Instuitional Investor - Spx Equities Gestao De Recursos Ltda

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Vale S A	VALE	5,388,044	$53,772,679	6.92%
2.	Ishares Trust	IEF	454,866	$47,565,338	6.12%
3.	Spdr S & P Midcap 400 Etf Trust	MDY	86,698	$46,251,649	5.96%
4.	Copa Holdings Sa	CPA	447,781	$41,401,831	5.33%
5.	Vinci Partners Investments-A		3,505,030	$35,470,904	4.57%