Instuitional Investor - Turim 21 Investimentos Ltda.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Spdr S & P 500 Etf Trust	SPY	223,591	$106,271,817	33.97%
2.	Invesco S&P 500 Equal Weight		385,255	$60,793,239	19.43%
3.	Vale S A	VALE	3,131,646	$49,667,906	15.87%
4.	Ishares Trust	IEF	39,159	$22,558,090	7.21%
5.	Microsoft Corp	MSFT	49,613	$18,656,473	5.96%