# SPX Gestao de Recursos Ltda: Form 13F holdings

An institutional investment manager in RIO DE JANEIRO. SEC CIK 1589176.

- Quarter ended: 2026-06-30
- Filed: 2026-08-19
- Reported value: $898.0m
- Positions: 77 (88 lines in the filing's table; lines for the same security and option type are added together here)
- Compared with: the 13F for the quarter ended 2026-03-31
- Filing: https://www.sec.gov/Archives/edgar/data/1589176/000158917626000004/

## Holdings

As filed, largest first. Reported value is what the manager stated at the quarter end (Jun 30, 2026), in US dollars; it is filing data, not a price. Weight is the share of the total reported value.

| Issuer | Class | Reported value | Weight | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | ---: | --- | --- |
| XP INC - CLASS A | CL A | $78.3m | 8.7% | 4,813,132 |  | Added +3,626,059 |
| [LATAM AIRLINES GROUP-SP ADR (LTM)](/companies/ltm.md) | SPONSORED ADR | $61.0m | 6.8% | 1,046,638 |  | Added +164,662 |
| [TRANSPORT GAS SUR B ADR (TGS)](/companies/tgs.md) | SPONSORED ADS B | $54.0m | 6.0% | 1,815,590 |  | Added +790,454 |
| [PAMPA ENERGIA SA (PAM)](/companies/pam.md) | SPONS ADR LVL I | $45.0m | 5.0% | 547,637 |  | Added +383,994 |
| VINCI COMPASS INVESTMENTS LTD | COM CL A | $43.2m | 4.8% | 4,441,517 |  | Reduced −230,656 |
| ARCOS DORADOS HOLDINGS INC | SHS CLASS -A - | $36.3m | 4.0% | 4,501,327 |  | Reduced −1,447,959 |
| STONECO LTD-A | COM CL A | $32.6m | 3.6% | 3,004,035 |  | Reduced −4,723,979 |
| [EMBRAER SA (EMBJ)](/companies/embj.md) | SPONSORED ADR | $32.1m | 3.6% | 503,225 |  | Added +149,936 |
| [BANCO BRADESCO (BBD)](/companies/bbd.md) | SP ADR PFD NEW | $30.8m | 3.4% | 8,863,299 |  | Reduced −2,188,675 |
| [TELECOM ARGENTINA (TEO)](/companies/teo.md) | SPON ADR REP B | $30.2m | 3.4% | 2,320,411 |  | Added +1,587,714 |
| [HALLIBURTON CO (HAL)](/companies/hal.md) | COM | $29.8m | 3.3% | 876,300 |  | New +876,300 |
| [RIO TINTO PLC (RIO)](/companies/rio.md) | SPONSORED ADR | $29.3m | 3.3% | 308,586 |  | Added +259,936 |
| [MICROSOFT CORPORATION (MSFT)](/companies/msft.md) | COM | $24.0m | 2.7% | 64,457 |  | New +64,457 |
| INTERCORP FINANCIAL SERVICES | SHS | $22.9m | 2.5% | 401,546 |  | Added +401,346 |
| [NVIDIA CORP (NVDA)](/companies/nvda.md) | COM | $22.6m | 2.5% | 112,739 |  | Reduced −150,461 |
| [ALPHABET INC CLASS A COMMON STOCK (GOOGL)](/companies/googl.md) | CAP STK CL A | $21.9m | 2.4% | 61,250 |  | New +61,250 |
| [FREEPORT-MCMORAN INC (FCX)](/companies/fcx.md) | CL B | $21.6m | 2.4% | 344,076 |  | New +344,076 |
| ISHARES MSCI BRAZIL ETF | MSCI BRAZIL ETF | $20.1m | 2.2% | 581,348 |  | Added +88,180 |
| [MICRON TECHNOLOGY INC (MU)](/companies/mu.md) | COM | $19.7m | 2.2% | 17,083 |  | Added +16,868 |
| INTER & CO INC - CL A | CLASS A COM | $18.5m | 2.1% | 3,414,933 |  | Reduced −608,869 |
| CREDICORP | COM | $17.1m | 1.9% | 43,967 |  | Reduced −23,436 |
| [MASTERCARD INCORPORATED (MA)](/companies/ma.md) | CL A | $16.3m | 1.8% | 31,702 |  | New +31,702 |
| [VISA INC. CMN CLASS A (V)](/companies/v.md) | COM | $15.6m | 1.7% | 45,517 |  | New +45,517 |
| [META PLATFORMS INC (META)](/companies/meta.md) | CL A | $14.7m | 1.6% | 26,027 |  | Added +17,547 |
| [PETROLEO BRASILEIRO SA PETRO (PBR)](/companies/pbr.md) | SP ADR NON VTG | $14.5m | 1.6% | 992,898 |  | Reduced −5,881,807 |
| [AMAZON.COM INC (AMZN)](/companies/amzn.md) | COM | $14.5m | 1.6% | 60,746 |  | Reduced −1,894 |
| [TAIWAN SEMICONDUCTOR MFG ADS LTD ADS 1ADS EQUALS 5ORDS (TSM)](/companies/tsm.md) | COM | $13.7m | 1.5% | 28,621 |  | Reduced −30,650 |
| [BANCO SANTANDER CHILE (BSAC)](/companies/bsac.md) | SP ADR REP COM | $11.1m | 1.2% | 336,710 |  | Added +280,231 |
| [GRUPO CIBEST SA-ADR (CIB)](/companies/cib.md) | SPON ADS | $7.8m | 0.9% | 98,727 |  | Added +82,485 |
| [LUMENTUM HOLDINGS INC (LITE)](/companies/lite.md) | COM | $7.6m | 0.8% | 8,875 |  | New +8,875 |
| [WESTERN DIGITAL (WDC)](/companies/wdc.md) | COM | $7.2m | 0.8% | 11,300 |  | New +11,300 |
| [COHERENT CORP (COHR)](/companies/cohr.md) | COM | $6.6m | 0.7% | 16,750 |  | New +16,750 |
| [VALE SA SP ADR (VALE)](/companies/vale.md) | SPONSORED ADS | $6.0m | 0.7% | 398,493 |  | Reduced −5,141,115 |
| [CIA PARANAENSE DE ENER-ADR (ELPC)](/companies/elpc.md) | SPONSORED ADS | $5.4m | 0.6% | 466,331 |  | Reduced −435,778 |
| [APPLIED OPTOELR (AAOI)](/companies/aaoi.md) | COM | $5.3m | 0.6% | 35,500 |  | Added +35,500 |
| SEAGATE TECHNOLOGY HOLDINGS | ORD SHS | $5.0m | 0.6% | 5,200 |  | New +5,200 |
| [GRUPO FINANCIERO GALICIA (GGAL)](/companies/ggal.md) | SPONSORED ADR | $4.3m | 0.5% | 85,000 |  | New +85,000 |
| SPOTIFY TECHNOLOGY S.A. CMN | COM | $4.0m | 0.4% | 8,626 |  | New +8,626 |
| [ITAU UNIBANCO HOLDING SA (ITUB)](/companies/itub.md) | SPON ADR REP PFD | $3.9m | 0.4% | 479,169 |  | New +479,169 |
| ON HOLDING AG CMN CLASS A | COM | $3.8m | 0.4% | 108,412 |  | New +108,412 |
| [BOOKING HOLDINGS INC. CMN (BKNG)](/companies/bkng.md) | COM | $3.6m | 0.4% | 19,961 |  | New +19,961 |
| [BROADCOM INC. CMN (AVGO)](/companies/avgo.md) | COM | $2.7m | 0.3% | 7,098 |  | New +7,098 |
| [APPLE INC. CMN (AAPL)](/companies/aapl.md) | COM | $2.3m | 0.3% | 7,800 |  | New +7,800 |
| [BASIC SANITATION COMPANY OF THE STATE OF (SBS)](/companies/sbs.md) | SPONSORED ADR | $2.0m | 0.2% | 352,413 |  | Added +174,463 |
| [ULTRAPAR PARTICIPACOES (UGP)](/companies/ugp.md) | SP ADR REP COM | $1.9m | 0.2% | 378,023 |  | Reduced −141,103 |
| [TERADYNE INC CMN (TER)](/companies/ter.md) | COM | $1.9m | 0.2% | 3,864 |  | New +3,864 |
| SHARKNINJA, INC. CMN | COM | $1.8m | 0.2% | 11,808 |  | Reduced −92,362 |
| [ACM RESEARCH, INC. CMN CLASS A (ACMR)](/companies/acmr.md) | COM | $1.8m | 0.2% | 13,815 |  | New +13,815 |
| [BANCO MACRO BANSUD SA (BMA)](/companies/bma.md) | SPON ADR B | $1.7m | 0.2% | 18,567 |  | New +18,567 |
| [ORACLE CORPORATION CMN (ORCL)](/companies/orcl.md) | COM | $1.7m | 0.2% | 11,365 |  | New +11,365 |
| [COSTCO WHOLESALE CORPORATION CMN (COST)](/companies/cost.md) | COM | $1.5m | 0.2% | 1,600 |  | New +1,600 |
| [WALMART INC CMN (WMT)](/companies/wmt.md) | COM | $1.5m | 0.2% | 13,205 |  | New +13,205 |
| [NATERA, INC. CMN (NTRA)](/companies/ntra.md) | COM | $1.5m | 0.2% | 5,400 |  | New +5,400 |
| [ROBINHOOD MARKETS, INC. CMN (HOOD)](/companies/hood.md) | COM | $1.4m | 0.2% | 14,338 |  | New +14,338 |
| [PETROLEO BRASILEIRO ADR (PBR)](/companies/pbr.md) | SPONSORED ADR | $1.3m | 0.1% | 80,480 |  | Reduced −1,652,362 |
| [EVE HOLDING INC (EVEX)](/companies/evex.md) | COM | $1.0m | 0.1% | 414,632 |  | Reduced −1,878,998 |
| [AXIA ENERGIA SA (AXIAY)](/companies/axiay.md) | SPONSORED ADR | $1.0m | 0.1% | 98,495 |  | Added +97,210 |
| [APPLIED MATERIALS INC CMN (AMAT)](/companies/amat.md) | COM | $903.8k | 0.1% | 1,250 |  | New +1,250 |
| [COMPNHIA ENRG (CIG)](/companies/cig.md) | SP ADR N-V PFD | $865.4k | <0.1% | 412,092 |  | Added +43,869 |
| [HYPERLIQUID STRATEGIES INC CMN (PURR)](/companies/purr.md) | COM | $860.4k | <0.1% | 109,330 |  | New +109,330 |
| [VERTIV HOLDINGS LLC CMN CLASS A (VRT)](/companies/vrt.md) | COM | $821.6k | <0.1% | 2,454 |  | New +2,454 |
| ISHARE CHINA LARGE CAP ETF | CHINA LG-CAP ETF | $801.4k | <0.1% | 25,370 |  | Unchanged |
| [LAM RESEARCH CORPORATION CMN (LRCX)](/companies/lrcx.md) | COM | $747.5k | <0.1% | 1,725 |  | Added +1,725 |
| [VNET GROUP INC SPONSORED ADR CMN (VNET)](/companies/vnet.md) | COM | $641.5k | <0.1% | 79,788 |  | New +79,788 |
| [INTEL CORP (INTC)](/companies/intc.md) | COM | $640.9k | <0.1% | 4,590 |  | New +4,590 |
| [TERAWULF INC CMN (WULF)](/companies/wulf.md) | COM | $638.3k | <0.1% | 25,841 |  | New +25,841 |
| APTIV HOLDINGS LTD | COM SHS | $636.5k | <0.1% | 10,370 |  | New +10,370 |
| ASML HOLDING N.V. ADR CMN | COM | $578.9k | <0.1% | 291 |  | New +291 |
| [SUZANO SA (SUZ)](/companies/suz.md) | SPON ADS | $291.9k | <0.1% | 37,621 |  | Reduced −12,296 |
| PATRIA INVESTMENTS LTD-A | COM CL A | $203.6k | <0.1% | 18,540 |  | New +18,540 |
| [QUALCOMM INC (QCOM)](/companies/qcom.md) | COM | $190.3k | <0.1% | 1,030 |  | New +1,030 |
| [COMPHANIA DE BEBIDAS DAS AMERICAS  AMBEV (ABEV)](/companies/abev.md) | SPONSORED ADR | $159.7k | <0.1% | 50,872 |  | Reduced −19,536 |
| [AZUL SA-SPON ADR (AZUL)](/companies/azul.md) | SPONSORED ADR | $140.9k | <0.1% | 15,676 |  | New +15,676 |
| [BANCO DE CHILE (BCH)](/companies/bch.md) | SPONSORED ADS | $124.5k | <0.1% | 3,131 |  | Added +1,688 |
| [TIM SA-ADR (TIMB)](/companies/timb.md) | SPONSORED ADR | $121.5k | <0.1% | 5,670 |  | New +5,670 |
| [AXIA ENERGIA SA (AXIAY)](/companies/axiay.md) | SPON ADS PF CL C | $19.1k | <0.1% | 1,809 |  | Reduced −667,226 |
| [COSAN SA -ADR -W/I (CSANY)](/companies/csany.md) | ADS | $1.2k | <0.1% | 425 |  | New +425 |

## Sold out

Held at the end of the quarter before and not reported this quarter.

| Issuer | Class | Reported value | Weight | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | ---: | --- | --- |
| [ALCOA CORP (AA)](/companies/aa.md) | COM | $0 | 0.0% | 0 |  | Sold out −155,300 |
| [ALIBABA GROUP HOLDING LTD (BABA)](/companies/baba.md) | SPONSORED ADS | $0 | 0.0% | 0 |  | Sold out −16 |
| AXIA ENERGIA SA | SPON ADS PFD B1 | $0 | 0.0% | 0 |  | Sold out −30,376 |
| [BANCO SANTANDER (BSBR)](/companies/bsbr.md) | ADS REP 1 UNIT | $0 | 0.0% | 0 |  | Sold out −86,883 |
| [BHP BILLITON LTD -SPON ADR (BHP)](/companies/bhp.md) | SPONSORED ADR | $0 | 0.0% | 0 |  | Sold out 0 |
| [BLUE OWL CAPITAL INC (OWL)](/companies/owl.md) | COM CL A | $0 | 0.0% | 0 |  | Sold out −489,660 |
| [BP PLC (BP)](/companies/bp.md) | SPONSORED ADR | $0 | 0.0% | 0 |  | Sold out −354,344 |
| [BR ADVISORY PARTNERS PARTICI (BRBI)](/companies/brbi.md) | SPONSORED ADS | $0 | 0.0% | 0 |  | Sold out −525 |
| CALL- CRWV 100 @ 150 EXP 06/18/2026 | CALL | $0 | 0.0% | 0 | Call | Sold out −100 |
| CALL- IGV 100 @ 90  EXP 06/18/2026 | CALL | $0 | 0.0% | 0 | Call | Sold out −1,300 |
| CALL- IWM 100 @ 280 EXP 06/18/2026 | CALL | $0 | 0.0% | 0 | Call | Sold out −1,000 |
| CALL- IWM 100 @ 290 EXP 06/18/2026 | CALL | $0 | 0.0% | 0 | Call | Sold out −1,000 |
| CALL- PBR 100 @ 29  EXP 04/17/2026 | CALL | $0 | 0.0% | 0 | Call | Sold out −3,850 |
| CANTALOUPE INC | COM | $0 | 0.0% | 0 |  | Sold out −298,600 |
| CANTOR EQUITY PARTNERS-CL A | CL A ORD SHS | $0 | 0.0% | 0 |  | Sold out −305,000 |
| [CENTRAL PUERTO-SPONSORED ADR (CEPU)](/companies/cepu.md) | SPONSORED ADR | $0 | 0.0% | 0 |  | Sold out −361,495 |
| [COMPNHIA ENRG C (CIG)](/companies/cig.md) | SPONSORED ADR | $0 | 0.0% | 0 |  | Sold out 0 |
| COPA HOLDINGS SA | CL A | $0 | 0.0% | 0 |  | Sold out −224,792 |
| [CORE SCIENTIFIC INC (CORZ)](/companies/corz.md) | COM | $0 | 0.0% | 0 |  | Sold out −205,350 |
| [CORPAY INC (CPAY)](/companies/cpay.md) | COM SHS | $0 | 0.0% | 0 |  | Sold out −29,260 |
| [ENEL CHILE S.A. (ENIC)](/companies/enic.md) | SPONSORED ADR | $0 | 0.0% | 0 |  | Sold out −42,596 |
| [GERDAU SA (GGB)](/companies/ggb.md) | SPON ADR REP PFD | $0 | 0.0% | 0 |  | Sold out −4,254,223 |
| [GRINDR INC (GRND)](/companies/grnd.md) | COM | $0 | 0.0% | 0 |  | Sold out −455,800 |
| IREN LTD | ORDINARY SHARES | $0 | 0.0% | 0 |  | Sold out −28,950 |
| ISHARES MSCI CHN | MSCI CHINA ETF | $0 | 0.0% | 0 |  | Sold out −972,000 |
| ISHRS BRAZIL SM | BRAZIL SM-CP ETF | $0 | 0.0% | 0 |  | Sold out −3,617 |
| [JABIL IN (JBL)](/companies/jbl.md) | COM | $0 | 0.0% | 0 |  | Sold out −4,000 |
| [LUXEXPERIENCE BV (LUXE)](/companies/luxe.md) | ADS | $0 | 0.0% | 0 |  | Sold out −523,410 |
| NAYAX LTD | SHS | $0 | 0.0% | 0 |  | Sold out −20,524 |
| NU HOLDINGS LTD/CAYMAN ISL-A | ORD SHS CL A | $0 | 0.0% | 0 |  | Sold out −2,569,755 |
| PAGAYA TECHNOLOGIES LTD -A | CL A NEW | $0 | 0.0% | 0 |  | Sold out −180,100 |
| PUT - EEM 100 @ 56  EXP 04/17/2026 | PUT | $0 | 0.0% | 0 | Put | Sold out −17,000 |
| PUT - EWY 100 @ 100 EXP 05/15/2026 | PUT | $0 | 0.0% | 0 | Put | Sold out −2,091 |
| PUT - JETS 100 @ 22 EXP 04/17/2026 | PUT | $0 | 0.0% | 0 | Put | Sold out −6,000 |
| PUT - SMH 100 @ 375 EXP 04/10/2026 | PUT | $0 | 0.0% | 0 | Put | Sold out −700 |
| [SHELL PLC-ADR (SHEL)](/companies/shel.md) | SPON ADS | $0 | 0.0% | 0 |  | Sold out −52,300 |
| [SOLSTICE ADVANCED MATERI-W/I (SOLS)](/companies/sols.md) | COM SHS | $0 | 0.0% | 0 |  | Sold out −29,600 |
| [SOUTHERN COPPER CORP (SCCO)](/companies/scco.md) | COM | $0 | 0.0% | 0 |  | Sold out −1 |
| STATE STREET CONSUMER STAPLES | STATE STREET CON | $0 | 0.0% | 0 |  | Sold out −1,466,111 |
| [STEEL DYNAMICS (STLD)](/companies/stld.md) | COM | $0 | 0.0% | 0 |  | Sold out −419 |
| [TALEN ENERGY CORP (TLN)](/companies/tln.md) | COM | $0 | 0.0% | 0 |  | Sold out −7,490 |
| [TRANSDIGM GROUP INC (TDG)](/companies/tdg.md) | COM | $0 | 0.0% | 0 |  | Sold out −1,780 |
| VANECK OIL SERVICES ETF | OIL SERVICES ETF | $0 | 0.0% | 0 |  | Sold out −16,500 |

Source: SEC EDGAR, Form 13F-HR, accession 0001589176-26-000004. Last ingested by Listed: Oct 22, 2026, 05:26 ET. No prices; not investment advice.