 2025Q3: 63,125 shares; 2025Q4: 71,402 shares 71,402$34.5M6.61%+8,277Timeline
KVUEKENVUE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,600,000 shares; 2025Q4: 2,000,000 shares 2,000,000$34.5M6.6%+400,000Timeline
EROERO COPPER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 512,770 shares; 2024Q4: 578,767 shares; 2025Q1: 578,718 shares; 2025Q2: 578,718 shares; 2025Q3: 1,076,696 shares; 2025Q4: 1,076,696 shares 1,076,696$30.5M5.83%0Timeline
EAELECTRONIC ARTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,705 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 96,054 shares 96,054$19.6M3.76%newTimeline
VSTVISTRA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 283,485 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 105,000 shares 105,000$16.9M3.24%newTimeline
TECKTECK RESOURCES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 805,013 shares; 2024Q4: not reported; 2025Q1: 611,699 shares; 2025Q2: 302,859 shares; 2025Q3: 302,859 shares; 2025Q4: 302,859 shares 302,859$14.5M2.78%0Timeline
RIORIO TINTO PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 258,000 shares; 2024Q4: 258,000 shares; 2025Q1: 258,000 shares; 2025Q2: 127,754 shares; 2025Q3: 127,754 shares; 2025Q4: 127,754 shares 127,754$10.2M1.96%0Timeline
YPFYPF SOCIEDAD ANONIMAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 257,612 shares; 2025Q4: 257,042 shares 257,042$9.29M1.78%-570Timeline
SUZSUZANO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,538,724 shares; 2024Q4: 333,534 shares; 2025Q1: 440,597 shares; 2025Q2: 695,916 shares; 2025Q3: 224,498 shares; 2025Q4: 784,450 shares 784,450$7.33M1.4%+559,952Timeline
EXASEXACT SCIENCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 64,428 shares 64,428$6.54M1.25%newTimeline
EMBJEMBRAER S.A.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 39,948 shares; 2025Q1: not reported; 2025Q2: 17,782 shares; 2025Q3: 91,109 shares; 2025Q4: 99,372 shares 99,372$6.4M1.22%+8,263Timeline
LOMALOMA NEGRA C I A S A MTN 14Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 378,600 shares; 2024Q4: not reported; 2025Q1: 378,600 shares; 2025Q2: 378,600 shares; 2025Q3: 385,734 shares; 2025Q4: 380,833 shares 380,833$4.93M0.94%-4,901Timeline
EVEXEVE HLDG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 500,000 shares; 2024Q4: 500,000 shares; 2025Q1: 492,285 shares; 2025Q2: 500,000 shares; 2025Q3: 1,100,000 shares; 2025Q4: 1,100,000 shares 1,100,000$4.39M0.84%0Timeline
VIVTELEFONICA BRASIL SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 209,476 shares; 2025Q3: not reported; 2025Q4: 355,066 shares 355,066$4.21M0.81%newTimeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,301 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 24,050 shares; 2025Q4: 10,725 shares 10,725$3.76M0.72%-13,325Timeline
DISDISNEY WALT COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 128,347 shares; 2025Q1: 121,100 shares; 2025Q2: 44,901 shares; 2025Q3: 73,890 shares; 2025Q4: 32,820 shares 32,820$3.73M0.71%-41,070Timeline
XPXP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 225,664 shares; 2024Q4: 225,664 shares; 2025Q1: 225,664 shares; 2025Q2: 225,664 shares; 2025Q3: 225,664 shares; 2025Q4: 225,664 shares 225,664$3.69M0.71%0Timeline
MAMASTERCARD INCORPORATEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,069 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 6,165 shares 6,165$3.52M0.67%newTimeline
UGPULTRAPAR PARTICIPACOES SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 194,100 shares; 2025Q4: 874,882 shares 874,882$3.3M0.63%+680,782Timeline
TGNATEGNA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 168,689 shares 168,689$3.27M0.63%newTimeline
FXIISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,521,800 shares; 2024Q4: not reported; 2025Q1: 571,800 shares; 2025Q2: 77,718 shares; 2025Q3: 77,718 shares; 2025Q4: 77,718 shares 77,718$2.98M0.57%0Timeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 81 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 8,873 shares; 2025Q4: 8,826 shares 8,826$2.91M0.56%-47Timeline
TEAMATLASSIAN CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 15,834 shares; 2025Q4: 15,840 shares 15,840$2.57M0.49%+6Timeline
DAYDAYFORCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 34,337 shares 34,337$2.37M0.45%newTimeline
TXNMTXNM ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 39,978 shares 39,978$2.35M0.45%newTimeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 38,124 shares; 2024Q4: not reported; 2025Q1: 194,664 shares; 2025Q2: 98,664 shares; 2025Q3: 85,664 shares; 2025Q4: 7,664 shares 7,664$2.33M0.45%-78,000Timeline
ABEVAMBEV SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 564,136 shares; 2025Q3: 1,784,142 shares; 2025Q4: 647,014 shares 647,014$1.6M0.31%-1,137,128Timeline
AXIAYAXIA ENERGIA SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 221,291 shares; 2024Q4: 14,823 shares; 2025Q1: 588,811 shares; 2025Q2: 327,535 shares; 2025Q3: 184,528 shares; 2025Q4: 75,855 shares 75,855$695K0.13%-108,673Timeline
ZMZOOM COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 2,931 shares 2,931$253K0.05%newTimeline
GGALGRUPO FINANCIERO GALICIA S.AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 112,000 shares; 2025Q4: 3,763 shares 3,763$203K0.04%-108,237Timeline
SIDCOMPANHIA SIDERURGICA NACIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,593 shares; 2025Q1: 25,979 shares; 2025Q2: 56,779 shares; 2025Q3: 56,779 shares; 2025Q4: 56,779 shares 56,779$90.8K0.02%0Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
PLTRPALANTIR TECHNOLOGIES INC COMcall200,000$74K0
EWZISHARES INC MSCI BRAZIL ETFcall900,000$72K+740,000

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
NXENEXGEN ENERGY LTD1,689,155$15.1Mshares
KKELLANOVA126,694$10.4Mshares
ALEALLETE INC115,344$7.66Mshares
CCJCAMECO CORP88,801$7.45Mshares
APOAPOLLO GLOBAL MGMT INC47,951$6.39Mshares
GGBGERDAU SA1,921,865$5.96Mshares
INTERPUBLIC GROUP COSINTERPUBLIC GROUP COS194,366$5.42Mshares
SBSCOMPANHIA DE SANEAMENTO BASI206,416$5.14Mshares
URAGLOBAL X FDS106,292$5.07Mshares
VALEVALE S A287,819$3.13Mshares
CSANYCOSAN S A418,432$1.92Mshares
BMABANCO MACRO S A44,733$1.89Mshares
SUPVGRUPO SUPERVIELLE S.A.220,600$1.09Mshares
NOWSERVICENOW INC1,031$949Kshares
BBARBANCO BBVA ARGENTINA S A110,334$918Kshares
PBTPERMIAN BASIN RTY TR30,677$560Kshares
PLTRPALANTIR TECHNOLOGIES INC100,000$425Kput
KVUEKENVUE INC750,000$390Kcall
BAKBRASKEM SA155,017$375Kshares
FFFUTUREFUEL CORP88,465$343Kshares
AAPLAPPLE INC1,185$302Kshares
NMRKNEWMARK GROUP INC13,336$249Kshares
CFCF INDUSTRIES HOLD2,554$229Kshares
PARRPAR PAC HOLDINGS INC6,303$223Kshares
VISTVISTA ENERGY S.A.B. DE C.V.5,867$202Kshares
ACIALBERTSONS COMPANIES INC10,280$180Kshares
BRLTBRILLIANT EARTH GROUP INC45,463$94.1Kshares
SKINSKINHEALTH SYSTEMS INC45,787$91.1Kshares
GLDSPDR GOLD TR200,000$90Kput
TTITETRA TECHNOLOGIES INC DEL11,601$66.7Kshares
HPPHUDSON PAC PPTYS INC20,861$57.6Kshares
CHGGCHEGG INC36,348$54.9Kshares
MQMARQETA INC10,068$53.2Kshares
TDAYUSA TODAY CO INC10,665$44Kshares
SPYSTATE STR SPDR S&P 500 ETF T50,000$27.5Kput
RXTRACKSPACE TECHNOLOGY INC12,372$17.4Kshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001798686-26-000001 base2026-01-28acceptance time not in the bulk data set