Latin America Financials: Chart(s) of the Week: Monthly Quant Positioning for LatAm Financials

研报英文原文证据摘录

Latin America Financials: Chart(s) of the Week: Monthly Quant Positioning for LatAm Financials

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30 Jul 2026 18:16:14 ET │ 14 pages

Latin America Financials

Chart(s) of the Week: Monthly Quant Positioning for LatAm Financials

CITI'S TAKE

Gustavo Schroden AC

In this edition, we publish positioning charts for our LatAm Financials +55-11-4009-5858

coverage, stemming from the Crowding Composite elaborated by Citi’s gustavo.schroden@citi.com

Quant team, which considers several inputs, such as price momentum,

valuation, short-interest ratio, consensus ratings, and macro exposure. As Arnon Shirazi, CFA

of Jul 28, 2026, among the 32 companies mapped, consensus long +55-11-4009-7906

positioning accounted for 44%, while consensus short positioning arnon.shirazi@citi.com

represented 31%, compared to 39% long and 52% shorts last month.

Across these tracked companies, we highlight in the long quadrant: Itaúsa, Brian Flores, CFA

Caixa Seguridade, and BCI; while the shortest consensus were: Quálitas, +55-11-4009-2842

PAGS, and Inbursa. luis.brian.flores@citi.com

Long positioning: Higher Insurer Concentration — Among Brazilian banks mapped

by us, BPAC, ITUB, and ABCB continue positioned in the consensus long quadrant,

having BBDC as the new entrant. Within LatAm (ex-Bz) names, we highlight the

presence of BCI, BAP, ITAUCL, and SANCL. Among non-banks, ITSA, B3SA, CXSE,

PSSA, and IRBR are in the quadrant. Notably, B3SA, BBDC, and IRBR joined the long

quadrant. Overall, consensus longs slightly increased on monthly basis, with 13

companies in this quadrant compared to 11 previously.

Short positioning: Inter and Santander continue in the shorts — Consensus shorts

decreased this month, now representing 31% of the mapped universe versus 52%

last month.