SPX Equities Gestao de Recursos Ltda 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
CALL- SNE 100 @ 75 EXP 03/19/2021	CALL	99O5J95Q4	5,338,720	2,000	SH	Call	SOLE		2,000	0	0
CALL- VZ 100 @ 65 EXP 02/19/2021	CALL	99VVFGVZ8	3,171	302	SH	Call	SOLE		302	0	0
SONY CORP	SPONSORED ADR	835699307	38,440,040	380,218	SH		SOLE		380,218	0	0
CHARTER COMMUNICATIONS INC	CL A	16119P108	24,278,885	36,700	SH		SOLE		36,700	0	0
CALL- CCI 100 @ 165 EXP 01/15/2021	CALL	99O13J9N1	87,500	1,000	SH	Call	SOLE		1,000	0	0
CALL- CCI 100 @ 165 EXP 04/16/2021	CALL	99O4P1983	1,210,000	2,000	SH	Call	SOLE		2,000	0	0
ULTRAPAR PARTICIPACOES	SP ADR REP COM	90400P101	4,913,510	1,084,660	SH		SOLE		1,084,660	0	0
CALL- AON 100 @ 220 EXP 04/16/2021	CALL	99O6K7X59	1,162,500	1,500	SH	Call	SOLE		1,500	0	0
AON PLC	SHS CL A	G0403H108	18,507,252	87,600	SH		SOLE		87,600	0	0
CROWN CASTLE INTERNATIONAL CORP	COM	22822V101	22,096,686	138,807	SH		SOLE		138,807	0	0
CALL- TSCO 100 @ 135EXP 04/16/2021	CALL	99O6N58L3	1,729,050	1,500	SH	Call	SOLE		1,500	0	0
CALL- TMUS 100 @ 140EXP 02/19/2021	CALL	99O5VGT39	1,133,400	3,000	SH	Call	SOLE		3,000	0	0
T-MOBILE US INC COM STK	COM	872590104	30,644,932	227,252	SH		SOLE		227,252	0	0
CALL- EWJ 100@68 1/2EXP 01/15/2021	CALL	99VVHK8M2	1,545,000	30,000	SH	Call	SOLE		30,000	0	0
PETROLEO BRASILEIRO ADR	COM CL A	71654V408	24,709,975	2,200,354	SH		SOLE		2,200,354	0	0
STERICYCLE INC	COM	858912108	19,360,888	279,257	SH		SOLE		279,257	0	0
TIM SA-ADR	SPONSORED ADR	88706T108	3,356,724	241,144	SH		SOLE		241,144	0	0
TRACTOR SUPPLY	COM	892356106	20,082,837	142,857	SH		SOLE		142,857	0	0
CALL- IWM 100 @ 195 EXP 02/19/2021	CALL	99O5W37P2	8,578,700	10,000	SH	Call	SOLE		10,000	0	0
CALL- IWM 100 @ 200 EXP 01/08/2021	CALL	99O7VQN88	423,000	3,000	SH	Call	SOLE		3,000	0	0
PUT - IWM 100 @ 190 EXP 03/19/2021	PUT	99O48MF48	1,269,348	1,668	SH	Put	SOLE		1,668	0	0
CALL- IWM 100 @ 230 EXP 02/19/2021	CALL	99VS6HVK6	135,000	6,000	SH	Call	SOLE		6,000	0	0
PUT - IWM 100 @ 192 EXP 12/31/2020	PUT	99O7PPV47	0	0	SH	Put	SOLE		0	0	0
PUT - IWM 100 @ 150 EXP 02/19/2021	PUT	99O5T4ND3	205,200	3,600	SH	Put	SOLE		3,600	0	0
PUT - IWM 100 @ 185 EXP 02/19/2021	PUT	99O5W38F3	4,330,000	10,000	SH	Put	SOLE		10,000	0	0
SPDR S&P METALS & MINING ETF	S&P METALS MNG	78464A755	15,048,000	450,000	SH		SOLE		450,000	0	0
LPL FINANCIAL HOLDINGS INC	COM	50212V100	31,739,680	304,545	SH		SOLE		304,545	0	0
CALL- DELL 100 @ 75 EXP 04/16/2021	CALL	99O6KWC24	1,452,900	3,000	SH	Call	SOLE		3,000	0	0
CALL- BBY 100 @ 120 EXP 03/19/2021	CALL	99O63TGJ9	317,900	2,200	SH	Call	SOLE		2,200	0	0
CALL- BBY 100 @ 110 EXP 03/19/2021	CALL	99O63TGG5	1,005,000	3,000	SH	Call	SOLE		3,000	0	0
PUT - WORK 100 @ 29 EXP 03/19/2021	PUT	99O66RQX8	4,120	2,000	SH	Put	SOLE		2,000	0	0
PUT - WORK 100 @ 24 EXP 03/19/2021	PUT	99O66RQS9	60	3,000	SH	Put	SOLE		3,000	0	0
SLACK TECHNOLOGIES INC- CL A	COM CL A	83088V102	732,188	17,334	SH		SOLE		17,334	0	0
BEST BUY CO INC	COM	086516101	30,020,424	300,836	SH		SOLE		300,836	0	0
NATURA &CO HOLDING-ADR	ADS	63884N108	13,298,800	664,940	SH		SOLE		664,940	0	0
CONSUMER DISCRET SPDR	SBI CONS DISCR	81369Y407	35,017,884	217,800	SH		SOLE		217,800	0	0
CALL- MS 100 @ 69 EXP 01/22/2021	CALL	99O7YFGP9	523,200	2,400	SH	Call	SOLE		2,400	0	0
CALL- MS 100 @ 65 EXP 03/19/2021	CALL	99VR7BL54	2,481,280	4,000	SH	Call	SOLE		4,000	0	0
CALL- MS 100 @ 50 EXP 01/15/2021	CALL	99VCY0V19	5,579,580	3,000	SH	Call	SOLE		3,000	0	0
CALL- EBAY 100 @ 55 EXP 02/19/2021	CALL	99O5RH298	956,000	8,000	SH	Call	SOLE		8,000	0	0
CALL- EBAY 100 @ 50 EXP 02/19/2021	CALL	99O5RH280	599,500	2,000	SH	Call	SOLE		2,000	0	0
MORGAN STANLEY	COM NEW	617446448	33,413,515	487,575	SH		SOLE		487,575	0	0
EBAY INC	COM	278642103	17,898,899	356,197	SH		SOLE		356,197	0	0
FINANCIAL SPDR	SBI INT-FINL	81369Y605	40,328,640	1,368,000	SH		SOLE		1,368,000	0	0
EQUINIX INC	COM	29444U700	10,355,610	14,500	SH		SOLE		14,500	0	0
INDUSTRIAL SPDR	SBI INT-INDS	81369Y704	50,521,140	570,538	SH		SOLE		570,538	0	0
CALL- XRT 100@65 1/2EXP 01/08/2021	CALL	99O7WJ8X5	399,000	7,000	SH	Call	SOLE		7,000	0	0
PUT - XRT 100 @ 40 EXP 03/19/2021	PUT	99VRTJQB5	12,919	1,538	SH	Put	SOLE		1,538	0	0
PUT - XRT 100 @ 60 EXP 03/19/2021	PUT	99O67BRP8	979,970	5,007	SH	Put	SOLE		5,007	0	0
COMCAST CORP CLASS A	CL A	20030N101	13,288,640	253,600	SH		SOLE		253,600	0	0
CALL- EEM 100 @ 50 EXP 04/16/2021	CALL	99O7GT969	1,403,000	4,000	SH	Call	SOLE		4,000	0	0
CALL- EEM 100@52 1/2EXP 01/15/2021	CALL	99O22PYW8	1,288,500	30,000	SH	Call	SOLE		30,000	0	0
CALL- EEM 100 @ 50 EXP 01/15/2021	CALL	99OZN1499	2,013,300	10,000	SH	Call	SOLE		10,000	0	0
CALL- EWZ 100 @ 38 EXP 02/19/2021	CALL	99VTRZSJ8	6,440,000	40,000	SH	Call	SOLE		40,000	0	0
ISHARES MSCI EMERGING MARKETS ETF	MSCI EMG MKT ETF	464287234	77,505,000	1,500,000	SH		SOLE		1,500,000	0	0
CALL- IFF 100 @ 115 EXP 02/19/2021	CALL	99O5T0WG4	551,900	2,000	SH	Call	SOLE		2,000	0	0
CALL- IFF 100 @ 125 EXP 02/19/2021	CALL	99O5T0WJ8	203,040	2,000	SH	Call	SOLE		2,000	0	0
INTL FLAV & FRAG	COM	459506101	6,950,522	63,860	SH		SOLE		63,860	0	0
EMBRAER SA	SPONSORED ADS	29082A107	15,861,634	2,329,168	SH		SOLE		2,329,168	0	0
CALL- VALE 100 @ 18 EXP 01/15/2021	CALL	99O5HG952	742,500	33,000	SH	Call	SOLE		33,000	0	0
CALL- ETSY 100 @ 125EXP 03/19/2021	CALL	99O64J0P3	6,946,187	1,250	SH	Call	SOLE		1,250	0	0
CALL- ETSY 100 @ 170EXP 01/15/2021	CALL	99O60J3T6	3,630,660	3,000	SH	Call	SOLE		3,000	0	0
CALL- ETSY 100 @ 120EXP 03/19/2021	CALL	99O64J0N8	6,000,350	1,000	SH	Call	SOLE		1,000	0	0
PUT - SPY 100 @ 365 EXP 01/15/2021	PUT	99VD41TC7	2,705,000	10,000	SH	Put	SOLE		10,000	0	0
CALL- ETSY 100 @ 140EXP 03/19/2021	CALL	99O64J0S7	4,316,810	1,000	SH	Call	SOLE		1,000	0	0
CALL- FXI 100@43 1/2EXP 02/19/2021	CALL	99O5SQM53	2,055,360	6,000	SH	Call	SOLE		6,000	0	0
ISHARE CHINA LARGE CAP ETF	CHINA LG-CAP ETF	464287184	2,335,429	50,300	SH		SOLE		50,300	0	0
ENERGY SPDR	ENERGY	81369Y506	39,908,700	1,053,000	SH		SOLE		1,053,000	0	0
ETSY INC	COM	29786A106	33,402,247	187,748	SH		SOLE		187,748	0	0
VALE SA SP ADR	SPONSORED ADS	91912E105	30,487,915	1,819,088	SH		SOLE		1,819,088	0	0
CALL- ATUS 100 @ 33 EXP 03/19/2021	CALL	99O6CX297	1,743,150	3,000	SH	Call	SOLE		3,000	0	0
PUT - ATUS 100 @ 32 EXP 01/15/2021	PUT	99O7LSLL8	146	182	SH	Put	SOLE		182	0	0
COMPNHIA ENRG C	SPONSORED ADR	204409882	0	0	SH		SOLE		0	0	0
ALTICE USA INC. - A	COM CL A	02156K103	12,118,400	320,000	SH		SOLE		320,000	0	0
CALL- Z 100 @ 135 EXP 01/15/2021	CALL	99O708YF4	1,000,384	3,200	SH	Call	SOLE		3,200	0	0
CALL- Z 100 @ 105 EXP 02/19/2021	CALL	99O6GCCF4	2,750,700	1,000	SH	Call	SOLE		1,000	0	0
CALL- Z 100 @ 110 EXP 02/19/2021	CALL	99VS6FSH1	7,065,000	3,000	SH	Call	SOLE		3,000	0	0
CALL- LOW 100 @ 160 EXP 03/19/2021	CALL	99O7H6QV4	1,372,995	1,500	SH	Call	SOLE		1,500	0	0
ZILLOW GROUP INC - C	CL C CAP STK	98954M200	11,119,966	85,670	SH		SOLE		85,670	0	0
LOWES COMPANIES	COM	548661107	33,147,562	206,514	SH		SOLE		206,514	0	0
SABESP	SPONSORED ADR	20441A102	1,322,001	153,900	SH		SOLE		153,900	0	0
CALL- HA 100 @ 20 EXP 04/16/2021	CALL	99O6LFVH6	875,000	5,000	SH	Call	SOLE		5,000	0	0
BANCO BRADESCO	SP ADR PFD NEW	059460303	12,161,446	2,312,062	SH		SOLE		2,312,062	0	0
US FOODS HLDNG	COM	912008109	3,849,537	115,567	SH		SOLE		115,567	0	0
COMPANHIA SIDERURGICA NACIONAL	SPONSORED ADS	20440W105	664,996	111,764	SH		SOLE		111,764	0	0
COMPNHIA ENRG	SP ADR N-V PFD	204409601	0	0	SH		SOLE		0	0	0
ISHARES MSCI BRAZIL ETF	MSCI BRAZIL ETF	464286400	3,067,505	82,749	SH		SOLE		82,749	0	0
LAUREATE EDUCATION INC-A	CL A	518613203	10,475,469	719,469	SH		SOLE		719,469	0	0
MERCADOLIBRE INC	COM	58733R102	11,069,854	6,608	SH		SOLE		6,608	0	0
COMPANHIA BRASILEIRA DE DISTRIBUIACAO SA	SPONSORED ADR	20440T300	2,032,767	141,953	SH		SOLE		141,953	0	0
ALIBABA GROUP HOLDING LTD	SPONSORED ADS	01609W102	14,669,903	63,034	SH		SOLE		63,034	0	0
ENEL CHILE S.A.	SPONSORED ADR	29278D105	1,000,477	257,192	SH		SOLE		257,192	0	0
VASTA PLATFORM LTD	CL A	G9440A109	12,499	862	SH		SOLE		862	0	0
COSAN LTD -CL A	SHS A	G25343107	24,626,221	1,336,203	SH		SOLE		1,336,203	0	0
CALL- CHL 100 @ 30 EXP 03/19/2021	CALL	99O641WJ1	562,625	4,501	SH	Call	SOLE		4,501	0	0
CALL- CHL 100 @ 30 EXP 01/15/2021	CALL	99O7QJJ28	64,950	1,732	SH	Call	SOLE		1,732	0	0
CHINA MOBILE LIMITED	SPONSORED ADR	16941M109	6,957,795	243,791	SH		SOLE		243,791	0	0
CENTRAIS ELETRICAS BR-SP ADR	SPONSORED ADR	15234Q207	228,936	32,752	SH		SOLE		32,752	0	0
BP PLC	SPONSORED ADR	055622104	8,162,774	397,796	SH		SOLE		397,796	0	0
PUT - TLT 100 @ 150 EXP 01/15/2021	PUT	99OZNDBK0	76,148	3,905	SH	Put	SOLE		3,905	0	0
BANCO BRADESCO	SPONSORED ADR	059460402	10,880	2,360	SH		SOLE		2,360	0	0
MERCK & CO	COM	58933Y105	2,863,000	35,000	SH		SOLE		35,000	0	0
CALL- EWZ 100@38 1/2EXP 01/29/2021	CALL	99O80L953	1,185,875	13,250	SH	Call	SOLE		13,250	0	0
ROYAL DUTCH SHELL B ADR	SPON ADR B	780259107	3,643,324	108,400	SH		SOLE		108,400	0	0
GERDAU SA	SPON ADR REP PFD	373737105	222,983	47,748	SH		SOLE		47,748	0	0
PUT - SPY 100 @ 361 EXP 01/08/2021	PUT	99O7W7K09	83,100	831	SH	Put	SOLE		831	0	0
TELEFONICA BRASIL SA-ADR	NEW ADR	87936R205	147,910	16,713	SH		SOLE		16,713	0	0
SUZANO SA	SPON ADS	86959K105	8,944	800	SH		SOLE		800	0	0
AZUL SA	SPONSR ADR PFD	05501U106	765,908	33,563	SH		SOLE		33,563	0	0
EQUINOR ASA	SPONSORED ADR	29446M102	3,027,126	184,356	SH		SOLE		184,356	0	0
BRF - BRASIL FOODS SA	SPONSORED ADR	10552T107	229,832	54,722	SH		SOLE		54,722	0	0
ITAU UNIBANCO HOLDING SA	SPON ADR REP PFD	465562106	11,876	1,950	SH		SOLE		1,950	0	0
SPDR S&P RETAIL ETF	S&P RETAIL ETF	78464A714	1,661,321	25,829	SH		SOLE		25,829	0	0