What smart money is saying about Orizon
1 fund in our archive has pitched Orizon, most recently HIX Capital Brazilian Equities in June 2026.
Orizon Valorização de Resíduos S.A. operates as a waste recovery process company. It engages in ecoparks: disposal of solid waste; energy and renewable gas, circular economy, co-processing, CDR and reverse manufacturing, production of organic fertilizers, energy recovery unit, and carbon credits. The company also offers recovery of degraded areas, remediation of contaminated areas, environmental diagnosis and monitoring, waste management, cleaning environmental, and cleaning of oil industry tank services, as well as Uses biogas for energy generation. The company was formerly known as Haztec Investimentos e Participações S.A. and changed its name to Orizon Valorização de Resíduos S.A. in August 2020. Orizon Valorização de Resíduos S.A. was founded in 1999 and is based in São Paulo, Brazil. Orizon Valorização de Resíduos S.A. subsidiary of Inovatec Participações S.A.
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Position history
Between Q2 2026 and Q4 2026, 3 fund letters reported a position in Orizon, with 1 sell (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q4 2026 | 1 | 0 | 0 | 0 |
| Q3 2026 | 1 | 0 | 0 | 0 |
| Q2 2026 | 1 | 0 | 1 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 3 positions · 1 move
- HoldsDrys Capital Equitas Equity Funds (Selection, High Convictions and Vision)October 2026
Listed in Drys Capital Equitas Equity Funds (Selection, High Convictions and Vision)’s reported holdings.
Orizon - September 2026
“these gains were more than offset by weakness in Brazilian low-income homebuilder Construtora Tenda and waste-management company Orizon, as well as Mexican industrial company Orbia and airline Volaris.”
Orizon - TrimmedHIX Capital Brazilian EquitiesJune 2026
“ORIZON In November 2023 — when we made Orizon one of the largest investments in our portfolio — we projected for the Orizon investment an nominal IRR of around 24% p.a. and a multiple of 2.7x on invested capital, over a five-year horizon. In less than three years, the company exceeded all our expectations and the shares reacted accordingly. Using our co-investment vehicles as a basis for comparison, a quotaholder who had allocated pro-rata in the two vehicles would have had a weighted average return of 39.97% p.a. and nearly doubled their capital. For the flagship HIX Capital FIA the accumulated attribution of the shares was 15.13% in our quota — a contribution surpassed only by Eneva, Equatorial and Sinqia in our entire history. Accumulated return vs indices Source: B3, BCB and HIX. Considering the significant appreciation of the Company — above and faster than originally foreseen — we decided to materially reduce the investment, opening space for other more asymmetric investments.”
Orizon
Fund coverage · 1 thesis
- HIX Capital Brazilian EquitiesJune 2026
Orizon is a Brazilian environmental infrastructure leader whose waste consolidation and biomethane thesis took EBITDA from R$ 340 million in 2023 to about R$ 1 billion with Vital, and the fund reduced the position after the stock appreciated faster than projected.
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