Instuitional Investor - Turim 21 Investimentos Ltda.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Spdr S & P 500 Etf Trust	SPY	160,427	$89,741,260	24.1%
2.	Ishares Trust	VLUE	449,263	$36,718,265	9.86%
3.	Spdr Bloomberg 1-3 Month T-B		382,140	$35,053,702	9.42%
4.	Vale S A	VALE	3,131,646	$31,253,827	8.39%
5.	Invesco S&P 500 Equal Weight - S&P500 EQL WGT		140,820	$24,394,249	6.55%