SPX Equities Gestao de Recursos Ltda Buys Petroleo Brasileiro SA Petrobras, eBay Inc, Gap Inc, Sells Bank of America Corporation, Vale SA, Banco Macro SA

• New Purchases: PBR, GPS, CFG, MUSA, ARMK, CCK, RIO, EWZ, KEY, C,
• Added Positions: EBAY, PBR.A, BBD, TX, GGB, FBR, RDS.A, BSMX, TV, LOMA,
• Reduced Positions: BAC, VALE, BMA, SBS, BRFS, AZUL, TEO,
• Sold Out: CCU, CIG, YPF, ABEV, BAK,

For the details of SPX Equities Gestao de Recursos Ltda's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=SPX+Equities+Gestao+de+Recursos+Ltda

1. eBay Inc (EBAY) - 3,332,797 shares, 16.04% of the total portfolio. Shares added by 103.12%
2. Petroleo Brasileiro SA Petrobras (PBR) - 4,695,456 shares, 10.95% of the total portfolio. New Position
3. Gap Inc (GPS) - 1,400,772 shares, 7.81% of the total portfolio. New Position
4. Citizens Financial Group Inc (CFG) - 745,342 shares, 5.55% of the total portfolio. New Position
5. Petroleo Brasileiro SA Petrobras (PBR.A) - 2,890,411 shares, 5.54% of the total portfolio. Shares added by 868.99%

SPX Equities Gestao de Recursos Ltda initiated holding in Petroleo Brasileiro SA Petrobras. The purchase prices were between $10.07 and $12.53, with an estimated average price of $11.09. The stock is now traded at around $15.55. The impact to a portfolio due to this purchase was 10.95%. The holding were 4,695,456 shares as of 2018-09-30.

SPX Equities Gestao de Recursos Ltda initiated holding in Gap Inc. The purchase prices were between $26.99 and $32.7, with an estimated average price of $29.97. The stock is now traded at around $27.40. The impact to a portfolio due to this purchase was 7.81%. The holding were 1,400,772 shares as of 2018-09-30.

SPX Equities Gestao de Recursos Ltda initiated holding in Citizens Financial Group Inc. The purchase prices were between $38.57 and $41.5, with an estimated average price of $40.33. The stock is now traded at around $38.14. The impact to a portfolio due to this purchase was 5.55%. The holding were 745,342 shares as of 2018-09-30.

SPX Equities Gestao de Recursos Ltda initiated holding in Murphy USA Inc. The purchase prices were between $74.41 and $88.09, with an estimated average price of $82.43. The stock is now traded at around $81.64. The impact to a portfolio due to this purchase was 4.07%. The holding were 246,712 shares as of 2018-09-30.

SPX Equities Gestao de Recursos Ltda initiated holding in Aramark. The purchase prices were between $37.19 and $43.17, with an estimated average price of $40.44. The stock is now traded at around $36.03. The impact to a portfolio due to this purchase was 4%. The holding were 481,400 shares as of 2018-09-30.

SPX Equities Gestao de Recursos Ltda initiated holding in Crown Holdings Inc. The purchase prices were between $40.76 and $48.71, with an estimated average price of $44.43. The stock is now traded at around $46.62. The impact to a portfolio due to this purchase was 3.43%. The holding were 369,534 shares as of 2018-09-30.

SPX Equities Gestao de Recursos Ltda added to a holding in eBay Inc by 103.12%. The purchase prices were between $32.76 and $37.95, with an estimated average price of $34.68. The stock is now traded at around $29.86. The impact to a portfolio due to this purchase was 8.14%. The holding were 3,332,797 shares as of 2018-09-30.

SPX Equities Gestao de Recursos Ltda added to a holding in Petroleo Brasileiro SA Petrobras by 868.99%. The purchase prices were between $8.7 and $11.36, with an estimated average price of $9.71. The stock is now traded at around $14.03. The impact to a portfolio due to this purchase was 4.97%. The holding were 2,890,411 shares as of 2018-09-30.

SPX Equities Gestao de Recursos Ltda added to a holding in Bank Bradesco SA by 108.42%. The purchase prices were between $6.55 and $8.63, with an estimated average price of $7.36. The stock is now traded at around $9.61. The impact to a portfolio due to this purchase was 2.76%. The holding were 5,090,090 shares as of 2018-09-30.

SPX Equities Gestao de Recursos Ltda added to a holding in Ternium SA by 134618.00%. The purchase prices were between $25.57 and $37.36, with an estimated average price of $31.67. The stock is now traded at around $32.05. The impact to a portfolio due to this purchase was 1.58%. The holding were 269,436 shares as of 2018-09-30.

SPX Equities Gestao de Recursos Ltda added to a holding in Fibria Celulose SA by 53.02%. The purchase prices were between $18.18 and $19.82, with an estimated average price of $19.01. The stock is now traded at around $18.97. The impact to a portfolio due to this purchase was 1.49%. The holding were 1,778,869 shares as of 2018-09-30.

SPX Equities Gestao de Recursos Ltda added to a holding in Gerdau SA by 238.59%. The purchase prices were between $3.52 and $4.56, with an estimated average price of $4.04. The stock is now traded at around $4.41. The impact to a portfolio due to this purchase was 1.49%. The holding were 3,047,292 shares as of 2018-09-30.

SPX Equities Gestao de Recursos Ltda sold out a holding in United Breweries Co Inc. The sale prices were between $24.77 and $28.23, with an estimated average price of $26.55.

SPX Equities Gestao de Recursos Ltda sold out a holding in Energy Company of Minas Gerais. The sale prices were between $1.6 and $2.22, with an estimated average price of $1.9.

SPX Equities Gestao de Recursos Ltda sold out a holding in YPF SA. The sale prices were between $13.17 and $17.22, with an estimated average price of $15.57.

SPX Equities Gestao de Recursos Ltda sold out a holding in Ambev SA. The sale prices were between $4.33 and $5.31, with an estimated average price of $4.77.

SPX Equities Gestao de Recursos Ltda sold out a holding in Braskem SA. The sale prices were between $25.3 and $29.98, with an estimated average price of $28.4.

SPX Equities Gestao de Recursos Ltda reduced to a holding in Bank of America Corporation by 35.83%. The sale prices were between $27.78 and $31.8, with an estimated average price of $30.46. The stock is now traded at around $28.54. The impact to a portfolio due to this sale was -7.98%. SPX Equities Gestao de Recursos Ltda still held 1,487,246 shares as of 2018-09-30.

SPX Equities Gestao de Recursos Ltda reduced to a holding in Vale SA by 41.64%. The sale prices were between $12.49 and $15.25, with an estimated average price of $13.5. The stock is now traded at around $15.32. The impact to a portfolio due to this sale was -6.99%. SPX Equities Gestao de Recursos Ltda still held 2,241,263 shares as of 2018-09-30.

SPX Equities Gestao de Recursos Ltda reduced to a holding in Banco Macro SA by 50%. The sale prices were between $34.36 and $71.52, with an estimated average price of $53.77. The stock is now traded at around $43.82. The impact to a portfolio due to this sale was -1.62%. SPX Equities Gestao de Recursos Ltda still held 80,479 shares as of 2018-09-30.

SPX Equities Gestao de Recursos Ltda reduced to a holding in Companhia De Saneamento Basico Do Estado De Sao Pa by 33.33%. The sale prices were between $5.7 and $7.08, with an estimated average price of $6.29. The stock is now traded at around $7.54. The impact to a portfolio due to this sale was -0.64%. SPX Equities Gestao de Recursos Ltda still held 626,679 shares as of 2018-09-30.

SPX Equities Gestao de Recursos Ltda reduced to a holding in BRF SA by 50%. The sale prices were between $4.77 and $6.43, with an estimated average price of $5.56. The stock is now traded at around $5.99. The impact to a portfolio due to this sale was -0.63%. SPX Equities Gestao de Recursos Ltda still held 390,789 shares as of 2018-09-30.

SPX Equities Gestao de Recursos Ltda reduced to a holding in Azul SA by 50%. The sale prices were between $15.65 and $20.74, with an estimated average price of $17.68. The stock is now traded at around $25.00. The impact to a portfolio due to this sale was -0.45%. SPX Equities Gestao de Recursos Ltda still held 79,811 shares as of 2018-09-30.