Foreign Investors Return to B3 as Squadra Flags Hapvida Mistake
Foreign investors put US$331 million into B3 equities on 21 August 2026 as the Ibovespa rose 1.85 percent. The same week, Squadra Investimentos called Hapvida the biggest investment mistake in its history and cut its stake. The post Foreign Investors Return to B3 as Squadra Flags Hapvida Mistake appeared first on The Rio Times .
On 21 August 2026, foreign investors returned to Brazilian equities, injecting a net R$1.7 billion (≈US$331 million) into the market. This marked a reversal of the record outflow pace observed earlier in August, as data released by B3 showed. The Ibovespa rose 1.85 percent that day, offering relief after a challenging start to the month.
The return of foreign money often sets the tone for the local market, and even though the August balance for foreign investors B3 remained negative at R$21.4 billion (≈US$4.2 billion), the single-day inflow signaled a potential shift in sentiment. Squadra Investimentos, led by Guilherme Aché, admitted that its stake in Hapvida was its "biggest investment mistake in its history", cutting its position from 5.15 percent to about 3.87 percent.
HAPV3 shares have dropped 56.9 percent year-to-date, with a market value of R$3.16 billion (≈US$615 million). The strong year-to-date balance for foreign investors B3, at R$14.9 billion (≈US$2.9 billion), suggests that despite the August reversal, 2026 remains a net-buying year.
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