What smart money is saying about Suzano
1 fund in our archive has pitched Suzano — most recently Horos AM Funds in July 2026.
Suzano S.A. manufactures and sells pulp and paper products in Brazil and internationally. It operates in two segments, Cellulose, and Paper. The company offers coated and uncoated printing and writing papers, paperboards, tissue papers, and market and fluff pulps. It also engages in the research, development, and production of biofuel; operation of port terminals; biotechnology and nanocrystalline pulps research and development activities; power generation and distribution business; road freight transport activities; commercialization of equipment and parts; research and development of lignin; industrialization and commercialization of cellulose, microfiber cellulose, paper, and paperboard products; and industrialization, commercialization, and exporting of pulp products. In addition, the company is involved in the commercial office, corporate venture capital, and financial fundraising activities; production of consumer goods through cellulose-based liquids; development and production of cellulose-based fibers, yarns, and textile filaments; restoration, conservation, and preservation of forests; and research of raw materials for the textile industry. The company was formerly known as Suzano Papel e Celulose S.A. and changed its name to Suzano S.A. in April 2019. The company was founded in 1924 and is headquartered in Salvador, Brazil.
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Position history
Between Q2 2026 and Q3 2026, 2 fund letters reported a position in Suzano — 1 opened or added to the position.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 1 | 0 | 1 |
| Q2 2026 | 1 | 0 | 0 | 0 |
Fund activity · 2 positions · 1 move
- New positionHoros AM FundsJuly 2026
“Holdings discussed: Suzano (3.3%) Meanwhile, we reallocated much of our long-standing exposure to the stainless steel sector toward Suzano, the Brazilian pulp producer. Suzano is the world's largest player, with a production capacity that is almost triple that of its second-largest competitor. In addition, it also manufactures papers for packaging, tissue and printing and writing. In this segment it has grown in recent years both organically and inorganically, with milestones such as the acquisition of packaging board plants in the U.S. or the important agreement to create a joint venture with Kimberly-Clark, thereby entering the U.S. manufacturer's international tissue business. Suzano's stock price has performed poorly in recent years, caused by various factors, such as the heavy investments deployed by the company (notably those made to build the world's largest pulp mill), the significant drop in the price of pulp, the economic slowdown in China, as well as the uncertainty associated with the vertical integration promoted by the Asian giant. Against this negative sentiment stands the most cost-efficient company in the sector, which allows it to weather the current price pressure and emerge with a stronger competitive position relative to players with lower operating efficiency or higher indebtedness at these low points of the cycle. In addition, Suzano has significant family ownership, which helps align the interests of the management team with the other shareholders. All of this, together with a very attractive current valuation, led us to initiate this position.”
Suzano - June 2026
“Key stock detractors to performance over the Quarter included: • Offshore drilling operator Valaris finished lower in line with lower oil prices and softer investor sentiment toward energy services companies given reduced expectations for offshore drilling activity. Following the strong rally over the CYTD (+39% in local currency) associated with the proposed Transocean acquisition earlier in the Quarter, investors locked in gains as regulatory approvals and integration milestones remained pending. Concerns over slower contract awards and moderating day-rate expectations also pressured sentiment. • Alibaba underperformed as enthusiasm surrounding its AI and cloud businesses moderated after strong performance, prompting valuation normalisation despite broadly resilient operating performance. Investors remained cautious on the pace of recovery in China's consumer economy and e-commerce spending, while persistent competitive intensity limited confidence in accelerating core commerce earnings. In Antipodes’ view the pullback appeared driven more by sentiment than by a material deterioration in intrinsic value. Alibaba continues to generate substantial free cash flow, maintain a strong net cash position and continues to return capital through ongoing buybacks, leaving the longer-term investment case largely intact. • Brazilian pulp and paper producer Suzano underperformed as weaker global hardwood pulp prices and cautious demand from Chinese paper producers weighed on earnings expectations.”
Suzano
Fund coverage · 1 thesis
- Horos AM FundsJuly 2026
Suzano is the world’s largest pulp producer, with strong cost efficiency, expanding packaging and tissue exposure, family ownership alignment and an attractive valuation.
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