Navi International - Administradora e Gestora de Recursos Financeiros Ltda.

CIK

2044610

Location

SAO PAULO, D5

Portfolio Value

Small $203,982,346

Diversification

Moderately concentrated

Filing Date

Global Rank

#4,147 / 8,617 ▲ 1299 · as of Mar 2026

Top Industry

Banks - Regional 28.4%

3Y Alpha vs SPY

-54.7%

Period ended 4 months ago

Filed May 15, 2026 · 2mo

2 quarters · since Dec 2025

Clone Performance

Feb 2026–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

-13.8%

SPY

+9.3%

Annualised alpha

-53.3%

Max drawdown

−25.3%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

12 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

28.2%

−29.7 pts

Top 5

95.8%

+2.1 pts

Top 10

99.8%

−0.1 pts

HHI

2,295

Moderately concentrated−1,434

Portfolio Trend

2 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	53.4%	$109,017,964	4
Consumer Cyclical	25.7%	$52,399,680	1
Technology	14.1%	$28,848,642	1
Basic Materials	2.7%	$5,550,631	2
Energy	2.7%	$5,538,693	1
Industrials	0.8%	$1,728,544	2
Utilities	0.4%	$898,192	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

4 positions

Ticker	Company	Δ Shares	Shares	Value
NU	Nu Holdings Ltd.	+3,465,984	4,008,517	$57,602,389
XP	XP Inc.	+2,089,498	2,678,950	$51,007,208
STNE	StoneCo Ltd.	+883,340	2,043,105	$28,848,642
AXIA	AXIA Energia S.A.	+37,918	79,627	$898,192
No positions match the current search.

Trimmed

Positions the filer reduced

3 positions

Ticker	Company	Δ Shares	Shares	Value
PBR	Petrobras - Petroleo Brasileiro SA	−390,647	266,925	$5,538,693
BBD	Bank Bradesco	−329,051	56,096	$204,750
MELI	Mercadolibre Inc	−4,891	30,306	$52,399,680
No positions match the current search.

New Positions

Positions the filer opened this quarter

2 positions

Ticker	Company	Shares	Value
LTM	Latam Airlines Group S.A.	20,652	$1,021,034
EMBJ	Embraer S.A.	11,923	$707,510
No positions match the current search.

Sold Out

Positions the filer fully exited

1 positions

Ticker	Company	Shares	Value	Open
EVEX	Eve Holding, Inc.	125,832	$502,069
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

12 positions · $203,982,346 total · as of Mar 31, 2026

All sectors Basic Materials Consumer Cyclical Energy Financial Services Industrials Technology Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
NU	Nu Holdings Ltd. Financial Services	Added	4,008,517	+3,465,984	$57,602,389	+534.2%	28.24%
MELI	Mercadolibre Inc Consumer Cyclical	Reduced	30,306	-4,891	$52,399,680	−26.1%	25.69%
XP	XP Inc. Financial Services	Added	2,678,950	+2,089,498	$51,007,208	+428.6%	25.01%
STNE	StoneCo Ltd. Technology	Added	2,043,105	+883,340	$28,848,642	+68.2%	14.14%
PBR	Petrobras - Petroleo Brasileiro SA Energy	Reduced	266,925	-390,647	$5,538,693	−28.9%	2.72%
SUZ	Suzano S.A. Basic Materials	Held	356,157	0	$3,565,131	+7.2%	1.75%
GGB	Gerdau S.A. Basic Materials	Held	550,000	0	$1,985,500	−2.2%	0.97%
LTM	Latam Airlines Group S.A. Industrials	NEW	20,652	NEW	$1,021,034	NEW	0.50%
AXIA	AXIA Energia S.A. Utilities	Added	79,627	+37,918	$898,192	+135.1%	0.44%
EMBJ	Embraer S.A. Industrials	NEW	11,923	NEW	$707,510	NEW	0.35%
BBD	Bank Bradesco Financial Services	Reduced	56,096	-329,051	$204,750	−84.0%	0.10%
ITUB	Itau Unibanco Holding S.A. Financial Services	Held	24,298	0	$203,617	+17.0%	0.10%