Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
   Rule 13d-1(b)
   Rule 13d-1(c)
   Rule 13d-1(d)




schemaVersion:


SCHEDULE 13G




Comment for Type of Reporting Person:  On December 31, 2025, Kapitalo Ciclo Gestora de Recursos Financeiros Ltda. ("Ciclo") merged into Kapitalo Investimentos Ltda. and the Common Shares, no par value for which Ciclo previously held shared voting and dispositive power are reported under Kapitalo Investimentos Ltda. As of such date, Kapitalo Investimentos Ltda. had shared voting and dispositive power over 5,792,535 Common Shares, no par value. Ciclo no longer has beneficial ownership over any Common Shares, no par value.


SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G



 
Kapitalo Investimentos Ltda
 
Signature:/s/ Rodrigo Muniz Ferreira Cavenaghi*
Name/Title:Rodrigo Muniz Ferreira Cavenaghi, Managing Officer
Date:11/09/2026
 
Carlos Leonhard da Rocha Woelz
 
Signature:/s/ Carlos Leonhard da Rocha Woelz*
Name/Title:Carlos Leonhard da Rocha Woelz
Date:11/09/2026
 
Bruno Sousa Mauad
 
Signature:/s/ Bruno Sousa Mauad*
Name/Title:Bruno Sousa Mauad
Date:11/09/2026
 
Hegler Jose Horta Barbosa Filho
 
Signature:/s/ Hegler Jose Horta Barbosa Filho*
Name/Title:Hegler Jose Horta Barbosa Filho
Date:11/09/2026
 
Bruno Carvalho Cordeiro
 
Signature:/s/ Bruno Carvalho Cordeiro*
Name/Title:Bruno Carvalho Cordeiro
Date:11/09/2026

Comments accompanying signature:  * Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his, her or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. To the extent that "ownership of 5 percent or less of a class" was indicated in Item 5, such response only applies to the Reporting Person(s) that indicated elsewhere herein that it beneficially owns five percent (5%) or less of the class.
Exhibit Information

Exhibit A - Joint Filing Agreement


ATTACHMENTS / EXHIBITS

ATTACHMENTS / EXHIBITS

p15005652_exh-a.htm