Vitorio Cirineu

Nucleo Capital seeks to achieve above average long-term returns by investing through a single investment portfolio in stocks traded at prices that it considers substantially below their intrinsic value (value investing). The firm is mainly focused on Brazilian listed equities. However, investments may also be made in equity securities of non-Brazilian companies that are publicly traded on any exchange worldwide. The primary basis for their investment decisions is fundamental analysis backed by extensive proprietary research. Their investment portfolio is generally fairly concentrated on a limited number of issuers (usually 10 to 15) across various sectors.