Composição Diária do Ibovespa desde 1999 - Dados Trimestrais

1999 1T 1999 2T 1999 3T 1999 4T 2000 1T 2000 2T 2000 3T 2000 4T

1999 2000
Ativos 1T 2T 3T 4T 1T 2T 3T 4T
AGEN11
ALLL11
ALLL3
AMBV4 -16.3 -10.2 -10.9 -9.3 238.1 39.4
BBAS3 3.8 4.8 2.8 7.1 12.5 7.0 14.9 4.4
BBDC4 8.0 8.0 7.8 11.8 9.4 9.6 10.1 11.3
BISA3
BRAP4 -12.7 13.8
BRFS3 25.8 34.5 42.4 36.5 21.8 24.5 28.3 34.4
BRKM5 24.6 4.1 5.2 6.5 4.4 4.3 4.5 4.7
BRML3
BRTO3 5.8 11.2 62.8 -36.8 -517.9 74.1 21.3 18.8
BRTO4 10.5 18.0 72.9 -44.9 -524.9 89.8 31.0 19.6
BTOW3
BVMF3
CCPR3
CCRO3
CESP6
CGAS5 -20.5 -13.3 -7.5 -5.0 -8.6 -15.1 -70.4 30.3
CIEL3
CLSC6 -7.0 -4.6 -4.4 442.6 40.5 14.7 18.0 111.0
CMIG4 63.4 103.8 349.6 191.0 11.2 10.0 9.8 10.8
CPFE3
CPLE6 12.7 16.0 14.2 16.6 10.3 11.3 9.7 10.0
CRUZ3 4.3 6.2 5.3 6.1 6.7 6.2 5.6 5.3
CSAN3
CSNA3 4.7 8.5 21.1 15.1 14.3 13.8 8.2 2.7
CTIP3
CYRE3 6.4 5.6 5.5 4.4 4.3 4.4 3.8 4.7
DASA3
DTEX3
ECOD3
ELET3 6.1 6.2 5.7 36.6 -21.3 -23.9 -29.1 7.9
ELET6 6.6 6.6 5.8 39.9 -23.0 -25.8 -30.4 7.9
ELPL4 -4.8 -13.3 -28.4 12.1 12.1 10.7 11.6 15.8
ELPL6 -4.8 -13.3 -28.4 12.1 12.1 10.7 11.6 15.8
EMBR3 2.9 6.8 10.9 10.0 8.7 9.9 10.7 10.1
ENBR3
FIBR3 -72.5 -559.4 91.9 52.9 24.3 19.6 20.0 14.4
GFSA3
GGBR4 4.1 6.6 5.4 7.7 7.2 6.4 7.1 5.1
GOAU4 2.0 3.6 3.0 4.4 4.0 3.7 3.9 3.3
GOLL4
 HGTX3
HYPE3
ITSA4 3.0 3.0 2.9 6.1 6.4 6.3 6.0 6.4
ITUB4 5.6 5.5 5.5 9.5 12.0 11.5 3.6 11.9
JBSS3
KLBN4 -1.8 -3.5 -4.1 -9.6 19.7 17.7 12.7 81.1
LAME4 1.6 1.3 2.1 10.0 -16.0 -18.5 -9.5 -12.8
LIGT3
LLXL3
LREN3
MMXM3
MRFG3
MRVE3
NATU3
NETC4 -0.9 -2.6 -3.1 -14.1 -20.5 -18.0 -24.9 -16.0
OGXP3
OIBR3
OIBR4
PCAR4 41.7 136.8 288.3 94.1 33.1 24.0 25.7 23.0
PCAR5 41.7 136.8 288.3 94.1 33.1 24.0 25.7 23.0
PDGR3
PETR3 -78.4 -211.0 207.1 24.5 8.6 7.9 6.5 5.2
PETR4 -98.2 -302.3 264.2 28.2 9.2 8.1 6.2 4.9
PRTX3
RDCD3
RENT3
RSID3 -38.6 -24.5 100.7 6.7 2.5 2.9 2.7 5.4
SANB11
SBSP3 -12.3 -11.7 -11.1 -25.6 7.8 5.4 8.2 9.5
SUZB5
TAMM4 -3.0 -2.7 -2.3 -15.0 10.3 400.2
TCSL3 7.7 10.2 17.7 38.3 65.0 149.5 83.7 86.8
TCSL4 10.2 14.6 26.9 58.4 98.8 204.8 108.8 112.1
TIMP3
TLPP4 15.6 20.9 17.8 28.9 31.2 17.4 11.8 9.3
TMAR5
TNLP3 22.1 -91.6 -29.9 113.6 1882.0 65.0 29.1 16.6
TNLP4 40.9 -182.2 -42.5 169.5 2928.0 78.5 37.5 21.8
TRPL4 9.0 27.9 35.3 -805.4 96.9 18.7
UGPA3
UGPA4 12.6 8.3 7.7 8.6 7.6
USIM3 1.4 3.2 4.1 4.4 6.8 4.6 4.6 5.6
USIM5 1.8 4.8 6.2 7.1 8.4 7.6 8.1 8.6
VAGR3
VALE3 6.4 8.7 11.3 13.0 9.9 10.0 8.0 8.5
VALE5 8.9 12.1 15.1 15.5 11.8 11.3 8.8 8.7
VIVO4 13.1 15.6 44.5 94.8 155.7 124.7 81.3 61.9
VIVT4
Empresas Antigas
BRFS3 Perdigão PRGA3 25.8 34.5 42.4 36.5 21.8 24.5 28.3 34.4
FIBR3 Aracruz ARCZ6 -72.5 -559.4 91.9 52.9 24.3 19.6 20.0 14.4
FIBR3 Votorantim VCPA4 -72.5 -559.4 91.9 52.9 24.3 19.6 20.0 14.4
FIBR3 Votorantim VCPA3 -72.5 -559.4 91.9 52.9 24.3 19.6 20.0 14.4
DTEX3 Duratex DURA4 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0
BRTO4 Brasil Telecom BRTP4 10.5 18.0 72.9 -44.9 -524.9 89.8 31.0 19.6
BRFS3 Sadia SDIA4 25.8 34.5 42.4 36.5 21.8 24.5 28.3 34.4
PCAR5 Pão de Açucar PCAR4 41.7 136.8 288.3 94.1 33.1 24.0 25.7 23.0
BBAS3 Banco do Brasl BNCA3 3.8 4.8 2.8 7.1 12.5 7.0 14.9 4.4
ITUB4 Itaú ITAU4 5.6 5.5 5.5 9.5 12.0 11.5 3.6 11.9
BRTO3 Brasil Telecom BRTP3 5.8 11.2 62.8 -36.8 -517.9 74.1 21.3 18.8
ITUB4 Unibanco UBBR11 5.6 5.5 5.5 9.5 12.0 11.5 3.6 11.9
VIVO4 Telemig TMCP4 13.1 15.6 44.5 94.8 155.7 124.7 81.3 61.9
Arcelormittal ACES4 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0
Cemig CMIG3 39.2 64.0 219.4 115.6 8.0 7.5 7.6 9.0
Caemi CMET4
Belgo ARCE3
Embratel EBTP4 892.5 -117.3 21.6 37.7 23.5 21.3 18.6 17.1
BTOW3 Submarino SUBA3
UGPA4 Ipiranga PTIP4 -1.0 12.6 8.3 7.7 8.6 7.6
ELPL6 Eletropaulo ELPL4 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0
CESP6 Cesp CESP4 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0
Contax CTAX4
Contax CTAX3
EMBR3 Embraer EMBR4 2.9 6.8 10.9 10.0 8.7 9.9 10.7 10.1
TLPP4 Telesp TSPP4 15.6 20.9 17.8 28.9 31.2 17.4 11.8 9.3
VIVO4 Tele Centro Oeste TCOC4 13.1 15.6 44.5 94.8 155.7 124.7 81.3 61.9
VIVO4 Celular CRT CRTP5 13.1 15.6 44.5 94.8 155.7 124.7 81.3 61.9
LIGT3 Light LIGH3 265.9 -10.3 -5.1 -11.0 -20.2 -46.5 42.8 -11.6
VIVO4 Tele Leste Celular TLCP4 13.1 15.6 44.5 94.8 155.7 124.7 81.3 61.9
ACES4 Siderúrgica Tubarão CSTB4 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0
Tractabel TBLE3 -8.6 -5.4 -5.1 -13.6 11.0 13.2 9.4 10.9
NETC4 Net PLIM4 -0.9 -2.6 -3.1 -14.1 -20.5 -18.0 -24.9 -16.0
Embratel EBTP3 448.9 -62.9 12.6 24.5 16.3 16.6 14.8 13.0
TCSL4 Tim TNEP4 10.2 14.6 26.9 58.4 98.8 204.8 108.8 112.1
PETR4 Petrobrás PN BRDT4 -98.2 -302.3 264.2 28.2 9.2 8.1 6.2
Inepar INEP4 28.7 14.2 -16.7 -2.2 -1.2 -0.7 -0.8 -0.7
BBAS3 Banco Brasil BBAS4 3.8 4.8 2.8 7.1 12.5 7.0 14.9 4.4
BRKM5 Copene (Braskem) CPNE5 24.6 4.1 5.2 6.5 4.4 4.3 4.5 4.7
TLPP4 Telefônica TDBH4 15.6 20.9 17.8 28.9 31.2 17.4 11.8 9.3
BRTO4 Brasil Telecom TCSP4 10.5 18.0 72.9 -44.9 -524.9 89.8 31.0 19.6
BRTO4 Brasil Telecom TEPR4 10.5 18.0 72.9 -44.9 -524.9 89.8 31.0 19.6
BRTO3 Brasil Telecom TCSP3 5.8 11.2 62.8 -36.8 -517.9 74.1 21.3 18.8
TBLE3 Gerasul (Tractebel) GRSU3 -8.6 -5.4 -5.1 -13.6 11.0 13.2 9.4 10.9
TMAR5 Telemar TMAR6
KLBN4 Klabin KLAB4 -1.8 -3.5 -4.1 -9.6 19.7 17.7 12.7 81.1
BRTO4 Telerj (Oi) TERJ4 10.5 18.0 72.9 -44.9 -524.9 89.8 31.0 19.6
Banespa (Santander) BESP4 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0
GGBR4 Gerdau COGU4 4.1 6.6 5.4 7.7 7.2 6.4 7.1 5.1
BRTO4 Conc. Rio Terê CRGT5 10.5 18.0 72.9 -44.9 -524.9 89.8 31.0 19.6
AMBV4 Brahma BRHA4 -16.3 -10.2 -10.9 -9.3 238.1 39.4
Aes Tietê GETI4 6,745.0 -4.9 -5.7 -6.4 -6.4 20.1
BRKM5 Copesul (Braskem) CPSL3 24.6 4.1 5.2 6.5 4.4 4.3 4.5 4.7
TELB4 Tele BR RCTB PN (TelebrRCTB41 -0.3 -0.1 0.6 1.2 2.1 -3.3 -4.5 12.2
TELB3 Tele BR RCTB ON (TelebRCTB31 -0.4 -0.1 0.7 1.2 2.1 -4.4 -4.5 8.1
TLPP4 Telesp TLSP4 15.6 20.9 17.8 28.9 31.2 17.4 11.8 9.3
TLPP4 Telesp TSPC6 15.6 20.9 17.8 28.9 31.2 17.4 11.8 9.3
UGPA4 Ultrapar GEPA4 -1.0 -1.0 -1.0 12.6 8.3 7.7 8.6 7.6
WHRL3 Whirpool WHMT3 -58.4 -24.7 -23.5 -32.9 -1.0 -1.0 10.5 -1.0
TLPP3 Telesp TLSP3 9.8 11.5 12.0 16.5 18.5 10.1 8.1 6.3
TLPP3 Telesp TLPP3 9.8 11.5 12.0 16.5 18.5 10.1 8.1 6.3
CPFE3 CPFL PALF3 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0
FIBR3 Cimento Votorantim PSIM4 -72.5 -559.4 91.9 52.9 24.3 19.6 20.0 14.4
Brasmotor BMTO4 -30.6 -21.9 -21.2 -26.0 19.5 12.6 11.8 6.9
rimestrais
2001 1T 2001 2T 2001 3T 2001 4T 2002 1T 2002 2T 2002 3T 2002 4T 2003 1T 2003 2T 2003 3T 2003 4T
2001 2002 2003
1T 2T 3T 4T 1T 2T 3T 4T 1T 2T 3T 4T

25.4 21.0 19.6 24.6 24.2 17.4 13.1 14.1 12.3 14.6 17.7 20.6
5.0 7.7 5.5 7.0 6.4 4.0 3.4 3.6 3.6 4.3 5.1 7.5
11.1 9.6 7.6 8.3 9.3 7.9 5.9 7.9 8.4 7.9 8.0 10.5

87.7 19.3 8.9 -9.9 -8.6 -1.1 -0.8 -3.9 -3.8 4.3 2.1 -16.7
33.4 15.6 10.8 9.3 9.4 12.8 20.9 88.1 -96.0 67.1 20.9 20.1
9.0 16.6 8.8 -33.8 -12.8 -1.8 -0.4 -0.8 -1.0 -10.6 1.7 21.9

13.2 19.1 17.1 19.9 17.8 11.9 11.6 13.8 11.4 14.1 14.8 -343.5
14.5 23.0 20.9 25.0 23.4 14.2 12.9 14.4 11.4 14.8 15.2 -327.3

3.3 3.5 1.6 1.7 -6.6 28.3 6.0 12.0

48.0 58.5 30.4 17.1 15.1 9.9 9.6 5.9 5.2 8.7 9.7 20.7

25.1 25.1 -39.9 -4.0 -8.0 -11.1 -8.8 -1.4 -1.1 -1.2 -1.9 3.7
13.6 20.6 -39.4 11.0 7.7 -12.0 -7.0 -4.3 -3.8 10.0 5.8 7.1

13.4 14.5 18.3 9.7 8.0 6.4 5.8 -8.6 -4.7 -15.9 -254.0 21.7
6.4 6.1 5.1 6.8 7.0 6.1 5.4 5.7 5.9 7.8 9.5 12.0

2.5 2.3 1.1 8.8 10.3 46.5 -3.1 -16.8 12.1 6.9 6.8 10.6

5.4 5.1 6.5 5.9 6.1 7.7 5.6 4.2 4.8 7.0 5.3 7.2

6.6 4.4 3.9 5.5 8.6 7.7 2.1 11.5 17.1 -8.0 -3.5 80.7
6.4 4.1 3.5 5.2 7.6 7.1 2.1 11.5 18.9 -8.9 -3.9 75.2
43.3 33.3 143.3 5.8 4.5 4.0 19.9 -1.2 -1.1 -1.7 -7.5 35.3
43.3 33.3 143.3 5.8 4.5 4.0 19.9 -1.2 -1.1 -1.7 -7.5 35.3
10.9 11.0 4.2 7.0 7.4 10.9 9.9 7.6 4.8 7.1 8.4 21.4

14.1 18.0 18.6 22.0 24.3 35.3 57.0 40.1 27.5 16.1 17.8 21.4

5.7 5.0 3.4 5.2 6.6 6.2 4.1 4.9 3.8 5.2 7.1 8.0
3.4 2.8 2.2 2.8 3.4 3.1 2.3 2.8 2.2 2.8 4.0 4.8
 4.4 4.8 3.7 4.8 6.3 5.0 3.9 4.0 3.7 4.3 5.2 10.5
9.4 9.5 -22.6 7.0 7.8 7.3 6.0 8.8 7.5 7.6 7.8 16.4

-8.9 -8.7 -3.1 11.5 6.1 -11.1 -2.2 -4.5 -11.0 2.4 2.1 3.5
-23.3 -6.4 -125.1 5.1 6.4 5.0 4.8 6.2 7.1 7.7 11.9 17.3

-354.5 0.8 1.3

-7.4 -4.7 -2.3 -3.3 -2.4 -0.7 -0.6 -0.8 -0.5 -0.8 -2.7 -6.9

20.9 19.9 14.2 22.3 23.0 21.6 20.6 25.2 21.0 21.0 24.0 35.4
20.9 19.9 14.2 22.3 23.0 21.6 20.6 25.2 21.0 21.0 24.0 35.4

5.4 5.6 5.1 5.5 7.6 6.8 4.5 5.8 3.9 4.2 4.3 5.3
4.9 5.1 4.9 5.4 7.2 6.3 4.1 5.1 3.6 3.8 4.0 4.8

21.9 63.5 -7.5 -5.8 -3.9 -1.3 -4.1 8.2 6.1 7.8 39.7 -27.7

19.8 74.2 -14.7 17.4 10.4 48.0 -6.1 -4.0 -3.9 40.7 4.7 5.6

-2.4 -0.8 1.3

55.4 36.3 15.8 17.1 14.1 15.7 10.3 10.2 11.5 8.7 8.3 8.9
72.2 43.0 18.3 20.3 16.2 18.8 13.1 14.3 10.5 9.9 10.3 12.2

8.9 8.2 7.1 9.9 11.1 11.9 10.1 15.8 14.1 14.1 14.0 14.1
-228.2 298.9 49.8 -389.9 33.1 16.1 12.3 13.9 17.5 18.6
14.6 14.3 26.7 82.2 97.9 -62.3 -22.7 -20.6 -11.8 -38.5 121.8 20.4
16.2 16.5 29.5 98.3 110.9 -75.1 -30.5 -28.1 -16.3 -52.9 159.6 26.3
17.5 8.5 5.4 13.7 12.6 8.7 5.3 5.0 4.9 5.1 6.6 9.3

8.7 7.8 5.9 7.5 8.5 7.8 7.9 7.8 6.3 6.9 7.3 10.5
7.9 9.2 10.0 4.9 6.4 -51.2 -1.6 -4.5 109.0 2.8 2.1 4.2
10.2 9.4 10.7 6.1 6.5 -56.2 -1.4 -4.6 140.6 3.8 2.8 5.8

8.9 9.2 6.7 6.6 8.2 11.8 29.5 19.6 13.7 8.7 8.5 14.6
9.6 9.1 7.0 6.8 7.8 11.1 28.2 18.6 13.2 8.1 7.6 12.7
346.2 -42.1 -5.3 -3.5 -2.4 -1.5 -2.9 -4.4 -4.2 -4.9 -6.0 -13.9
33.4 15.6 10.8 9.3 9.4 12.8 20.9 88.1 -96.0 67.1 20.9 20.1
14.1 18.0 18.6 22.0 24.3 35.3 57.0 40.1 27.5 16.1 17.8 21.4
14.1 18.0 18.6 22.0 24.3 35.3 57.0 40.1 27.5 16.1 17.8 21.4
14.1 18.0 18.6 22.0 24.3 35.3 57.0 40.1 27.5 16.1 17.8 21.4

14.5 23.0 20.9 25.0 23.4 14.2 12.9 14.4 11.4 14.8 15.2 -327.3
33.4 15.6 10.8 9.3 9.4 12.8 20.9 88.1 -96.0 67.1 20.9 20.1
20.9 19.9 14.2 22.3 23.0 21.6 20.6 25.2 21.0 21.0 24.0 35.4
5.0 7.7 5.5 7.0 6.4 4.0 3.4 3.6 3.6 4.3 5.1 7.5
9.4 9.5 -22.6 7.0 7.8 7.3 6.0 8.8 7.5 7.6 7.8 16.4
13.2 19.1 17.1 19.9 17.8 11.9 11.6 13.8 11.4 14.1 14.8 -343.5
9.4 9.5 -22.6 7.0 7.8 7.3 6.0 8.8 7.5 7.6 7.8 16.4
346.2 -42.1 -5.3 -3.5 -2.4 -1.5 -2.9 -4.4 -4.2 -4.9 -6.0 -13.9
-1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0
12.9 19.9 -38.0 10.5 7.2 -11.2 -6.6 -3.8 -2.9 8.0 4.4 5.0

16.8 24.5 -25.2 -6.1 -4.7 -0.7 -0.8 -2.0 -1.9 -6.4 9.4 14.6

8.7 7.8 5.9 7.5 8.5 7.8 7.9 7.8 6.3 6.9 7.3 10.5
-1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0
-1.0 -1.0 -529.9 3.1 2.8 -1.1 -0.2 -0.2 -0.2 -0.9 0.7 2.5

10.9 11.0 4.2 7.0 7.4 10.9 9.9 7.6 4.8 7.1 8.4 21.4
8.9 8.2 7.1 9.9 11.1 11.9 10.1 15.8 14.1 14.1 14.0 14.1
346.2 -42.1 -5.3 -3.5 -2.4 -1.5 -2.9 -4.4 -4.2 -4.9 -6.0 -13.9
346.2 -42.1 -5.3 -3.5 -2.4 -1.5 -2.9 -4.4 -4.2 -4.9 -6.0 -13.9
-6.1 -2.9 -1.2 -1.8 -2.0 -5.8 -1.5 -1.4 -0.7 -0.7 -1.2 -6.2
346.2 -42.1 -5.3 -3.5 -2.4 -1.5 -2.9 -4.4 -4.2 -4.9 -6.0 -13.9
-1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0
15.2 18.4 43.7 4.5 4.8 5.4 10.9 -12.4 -19.5 31.5 8.3 10.1
-7.4 -4.7 -2.3 -3.3 -2.4 -0.7 -0.6 -0.8 -0.5 -0.8 -2.7 -6.9
15.6 25.0 -26.2 -6.7 -5.6 -1.3 -1.0 -2.2 -2.3 -7.0 8.9 21.0
72.2 43.0 18.3 20.3 16.2 18.8 13.1 14.3 10.5 9.9 10.3 12.2
4.9 4.9 5.1 4.9 5.4 7.2 6.3 4.1 5.1 3.6 3.8 4.0
-0.7 -0.8 -0.5 -0.7 -0.5 -0.1 -0.1 -0.1 -0.1 -0.1 -0.2 -0.3
5.0 7.7 5.5 7.0 6.4 4.0 3.4 3.6 3.6 4.3 5.1 7.5
9.0 16.6 8.8 -33.8 -12.8 -1.8 -0.4 -0.8 -1.0 -10.6 1.7 21.9
8.9 8.2 7.1 9.9 11.1 11.9 10.1 15.8 14.1 14.1 14.0 14.1
14.5 23.0 20.9 25.0 23.4 14.2 12.9 14.4 11.4 14.8 15.2 -327.3
14.5 23.0 20.9 25.0 23.4 14.2 12.9 14.4 11.4 14.8 15.2 -327.3
13.2 19.1 17.1 19.9 17.8 11.9 11.6 13.8 11.4 14.1 14.8 -343.5
15.2 18.4 43.7 4.5 4.8 5.4 10.9 -12.4 -19.5 31.5 8.3 10.1
-228.2
-8.9 -8.7 -3.1 11.5 6.1 -11.1 -2.2 -4.5 -11.0 2.4 2.1 3.5
14.5 23.0 20.9 25.0 23.4 14.2 12.9 14.4 11.4 14.8 15.2 -327.3
-1.0
5.7 5.0 3.4 5.2 6.6 6.2 4.1 4.9 3.8 5.2 7.1 8.0
14.5 23.0 20.9 25.0 23.4 14.2 12.9 14.4 11.4 14.8 15.2 -327.3
25.4 21.0 19.6 24.6 24.2 17.4 13.1 14.1 12.3 14.6 17.7 20.6
20.9 57.8 -12.6 42.4 37.0 10.3 5.1 -427.3 -29.8 -33.3 28.7 6.2
9.0 16.6 8.8 -33.8 -12.8 -1.8 -0.4 -0.8 -1.0 -10.6 1.7 21.9
6.6 0.4 0.4 0.8 0.5 -14.8 2.1 1.0 1.5 1.3 1.7 2.1
6.6 0.4 0.4 0.5 0.5 -4.9 2.1 1.9 1.5 1.3 1.7 2.1
8.9 8.2 7.1 9.9 11.1 11.9 10.1 15.8 14.1 14.1 14.0 14.1
8.9 8.2 7.1 9.9 11.1 11.9 10.1 15.8 14.1 14.1 14.0 14.1
8.7 7.8 5.9 7.5 8.5 7.8 7.9 7.8 6.3 6.9 7.3 10.5
-1.0 -1.0 -1.0 74.2 -30.4 -18.5 -1.0 -1.0 4.9 -1.0 -214.7 20.6
6.9 6.9 6.3 7.9 8.8 8.6 7.0 10.4 10.9 10.1 12.2 11.3
6.9 6.9 6.3 7.9 8.8 8.6 7.0 10.4 10.9 10.1 12.2 11.3
-1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0
14.1 18.0 18.6 22.0 24.3 35.3 57.0 40.1 27.5 16.1 17.8 21.4
10.9 8.2 5.0 189.7 -36.7 -20.3 27.5 6.4 3.4 5.0 121.0 15.3
2004 1T 2004 2T 2004 3T 2004 4T 2005 1T 2005 2T 2005 3T 2005 4T 2006 1T 2006 2T 2006 3T 2006 4T
2004 2005 2006
1T 2T 3T 4T 1T 2T 3T 4T 1T 2T 3T 4T

20.6 20.9 29.7 26.2 34.6 39.1 59.7 170.4

20.6 20.9 29.7 26.2 34.6 39.1 59.7 170.4
19.0 17.7 33.2 36.6 44.4 45.3 42.0 38.3 29.8 26.5 27.9 24.2
6.9 6.1 6.5 8.7 7.1 7.2 8.4 8.2 8.1 6.8 7.1 8.7
9.2 8.9 8.8 10.0 10.4 9.2 10.5 12.0 13.0 11.0 14.7 17.1

-112.9 12.9 69.9 22.0 14.0 7.4 9.6 8.1 10.1 8.8 8.5 11.6
14.8 10.8 16.9 21.0 19.4 21.4 24.4 22.9 23.8 35.6 61.6 102.0
64.3 -8.0 767.5 17.5 11.0 4.4 7.2 10.0 9.8 41.0 710.8 71.5

-217.4 -104.6 -140.7 27.4 47.1 48.4 -853.1 -32.0 -35.0 -58.2 -118.4 36.1
-221.0 -107.0 -131.2 26.1 38.0 31.3 -463.5 -18.4 -18.8 -22.3 -49.7 14.2
690.3

10.3 21.5 16.6 22.3 19.2 15.5 14.4 14.9 14.9 13.5 18.1 21.3
-14.8 -69.2
17.0 11.8 12.0 13.1 12.7 9.6 10.8 9.5 10.0 8.5 8.7 9.9

3.8 3.1 3.6 4.3 4.1 3.7 5.4 5.4 5.6 4.7 5.0 6.2
6.1 6.1 7.4 7.6 6.1 6.5 7.1 7.7 9.0 9.2 8.5 9.9
32.6 29.1 17.9 15.2 13.6 14.2 13.4 11.0 9.8 10.3
10.8 35.4 13.4 8.5 9.4 9.2 12.4 9.8 10.0 5.3 6.0 5.5
12.5 11.1 12.4 14.9 12.8 13.9 13.6 12.8 15.7 13.6 13.2 14.1
-89.6 -155.7 -166.2 78.7 40.1
14.3 8.0 6.8 6.8 7.1 4.6 6.7 7.3 13.0 12.7 11.7 15.0

8.1 7.9 11.2 7.8 10.8 10.9 24.8 41.6 37.1 29.9 35.6 29.8

-39.1
19.9 4.0 9.7 16.0 13.4 -22.7 -56.1 22.0 107.0 19.9 12.6 24.8
20.4 4.0 9.0 16.3 12.9 -20.9 -53.9 22.9 105.3 19.0 11.8 23.3
53.2 -56.6 -55.8 549.4 1163.0 29.0 -22.8 -22.7 -30.4 -48.6 12.3 12.2
53.2 -56.6 -55.8 549.4 1163.0 29.0 -22.8 -22.7 -30.4 -48.6 12.3 12.2
18.9 11.4 7.5 8.9 8.9 9.8 15.7 18.2 25.5 26.4 25.4 27.7

25.1 25.7 24.9 29.1 24.8 20.5 24.8 27.1 33.9 34.2 34.0 33.9
421.1 113.2 83.3 77.3
7.8 6.1 5.2 5.0 4.2 3.2 5.4 6.3 7.8 7.7 6.9 8.1
5.5 4.3 3.9 3.9 3.2 2.4 3.8 4.7 5.6 5.7 5.1 6.1
90.3 38.0 31.0 17.7 19.1 18.3 30.7 24.1 28.7 22.9 18.2
10.7 10.2 8.8 6.0 5.9 5.8 7.5 10.2 11.2 8.9 5.8 6.1
17.4 15.5 13.8 9.5 9.6 9.0 10.6 12.0 12.0 11.3 12.0 13.9

3.6 27.4 10.3 10.9 8.7 8.4 11.3 12.3 12.8 13.2 10.9 10.4
16.5 18.6 30.8 43.0 43.5 18.3 20.2 27.8 37.2 72.0 53.5 73.0
19.7 50.2 -7.3 -15.7

1.5 12.1 2.4 2.9 2.8 4.3 18.5 22.7 31.4 34.7 29.3 37.8
-30.1 -38.0

24.7 21.4 22.0 19.1 19.2 21.3 22.1 26.8 21.5 23.6 27.5
-6.2 -3.4 -4.4 -27.3 76.8 19.5 36.8 33.7 31.5 33.8 28.4 86.6

32.4 27.8 19.7 21.1 16.0 13.1 23.8 34.0 39.6 32.3 52.2 99.7
32.4 27.8 19.7 21.1 16.0 13.1 23.8 34.0 39.6 32.3 52.2 99.7

6.6 5.5 6.7 6.6 6.8 7.0 9.0 7.7 8.1 7.7 6.9 9.2
5.8 4.9 6.0 6.0 6.0 6.1 8.0 7.0 7.5 6.8 6.2 8.4

-54.2 56.9 15.0 11.4 9.6 10.5 15.7 50.8 -176.1 1,048 K 85.4 49.3

5.2 10.3 6.6 8.7 6.8 4.2 4.9 5.2 5.2 6.5 8.4 10.7

0.8 1.1 5.9 7.0 16.5 18.1 34.1 25.1 24.3 21.3 18.0
10.0 9.6 9.5 9.5 7.9 9.1 12.5 12.4 98.2 -149.4 -102.2 -102.6
12.2 12.0 11.6 9.9 8.2 8.0 9.9 11.9 92.0 -110.5 -65.1 -60.7

13.6 10.9 11.6 11.5 11.2 9.8 8.4 9.3 10.0 8.5 8.8 9.9
17.3 13.9 10.1 17.8 15.5 10.6 9.5 8.9 7.9 6.3 7.0 7.3
13.2 17.4 14.8 26.2 29.7 26.9 21.3 19.8 18.7 21.3 25.0 17.5
14.6 20.4 15.7 25.0 24.1 19.4 15.5 15.5 14.1 10.1 11.1 10.0
7.0 6.8 6.5 6.2 6.9 7.8 8.4 8.4 7.9 7.3 6.9 38.2

9.7 7.4 8.8 8.6 7.6 7.8 8.4 8.8 11.8 10.7 11.1 13.8
4.8 4.3 3.7 3.7 3.1 2.2 2.8 3.0 5.9 6.1 5.4 8.6
6.8 5.3 4.4 4.0 3.5 2.2 3.1 3.2 5.6 5.6 4.8 7.2

14.4 12.1 13.1 13.6 13.9 9.1 12.4 10.7 11.8 11.2 9.1 11.7
12.3 10.1 11.2 11.6 11.8 7.8 10.9 9.3 10.4 9.5 7.8 9.9
-22.4 -32.6 -18.8 -17.2 -18.3 -8.2 -7.1 -6.6 -14.0 -6.6 -8.6 178.1
14.8 10.8 16.9 21.0 19.4 21.4 24.4 22.9 23.8 35.6 61.6 102.0
25.1 25.7 24.9 29.1 24.8 20.5 24.8 27.1 33.9 34.2 34.0 33.9
25.1 25.7 24.9 29.1 24.8 20.5 24.8 27.1 33.9 34.2 34.0 33.9
25.1 25.7 24.9 29.1 24.8 20.5 24.8 27.1 33.9 34.2 34.0 33.9

-221.0 -107.0 -131.2 26.1 38.0 31.3 -463.5 -18.4 -18.8 -22.3 -49.7 14.2
14.8 10.8 16.9 21.0 19.4 21.4 24.4 22.9 23.8 35.6 61.6 102.0
32.4 27.8 19.7 21.1 16.0 13.1 23.8 34.0 39.6 32.3 52.2 99.7
6.9 6.1 6.5 8.7 7.1 7.2 8.4 8.2 8.1 6.8 7.1 8.7
17.4 15.5 13.8 9.5 9.6 9.0 10.6 12.0 12.0 11.3 12.0 13.9
-217.4 -104.6 -140.7 27.4 47.1 48.4 -853.1 -32.0 -35.0 -58.2 -118.4 36.1
17.4 15.5 13.8 9.5 9.6 9.0 10.6 12.0 12.0 11.3 12.0 13.9
-22.4 -32.6 -18.8 -17.2 -18.3 -8.2 -7.1 -6.6 -14.0 -6.6 -8.6 178.1
-1.0 -1.0 -1.0 3.7 3.4 2.4 2.8 3.2 4.3 5.6 6.1 6.0
4.2 4.5 6.0 6.7 5.2 5.2 5.6 6.5 7.2 8.1 7.4 8.6
42.9 61.7 62.1 10.0 14.7 7.6 7.9
7.8 32.5 32.3 13.0 12.0
13.0 108.1 -39.5 -5.6 -4.9 -26.1 -182.3 38.5 18.3 22.2 -83.5 65.9
690.3
9.7 7.4 8.8 8.6 7.6 7.8 8.4 8.8 11.8 10.7 11.1 13.8
-1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 12.3 12.2
6.0 -1.1 -3.9 40.8 -74.3 1.9 3.0 -7.2 59.5 -4.9 -14.8 -69.2
11.4 18.0 16.8 15.2 16.6 15.6
7.9 13.3 12.6 9.1 9.5 9.6
18.9 11.4 7.5 8.9 8.9 9.8 15.7 18.2 25.5 26.4 25.4 27.7
13.6 10.9 11.6 11.5 11.2 9.8 8.4 9.3 10.0 8.5 8.8 9.9
-22.4 -32.6 -18.8 -17.2 -18.3 -8.2 -7.1 -6.6 -14.0 -6.6 -8.6 178.1
-22.4 -32.6 -18.8 -17.2 -18.3 -8.2 -7.1 -6.6 -14.0 -6.6 -8.6 178.1
-6.8 -11.5 25.0 -24.3 -20.5 -28.6 -60.6 8.4 7.4
-22.4 -32.6 -18.8 -17.2 -18.3 -8.2 -7.1 -6.6 -14.0 -6.6 -8.6 178.1
-1.0 -1.0 -1.0 3.7 3.4 2.4 2.8 3.2 4.3 5.6 6.1 6.0
11.3 12.4 8.8 8.3 9.5 8.3 9.2 10.7 11.0 10.6 11.4 12.0
-6.2 -3.4 -4.4 -27.3 76.8 19.5 36.8 33.7 31.5 33.8 28.4 86.6
19.3 177.7 -91.3 -9.3 -6.7 -22.9 -154.6 32.3 17.6 22.0 -83.2 65.9
12.2 12.0 11.6 9.9 8.2 8.0 9.9 11.9 92.0 -110.5 -65.1 -60.7
4.8 5.8 4.9 6.0 6.0 6.0 6.1 8.0 7.0 7.5 6.8 6.2
1.5 0.7 0.7 2.8 -1.7 -0.9 -0.7 -9.8 2.1 2.7 17.3 8.1
6.9 6.1 6.5 8.7 7.1 7.2 8.4 8.2 8.1 6.8 7.1 8.7
64.3 -8.0 767.5 17.5 11.0 4.4 7.2 10.0 9.8 41.0 710.8 71.5
13.6 10.9 11.6 11.5 11.2 9.8 8.4 9.3 10.0 8.5 8.8 9.9
-221.0 -107.0 -131.2 26.1 38.0 31.3 -463.5 -18.4 -18.8 -22.3 -49.7 14.2
-221.0 -107.0 -131.2 26.1 38.0 31.3 -463.5 -18.4 -18.8 -22.3 -49.7 14.2
-217.4 -104.6 -140.7 27.4 47.1 48.4 -853.1 -32.0 -35.0 -58.2 -118.4 36.1
11.3 12.4 8.8 8.3 9.5 8.3 9.2 10.7 11.0 10.6 11.4 12.0

3.6 27.4 10.3 10.9 8.7 8.4 11.3 12.3 12.8 13.2 10.9 10.4
-221.0 -107.0 -131.2 26.1 38.0 31.3 -463.5 -18.4 -18.8 -22.3 -49.7 14.2

7.8 6.1 5.2 5.0 4.2 3.2 5.4 6.3 7.8 7.7 6.9 8.1
-221.0 -107.0 -131.2 26.1 38.0 31.3 -463.5 -18.4 -18.8 -22.3 -49.7 14.2
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8.5 7.4 10.3 11.2 12.5 11.1 8.9 8.7 9.3 7.6 9.2 9.7
64.3 -8.0 767.5 17.5 11.0 4.4 7.2 10.0 9.8 41.0 710.8 71.5
1.6 2.4 20.5 15.5 5.6 3.5 2.9 4.1 5.5 -0.5 -0.3 -0.2
1.6 2.4 24.0 15.5 6.6 3.5 3.4 4.7 4.4 -0.2 -0.2 -0.1
13.6 10.9 11.6 11.5 11.2 9.8 8.4 9.3 10.0 8.5 8.8 9.9
13.6 10.9 11.6 11.5 11.2 9.8 8.4 9.3 10.0 8.5 8.8 9.9
9.7 7.4 8.8 8.6 7.6 7.8 8.4 8.8 11.8 10.7 11.1 13.8
-1.0 -1.0 -1.0 81.4 -66.6 -20.1 -181.0 11.7 15.3 6.9 6.0 8.8
11.5 9.7 9.4 10.5 8.9 7.4 6.3 7.3 7.9 7.2 7.5 8.5
11.5 9.7 9.4 10.5 8.9 7.4 6.3 7.3 7.9 7.2 7.5 8.5
-1.0 -1.0 32.6 29.1 17.9 15.2 13.6 14.2 13.4 11.0 9.8 10.3
25.1 25.7 24.9 29.1 24.8 20.5 24.8 27.1 33.9 34.2 34.0 33.9
15.0 8.5 20.8 31.3 85.0 -92.1 29.5 7.5 9.1 5.0 3.7 5.7
2007 1T 2007 2T 2007 3T 2007 4T 2008 1T 2008 2T 2008 3T 2008 4T 2009 1T 2009 2T 2009 3T 2009 4T
2007 2008 2009
1T 2T 3T 4T 1T 2T 3T 4T 1T 2T 3T 4T
-12.0 -8.3 -0.3
353.4 905.0 80.9 61.7 40.3 38.7 32.2 27.3 34.2 57.6 85.8 322.5
353.4 905.0 80.9 61.7 40.3 38.7 32.2 27.3 34.2 57.6 85.8 322.5
26.2 30.7 29.4 28.5 28.3 21.7 20.0 20.4 17.4 16.5 17.4 18.0
10.8 14.9 15.0 14.9 9.8 10.1 8.2 4.3 5.3 6.2 9.0 7.5
16.1 15.8 14.4 14.4 11.9 12.5 11.6 9.1 9.8 11.8 14.6 14.1

11.8 12.9 17.4 15.3 17.7 17.5 7.0 6.0 6.9 6.7 13.9 14.0
63.6 53.2 45.7 59.3 56.2 60.4 83.2 167.5 -58.4 -100.9 265.8 160.9
84.1 16.3 13.1 11.9 12.5 10.7 -15.1 -1.1 -0.9 -2.1 -18.9 18.4

25.4 27.3 21.9 21.9 24.8 25.6 24.8 30.2 52.9 -27.5 -15.8 -16.2
9.4 11.3 11.5 12.8 12.0 9.2 8.4 7.4 11.5 -6.5 -8.8 -9.9
325.9 257.8 195.1 129.3 103.7 95.4 63.8 34.9 34.7 60.7 107.4 106.7
32.8 19.1 16.5 32.9 34.4 28.4
82.1 54.9 31.8 25.9 22.8 15.8 17.6 17.9 18.9 17.0
19.1 23.0 21.9 19.0 17.3 20.6 15.3 13.3 12.0 17.0 17.2 25.0
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11.8 12.7 12.1 10.6 11.2 11.4 9.6 7.7 7.3 9.4 10.8 5.9
18.5 17.9 13.6
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4.8 8.9 7.3 6.6 7.3 7.5 6.0 6.1 6.0 7.3 8.4 12.8
13.4 13.3 14.2 16.2 15.6 17.1 14.1 11.1 9.7 10.5 12.2 11.9
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51.4 28.6 18.6 17.3 8.9 5.5 7.1 22.8 273.4 41.4
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6.8 9.8 9.8 12.5 12.4 15.1 8.6 6.7 7.5 41.3 44.5 38.5
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7.7 8.9 8.1 5.8 7.5 7.1 6.9 11.5 20.3 52.9 265.6 3.4
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13.3 15.1 14.7 14.1 12.2 12.3 13.0 5.4 5.2 6.3 8.1
52.3 24.0 16.4 -171.9 512.0 199.0 57.2 26.0 26.4 21.0 20.5
7.0 5.6 6.4 8.5 8.8
9.1 10.3 9.3 9.5 7.4 8.6 8.2 6.6 7.4 7.9 8.1

12.4
54.2 14.7 7.5 8.1 6.8 23.7 15.6 13.7 16.8 11.3 10.3
325.9 257.8 195.1 129.3 103.7 95.4 63.8 34.9 34.7 60.7 107.4
18.9 24.7 39.2 47.1 35.8 27.8 17.5 17.7 19.3 22.2 24.4
7.8 8.1 6.4 8.5 8.3 11.3 8.8 4.2 5.3 5.9 5.7
-54.5 462.0 112.5 79.6 45.6 41.7 58.4 -2.1 -1.9 -3.9 -5.6
15.0 19.1 21.9 20.3 16.1 11.1 7.9 6.9 7.9 8.6 13.1
9.7 14.4 16.5 15.0 10.3 9.6 7.1 7.1 7.8 8.6 12.0
31.1 37.4 23.8 25.2 21.0 11.0 28.5 15.9 14.8 8.8 7.8
9.1 11.6 12.4 9.7 10.0 9.9 9.6 9.6 10.1 9.6 9.7
52.3 24.0 16.4 -171.9 512.0 199.0 57.2 26.0 26.4 21.0 20.5
52.3 24.0 16.4 -171.9 512.0 199.0 57.2 26.0 26.4 21.0 20.5

52.3 24.0 16.4 -171.9 512.0 199.0 57.2 26.0 26.4 21.0 20.5
7.0 5.6 6.4 8.5 8.8
13.4 15.3 15.8 13.3 12.3 13.2 11.8 10.9 11.7 12.4 12.9
82.5 132.1 93.9 41.7 35.0 33.4 60.2 -47.4 -128.2 115.5 19.3
53.7 16.0 7.5 8.0 6.6 19.1 15.5 13.8 16.8 11.0 10.1
-93.9 133.6 -674.0 186.5 -1,072.0 -132.9 131.2 38.4 47.0 50.2 53.2
8.4 8.6 9.7 11.8 17.6 13.3 15.6 9.7 5.5 7.0 8.0
-5.3 11.1 5.4 13.5 14.5 -8.7 4.3 1.3 0.9 1.3 2.7
10.8 14.9 15.0 14.9 9.8 10.1 8.2 4.3 5.3 6.2 9.0
84.1 16.3 13.1 11.9 12.5 10.7 -15.1 -1.1 -0.9 -2.1 -18.9
9.1 11.6 12.4 9.7 10.0 9.9 9.6 9.6 10.1 9.6 9.7
9.4 11.3 11.5 12.8 12.0 9.2 8.4 7.4 11.5 -6.5 -8.8
 9.4 11.3 11.5 12.8 12.0 9.2 8.4 7.4 11.5 -6.5 -8.8
25.4 27.3 21.9 21.9 24.8 25.6 24.8 30.2 52.9 -27.5 -15.8
13.4 15.3 15.8 13.3 12.3 13.2 11.8 10.9 11.7 12.4 12.9

11.0 10.7 9.7 9.8 10.0 11.0 51.3 -8.7 -6.6 -10.3 22.6
9.4 11.3 11.5 12.8 12.0 9.2 8.4 7.4 11.5 -6.5 -8.8

8.7 12.0 12.4 15.2 14.9 17.2 9.2 7.5 8.6 45.5 59.9
9.4 11.3 11.5 12.8 12.0 9.2 8.4 7.4 11.5 -6.5 -8.8
26.2 30.7 29.4 28.5 28.3 21.7 20.0 20.4 17.4 16.5 17.4
10.0 11.7 10.0 10.4 9.0 10.5 8.9 8.2 9.1 9.7 9.1
84.1 16.3 13.1 11.9 12.5 10.7 -15.1 -1.1 -0.9 -2.1 -18.9
-0.2 -0.7 -0.5 -18.6 -11.7 -4.1 -2.6 -7.0 -13.9 -19.0 -34.2
-0.1 -0.4 -0.3 -18.9 -11.7 -4.0 -2.5 -6.8 -9.9 -14.1 -19.8
9.1 11.6 12.4 9.7 10.0 9.9 9.6 9.6 10.1 9.6 9.7
9.1 11.6 12.4 9.7 10.0 9.9 9.6 9.6 10.1 9.6 9.7
18.9 24.7 39.2 47.1 35.8 27.8 17.5 17.7 19.3 22.2 24.4
8.0 15.1 18.3 11.9 8.5 9.0 5.9 6.8 6.3 10.4 13.2
8.3 10.8 11.8 10.0 8.8 8.9 8.3 7.7 8.0 9.1 8.6
8.3 10.8 11.8 10.0 8.8 8.9 8.3 7.7 8.0 9.1 8.6
8.9 11.4 10.6 9.8 11.7 12.4 13.0 11.3 11.8 12.3 12.8
29.0 32.2 33.5 33.3 33.3 31.9 -110.8 -7.1 -3.9 -10.4 -46.3
5.2 13.7 18.0 11.7 9.7 10.2 4.8 4.1 6.1 8.6 11.3
2010 1T 2010 2T 2010 3T 2010 4T 2011 1T 2011 2T 2011 3T 2011 4T 2012 1T 2012 2T 2012 3T 2012 4T
2010 2011 2012
1T 2T 3T 4T 1T 2T 3T 4T 1T 2T 3T 4T

149.6 64.6 72.4 43.1

149.6 64.6 72.4 43.1 45.0 38.3 24.6 26.1 25.7 27.7 25.6 24.1
16.5 17.7 18.9 20.7 17.6 19.2 21.6 24.3 26.5 26.8 24.7 25.5
7.0 5.6 7.7 7.6 6.9 6.2 5.4 5.5 6.3 4.8 6.2 6.0
13.4 11.3 13.8 12.3 12.0 11.0 9.4 10.7 11.0 10.3 11.1 11.8
14.6 11.7 12.5 10.4 10.0 11.1 7.5 13.6 26.0 -4.1 -4.0 -5.1
15.7 12.0 10.2 8.6 6.7 6.2 5.6 5.5 6.8 7.5 7.6 24.1
50.2 48.6 55.8 29.7 23.9 15.9 17.5 23.2 27.6 41.1 82.2 45.3
25.7 -11.8 -14.7 8.6 8.0 11.0 356.8 -20.7 -17.8 -5.1 -9.6 -14.0
13.5 14.5 18.3 17.3 20.4 11.9 13.2 7.0
-14.8 9.3 7.7 4.7 6.3 6.0 4.7 7.0 5.4 18.0 20.7 19.7
-10.7 7.1 5.7 3.7 5.2 5.3 4.2 6.5 4.7 15.7 17.0 17.9
80.6 93.0 122.1 157.8 360.7 -95.8 -27.5 -14.4 -9.2 -5.7 -10.0 -14.7
26.2 22.5 26.2 23.5 21.4 18.9 16.1 18.5 21.0 19.1 23.1 25.8
15.2 11.7 15.4 13.4
25.5 25.1 27.1 31.2 31.7 33.4 35.5 24.3 26.1 27.1 29.1 29.5
19.2 -49.1 -32.5 95.0 80.9 83.6 -103.1 99.7 45.9 44.5 13.7 42.9
6.0 5.4 5.0 8.4
13.9 12.0 11.0 10.0 10.4 12.0 13.1 14.5 17.3 18.6 15.0 16.1
5.5 5.4 5.2 5.6
8.3 9.0 9.5 8.1 9.4 9.1 8.0 9.4 11.8 12.3 7.3 4.5
9.6 10.2 9.5 12.9 14.2 14.3 13.0 15.9 17.3 16.7 15.3 16.8
13.4 17.3 16.4 11.5 11.6 10.7 8.2 9.2 10.7 11.9 9.2 12.4
13.7 16.3 19.0 19.1 17.0 19.9 18.9 21.9 26.3 27.1 25.2 28.7
8.9 14.0 11.1 14.3 13.4 3.3 3.4 3.7 5.3 43.6 29.6 22.4
19.6 15.2 21.3 15.7 14.7 9.7 6.5 5.9 7.8 16.1 208.4 -41.2
30.6 25.1 26.0 23.7
11.1 10.1 14.0 15.4 13.1 14.7 12.4 12.6 12.6 10.5 12.2 11.3
62.0 71.5 51.3 33.2 31.8 30.5 36.2 48.3
29.1 20.7 17.5 17.8 16.6 15.4 10.8 13.1 16.5 15.3 18.8 17.8
123.2 -49.2 -30.7 -47.3 -22.9 -17.1 -11.8 -4.0 -5.9 -3.7 -4.6 -11.2
19.2 5.8 4.9 11.2 9.9 12.4 5.9 6.5 6.2 4.1 3.9 -1.2
23.3 6.9 5.8 13.5 12.3 15.6 7.8 9.7 8.6 5.6 5.9 -2.1
5.6 4.1 3.3 4.0 4.3 4.8 4.0 3.9 4.6 3.5 3.8 26.0
5.6 4.1 3.3 4.0 4.3 4.8 4.0 3.9 4.6 3.5 3.8 26.0
8.5 12.6 16.1 15.2 14.2 11.7 16.2 55.7 116.4 182.4 37.0 15.3

9.2 8.0 3.6 20.7 12.6 9.0 -19.0 -7.4 -5.5 -4.1 -9.2 -17.7
39.7 27.4 25.3 12.5 28.5 117.4 -16.5 -1.9 -2.0 -1.3 -2.3 -16.4
27.0 14.3 14.2 16.0 15.1 15.9 11.9 12.4 15.1 14.8 19.1 21.6
28.1 13.0 12.7 12.3 11.7 11.2 4.8 9.7 13.0 12.7 17.4 20.7
6.9 12.4 14.1 31.7 22.7 -106.9 -4.1 -4.5 -3.8 -2.0 -3.2 -2.4
 20.9 21.9 17.5 17.8 24.4 19.3 23.9 22.2
56.4 37.1 -274.6 -97.5 -172.3 -57.3 72.5 51.1
12.0 10.2 11.7 13.1 12.0 11.5 8.8 10.3 10.3 8.7 9.0 10.3
22.1 17.2 19.6 17.7 16.7 14.9 11.1 13.1 13.6 11.2 12.4 14.1
29.3 41.5 41.2 -69.7 -65.8 -30.7 -13.9 -57.6 -78.5 165.1 29.2 23.2
27.7 -79.7 -294.7 9.6 9.2 7.1 16.7 40.2 15.5 54.2 13.4 15.6
51.9 48.6 48.9 40.5 35.0 38.9 37.0 34.7 44.6 44.8 48.7 46.4
9.1 8.2 7.6 9.0 11.1 14.1 19.3 17.2 16.8 16.3 12.1 10.7
-133.4 -49.5 -59.4 -258.2 -249.5 -196.8 -116.7 -59.4 -51.0 -40.1 -56.4 -58.1
23.1 23.1 24.8 22.4 20.3 21.4 18.2 17.6 23.7 22.1 25.7 27.9
-54.2 -26.7 -82.6 114.0 32.3 16.4 -276.3 -214.7 -166.7 -7.0 -8.3 -3.5
11.5 17.4 56.9 36.8 23.0 213.7 -4.8 -4.0 -5.4 -5.2 -52.1 -18.1
14.4 12.5 12.8 11.9 9.4 8.8 6.6 6.8 8.6 6.6 9.4 11.0
22.7 24.3 27.8 27.6 26.3 22.4 18.2 18.8 20.6 23.6 26.6 29.4
11.4 9.3 16.7 25.2
-281.3 3536.0 -467.9 -523.7 -296.5 -123.9 -187.0 -91.3 -85.4 -20.6 -16.8 -12.4
6.3 6.0 4.7 7.0 5.4 18.0 20.7 19.7
5.2 5.3 4.2 6.5 4.7 15.7 17.0 17.9
22.4 26.7 27.3 24.7 30.0 30.7 24.3 24.3 30.1 23.0 24.5 22.7
22.4 26.7 27.3 24.7 30.0 30.7 24.3 24.3 30.1 23.0 24.5 22.7
14.0 15.4 16.3 14.2 11.4 10.7 7.4 9.4 14.0 -22.2 -12.4 -2.0
11.1 8.5 11.7 11.4 11.1 8.4 7.1 9.1 10.1 13.0 16.7 12.2
9.9 7.4 10.5 10.2 9.7 7.6 6.5 8.5 9.7 12.5 16.0 12.2
-147.1 -100.6 -64.2 -34.4 -19.4 -33.5 -35.0
15.5 11.7 12.2 10.1 10.8 11.6 12.9 13.5 14.1 14.1 14.1 14.1
19.6 19.7 17.7 17.7 22.5 25.8 30.7 31.4
13.8 11.6 13.1 11.3 19.6 24.0 21.9 27.3 22.9 9.5 10.8 -9.2
34.8 25.0 25.4 22.2 19.5 19.0 14.8 15.9 18.7 18.6 19.7 17.8
4.7 6.1 5.2 6.0 7.1 6.3 7.6 9.7 10.4 13.0 11.5 10.4
7.8 6.0 47.2 92.2 -75.9 -7.4 -736.1 -42.7
4.1 25.2 10.8 9.5 5.8 5.1 -14.6 -16.7 -19.6 -19.6 -19.6 -19.6
31.8 26.3 23.3 7.6 8.8 8.5 7.0 17.5 21.0 20.2 14.1 13.7
22.6 14.5 17.5 6.2 8.8 8.5 7.0 17.5 21.0 20.2 14.1 13.7
8.8 8.5 7.0 17.5 21.0 20.2 14.1 13.7
9.1 7.8 8.7 8.9 8.5 18.1 16.0 13.4 13.0 11.6 11.2 12.4
2.1 1.8 1.5 8.0 5.2 5.3 4.2 6.5 4.7 15.7 17.0 17.9
3.1 2.8 2.2 8.9 6.3 6.0 4.7 7.0 5.4 18.0 20.7 19.7
2.6 2.0 1.7 6.7 5.2 5.3 4.2 6.5 4.7 15.7 17.0 17.9
8.5 8.7 9.9 10.3 9.7 9.3 7.9 9.7 10.4 10.7 7.1 6.0
17.8 17.7 18.5 20.5 25.7 28.4 26.7 24.9
24.9 20.8 21.9 18.9 17.8 17.7 18.5 20.5 25.7 28.4 26.7 24.9
17.9 13.6 14.2 13.8 24.0 26.9 46.0 74.6 106.6 -312.7 -43.4 -21.7
17.5 13.8 12.5 12.4 17.0 15.7 22.5 44.1 64.6 -256.0 -37.8 -20.3
-22.9 -17.1 -11.8 -4.0 -5.9 -3.7 -4.6 -11.2
30.5 15.4 12.3 9.9 7.4 6.3 5.8 5.6 6.9 7.6 8.3 23.3
26.4 13.4 10.9 8.7 6.6 5.7 5.3 5.4 6.7 7.4 8.0 22.5
21.1 18.9 14.9 11.3 8.5 18.1 16.0 13.4 13.0 11.6 11.2 12.4
8.5 18.1 16.0 13.4 13.0 11.6 11.2 12.4
 Fonte de Dados: Majer & Majer BMFBovespa
2013 1T 2013 2T 2013 3T 2013 4T
2013
1T 2T 3T 4T
BMFBovespa Boletim > Indicadores > composição carteira teórica (retroativo)
 1999 2000
1999 3T 1999 4T 2000 1T 2000 2T
45 45 46 46 44 44 52 52
Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L
RCTB41 37.12% 0.59 RCTB41 33.88% 1.19 RCTB41 36.32% 2.06 PETR4 10.19% 8.10
PETR4 10.17% 264.20 PETR4 8.96% 28.20 PETR4 9.03% 9.18 TNLP4 8.47% 78.48
RCTB31 6.50% 0.74 RCTB31 7.35% 1.19 RCTB31 8.08% 2.06 ELET6 6.90% -25.79
ELET6 6.16% 5.76 ELET6 5.86% 39.90 TLPP4 5.58% 31.22 TSPP4 5.24% 17.37
TLSP4 4.93% 17.76 TLPP4 4.69% 28.89 ELET6 4.68% -23.03 BBDC4 5.04% 9.56
ELET3 3.36% 5.66 VALE5 3.58% 15.53 BBDC4 3.35% 9.43 EBTP4 4.90% 21.30
BBDC4 3.19% 7.81 BBDC4 3.41% 11.76 VALE5 3.28% 11.78 PLIM4 4.58% -18.02
VALE5 3.10% 15.10 CMIG4 3.10% 190.98 BESP4 2.96% -1.00 TCSP4 4.49% 89.81
CMIG4 3.09% 349.56 ELET3 2.85% 36.58 CMIG4 2.25% 11.24 CMIG4 4.20% 9.96
TSPC6 1.75% 17.76 BESP4 2.79% -1.00 ELET3 2.20% -21.31 VALE5 3.97% 11.35
BESP4 1.65% -1.00 EMBR3 1.54% 10.01 TSPP4 1.79% 31.22 ELET3 3.39% -23.92
BBAS4 1.54% 2.76 TSPC6 1.36% 28.89 EMBR3 1.52% 8.70 EMBR3 2.29% 9.95
ITAU4 1.20% 5.47 PETR3 1.35% 24.52 PETR3 1.46% 8.56 TNLP3 2.26% 65.01
USIM5 1.15% 6.19 BBAS4 1.35% 7.09 ITAU4 1.24% 12.00 PETR3 2.24% 7.87
TERJ4 1.11% 72.94 ITAU4 1.29% 9.49 BBAS4 1.08% 12.48 BESP4 2.23% -1.00
ELPL4 1.06% -28.44 USIM5 1.20% 7.11 TERJ4 1.06% -524.89 EBTP3 1.82% 16.61
LIGH3 1.02% -5.09 CPLE6 1.13% 16.59 LIGH3 1.05% -20.24 ITAU4 1.76% 11.53
CLSC6 1.02% -4.39 CLSC6 1.09% 442.58 USIM5 1.05% 8.36 ITSA4 1.55% 6.29
CPLE6 1.00% 14.19 LIGH3 0.99% -11.02 ELPL4 0.97% 12.07 CPLE6 1.42% 11.31
BRHA4 0.84% -16.34 INEP4 0.92% -2.17 CPLE6 0.94% 10.31 TCOC4 1.34% 124.69
CESP4 0.79% -1.00 TERJ4 0.91% -44.87 CLSC6 0.82% 40.48 BBAS4 1.28% 6.97
GEPA4 0.79% -1.00 ELPL4 0.87% 12.11 BRHA4 0.80% -10.88 USIM5 1.25% 7.58
GETI4 0.79% 6,745.00 ITSA4 0.87% 6.07 CESP4 0.80% -1.00 CLSC6 1.25% 14.74
INEP4 0.79% -16.73 CESP4 0.80% -1.00 ITSA4 0.77% 6.40 TCSP3 1.22% 74.13
BRDT4 0.68% -302.25 BRHA4 0.78% -10.18 TRPL4 0.76% 35.32 TCSL4 1.18% 204.85
ITSA4 0.63% 2.91 GETI4 0.65% -4.88 GETI4 0.69% -5.70 CESP4 1.06% -1.00
CSNA3 0.48% 21.09 BRDT4 0.61% 264.20 INEP4 0.56% -1.19 ACES4 1.05% -1.00
WHMT3 0.38% -23.47 CSNA3 0.55% 15.13 WHMT3 0.50% -1.00 TNEP4 1.04% 204.85
TLSP3 0.35% 12.00 GEPA4 0.53% 12.60 CSNA3 0.48% 14.33 BRHA4 1.00% -9.30
GRSU3 0.33% -5.11 WHMT3 0.50% -32.90 PTIP4 0.46% 8.28 TERJ4 0.98% 89.81
CRUZ3 0.33% 5.27 TRPL4 0.48% 27.87 BRDT4 0.45% 28.20 ELPL4 0.85% 10.66
TEPR4 0.31% 72.94 CSTB4 0.45% -1.00 TLPP3 0.41% 18.54 EMBR4 0.83% 9.95
CSTB4 0.30% -1.00 PTIP4 0.44% 12.60 CSTB4 0.40% -1.00 CSNA3 0.70% 13.83
KLAB4 0.28% -4.13 CRUZ3 0.41% 6.08 TEPR4 0.36% -524.89 LIGH3 0.70% -46.54
PTIP4 0.26% -1.00 TLPP3 0.32% 16.50 CRUZ3 0.33% 6.69 INEP4 0.69% -0.73
TRPL4 0.26% 9.01 GRSU3 0.30% -13.59 GRSU3 0.30% 11.00 BRDT4 0.64% 9.18
PALF3 0.25% -1.00 TEPR4 0.29% -44.87 KLAB4 0.29% 19.70 SBSP3 0.63% 5.42
CMIG3 0.23% 219.38 KLAB4 0.29% -9.63 ARCZ6 0.20% 24.26 TEPR4 0.62% 89.81
ARCZ6 0.19% 91.90 ARCZ6 0.25% 52.87 CPNE5 0.17% 4.42 TRPL4 0.58% -805.40
BBAS3 0.14% 2.76 VCPA4 0.21% 52.87 CMIG3 0.16% 8.04 GETI4 0.52% -6.37
PSIM4 0.14% 91.90 CMIG3 0.19% 115.58 VCPA4 0.16% 24.26 CRUZ3 0.51% 6.21
CPNE5 0.12% 5.18 BBAS3 0.17% 7.09 BBAS3 0.13% 12.48 PTIP4 0.45% 7.65
BMTO4 0.12% -21.19 CPNE5 0.17% 6.46 DURA4 0.06% -1.00 CSTB4 0.44% -1.00
DURA4 0.06% -1.00 BMTO4 0.13% -26.00 CPSL3 0.05% 4.42 VCPA4 0.36% 19.60
CPSL3 0.04% 5.18 DURA4 0.06% -1.00 ARCZ6 0.36% 19.60
CPSL3 0.06% 6.46 KLAB4 0.36% 17.70
GRSU3 0.30% 13.18
CPNE5 0.25% 4.28
BBAS3 0.22% 6.97
CMIG3 0.19% 7.49
DURA4 0.10% -1.00
CPSL3 0.09% 4.28
 0 0 0 0
Cortes 1999 3T 1999 4T 2000 1T 2000 2T
40 3.25 10.68 6.71 6.38
0
2000 2001
2000 3T 2000 4T 2001 1T 2001 2T 2001 3T
57 57 56 56 56 56 56 56 57 57
Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%)
PETR4 8.86% 6.22 TNLP4 9.75% 21.75 PETR4 10.16% 4.88 TNLP4 11.21% 16.46 TNLP4 12.88%
TNLP4 8.39% 37.55 PETR4 8.92% 4.89 TNLP4 8.59% 16.22 PETR4 9.85% 5.07 PETR4 10.23%
PLIM4 7.32% -24.86 PLIM4 8.39% -16.03 PLIM4 5.87% -7.40 PLIM4 5.35% -4.68 BBDC4 5.72%
BBDC4 5.14% 10.05 EBTP4 4.58% 17.13 VALE5 4.21% 9.56 BBDC4 4.61% 9.60 PLIM4 4.58%
EBTP4 4.39% 18.56 TCSP4 4.33% 19.59 BESP4 4.16% -1.00 TCSP4 4.25% 22.97 TCSP4 4.38%
ELET6 4.26% -30.42 TSPP4 3.77% 9.28 PETR3 3.94% 5.35 TSPP4 4.16% 8.19 EBTP4 3.98%
TSPP4 4.24% 11.80 BBDC4 3.73% 11.26 ELET6 3.87% 6.36 EBTP4 4.14% 24.53 VALE5 3.94%
TCSP4 3.94% 31.01 PETR3 3.36% 5.19 TCSP4 3.47% 14.53 PETR3 3.91% 5.65 PETR3 3.78%
CMIG4 3.89% 9.80 VALE5 3.32% 8.65 EBTP4 3.37% 16.85 VALE5 3.34% 9.10 ELET6 3.51%
VALE5 3.33% 8.77 CMIG4 3.18% 10.81 BBDC4 3.30% 11.12 CMIG4 3.03% 20.64 TEPR4 3.22%
PETR3 2.75% 6.52 ELET6 3.05% 7.88 CMIG4 3.27% 13.61 TEPR4 2.49% 22.97 CMIG4 2.87%
ELET3 2.64% -29.14 BESP4 2.51% -1.00 ELET3 2.61% 6.60 ELET6 2.47% 4.09 ITAU4 2.76%
BESP4 2.59% -1.00 TEPR4 2.19% 19.59 TSPP4 2.47% 8.86 ITAU4 2.23% 9.49 TSPP4 2.37%
TNLP3 1.90% 29.06 BRAP4 2.12% 13.84 BRAP4 1.94% 87.74 EBTP3 1.84% 24.98 ELET3 1.90%
EBTP3 1.86% 14.80 ELET3 2.07% 7.89 EBTP3 1.77% 15.64 BRAP4 1.80% 19.32 ITSA4 1.59%
ITSA4 1.77% 5.97 EBTP3 1.96% 13.03 TEPR4 1.75% 14.53 TCSL4 1.70% 43.01 TCSL4 1.54%
EMBR3 1.73% 10.74 ITAU4 1.80% 11.92 ITAU4 1.74% 9.36 ITSA4 1.67% 4.77 EBTP3 1.53%
ITAU4 1.72% 3.61 TNLP3 1.65% 16.57 TNLP3 1.71% 14.60 ELET3 1.58% 4.44 TMCP4 1.50%
TCOC4 1.38% 81.33 ITSA4 1.62% 6.40 ITSA4 1.57% 4.37 TMCP4 1.52% -42.07 AMBV4 1.48%
TCSP3 1.35% 21.32 TCSL4 1.41% 112.06 CESP4 1.48% -1.00 TCOC4 1.51% -42.07 TNEP4 1.38%
USIM5 1.27% 8.07 TCOC4 1.41% 61.90 TCSP3 1.46% 13.18 TNLP3 1.47% 14.31 BRAP4 1.36%
ACES4 1.26% -1.00 TCSP3 1.38% 18.78 CSNA3 1.33% 2.48 TCSP3 1.35% 19.14 TNLP3 1.35%
CPLE6 1.21% 9.65 ACES4 1.17% -1.00 TCOC4 1.27% 346.16 CSNA3 1.33% 2.35 TCOC4 1.33%
CLSC6 1.10% 18.03 CESP4 1.13% -1.00 EMBR3 1.25% 10.88 TNEP4 1.33% 43.01 BBAS4 1.16%
AMBV4 1.09% 238.12 USIM5 1.08% 8.58 CPLE6 1.17% 13.40 ARCZ6 1.30% 18.03 TCSP3 1.16%
BBAS4 1.05% 14.91 CSNA3 1.06% 2.72 ACES4 1.17% -1.00 BBAS4 1.22% 7.69 CPLE6 1.12%
EMBR4 0.98% 10.74 AMBV4 1.02% 39.43 EMBR4 1.16% 10.88 AMBV4 1.18% 21.04 CSNA3 1.02%
TCSL4 0.97% 108.78 TNEP4 1.01% 112.06 AMBV4 1.15% 25.36 EMBR4 1.11% 10.99 USIM5 0.99%
TEPR4 0.96% 31.01 CPLE6 0.98% 10.05 USIM5 1.14% 10.24 CESP4 1.08% -1.00 ARCZ6 0.98%
CESP4 0.92% -1.00 EMBR4 0.92% 10.06 TCSL4 1.13% 72.24 TLCP4 1.06% -42.07 CESP4 0.97%
LIGH3 0.86% 42.81 EMBR3 0.91% 10.06 CRTP5 1.04% 346.16 CPLE6 1.05% 14.50 EMBR3 0.85%
SBSP3 0.85% 8.23 ARCZ6 0.88% 14.36 TLCP4 1.02% 346.16 EMBR3 1.04% 10.99 TLPP4 0.82%
TERJ4 0.82% 31.01 TMCP4 0.88% 61.90 SBSP3 1.00% 19.84 CRTP5 0.91% -42.07 ACES4 0.82%
TNEP4 0.79% 108.78 SBSP3 0.87% 9.50 BBAS4 0.99% 4.98 USIM5 0.89% 9.41 GGBR4 0.81%
TMCP4 0.78% 81.33 TLCP4 0.80% 61.90 ARCZ6 0.94% 14.07 SBSP3 0.88% 74.21 EMBR4 0.76%
CSNA3 0.76% 8.20 BBAS4 0.79% 4.36 GGBR4 0.92% 5.71 GGBR4 0.80% 4.96 CRUZ3 0.72%
CSTB4 0.75% -1.00 COGU4 0.78% 5.15 TLPP4 0.80% 8.86 ACES4 0.78% -1.00 CGAS5 0.69%
ELPL4 0.69% 11.57 CLSC6 0.72% 111.03 TNEP4 0.79% 72.24 TLPP4 0.75% 8.19 ELPL4 0.69%
COGU4 0.69% 7.06 TLPP4 0.71% 9.28 CLSC6 0.78% 25.15 ELPL4 0.66% 33.26 SBSP3 0.64%
CRGT5 0.67% 31.01 CRTP5 0.68% 61.90 TRPL4 0.76% 17.46 TRPL4 0.65% 8.48 TMAR6 0.56%
TLCP4 0.67% 81.33 TRPL4 0.65% 18.68 CRUZ3 0.69% 6.35 TERJ4 0.63% 22.97 BRDT4 0.56%
INEP4 0.66% -0.78 CSTB4 0.63% -1.00 TMCP4 0.68% 346.16 CRUZ3 0.62% 6.07 TCSL3 0.50%
TRPL4 0.64% 96.95 ELPL4 0.60% 15.76 CSTB4 0.68% -1.00 CSTB4 0.61% -1.00 CLSC6 0.50%
TCSL3 0.58% 83.68 LIGH3 0.60% -11.55 BRDT4 0.64% 4.89 TCSL3 0.61% 36.35 VCPA4 0.50%
BRDT4 0.57% 8.10 TCSL3 0.59% 86.82 ELPL4 0.59% 43.32 VCPA4 0.54% 18.03 CRTP5 0.49%
TLPP4 0.57% 11.80 TERJ4 0.59% 19.59 LIGH3 0.57% -6.06 CLSC6 0.54% 25.07 TRPL4 0.48%
PTIP4 0.53% 8.59 INEP4 0.54% -0.74 TERJ4 0.54% 14.53 INEP4 0.49% -0.76 TLCP4 0.48%
CRTP5 0.52% 81.33 BRDT4 0.48% 6.22 INEP4 0.50% -0.66 LIGH3 0.44% -2.92 CSTB4 0.41%
ARCZ6 0.51% 19.99 VCPA4 0.46% 14.36 VCPA4 0.49% 14.07 BRDT4 0.44% 4.88 CPNE5 0.34%
CRUZ3 0.48% 5.63 CRUZ3 0.46% 5.32 TCSL3 0.47% 55.43 CPNE5 0.33% 16.60 INEP4 0.33%
KLAB4 0.46% 12.72 KLAB4 0.37% 81.12 CPNE5 0.34% 9.00 KLAB4 0.30% -8.73 LIGH3 0.31%
VCPA4 0.44% 19.99 CPNE5 0.31% 4.72 PTIP4 0.30% 8.72 GRSU3 0.30% 18.35 KLAB4 0.29%
BRAP4 0.41% -12.69 PTIP4 0.27% 7.63 KLAB4 0.27% -8.94 PTIP4 0.25% 7.77 BBAS3 0.26%
CPNE5 0.32% 4.50 GRSU3 0.20% 10.91 GRSU3 0.26% 15.23 BBAS3 0.23% 7.69 GRSU3 0.20%
GRSU3 0.26% 9.36 BBAS3 0.18% 4.36 BBAS3 0.24% 4.98 CMIG3 0.20% 19.89 PTIP4 0.20%
BBAS3 0.23% 14.91 CMIG3 0.15% 9.00 CMIG3 0.18% 12.92 TDBH4 0.04% 8.19 CMIG3 0.20%
CMIG3 0.18% 7.55 TDBH4 0.03%

0 0 0 0
2000 3T 2000 4T 2001 1T 2001 2T
11.30 9.68 8.27 10.87
 2002
2001 3T 2001 4T 2002 1T 2002 2T 2002 3T 2002 4T
57 57 57 57 57 57 55 55 55
P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo
29.53 TNLP4 13.10% 98.35 PETR4 10.96% 7.15 TNLP4 15.10% -75.06 TNLP4 13.48% -30.47 TNLP4
4.91 PETR4 9.10% 5.40 TNLP4 10.74% 110.91 PETR4 9.62% 6.33 PETR4 9.24% 4.12 PETR4
7.63 TSPP4 5.69% 9.90 BBDC4 5.85% 9.32 TSPP4 4.93% 11.91 BBDC4 4.92% 5.95 BBDC4
-2.26 BBDC4 5.05% 8.33 ELET6 4.08% 7.63 BBDC4 4.44% 7.85 TSPP4 4.54% 10.07 TSPP4
20.91 EBTP4 4.61% -6.08 TSPP4 3.92% 11.13 VALE5 4.14% 11.07 EBTP4 4.50% -0.75 EBTP4
-25.19 PLIM4 3.95% -3.25 EBTP4 3.72% -4.68 ELET6 3.33% 7.06 VALE5 4.17% 28.25 ITAU4
6.97 ELET6 3.28% 5.16 PETR3 3.68% 7.59 EMBR4 3.19% 10.93 ITAU4 3.43% 6.03 ELET6
5.06 TCSP4 3.25% 25.00 VALE5 3.47% 7.84 PETR3 3.18% 6.83 EMBR4 3.28% 9.87 PETR3
3.54 VALE5 2.98% 6.84 TCSP4 3.37% 23.44 BRTP4 3.05% 14.25 BRTP4 3.18% 12.94 CMIG4
20.91 PETR3 2.96% 5.54 TEPR4 2.90% 23.44 ITAU4 2.99% 7.31 PETR3 3.16% 4.49 VALE5
-39.39 TEPR4 2.83% 25.00 ITAU4 2.83% 7.81 CMIG4 2.92% -12.04 ELET6 2.97% 2.11 EMBR4
-22.59 ITAU4 2.59% 6.99 CMIG4 2.71% 7.74 BRTO4 2.91% 14.25 BRTO4 2.91% 12.94 BRTP4
7.14 CMIG4 2.52% 10.98 PLIM4 2.50% -2.42 TMAR5 2.12% -389.92 CMIG4 2.50% -7.04 BRTO4
3.85 EMBR4 1.72% 6.96 ELET3 1.99% 8.62 TNEP4 1.96% 18.84 TMAR5 2.11% 33.09 PLIM4
3.70 EBTP3 1.69% -6.69 EMBR4 1.81% 7.40 PLIM4 1.88% -0.67 AMBV4 2.07% 13.15 TMAR5
18.28 ELET3 1.55% 5.51 ITSA4 1.64% 6.26 TMCP4 1.83% -1.52 TCOC4 2.04% -2.92 TCOC4
-26.24 AMBV4 1.51% 24.61 USIM5 1.61% 6.49 AMBV4 1.79% 17.36 BBAS3 1.69% 3.38 BBAS3
-5.27 TMCP4 1.51% -3.50 AMBV4 1.50% 24.22 TCOC4 1.68% -1.52 ITSA4 1.53% 3.86 AMBV4
19.64 TCOC4 1.50% -3.50 EBTP3 1.48% -5.59 EMBR3 1.49% 10.93 TMCP4 1.49% -2.92 CSNA3
18.28 ITSA4 1.42% 4.75 BBAS4 1.40% 6.38 TCSL4 1.49% 18.84 TNEP4 1.48% 13.08 ITSA4
8.87 BBAS4 1.40% 6.97 EMBR3 1.39% 7.40 USIM5 1.45% -56.16 PLIM4 1.35% -0.61 CPLE6
26.71 TNEP4 1.38% 20.33 TCOC4 1.36% -2.41 ITSA4 1.39% 5.03 CSNA3 1.31% -3.10 USIM5
-5.27 TMAR5 1.37% 298.90 CPLE6 1.31% 8.02 ELET3 1.37% 7.73 USIM5 1.31% -1.44 GGBR4
5.47 USIM5 1.32% 6.09 TNEP4 1.24% 16.25 EBTP4 1.29% -0.72 TCSL4 1.27% 13.08 TMCP4
17.07 EMBR3 1.31% 6.96 TMCP4 1.20% -2.41 TNLP3 1.23% -62.33 SBSP3 1.15% -6.12 TNEP4
18.35 TNLP3 1.29% 82.18 TMAR5 1.19% 49.75 BBAS4 1.17% 3.96 CPLE6 1.13% 5.82 SBSP3
1.06 TCSL4 1.28% 20.33 CRTP5 1.15% -2.41 CRTP5 1.13% -1.52 EMBR3 1.12% 9.87 ELET3
10.70 CPLE6 1.25% 9.67 TCSL4 1.12% 16.25 CSNA3 1.11% 46.52 TNLP3 1.03% -22.69 VALE3
18.59 CRTP5 1.21% -3.50 TNLP3 1.11% 97.93 CPLE6 1.07% 6.38 ELET3 1.01% 2.08 TCSL4
-529.93 BRAP4 0.94% -9.88 CSNA3 1.08% 10.27 TLPP4 1.01% 11.91 GGBR4 1.01% 4.08 TNLP3
4.23 CESP4 0.94% 3.11 GGBR4 1.02% 6.60 GGBR4 0.92% 6.21 TLPP4 0.95% 10.07 TLPP4
7.14 CSNA3 0.92% 8.84 CESP4 0.94% 2.80 ELPL4 0.76% 3.96 CRUZ3 0.93% 5.43 EBTP3
-1.00 TLCP4 0.87% -3.50 BRAP4 0.92% -8.58 BRAP4 0.74% -1.15 EBTP3 0.92% -0.99 ELPL4
3.37 TCSP3 0.82% 19.89 TLPP4 0.88% 11.13 TLCP4 0.73% -1.52 CRTP5 0.85% -2.92 EMBR3
4.23 CGAS5 0.80% 17.06 ACES4 0.85% -1.00 ARCZ6 0.71% 35.32 ARCZ6 0.74% 56.99 CRUZ3
5.08 ACES4 0.76% -1.00 TCSP3 0.84% 17.75 BRTP3 0.71% 11.85 BRAP4 0.70% -0.76 ARCZ6
30.44 TLPP4 0.73% 9.90 SBSP3 0.81% 10.38 TRPL4 0.70% 8.67 BRTP3 0.68% 11.57 CRTP5
143.34 GGBR4 0.72% 5.23 TRPL4 0.81% 12.57 CESP4 0.69% -1.08 CSTB4 0.67% -1.00 CSTB4
-14.71 SBSP3 0.72% 17.39 CRUZ3 0.79% 7.03 CRUZ3 0.65% 6.10 VCPA4 0.67% 56.99 VCPA4
-228.25 ELPL4 0.71% 5.75 ARCZ6 0.76% 24.33 SBSP3 0.63% 48.03 TLCP4 0.64% -2.92 BRAP4
5.07 TRPL4 0.70% 13.67 TLCP4 0.75% -2.41 ACES4 0.63% -1.00 ELPL4 0.63% 19.92 ACES4
15.78 CRUZ3 0.68% 6.82 CGAS5 0.72% 15.13 CLSC6 0.62% -11.08 CESP4 0.58% -0.19 CLSC6
-39.90 ARCZ6 0.61% 21.98 ELPL4 0.69% 4.54 BRDT4 0.56% 7.15 TRPL4 0.56% 5.32 BRDT4
18.59 TCSL3 0.49% 17.06 BRDT4 0.58% 5.40 EBTP3 0.55% -1.35 CLSC6 0.56% -8.79 BRTP3
-5.27 CLSC6 0.47% -3.99 CLSC6 0.58% -7.99 TCSL3 0.53% 15.69 ACES4 0.55% -1.00 TLCP4
5.42 BRDT4 0.45% 4.91 CSTB4 0.48% -1.00 VCPA4 0.53% 35.32 BRDT4 0.53% 6.33 CESP4
-5.27 VCPA4 0.40% 21.98 TCSL3 0.45% 14.09 CSTB4 0.52% -1.00 TCSL3 0.42% 10.30 TRPL4
-1.00 CSTB4 0.38% -1.00 VCPA4 0.44% 24.33 CGAS5 0.48% 9.86 CGAS5 0.37% 9.62 TCSL3
8.78 CPNE5 0.35% -33.78 CPNE5 0.40% -12.84 CPNE5 0.33% -1.76 TBLE3 0.37% 10.88 TBLE3
-0.51 LIGH3 0.32% -1.81 BBAS3 0.35% 6.38 LIGH3 0.30% -5.79 BRKM5 0.29% -0.39 BRKM5
-1.21 INEP4 0.32% -0.74 TBLE3 0.31% 4.80 TBLE3 0.30% 5.43 LIGH3 0.23% -1.47 CGAS5
-3.13 BBAS3 0.30% 6.97 LIGH3 0.29% -2.01 BBAS3 0.26% 3.96 KLBN4 0.23% -2.20 PTIP4
5.47 GRSU3 0.27% 4.47 KLBN4 0.27% 6.14 KLBN4 0.23% -11.10 INEP4 0.21% -0.13 LIGH3
43.67 KLBN4 0.23% 11.45 INEP4 0.27% -0.54 CMIG3 0.20% -11.21 PTIP4 0.17% 7.87 KLBN4
5.87 CMIG3 0.20% 10.48 CMIG3 0.21% 7.19 INEP4 0.18% -0.13 CMIG3 0.15% -6.61 CMIG3
-38.01 PTIP4 0.16% 7.50 PTIP4 0.18% 8.54 PTIP4 0.17% 7.82
 7.14 TDBH4 0.11% 9.90 TDBH4 0.10% 11.13 TDBH4 0.13% 11.91

0 0 0 0 0
2001 3T 2001 4T 2002 1T 2002 2T 2002 3T
9.97 6.82 7.40 6.34 6.06
 2003
2002 4T 2003 1T 2003 2T 2003 3T 2003 4T
55 54 54 54 54 54 54 54 54
Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L
13.26% -28.13 TNLP4 14.07% -16.28 TNLP4 13.56% -52.90 TNLP4 13.63% 159.57 TNLP4 13.79% 26.35
8.91% 5.14 PETR4 9.82% 3.56 PETR4 9.08% 3.83 PETR4 8.82% 3.99 PETR4 8.58% 4.78
5.90% 7.85 BBDC4 6.62% 8.39 EBTP4 6.37% -6.44 EBTP4 6.82% 9.40 EBTP4 5.91% 14.57
4.83% 15.76 TSPP4 4.86% 14.09 BBDC4 5.29% 7.91 TSPP4 5.30% 14.03 BBDC4 4.72% 10.45
4.75% -2.00 ITAU4 4.34% 7.49 TSPP4 4.79% 14.06 BBDC4 4.82% 7.97 TSPP4 4.53% 14.08
3.92% 8.79 EBTP4 4.28% -1.95 ITAU4 3.76% 7.63 ELET6 3.43% -3.89 VALE5 3.28% 12.69
3.71% 11.45 ELET6 3.18% 18.86 ELET6 3.39% -8.94 ITAU4 3.11% 7.82 ELET6 3.22% 75.19
3.12% 5.85 PETR3 3.10% 3.90 EMBR4 3.33% 7.06 VALE5 3.10% 7.63 CMIG4 3.09% 7.14
2.91% -4.28 CMIG4 2.78% -3.83 PETR3 2.99% 4.18 CMIG4 2.94% 5.79 ITAU4 2.95% 16.41
2.74% 18.56 BRTP4 2.76% 11.44 VALE5 2.65% 8.08 PETR3 2.56% 4.33 EMBR4 2.48% 21.36
2.66% 7.59 VALE5 2.45% 13.22 CSNA3 2.54% 6.90 EMBR4 2.45% 8.44 BRTO4 2.47% -327.31
2.65% 14.38 TCOC4 2.26% -4.19 BRTP4 2.48% 14.81 BRTO4 2.13% 15.16 PETR3 2.43% 5.26
2.37% 14.38 BRTO4 2.23% 11.44 BRTO4 2.38% 14.81 CSNA3 2.13% 6.78 USIM5 2.41% 5.83
2.00% -0.76 CSNA3 2.19% 12.12 CMIG4 2.34% 9.97 TMAR5 2.13% 17.53 CSNA3 2.37% 10.62
1.94% 16.08 BBAS3 2.09% 3.63 TCOC4 1.97% -4.88 BRTP4 2.10% 15.16 BRTP4 2.01% -327.31
1.93% -4.37 USIM5 1.97% 140.58 USIM5 1.85% 3.82 USIM5 2.10% 2.79 AMBV4 1.98% 20.59
1.87% 3.59 EMBR4 1.86% 4.83 GGBR4 1.77% 5.17 PLIM4 2.02% -2.65 CPLE6 1.97% 21.75
1.74% 14.09 AMBV4 1.84% 12.33 TMAR5 1.68% 13.94 TCOC4 1.98% -5.99 TMAR5 1.96% 18.60
1.72% -16.78 ITSA4 1.76% 3.65 BBAS3 1.67% 4.26 CPLE6 1.82% -254.02 GGBR4 1.91% 7.96
1.56% 3.99 TMAR5 1.72% 12.26 AMBV4 1.63% 14.56 AMBV4 1.57% 17.73 TCOC4 1.71% -13.85
1.52% -8.55 TMCP4 1.35% -4.19 ITSA4 1.53% 4.31 GGBR4 1.50% 7.09 PLIM4 1.65% -6.88
1.41% -4.60 PLIM4 1.33% -0.51 SBSP3 1.41% 40.74 VALE3 1.42% 8.54 SBSP3 1.34% 5.58
1.37% 4.93 GGBR4 1.29% 3.78 TMCP4 1.37% -4.88 BBAS3 1.33% 5.07 ITSA4 1.22% 10.47
1.36% -4.37 CPLE6 1.25% -4.74 CPLE6 1.33% -15.89 SBSP3 1.25% 4.69 VALE3 1.22% 14.61
1.26% 14.29 TNEP4 1.16% 10.47 VALE3 1.31% 8.67 TMCP4 1.19% -5.99 EBTP3 1.17% 21.02
1.24% -4.03 SBSP3 1.10% -3.94 PLIM4 1.11% -0.76 ITSA4 1.17% 5.18 TNLP3 1.13% 20.42
1.23% 11.53 TNLP3 1.08% -11.76 TNLP3 1.06% -38.52 ELET3 1.10% -3.48 BBAS3 1.11% 7.49
1.22% 19.57 VALE3 1.08% 13.74 EBTP3 1.03% -7.03 TNLP3 1.07% 121.84 TMCP4 1.10% -13.85
1.09% 14.29 TCSL4 0.97% 10.47 ELET3 1.01% -8.05 TCSL4 1.06% 10.27 ELET3 1.09% 80.68
1.02% -20.61 ELET3 0.95% 17.09 CRUZ3 1.01% 7.84 EBTP3 1.03% 8.94 TCSL4 1.08% 12.19
0.87% 15.76 CRUZ3 0.87% 5.89 TCSL4 1.01% 9.86 TNEP4 0.97% 10.27 ACES4 1.06% -1.00
0.87% -2.23 EBTP3 0.84% -2.34 TNEP4 1.00% 9.86 ELPL4 0.95% -7.51 CSTB4 1.06% -1.00
0.86% -1.25 TLPP4 0.79% 14.09 EMBR3 0.86% 7.06 CSTB4 0.90% -1.00 VCPA4 0.95% 21.37
0.77% 7.59 ELPL4 0.72% -1.09 CSTB4 0.78% -1.00 TLPP4 0.81% 14.03 ELPL4 0.91% 35.30
0.75% 5.67 CSTB4 0.71% -1.00 TLPP4 0.77% 14.06 CRUZ3 0.74% 9.47 TNEP4 0.91% 12.19
0.70% 40.06 CRTP5 0.71% -4.19 ARCZ6 0.71% 16.10 VCPA4 0.73% 17.80 TLPP4 0.79% 14.08
0.66% -4.37 ACES4 0.70% -1.00 ACES4 0.69% -1.00 ACES4 0.71% -1.00 ARCZ6 0.79% 21.37
0.62% -1.00 ARCZ6 0.69% 27.53 ELPL4 0.64% -1.67 ARCZ6 0.70% 17.80 EMBR3 0.74% 21.36
0.57% 40.06 BRAP4 0.62% -3.75 VCPA4 0.61% 16.10 CRTP5 0.69% -5.99 CRTP5 0.71% -13.85
0.56% -3.94 VCPA4 0.61% 27.53 CRTP5 0.61% -4.88 EMBR3 0.64% 8.44 CRUZ3 0.68% 12.03
0.54% -1.00 BRTP3 0.56% 11.40 BRAP4 0.49% 4.35 CLSC6 0.54% -1.91 CLSC6 0.61% 3.72
0.54% -1.43 EMBR3 0.50% 4.83 BRTP3 0.45% 14.12 CESP4 0.50% 0.70 BRKM5 0.58% 21.88
0.53% 4.12 TLCP4 0.49% -4.19 CLSC6 0.45% -1.19 BRAP4 0.47% 2.10 CESP4 0.49% 2.49
0.52% 13.84 TRPL4 0.48% 4.94 TLCP4 0.42% -4.88 TRPL4 0.41% 6.57 BRAP4 0.49% -16.66
0.51% -4.37 TCSL3 0.47% 11.54 TRPL4 0.42% 5.14 CGAS5 0.40% 9.70 KLBN4 0.48% 3.45
0.51% -0.23 CLSC6 0.44% -1.09 CESP4 0.39% -0.94 BRKM5 0.40% 1.69 BRTP3 0.42% -343.46
0.45% 4.98 CESP4 0.42% -0.20 TBLE3 0.38% 31.46 BRTP3 0.40% 14.82 CGAS5 0.41% 20.73
0.34% 10.22 TBLE3 0.36% -19.52 TCSL3 0.32% 8.70 TLCP4 0.39% -5.99 TRPL4 0.40% 9.30
0.30% -12.45 KLBN4 0.34% -11.01 KLBN4 0.31% 2.44 KLBN4 0.34% 2.09 TCSL3 0.38% 8.94
0.28% -0.81 BRKM5 0.27% -0.97 BRKM5 0.28% -10.63 TCSL3 0.33% 8.26 TLCP4 0.32% -13.85
0.27% 5.91 CGAS5 0.26% 5.21 CGAS5 0.28% 8.70 PTIP4 0.29% 7.27 PTIP4 0.30% 10.55
0.21% 7.81 PTIP4 0.19% 6.26 PTIP4 0.19% 6.92 TBLE3 0.26% 8.34 TBLE3 0.26% 10.11
0.20% -1.42 CMIG3 0.11% -2.92 LIGH3 0.13% -0.65 LIGH3 0.24% -1.22 LIGH3 0.24% -6.22
0.19% -4.54 LIGH3 0.10% -0.65 CMIG3 0.10% 7.99 CMIG3 0.11% 4.39 CMIG3 0.12% 5.02
0.13% -3.80
 0 0 0 0 0
2002 4T 2003 1T 2003 2T 2003 3T 2003 4T
5.96 5.76 5.28 6.02 12.18
 2004
2004 1T 2004 2T 2004 3T 2004 4T 2005 1T
54 54 54 54 55 55 53 53 52
Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo
TNLP4 12.01% 14.57 TNLP4 13.53% 20.35 TNLP4 10.95% 15.74 TNLP4 11.31% 24.99 PETR4
PETR4 9.91% 5.84 PETR4 8.14% 4.95 PETR4 9.67% 6.05 PETR4 8.82% 6.00 USIM5
TSPP4 6.27% 13.60 BBDC4 4.49% 8.87 VALE5 4.16% 11.16 USIM5 4.78% 3.98 VALE5
EBTP4 5.17% 13.03 EBTP4 4.49% 108.12 USIM5 3.74% 4.41 VALE5 4.53% 11.58 CSNA3
BBDC4 4.34% 9.16 TSPP4 4.31% 10.89 ELET6 3.51% 9.00 CSNA3 3.75% 6.79 BBDC4
VALE5 3.05% 12.34 VALE5 3.39% 10.05 EBTP4 3.47% -39.47 EBTP4 3.62% -5.55 EBTP4
CSNA3 3.02% 14.26 USIM5 3.21% 5.26 BBDC4 3.36% 8.79 TSPP4 3.56% 11.47 TSPP4
CMIG4 2.98% 6.12 ITAU4 3.14% 15.49 TSPP4 3.35% 11.56 ELET6 3.37% 16.29 GGBR4
PETR3 2.89% 6.64 ELET6 3.07% 3.96 CMIG4 3.27% 7.40 GGBR4 3.31% 4.98 ITAU4
ITAU4 2.86% 17.41 CMIG4 3.00% 6.15 CSNA3 3.02% 6.78 CMIG4 2.89% 7.60 PLIM4
USIM5 2.84% 6.76 AMBV4 2.75% 17.69 PETR3 2.83% 6.68 BBDC4 2.82% 9.96 ELET6
ELET6 2.71% 20.39 CSNA3 2.64% 8.05 ITAU4 2.70% 13.77 ITAU4 2.73% 9.54 PETR3
EMBR4 2.30% 18.93 GGBR4 2.35% 6.07 AMBV4 2.70% 33.19 PETR3 2.53% 6.58 CMIG4
GGBR4 2.17% 7.83 BRTO4 2.29% -107.03 BRTO4 2.42% -131.16 AMBV4 2.50% 36.59 AMBV4
BRTO4 2.08% -220.96 EMBR4 2.27% 11.36 GGBR4 2.35% 5.21 BRTO4 2.29% 26.10 CMET4
TCOC4 2.08% -22.45 PETR3 2.25% 5.48 PLIM4 2.04% -4.36 CMET4 2.02% 61.72 BRTO4
BRTP4 1.87% -220.96 CPLE6 1.89% 35.38 TCOC4 1.92% -18.84 PLIM4 1.81% -27.26 TCSL4
TMAR5 1.86% 17.25 TCOC4 1.84% -32.59 CPLE6 1.71% 13.42 BRKM5 1.78% 17.53 ACES4
CPLE6 1.59% 10.83 BRTP4 1.76% -107.03 BRTP4 1.63% -131.16 TCSL4 1.77% 9.92 CPLE6
AMBV4 1.59% 18.96 TMAR5 1.69% 13.92 EMBR4 1.58% 7.53 ACES4 1.59% 3.73 VALE3
PLIM4 1.51% -6.25 PLIM4 1.65% -3.44 BRKM5 1.46% 767.47 BRTP4 1.54% 26.10 CSTB4
TMCP4 1.31% -22.45 CSTB4 1.34% -1.00 ACES4 1.43% -1.00 EMBR4 1.53% 8.88 BRKM5
ACES4 1.28% -1.00 ITSA4 1.33% 10.20 ELET3 1.43% 9.68 CPLE6 1.51% 8.48 EMBR4
SBSP3 1.23% 5.23 EBTP3 1.25% 177.68 CMET4 1.39% 42.89 ELET3 1.46% 16.00 TNLP3
ITSA4 1.21% 10.71 ACES4 1.24% -1.00 VALE3 1.34% 13.07 CSTB4 1.40% 3.73 BRTP4
TNLP3 1.16% 13.18 VCPA4 1.22% 25.70 TMAR5 1.32% 10.09 VALE3 1.35% 13.62 ELET3
VALE3 1.15% 14.42 VALE3 1.22% 12.13 CSTB4 1.27% -1.00 TMAR5 1.33% 17.80 TCOC4
TCSL4 1.14% 12.25 SBSP3 1.16% 10.29 EBTP3 1.17% -91.27 VCPA4 1.29% 29.05 ITSA4
BBAS3 1.11% 6.87 TNLP3 1.15% 17.36 TNLP3 1.16% 14.82 TNLP3 1.29% 26.22 TMAR5
CSTB4 1.09% -1.00 ELET3 1.14% 3.97 VCPA4 1.14% 24.94 TCOC4 1.27% -17.19 TMCP4
VCPA4 1.07% 25.05 TMCP4 1.08% -32.59 ITSA4 1.12% 8.79 ITSA4 1.15% 6.01 VCPA4
EBTP3 1.05% 19.32 BBAS3 1.06% 6.14 TMCP4 1.10% -18.84 TMCP4 1.13% -17.19 ARCZ6
ELPL4 0.93% 53.16 BRKM5 0.99% -8.00 TCSL4 1.08% 11.60 SBSP3 1.08% 8.74 SBSP3
TNEP4 0.88% 12.25 TCSL4 0.97% 11.96 TNEP4 1.00% 11.60 ARCZ6 1.08% 29.05 CLSC6
TLPP4 0.86% 13.60 TNEP4 0.92% 11.96 SBSP3 1.00% 6.61 CLSC6 0.95% 4.34 BBAS3
ELET3 0.83% 19.85 ARCZ6 0.89% 25.70 CLSC6 0.98% 3.63 BBAS3 0.83% 8.71 BRAP4
ARCZ6 0.82% 25.05 ELPL4 0.81% -56.59 ELPL4 0.97% -55.84 ELPL4 0.75% 549.40 ELPL4
CLSC6 0.74% 3.84 EMBR3 0.77% 11.36 ARCZ6 0.87% 24.94 BRAP4 0.64% 21.95 TLPP4
CRTP5 0.73% -22.45 CRTP5 0.74% -32.59 CRTP5 0.84% -18.84 TLPP4 0.63% 11.47 EMBR3
CRUZ3 0.71% 12.48 TLPP4 0.72% 10.89 BBAS3 0.84% 6.48 EMBR3 0.61% 8.88 CRTP5
EMBR3 0.70% 18.93 CRUZ3 0.68% 11.10 CESP4 0.67% -3.92 KLBN4 0.61% 10.89 CRUZ3
BRKM5 0.65% 64.31 CLSC6 0.64% 3.12 TLPP4 0.65% 11.56 CRUZ3 0.60% 14.86 KLBN4
BRAP4 0.54% -112.92 KLBN4 0.60% 27.36 CRUZ3 0.63% 12.35 CRTP5 0.58% -17.19 TRPL4
KLBN4 0.54% 3.64 CGAS5 0.51% 11.84 KLBN4 0.61% 10.28 CESP4 0.57% 40.83 CGAS5
TCSL3 0.44% 10.02 CESP4 0.49% -1.11 EMBR3 0.60% 7.53 BRTP3 0.46% 27.38 CESP4
BRTP3 0.43% -217.40 TRPL4 0.48% 6.78 BRAP4 0.55% 69.88 CGAS5 0.45% 13.09 BRTP3
CGAS5 0.40% 16.96 BRAP4 0.44% 12.94 CGAS5 0.48% 12.04 TRPL4 0.44% 6.25 TCSL3
CESP4 0.38% 5.99 BRTP3 0.39% -104.58 BRTP3 0.42% -140.74 TCSL3 0.42% 9.48 PTIP4
TRPL4 0.34% 7.02 TLCP4 0.36% -32.59 TRPL4 0.40% 6.49 PTIP4 0.39% 8.58 TBLE3
PTIP4 0.32% 9.69 TCSL3 0.31% 9.65 TCSL3 0.38% 9.45 TLCP4 0.27% -17.19 LIGH3
TBLE3 0.30% 11.31 PTIP4 0.29% 7.41 PTIP4 0.37% 8.81 LIGH3 0.23% -24.32 TLCP4
TLCP4 0.26% -22.45 LIGH3 0.28% -11.47 TLCP4 0.33% -18.84 CMIG3 0.19% 6.66 CMIG3
LIGH3 0.18% -6.75 TBLE3 0.24% 12.40 LIGH3 0.27% 24.97 TBLE3 0.17% 8.25
CMIG3 0.12% 4.24 CMIG3 0.14% 4.45 CMIG3 0.19% 6.01
TBLE3 0.17% 8.83
 0 0 0 0
2004 1T 2004 2T 2004 3T 2004 4T
10.37 9.60 8.43 11.84
 2005
2005 1T 2005 2T 2005 3T 2005 4T 2006 1T
52 55 55 57 57 57 57 54 54
Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%)
9.22% 6.01 TNLP4 10.98% 19.36 TNLP4 8.32% 15.50 PETR4 9.23% 6.96 PETR4 9.61%
5.26% 3.49 PETR4 9.35% 6.15 PETR4 7.72% 8.01 TNLP4 8.12% 15.45 VALE5 7.86%
4.99% 11.75 VALE5 5.82% 7.76 VALE5 7.59% 10.85 VALE5 8.10% 9.35 USIM5 7.50%
4.60% 7.13 USIM5 3.90% 2.15 USIM5 5.77% 3.12 USIM5 5.59% 3.20 TNLP4 6.19%
3.35% 10.41 GGBR4 3.54% 3.20 CMET4 4.49% 14.72 CSNA3 4.23% 7.28 CSNA3 5.42%
3.12% -4.87 CMET4 3.53% 9.97 CSNA3 4.34% 6.68 CMET4 4.13% 7.60 CMET4 4.04%
3.11% 11.22 CSNA3 3.39% 4.60 GGBR4 4.12% 5.37 BBDC4 3.78% 12.03 GGBR4 3.89%
3.11% 4.16 EBTP4 3.31% -26.12 ELET6 3.77% -53.94 GGBR4 3.51% 6.29 BBDC4 3.83%
2.95% 9.63 ELET6 3.22% -20.90 BBDC4 3.16% 10.48 BRKM5 2.91% 10.04 ELET6 2.94%
2.95% 76.83 BBDC4 3.06% 9.25 ITAU4 2.40% 10.59 ITAU4 2.77% 11.99 ITAU4 2.87%
2.90% 12.91 CMIG4 2.84% 6.45 CMIG4 2.38% 7.12 ELET6 2.75% 22.95 VIVO4 2.36%
2.75% 6.85 ITAU4 2.69% 9.02 EBTP4 2.37% -182.29 CMIG4 2.33% 7.69 CMIG4 2.25%
2.71% 6.07 PETR3 2.66% 6.95 BRTO4 2.33% -463.55 BRTO4 2.21% -18.38 BRKM5 2.17%
2.64% 44.36 BRTO4 2.55% 31.30 BRKM5 2.31% 7.18 EBTP4 2.19% 38.55 VALE3 2.10%
2.16% 62.06 AMBV4 2.02% 45.34 VALE3 2.03% 12.37 VALE3 2.19% 10.66 PETR3 2.04%
1.84% 37.99 TSPP4 1.86% 9.84 PETR3 1.97% 9.04 NETC4 2.18% 33.67 BRTO4 1.96%
1.76% 8.16 NETC4 1.77% 19.51 NETC4 1.79% 36.81 PETR3 2.00% 7.72 NETC4 1.95%
1.71% 3.45 VALE3 1.65% 9.06 ELET3 1.75% -56.07 ITSA4 1.64% 10.18 ITSA4 1.88%
1.60% 9.44 BRKM5 1.60% 4.40 TSPP4 1.52% 8.36 UBBR11 1.56% 11.99 ARCE3 1.63%
1.49% 13.91 ELET3 1.51% -22.70 CPLE6 1.50% 12.36 ARCE3 1.49% 7.82 UBBR11 1.53%
1.49% 3.45 BRTP4 1.46% 31.30 CSTB4 1.41% 2.79 TSPP4 1.41% 9.31 ELET3 1.44%
1.44% 11.02 TNLP3 1.39% 26.88 ITSA4 1.39% 7.52 CPLE6 1.31% 9.80 CPLE6 1.38%
1.42% 8.88 EMBR4 1.39% 9.83 AMBV4 1.34% 42.05 ELET3 1.28% 22.02 EBTP4 1.33%
1.38% 29.65 ITSA4 1.33% 5.82 UBBR11 1.26% 10.59 AMBV4 1.25% 38.27 GOAU4 1.27%
1.34% 37.99 CPLE6 1.32% 9.16 GOAU4 1.18% 3.84 SDIA4 1.19% 22.88 BRAP4 1.19%
1.33% 13.40 TMAR5 1.28% 10.64 TMAR5 1.16% 9.52 TNLP3 1.18% 19.85 AMBV4 1.17%
1.29% -18.27 VCPA4 1.20% 20.50 VCPA4 1.15% 24.76 GOAU4 1.16% 4.74 TCSL4 1.16%
1.21% 5.89 ARCZ6 1.16% 20.50 SDIA4 1.14% 24.43 BRAP4 1.11% 8.14 BBAS3 1.14%
1.20% 15.50 TCSL4 1.16% 7.99 TNLP3 1.11% 21.34 VCPA4 1.08% 27.14 VCPA4 1.12%
1.13% -18.27 CSTB4 1.11% 2.39 BBAS3 1.10% 8.40 TMAR5 1.08% 8.94 ARCZ6 1.00%
1.02% 24.84 SBSP3 1.09% 4.21 BRAP4 1.05% 9.58 BBAS3 0.99% 8.24 SDIA4 0.98%
1.00% 24.84 ACES4 1.08% 2.39 BRTP4 1.04% -463.55 TCSL4 0.97% 11.94 SBSP3 0.95%
0.89% 6.76 UBBR11 1.07% 9.02 ACES4 1.04% 2.79 ARCZ6 0.94% 27.14 TNLP3 0.94%
0.80% 4.08 BBAS3 1.02% 7.16 TCSL4 1.03% 9.93 BRTP4 0.91% -18.38 TMAR5 0.88%
0.75% 7.11 GOAU4 0.94% 2.40 EMBR4 0.99% 15.70 SBSP3 0.86% 5.17 ACES4 0.85%
0.75% 13.97 CLSC6 0.94% 3.67 ARCZ6 0.96% 24.76 EMBR4 0.86% 18.18 CLSC6 0.85%
0.70% 1,163.00 BRAP4 0.82% 7.38 CLSC6 0.94% 5.44 ACES4 0.81% 3.16 BRTP4 0.74%
0.63% 11.22 TCOC4 0.81% -8.24 SBSP3 0.94% 4.91 CLSC6 0.79% 5.43 PTIP4 0.73%
0.61% 8.88 TMCP4 0.81% -8.24 TMCP4 0.68% -7.13 PTIP4 0.70% 8.83 TMCP4 0.66%
0.57% -18.27 ELPL4 0.71% 29.01 TCOC4 0.65% -7.13 TMCP4 0.64% -6.57 EMBR4 0.65%
0.54% 12.83 BRTP3 0.67% 48.35 PTIP4 0.58% 8.40 TCOC4 0.63% -6.57 CESP4 0.65%
0.50% 8.74 KLBN4 0.61% 8.38 CESP4 0.58% 2.96 BRTP3 0.60% -32.00 CRUZ3 0.64%
0.49% 6.87 TLPP4 0.60% 9.84 ELPL4 0.58% -22.80 CRUZ3 0.58% 12.78 KLBN4 0.56%
0.47% 12.75 EMBR3 0.58% 9.83 TRPL4 0.55% 8.40 KLBN4 0.54% 12.32 BRTP3 0.53%
0.47% -74.29 CESP4 0.57% 1.87 TLPP4 0.54% 8.36 TLPP4 0.53% 9.31 TLPP4 0.52%
0.45% 47.10 CRUZ3 0.55% 13.93 BRTP3 0.53% -853.10 ELPL4 0.49% -22.69 ELPL4 0.45%
0.43% 7.95 CRTP5 0.54% -8.24 CRUZ3 0.52% 13.56 TRPL4 0.49% 8.42 CGAS5 0.39%
0.39% 7.62 TRPL4 0.52% 7.84 KLBN4 0.49% 11.34 EMBR3 0.40% 18.18 TCSL3 0.39%
0.20% 9.52 PTIP4 0.43% 7.77 EMBR3 0.45% 15.70 CESP4 0.39% -7.19 EMBR3 0.39%
0.20% -20.50 TCSL3 0.40% 9.11 CGAS5 0.42% 10.76 CGAS5 0.39% 9.51 TRPL4 0.39%
0.19% -18.27 CGAS5 0.37% 9.60 CRTP5 0.41% -7.13 CRTP5 0.32% -6.57 LIGT3 0.25%
0.18% 5.23 LIGH3 0.25% -28.60 TCSL3 0.31% 12.54 TCSL3 0.32% 12.39 CTAX4 0.22%
TLCP4 0.24% -8.24 CTAX4 0.22% 11.37 LIGH3 0.28% 8.44 CMIG3 0.18%
CMIG3 0.22% 5.19 TLCP4 0.20% -7.13 CTAX4 0.25% 18.00 CTAX3 0.03%
TBLE3 0.13% 8.30 CMIG3 0.19% 5.64 CMIG3 0.19% 6.48
LIGH3 0.16% -60.58 TLCP4 0.16% -6.57
 CTAX3 0.04% 7.90 CTAX3 0.04% 13.31

0 0 0 0
2005 1T 2005 2T 2005 3T 2005 4T
7.61 9.19 8.93 11.30
 2006
2006 1T 2006 2T 2006 3T 2006 4T 2007 1T
54 54 56 56 58 58 58 58
P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L
7.49 VALE5 12.59% 9.48 PETR4 12.28% 6.18 PETR4 13.80% 8.38 PETR4 12.53% 8.62
10.44 PETR4 11.61% 6.85 VALE5 11.13% 7.81 VALE5 9.95% 9.91 VALE5 11.51% 9.69
5.63 USIM5 5.61% 5.61 TNLP4 5.02% 11.07 BBDC4 4.54% 17.14 USIM5 5.05% 7.98
14.08 TNLP4 5.32% 10.06 BBDC4 4.96% 14.65 USIM5 4.12% 7.25 BBDC4 4.29% 16.08
12.96 CSNA3 4.00% 12.67 USIM5 4.43% 4.77 TNLP4 3.58% 10.05 CSNA3 3.37% 14.88
7.94 BBDC4 3.99% 11.01 ITAU4 3.47% 11.97 ITAU4 3.31% 13.87 TNLP4 3.18% 7.73
7.78 GGBR4 3.17% 7.71 CSNA3 2.94% 11.72 GGBR4 2.65% 8.09 ITAU4 3.04% 13.32
13.01 ITAU4 2.99% 11.31 GGBR4 2.71% 6.88 CSNA3 2.52% 15.01 VALE3 2.85% 11.48
105.29 BRKM5 2.92% 40.99 VALE3 2.55% 9.07 PETR3 2.47% 9.17 GGBR4 2.81% 8.72
11.96 EBTP4 2.81% 22.18 BRKM5 2.33% 710.76 VALE3 2.45% 11.67 PETR3 2.30% 9.66
-14.04 VALE3 2.44% 11.24 NETC4 2.19% 28.40 CMIG4 2.11% 9.90 NETC4 2.13% 82.52
8.95 NETC4 2.31% 33.79 ELET6 2.16% 11.79 UBBR11 1.92% 13.87 CMIG4 1.97% 9.17
9.76 CMIG4 2.28% 9.15 PETR3 2.12% 6.91 NETC4 1.91% 86.60 BRKM5 1.84% 84.11
11.79 ELET6 2.22% 19.05 CMIG4 2.07% 8.49 VIVO4 1.89% 178.09 ITSA4 1.83% 6.54
8.09 PETR3 2.22% 7.68 VIVO4 2.04% -8.56 ELET6 1.86% 23.29 ARCE3 1.81% 12.44
-18.79 ARCE3 1.65% 32.25 UBBR11 1.96% 11.97 BRKM5 1.85% 71.46 TNLP3 1.73% 16.17
31.53 ITSA4 1.62% 8.91 EBTP4 1.76% -83.53 ITSA4 1.76% 6.15 ELET6 1.69% 16.47
11.16 BRTO4 1.61% -22.27 ITSA4 1.74% 5.79 CSAN3 1.75% 40.11 UBBR11 1.69% 13.32
32.53 UBBR11 1.55% 11.31 ARCE3 1.72% 12.99 TNLP3 1.64% 17.49 BRAP4 1.66% 11.80
11.96 VIVO4 1.53% -6.61 TNLP3 1.68% 24.97 ARCE3 1.62% 11.99 BBAS3 1.63% 10.77
107.05 SDIA4 1.40% 35.58 CPLE6 1.47% 5.96 BBAS3 1.60% 8.74 VIVO4 1.51% 52.27
9.98 CPLE6 1.35% 5.34 SDIA4 1.37% 61.58 BRAP4 1.41% 11.55 CSAN3 1.42% 21.13
18.33 EMBR3 1.32% 26.45 ELET3 1.35% 12.57 ELET3 1.40% 24.85 AMBV4 1.38% 26.16
5.63 AMBV4 1.28% 26.53 BRTO4 1.34% -49.65 TAMM4 1.31% 18.01 ALLL11 1.26% 353.40
10.05 BRAP4 1.25% 8.85 BRAP4 1.33% 8.46 AMBV4 1.31% 24.21 ELET3 1.22% 16.87
29.81 GOAU4 1.21% 5.73 AMBV4 1.31% 27.95 CPLE6 1.27% 5.51 SDIA4 1.20% 63.60
91.97 VCPA4 1.11% 34.24 BBAS3 1.30% 7.09 TCSL4 1.19% -60.70 CPLE6 1.19% 4.85
8.13 ELET3 1.09% 19.94 EMBR3 1.16% 25.36 ALLL11 1.15% 170.44 GOAU4 1.17% 6.82
33.91 ARCZ6 1.04% 34.24 GOAU4 1.08% 5.08 CCRO3 1.13% 21.25 EMBR3 1.16% 31.09
33.91 TNLP3 0.89% 21.32 TCSL4 1.05% -65.14 EMBR3 1.12% 27.65 BRTO4 1.10% 9.40
23.81 PRGA3 0.88% 35.58 CCRO3 0.97% 18.12 SDIA4 1.11% 101.96 CCRO3 1.07% 19.13
5.22 CCRO3 0.87% 13.51 VCPA4 0.93% 34.00 BRTO4 1.11% 14.21 TAMM4 1.06% 16.34
18.71 SBSP3 0.87% 6.54 PRGA3 0.92% 61.58 GOAU4 1.08% 6.11 TCSL4 1.04% -93.94
7.87 TCSL4 0.85% -110.50 ARCZ6 0.87% 34.00 GOLL4 1.05% 18.19 GOLL4 1.02% 20.02
4.31 BBAS3 0.85% 6.80 TMAR5 0.87% 7.01 PRGA3 1.04% 101.96 SUBA3 0.98% 325.94
5.57 TMAR5 0.81% 6.33 TAMM4 0.85% 21.30 NATU3 1.03% 27.51 PRGA3 0.94% 63.60
-18.79 CLSC6 0.80% 4.67 SBSP3 0.83% 8.35 SUBA3 0.90% 690.30 NATU3 0.78% 21.48
11.82 BRTP4 0.73% -22.27 NATU3 0.71% 23.60 ARCZ6 0.89% 33.92 VCPA4 0.76% 28.95
-14.04 PTIP4 0.65% 10.66 LIGT3 0.71% -7.34 VCPA4 0.86% 33.92 LIGT3 0.75% -16.16
25.49 LIGT3 0.61% 50.16 BRTP4 0.69% -49.65 PCAR4 0.82% 99.73 ARCZ6 0.71% 28.95
59.52 KLBN4 0.58% 13.25 PCAR4 0.69% 52.24 SBSP3 0.75% 10.71 SBSP3 0.69% 10.59
15.67 BRTP3 0.58% -58.25 ALLL11 0.67% 59.71 CYRE3 0.73% 29.83 BRTP4 0.68% 9.40
12.77 ACES4 0.54% 5.58 CLSC6 0.62% 4.98 LIGT3 0.72% -15.71 CESP6 0.68% -54.46
-35.00 TRPL4 0.54% 7.33 KLBN4 0.60% 10.90 BRTP4 0.67% 14.21 CYRE3 0.66% 28.04
9.99 TMCP4 0.51% -6.61 BRTP3 0.58% -118.40 TMAR5 0.67% 7.27 PCAR4 0.64% 111.35
-30.36 CRUZ3 0.51% 13.58 TMCP4 0.56% -8.56 CESP6 0.63% -69.17 CRUZ3 0.60% 13.43
9.96 TLPP4 0.50% 8.49 CRUZ3 0.55% 13.25 KLBN4 0.56% 10.37 KLBN4 0.59% 10.98
98.18 ELPL4 0.44% -48.61 PTIP4 0.51% 11.09 CRUZ3 0.54% 14.14 TMAR5 0.57% 5.87
25.49 CGAS5 0.39% 8.47 CESP6 0.47% -14.83 ELPL6 0.52% 12.21 BRTP3 0.55% 25.36
7.90 CESP4 0.34% -4.94 TRPL4 0.45% 6.91 CLSC6 0.51% 6.18 PTIP4 0.54% 18.87
19.72 TCSL3 0.32% -149.42 TLPP4 0.40% 8.78 TCSL3 0.49% -102.56 CLSC6 0.49% 4.49
16.76 CMIG3 0.21% 8.13 TCSL3 0.40% -102.22 BRTP3 0.47% 36.13 ELPL6 0.44% 7.82
7.23 CTAX4 0.18% 15.16 ACES4 0.37% 6.10 TMCP4 0.47% 178.09 TMCP4 0.44% 52.27
12.57 CTAX3 0.03% 9.14 ELPL6 0.34% 12.33 PTIP4 0.42% 13.82 TCSL3 0.40% -149.32
CGAS5 0.32% 8.67 TRPL4 0.42% 38.16 TRPL4 0.40% 16.21
CMIG3 0.15% 7.38 TLPP4 0.36% 9.89 ACES4 0.34% 6.96
 CGAS5 0.30% 9.92 TLPP4 0.34% 9.13
ACES4 0.26% 6.01 CGAS5 0.34% 11.83

0 0 0 0 0
2006 1T 2006 2T 2006 3T 2006 4T 2007 1T
10.45 11.32 9.31 10.90 10.52
 2007
2007 2T 2007 3T 2007 4T 2008 1T
59 59 63 63 64 64 64 64
Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L
PETR4 14.43% 9.75 PETR4 14.03% 11.75 PETR4 13.55% 17.61 VALE5 12.60% 14.56
VALE5 9.20% 9.75 VALE5 12.11% 13.54 VALE5 12.02% 12.48 PETR4 11.93% 13.28
USIM5 4.16% 8.51 BBDC4 3.89% 14.41 BBDC4 3.90% 14.37 USIM5 4.11% 10.40
BBDC4 4.07% 15.79 USIM5 3.38% 9.74 USIM5 3.22% 8.64 BBDC4 3.59% 11.88
ITAU4 3.17% 15.10 VALE3 3.14% 16.07 VALE3 3.14% 14.58 VALE3 3.36% 17.34
TNLP4 3.00% 8.87 ITAU4 2.77% 14.73 ITAU4 2.92% 14.14 CSNA3 3.08% 17.21
GGBR4 2.89% 12.01 PETR3 2.53% 13.76 GGBR4 2.59% 15.16 GGBR4 2.85% 14.94
PETR3 2.55% 11.10 CSNA3 2.39% 13.87 UBBR11 2.59% 14.14 ITAU4 2.74% 12.20
VALE3 2.48% 11.60 GGBR4 2.29% 12.36 CSNA3 2.47% 14.76 TNLP4 2.55% 7.48
CSNA3 2.47% 12.17 UBBR11 2.28% 14.73 PETR3 2.45% 20.91 UBBR11 2.31% 12.20
UBBR11 1.98% 15.10 ALLL11 2.06% 80.92 ITSA4 2.36% 10.67 ITSA4 2.22% 9.31
CMIG4 1.97% 10.11 ITSA4 2.04% 10.60 ALLL11 1.99% 61.68 PETR3 2.20% 16.09
ITSA4 1.94% 7.69 TNLP4 1.95% 8.14 BBAS3 1.89% 14.88 CSAN3 2.01% -170.57
ELET6 1.90% 34.84 CSAN3 1.92% 20.63 TNLP4 1.78% 5.83 CMIG4 1.79% 8.42
BBAS3 1.88% 14.91 TAMM4 1.75% 35.33 NETC4 1.77% 41.72 ALLL11 1.60% 40.26
TAMM4 1.79% 25.56 BBAS3 1.70% 15.03 CMIG4 1.76% 9.11 NETC4 1.60% 34.99
NETC4 1.71% 132.07 CMIG4 1.69% 9.15 GOLL4 1.57% 32.97 BRAP4 1.59% 17.69
ALLL11 1.70% 905.01 BRAP4 1.67% 17.38 CSAN3 1.53% 65.47 BBAS3 1.52% 9.80
TNLP3 1.64% 18.45 NETC4 1.63% 93.86 BRAP4 1.52% 15.34 ELET6 1.37% 13.20
ELET3 1.57% 35.46 GOLL4 1.56% 18.29 TAMM4 1.47% 49.83 NATU3 1.36% 16.69
BRAP4 1.44% 12.90 ELET6 1.45% 118.71 CYRE3 1.29% 20.39 AMBV4 1.35% 28.28
GOLL4 1.43% 19.14 BTOW3 1.42% 195.13 AMBV4 1.26% 28.52 CYRE3 1.29% 18.13
VIVO4 1.42% 24.05 CYRE3 1.37% 21.60 CESP6 1.25% 79.64 BRKM5 1.27% 12.46
BRKM5 1.39% 16.28 ELET3 1.24% 124.25 BTOW3 1.24% 129.35 ELET3 1.23% 14.04
CSAN3 1.34% 16.74 NATU3 1.23% 21.11 NATU3 1.19% 15.96 TAMM4 1.22% 70.43
AMBV4 1.33% 30.70 TCSL4 1.22% -673.97 ELET6 1.19% 16.75 TCSL4 1.15% -1,072.00
NATU3 1.32% 25.87 AMBV4 1.19% 29.42 TCSL4 1.17% 186.48 VIVO4 1.14% 511.99
CPLE6 1.30% 8.87 BRKM5 1.16% 13.13 BRKM5 1.12% 11.91 BTOW3 1.08% 103.68
PRGA3 1.22% 53.18 VIVO4 1.08% 16.41 PRGA3 1.12% 59.30 LREN3 1.08% 24.21
SUBA3 1.18% 257.85 CCRO3 1.08% 21.86 LREN3 1.12% 28.08 PRGA3 1.07% 56.23
GOAU4 1.16% 9.76 PRGA3 1.07% 45.71 ELET3 1.05% 17.46 SDIA4 1.06% 56.23
CCRO3 1.14% 23.00 CESP6 1.04% 112.51 CCRO3 1.01% 19.00 CPLE6 1.05% 7.28
CYRE3 1.03% 24.10 TNLP3 0.97% 11.96 VIVO4 1.00% -171.92 CCRO3 1.02% 17.28
TCSL4 1.01% 133.62 ARCZ6 0.93% 33.53 SDIA4 0.97% 59.30 GOLL4 0.98% 51.32
ARCZ6 1.00% 32.18 LREN3 0.90% 33.51 ARCZ6 0.95% 33.28 BRTO4 0.97% 11.97
BRTO4 0.99% 11.30 SDIA4 0.87% 45.71 CPLE6 0.93% 6.63 GOAU4 0.96% 12.43
EMBR3 0.92% 37.35 BRTO4 0.86% 11.55 EMBR3 0.89% 25.16 CPFE3 0.94% 11.74
SDIA4 0.91% 53.18 ELPL6 0.85% 6.36 GFSA3 0.89% 38.73 ARCZ6 0.93% 33.32
CPFE3 0.89% 11.38 CPLE6 0.85% 7.26 LAME4 0.88% 113.89 CESP6 0.87% 45.59
PCAR4 0.87% 178.38 GOAU4 0.84% 9.80 GOAU4 0.88% 12.51 TNLP3 0.86% 9.72
LREN3 0.84% 36.87 EMBR3 0.82% 23.79 ELPL6 0.85% 8.54 ELPL6 0.85% 8.28
CESP6 0.84% 462.00 VCPA4 0.82% 33.53 BRTO4 0.84% 12.84 PCAR4 0.85% 38.96
VCPA4 0.83% 32.18 CPFE3 0.80% 10.55 CPFE3 0.82% 9.83 EMBR3 0.82% 21.01
SBSP3 0.79% 11.08 GFSA3 0.78% 62.53 TNLP3 0.80% 9.99 GFSA3 0.81% 22.92
ELPL6 0.68% 8.14 LAME4 0.77% 182.65 DURA4 0.78% 28.63 LAME4 0.78% 107.59
BRTP4 0.66% 11.30 KLBN4 0.67% 9.73 PCAR4 0.77% 36.87 VCPA4 0.73% 33.32
KLBN4 0.58% 10.67 PCAR4 0.66% 50.64 VCPA4 0.76% 33.28 BRTP4 0.67% 11.97
TMAR5 0.56% 6.79 DURA4 0.65% 51.36 BRTP4 0.68% 12.84 DURA4 0.63% 18.65
TCSL3 0.54% 215.36 BRTP4 0.62% 11.55 SBSP3 0.61% 8.94 SBSP3 0.60% 8.30
CRUZ3 0.52% 13.35 SBSP3 0.59% 9.96 KLBN4 0.58% 9.76 CRUZ3 0.55% 15.60
BRTP3 0.49% 27.27 TCSL3 0.56% -997.45 BNCA3 0.57% 14.88 KLBN4 0.55% 9.98
LIGT3 0.48% 12.26 CRUZ3 0.55% 14.20 CRUZ3 0.54% 16.23 BNCA3 0.54% 9.80
TRPL4 0.44% 19.07 LIGT3 0.48% 6.41 TCSL3 0.46% 257.64 TRPL4 0.44% 7.17
CLSC6 0.41% 5.08 BRTP3 0.42% 21.93 LIGT3 0.39% 5.41 TMAR5 0.42% 7.65
TMCP4 0.37% 24.05 TRPL4 0.37% 19.57 TRPL4 0.38% 6.75 TCSL3 0.42% -1,370.00
TLPP4 0.36% 11.64 PTIP4 0.33% 39.15 BRTP3 0.36% 21.88 BRTP3 0.41% 24.80
PTIP4 0.35% 24.73 TMAR5 0.31% 6.90 TMAR5 0.30% 6.15 LIGT3 0.33% 4.15
CGAS5 0.26% 12.66 CLSC6 0.31% 5.93 TLPP4 0.29% 9.68 TLPP4 0.31% 9.97
ACES4 0.18% 5.59 TLPP4 0.27% 12.38 PTIP4 0.27% 47.14 UGPA4 0.30% 35.77
TMCP4 0.27% 16.41 CLSC6 0.26% 4.74 CLSC6 0.28% 5.74
CGAS5 0.23% 12.08 TMCP4 0.24% -171.92 CGAS5 0.27% 11.21
ACES4 0.17% 6.37 CGAS5 0.23% 10.62 TMCP4 0.27% 511.99
CCPR3 0.13% 82.06 ACES4 0.15% 8.53 ACES4 0.16% 8.75
CCPR3 0.13% 54.87 CCPR3 0.11% 31.83

0 0 0 0
2007 2T 2007 3T 2007 4T 2008 1T
13.31 12.57 13.36 12.78
 2008
2008 2T 2008 3T 2008 4T 2009 1T 2009 2T
66 66 66 66 66 66 65 65 64
Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo
PETR4 16.17% 15.62 PETR4 17.39% 9.73 PETR4 16.72% 5.50 PETR4 19.17% 6.98 PETR4
VALE5 11.85% 14.76 VALE5 12.23% 7.41 VALE5 11.88% 6.02 VALE5 12.21% 6.47 VALE5
BBDC4 3.48% 12.49 BBDC4 4.12% 11.57 BVMF3 4.36% 19.06 ITAU4 5.41% 5.21 ITUB4
GGBR4 3.18% 17.21 ITAU4 3.72% 13.02 BBDC4 3.70% 9.10 BVMF3 4.73% 16.47 BVMF3
USIM5 3.11% 12.31 PETR3 3.14% 11.71 ITAU4 3.47% 5.36 CSNA3 3.98% 6.47 GGBR4
PETR3 3.08% 19.08 VALE3 3.09% 8.29 CSNA3 3.45% 4.92 PETR3 3.61% 8.65 BBDC4
VALE3 3.06% 17.77 BVMF3 3.03% 32.77 VALE3 3.27% 6.98 BBDC4 3.48% 9.79 USIM5
CSNA3 2.84% 19.18 UBBR11 2.76% 13.02 GGBR4 3.10% 7.48 VALE3 3.36% 7.50 CSNA3
ITAU4 2.84% 12.29 CSNA3 2.65% 14.21 PETR3 3.06% 6.61 USIM5 3.17% 6.11 PETR3
UBBR11 2.40% 12.29 BBAS3 2.64% 8.25 USIM5 3.05% 4.14 BBAS3 2.62% 5.34 VALE3
ITSA4 2.37% 11.38 ITSA4 2.60% 11.25 UBBR11 2.42% 5.36 GGBR4 2.44% 8.55 BBAS3
BBAS3 2.28% 10.11 USIM5 2.42% 6.09 BBAS3 2.40% 4.28 ITSA4 2.14% 4.42 ITSA4
CMIG4 2.12% 9.95 GGBR4 2.23% 9.16 ITSA4 2.24% 4.52 CMIG4 1.64% 9.88 CMIG4
CESP6 2.01% 41.69 CMIG4 1.94% 9.78 CMIG4 1.64% 8.36 BRAP4 1.30% 6.86 CYRE3
ALLL11 1.73% 38.68 CYRE3 1.34% 18.81 ALLL11 1.42% 27.29 ALLL11 1.28% 34.19 ALLL11
TNLP4 1.68% 7.08 AMBV4 1.32% 20.01 CYRE3 1.26% 11.78 CYRE3 1.15% 11.17 SDIA4
NETC4 1.45% 33.38 TNLP4 1.25% 6.93 CESP6 1.21% -2.10 LAME4 1.15% 57.78 RDCD3
BRAP4 1.32% 17.54 BRAP4 1.23% 6.96 LAME4 1.20% 53.02 TNLP4 1.13% 20.33 GOAU4
BTOW3 1.27% 95.38 NETC4 1.21% 60.18 BRAP4 1.20% 5.96 NETC4 1.12% -128.15 AMBV4
ELET6 1.21% 12.01 LAME4 1.15% 77.98 SDIA4 1.14% 167.53 AMBV4 1.12% 17.44 BRAP4
ELET3 1.17% 13.65 GFSA3 1.14% 15.81 AMBV4 1.12% 20.37 RDCD3 0.96% 15.29 ARCZ6
PRGA3 1.09% 60.42 ALLL11 1.13% 32.18 TNLP4 1.09% 11.46 CESP6 0.96% -1.88 LAME4
CYRE3 1.07% 20.38 TAMM4 1.02% -535.89 ELET3 0.95% 4.78 GFSA3 0.95% 7.15 CESP6
LAME4 1.04% 106.17 TCSL4 1.01% 131.19 ELET6 0.95% 4.46 ELET6 0.91% 5.26 ELET3
AMBV4 1.03% 21.70 ELET6 1.00% 5.75 NETC4 0.95% -47.38 SDIA4 0.88% -58.41 PRGA3
CSAN3 1.01% -70.17 PRGA3 1.00% 83.21 RDCD3 0.93% 14.46 ELET3 0.87% 5.44 GOLL4
GOAU4 1.00% 15.15 CESP6 0.96% 58.35 GFSA3 0.93% 6.30 ELPL6 0.81% 5.34 ELET6
SDIA4 0.98% 60.42 ELET3 0.94% 6.76 GOAU4 0.92% 6.69 PRGA3 0.79% -58.41 USIM3
TAMM4 0.94% 30.22 GOLL4 0.91% -3.04 BTOW3 0.90% 34.89 BTOW3 0.76% 34.74 LREN3
CPLE6 0.93% 7.47 BTOW3 0.89% 63.81 PRGA3 0.89% 167.53 VIVO4 0.74% 26.45 ELPL6
LREN3 0.91% 22.49 LREN3 0.86% 17.00 LREN3 0.86% 11.73 NATU3 0.72% 16.57 TNLP4
ELPL6 0.88% 11.29 RDCD3 0.84% 15.94 ARCZ6 0.78% -7.10 LREN3 0.72% 11.86 GFSA3
GOLL4 0.88% -13.38 NATU3 0.79% 15.28 TCSL4 0.76% 38.38 GOAU4 0.71% 7.51 TAMM4
DURA4 0.84% 17.25 EMBR3 0.77% 28.50 GOLL4 0.74% -1.62 TCSL4 0.68% 47.02 NETC4
TCSL4 0.84% -132.90 VIVO4 0.77% 57.22 VIVO4 0.72% 26.02 JBSS3 0.64% -26.02 BTOW3
CCRO3 0.82% 20.60 CPLE6 0.75% 5.96 TAMM4 0.71% -2.11 CPLE6 0.60% 6.02 VIVO4
BRKM5 0.81% 10.67 GOAU4 0.70% 8.61 ELPL6 0.69% 4.15 USIM3 0.59% 5.49 TCSL4
NATU3 0.79% 14.81 ELPL6 0.68% 8.78 JBSS3 0.66% 273.32 DURA4 0.54% 7.14 JBSS3
ARCZ6 0.79% 31.89 PCAR4 0.68% 26.62 EMBR3 0.66% 15.93 EMBR3 0.53% 14.80 CCRO3
GFSA3 0.79% 18.86 BRKM5 0.65% -15.08 CPLE6 0.65% 6.09 CPFE3 0.52% 11.76 CPLE6
VIVO4 0.77% 198.97 CPFE3 0.65% 12.98 NATU3 0.64% 15.50 RSID3 0.51% 5.60 VCPA4
BNCA3 0.73% 10.11 DURA4 0.64% 8.86 USIM3 0.62% 4.03 PCAR4 0.51% 22.84 NATU3
BRTP4 0.69% 9.23 ARCZ6 0.64% -110.82 VCPA4 0.62% -7.10 CCRO3 0.49% 11.97 EMBR3
PCAR4 0.69% 32.90 CCRO3 0.64% 15.25 CCRO3 0.61% 13.35 CSAN3 0.47% -6.68 RSID3
BRTO4 0.69% 9.23 VCPA4 0.63% -110.82 CSAN3 0.60% -7.84 CRUZ3 0.46% 9.67 CRUZ3
CPFE3 0.62% 12.42 SDIA4 0.62% 83.21 RSID3 0.57% 6.12 GOLL4 0.45% -1.21 PCAR4
TNLP3 0.60% 8.15 CRUZ3 0.56% 14.05 PCAR4 0.55% 28.00 UGPA4 0.45% 19.35 CSAN3
VCPA4 0.60% 31.89 TNLP3 0.55% 8.32 DURA4 0.55% 5.47 ARCZ6 0.44% -3.89 DURA4
JBSS3 0.59% -19.90 JBSS3 0.47% 36.49 BRKM5 0.54% -1.12 BRKM5 0.43% -0.95 BRKM5
SBSP3 0.56% 8.31 BRTO4 0.45% 8.39 CPFE3 0.52% 11.34 TAMM4 0.43% -1.46 CPFE3
CRUZ3 0.54% 17.12 BRTP4 0.45% 8.39 CRUZ3 0.49% 11.12 TNLP3 0.41% 23.77 UGPA4
UGPA4 0.53% 27.82 USIM3 0.43% 5.76 BRTP4 0.44% 7.43 TRPL4 0.40% 8.69 TRPL4
USIM3 0.52% 11.80 CSAN3 0.41% -6.70 UGPA4 0.44% 17.72 BRTP4 0.39% 11.51 BNCA3
EMBR3 0.51% 10.97 TRPL4 0.41% 7.93 BRTO4 0.42% 7.43 BNCA3 0.38% 5.34 SBSP3
KLBN4 0.46% 10.96 BNCA3 0.40% 8.25 TNLP3 0.42% 13.77 BRTO4 0.36% 11.51 BRTO4
TRPL4 0.44% 8.74 UGPA4 0.39% 17.47 SBSP3 0.40% 7.33 SBSP3 0.35% 7.21 KLBN4
 RSID3 0.41% 15.00 KLBN4 0.36% 51.29 BNCA3 0.40% 4.28 VCPA4 0.34% -3.89 BRTP4
BRTP3 0.35% 25.65 RSID3 0.35% 6.18 TRPL4 0.37% 7.58 KLBN4 0.28% -6.59 TMAR5
TLPP4 0.29% 9.91 SBSP3 0.35% 6.17 KLBN4 0.36% -8.71 BRTP3 0.27% 52.94 TNLP3
TCSL3 0.27% -174.29 BRTP3 0.32% 24.78 TMAR5 0.30% 8.71 TMAR5 0.26% 13.27 LIGT3
LIGT3 0.27% 5.48 TCSL3 0.31% 232.49 BRTP3 0.28% 30.23 TCSL3 0.22% 95.99 TLPP4
TMAR5 0.25% 7.87 LIGT3 0.27% 5.12 LIGT3 0.20% 4.47 LIGT3 0.21% 4.26 TCSL3
CLSC6 0.20% 5.20 TMAR5 0.25% 6.04 TCSL3 0.20% 63.88 TLPP4 0.19% 10.11 CGAS5
CGAS5 0.19% 11.38 TLPP4 0.21% 9.57 TLPP4 0.19% 9.56 CLSC6 0.10% 6.93 CLSC6
TMCP4 0.11% 198.97 CLSC6 0.15% 4.57 CLSC6 0.12% 5.21 CGAS5 0.09% 7.32
CCPR3 0.10% 25.90 CGAS5 0.15% 9.60 CGAS5 0.11% 7.71

0 0 0 0
2008 2T 2008 3T 2008 4T 2009 1T
14.15 10.24 7.75 8.22
 2009 2010
2009 2T 2009 3T 2009 4T 2010 1T 2010 2T
64 63 63 63 63 63 63 65
Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo
16.80% 8.04 PETR4 15.42% 9.92 PETR4 12.56% 10.75 VALE5 13.35% 26.41 VALE5
10.97% 8.40 VALE5 12.37% 20.37 VALE5 11.67% 21.90 PETR4 11.80% 9.86 PETR4
5.57% 6.35 ITUB4 5.71% 8.09 ITUB4 4.71% 22.95 ITUB4 4.70% 22.06 BVMF3
5.23% 32.92 BVMF3 4.60% 34.39 BVMF3 4.35% 28.42 BVMF3 4.18% 26.22 ITUB4
4.25% 45.52 BBDC4 4.08% 14.55 GGBR4 3.79% 37.18 USIM5 3.70% 17.48 BBDC4
3.79% 11.81 GGBR4 3.62% 59.93 BBDC4 3.66% 14.15 GGBR4 3.66% 27.00 GGBR4
3.59% 10.79 VALE3 3.59% 22.92 VALE3 3.24% 25.69 VALE3 3.64% 30.46 ITSA4
3.42% 8.27 PETR3 3.34% 11.58 PETR3 3.15% 12.20 BBDC4 3.55% 13.37 OGXP3
3.35% 9.94 CSNA3 3.09% 7.54 USIM5 3.07% 19.67 CSNA3 3.43% 19.56 USIM5
3.04% 9.71 USIM5 3.01% 15.62 CSNA3 2.77% 16.15 PETR3 2.93% 11.06 VALE3
2.50% 6.16 ITSA4 2.51% 7.03 ITSA4 2.57% 11.81 ITSA4 2.63% 12.02 PDGR3
2.18% 5.49 BBAS3 2.35% 8.98 FIBR3 2.27% 9.48 BRFS3 2.20% 50.17 PETR3
1.52% 10.08 PRGA3 2.29% 265.80 BBAS3 2.18% 7.52 BBAS3 2.18% 7.05 CSNA3
1.38% 16.58 RDCD3 1.54% 13.36 BRFS3 2.14% 160.89 FIBR3 2.17% 9.22 CYRE3
1.31% 57.57 CMIG4 1.53% 10.01 RDCD3 1.86% 14.00 RDCD3 2.05% 15.48 BBAS3
1.22% -100.87 ALLL11 1.31% 85.81 CYRE3 1.64% 14.19 CMIG4 1.41% 8.26 BRFS3
1.18% 15.35 ARCZ6 1.29% -46.25 CMIG4 1.55% 9.19 MMXM3 1.40% -54.23 CIEL3
1.10% 41.27 CYRE3 1.24% 16.28 ALLL11 1.41% 322.50 ALLL11 1.37% 149.63 GFSA3
1.05% 16.53 BRAP4 1.09% 13.87 GFSA3 1.32% 46.38 CYRE3 1.37% 11.08 FIBR3
1.04% 6.70 GFSA3 1.05% 14.49 MMXM3 1.07% -20.35 BRAP4 1.12% 15.73 RDCD3
1.01% -10.42 TNLP4 1.01% 265.59 LAME4 1.03% 77.74 GFSA3 1.12% 39.70 ALLL11
1.01% 65.52 AMBV4 0.99% 17.38 BRAP4 1.01% 14.00 LREN3 0.97% 23.06 LREN3
0.97% -3.88 LAME4 0.95% 91.44 TNLP4 1.00% 3.40 GOAU4 0.95% 28.07 CMIG4
0.94% 10.26 GOAU4 0.91% 44.50 ELET3 0.96% 45.15 EMBR3 0.95% 8.52 RSID3
0.88% -100.87 ELET3 0.90% 20.80 LREN3 0.96% 25.26 ELET3 0.95% 19.16 MRVE3
0.86% -4.51 MMXM3 0.89% -4.76 GOAU4 0.94% 38.55 USIM3 0.89% 17.88 LAME4
0.83% 9.13 ELET6 0.88% 18.76 RSID3 0.92% 20.03 ELET6 0.88% 23.30 MMXM3
0.82% 10.75 TCSL4 0.85% 53.24 AMBV4 0.92% 17.99 LAME4 0.86% 51.89 GOLL4
0.81% 17.84 LREN3 0.85% 25.83 GOLL4 0.90% 7.77 AMBV4 0.84% 16.50 LLXL3
0.80% 5.92 CESP6 0.81% -5.56 ELET6 0.89% 39.41 CESP6 0.83% 19.21 JBSS3
0.80% 52.94 NETC4 0.77% 19.31 EMBR3 0.88% 7.72 NETC4 0.83% 11.41 NATU3
0.79% 10.14 NATU3 0.73% 21.36 NETC4 0.87% 11.18 TCSL4 0.83% 22.56 EMBR3
0.78% -5.41 VIVO4 0.72% 20.51 TCSL4 0.87% 31.13 TNLP4 0.83% 2.60 ELET3
0.76% 115.46 JBSS3 0.69% -44.88 OGXP3 0.87% -549.24 OGXP3 0.82% -281.29 AMBV4
0.76% 60.70 ELPL6 0.68% 5.67 CESP6 0.84% 16.45 NATU3 0.78% 22.66 TCSL4
0.75% 21.01 EMBR3 0.68% 7.76 VIVO4 0.79% 25.66 GOLL4 0.77% 6.88 TNLP4
0.71% 50.17 CPLE6 0.66% 8.36 NATU3 0.78% 22.84 ELPL6 0.75% 5.60 TAMM4
0.71% 40.92 GOLL4 0.66% 1,300.00 USIM3 0.74% 19.95 RSID3 0.73% 13.79 CESP6
0.65% 16.98 RSID3 0.66% 18.58 LLXL3 0.73% -127.70 VIVO4 0.71% 21.06 CSAN3
0.64% 7.27 USIM3 0.65% 15.15 TAMM4 0.72% 4.62 CCRO3 0.62% 25.50 BRAP4
0.61% -10.42 BTOW3 0.65% 107.44 JBSS3 0.70% 100.24 CPLE6 0.62% 13.40 NETC4
0.61% 18.29 VCPA3 0.63% -46.25 BTOW3 0.70% 106.73 LLXL3 0.59% -133.43 GOAU4
0.58% 8.76 TAMM4 0.57% -34.12 ELPL6 0.68% 4.99 JBSS3 0.59% 29.31 ELET6
0.57% 12.38 PCAR5 0.57% 26.57 MRVE3 0.68% 19.54 MRVE3 0.58% 14.43 ECOD3
0.56% 10.52 CRUZ3 0.54% 12.16 PDGR3 0.68% 20.01 CRUZ3 0.57% 13.71 ELPL6
0.54% 23.11 CCRO3 0.53% 17.17 CSAN3 0.65% 16.32 PDGR3 0.56% 14.05 CCRO3
0.51% -68.41 UGPA4 0.48% 24.45 CCRO3 0.64% 25.01 TAMM4 0.56% 4.08 VIVO4
0.50% 22.77 CPFE3 0.48% 12.81 CPLE6 0.64% 12.80 BTOW3 0.55% 80.55 PCAR5
0.48% -2.08 CSAN3 0.47% 15.33 PCAR5 0.61% 25.70 PCAR5 0.55% 22.36 DTEX3
0.47% 12.26 BRKM5 0.45% -18.92 CPFE3 0.53% 10.23 CPFE3 0.54% 9.62 CPLE6
0.43% 22.21 KLBN4 0.40% 22.62 CRUZ3 0.53% 11.92 CSAN3 0.54% 8.93 USIM3
0.39% 8.30 DURA4 0.39% 273.43 DTEX3 0.52% 41.38 UGPA4 0.54% 24.90 BTOW3
0.37% 6.16 BRTO4 0.38% -8.84 UGPA4 0.51% 25.16 DTEX3 0.48% 29.12 BRKM5
0.36% 7.19 SBSP3 0.37% 8.78 BRKM5 0.51% 18.41 BRKM5 0.46% 25.70 CPFE3
0.33% -6.48 TRPL4 0.37% 8.79 LIGT3 0.45% 9.00 LIGT3 0.45% 9.07 CRUZ3
0.31% -10.33 BRTP4 0.34% -8.84 KLBN4 0.42% 28.87 KLBN4 0.42% 27.67 UGPA4
0.29% -6.48 TNLP3 0.31% 317.12 BRTO4 0.40% -9.89 SBSP3 0.35% 4.69 LIGT3
0.27% 33.55 TMAR5 0.30% 348.30 SBSP3 0.39% 5.20 TRPL4 0.30% 8.46 BRTO4
0.26% 62.58 LIGT3 0.30% 7.83 TRPL4 0.33% 9.05 BRTO4 0.27% -10.72 KLBN4
0.23% 7.01 TLPP4 0.20% 9.67 TMAR5 0.27% 2.85 TMAR5 0.21% 2.06 SBSP3
0.17% 9.56 TCSL3 0.15% 70.87 TNLP3 0.25% 4.10 TNLP3 0.21% 3.15 TRPL4
0.15% 96.60 CLSC6 0.09% 13.66 TLPP4 0.19% 10.00 TLPP4 0.17% 9.12 TNLP3
0.11% 9.37 CGAS5 0.09% 10.76 TCSL3 0.14% 51.85 TCSL3 0.14% 31.77 TMAR5
0.11% 10.81 TLPP4
TCSL3

0 0 0 0
2009 2T 2009 3T 2009 4T 2010 1T
8.93 12.19 15.81 16.71
 2010 2011
2010 2T 2010 3T 2010 4T 2011 1T 2011 2T
65 68 68 68 68 69 69 68
Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo
9.75% 13.35 VALE5 11.25% 10.90 VALE5 12.12% 8.65 VALE5 11.75% 6.57 PETR4
9.10% 7.40 PETR4 9.64% 10.48 PETR4 9.69% 10.16 PETR4 10.33% 9.74 VALE5
4.82% 22.45 BVMF3 4.01% 26.22 ITUB4 3.77% 17.71 OGXP3 4.35% -296.54 OGXP3
4.07% 17.16 ITUB4 3.75% 19.57 BVMF3 3.73% 23.48 ITUB4 3.62% 16.72 ITUB4
3.49% 11.31 OGXP3 3.65% -467.91 OGXP3 3.37% -523.69 BVMF3 3.47% 21.42 BVMF3
3.08% 14.35 BBDC4 2.93% 13.85 VALE3 3.01% 9.87 GGBR4 2.95% 15.09 BBDC4
2.68% 10.21 GGBR4 2.84% 14.16 BBDC4 2.93% 12.26 VALE3 2.89% 7.40 BBAS3
2.60% 3,536.00 VALE3 2.79% 12.32 GGBR4 2.85% 16.05 PETR3 2.84% 11.14 GGBR4
2.54% 13.76 USIM5 2.66% 12.53 PDGR3 2.67% 14.24 BBDC4 2.83% 12.01 PETR3
2.50% 15.37 PDGR3 2.61% 16.29 BBAS3 2.57% 7.64 USIM5 2.82% 16.96 VALE3
2.50% 15.37 BBAS3 2.56% 7.72 PETR3 2.53% 11.37 BBAS3 2.70% 6.88 PDGR3
2.39% 8.54 PETR3 2.54% 11.67 USIM5 2.27% 12.36 PDGR3 2.38% 11.37 USIM5
2.33% 15.20 CSNA3 2.43% 21.26 ITSA4 2.26% 13.07 CSNA3 2.31% 14.74 ITSA4
2.14% 10.14 ITSA4 2.16% 11.66 CSNA3 2.23% 15.72 ITSA4 1.95% 12.03 CYRE3
2.05% 5.62 CYRE3 2.02% 13.96 CYRE3 1.77% 15.40 CYRE3 1.74% 13.09 MRVE3
2.04% 48.65 CIEL3 1.60% 11.02 BRFS3 1.57% 29.67 GFSA3 1.46% 28.49 GFSA3
1.86% 11.97 FIBR3 1.60% 3.62 CIEL3 1.47% 10.03 FIBR3 1.35% 12.60 CSNA3
1.81% 27.39 GFSA3 1.58% 25.34 GFSA3 1.46% 12.49 CIEL3 1.34% 10.41 HYPE3
1.64% 8.00 RDCD3 1.47% 12.16 FIBR3 1.43% 20.69 MRVE3 1.32% 9.39 BRFS3
1.58% 11.74 BRFS3 1.41% 55.78 MMXM3 1.21% 114.03 MMXM3 1.31% 32.26 CIEL3
1.45% 64.59 MMXM3 1.37% -82.64 MRVE3 1.20% 11.87 BRFS3 1.26% 23.88 AMBV4
1.38% 23.08 MRVE3 1.18% 12.82 RDCD3 1.17% 10.12 RDCD3 1.23% 10.81 MMXM3
1.29% 9.00 ALLL11 1.18% 72.42 CMIG4 1.13% 8.07 JBSS3 1.18% -65.78 RDCD3
1.29% 11.65 RSID3 1.13% 13.05 LAME4 1.10% 40.51 CMIG4 1.10% 9.40 RSID3
1.27% 12.50 LAME4 1.08% 48.87 ALLL3 1.07% 43.09 ALLL3 1.08% 44.97 LREN3
1.23% 48.61 GOLL4 1.08% 14.09 AMBV4 1.07% 20.74 LAME4 1.07% 34.95 SANB11
1.15% -26.68 CMIG4 1.06% 9.51 ECOD3 1.07% -47.32 RSID3 1.04% 19.56 TIMP3
1.09% 12.35 JBSS3 1.05% 41.24 TAMM4 1.05% 9.55 LREN3 1.01% 20.30 LAME4
1.03% -49.50 ECOD3 1.01% -30.75 SANB11 1.04% 22.22 BRAP4 0.98% 6.72 CMIG4
1.02% 41.46 SANB11 0.99% 25.38 GOLL4 1.04% 31.68 TNLP4 0.92% 5.22 PCAR4
0.98% 24.34 TAMM4 0.99% 10.78 RSID3 1.04% 11.27 PCAR5 0.92% 30.04 NATU3
0.96% 12.59 LREN3 0.97% 24.82 JBSS3 1.03% -69.73 HYPE3 0.92% 56.41 TLPP4
0.94% 5.80 BRAP4 0.94% 10.18 BRAP4 1.03% 8.61 TCSL4 0.91% 8.75 FIBR3
0.93% 17.67 LLXL3 0.91% -59.40 LREN3 0.95% 22.40 TAMM4 0.90% 5.77 ALLL3
0.91% 14.48 TCSL4 0.87% 17.47 TCSL4 0.91% 6.15 SANB11 0.90% 19.51 GOAU4
0.91% 1.98 AMBV4 0.86% 18.90 PCAR5 0.91% 24.73 ECOD3 0.86% -22.90 JBSS3
0.88% 25.19 TNLP4 0.86% 1.66 VIVO4 0.90% 11.28 GOLL4 0.84% 22.74 BRAP4
0.87% -49.11 NATU3 0.83% 27.77 TNLP4 0.86% 6.67 CCRO3 0.79% 31.68 BRML3
0.87% 13.95 ELET3 0.81% 4.90 CCRO3 0.86% 31.19 VIVO4 0.78% 8.52 CCRO3
0.86% 12.04 CCRO3 0.77% 27.06 NATU3 0.86% 27.62 NATU3 0.77% 26.33 GOLL4
0.82% 9.30 BTOW3 0.76% 122.07 CSAN3 0.84% 14.32 AMBV4 0.77% 17.64 CSAN3
0.81% 13.02 EMBR3 0.76% 16.15 ELET3 0.84% 11.20 GOAU4 0.76% 11.66 BISA3
0.79% 6.89 VIVO4 0.75% 14.88 EMBR3 0.77% 15.23 ELET3 0.75% 9.90 TNLP4
0.73% -49.18 PCAR5 0.75% 27.29 BTOW3 0.76% 157.78 CSAN3 0.73% 13.41 ELPL4
0.73% 4.08 NETC4 0.75% 16.73 GOAU4 0.72% 12.35 MRFG3 0.73% 23.04 MRFG3
0.72% 25.08 CSAN3 0.74% 11.07 BRKM5 0.71% 8.62 BISA3 0.71% 9.96 BRKM5
0.71% 18.92 GOAU4 0.73% 12.66 ELET6 0.71% 13.48 CESP6 0.65% 80.88 ELET3
0.69% 26.73 ELET6 0.67% 5.78 CESP6 0.68% 95.04 CPLE6 0.65% 11.56 CPLE6
0.69% 20.74 BISA3 0.62% 12.54 LIGT3 0.66% 9.02 ELPL4 0.64% 4.29 HGTX3
0.66% 17.27 MRFG3 0.62% 56.87 CPLE6 0.63% 11.50 ELET6 0.64% 12.29 CESP6
0.62% 13.56 CESP6 0.61% -32.50 BISA3 0.61% 10.42 EMBR3 0.63% 14.20 ECOD3
0.61% 93.02 USIM3 0.61% 14.22 ELPL4 0.59% 3.99 BTOW3 0.63% 360.73 LIGT3
0.60% -11.85 BRKM5 0.57% -14.71 DTEX3 0.56% 17.75 BRKM5 0.58% 7.96 ELET6
0.57% 10.19 CPLE6 0.57% 16.41 MRFG3 0.55% 36.81 LIGT3 0.56% 11.13 LLXL3
0.57% 16.33 DTEX3 0.56% 17.46 USIM3 0.52% 13.77 DTEX3 0.55% 16.64 EMBR3
0.55% 20.83 ELPL6 0.54% 3.30 KLBN4 0.51% 9.59 USIM3 0.51% 24.05 KLBN4
0.51% 8.23 LIGT3 0.54% 7.57 UGPA4 0.50% 18.85 KLBN4 0.51% 9.20 DTEX3
0.43% 7.09 UGPA4 0.46% 21.87 LLXL3 0.47% -258.24 LLXL3 0.47% -249.49 UGPA3
0.43% -79.74 CRUZ3 0.43% 18.95 CRUZ3 0.46% 19.08 UGPA4 0.46% 17.80 CRUZ3
0.37% 6.08 CPFE3 0.42% 9.51 CPFE3 0.46% 12.86 CPFE3 0.45% 14.20 TAMM4
0.28% 8.70 KLBN4 0.40% -294.69 SBSP3 0.42% 5.95 CRUZ3 0.40% 16.99 BTOW3
0.25% 2.76 BRTO4 0.36% 5.69 BRTO4 0.41% 3.67 PRTX3 0.39% -100.56 USIM3
0.25% 1.79 SBSP3 0.35% 5.24 PRTX3 0.36% -147.06 BRTO4 0.39% 5.22 CPFE3
0.19% 7.76 TNLP3 0.25% 2.16 TNLP3 0.26% 8.87 SBSP3 0.29% 7.07 BRTO4
0.16% 26.31 TRPL4 0.22% 9.90 TRPL4 0.24% 10.30 TNLP3 0.27% 6.33 SBSP3
TMAR5 0.21% 1.53 TMAR5 0.23% 7.96 TRPL4 0.20% 9.75 TNLP3
TLPP4 0.15% 8.74 TLPP4 0.16% 8.87 TMAR5 0.18% 5.22 TRPL4
TCSL3 0.14% 23.27 TCSL3 0.13% 7.61 TCSL3 0.17% 8.75 TMAR5
TLPP4 0.15% 8.52
0 0 0 0
2010 2T 2010 3T 2010 4T 2011 1T
11.52 11.87 12.04 11.78
 2011 201
2011 2T 2011 3T 2011 4T 2012 1T 2012 2T
68 68 68 68 68 68 68 68
Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo
9.74% 7.57 PETR4 9.74% 6.45 PETR4 10.14% 8.47 VALE5 9.18% 6.69 VALE5
9.35% 5.66 VALE5 9.35% 5.30 VALE5 9.68% 5.37 PETR4 8.14% 9.72 PETR4
5.25% -123.90 OGXP3 5.25% -187.05 OGXP3 6.18% -91.35 OGXP3 5.26% -85.36 OGXP3
4.44% 14.94 ITUB4 4.44% 11.12 ITUB4 4.55% 13.07 ITUB4 4.63% 13.55 ITUB4
3.45% 18.86 BVMF3 3.45% 16.06 BVMF3 3.55% 18.52 BBDC4 3.39% 10.97 BBDC4
3.30% 11.02 BBDC4 3.30% 9.39 GGBR4 3.41% 12.43 PDGR3 3.37% 13.97 PDGR3
3.14% 6.21 BBAS3 3.14% 5.40 BBDC4 3.35% 10.66 BBAS3 3.20% 6.26 BBAS3
3.05% 15.88 GGBR4 3.05% 11.86 PETR3 3.08% 9.06 BVMF3 3.12% 21.04 BVMF3
3.00% 8.38 PETR3 3.00% 7.06 VALE3 2.90% 5.60 VALE3 2.99% 6.92 VALE3
2.87% 6.27 VALE3 2.87% 5.77 BBAS3 2.71% 5.54 GGBR4 2.76% 15.13 GGBR4
2.61% 10.68 PDGR3 2.61% 7.40 USIM5 2.61% 44.15 PETR3 2.60% 10.12 PETR3
2.53% 15.69 USIM5 2.53% 22.49 PDGR3 2.37% 9.36 ITSA4 2.39% 10.31 ITSA4
2.18% 11.47 ITSA4 2.18% 8.78 ITSA4 2.24% 10.30 USIM5 1.93% 64.65 USIM5
1.91% 14.68 CYRE3 1.91% 12.40 CYRE3 1.80% 12.60 CYRE3 1.77% 12.61 CYRE3
1.67% 8.80 MRVE3 1.67% 6.61 CSNA3 1.68% 5.89 GFSA3 1.74% -1.99 GFSA3
1.66% 117.42 GFSA3 1.66% -16.53 CIEL3 1.46% 14.53 MRVE3 1.73% 8.64 MRVE3
1.61% 9.66 CSNA3 1.61% 6.47 BRFS3 1.41% 23.24 HYPE3 1.70% -172.33 HYPE3
1.45% 37.11 HYPE3 1.45% -274.57 RDCD3 1.41% 13.53 RDCD3 1.50% 14.08 RDCD3
1.31% 15.91 BRFS3 1.31% 17.48 MRVE3 1.39% 6.80 CSNA3 1.50% 7.85 CSNA3
1.30% 11.96 CIEL3 1.30% 13.08 GFSA3 1.31% -1.88 AMBV4 1.47% 26.47 AMBV4
1.25% 19.15 AMBV4 1.25% 21.59 AMBV4 1.29% 24.28 BRFS3 1.44% 27.62 BRFS3
1.21% 16.38 MMXM3 1.21% -276.25 MMXM3 1.04% -214.73 CIEL3 1.35% 17.31 CIEL3
1.21% 11.61 RDCD3 1.21% 12.87 JBSS3 1.01% -57.65 RSID3 1.25% 22.91 RSID3
1.18% 23.99 RSID3 1.18% 21.86 SANB11 1.01% 15.92 MMXM3 1.18% -166.75 MMXM3
1.15% 21.36 LREN3 1.15% 18.20 LAME4 1.01% 34.69 TIMP3 1.15% 21.00 TIMP3
1.10% 19.00 SANB11 1.10% 14.80 RSID3 0.99% 27.29 OIBR4 1.11% 4.69 OIBR4
1.08% 8.50 TIMP3 1.08% 6.98 CMIG4 0.98% 9.40 SANB11 1.10% 18.70 SANB11
1.05% 38.91 LAME4 1.05% 37.01 LREN3 0.97% 17.65 CMIG4 1.07% 11.81 CMIG4
0.98% 9.08 CMIG4 0.98% 7.96 GOAU4 0.97% 9.72 BRML3 1.06% 20.44 BRML3
0.98% 30.67 PCAR4 0.98% 24.26 PCAR4 0.95% 24.28 CCRO3 1.05% 26.06 CCRO3
0.98% 22.44 NATU3 0.98% 18.17 TIMP3 0.94% 17.48 LREN3 1.04% 23.69 LREN3
0.91% 18.07 TLPP4 0.91% 15.96 NATU3 0.94% 18.82 LAME4 1.00% 44.64 LAME4
0.90% 9.03 FIBR3 0.90% -18.95 VIVT4 0.90% 13.41 NATU3 0.98% 20.58 NATU3
0.90% 38.32 ALLL3 0.90% 24.60 HYPE3 0.87% -97.49 VIVT4 0.90% 12.99 VIVT4
0.87% 11.24 GOAU4 0.87% 4.83 GOLL4 0.85% -4.48 HGTX3 0.87% 24.35 HGTX3
0.86% -30.68 JBSS3 0.86% -13.90 BRAP4 0.84% 5.47 ALLL3 0.84% 25.71 ALLL3
0.84% 6.20 BRAP4 0.84% 5.57 ALLL3 0.83% 26.11 MRFG3 0.83% -5.43 MRFG3
0.80% 14.50 BRML3 0.80% 18.26 CSAN3 0.82% 3.74 GOLL4 0.81% -3.82 GOLL4
0.80% 33.38 CCRO3 0.80% 35.46 FIBR3 0.80% -7.43 PCAR4 0.81% 30.10 PCAR4
0.77% -106.89 GOLL4 0.77% -4.11 BRML3 0.78% 17.29 FIBR3 0.79% -5.52 FIBR3
0.75% 3.26 CSAN3 0.75% 3.39 CCRO3 0.75% 24.30 JBSS3 0.78% -78.47 JBSS3
0.73% 11.14 BISA3 0.73% 7.55 ELPL4 0.73% 3.89 GOAU4 0.76% 12.97 GOAU4
0.72% 5.28 TNLP4 0.72% 4.21 KLBN4 0.67% 40.18 BISA3 0.75% 26.03 BISA3
0.71% 4.82 ELPL4 0.71% 3.98 ELET3 0.66% 6.47 BRAP4 0.75% 6.83 BRAP4
0.69% 213.70 MRFG3 0.69% -4.77 BISA3 0.64% 13.64 BRKM5 0.74% -17.79 BRKM5
0.69% 11.04 BRKM5 0.69% 356.75 ELET6 0.64% 9.73 ELPL4 0.71% 4.59 ELPL4
0.63% 12.37 ELET3 0.63% 5.92 HGTX3 0.63% 17.85 CSAN3 0.70% 5.31 CSAN3
0.60% 10.68 CPLE6 0.60% 8.24 TNLP4 0.63% 6.52 DASA3 0.68% 31.83 DASA3
0.59% 21.87 HGTX3 0.59% 17.53 EMBR3 0.63% 55.71 RENT3 0.66% 22.54 RENT3
0.57% 83.65 CESP6 0.57% -103.08 MRFG3 0.59% -3.97 CRUZ3 0.63% 26.27 CRUZ3
0.57% -17.07 ECOD3 0.57% -11.80 CPLE6 0.57% 9.20 KLBN4 0.62% 15.46 KLBN4
0.56% 14.11 LIGT3 0.56% 19.27 CESP6 0.57% 99.69 CPLE6 0.56% 10.71 CPLE6
0.56% 15.62 ELET6 0.56% 7.85 VAGR3 0.55% -3.97 UGPA3 0.56% 25.75 UGPA3
0.55% -196.78 LLXL3 0.55% -116.67 LIGT3 0.53% 17.17 EMBR3 0.55% 116.36 EMBR3
0.55% 11.66 EMBR3 0.55% 16.24 UGPA3 0.53% 20.53 LIGT3 0.53% 16.76 LIGT3
0.54% 7.06 KLBN4 0.54% 16.72 BRKM5 0.53% -20.67 ELET3 0.51% 6.24 ELET3
0.53% 15.37 DTEX3 0.53% 10.80 CRUZ3 0.52% 21.86 DTEX3 0.50% 16.51 DTEX3
0.49% 17.73 UGPA3 0.49% 18.47 LLXL3 0.49% -59.36 CESP6 0.49% 45.91 CESP6
0.49% 19.90 CRUZ3 0.49% 18.89 TAMM4 0.45% -16.67 ELET6 0.49% 8.63 ELET6
0.48% 5.05 TAMM4 0.48% -14.63 USIM3 0.43% 74.60 LLXL3 0.47% -51.05 LLXL3
0.44% -95.81 BTOW3 0.44% -27.47 CPFE3 0.41% 15.92 CPFE3 0.42% 17.34 CPFE3
0.42% 26.89 USIM3 0.42% 45.96 DTEX3 0.40% 13.11 BTOW3 0.38% -9.20 BTOW3
0.38% 14.26 CPFE3 0.38% 12.98 BRTO4 0.36% 6.52 TAMM4 0.37% -19.62 TAMM4
0.38% 5.28 BRTO4 0.38% 4.21 BTOW3 0.31% -14.38 VAGR3 0.36% -5.89 VAGR3
0.28% 6.32 SBSP3 0.28% 7.63 SBSP3 0.30% 9.69 SBSP3 0.31% 10.36 SBSP3
0.18% 6.00 TNLP3 0.18% 4.72 TRPL4 0.19% 9.67 USIM3 0.30% 106.58 USIM3
0.18% 9.28 TRPL4 0.18% 7.90 TNLP3 0.18% 7.01 OIBR3 0.27% 5.37 OIBR3
0.13% 5.28 TMAR5 0.13% 4.21 TMAR5 0.16% 6.52 TRPL4 0.18% 10.43 TRPL4

0 0 0 0
2011 2T 2011 3T 2011 4T 2012 1T
11.33 9.10 9.31 10.85
 2012 2018
2012 2T 2012 3T 2012 4T 2018 2T 2018 3T
68 68 68 69 69 64 69 64
Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo
9.18% 7.43 VALE5 9.18% 7.98 VALE5 9.45% 22.53 ABEV3 6.84% 35.96 ABEV3
8.14% 12.51 PETR4 8.14% 16.03 PETR4 8.36% 12.19 B3SA3 3.71% 22.50 B3SA3
5.26% -20.65 OGXP3 5.26% -16.75 OGXP3 5.23% -12.45 BBAS3 3.22% 7.22 BBAS3
4.63% 11.15 ITUB4 4.63% 12.42 ITUB4 4.49% 14.13 BBDC3 1.42% 9.13 BBDC3
3.39% 10.26 BBDC4 3.39% 11.11 PDGR3 3.62% -2.03 BBDC4 7.86% 11.34 BBDC4
3.37% -22.25 PDGR3 3.37% -12.41 BBDC4 3.24% 11.82 BBSE3 1.33% 11.93 BBSE3
3.20% 4.85 BBAS3 3.20% 6.19 BBAS3 3.20% 5.96 BRAP4 0.57% 8.89 BRAP4
3.12% 19.08 BVMF3 3.12% 23.14 BVMF3 3.10% 25.80 BRFS3 1.39% -7.47 BRFS3
2.99% 7.61 VALE3 2.99% 8.26 VALE3 3.01% 23.31 BRKM5 0.89% 14.93 BRKM5
2.76% 14.84 GGBR4 2.76% 19.13 GGBR4 2.74% 21.63 BRML3 0.66% -12.30 BRML3
2.60% 12.95 PETR3 2.60% 16.69 PETR3 2.58% 12.20 CCRO3 0.96% 9.84 CCRO3
2.39% 8.67 ITSA4 2.39% 9.04 USIM5 2.45% -20.29 CIEL3 1.49% 7.12 CIEL3
1.93% -256.02 USIM5 1.93% -37.82 ITSA4 2.38% 10.35 CMIG4 0.58% 11.13 CMIG4
1.77% 10.47 CYRE3 1.77% 12.24 GFSA3 1.76% -16.39 CPFE3 0.09% 14.38 CPFE3
1.74% -1.26 GFSA3 1.74% -2.29 CSNA3 1.75% -41.16 CPLE6 0.18% 4.84 CPLE6
1.73% 6.61 MRVE3 1.73% 9.42 MRVE3 1.68% 10.96 CSAN3 0.41% 9.00 CSAN3
1.70% -57.28 HYPE3 1.70% 72.51 HYPE3 1.57% 51.14 CSNA3 0.39% 4.92 CSNA3
1.50% 14.08 RDCD3 1.50% 14.08 CYRE3 1.51% 11.29 CYRE3 0.23% -119.33 CYRE3
1.50% 16.13 CSNA3 1.50% 208.41 AMBV4 1.44% 25.47 ECOR3 0.13% 9.06 ECOR3
1.47% 26.79 AMBV4 1.47% 24.74 BRFS3 1.35% 45.26 EGIE3 0.53% 10.82 EGIE3
1.44% 41.07 BRFS3 1.44% 82.23 CIEL3 1.32% 16.13 ELET3 0.35% -34.47 ELET3
1.35% 18.59 CIEL3 1.35% 14.99 RDCD3 1.30% 14.08 ELET6 0.34% -35.47 ELET6
1.25% 9.51 RSID3 1.25% 10.76 OIBR4 1.25% 17.85 EMBR3 1.23% -396.60 EMBR3
1.18% -7.01 MMXM3 1.18% -8.29 MMXM3 1.18% -3.51 ENBR3 0.28% 9.99 ENBR3
1.15% 20.16 TIMP3 1.15% 14.13 TIMP3 1.14% 13.68 EQTL3 0.97% 11.33 EQTL3
1.11% 15.67 OIBR4 1.11% 17.02 RSID3 1.12% -9.24 ESTC3 0.78% 13.88 ESTC3
1.10% 18.57 SANB11 1.10% 19.69 CCRO3 1.10% 29.45 FIBR3 1.10% 29.39 FIBR3
1.07% 12.30 CMIG4 1.07% 7.28 BRML3 1.06% 7.03 FLRY3 0.58% 19.54 FLRY3
1.06% 11.93 BRML3 1.06% 13.23 SANB11 1.04% 17.85 GGBR4 1.18% -257.46 GGBR4
1.05% 27.13 CCRO3 1.05% 29.11 LREN3 0.98% 27.86 GOAU4 0.33% -39.21 GOAU4
1.04% 22.08 LREN3 1.04% 25.67 HGTX3 0.97% 22.17 HYPE3 0.90% 15.50 HYPE3
1.00% 44.79 LAME4 1.00% 48.74 LAME4 0.94% 46.43 IGTA3 0.22% 23.37 IGTA3
0.98% 23.60 NATU3 0.98% 26.63 NATU3 0.94% 29.36 ITSA4 3.71% 8.70 ITSA4
0.90% 11.63 VIVT4 0.90% 11.23 VIVT4 0.88% 12.38 ITUB4 11.36% 10.86 ITUB4
0.87% 19.29 HGTX3 0.87% 23.88 BISA3 0.82% -5.08 JBSS3 1.02% -93.80 JBSS3
0.84% 27.72 ALLL3 0.84% 25.58 JBSS3 0.80% 23.15 KLBN11 0.73% -39.47 KLBN11
0.83% -5.16 MRFG3 0.83% -52.14 BRKM5 0.80% -13.96 KROT3 1.49% 10.36 KROT3
0.81% -1.98 GOLL4 0.81% -3.19 FIBR3 0.79% -17.73 LAME4 0.96% 63.48 LAME4
0.81% 22.97 PCAR4 0.81% 24.53 GOLL4 0.79% -2.38 LREN3 1.67% 23.13 LREN3
0.79% -4.10 FIBR3 0.79% -9.19 CMIG4 0.78% 4.51 MGLU3 0.48% 42.68 MGLU3
0.78% 165.12 JBSS3 0.78% 29.20 BRAP4 0.75% 24.07 MRFG3 0.24% -3.35 MRFG3
0.76% 12.66 GOAU4 0.76% 17.35 SUZB5 0.73% -42.70 MRVE3 0.30% 7.73 MRVE3
0.75% -4.07 BISA3 0.75% -4.01 CSAN3 0.72% 22.43 MULT3 0.41% 23.39 MULT3
0.75% 7.51 BRAP4 0.75% 7.62 GOAU4 0.72% 20.69 NATU3 0.40% 32.62 NATU3
0.74% -5.10 BRKM5 0.74% -9.63 ALLL3 0.70% 24.08 PCAR4 0.82% 24.31 PCAR4
0.71% 3.53 ELPL4 0.71% 3.80 MRFG3 0.70% -18.07 PETR3 4.69% 26.63 PETR3
0.70% 43.60 CSAN3 0.70% 29.60 RENT3 0.68% 31.39 PETR4 6.60% 18.84 PETR4
0.68% 30.54 DASA3 0.68% 36.17 CRUZ3 0.67% 28.70 QUAL3 0.38% 11.77 QUAL3
0.66% 25.78 RENT3 0.66% 30.74 KLBN4 0.67% 15.61 RADL3 1.02% 45.27 RADL3
0.63% 27.14 CRUZ3 0.63% 25.18 DASA3 0.64% 48.28 RAIL3 1.14% -249.67 RAIL3
0.62% 54.23 KLBN4 0.62% 13.36 CTIP3 0.63% 23.67 RENT3 1.02% 25.28 RENT3
0.56% 11.92 CPLE6 0.56% 9.17 ELPL4 0.60% 26.04 SANB11 1.04% 14.74 SANB11
0.56% 28.42 UGPA3 0.56% 26.66 PCAR4 0.60% 22.68 SAPR11 0.28% 6.19 SAPR11
0.55% 182.37 EMBR3 0.55% 36.97 UGPA3 0.59% 24.93 SBSP3 0.84% 7.08 SBSP3
0.53% 16.31 LIGT3 0.53% 12.11 EMBR3 0.57% 15.33 SMLS3 0.29% 8.90 SMLS3
0.51% 4.07 ELET3 0.51% 3.92 LLXL3 0.51% -58.10 SUZB3 1.27% 396.85 SUZB5
0.50% 15.33 DTEX3 0.50% 18.78 DTEX3 0.49% 17.79 TAEE11 0.28% 8.10 TAEE11
0.49% 44.51 CESP6 0.49% 13.68 CPFE3 0.44% 16.80 TIMP3 0.90% 19.55 TIMP3
0.49% 5.57 ELET6 0.49% 5.90 LIGT3 0.44% 10.74 UGPA3 1.83% 16.30 UGPA3
0.47% -40.14 LLXL3 0.47% -56.38 CPLE6 0.43% 12.38 USIM5 0.40% 52.53 USIM5
0.42% 16.69 CPFE3 0.42% 15.28 ELET6 0.42% -2.06 VALE3 10.64% 20.77 VALE3
0.38% -5.75 BTOW3 0.38% -10.00 ELET3 0.41% -1.24 VIVT4 1.45% 9.47 VIVT4
0.37% -19.62 TAMM4 0.37% -19.62 USIM3 0.40% -21.67 VVAR11 0.31% 27.63 VVAR11
0.36% -3.65 VAGR3 0.36% -4.56 BTOW3 0.37% -14.69 WEGE3 0.92% 25.99 WEGE3
0.31% 13.04 SBSP3 0.31% 11.53 SBSP3 0.31% 10.35
0.30% -312.73 USIM3 0.30% -43.43 CESP6 0.29% 42.91
0.27% 17.95 OIBR3 0.27% 20.72 VAGR3 0.29% -11.16
0.18% 10.69 TRPL4 0.18% 7.09 OIBR3 0.27% 19.66
TRPL4 0.12% 5.97
0 0 0 0
2012 2T 2012 3T 2012 4T 2018 2T
9.65 11.15 12.38 14.94
 2018 2019
2018 3T 2018 - 4T 2019 - 1T 11/07/2019 - Atual
69 65 69 65 69 66 69 Atual
Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L Ativo Part (%) P/L LPA
7.74% 21.88 ABEV3 6.42% 22.43 ABEV3 4.72% 24.85 ABEV3 4.76% 26.78
3.88% 23.57 B3SA3 3.48% 27.32 B3SA3 3.83% 27.29 AZUL4 0.87% 48.86
2.34% 10.79 BBAS3 3.14% 11.12 BBAS3 4.29% 10.46 B3SA3 4.61% 36.44
5.60% 10.41 BBDC3 1.50% 12.78 BBDC3 1.63% 10.53 BBAS3 4.21% 11.23
1.09% 10.66 BBDC4 7.18% 14.59 BBDC4 8.71% 15.96 BBDC3 1.80% 13.85
1.28% 14.54 BBSE3 1.29% 14.05 BBSE3 1.24% 16.87 BBDC4 8.59% 15.41
0.42% 23.58 BRAP4 0.54% 19.50 BRAP4 0.48% 9.75 BBSE3 1.28% 18.44 1.83
1.47% -5.30 BRFS3 1.28% -5.37 BRDT3 0.58% 8.80 BRAP4 0.44% 10.24
0.50% 13.30 BRKM5 1.23% 11.34 BRFS3 1.25% -4.44 BRDT3 0.50% 9.05
1.60% -21.47 BRML3 0.61% -31.13 BRKM5 0.85% 14.63 BRFS3 1.40% -5.34
2.13% 14.15 BTOW3 0.35% -52.70 BRML3 0.75% 8.19 BRKM5 0.57% 10.37
2.13% 5.37 CCRO3 0.82% 15.94 BTOW3 0.47% -19.84 BRML3 0.71% 12.94
1.84% 7.85 CIEL3 1.32% 6.60 CCRO3 0.92% 35.90 BTOW3 0.35% -42.54
0.10% 15.15 CMIG4 0.57% 15.53 CIEL3 0.73% 6.23 CCRO3 0.94% 43.22
0.19% 4.86 CPLE6 0.16% 7.37 CMIG4 0.87% 9.49 CIEL3 0.46% 6.88
0.29% 13.10 CSAN3 0.43% 9.30 CSAN3 0.38% 11.31 CMIG4 0.85% 11.05
1.15% 3.79 CSNA3 0.43% 3.31 CSNA3 0.42% 6.47 CSAN3 0.44% 27.69
0.47% -39.58 CVCB3 0.49% 33.45 CVCB3 0.57% 18.52 CSNA3 0.63% 6.65
0.36% 12.47 CYRE3 0.22% -40.76 CYRE3 0.28% 475.00 CVCB3 0.46% 27.25
0.39% 9.50 ECOR3 0.11% 12.73 ECOR3 0.13% 18.52 CYRE3 0.31% 622.21
0.51% -11.67 EGIE3 0.59% 11.94 EGIE3 0.61% 11.92 ECOR3 0.12% 20.70
0.43% -8.83 ELET3 0.33% -11.83 ELET3 0.55% 3.27 EGIE3 0.67% 15.76
1.40% -32.89 ELET6 0.32% -13.75 ELET6 0.51% 3.36 ELET3 0.57% 3.36
0.56% 9.15 EMBR3 1.13% -33.89 EMBR3 1.05% -17.45 ELET6 0.49% 3.48
0.38% 15.05 ENBR3 0.31% 9.09 ENBR3 0.29% 8.50 EMBR3 0.82% -18.21
0.59% 11.98 EQTL3 0.89% 13.98 EQTL3 1.05% 12.07 ENBR3 0.33% 8.94
0.44% 20.56 ESTC3 0.54% 13.30 ESTC3 0.50% 13.54 EQTL3 1.08% 18.38
0.59% 17.69 FIBR3 1.42% 20.72 FLRY3 0.45% 19.53 ESTC3 0.53% 14.45
1.89% 51.28 FLRY3 0.62% 18.40 GGBR4 1.03% 11.07 FLRY3 0.39% 22.95
1.10% 15.71 GGBR4 1.24% 47.55 GOAU4 0.28% 7.68 GGBR4 0.89% 11.39
0.76% 15.44 GOAU4 0.35% 48.94 GOLL4 0.21% -126.33 GOAU4 0.25% 8.87
0.17% 21.90 GOLL4 0.12% -5.55 HYPE3 0.82% 15.93 GOLL4 0.26% -11.27
7.37% 9.04 HYPE3 0.85% 15.54 IGTA3 0.24% 26.21 HYPE3 0.69% 16.27
5.95% 11.55 IGTA3 0.21% 30.06 ITSA4 3.89% 10.31 IGTA3 0.23% 34.98
2.98% -43.46 ITSA4 3.34% 11.46 ITUB4 10.94% 12.97 IRBR3 0.80% 24.10 4.21
0.94% -25.57 ITUB4 10.44% 17.59 JBSS3 1.33% 100.62 ITSA4 3.35% 11.78
2.82% 8.51 JBSS3 1.18% -31.96 KLBN11 0.68% -841.50 ITUB4 10.06% 15.92
1.30% 68.43 KLBN11 0.99% -21.24 KROT3 0.91% 14.56 JBSS3 2.05% 113.23
1.34% 29.02 KROT3 1.18% 8.67 LAME4 0.92% 73.09 KLBN11 0.58% -96.69
0.13% 57.81 LAME4 0.84% 80.11 LOGG3 0.02% 25.53 KROT3 0.93% 17.38
0.77% -3.36 LREN3 1.57% 33.47 LREN3 1.98% 27.61 LAME4 0.67% 90.62
0.55% 7.93 MGLU3 0.69% 60.02 MGLU3 0.82% 69.37 LREN3 2.24% 36.22
0.17% 27.05 MRFG3 0.18% -4.03 MRFG3 0.15% 1.72 MGLU3 0.86% 76.46
0.33% 42.86 MRVE3 0.30% 8.07 MRVE3 0.26% 10.68 MRFG3 0.16% 2.67
0.30% 19.39 MULT3 0.39% 29.37 MULT3 0.43% 33.17 MRVE3 0.33% 12.40
7.88% 17.46 NATU3 0.39% 43.32 NATU3 0.51% 45.72 MULT3 0.44% 38.02
5.17% 14.93 PCAR4 0.99% 20.08 PCAR4 0.88% 19.15 NATU3 0.62% 46.99
0.46% 8.94 PETR3 4.69% 18.20 PETR3 5.14% 17.25 PCAR4 0.82% 20.64
0.40% 36.41 PETR4 6.44% 16.26 PETR4 7.27% 15.27 PETR3 5.03% 17.54
2.13% 271.00 QUAL3 0.30% 9.30 QUAL3 0.21% 15.64 PETR4 7.18% 16.03
0.95% 30.21 RADL3 1.27% 36.37 RADL3 0.83% 52.32 QUAL3 0.32% 16.94
0.71% 11.34 RAIL3 1.24% 354.87 RAIL3 1.28% 76.04 RADL3 0.97% 58.70
0.13% 5.74 RENT3 0.85% 32.50 RENT3 1.00% 36.13 RAIL3 1.38% 97.96
0.65% 10.81 SANB11 1.01% 13.83 SANB11 1.16% 24.17 RENT3 1.39% 45.93
0.11% 9.35 SBSP3 0.58% 11.10 SBSP3 0.76% 10.94 SANB11 1.00% 13.70
0.89% -66.83 SMLS3 0.24% 8.96 SMLS3 0.17% 27.54 SBSP3 0.88% 11.66
0.35% 7.85 SUZB3 1.74% -65.92 SUZB3 1.40% -36.26 SMLS3 0.16% 8.02
1.54% 11.19 TAEE11 0.34% 7.96 TAEE11 0.36% 9.04 SUZB3 1.50% -24.91
0.79% 27.42 TIMP3 0.78% 11.27 TIMP3 0.70% 11.04 TAEE11 0.36% 9.75
0.97% 25.78 UGPA3 1.74% 28.25 UGPA3 1.83% 9.15 TIMP3 0.56% 12.16
6.01% 18.97 USIM5 0.33% 35.65 USIM5 0.34% 16.60 UGPA3 1.37% 17.71
0.79% 8.60 VALE3 12.89% 19.67 VALE3 10.80% 19.11 USIM5 0.27% 18.91
0.26% 44.18 VIVT4 1.30% 8.73 VIVT4 1.34% 9.27 VALE3 9.92% 19.51
1.09% 21.15 VVAR3 0.18% 40.30 VVAR3 0.11% -14.07 VIVT4 1.24% 9.59
WEGE3 1.11% 28.24 WEGE3 0.90% 23.73 VVAR3 0.15% -22.51
WEGE3 0.95% 36.55

0 0 0 0
2018 3T 2018 - 4T 2019 - 1T 11/07/2019 - Atual
12.39 15.61 14.50 15.45
Preço

33.74

101.45
P/L Trimestral do Ibovespa
1999 1T 1999 2T 1999 3T 1999 4T 2000 1T 2000 2T
1999 2000
Base de Dados 1T 2T 3T 4T 1T 2T
P/L Histórico (Corte > 40 e < 0) 3.25 10.68 6.71 6.38
P/L Bloomberg
P/L Final 3.25 10.68 6.71 6.38
2000 3T 2000 4T 2001 1T 2001 2T 2001 3T 2001 4T 2002 1T 2002 2T 2002 3T 2002 4T
2001 2002
3T 4T 1T 2T 3T 4T 1T 2T 3T 4T
11.30 9.68 8.27 10.87 9.97 6.82 7.40 6.34 6.06 5.96

11.30 9.68 8.27 10.87 9.97 6.82 7.40 6.34 6.06 5.96
2003 1T 2003 2T 2003 3T 2003 4T 2004 1T 2004 2T 2004 3T 2004 4T 2005 1T 2005 2T
2003 2004 2005
1T 2T 3T 4T 1T 2T 3T 4T 1T 2T
5.76 5.28 6.02 12.18 10.37 9.60 8.43 11.84 7.61 9.19

5.76 5.28 6.02 12.18 10.37 9.60 8.43 11.84 7.61 9.19
2005 3T 2005 4T 2006 1T 2006 2T 2006 3T 2006 4T 2007 1T 2007 2T 2007 3T 2007 4T
2006 2007
3T 4T 1T 2T 3T 4T 1T 2T 3T 4T
8.93 11.30 10.45 11.32 9.31 10.90 10.52 13.31 12.57 13.36
10.72 9.88 11.50 13.26 14.16
8.93 11.30 10.45 11.32 9.31 10.72 9.88 11.50 13.26 14.16
2008 1T 2008 2T 2008 3T 2008 4T 2009 1T 2009 2T 2009 3T 2009 4T 2010 1T 2010 2T
2008 2009 2010
1T 2T 3T 4T 1T 2T 3T 4T 1T 2T
12.78 14.15 10.24 7.75 8.22 8.93 12.19 15.81 16.71 11.52
11.81 12.65 9.75 7.20 10.30 14.07 16.22 18.02 13.44 11.24
11.81 12.65 9.75 7.20 10.30 14.07 16.22 18.02 13.44 11.24
2010 3T 2010 4T 2011 1T 2011 2T 2011 3T 2011 4T 2012 1T 2012 2T 2012 3T 2012 4T 2013 1T
2011 2012 2013
3T 4T 1T 2T 3T 4T 1T 2T 3T 4T 1T
11.87 12.04 11.78 11.33 9.10 9.31 10.85 9.65
13.03 12.89 10.60 10.04 8.93 10.20 10.83 9.97 14.09 17.57 11.60
13.03 12.89 10.60 10.04 8.93 10.20 10.83 9.97 14.09 17.57 11.60
2013 2T 2013 3T 2013 4T 2014 1T 2014 2T 2014 3T 2014 4T 2015 1T 2015 2T 2015 3T
2014 2015
2T 3T 4T 1T 2T 3T 4T 1T 2T 3T

10.75 13.53 13.97 10.21 11.11 11.89 11.92 12.58 14.29 12.70
10.75 13.53 13.97 10.21 11.11 11.89 11.92 12.58 14.29 12.70
2015 4T 2016 1T 2016 2T 2016 3T 2016 4T 2017 1T 2017 2T 2017 3T 2017 4T 2018 1T
2016 2017 2018
4T 1T 2T 3T 4T 1T 2T 3T 4T 1T

12.76 14.06 13.15 14.75 15.53 12.11 11.71 14.33 14.64 12.91
12.76 14.06 13.15 14.75 15.53 12.11 11.71 14.33 14.64 12.91
2018 2T 2018 3T 2018 4T 2019 1T 2019 2T 2019 3T 2019 4T
2019
2T 3T 4T 1T 2T 3T 4T
14.94 12.39 15.61 14.50 15.45

14.94 12.39 15.61 14.50 15.45

 Comparação entre Ibovespa e P/L Ibov
Base de dados Bloomberg a partir do 4T 2006
dez-22 4.14% 0.01% 105,146.44
DATA IBOV IPCA % IPCA % AC Dólar Dólar % Dólar% AC Ibovespa Nominal
1 Jan-99 20.46% 0.70% 266.90% 1.98 8,172.00
2 Feb-99 9.04% 1.05% 264.35% 2.06 4.04% 89.39% 8,911.00
3 Mar-99 20.03% 1.10% 260.56% 1.72 -16.50% 82.04% 10,696.00
4 Apr-99 6.12% 0.56% 256.64% 1.66 -3.49% 118.02% 11,351.00
5 May-99 -2.30% 0.30% 254.65% 1.72 3.61% 125.90% 11,090.00
6 1999 2T Jun-99 4.84% 0.19% 253.59% 1.77 2.91% 118.02% 11,627.00
7 Jul-99 -10.19% 1.09% 252.92% 1.79 1.13% 111.86% 10,442.00
8 Aug-99 1.18% 0.56% 249.11% 1.92 7.26% 109.50% 10,565.00
9 1999 3T Sep-99 5.12% 0.31% 247.17% 1.92 0.00% 95.31% 11,106.00
10 Oct-99 5.35% 1.19% 246.10% 1.95 1.56% 95.31% 11,700.00
11 Nov-99 17.77% 0.95% 242.03% 1.92 -1.54% 92.31% 13,779.00
12 1999 4T Dec-99 24.04% 0.60% 238.81% 1.79 -6.77% 95.31% 17,092.00
13 Jan-00 -4.12% 0.62% 236.79% 1.80 0.56% 109.50% 16,388.00
14 Feb-00 7.76% 0.13% 234.71% 1.77 -1.67% 108.33% 17,660.00
15 2000 1T Mar-00 0.91% 0.22% 234.28% 1.75 -1.13% 111.86% 17,820.00
16 Apr-00 -12.81% 0.42% 233.54% 1.81 3.43% 114.29% 15,538.00
17 May-00 -3.74% 0.01% 232.15% 1.83 1.10% 107.18% 14,957.00
18 2000 2T Jun-00 11.84% 0.23% 232.12% 1.80 -1.64% 104.92% 16,728.00
19 Jul-00 -1.63% 1.61% 231.35% 1.77 -1.67% 108.33% 16,455.00
20 Aug-00 5.42% 1.31% 226.10% 1.82 2.82% 111.86% 17,347.00
21 2000 3T Sep-00 -8.18% 0.23% 221.89% 1.84 1.10% 106.04% 15,928.00
22 Oct-00 -6.66% 0.14% 221.15% 1.91 3.80% 103.80% 14,867.00
23 Nov-00 -10.63% 0.32% 220.70% 1.96 2.62% 96.34% 13,287.00
24 2000 4T Dec-00 14.84% 0.59% 219.68% 1.96 0.00% 91.33% 15,259.00
25 Jan-01 15.82% 0.57% 217.80% 1.97 0.51% 91.33% 17,673.00
26 Feb-01 -10.08% 0.46% 216.00% 2.05 4.06% 90.36% 15,891.00
27 2001 1T Mar-01 -9.14% 0.38% 214.55% 2.16 5.37% 82.93% 14,438.00
28 Apr-01 3.32% 0.58% 213.36% 2.18 0.93% 73.61% 14,918.00
29 May-01 -1.80% 0.41% 211.56% 2.36 8.26% 72.02% 14,650.00
30 2001 2T Jun-01 -0.61% 0.52% 210.28% 2.30 -2.54% 58.90% 14,560.00
31 Jul-01 -5.54% 1.33% 208.68% 2.43 5.65% 63.04% 13,754.00
32 Aug-01 -6.64% 0.70% 204.63% 2.55 4.94% 54.32% 12,841.00
33 2001 3T Sep-01 -17.17% 0.28% 202.51% 2.67 4.71% 47.06% 10,636.00
34 Oct-01 6.85% 0.83% 201.66% 2.71 1.50% 40.45% 11,365.00
35 Nov-01 13.79% 0.71% 199.18% 2.53 -6.64% 38.38% 12,932.00
36 2001 4T Dec-01 5.00% 0.65% 197.07% 2.32 -8.30% 48.22% 13,578.00
37 Jan-02 -6.31% 0.52% 195.15% 2.42 4.31% 61.64% 12,721.00
38 Feb-02 10.31% 0.36% 193.63% 2.35 -2.89% 54.96% 14,033.00
39 2002 1T Mar-02 -5.54% 0.60% 192.57% 2.32 -1.28% 59.57% 13,255.00
40 Apr-02 -1.28% 0.80% 190.83% 2.36 1.72% 61.64% 13,085.00
41 May-02 -1.71% 0.21% 188.52% 2.52 6.78% 58.90% 12,861.00
42 2002 2T Jun-02 -13.39% 0.42% 187.92% 2.84 12.70% 48.81% 11,139.00
43 Jul-02 -12.35% 1.19% 186.71% 3.43 20.77% 32.04% 9,763.00
44 Aug-02 6.34% 0.65% 183.34% 3.02 -11.95% 9.33% 10,382.00
45 2002 3T Sep-02 -16.94% 0.72% 181.51% 3.89 28.81% 24.17% 8,623.00
46 Oct-02 17.92% 1.31% 179.50% 3.64 -6.43% -3.60% 10,168.00
47 Nov-02 3.35% 3.02% 175.88% 3.64 0.00% 3.02% 10,509.00
48 2002 4T Dec-02 7.22% 2.10% 167.80% 3.53 -3.02% 3.02% 11,268.00
49 Jan-03 -2.90% 2.25% 162.29% 3.53 0.00% 6.23% 10,941.00
50 Feb-03 -6.03% 1.57% 156.52% 3.56 0.85% 6.23% 10,281.00
51 2003 1T Mar-03 9.66% 1.23% 152.55% 3.35 -5.90% 5.34% 11,274.00
52 Apr-03 11.38% 0.97% 149.48% 2.89 -13.73% 11.94% 12,557.00
53 May-03 6.89% 0.61% 147.09% 2.97 2.77% 29.76% 13,422.00
54 2003 2T Jun-03 -3.35% -0.15% 145.59% 2.87 -3.37% 26.26% 12,973.00
55 Jul-03 4.62% 0.20% 145.96% 2.97 3.48% 30.66% 13,572.00
56 Aug-03 11.80% 0.34% 145.47% 2.97 0.00% 26.26% 15,174.00
57 2003 3T Sep-03 5.52% 0.78% 144.63% 2.92 -1.68% 26.26% 16,011.00
58 Oct-03 12.31% 0.29% 142.74% 2.86 -2.05% 28.42% 17,982.00
59 Nov-03 12.25% 0.34% 142.04% 2.95 3.15% 31.12% 20,184.00
60 2003 4T Dec-03 10.17% 0.52% 141.22% 2.89 -2.03% 27.12% 22,236.00
61 Jan-04 -1.73% 0.76% 139.97% 2.94 1.73% 29.76% 21,851.00
62 Feb-04 -0.44% 0.61% 138.16% 2.91 -1.02% 27.55% 21,755.00
63 2004 1T Mar-04 1.78% 0.47% 136.72% 2.91 0.00% 28.87% 22,142.00
64 Apr-04 -11.45% 0.37% 135.61% 2.94 1.03% 28.87% 19,607.00
65 May-04 -0.32% 0.51% 134.74% 3.13 6.46% 27.55% 19,545.00
66 2004 2T Jun-04 8.21% 0.71% 133.55% 3.11 -0.64% 19.81% 21,149.00
67 Jul-04 5.62% 0.91% 131.90% 3.03 -2.57% 20.58% 22,337.00
68 Aug-04 2.09% 0.69% 129.81% 2.93 -3.30% 23.76% 22,803.00
69 2004 3T Sep-04 1.94% 0.33% 128.24% 2.86 -2.39% 27.99% 23,245.00
70 Oct-04 -0.83% 0.44% 127.49% 2.86 0.00% 31.12% 23,052.00
71 Nov-04 9.01% 0.69% 126.49% 2.73 -4.55% 31.12% 25,128.00
72 2004 4T Dec-04 4.25% 0.86% 124.94% 2.65 -2.93% 37.36% 26,196.00
73 Jan-05 -7.04% 0.58% 123.02% 2.62 -1.13% 41.51% 24,351.00
74 Feb-05 15.56% 0.59% 121.73% 2.60 -0.76% 43.13% 28,139.00
75 2005 1T Mar-05 -5.43% 0.61% 120.43% 2.67 2.69% 44.23% 26,611.00
76 Apr-05 -6.64% 0.87% 119.10% 2.53 -5.24% 40.45% 24,844.00
77 May-05 1.46% 0.49% 117.21% 2.40 -5.14% 48.22% 25,207.00
78 2005 2T Jun-05 -0.62% -0.02% 116.15% 2.35 -2.08% 56.25% 25,051.00
79 Jul-05 3.96% 0.25% 116.19% 2.39 1.70% 59.57% 26,042.00
80 Aug-05 7.69% 0.17% 115.65% 2.36 -1.26% 56.90% 28,045.00
81 2005 3T Sep-05 12.62% 0.35% 115.29% 2.22 -5.93% 58.90% 31,584.00
82 Oct-05 -4.40% 0.75% 114.54% 2.25 1.35% 68.92% 30,194.00
83 Nov-05 5.71% 0.55% 112.94% 2.21 -1.78% 66.67% 31,917.00
84 2005 4T Dec-05 4.82% 0.36% 111.77% 2.34 5.88% 69.68% 33,456.00
85 Jan-06 14.73% 0.59% 111.01% 2.22 -5.13% 60.26% 38,383.00
 86 Feb-06 0.59% 0.41% 109.78% 2.14 -3.60% 68.92% 38,610.00
87 2006 1T Mar-06 -1.70% 0.43% 108.92% 2.17 1.40% 75.23% 37,952.00
88 Apr-06 6.35% 0.21% 108.02% 2.09 -3.69% 72.81% 40,363.00
89 May-06 -9.50% 0.10% 107.59% 2.30 10.05% 79.43% 36,530.00
90 2006 2T Jun-06 0.28% -0.21% 107.38% 2.16 -6.09% 63.04% 36,631.00
91 Jul-06 1.22% 0.19% 107.82% 2.18 0.93% 73.61% 37,077.00
92 Aug-06 -2.28% 0.05% 107.42% 2.14 -1.83% 72.02% 36,232.00
93 2006 3T Sep-06 0.60% 0.21% 107.32% 2.17 1.40% 75.23% 36,449.00
94 Oct-06 7.72% 0.33% 106.89% 2.14 -1.38% 72.81% 39,263.00
95 Nov-06 6.80% 0.31% 106.21% 2.17 1.40% 75.23% 41,932.00
96 2006 4T Dec-06 6.06% 0.48% 105.57% 2.14 -1.38% 72.81% 44,474.00
97 Jan-07 0.38% 0.44% 104.59% 2.12 -0.93% 75.23% 44,642.00
98 Feb-07 -1.68% 0.44% 103.69% 2.12 0.00% 76.89% 43,892.00
99 2007 1T Mar-07 4.36% 0.37% 102.80% 2.05 -3.30% 76.89% 45,805.00
100 Apr-07 6.88% 0.25% 102.05% 2.03 -0.98% 82.93% 48,956.00
101 May-07 6.77% 0.28% 101.55% 1.93 -4.93% 84.73% 52,268.00
102 2007 2T Jun-07 4.06% 0.28% 100.98% 1.93 0.00% 94.30% 54,392.00
103 Jul-07 -0.38% 0.24% 100.42% 1.88 -2.59% 94.30% 54,183.00
104 Aug-07 0.84% 0.47% 99.94% 1.96 4.26% 99.47% 54,637.00
105 2007 3T Sep-07 10.67% 0.18% 99.01% 1.84 -6.12% 91.33% 60,465.00
106 Oct-07 8.03% 0.30% 98.65% 1.74 -5.43% 103.80% 65,318.00
107 Nov-07 -3.54% 0.38% 98.06% 1.78 2.30% 115.52% 63,006.00
108 2007 4T Dec-07 1.40% 0.74% 97.31% 1.77 -0.56% 110.67% 63,886.00
109 Jan-08 -6.88% 0.54% 95.86% 1.76 -0.56% 111.86% 59,490.00
110 Feb-08 6.72% 0.49% 94.80% 1.68 -4.55% 113.07% 63,489.00
111 2008 1T Mar-08 -3.97% 0.48% 93.85% 1.75 4.17% 123.21% 60,968.00
112 Apr-08 11.32% 0.55% 92.93% 1.69 -3.43% 114.29% 67,868.00
113 May-08 6.96% 0.79% 91.87% 1.63 -3.55% 121.89% 72,593.00
114 2008 2T Jun-08 -10.43% 0.74% 90.37% 1.59 -2.45% 130.06% 65,018.00
115 Jul-08 -8.48% 0.53% 88.97% 1.57 -1.26% 135.85% 59,505.00
116 Aug-08 -6.43% 0.28% 87.97% 1.63 3.82% 138.85% 55,680.00
117 2008 3T Sep-08 -11.03% 0.26% 87.45% 1.91 17.18% 130.06% 49,541.00
118 Oct-08 -24.80% 0.45% 86.96% 2.12 10.99% 96.34% 37,257.00
119 Nov-08 -1.77% 0.36% 86.13% 2.33 9.91% 76.89% 36,596.00
120 2008 4T Dec-08 2.61% 0.28% 85.46% 2.34 0.43% 60.94% 37,550.00
121 Jan-09 4.66% 0.48% 84.94% 2.32 -0.85% 60.26% 39,301.00
122 Feb-09 -2.84% 0.55% 84.06% 2.38 2.59% 61.64% 38,183.00
123 2009 1T Mar-09 7.18% 0.20% 83.05% 2.32 -2.52% 57.56% 40,926.00
124 Apr-09 15.55% 0.48% 82.68% 2.18 -6.03% 61.64% 47,290.00
125 May-09 12.49% 0.47% 81.81% 1.97 -9.63% 72.02% 53,198.00
126 2009 2T Jun-09 -3.26% 0.36% 80.96% 1.95 -1.02% 90.36% 51,465.00
127 Jul-09 6.41% 0.24% 80.31% 1.87 -4.10% 92.31% 54,766.00
128 Aug-09 3.15% 0.15% 79.88% 1.89 1.07% 100.53% 56,489.00
129 2009 3T Sep-09 8.90% 0.24% 79.61% 1.78 -5.82% 98.41% 61,518.00
130 Oct-09 0.05% 0.28% 79.18% 1.74 -2.25% 110.67% 61,546.00
131 Nov-09 8.93% 0.41% 78.68% 1.75 0.57% 115.52% 67,044.00
132 2009 4T Dec-09 2.30% 0.37% 77.95% 1.74 -0.57% 114.29% 68,588.00
133 Jan-10 -4.65% 0.75% 77.30% 1.87 7.47% 115.52% 65,402.00
134 Feb-10 1.68% 0.78% 75.98% 1.81 -3.21% 100.53% 66,503.00
135 2010 1T Mar-10 5.82% 0.52% 74.61% 1.78 -1.66% 107.18% 70,372.00
136 Apr-10 -4.04% 0.57% 73.71% 1.73 -2.81% 110.67% 67,529.27
137 May-10 -6.64% 0.43% 72.73% 1.82 5.20% 116.76% 63,045.33
138 2010 2T Jun-10 -3.35% 0.00% 71.99% 1.80 -1.10% 106.04% 60,933.31
139 Jul-10 10.80% 0.01% 71.99% 1.76 -2.22% 108.33% 67,514.11
140 Aug-10 -3.51% 0.04% 71.97% 1.76 0.00% 113.07% 65,145.45
141 2010 3T Sep-10 6.58% 0.45% 71.90% 1.69 -3.98% 113.07% 69,429.78
142 Oct-10 1.79% 0.75% 71.13% 1.70 0.59% 121.89% 70,673.30
143 Nov-10 -4.20% 0.83% 69.86% 1.72 1.18% 120.59% 67,705.40
144 2010 4T Dec-10 2.36% 0.63% 68.46% 1.67 -2.91% 118.02% 69,304.81
145 Jan-11 -3.94% 0.83% 67.40% 1.67 0.00% 124.55% 66,574.88
146 Feb-11 1.21% 0.80% 66.03% 1.66 -0.60% 124.55% 67,383.22
147 2011 1T Mar-11 1.79% 0.79% 64.71% 1.63 -1.81% 125.90% 68,586.70
148 Apr-11 -3.58% 0.77% 63.42% 1.57 -3.68% 130.06% 66,132.86
149 May-11 -2.29% 0.47% 62.17% 1.58 0.64% 138.85% 64,618.42
150 2011 2T Jun-11 -3.43% 0.15% 61.41% 1.56 -1.27% 137.34% 62,404.00
151 Jul-11 -5.74% 0.16% 61.17% 1.56 0.00% 140.38% 58,823.00
152 Aug-11 -3.96% 0.37% 60.91% 1.59 1.92% 140.38% 56,495.00
153 2011 3T Sep-11 -7.38% 0.53% 60.32% 1.85 16.35% 135.85% 52,324.00
154 Oct-11 11.49% 0.43% 59.47% 1.69 -8.65% 102.70% 58,338.00
155 Nov-11 -2.51% 0.52% 58.79% 1.81 7.10% 121.89% 56,875.00
156 2011 4T Dec-11 -0.21% 0.50% 57.97% 1.88 3.87% 107.18% 56,754.00
157 Jan-12 11.13% 0.56% 57.18% 1.74 -7.45% 99.47% 63,072.00
158 Feb-12 4.34% 0.45% 56.31% 1.71 -1.72% 115.52% 65,812.00
159 2012 1T Mar-12 -1.98% 0.21% 55.61% 1.82 6.43% 119.30% 64,511.00
160 Apr-12 -4.17% 0.64% 55.28% 1.89 3.85% 106.04% 61,820.00
161 May-12 -11.86% 0.36% 54.29% 2.02 6.88% 98.41% 54,490.00
162 2012 2T Jun-12 -0.25% 0.08% 53.74% 2.02 0.00% 85.64% 54,355.00
163 Jul-12 3.20% 0.43% 53.62% 2.05 1.49% 85.64% 56,097.00
164 Aug-12 1.72% 0.41% 52.96% 2.04 -0.49% 82.93% 57,061.00
165 2012 3T Sep-12 3.71% 0.57% 52.33% 2.03 -0.49% 83.82% 59,176.00
166 Oct-12 -3.56% 0.59% 51.47% 2.03 0.00% 84.73% 57,068.00
167 Nov-12 0.71% 0.60% 50.58% 2.11 3.94% 84.73% 57,475.00
168 2012 4T Dec-12 6.05% 0.79% 49.68% 2.04 -3.32% 77.73% 60,952.00
169 Jan-13 -1.95% 0.86% 48.51% 1.99 -2.45% 83.82% 59,761.00
170 Feb-13 -3.91% 0.60% 47.24% 1.98 -0.50% 88.44% 57,424.00
171 2013 1T Mar-13 -1.87% 0.47% 46.37% 2.01 1.52% 89.39% 56,352.00
172 Apr-13 -0.78% 0.55% 45.68% 2.00 -0.50% 86.57% 55,910.00
173 May-13 -4.30% 0.37% 44.88% 2.13 6.50% 87.50% 53,506.00
174 2013 2T Jun-13 -11.31% 0.26% 44.35% 2.21 3.76% 76.06% 47,457.00
175 Jul-13 1.64% 0.03% 43.98% 2.29 3.62% 69.68% 48,234.00
176 Aug-13 3.68% 0.24% 43.93% 2.37 3.49% 63.76% 50,008.00
177 2013 3T Sep-13 4.66% 0.35% 43.59% 2.23 -5.91% 58.23% 52,338.00
178 Oct-13 3.66% 0.57% 43.09% 2.20 -1.35% 68.16% 54,256.00
179 Nov-13 -3.27% 0.54% 42.28% 2.32 5.45% 70.45% 52,482.00
180 2013 4T Dec-13 -1.86% 0.92% 41.51% 2.34 0.86% 61.64% 51,507.00
181 Jan-14 -7.51% 0.55% 40.22% 2.43 3.85% 60.26% 47,639.00
182 Feb-14 -1.14% 0.69% 39.46% 2.33 -4.12% 54.32% 47,094.00
183 2014 1T Mar-14 7.05% 0.92% 38.50% 2.26 -3.00% 60.94% 50,415.00
184 Apr-14 2.40% 0.67% 37.24% 2.24 -0.88% 65.93% 51,627.00
185 May-14 -0.75% 0.46% 36.32% 2.24 0.00% 67.41% 51,239.00
186 2014 2T Jun-14 3.76% 0.40% 35.70% 2.20 -1.79% 67.41% 53,168.00
187 Jul-14 5.00% 0.01% 35.16% 2.27 3.18% 70.45% 55,829.00
188 Aug-14 9.78% 0.25% 35.15% 2.24 -1.32% 65.20% 61,288.00
189 2014 3T Sep-14 -11.70% 0.57% 34.81% 2.45 9.38% 67.41% 54,116.00
190 Oct-14 0.95% 0.42% 34.04% 2.44 -0.41% 53.06% 54,629.00
191 Nov-14 0.06% 0.51% 33.48% 2.56 4.92% 53.69% 54,664.00
192 2014 4T Dec-14 -8.52% 0.78% 32.81% 2.66 3.91% 46.48% 50,007.00
193 Jan-15 -6.20% 1.24% 31.78% 2.66 0.00% 40.98% 46,908.00
194 Feb-15 9.97% 1.22% 30.16% 2.88 8.27% 40.98% 51,583.00
195 2015 1T Mar-15 -0.84% 1.32% 28.60% 3.26 13.19% 30.21% 51,150.00
196 Apr-15 9.93% 0.71% 26.92% 2.99 -8.28% 15.03% 56,229.00
197 May-15 -6.17% 0.74% 26.03% 3.18 6.35% 25.42% 52,760.00
198 2015 2T Jun-15 0.61% 0.79% 25.10% 3.10 -2.52% 17.92% 53,081.00
199 Jul-15 -4.17% 0.62% 24.12% 3.39 9.35% 20.97% 50,865.00
200 Aug-15 -8.33% 0.22% 23.35% 3.65 7.67% 10.62% 46,626.00
201 2015 3T Sep-15 -3.36% 0.54% 23.08% 3.97 8.77% 2.74% 45,059.00
202 Oct-15 1.80% 0.82% 22.42% 3.86 -2.77% -5.54% 45,869.00
203 Nov-15 -1.63% 1.01% 21.43% 3.85 -0.26% -2.85% 45,120.00
204 2015 4T Dec-15 -3.92% 0.96% 20.21% 3.90 1.30% -2.60% 43,350.00
205 Jan-16 -6.79% 1.27% 19.07% 4.04 3.59% -3.85% 40,406.00
206 Feb-16 5.91% 0.90% 17.58% 3.98 -1.49% -7.18% 42,794.00
207 2016 1T Mar-16 16.97% 0.43% 16.53% 3.56 -10.55% -5.78% 50,055.00
208 Apr-16 7.70% 0.61% 16.03% 3.45 -3.09% 5.34% 53,911.00
209 May-16 -10.09% 0.78% 15.33% 3.59 4.06% 8.70% 48,472.00
210 2016 2T Jun-16 6.30% 0.35% 14.43% 3.21 -10.58% 4.46% 51,527.00
211 Jul-16 11.22% 0.52% 14.03% 3.24 0.93% 16.82% 57,308.00
212 Aug-16 1.03% 0.44% 13.44% 3.24 0.00% 15.74% 57,901.00
213 2016 3T Sep-16 0.80% 0.08% 12.95% 3.25 0.31% 15.74% 58,367.00
214 Oct-16 11.24% 0.26% 12.86% 3.18 -2.15% 15.38% 64,925.00
215 Nov-16 -4.65% 0.18% 12.56% 3.40 6.92% 17.92% 61,906.00
216 2016 4T Dec-16 -2.71% 0.30% 12.36% 3.26 -4.12% 10.29% 60,227.00
217 Jan-17 7.38% 0.38% 12.03% 3.13 -3.99% 15.03% 64,671.00
218 Feb-17 3.08% 0.33% 11.60% 3.10 -0.96% 19.81% 66,662.00
219 2017 1T Mar-17 -2.52% 0.25% 11.23% 3.17 2.26% 20.97% 64,984.00
220 Apr-17 0.64% 0.14% 10.96% 3.20 0.95% 18.30% 65,403.00
221 May-17 -4.12% 0.31% 10.80% 3.24 1.25% 17.19% 62,711.00
222 2017 2T Jun-17 0.30% -0.23% 10.46% 3.31 2.16% 15.74% 62,900.00
223 Jul-17 4.80% 0.24% 10.71% 3.13 -5.44% 13.29% 65,920.00
224 Aug-17 7.46% 0.19% 10.45% 3.15 0.64% 19.81% 70,835.00
225 2017 3T Sep-17 4.88% 0.16% 10.24% 3.17 0.63% 19.05% 74,294.00
226 Oct-17 0.02% 0.42% 10.06% 3.28 3.47% 18.30% 74,308.00
227 Nov-17 -2.42% 0.28% 9.60% 3.26 -0.61% 14.33% 72,512.00
228 2017 4T Dec-17 5.36% 0.44% 9.30% 3.31 1.53% 15.03% 76,402.00
229 Jan-18 11.14% 0.29% 8.82% 3.16 -4.53% 13.29% 84,913.00
230 Feb-18 0.67% 0.32% 8.50% 3.24 2.53% 18.67% 85,481.00
231 2018 1T Mar-18 -0.13% 0.09% 8.16% 3.32 2.47% 15.74% 85,366.00
232 Apr-18 0.88% 0.22% 8.06% 3.48 4.82% 12.95% 86,115.50
233 May-18 -10.87% 0.40% 7.82% 3.74 7.47% 7.76% 76,753.62
234 2018 2T Jun-18 -5.20% 1.26% 7.39% 3.86 3.21% 0.27% 72,762.52
235 Jul-18 8.88% 0.33% 6.06% 3.75 -2.85% -2.85% 79,220.44
236 Aug-18 -3.22% -0.09% 5.71% 4.13 10.13% 0.00% 76,667.53
237 2018 3T Sep-18 3.49% 0.48% 5.80% 4.00 -3.15% -9.20% 79,342.43
238 Oct-18 10.19% 0.45% 5.30% 3.72 -7.00% -6.25% 87,423.55
239 Nov-18 2.38% -0.21% 4.83% 3.86 3.76% 0.81% 89,504.03
240 2018 4T Dec-18 -1.81% 0.15% 5.05% 3.87 0.26% -2.85% 87,887.27
241 Jan-19 10.82% 0.32% 4.89% 3.65 -5.68% -3.10% 97,393.75
242 Feb-19 -1.86% 0.75% 4.55% 3.74 2.47% 2.74% 95,584.35
243 2019 1T Mar-19 -0.18% 1.51% 3.78% 3.90 4.28% 0.27% 95,414.55
244 Apr-19 0.98% 2.09% 2.23% 3.95 1.28% -3.85% 96,353.33
245 May-19 0.70% 0.13% 0.14% 3.94 -0.25% -5.06% 97,030.32
246 2019 2T Jun-19 4.06% 0.01% 0.01% 3.86 -2.03% -4.82% 100,967.20
247 Jul-19 4.14% 3.75 -2.85% -2.85% 105,146.44
248 Aug-19
249 2019 3T Sep-19
250 Oct-19
251 Nov-19
252 2019 4T Dec-19
253 Jan-20
254 Feb-20
255 Mar-20
256 Apr-20
257 May-20
258 Jun-20
259 Jul-20
260 Aug-20
261 Sep-20
262 Oct-20
263 Nov-20
264 Dec-20
265 Jan-21
266 Feb-21
267 Mar-21
268 Apr-21
269 May-21
270 Jun-21
271 Jul-21
272 Aug-21
273 Sep-21
274 Oct-21
275 Nov-21
276 Dec-21
277 Jan-22
278 Feb-22
279 Mar-22
280 Apr-22
281 May-22
282 Jun-22
283 Jul-22
284 Aug-22
285 Sep-22
286 Oct-22
287 Nov-22
288 Dec-22
 P/L TTM com Interpolação Linear entre os Trimestres

105,146.44 105,146.44 15.45 16.80 20.37 16.80 16.80

Ibovespa Real Ibovespa Dólar P/L Ibov (L) (L) 12 M P/L PE SP500 P/L Real P/L Dólar
29,774.35 15,477.27 ND 32.92
32,129.51 16,221.48 ND 32.67
38,145.90 23,319.77 ND 33.39
40,256.44 25,642.32 ND 34
39,213.16 24,178.78 ND 33.19
41,033.98 24,633.47 0.00 32.24
36,454.52 21,875.70 ND 32.88
36,678.54 20,634.77 ND 30.89
38,437.57 21,691.41 3.25 3,415.23 29.99
40,017.18 22,500.00 ND 2,810.33 28.66
46,684.43 26,912.11 ND 2,205.43 29.74
57,563.77 35,807.26 10.68 1,600.53 29.66
54,852.70 34,141.67 ND 1,952.86 2,507.88 6.53 29.04 21.87 13.61
59,033.50 37,415.25 ND 2,305.20 2,396.88 7.37 27.76 24.63 15.61
59,437.58 38,185.71 6.71 2,657.54 2,381.60 7.48 28.31 24.96 16.03
51,609.34 32,191.99 ND 2,645.36 2,421.02 6.42 28.50 21.32 13.30
49,674.59 30,649.59 ND 2,633.19 2,449.06 6.11 27.49 20.28 12.51
55,428.88 34,850.00 6.38 2,621.02 2,469.52 6.77 28.16 22.45 14.11
53,660.35 34,862.29 ND 2,217.32 2,484.67 6.62 28.05 21.60 14.03
55,837.72 35,742.45 ND 1,813.63 2,460.36 7.05 27.97 22.69 14.53
51,152.49 32,461.96 11.30 1,409.93 2,406.47 6.62 27.34 21.26 13.49
47,678.36 29,189.14 ND 1,465.26 2,239.36 6.64 26.50 21.29 13.03
42,475.39 25,421.56 ND 1,520.59 2,127.27 6.25 26.90 19.97 11.95
48,493.30 29,194.52 9.68 1,575.91 2,070.20 7.37 26.62 23.42 14.10
55,846.69 33,641.50 ND 1,632.22 2,068.15 8.55 27.55 27.00 16.27
49,985.64 29,068.90 ND 1,688.53 2,041.43 7.78 27.81 24.49 14.24
45,243.26 25,065.97 8.27 1,744.84 1,990.04 7.26 26.10 22.73 12.60
46,477.82 25,661.70 ND 1,609.56 1,913.98 7.79 27.96 24.28 13.41
45,456.48 23,278.60 ND 1,474.27 1,827.67 8.02 32.02 24.87 12.74
44,943.52 23,739.13 10.87 1,338.99 1,731.09 8.41 33.67 25.96 13.71
41,898.33 21,225.31 ND 1,248.15 1,624.25 8.47 35.46 25.80 13.07
38,845.17 18,883.82 ND 1,157.32 1,543.49 8.32 37.85 25.17 12.23
32,085.01 14,938.20 9.97 1,066.49 1,488.80 7.14 36.90 21.55 10.03
34,001.93 15,726.48 ND 1,374.35 1,460.18 7.78 39.72 23.29 10.77
38,417.34 19,167.98 ND 1,682.22 1,452.60 8.90 43.62 26.45 13.20
40,075.93 21,947.20 6.82 1,990.08 1,466.07 9.26 46.37 27.34 14.97
37,352.23 19,712.29 ND 1,924.01 1,500.59 8.48 46.17 24.89 13.14
41,056.81 22,393.09 ND 1,857.93 1,524.90 9.20 44.57 26.92 14.68
38,549.29 21,425.11 7.40 1,791.85 1,539.02 8.61 46.71 25.05 13.92
37,752.86 20,791.84 ND 1,780.42 1,542.94 8.48 43.81 24.47 13.48
37,028.81 19,138.39 ND 1,768.99 1,557.17 8.26 41.41 23.78 12.29
31,936.77 14,708.19 6.34 1,757.56 1,581.73 7.04 37.92 20.19 9.30
27,662.44 10,673.83 ND 1,645.73 1,616.62 6.04 32.46 17.11 6.60
29,226.34 12,891.56 ND 1,533.90 1,649.75 6.29 31.53 17.72 7.81
24,101.06 8,312.66 6.06 1,422.07 1,681.13 5.13 28.89 14.34 4.94
28,051.81 10,475.27 ND 1,578.45 1,710.76 5.94 29.24 16.40 6.12
28,142.67 10,826.58 ND 1,734.84 1,727.77 6.08 32.03 16.29 6.27
29,554.59 11,970.25 5.96 1,891.22 1,732.15 6.51 32.59 17.06 6.91
28,065.44 11,622.88 ND 1,913.75 1,723.91 6.35 31.43 16.28 6.74
25,964.79 10,829.71 ND 1,936.29 1,723.06 5.97 28.46 15.07 6.29
28,126.66 12,620.15 5.76 1,958.82 1,729.59 6.52 27.92 16.26 7.30
31,026.56 16,293.69 ND 2,124.85 1,743.50 7.20 28.05 17.80 9.35
32,962.78 16,946.97 ND 2,290.87 1,772.21 7.57 28.24 18.60 9.56
31,907.96 16,950.78 5.28 2,456.89 1,815.70 7.14 28.60 17.57 9.34
33,314.61 17,136.36 ND 2,525.06 1,873.97 7.24 27.65 17.78 9.14
37,120.76 19,159.09 ND 2,593.23 1,947.25 7.79 26.57 19.06 9.84
38,865.19 20,562.07 6.02 2,661.39 2,035.53 7.87 26.42 19.09 10.10
43,523.39 23,577.80 ND 2,382.65 2,138.80 8.41 24.75 20.35 11.02
48,687.55 25,657.63 ND 2,103.90 2,205.82 9.15 23.15 22.07 11.63
53,359.88 28,852.94 12.18 1,825.15 2,236.58 9.94 22.17 23.86 12.90
52,040.49 27,871.17 ND 1,928.80 2,231.07 9.79 22.73 23.33 12.49
51,497.72 28,034.79 ND 2,032.45 2,232.32 9.75 22.46 23.07 12.56
52,168.62 28,533.51 10.37 2,136.10 2,240.34 9.88 21.61 23.29 12.74
46,025.63 25,008.93 ND 2,158.53 2,255.11 8.69 21.23 20.41 11.09
45,647.28 23,416.53 ND 2,180.95 2,257.92 8.66 20.14 20.22 10.37
49,045.20 25,501.21 9.60 2,203.38 2,248.76 9.40 20.17 21.81 11.34
51,333.08 27,644.80 ND 2,387.96 2,227.63 10.03 19.51 23.04 12.41
52,044.89 29,184.73 ND 2,572.55 2,216.21 10.29 19.03 23.48 13.17
52,879.20 30,478.58 8.43 2,757.13 2,214.48 10.50 19.35 23.88 13.76
52,210.42 30,225.52 ND 2,575.38 2,222.46 10.37 19.25 23.49 13.60
56,522.35 34,516.48 ND 2,393.62 2,238.52 11.23 20.05 25.25 15.42
58,422.25 37,069.81 11.84 2,211.86 2,262.67 11.58 20.48 25.82 16.38
53,994.37 34,853.53 ND 2,639.67 2,294.89 10.61 19.99 23.53 15.19
62,027.68 40,585.10 ND 3,067.49 2,354.13 11.95 20.11 26.35 17.24
58,303.81 37,375.00 7.61 3,495.30 2,440.39 10.90 19.84 23.89 15.32
53,962.89 36,824.11 ND 3,239.18 2,553.65 9.73 19.02 21.13 14.42
54,484.38 39,385.94 ND 2,983.07 2,643.71 9.53 18.93 20.61 14.90
54,158.02 39,975.00 9.19 2,726.96 2,710.55 9.24 19.00 19.98 14.75
56,160.07 40,860.88 ND 2,997.08 2,754.18 9.46 19.00 20.39 14.84
60,376.94 44,563.03 ND 3,267.19 2,804.94 10.00 18.72 21.53 15.89
67,758.76 53,351.35 8.93 3,537.31 2,862.83 11.03 18.44 23.67 18.64
64,294.51 50,323.33 ND 3,344.70 2,927.84 10.31 17.64 21.96 17.19
67,591.68 54,157.81 ND 3,152.10 2,991.95 10.67 18.01 22.59 18.10
70,596.72 53,615.38 11.30 2,959.49 3,055.16 10.95 18.07 23.11 17.55
80,518.30 64,836.15 ND 3,183.31 3,117.46 12.31 18.07 25.83 20.80
80,663.77 67,657.71 ND 3,407.13 3,162.76 12.21 17.80 25.50 21.39
78,949.60 65,585.25 10.45 3,630.95 3,191.07 11.89 17.80 24.74 20.55
83,789.12 72,421.65 ND 3,499.16 3,202.37 12.60 17.77 26.16 22.61
75,756.48 59,559.78 ND 3,367.36 3,224.04 11.33 17.46 23.50 18.47
76,125.80 63,595.49 11.32 3,235.57 3,256.06 11.25 16.82 23.38 19.53
76,906.55 63,779.24 ND 3,462.04 3,298.45 11.24 16.61 23.32 19.34
75,116.26 63,490.65 ND 3,688.51 3,337.19 10.86 16.67 22.51 19.03
75,407.79 62,987.90 9.31 3,914.98 3,372.30 10.81 16.77 22.36 18.68
80,962.38 68,801.99 ND 3,992.83 3,403.77 11.54 17.14 23.79 20.21
86,198.78 72,463.13 ND 4,070.67 3,457.79 12.13 17.24 24.93 20.96
90,987.58 77,933.41 10.72 4,148.52 3,534.33 12.58 17.38 25.74 22.05
90,931.18 78,965.80 9.83 4,541.90 3,633.42 12.29 17.36 25.03 21.73
89,011.86 77,639.15 9.38 4,678.39 3,746.64 11.72 17.49 23.76 20.72
92,548.94 83,789.63 9.88 4,638.00 3,852.57 11.89 16.92 24.02 21.75
98,668.86 90,435.96 10.39 4,712.25 3,936.49 12.44 17.48 25.07 22.97
105,049.93 101,556.99 11.00 4,751.63 4,037.59 12.95 17.92 26.02 25.15
109,013.57 105,683.94 11.50 4,731.24 4,152.94 13.10 17.83 26.25 25.45
108,334.69 108,077.79 11.29 4,799.21 4,277.58 12.67 18.36 25.33 25.27
108,731.39 104,535.08 9.99 5,471.01 4,389.01 12.45 18.02 24.77 23.82
120,113.30 123,230.30 13.26 4,560.52 4,537.55 13.33 19.05 26.47 27.16
129,365.66 140,771.55 14.53 4,496.74 4,591.35 14.23 20.68 28.18 30.66
124,314.23 132,737.36 14.03 4,490.14 4,633.34 13.60 20.81 26.83 28.65
125,124.59 135,351.69 14.16 4,512.93 4,668.29 13.69 22.35 26.80 28.99
115,888.96 126,754.26 11.75 5,062.03 4,698.66 12.66 21.46 24.66 26.98
123,076.10 141,716.52 12.33 5,149.56 4,742.01 13.39 21.74 25.95 29.89
117,624.44 130,645.71 11.81 5,163.62 4,781.27 12.75 21.81 24.60 27.32
130,220.27 150,594.67 12.81 5,299.94 4,825.07 14.07 23.88 26.99 31.21
138,194.53 167,008.44 13.95 5,203.20 4,874.05 14.89 25.81 28.35 34.26
122,864.88 153,344.34 12.65 5,139.98 4,911.68 13.24 26.11 25.01 31.22
111,854.11 142,129.78 11.78 5,052.19 4,945.74 12.03 25.37 22.62 28.74
104,371.85 128,098.16 11.16 4,988.39 4,966.82 11.21 26.83 21.01 25.79
92,623.51 97,266.36 9.75 5,080.99 4,926.60 10.06 26.48 18.80 19.74
69,344.88 65,902.71 7.26 5,130.86 4,969.98 7.50 27.22 13.95 13.26
67,870.25 58,899.14 7.12 5,138.88 5,022.82 7.29 34.99 13.51 11.73
69,445.08 60,176.28 7.20 5,215.09 5,076.88 7.40 58.98 13.68 11.85
72,336.17 63,525.32 8.31 4,726.57 5,135.39 7.65 70.91 14.09 12.37
69,894.00 60,162.29 8.51 4,488.16 5,107.44 7.48 84.46 13.68 11.78
74,765.53 66,151.94 10.30 3,972.93 5,052.32 8.10 110.37 14.80 13.09
85,978.88 81,347.48 12.44 3,802.25 4,953.10 9.55 119.85 17.36 16.42
96,267.88 101,265.23 14.39 3,696.66 4,828.29 11.02 123.73 19.94 20.97
92,797.74 98,971.15 14.07 3,657.73 4,702.75 10.94 123.32 19.73 21.05
98,513.42 109,824.87 14.85 3,688.33 4,579.23 11.96 101.87 21.51 23.98
101,460.57 112,081.35 15.16 3,726.06 4,465.57 12.65 92.95 22.72 25.10
110,228.67 129,602.53 16.22 3,792.92 4,360.38 14.11 83.30 25.28 29.72
109,970.92 132,642.24 16.17 3,806.93 4,253.04 14.47 42.12 25.86 31.19
119,305.64 143,665.71 17.54 3,823.09 4,142.71 16.18 28.51 28.80 34.68
121,603.28 147,818.97 18.02 3,807.20 4,033.06 17.01 21.78 30.15 36.65
115,091.47 131,153.74 13.01 5,028.40 3,915.74 16.70 20.70 29.39 33.49
116,123.19 137,782.46 13.25 5,017.77 3,940.89 16.88 18.91 29.47 34.96
122,243.32 148,255.62 13.44 5,234.34 3,985.02 17.66 18.91 30.68 37.20
116,640.36 146,378.48 12.27 5,504.27 4,090.14 16.51 19.01 28.52 35.79
108,429.20 129,901.08 11.50 5,484.40 4,231.97 14.90 17.30 25.62 30.70
104,796.82 126,944.39 11.24 5,421.85 4,380.95 13.91 16.15 23.92 28.98
116,103.27 143,851.08 12.69 5,321.09 4,527.96 14.91 15.72 25.64 31.77
111,985.12 138,804.23 12.28 5,306.47 4,664.03 13.97 15.47 24.01 29.76
118,815.22 154,060.16 13.03 5,329.27 4,795.73 14.48 15.61 24.78 32.12
120,042.94 155,896.99 13.30 5,313.72 4,923.76 14.35 15.90 24.38 31.66
114,055.12 147,613.52 12.87 5,260.43 5,049.32 13.41 15.88 22.59 29.23
116,018.53 155,624.57 12.89 5,377.17 5,169.10 13.41 16.05 22.44 30.11
110,531.13 149,494.49 10.29 6,470.52 5,299.93 12.56 16.30 20.86 28.21
110,985.30 152,221.13 10.39 6,485.02 5,420.11 12.43 16.52 20.48 28.08
112,082.07 157,791.49 10.60 6,470.67 5,542.38 12.37 16.04 20.22 28.47
107,246.30 157,960.65 10.39 6,365.21 5,645.41 11.71 16.21 19.00 27.98
104,300.14 153,366.50 10.06 6,420.33 5,717.15 11.30 16.12 18.24 26.83
100,575.01 150,009.62 10.04 6,213.82 5,795.15 10.77 15.35 17.36 25.89
94,652.15 141,401.44 9.62 6,112.51 5,861.14 10.04 15.61 16.15 24.13
90,571.05 133,242.92 9.43 5,991.06 5,927.10 9.53 13.79 15.28 22.48
83,441.99 106,062.16 8.93 5,856.09 5,984.14 8.74 13.50 13.94 17.72
92,634.29 129,448.22 10.38 5,621.38 6,028.05 9.68 13.88 15.37 21.47
89,844.02 117,834.94 10.16 5,599.68 6,053.68 9.40 14.10 14.84 19.46
89,206.85 113,206.12 10.20 5,566.03 6,081.96 9.33 14.30 14.67 18.61
98,585.50 135,931.03 10.17 6,201.96 6,097.69 10.34 14.87 16.17 22.29
102,407.46 144,324.56 10.95 6,008.39 6,075.31 10.83 15.37 16.86 23.76
100,172.66 132,921.02 10.83 5,954.06 6,035.59 10.69 15.69 16.60 22.02
95,383.62 122,658.73 10.57 5,848.09 5,992.54 10.32 15.70 15.92 20.47
83,772.40 101,157.18 9.42 5,785.10 5,949.45 9.16 15.22 14.08 17.00
83,498.06 100,906.56 9.97 5,453.94 5,896.51 9.22 15.05 14.16 17.11
85,805.09 102,616.46 10.99 5,105.03 5,833.19 9.62 15.55 14.71 17.59
86,923.22 104,891.54 12.24 4,661.70 5,749.23 9.92 16.14 15.12 18.24
89,634.17 109,315.27 14.09 4,199.71 5,638.45 10.50 16.69 15.90 19.39
85,934.16 105,421.18 15.34 3,720.27 5,500.42 10.38 16.62 15.62 19.17
86,030.84 102,147.51 16.32 3,521.32 5,342.00 10.76 16.12 16.10 19.12
90,520.24 112,044.12 17.57 3,468.12 5,168.80 11.79 16.44 17.51 21.68
87,994.73 112,614.95 11.59 5,156.66 4,993.97 11.97 17.03 17.62 22.55
84,049.33 108,757.58 11.83 4,853.48 4,906.87 11.70 17.32 17.13 22.16
82,094.44 105,134.33 11.60 4,857.81 4,810.62 11.71 17.68 17.07 21.85
81,005.00 104,831.25 11.53 4,848.78 4,719.27 11.85 17.69 17.16 22.21
77,236.20 94,200.70 12.07 4,434.39 4,635.99 11.54 18.25 16.66 20.32
68,326.79 80,526.58 10.75 4,413.50 4,523.43 10.49 17.80 15.11 17.80
69,424.65 78,985.81 11.59 4,161.95 4,436.73 10.87 18.12 15.65 17.80
71,805.69 79,126.58 12.62 3,961.58 4,358.14 11.47 17.91 16.48 18.16
74,889.19 88,012.33 13.53 3,869.65 4,299.80 12.17 17.88 17.42 20.47
77,193.61 92,481.82 14.88 3,646.15 4,272.29 12.70 17.86 18.07 21.65
74,268.57 84,830.82 14.09 3,725.10 4,266.11 12.30 18.15 17.41 19.88
72,224.36 82,543.27 13.97 3,686.23 4,283.10 12.03 18.04 16.86 19.27
66,435.16 73,516.98 9.54 4,993.02 4,301.27 11.08 18.15 15.45 17.09
65,225.08 75,795.06 9.49 4,963.13 4,287.64 10.98 18.06 15.21 17.68
69,188.12 83,653.21 10.21 4,937.13 4,296.77 11.73 18.48 16.10 19.47
70,379.89 86,429.13 10.44 4,944.53 4,303.38 12.00 18.35 16.35 20.08
69,531.11 85,779.58 10.64 4,817.87 4,311.36 11.88 18.46 16.13 19.90
71,861.31 90,627.27 11.11 4,783.73 4,343.32 12.24 18.88 16.55 20.87
75,450.35 92,228.52 11.96 4,669.39 4,374.17 12.76 18.96 17.25 21.08
82,621.38 102,602.68 13.25 4,625.73 4,416.46 13.88 18.68 18.71 23.23
72,539.45 82,830.61 11.89 4,551.32 4,471.80 12.10 18.81 16.22 18.52
72,920.83 83,958.50 12.47 4,382.01 4,528.61 12.06 18.50 16.10 18.54
72,597.30 80,074.22 12.77 4,281.89 4,589.93 11.91 19.75 15.82 17.45
65,898.50 70,498.59 11.92 4,196.93 4,636.33 10.79 20.08 14.21 15.21
61,057.57 66,129.70 10.65 4,405.22 4,678.89 10.03 20.02 13.05 14.13
66,333.49 67,165.36 12.13 4,251.52 4,629.91 11.14 20.77 14.33 14.51
64,919.73 58,838.19 12.58 4,067.52 4,570.61 11.19 20.96 14.20 12.87
70,862.88 70,521.32 15.17 3,705.54 4,498.14 12.50 21.42 15.75 15.68
66,002.64 62,216.98 14.27 3,696.18 4,394.89 12.00 21.92 15.02 14.16
65,883.73 64,210.89 14.29 3,713.92 4,301.42 12.34 22.12 15.32 14.93
62,744.23 56,266.59 13.75 3,699.54 4,212.26 12.08 22.40 14.90 13.36
57,388.98 47,903.42 12.76 3,654.44 4,131.44 11.29 22.15 13.89 11.59
55,162.38 42,562.03 12.70 3,548.22 4,050.50 11.12 21.45 13.62 10.51
55,697.29 44,561.85 12.81 3,580.01 3,966.91 11.56 22.68 14.04 11.23
54,239.98 43,948.05 13.18 3,422.19 3,900.08 11.57 23.67 13.91 11.27
51,616.69 41,682.69 12.76 3,397.49 3,828.44 11.32 23.74 13.48 10.89
47,507.93 37,505.57 10.42 3,876.03 3,761.82 10.74 22.18 12.63 9.97
49,866.86 40,320.98 11.75 3,641.04 3,717.72 11.51 22.02 13.41 10.85
58,078.19 52,726.47 14.06 3,560.90 3,666.84 13.65 23.39 15.84 14.38
62,173.01 58,598.91 14.91 3,616.82 3,624.62 14.87 23.97 17.15 16.17
55,467.82 50,632.31 12.35 3,924.35 3,617.23 13.40 23.81 15.33 14.00
58,758.08 60,195.09 13.15 3,918.10 3,636.25 14.17 23.97 16.16 16.55
65,012.30 66,328.70 14.29 4,011.50 3,653.26 15.69 24.52 17.80 18.16
65,397.27 67,015.05 14.86 3,897.47 3,679.26 15.74 24.57 17.77 18.21
65,870.91 67,346.54 14.75 3,957.79 3,699.51 15.78 24.22 17.81 18.20
73,082.02 76,562.50 15.96 4,067.93 3,733.64 17.39 23.57 19.57 20.51
69,558.51 68,278.68 16.09 3,848.03 3,774.30 16.40 23.35 18.43 18.09
67,469.56 69,279.52 15.53 3,879.02 3,809.79 15.81 23.76 17.71 18.18
72,173.71 77,481.23 12.77 5,063.92 3,849.91 16.80 23.59 18.75 20.13
74,150.99 80,639.52 12.79 5,213.68 3,948.91 16.88 23.68 18.78 20.42
72,104.22 76,873.82 12.11 5,365.39 4,079.96 15.93 23.60 17.67 18.84
72,467.67 76,644.14 12.22 5,352.18 4,230.33 15.46 23.24 17.13 18.12
69,270.15 72,582.18 11.52 5,443.16 4,374.95 14.33 23.31 15.83 16.59
69,639.09 71,261.33 11.71 5,369.94 4,501.51 13.97 23.40 15.47 15.83
72,807.91 78,977.64 12.54 5,256.27 4,622.50 14.26 23.36 15.75 17.09
78,088.11 84,327.38 13.77 5,145.35 4,726.23 14.99 23.16 16.52 17.84
81,770.46 87,887.22 14.33 5,182.95 4,830.22 15.38 23.28 16.93 18.20
81,443.80 84,955.79 14.28 5,203.00 4,932.32 15.07 23.67 16.51 17.22
79,253.42 83,411.04 13.83 5,241.96 5,026.91 14.42 23.81 15.77 16.59
83,139.26 86,558.16 14.64 5,219.08 5,143.07 14.86 24.25 16.17 16.83
92,133.59 100,767.01 13.59 6,249.39 5,254.74 16.16 24.97 17.53 19.18
92,454.04 98,936.34 13.13 6,512.48 5,353.53 15.97 23.82 17.27 18.48
92,246.64 96,422.44 12.91 6,610.98 5,461.76 15.63 23.41 16.89 17.65
92,852.27 92,796.88 ND 6,030.64 5,565.56 15.47 22.53 16.68 16.67
82,428.30 76,958.84 ND 5,450.30 5,622.10 13.65 22.49 14.66 13.69
77,169.79 70,688.98 14.94 4,869.97 5,622.70 12.94 22.49 13.72 12.57
83,742.52 79,220.44 ND 5,381.93 5,581.03 14.19 22.33 15.00 14.19
81,116.89 69,613.37 ND 5,893.89 5,591.50 13.71 22.37 14.51 12.45
83,546.00 74,383.53 12.39 6,405.85 5,653.88 14.03 22.25 14.78 13.16
91,642.87 88,128.58 ND 6,146.80 5,755.79 15.19 21.25 15.92 15.31
94,021.20 86,953.40 ND 5,887.74 5,834.44 15.34 20.67 16.11 14.90
92,184.57 85,162.08 15.61 5,628.69 5,888.25 14.93 19.39 15.66 14.46
101,830.02 100,062.07 ND 5,945.40 5,922.39 16.45 19.58 17.19 16.90
99,194.24 95,839.92 ND 6,262.11 5,897.06 16.21 20.57 16.82 16.25
97,545.10 91,744.76 14.50 6,578.83 5,876.19 16.24 20.81 16.60 15.61
96,488.24 91,474.68 ND 6,564.61 5,873.51 16.40 21.55 16.43 15.57
97,040.02 92,351.19 ND 6,550.39 5,918.01 16.40 21.77 16.40 15.61
100,967.20 98,089.90 15.45 6,536.17 6,009.68 16.80 20.37 16.80 16.80
105,146.44 105,146.44
 A 0.0322 Média 0.00
B 7.2004 DP 1.96
-2 -1 1 2 11.06%
Regressão Var (-2DP) (-1DP) (+1DP) (+2DP) Var Regressão (%)
7.23 3.31 5.27 9.19 11.16
7.26 3.34 5.30 9.23 11.19
7.30 3.37 5.34 9.26 11.22
7.33 3.41 5.37 9.29 11.25
7.36 3.44 5.40 9.32 11.29
7.39 3.47 5.43 9.36 11.32
7.43 3.50 5.46 9.39 11.35
7.46 3.53 5.50 9.42 11.38
7.49 3.57 5.53 9.45 11.41
7.52 3.60 5.56 9.48 11.45
7.55 3.63 5.59 9.52 11.48
7.59 3.66 5.63 9.55 11.51
7.62 -1.08 3.70 5.66 9.58 11.54 -14.24%
7.65 -0.28 3.73 5.69 9.61 11.58 -3.71%
7.68 -0.20 3.76 5.72 9.65 11.61 -2.62%
7.72 -1.30 3.79 5.75 9.68 11.64 -16.82%
7.75 -1.64 3.82 5.79 9.71 11.67 -21.18%
7.78 -1.01 3.86 5.82 9.74 11.70 -12.94%
7.81 -1.19 3.89 5.85 9.77 11.74 -15.23%
7.84 -0.79 3.92 5.88 9.81 11.77 -10.13%
7.88 -1.26 3.95 5.92 9.84 11.80 -15.97%
7.91 -1.27 3.99 5.95 9.87 11.83 -16.06%
7.94 -1.70 4.02 5.98 9.90 11.87 -21.35%
7.97 -0.60 4.05 6.01 9.94 11.90 -7.56%
8.01 0.54 4.08 6.04 9.97 11.93 6.74%
8.04 -0.25 4.11 6.08 10.00 11.96 -3.16%
8.07 -0.82 4.15 6.11 10.03 11.99 -10.10%
8.10 -0.31 4.18 6.14 10.06 12.03 -3.81%
8.13 -0.12 4.21 6.17 10.10 12.06 -1.47%
8.17 0.24 4.24 6.21 10.13 12.09 2.98%
8.20 0.27 4.28 6.24 10.16 12.12 3.27%
8.23 0.09 4.31 6.27 10.19 12.16 1.07%
8.26 -1.12 4.34 6.30 10.23 12.19 -13.55%
8.30 -0.51 4.37 6.33 10.26 12.22 -6.18%
8.33 0.57 4.40 6.37 10.29 12.25 6.90%
8.36 0.90 4.44 6.40 10.32 12.28 10.78%
8.39 0.08 4.47 6.43 10.35 12.32 1.01%
8.42 0.78 4.50 6.46 10.39 12.35 9.23%
8.46 0.16 4.53 6.50 10.42 12.38 1.84%
8.49 -0.01 4.57 6.53 10.45 12.41 -0.10%
8.52 -0.26 4.60 6.56 10.48 12.45 -3.08%
8.55 -1.51 4.63 6.59 10.52 12.48 -17.67%
8.59 -2.55 4.66 6.62 10.55 12.51 -29.66%
8.62 -2.33 4.69 6.66 10.58 12.54 -26.98%
8.65 -3.52 4.73 6.69 10.61 12.57 -40.71%
8.68 -2.74 4.76 6.72 10.64 12.61 -31.55%
8.71 -2.63 4.79 6.75 10.68 12.64 -30.21%
8.75 -2.24 4.82 6.79 10.71 12.67 -25.63%
8.78 -2.43 4.86 6.82 10.74 12.70 -27.71%
8.81 -2.84 4.89 6.85 10.77 12.74 -32.29%
8.84 -2.33 4.92 6.88 10.81 12.77 -26.30%
8.88 -1.67 4.95 6.91 10.84 12.80 -18.86%
8.91 -1.33 4.98 6.95 10.87 12.83 -14.98%
8.94 -1.80 5.02 6.98 10.90 12.86 -20.08%
8.97 -1.73 5.05 7.01 10.93 12.90 -19.29%
9.00 -1.21 5.08 7.04 10.97 12.93 -13.46%
9.04 -1.17 5.11 7.08 11.00 12.96 -12.96%
9.07 -0.66 5.15 7.11 11.03 12.99 -7.30%
9.10 0.05 5.18 7.14 11.06 13.03 0.53%
9.13 0.81 5.21 7.17 11.10 13.06 8.85%
9.17 0.63 5.24 7.20 11.13 13.09 6.85%
9.20 0.55 5.27 7.24 11.16 13.12 5.95%
9.23 0.65 5.31 7.27 11.19 13.15 7.07%
9.26 -0.57 5.34 7.30 11.22 13.19 -6.14%
9.30 -0.64 5.37 7.33 11.26 13.22 -6.87%
9.33 0.08 5.40 7.37 11.29 13.25 0.83%
9.36 0.67 5.44 7.40 11.32 13.28 7.13%
9.39 0.90 5.47 7.43 11.35 13.32 9.56%
9.42 1.07 5.50 7.46 11.39 13.35 11.38%
9.46 0.92 5.53 7.49 11.42 13.38 9.69%
9.49 1.74 5.56 7.53 11.45 13.41 18.31%
9.52 2.06 5.60 7.56 11.48 13.44 21.60%
9.55 1.06 5.63 7.59 11.51 13.48 11.08%
9.59 2.37 5.66 7.62 11.55 13.51 24.70%
9.62 1.29 5.69 7.66 11.58 13.54 13.38%
9.65 0.08 5.73 7.69 11.61 13.57 0.82%
9.68 -0.15 5.76 7.72 11.64 13.61 -1.52%
9.71 -0.47 5.79 7.75 11.68 13.64 -4.86%
9.75 -0.29 5.82 7.78 11.71 13.67 -2.98%
9.78 0.22 5.85 7.82 11.74 13.70 2.25%
9.81 1.22 5.89 7.85 11.77 13.73 12.45%
9.84 0.47 5.92 7.88 11.80 13.77 4.77%
9.88 0.79 5.95 7.91 11.84 13.80 8.03%
9.91 1.04 5.98 7.95 11.87 13.83 10.53%
9.94 2.37 6.02 7.98 11.90 13.86 23.87%
9.97 2.24 6.05 8.01 11.93 13.90 22.42%
10.00 1.89 6.08 8.04 11.97 13.93 18.88%
10.04 2.57 6.11 8.07 12.00 13.96 25.59%
10.07 1.26 6.14 8.11 12.03 13.99 12.54%
10.10 1.15 6.18 8.14 12.06 14.02 11.38%
10.13 1.11 6.21 8.17 12.09 14.06 10.93%
10.17 0.69 6.24 8.20 12.13 14.09 6.81%
10.20 0.61 6.27 8.24 12.16 14.12 5.99%
10.23 1.31 6.31 8.27 12.19 14.15 12.76%
10.26 1.87 6.34 8.30 12.22 14.19 18.18%
10.29 2.29 6.37 8.33 12.26 14.22 22.24%
10.33 1.96 6.40 8.36 12.29 14.25 18.98%
10.36 1.36 6.43 8.40 12.32 14.28 13.10%
10.39 1.50 6.47 8.43 12.35 14.31 14.42%
10.42 2.01 6.50 8.46 12.38 14.35 19.32%
10.46 2.49 6.53 8.49 12.42 14.38 23.82%
10.49 2.61 6.56 8.53 12.45 14.41 24.89%
10.52 2.15 6.60 8.56 12.48 14.44 20.41%
10.55 1.90 6.63 8.59 12.51 14.48 17.98%
10.58 2.74 6.66 8.62 12.55 14.51 25.90%
10.62 3.61 6.69 8.65 12.58 14.54 34.01%
10.65 2.95 6.72 8.69 12.61 14.57 27.70%
10.68 3.00 6.76 8.72 12.64 14.60 28.13%
10.71 1.95 6.79 8.75 12.67 14.64 18.19%
10.75 2.64 6.82 8.78 12.71 14.67 24.60%
10.78 1.97 6.85 8.82 12.74 14.70 18.32%
10.81 3.26 6.89 8.85 12.77 14.73 30.12%
10.84 4.05 6.92 8.88 12.80 14.77 37.37%
10.87 2.36 6.95 8.91 12.84 14.80 21.73%
10.91 1.13 6.98 8.94 12.87 14.83 10.32%
10.94 0.27 7.01 8.98 12.90 14.86 2.49%
10.97 -0.91 7.05 9.01 12.93 14.89 -8.34%
11.00 -3.51 7.08 9.04 12.96 14.93 -31.87%
11.04 -3.75 7.11 9.07 13.00 14.96 -33.98%
11.07 -3.67 7.14 9.11 13.03 14.99 -33.17%
11.10 -3.45 7.18 9.14 13.06 15.02 -31.05%
11.13 -3.66 7.21 9.17 13.09 15.06 -32.84%
11.16 -3.06 7.24 9.20 13.13 15.09 -27.44%
11.20 -1.65 7.27 9.23 13.16 15.12 -14.73%
11.23 -0.21 7.30 9.27 13.19 15.15 -1.87%
11.26 -0.32 7.34 9.30 13.22 15.18 -2.82%
11.29 0.67 7.37 9.33 13.25 15.22 5.90%
11.33 1.32 7.40 9.36 13.29 15.25 11.70%
11.36 2.75 7.43 9.40 13.32 15.28 24.22%
11.39 3.08 7.47 9.43 13.35 15.31 27.05%
11.42 4.76 7.50 9.46 13.38 15.35 41.69%
11.45 5.55 7.53 9.49 13.42 15.38 48.48%
11.49 5.22 7.56 9.52 13.45 15.41 45.41%
11.52 5.36 7.59 9.56 13.48 15.44 46.50%
11.55 6.11 7.63 9.59 13.51 15.47 52.88%
11.58 4.93 7.66 9.62 13.54 15.51 42.54%
11.62 3.28 7.69 9.65 13.58 15.54 28.26%
11.65 2.26 7.72 9.69 13.61 15.57 19.41%
11.68 3.23 7.76 9.72 13.64 15.60 27.66%
11.71 2.26 7.79 9.75 13.67 15.64 19.26%
11.74 2.73 7.82 9.78 13.71 15.67 23.27%
11.78 2.58 7.85 9.81 13.74 15.70 21.88%
11.81 1.60 7.88 9.85 13.77 15.73 13.55%
11.84 1.57 7.92 9.88 13.80 15.76 13.23%
11.87 0.69 7.95 9.91 13.83 15.80 5.80%
11.91 0.53 7.98 9.94 13.87 15.83 4.43%
11.94 0.44 8.01 9.98 13.90 15.86 3.67%
11.97 -0.26 8.05 10.01 13.93 15.89 -2.13%
12.00 -0.70 8.08 10.04 13.96 15.93 -5.83%
12.03 -1.27 8.11 10.07 14.00 15.96 -10.52%
12.07 -2.03 8.14 10.10 14.03 15.99 -16.83%
12.10 -2.57 8.17 10.14 14.06 16.02 -21.22%
12.13 -3.39 8.21 10.17 14.09 16.05 -27.92%
12.16 -2.49 8.24 10.20 14.12 16.09 -20.43%
12.20 -2.80 8.27 10.23 14.16 16.12 -22.96%
12.23 -2.90 8.30 10.27 14.19 16.15 -23.68%
12.26 -1.92 8.34 10.30 14.22 16.18 -15.63%
12.29 -1.46 8.37 10.33 14.25 16.22 -11.87%
12.32 -1.64 8.40 10.36 14.29 16.25 -13.27%
12.36 -2.04 8.43 10.39 14.32 16.28 -16.51%
12.39 -3.23 8.46 10.43 14.35 16.31 -26.07%
12.42 -3.20 8.50 10.46 14.38 16.34 -25.78%
12.45 -2.84 8.53 10.49 14.41 16.38 -22.77%
12.49 -2.56 8.56 10.52 14.45 16.41 -20.51%
12.52 -2.02 8.59 10.56 14.48 16.44 -16.16%
12.55 -2.17 8.63 10.59 14.51 16.47 -17.33%
12.58 -1.82 8.66 10.62 14.54 16.51 -14.49%
12.61 -0.82 8.69 10.65 14.58 16.54 -6.52%
12.65 -0.68 8.72 10.68 14.61 16.57 -5.38%
12.68 -0.98 8.75 10.72 14.64 16.60 -7.70%
12.71 -1.00 8.79 10.75 14.67 16.63 -7.84%
12.74 -0.90 8.82 10.78 14.70 16.67 -7.03%
12.78 -1.23 8.85 10.81 14.74 16.70 -9.66%
12.81 -2.32 8.88 10.85 14.77 16.73 -18.08%
12.84 -1.97 8.92 10.88 14.80 16.76 -15.33%
12.87 -1.40 8.95 10.91 14.83 16.80 -10.86%
12.90 -0.73 8.98 10.94 14.87 16.83 -5.67%
12.94 -0.24 9.01 10.97 14.90 16.86 -1.83%
12.97 -0.67 9.04 11.01 14.93 16.89 -5.14%
13.00 -0.98 9.08 11.04 14.96 16.92 -7.50%
13.03 -1.96 9.11 11.07 14.99 16.96 -15.02%
13.07 -2.08 9.14 11.10 15.03 16.99 -15.93%
13.10 -1.36 9.17 11.14 15.06 17.02 -10.42%
13.13 -1.13 9.21 11.17 15.09 17.05 -8.63%
13.16 -1.28 9.24 11.20 15.12 17.09 -9.70%
13.19 -0.95 9.27 11.23 15.16 17.12 -7.22%
13.23 -0.46 9.30 11.26 15.19 17.15 -3.50%
13.26 0.62 9.33 11.30 15.22 17.18 4.67%
13.29 -1.19 9.37 11.33 15.25 17.21 -8.95%
13.32 -1.26 9.40 11.36 15.28 17.25 -9.46%
13.36 -1.45 9.43 11.39 15.32 17.28 -10.83%
13.39 -2.60 9.46 11.43 15.35 17.31 -19.43%
13.42 -3.39 9.50 11.46 15.38 17.34 -25.29%
13.45 -2.31 9.53 11.49 15.41 17.38 -17.18%
13.48 -2.29 9.56 11.52 15.45 17.41 -17.01%
13.52 -1.02 9.59 11.55 15.48 17.44 -7.52%
13.55 -1.54 9.62 11.59 15.51 17.47 -11.39%
13.58 -1.24 9.66 11.62 15.54 17.50 -9.13%
13.61 -1.54 9.69 11.65 15.58 17.54 -11.30%
13.65 -2.36 9.72 11.68 15.61 17.57 -17.29%
13.68 -2.55 9.75 11.72 15.64 17.60 -18.67%
13.71 -2.15 9.79 11.75 15.67 17.63 -15.66%
13.74 -2.17 9.82 11.78 15.70 17.67 -15.81%
13.77 -2.45 9.85 11.81 15.74 17.70 -17.79%
13.81 -3.07 9.88 11.84 15.77 17.73 -22.20%
13.84 -2.33 9.91 11.88 15.80 17.76 -16.82%
13.87 -0.22 9.95 11.91 15.83 17.79 -1.59%
13.90 0.97 9.98 11.94 15.87 17.83 6.98%
13.94 -0.54 10.01 11.97 15.90 17.86 -3.84%
13.97 0.20 10.04 12.01 15.93 17.89 1.45%
14.00 1.69 10.08 12.04 15.96 17.92 12.05%
14.03 1.71 10.11 12.07 15.99 17.96 12.15%
14.06 1.71 10.14 12.10 16.03 17.99 12.18%
14.10 3.29 10.17 12.13 16.06 18.02 23.36%
14.13 2.27 10.20 12.17 16.09 18.05 16.09%
14.16 1.65 10.24 12.20 16.12 18.08 11.63%
14.19 2.60 10.27 12.23 16.16 18.12 18.35%
14.23 2.66 10.30 12.26 16.19 18.15 18.67%
14.26 1.67 10.33 12.30 16.22 18.18 11.71%
14.29 1.17 10.37 12.33 16.25 18.21 8.19%
14.32 0.01 10.40 12.36 16.28 18.25 0.08%
14.35 -0.38 10.43 12.39 16.32 18.28 -2.66%
14.39 -0.13 10.46 12.42 16.35 18.31 -0.87%
14.42 0.57 10.49 12.46 16.38 18.34 3.95%
14.45 0.93 10.53 12.49 16.41 18.37 6.44%
14.48 0.58 10.56 12.52 16.45 18.41 4.02%
14.52 -0.09 10.59 12.55 16.48 18.44 -0.62%
14.55 0.31 10.62 12.59 16.51 18.47 2.12%
14.58 1.58 10.66 12.62 16.54 18.50 10.83%
14.61 1.36 10.69 12.65 16.57 18.54 9.27%
14.64 0.99 10.72 12.68 16.61 18.57 6.73%
14.68 0.80 10.75 12.71 16.64 18.60 5.43%
14.71 -1.06 10.78 12.75 16.67 18.63 -7.18%
14.74 -1.80 10.82 12.78 16.70 18.66 -12.21%
14.77 -0.58 10.85 12.81 16.74 18.70 -3.92%
14.81 -1.09 10.88 12.84 16.77 18.73 -7.39%
14.84 -0.80 10.91 12.88 16.80 18.76 -5.42%
14.87 0.32 10.95 12.91 16.83 18.79 2.14%
14.90 0.44 10.98 12.94 16.86 18.83 2.94%
14.93 -0.01 11.01 12.97 16.90 18.86 -0.06%
14.97 1.48 11.04 13.00 16.93 18.89 9.88%
15.00 1.21 11.07 13.04 16.96 18.92 8.07%
15.03 1.21 11.11 13.07 16.99 18.95 8.03%
15.06 1.34 11.14 13.10 17.03 18.99 8.91%
15.10 1.30 11.17 13.13 17.06 19.02 8.61%
15.13 1.67 11.20 13.17 17.09 19.05 11.06%

Fontes de Dados
IPCA https://www.portalbrasil.net/ipca.htm
IPCA https://www.dicionariofinanceiro.com/ipca/
100,000 Ibovespa e P/L Histó
Pontuação
Ibovespa
Evolução Mensal do Ibovespa (Gráfico em log)

Ibovespa Mensal chega a 36.600 pontos

10,000

Crise de 2002. 8.000 pontos Mar/2010: P/L Máximo = 17,6

P/L Mensal do Ibovespa

P/L chega a 7,50

P/L Mínimo = 5,13

1,000
Jan-99 Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-1
 50.00
105.146
spa e P/L Histórico
45.00

40.00

Mensal chega a 36.600 pontos 35.00

30.00

25.00
P/L
Mar/2010: P/L Máximo = 17,66
16,80 20.00

15.00

10.00

/L chega a 7,50
5.00

0.00
Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19
Ibov Mensal Atual 105,146
P/L Atual 16.80
 Ibovespa e P/L Histórico Real (desc
134.663
Evolução Mensal do Ibovespa Real

100,000

Crise 2008

Crise de 2002

10,000 P/L Máximo = 29,89

P/L Mensal do Ibovespa Real

P/L = 13,96 P/L = 13,59

1,000
Jan-99 Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14
 90

co Real (descontada inflação no período)

80

105.146
70

46.294
60

Crise 2016
50
P/L

40

P/L Máximo = 29,89

30

20 16,80

10
P/L Mínimo = 13,07

0
10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19

0.797354
Ibov Mensal Atual 105,146
Ibov Máx 134,663
Ibov 2016 46,294
P/L Atual 16.80
 Ibovespa e P/L Histórico Rea
167.008

100,000

Evolução Mensal do Ibovespa Real

Crise 2008

P/L Máximo = 37,20

10,000

Crise de 2002

P/L Mensal do Ibovespa Real

P/L = 11,72

1,000
Jan-99 Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-1
 90

stórico Real (corrigido pelo dólar)

80
008

105.146
70

60

37.505
50
Crise 2016
P/L
P/L Máximo = 37,20
40

30

16,8020

= 11,72 10
P/L Mínimo = 10,84

0
Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19

0.797354
Ibov Mensal Atual 105,146
Ibov Máx 134,663
Ibov 2016 46,294
P/L Atual 16.80
 PL Ibov Regressão

40.00
105.146,4
100,000
Ibovespa Nominal 4
Índice Preço/Lucro trimestral do Ibovespa 70,4 K
35.00

Ibovespa
Nominal
P/L 30.00

37,3 K

25.00

17,66 20.00
10,000
16,80
8,6 K
15.00

10.00
(+2DP)
(+1DP)
Regressão 7,50 5.00
(-1DP)
5,13
(-2DP)
P/L Ibovespa
1,000 0.00
Jan-99 Mar-00May-01 Jul-02 Sep-03 Nov-04 Jan-06 Mar-07May-08 Jul-09 Sep-10 Nov-11 Jan-13 Mar-14May-15 Jul-16 Sep-17 Nov-18

Page 94