BW Gestao de Investimentos Ltda.
13F Reported Value
ⓘ$5.1B
incl. option notional
Equity Holdings
ⓘ$4.1B
Option Notional
ⓘ$905.8M
$747.3M puts / $158.5M calls
Holdings
307
Latest Filing
2026-06-30
Filing Quarter
Q2 2026
Portfolio Overview
BW Gestao de Investimentos Ltda. disclosed 307 positions worth $5.1B in its Form 13F-HR for Q2 2026 — $4.1B in common stock plus $905.8M of put/call option positions (reported at underlying notional value, not premium at risk), led by $SPY (SPDR S&P 500 ETF TRUST) at 22.1% of the equity portfolio. During the quarter the fund opened 142 new positions and exited 106 — including a new stake in $SPY and a full exit from $SPY. The portfolio is most concentrated in Other (44.8% of disclosed assets). All figures are sourced directly from BW Gestao de Investimentos Ltda.’s Form 13F-HR filing with the SEC under CIK 1568280.
AI Fund Analysis
Concentrating
$RBA
$THC
$MSFT
$ECL
$CENX$MSFT
$AMZN
$BXSector Allocation
AUM History
Top Equity Holdings by Value
Option Positions
13F rules report options at the value of the underlying shares (notional) — not the premium paid or capital at risk. Shown separately from the equity sleeve above.
Quarterly Activity — Q2 2026
Click any card to unlockTop Holdings
- —
Quality
$916.8M1,227,723 sh ISHARES TR - CORE S&P500 ETF
—Quality
$818.8M1,093,321 sh- 86.2#4
Quality
$248.2M215,000 sh ISHARES TR - RUSSELL 2000 ETF PUT
—Quality
$180.3M600,000 sh- 53.9
Quality
$105.2M250,000 sh - $100.4M587,335 sh
- $90.6M123,000 sh
- 67.3
Quality
$57.6M495,048 sh - 66.2
Quality
$52.3M279,811 sh ISHARES INC - MSCI BRAZIL ETF PUT
—Quality
$51.8M1,500,000 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
 SPDR S&P 500 ETF TRUST$SPY | — | $916.8M | 1,227,723 |
| ISHARES TR - CORE S&P500 ETF | — | $818.8M | 1,093,321 |
 MICRON TECHNOLOGY INC$MUPUT | 86.2#4 | $248.2M | 215,000 |
| ISHARES TR - RUSSELL 2000 ETF PUT | — | $180.3M | 600,000 |
 Tesla, Inc.$TSLAPUT | 53.9 | $105.2M | 250,000 |
 SPACE EXPLORATION TECHNOLOGIES CORP$SPCX | — | $100.4M | 587,335 |
 INVESCO QQQ TRUST, SERIES 1$QQQPUT | — | $90.6M | 123,000 |
| RB GLOBAL INC.$RBA | 67.3 | $57.6M | 495,048 |
| TENET HEALTHCARE CORP$THC | 66.2 | $52.3M | 279,811 |
| ISHARES INC - MSCI BRAZIL ETF PUT | — | $51.8M | 1,500,000 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of BW Gestao de Investimentos Ltda.'s 307 positions.
Showing top 10 of 307 holdings.
Sector Allocation
Other
$1.9B
Technology
$740.6M
Financials
$320.0M
Industrials
$288.4M
Utilities
$240.2M
Materials
$221.2M
Consumer Discretionary
$186.5M
Communication Services
$94.5M
Top Holdings — BW Gestao de Investimentos Ltda. (Q2 2026)
Top 150 of 307 disclosed positions (by reported value) from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | $SPY | SPDR S&P 500 ETF TRUST | $916.8M | 22.1% | NEW | — |
| 2 | — | ISHARES TR - CORE S&P500 ETF | $818.8M | 19.7% | +264% | — |
| 3 | $MUPUT | MICRON TECHNOLOGY INC | $248.2M | — | +330% | 86.2 |
| 4 | — | ISHARES TR - RUSSELL 2000 ETF | $180.3M | — | -33% | — |
| 5 | $TSLAPUT | Tesla, Inc. | $105.2M | — | +25% | 53.9 |
| 6 | $SPCX | SPACE EXPLORATION TECHNOLOGIES CORP | $100.4M | 2.4% | NEW | — |
| 7 | $QQQPUT | INVESCO QQQ TRUST, SERIES 1 | $90.6M | — | +23% | — |
| 8 | $RBA | RB GLOBAL INC. | $57.6M | 1.4% | -32% | 67.3 |
| 9 | $THC | TENET HEALTHCARE CORP | $52.3M | 1.3% | -13% | 66.2 |
| 10 | — | ISHARES INC - MSCI BRAZIL ETF | $51.8M | — | NEW | — |
| 11 | — | ISHARES INC - MSCI BRAZIL ETF | $51.8M | — | NEW | — |
| 12 | $MU | MICRON TECHNOLOGY INC | $45.3M | 1.1% | NEW | 86.2 |
| 13 | $MSFT | MICROSOFT CORP | $43.3M | 1.0% | +124% | 79.8 |
| 14 | $ECL | ECOLAB INC. | $40.4M | 1.0% | +76% | 63.3 |
| 15 | — | VANECK ETF TRUST - SEMICONDUCTR ETF | $39.4M | — | NEW | — |
| 16 | $MSFTCALL | MICROSOFT CORP | $37.3M | — | NEW | 79.8 |
| 17 |  $PLNTCALL | Planet Fitness, Inc. | $36.5M | — | NEW | 67.6 |
| 18 | $AMZN | AMAZON COM INC | $34.9M | 0.8% | +177% | 68.7 |
| 19 | — | GLOBAL X FDS - GLOBAL X COPPER | $34.9M | 0.8% | +11% | — |
| 20 |  $ECHO | EchoStar CORP | $32.6M | 0.8% | -6% | 32.8 |
| 21 | — | ISHARES TR - ISHARES SEMICDTR | $32.0M | — | NEW | — |
| 22 | — | SELECT SECTOR SPDR TR - ST STR CARE ETF | $31.9M | 0.8% | +0% | — |
| 23 |  $GOOGL | Alphabet Inc. | $31.8M | 0.8% | NEW | 78.2 |
| 24 |  $ASML | ASML HOLDING NV | $29.8M | 0.7% | NEW | — |
| 25 |  $MDLN | Medline Inc. | $27.2M | 0.7% | +57% | 62.5 |
| 26 | $BX | Blackstone Inc. | $25.4M | 0.6% | +10% | 74.4 |
| 27 |  $GNRC | GENERAC HOLDINGS INC. | $24.2M | 0.6% | NEW | 54.4 |
| 28 | $CENX | CENTURY ALUMINUM CO | $24.1M | 0.6% | +69% | 63.3 |
| 29 |  $SHW | SHERWIN WILLIAMS CO | $23.6M | 0.6% | -12% | 61.3 |
| 30 |  $PH | Parker-Hannifin Corp | $23.5M | 0.6% | +14% | 65.8 |
| 31 |  $NTNX | Nutanix, Inc. | $23.0M | 0.6% | -28% | 70.2 |
| 32 |  $AAPL | Apple Inc. | $22.4M | 0.5% | +17% | 76.4 |
| 33 |  $CLVT | CLARIVATE PLC | $21.7M | 0.5% | +70% | — |
| 34 |  $XEL | XCEL ENERGY INC | $20.6M | 0.5% | +5% | 56.4 |
| 35 | — | GLOBAL X FDS - LITHIUM BTRY ETF | $20.2M | 0.5% | +50% | — |
| 36 |  $YMM | Full Truck Alliance Co. Ltd. | $19.5M | 0.5% | +80% | — |
| 37 |  $ED | CONSOLIDATED EDISON INC | $18.8M | 0.5% | +4% | 67.3 |
| 38 |  $GLW | CORNING INC /NY | $18.6M | 0.5% | NEW | 73.7 |
| 39 |  $SO | SOUTHERN CO | $18.5M | 0.5% | -7% | 62 |
| 40 |  $MOS | MOSAIC CO | $18.5M | 0.5% | NEW | 39.2 |
| 41 |  $QCOMCALL | QUALCOMM INC/DE | $18.5M | — | NEW | 70.5 |
| 42 |  $AMD | ADVANCED MICRO DEVICES INC | $18.0M | 0.4% | +31% | 79.8 |
| 43 |  $FPS | Forgent Power Solutions, Inc. | $17.9M | 0.4% | -41% | — |
| 44 |  $AEP | AMERICAN ELECTRIC POWER CO INC | $17.6M | 0.4% | -16% | 66.8 |
| 45 |  $CNP | CENTERPOINT ENERGY INC | $16.9M | 0.4% | +4% | 53.2 |
| 46 |  $COF | CAPITAL ONE FINANCIAL CORP | $16.7M | 0.4% | +64% | 62.4 |
| 47 |  $WMB | WILLIAMS COMPANIES, INC. | $16.5M | 0.4% | +1% | 64.3 |
| 48 | — | ISHARES TR - MSCI EMG MKT ETF | $16.3M | 0.4% | +37% | — |
| 49 |  $TKR | TIMKEN CO | $16.0M | 0.4% | +57% | 54.4 |
| 50 |  $BKH | BLACK HILLS CORP /SD/ | $16.0M | 0.4% | +65% | 53.3 |
| 51 |  $DDOG | Datadog, Inc. | $15.9M | 0.4% | +76% | 71.4 |
| 52 |  $USB | US BANCORP \DE\ | $15.5M | 0.4% | NEW | 65.3 |
| 53 |  $RXT | Rackspace Technology, Inc. | $15.3M | 0.4% | NEW | 38.3 |
| 54 |  $BKU | BankUnited, Inc. | $15.3M | 0.4% | +17% | 52.7 |
| 55 |  $ETR | ENTERGY CORP /DE/ | $15.2M | 0.4% | NEW | 59.5 |
| 56 |  $FLG | FLAGSTAR BANK, NATIONAL ASSOCIATION | $15.2M | 0.4% | +7% | 37.6 |
| 57 |  $AAP | ADVANCE AUTO PARTS INC | $15.2M | 0.4% | NEW | 38.6 |
| 58 |  $CBRS | Cerebras Systems Inc. | $15.0M | 0.4% | NEW | — |
| 59 |  $SN | SharkNinja, Inc. | $14.7M | 0.3% | -9% | 66.8 |
| 60 |  $IDA | IDACORP INC | $14.5M | 0.3% | -4% | 51.1 |
| 61 |  $MWH | SOLV Energy, Inc. | $14.3M | 0.3% | +738% | — |
| 62 |  $NUE | NUCOR CORP | $14.2M | 0.3% | +219% | 61.7 |
| 63 |  $WFC | WELLS FARGO & COMPANY/MN | $14.1M | 0.3% | NEW | 61.8 |
| 64 |  $FIX | COMFORT SYSTEMS USA INC | $13.7M | 0.3% | -51% | 77.7 |
| 65 |  $PPL | PPL Corp | $13.5M | 0.3% | NEW | 55.7 |
| 66 |  $VG | Venture Global, Inc. | $13.4M | 0.3% | +12% | 69.5 |
| 67 |  $GIL | Gildan Activewear Inc. | $13.3M | 0.3% | +15% | — |
| 68 |  $AMAT | APPLIED MATERIALS INC /DE | $13.0M | 0.3% | NEW | 72.3 |
| 69 |  $HUT | Hut 8 Corp. | $12.8M | 0.3% | NEW | 37.4 |
| 70 |  $INIO | INNIO N.V. | $12.7M | 0.3% | NEW | — |
| 71 |  $FRVO | Fervo Energy Co | $12.6M | 0.3% | NEW | — |
| 72 |  $CW | CURTISS WRIGHT CORP | $12.6M | 0.3% | -6% | 69.5 |
| 73 |  $CAT | CATERPILLAR INC | $12.5M | 0.3% | +1624% | 66.5 |
| 74 |  $IFF | INTERNATIONAL FLAVORS & FRAGRANCES INC | $12.4M | 0.3% | -13% | 52.8 |
| 75 |  $PNFP | Pinnacle Financial Partners, Inc. | $12.4M | 0.3% | -11% | 54.5 |
| 76 |  $MKSI | MKS INC | $12.3M | 0.3% | NEW | 61.2 |
| 77 |  $TPG | TPG Inc. | $12.2M | 0.3% | NEW | 71.9 |
| 78 |  $COLB | COLUMBIA BANKING SYSTEM, INC. | $12.2M | 0.3% | -5% | 63.6 |
| 79 |  $OPTU | Optimum Communications, Inc. | $12.2M | 0.3% | +415% | 32.7 |
| 80 |  $ZION | ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/ | $12.0M | 0.3% | -34% | 68.9 |
| 81 |  $VLY | VALLEY NATIONAL BANCORP | $12.0M | 0.3% | +17% | 64.6 |
| 82 |  $EVRG | Evergy, Inc. | $11.9M | 0.3% | +21% | 53.2 |
| 83 |  $UCTT | Ultra Clean Holdings, Inc. | $11.8M | 0.3% | NEW | 40.1 |
| 84 |  $UNIT | Uniti Group Inc. | $11.8M | 0.3% | +0% | 71.7 |
| 85 |  $CPRI | Capri Holdings Ltd | $11.7M | 0.3% | -47% | — |
| 86 |  $ALLY | Ally Financial Inc. | $11.7M | 0.3% | +34% | 64.5 |
| 87 |  $HTO | H2O AMERICA | $11.3M | 0.3% | -16% | 59.8 |
| 88 |  $WCN | Waste Connections, Inc. | $11.3M | 0.3% | +25% | 68.2 |
| 89 |  $RVTY | REVVITY, INC. | $10.8M | 0.3% | +0% | 57.6 |
| 90 |  $NOW | ServiceNow, Inc. | $10.8M | 0.3% | +50% | 72.9 |
| 91 |  $DKS | DICK'S SPORTING GOODS, INC. | $10.7M | 0.3% | -56% | 63 |
| 92 |  $ICE | Intercontinental Exchange, Inc. | $10.6M | 0.3% | +312% | 73.7 |
| 93 |  $UNP | UNION PACIFIC CORP | $10.6M | 0.3% | NEW | 69.7 |
| 94 |  $QNT | Quantinuum Inc. | $10.5M | 0.3% | NEW | — |
| 95 |  $MMM | 3M CO | $10.4M | 0.3% | NEW | 64.9 |
| 96 | — | SELECT SECTOR SPDR TR - ST STR UTIL ETF | $10.2M | 0.3% | -75% | — |
| 97 |  $XRX | Xerox Holdings Corp | $10.2M | 0.3% | +172% | 44.8 |
| 98 |  $AEE | AMEREN CORP | $10.1M | 0.2% | NEW | 59.4 |
| 99 |  $UGI | UGI CORP /PA/ | $10.0M | 0.2% | -23% | 48.3 |
| 100 |  $DOCN | DigitalOcean Holdings, Inc. | $10.0M | 0.2% | -48% | 67.2 |
| 101 |  $PCG | PG&E Corp | $9.9M | 0.2% | +1% | 58.8 |
| 102 | — | FIRST TR EXCHANGE-TRADED FD - GBL WND ENRG ETF | $9.7M | 0.2% | NEW | — |
| 103 |  $SOC | Sable Offshore Corp. | $9.3M | 0.2% | +42% | — |
| 104 |  $EVEX | Eve Holding, Inc. | $9.3M | 0.2% | +0% | — |
| 105 |  $MSM | MSC INDUSTRIAL DIRECT CO INC | $9.2M | 0.2% | NEW | 50.2 |
| 106 |  $TH | Target Hospitality Corp. | $9.2M | 0.2% | NEW | 40.4 |
| 107 |  $ZM | Zoom Communications, Inc. | $9.2M | 0.2% | +165% | 70.5 |
| 108 |  $DLR | DIGITAL REALTY TRUST, INC. | $9.1M | 0.2% | NEW | 72.8 |
| 109 |  $WAL | WESTERN ALLIANCE BANCORPORATION | $9.0M | 0.2% | NEW | 67.5 |
| 110 |  $RBLX | Roblox Corp | $9.0M | 0.2% | NEW | 60.3 |
| 111 |  $DE | DEERE & CO | $8.9M | 0.2% | NEW | 55.4 |
| 112 |  $SEI | Solaris Energy Infrastructure, Inc. | $8.9M | 0.2% | -10% | 56.4 |
| 113 |  $ESI | Element Solutions Inc | $8.8M | 0.2% | NEW | 46.2 |
| 114 |  $ROST | ROSS STORES, INC. | $8.8M | 0.2% | -53% | 70.4 |
| 115 |  $QXOCALL | QXO, Inc. | $8.6M | — | NEW | 49 |
| 116 |  $CHTR | CHARTER COMMUNICATIONS, INC. /MO/ | $8.5M | 0.2% | NEW | 59 |
| 117 |  $LGN | Legence Corp. | $8.5M | 0.2% | NEW | 64.1 |
| 118 |  $MS | MORGAN STANLEY | $8.5M | 0.2% | -30% | 75.8 |
| 119 |  $PB | PROSPERITY BANCSHARES INC | $8.5M | 0.2% | NEW | 61.7 |
| 120 | $PLNT | Planet Fitness, Inc. | $8.4M | 0.2% | -15% | 67.6 |
| 121 |  $NXT | Nextpower Inc. | $8.3M | 0.2% | -20% | 69.1 |
| 122 |  $GLOB | Globant S.A. | $8.1M | 0.2% | -30% | — |
| 123 |  $EVR | Evercore Inc. | $8.0M | 0.2% | +12% | 76.9 |
| 124 |  $JBHT | HUNT J B TRANSPORT SERVICES INC | $8.0M | 0.2% | NEW | 60.2 |
| 125 |  $MAIR | Madison Air Solutions Corp | $7.8M | 0.2% | NEW | — |
| 126 |  $PCTY | Paylocity Holding Corp | $7.7M | 0.2% | +186% | 66.8 |
| 127 |  $VRNS | VARONIS SYSTEMS INC | $7.5M | 0.2% | +4% | 46.2 |
| 128 |  $AS | Amer Sports, Inc. | $7.5M | 0.2% | +5% | 64 |
| 129 |  $WBD | Warner Bros. Discovery, Inc. | $7.5M | 0.2% | -46% | 41.4 |
| 130 |  $GGB | GERDAU S.A. | $7.4M | 0.2% | NEW | — |
| 131 |  $B | BARRICK MINING CORP | $7.3M | 0.2% | +42% | 69.6 |
| 132 |  $V | VISA INC. | $7.3M | 0.2% | +31% | 82.9 |
| 133 |  $EXP | EAGLE MATERIALS INC | $7.1M | 0.2% | NEW | 57 |
| 134 |  $TECK | TECK RESOURCES LTD | $7.1M | 0.2% | NEW | — |
| 135 |  $WDAY | Workday, Inc. | $7.1M | 0.2% | NEW | 75.5 |
| 136 |  $BTDR | Bitdeer Technologies Group | $7.0M | 0.2% | NEW | — |
| 137 |  $RS | RELIANCE, INC. | $7.0M | 0.2% | NEW | 50.9 |
| 138 |  $SNOW | Snowflake Inc. | $6.9M | 0.2% | -38% | 54.9 |
| 139 |  $CCJ | CAMECO CORP | $6.9M | 0.2% | +36% | — |
| 140 |  $CIEN | CIENA CORP | $6.8M | 0.2% | -50% | 72.9 |
| 141 |  $IHRT | iHeartMedia, Inc. | $6.8M | 0.2% | NEW | 43.8 |
| 142 |  $TEAM | Atlassian Corp | $6.6M | 0.2% | +26% | 65.8 |
| 143 |  $PURR | Hyperliquid Strategies Inc | $6.5M | 0.2% | NEW | 41.5 |
| 144 |  $LPLA | LPL Financial Holdings Inc. | $6.3M | 0.1% | NEW | 72.1 |
| 145 |  $HBAN | HUNTINGTON BANCSHARES INC /MD/ | $6.1M | 0.1% | NEW | 65 |
| 146 |  $AMRZ | Amrize Ltd | $6.1M | 0.1% | -60% | — |
| 147 |  $KGC | KINROSS GOLD CORP | $6.1M | 0.1% | -15% | — |
| 148 |  $CINT | CI&T Inc | $6.0M | 0.1% | -6% | — |
| 149 |  $NWE | NorthWestern Energy Group, Inc. | $6.0M | 0.1% | NEW | 46.9 |
| 150 |  $PATH | UiPath, Inc. | $6.0M | 0.1% | -66% | 69.9 |
New Positions (142)
$SPY SPDR S&P 500 ETF TRUST$916.8M$SPCX SPACE EXPLORATION TECHNOLOGIES CORP$100.4M$MU MICRON TECHNOLOGY INC$45.3M$MSFTCALL MICROSOFT CORP$37.3M$PLNTCALL Planet Fitness, Inc.$36.5M$ASML ASML HOLDING NV$29.8M$GNRC GENERAC HOLDINGS INC.$24.2M$GLW CORNING INC /NY$18.6M$MOS MOSAIC CO$18.5M$QCOMCALL QUALCOMM INC/DE$18.5M$USB US BANCORP \DE\$15.5MExited Positions (106)
$SPYPUT SPDR S&P 500 ETF TRUST
$AVGO Broadcom Inc.$COFCALL CAPITAL ONE FINANCIAL CORP
$TLN Talen Energy Corp
$SLV iShares Silver Trust$NTNXCALL Nutanix, Inc.
$SWX Southwest Gas Holdings, Inc.
$NRG NRG ENERGY, INC.
$VST Vistra Corp.
$FE FIRSTENERGY CORP
$GE GENERAL ELECTRIC CO
$CLS CELESTICA INCBrowse Top Institutional Investors
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