What smart money is saying about Equatorial
2 funds in our archive have pitched Equatorial — most recently STK Long Only FIA in September 2026.
Equatorial S.A., through its subsidiaries, engages in the generation, distribution, and commercialization of energy in Brazil. The company is also involved in sanitation activities, such as water supply and sewage services; sewer connections, water meter installation, water connections, and reconnections; and construction related to works or improvements. In addition, it provides telephone service and internet telecommunications integration. The company was formerly known as Equatorial Energia S.A. and changed its name to Equatorial S.A. in August 2024. Equatorial S.A. was founded in 1958 and is headquartered in São Luís, Brazil.
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Position history
Between Q2 2026 and Q3 2026, 5 fund letters reported a position in Equatorial, with 1 buy (opened or added).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 4 | 1 | 0 | 1 |
| Q2 2026 | 1 | 0 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 5 positions · 1 move
- HoldsIndie FIC FIASeptember 2026
“The main positive highlights were the utilities sectors (+1.82 p.p.), with Equatorial and Eneva, and logistics (+1.27 p.p.), driven by Localiza.”
Equatorial - HoldsSTK Long Only FIASeptember 2026
“Equatorial. With seven distributors serving more than 14 million consumers in the country, the company operates in energy and sanitation, businesses that require investments today to generate cash over the coming decades.”
Equatorial - HoldsSTK Long Biased FIC FIASeptember 2026
“Equatorial. With seven distributors serving more than 14 million consumers in the country, the company operates in energy and sanitation, businesses that require investments today to generate cash over the coming decades.”
Equatorial - New positionVersa Asset FundsSeptember 2026
“During the month we reduced investments in Lojas Renner and Vulcabrás due to the prospect of worse third-quarter results than expected. We replaced them with Banco Pine, XP, Rumo Logística and Equatorial.”
Equatorial - HoldsSquadra Investimentos Long-Biased and Long-Only FundsJune 2026
“Equatorial and Energisa are living examples of this combination in our portfolio.”
Equatorial
Fund coverage · 2 theses
- STK Long Only FIASeptember 2026
Equatorial is a long-horizon energy and sanitation utility whose value benefits doubly from falling rates and lower risk premiums, reducing its cost of capital and financial expenses.
Read the full thesis - Squadra Investimentos Long-Biased and Long-Only FundsJune 2026
Equatorial is a well-managed, defensive electricity distribution concession operator with long-duration cash flows and a resilient spread between returns and cost of capital, trading at an attractive asymmetry.
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