# EDGAR Filing Document

**Accession Number:** 0001622610
**File Stem:** 0001622610-25-000004
**Filing Date:** 2025-8
**Character Count:** 9379
**Document Hash:** 1effef2da6f6e00766b32595625dfcc7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001622610-25-000004.hdr.sgml**: 20250811

**ACCESSION NUMBER**: 0001622610-25-000004

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250811

**DATE AS OF CHANGE**: 20250811

**EFFECTIVENESS DATE**: 20250811

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Absolute Gestao de Investimentos Ltda.
- **CENTRAL INDEX KEY:** 0001622610

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** D5
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-24162
- **FILM NUMBER:** 251200635

**BUSINESS ADDRESS:**
- **STREET 1:** AV BRIGADEIRO FARIA LIMA, N 3355, CJ 282
- **STREET 2:** ITAIM BIBI
- **CITY:** SAO PAULO
- **STATE:** D5
- **ZIP:** 04538-133
- **BUSINESS PHONE:** 55 11 3199-4450

**MAIL ADDRESS:**
- **STREET 1:** AV BRIGADEIRO FARIA LIMA, N 3355, CJ 282
- **STREET 2:** ITAIM BIBI
- **CITY:** SAO PAULO
- **STATE:** D5
- **ZIP:** 04538-133

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Absolute Gestao de Investimentos Ltda.<br>**Address:** AV BRIGADEIRO FARIA LIMA N 3355 CJ 282<br>ITAIM BIBI<br>SAO PAULO, D5 04538-133

**Form 13F File Number:** 028-24162

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Tiago Marcos Varela Santanna<br>**Title:** Managing Partner<br>**Phone:** 55-11-31994450

**Signature, Place, and Date of Signing:**

/s/ Tiago Marcos Varela Santanna  Sao Paulo, D5  08-11-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 57

**Form 13F Information Table Value Total:** $311805882

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| GSR III ACQUISITION CORP | CL A | G4R103107 |  | 134875 | 12500 | SH |  | SOLE |  | 12500 | 0 | 0 |
| STERLING INFRASTRUCTURE INC | COM | 859241101 |  | 200735 | 870 | SH |  | SOLE |  | 870 | 0 | 0 |
| CONSTRUCTION PARTNERS INC | COM CL A | 21044C107 |  | 212773 | 2002 | SH |  | SOLE |  | 2002 | 0 | 0 |
| TPG INC | COM CL A | 872657101 |  | 217510 | 4147 | SH |  | SOLE |  | 4147 | 0 | 0 |
| CARLYLE GROUP INC | COM | 14316J108 |  | 217679 | 4235 | SH |  | SOLE |  | 4235 | 0 | 0 |
| LISTED FDS TR | SPEAR ALPHA ETF | 53656F383 |  | 219662 | 7421 | SH |  | SOLE |  | 7421 | 0 | 0 |
| LAZARD INC | COM | 52110M109 |  | 220420 | 4594 | SH |  | SOLE |  | 4594 | 0 | 0 |
| ARGAN INC | COM | 04010E109 |  | 222685 | 1010 | SH |  | SOLE |  | 1010 | 0 | 0 |
| EVERCORE INC | CLASS A | 29977A105 |  | 223307 | 827 | SH |  | SOLE |  | 827 | 0 | 0 |
| POWELL INDS INC | COM | 739128106 |  | 224971 | 1069 | SH |  | SOLE |  | 1069 | 0 | 0 |
| TUTOR PERINI CORP | COM | 901109108 |  | 225714 | 4825 | SH |  | SOLE |  | 4825 | 0 | 0 |
| FLUOR CORP NEW | COM | 343412102 |  | 228203 | 4451 | SH |  | SOLE |  | 4451 | 0 | 0 |
| SPDR DOW JONES INDL AVERAGE | CALL | 78467X909 |  | 244200 | 1200 | SH | Call | SOLE |  | 1200 | 0 | 0 |
| VANECK ETF TRUST | JP MRGAN EM LOC | 92189H300 |  | 253500 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| JPMORGAN CHASE  CO. | CALL | 46625H900 |  | 257000 | 2000 | SH | Call | SOLE |  | 2000 | 0 | 0 |
| ZETA GLOBAL HOLDINGS CORP | CL A | 98956A105 |  | 309800 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| IREN LIMITED | ORDINARY SHARES | Q4982L109 |  | 364250 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 401739 | 300 | SH |  | SOLE |  | 300 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 437260 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| GRUPO FINANCIERO GALICIA S.A | SPONSORED ADR | 399909100 |  | 478705 | 9500 | SH |  | SOLE |  | 9500 | 0 | 0 |
| ISHARES TR | CALL | 464287902 |  | 492960 | 9480 | SH | Call | SOLE |  | 9480 | 0 | 0 |
| DLOCAL LTD | CLASS A COM | G29018101 |  | 510810 | 45045 | SH |  | SOLE |  | 45045 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 677875 | 5500 | SH |  | SOLE |  | 5500 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 738090 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 774000 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| MILLICOM INTL CELLULAR S A | COM STK | L6388F110 |  | 781699 | 20862 | SH |  | SOLE |  | 20862 | 0 | 0 |
| SNOWFLAKE INC | CL A | 833445109 |  | 794384 | 3550 | SH |  | SOLE |  | 3550 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 979650 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| RIO TINTO PLC | SPONSORED ADR | 767204100 |  | 1166600 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 1276800 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| ISHARES INC | CALL | 464286900 |  | 1298402 | 24880 | SH | Call | SOLE |  | 24880 | 0 | 0 |
| ISHARES INC | MSCI MEXICO ETF | 464286822 |  | 1332320 | 22000 | SH |  | SOLE |  | 22000 | 0 | 0 |
| LULULEMON ATHLETICA INC | COM | 550021109 |  | 1425480 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| SHARKNINJA INC | COM SHS | G8068L108 |  | 1484850 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| AMAZON COM INC COM | COM | 023135106 |  | 1607690 | 7328 | SH |  | SOLE |  | 7328 | 0 | 0 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 |  | 1654200 | 45000 | SH |  | SOLE |  | 45000 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 1773750 | 12500 | SH |  | SOLE |  | 12500 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 1774500 | 37500 | SH |  | SOLE |  | 37500 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 1817094 | 12900 | SH |  | SOLE |  | 12900 | 0 | 0 |
| KRANESHARES TRUST | CSI CHI INTERNET | 500767306 |  | 2217718 | 64600 | SH |  | SOLE |  | 64600 | 0 | 0 |
| ISHARES TR | CALL | 464287904 |  | 1996392 | 59982 | SH | Call | SOLE |  | 59982 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 2514527 | 22172 | SH |  | SOLE |  | 22172 | 0 | 0 |
| GLOBANT S A | COM | L44385109 |  | 2588940 | 28500 | SH |  | SOLE |  | 28500 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 2731565 | 15500 | SH |  | SOLE |  | 15500 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 2746418 | 12126 | SH |  | SOLE |  | 12126 | 0 | 0 |
| PAMPA ENERGIA S A | SPONS ADR LVL I | 697660207 |  | 2882531 | 41547 | SH |  | SOLE |  | 41547 | 0 | 0 |
| VTEX | SHS CL A | G9470A102 |  | 3702151 | 560932 | SH |  | SOLE |  | 560932 | 0 | 0 |
| NV5 GLOBAL INC | COM | 62945V109 |  | 5157613 | 223370 | SH |  | SOLE |  | 223370 | 0 | 0 |
| MAG SILVER CORP | COM | 55903Q104 |  | 10152331 | 480470 | SH |  | SOLE |  | 480470 | 0 | 0 |
| PAGSEGURO DIGITAL LTD | COM CL A | G68707101 |  | 13424712 | 1392605 | SH |  | SOLE |  | 1392605 | 0 | 0 |
| KELLANOVA | COM | 487836108 |  | 14474460 | 182000 | SH |  | SOLE |  | 182000 | 0 | 0 |
| XP INC | CL A | G98239109 |  | 15761898 | 780292 | SH |  | SOLE |  | 780292 | 0 | 0 |
| ALLETE INC | COM NEW | 018522300 |  | 17542046 | 273795 | SH |  | SOLE |  | 273795 | 0 | 0 |
| MR COOPER GROUP INC | COM | 62482R107 |  | 24227526 | 162372 | SH |  | SOLE |  | 162372 | 0 | 0 |
| FRONTIER COMMUNICATIONS PARE | COM | 35909D109 |  | 25963356 | 713279 | SH |  | SOLE |  | 713279 | 0 | 0 |
| JUNIPER NETWORKS INC | COM | 48203R104 |  | 49923002 | 1250263 | SH |  | SOLE |  | 1250263 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 86142554 | 1785708 | SH |  | SOLE |  | 1785708 | 0 | 0 |

---