What smart money is saying about B3 S.A.
NBOV11.SA · Financial Services · Asset Management · Market cap $0
1 fund in our archive has pitched B3 S.A. — most recently Brown Advisory in December 2024.
Company profile
The Fund is a market index investment fund that seeks investment returns that generally correspond to the performance, before fees and expenses, of the Index.
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Reported positions
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Letters
Fund activity · 3 positions
- HoldsGuinness Emerging Markets Equity Income FundJuly 2026
“B3 (Brasil, Bolsa, Balcão), the Brazilian Stock Exchange, was also down 19.3% as local market dynamics were lacklustre, especially around May, with trading volumes down by mid-teens percentages over the month.”
Read the letterB3 S.A. - HoldsGuinness Emerging Markets Equity Income FundJune 2026
Listed in Guinness Emerging Markets Equity Income Fund’s reported holdings.
Read the letterB3 S.A. - HoldsBrown Advisory Global Leaders Sustainable FundMarch 2026
“Our other FMI investments—Deutsche Boerse and B3— have very little risk of AI disintermediation and have instead benefited from market volatility year-to-date, positively contributing to portfolio returns.”
Read the letterB3 S.A.
Fund coverage · 1 thesis
- Brown AdvisoryDecember 2024
B3 is the unique sole exchange in Brazil with a solid mid-teens IRR potential, countering depressed cash equity trading with stable derivatives, low competitive risks, and management's strategic share buybacks.
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