Fundamenta Capital S.A.
Fundamenta Capital S.A. reported 12 US-listed holdings worth $143.1 million in its 13F for the quarter ended 30 September 2026, filed 3 November 2026. Its largest: Credicorp Ltd (17.3%), Enel Chile S.a. (14.6%) and Pampa Energia S A (12.2%). Against the quarter before, it opened 2 positions, added to 7, trimmed 1 and sold out of 4.
The 12 largest of its 12 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q2 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned -12.5% over the 3 quarters to 30 September 2026, against +11.8% for the S&P 500.
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Its positions against its 13F for the quarter to 30 June 2026; a change under 0.1% of a position counts as held
Opened 2
- Petróleo Brasileiro S.A. (Petrobras) PBR$10.4 million
- Geopark Holdings Limited GPRK$3.3 million
Added to 7
- Banco De Chile BCH+89,000 shares · +45%
- Telecom Argentina SA TEO+137,921 shares · +20%
- Banco Santander Chile New BSAC+33,000 shares · +8%
- Transportadora De Gas Sur TGS+24,818 shares · +4%
- Pampa Energia S A PAM+5,000 shares · +2%
- Enel Chile S.a. ENIC+72,173 shares · +1%
- Sociedad Quimica Y Minera De SQM+1,170 shares · +3%
Trimmed 1
- Credicorp Ltd BAP-5,000 shares · -7%
Sold out of 4
- Compania Cervecer-As Unidas S.a. CCU$13.4 million last quarter
- Vista Energy S.a.b. De C.V. VIST$13.3 million last quarter
- Embraer S.a. EMBJ$10.0 million last quarter
- Centrais Eletricas Brasileir AXIAY$3.5 million last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| Credicorp Ltd BAP | 65.0K | $24.7 million | 17.25% | -5.0K |
| Enel Chile S.a. ENIC | 4.9M | $20.9 million | 14.62% | +72.2K |
| Pampa Energia S A PAM | 224.5K | $17.5 million | 12.20% | +5.0K |
| Transportadora De Gas Sur TGS | 576.6K | $15.0 million | 10.45% | +24.8K |
| Banco Santander Chile New BSAC | 431.8K | $14.4 million | 10.06% | +33.0K |
| Banco De Chile BCH | 284.7K | $11.4 million | 7.96% | +89.0K |
| Petróleo Brasileiro S.A. (Petrobras) PBR | 500.0K | $10.4 million | 7.29% | new |
| Telecom Argentina SA TEO | 835.8K | $10.3 million | 7.17% | +137.9K |
| Grupo Financiero Galicia S A GGAL | 182.3K | $6.8 million | 4.74% | no change |
| Arcos Dorados Holdings Inc. ARCO | 769.4K | $5.5 million | 3.84% | no change |
| Geopark Holdings Limited GPRK | 320.0K | $3.3 million | 2.34% | new |
| Sociedad Quimica Y Minera De SQM | 45.6K | $3.0 million | 2.07% | +1.2K |