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Squadra Investimentos Gestao de Recursos LTDA
Guilherme Aché · Hedge Fund · Long/Short Equity
Squadra Investimentos Gestao de Recursos LTDA is an independent investment management firm based in Rio de Janeiro, Brazil. Established in 2007 by Guilherme Aché and his partners, the firm specializes in the Brazilian equity markets through a fundamental, bottom-up investment approach. It is widely recognized in the financial industry for its rigorous forensic analysis, most notably for uncovering significant accounting irregularities at IRB Brasil. The firm manages a range of strategies including long-biased and long-only equity funds, serving both domestic and international institutional investors. Registered with both the CVM in Brazil and the SEC in the United States, Squadra maintains a strong reputation for capital preservation and long-term value creation.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +5.7% |
| YTD return | +1.4% |
| Sharpe ratio | -0.57 |
| Win rate | 47% |
| AUM | $2.3B |
| Inception | Oct 1, 2025 |
| Updated | Sep 4, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $2.3B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://www.squadrainvest.com.br |
Current Holdings
Updated on Sep 4, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| EQUEY | Equatorial Energia SA ADR | 18.4% | 0.0% |
| PTRRY | Petro Rio S.A | 18.0% | 0.0% |
| UGP | Ultrapar Participacoes SA ADR | 15.6% | +67.8% |
| NU | Nu Holdings Ltd | 15.5% | +10.5% |
| MELI | MercadoLibre Inc. | 15.0% | +11.6% |
| INTR | Inter & Co. Inc. Class A Common Shares | 7.6% | -16.3% |
| MLTTY | MULTIPLAN EMPREENDIMENTOS IMOB | 6.2% | 0.0% |
| HAPVY | Hapvida Participações e Investimentos S.A. | 1.6% | 0.0% |
| STNE | StoneCo Ltd | 1.6% | -18.5% |
| ITUB | Itau Unibanco Banco Holding SA | 0.3% | +19.3% |
| SBS | Companhia de Saneamento Basico do Estado de Sao Paulo SABESP ADR | 0.2% | +4.6% |
| ELPC | Companhia Paranaense de Energia - COPEL | 0.1% | +37.5% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Aug 31, 2026 | BUY | SBS | 0.2% → 0.2% |
| Aug 31, 2026 | BUY | ITUB | 0.3% → 0.3% |
| Aug 31, 2026 | BUY | EQUEY | 19.5% → 18.4% |
| Aug 31, 2026 | SELL | STNE | 3.1% → 1.6% |
| Aug 31, 2026 | BUY | PTRRY | 18.4% → 18.0% |
Investment Style Analysis
Squadra Investimentos Gestao de Recursos LTDA is widely recognized for employing a Long/Short Equity strategy. As of Sep 4, 2026, the firm oversees approximately $2.3B in assets under management (AUM). The portfolio demonstrates a clear preference for the Banks - Regional and Utilities - Regulated Electric sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Aug 31, Squadra Investimentos Gestao de Recursos LTDA made a significant move by increasing exposure to SBS. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
The institution follows a fundamentalist, bottom-up investment philosophy focused on delivering long-term risk-adjusted returns and prioritizing capital preservation. Their strategy involves identifying Brazilian companies where market prices deviate significantly from intrinsic values, applying a strict margin of safety principle. They are particularly known for their deep forensic research capabilities and an active short-selling discipline used to hedge portfolios and generate alpha. The firm avoids indexation bias and maintains a high-conviction portfolio, emphasizing the power of compounding returns over an extended investment horizon.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Squadra Investimentos Gestao de Recursos LTDA.
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Frequently asked questions
How is the simulated portfolio for Squadra Investimentos Gestao de Recursos LTDA constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Squadra Investimentos Gestao de Recursos LTDA's largest holding?
As of the latest filing, Squadra Investimentos Gestao de Recursos LTDA's top position is Equatorial Energia SA ADR (EQUEY), representing 18.4% of the portfolio. This reflects a high-conviction bet by the institution.
What is Squadra Investimentos Gestao de Recursos LTDA's historical performance and risk profile?
Our simulation indicates a total return of +5.7% with a win rate of 47%. Notably, the portfolio maintains a Sharpe Ratio of -0.57, suggesting an standard level of risk-adjusted returns compared to the broader market.
What sectors does Squadra Investimentos Gestao de Recursos LTDA primarily invest in?
Squadra Investimentos Gestao de Recursos LTDA has a strong preference for the Banks - Regional sector, which makes up 23.4% of their disclosed assets. The portfolio also has exposure to Utilities - Regulated Electric, indicating a specific thematic focus.
Is Squadra Investimentos Gestao de Recursos LTDA's portfolio concentrated or diversified?
Squadra Investimentos Gestao de Recursos LTDA runs a highly concentrated portfolio with 12 disclosed positions. The top 3 holdings alone account for 52.0% of the total portfolio weight, suggesting a strategy that favors deep research into a few key names.
How has Squadra Investimentos Gestao de Recursos LTDA performed in 2026?
Our AI-simulated model portfolio for Squadra Investimentos Gestao de Recursos LTDA tracks a Year-to-Date (YTD) return of +1.4%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Guilherme Aché manage Squadra Investimentos Gestao de Recursos LTDA directly?
Yes, Guilherme Aché serves as the key portfolio manager for Squadra Investimentos Gestao de Recursos LTDA, overseeing the investment strategy and final capital allocation decisions.