Latin America Homebuilding and Industrials: Monthly Quant Positioning for LatAm Real Estate and Capital Goods

研报英文原文证据摘录

Latin America Homebuilding and Industrials: Monthly Quant Positioning for LatAm Real Estate and Capital Goods

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02 Aug 2026 19:00:13 ET │ 16 pages

Latin America Homebuilding and

Industrials

Monthly Quant Positioning for LatAm Real Estate and Capital Goods

Andre Mazini, CFA AC

CITI'S TAKE +55-11-4009-2017

andre.mazini@citi.com

Following the recent volatility in LatAm stock markets, several investors

have been asked us about positioning and crowding across local stock Kiepher Kennedy

markets. To help answer the question, “Where are investors positioned +55-11-4009-2641

today?”, we are launching this monthly report covering our LatAm Real kiepher.kennedy@citi.com

Estate and Capital Goods universe, stemming from the Crowding

Composite developed by Citi’s Quant team. The methodology is based on Piero Trotta

five equally weighted inputs: price momentum, valuation, short interest, +55-11-4009-7781

consensus ratings, and macro exposure. Among the 21 companies piero.trotta@citi.com

mapped, consensus long positioning accounts for 48% of names, while

consensus short positioning represents 29%. Across the companies

tracked, we highlight TEND, ALOS and DIRR in the long quadrant, while

FIBRAMQ, VESTA and FIBRAPL rank among the most crowded shorts.

Long positioning: concentrated in Brazilian Real Estate — Among the Brazilian

Homebuilders in our universe, TEND, DIRR, and CURY remain in the consensus

quadrant, while CYRE joined the basket after moving out of the consensus short

quadrant just four weeks ago. Within Brazil's mall operators, we highlight the

continued presence of ALOS and IGTI in the long quadrant. In Capital Goods, WEGE,

EMBR, and POMO are positioned in the long quadrant, although with notable

changes relative to four weeks ago.