— Know what they know.
Not Investment Advice
Asset Manager ← All Institutions

BW Gestao de Investimentos Ltda.

AV. BRIGADEIRO FARIA LIMA, 4440 15TH FLOOR, SAO PAULO, D5 04538-132 • 55 11 3095 2832

Q3 2025 · Filed 2025-11-13
Market Value
$1.2B
+30.3%
Holdings
116
+12
New Purchases
43
Added To
22
Closed
25
Reduced
20
Top 10 Concentration
42.4%
Turnover
58.6%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IVV 8.92% 0.00% +8.92% $104M
PATH 4.27% 1.57% +2.70% $50M
EWZ 2.22% 0.00% +2.22% $26M
DKS 2.00% 0.00% +2.00% $23M
AA 1.95% 0.00% +1.95% $23M
COPX 1.85% 0.00% +1.85% $22M
OC 1.75% 0.00% +1.75% $20M
VRNS 1.58% 0.00% +1.58% $18M
WIX 1.34% 0.00% +1.34% $16M
EXE 1.94% 0.60% +1.34% $23M
TECK 1.22% 0.00% +1.22% $14M
KVUE 1.15% 0.00% +1.15% $13M
EQT 1.56% 0.62% +0.94% $18M
TER 0.86% 0.00% +0.86% $10M
HUT.TO 0.84% 0.00% +0.84% $10M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
KRE 0.00% 3.26% -3.26% $0
GLOB 1.88% 4.35% -2.47% $22M
AMZN 0.67% 2.99% -2.32% $8M
XLF 0.00% 2.27% -2.27% $0
MSFT 0.98% 3.10% -2.12% $11M
META 0.00% 1.88% -1.88% $0
BX 0.49% 2.33% -1.84% $6M
AVGO 0.00% 1.64% -1.64% $0
NRG 1.11% 2.73% -1.62% $13M
GT 1.01% 2.45% -1.44% $12M
PRGO 3.03% 4.40% -1.37% $35M
CALF 0.00% 1.30% -1.30% $0
AER 1.26% 2.54% -1.28% $15M
GOOGL 0.00% 1.27% -1.27% $0
THC 7.30% 8.48% -1.18% $85M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 29.6%
Technology 18.3%
Basic Materials 12.2%
Utilities 11.3%
Industrials 8.4%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 11 $128M 11.0%
Large Cap 52 $538M 46.3%
Mid Cap 41 $362M 31.1%
Small Cap 12 $135M 11.6%

Portfolio Analytics

Avg Market Cap
$218.3B
Median Market Cap
$13.9B
Avg P/E
32.5
Median P/E
20.8
Avg Dividend Yield
0.01%
Avg Beta
1.19
# Stocks
105
# ETFs / Funds
11

Top Holdings (116 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 IVV 8.92% 155,000 $104M $669.30 +155,000 NEW
2 THC 7.30% 417,995 $85M $203.04 $9M -11,860 -2.8%
3 PATH 4.27% 3,712,150 $50M $13.38 $36M +2,620,000 +239.9%
4 FOUR 4.21% 632,838 $49M $77.40 $7M +210,911 +50.0%
5 XLV 3.60% 301,000 $42M $139.17 $11M +72,000 +31.4%
6 NTNX 3.56% 556,654 $41M $74.39 $3M +48,098 +9.5%
7 PRGO 3.03% 1,582,119 $35M $22.27 -$4M +112,595 +7.7%
8 ECL 2.77% 117,824 $32M $273.86 -$2M -9,681 -7.6%
9 ALIT 2.54% 9,069,880 $30M $3.26 $1M +4,078,869 +81.7%
10 EWZ 2.22% 832,800 $26M $31.00 +832,800 NEW
11 CPRI 2.17% 1,267,373 $25M $19.92 $4M +39,074 +3.2%
12 CVS 2.01% 310,000 $23M $75.39 $9M +100,000 +47.6%
13 DKS 2.00% 104,428 $23M $222.22 +104,428 NEW
14 AA 1.95% 690,000 $23M $32.89 +690,000 NEW
15 EXE 1.94% 212,249 $23M $106.24 $17M +166,649 +365.5%
16 GLOB 1.88% 381,956 $22M $57.38 -$17M -45,872 -10.7%
17 COPX 1.85% 359,999 $22M $59.81 +359,999 NEW
18 OC 1.75% 144,000 $20M $141.46 +144,000 NEW
19 VRNS 1.58% 319,751 $18M $57.47 +319,751 NEW
20 EQT 1.56% 333,013 $18M $54.43 $13M +238,012 +250.5%
21 WIX 1.34% 88,000 $16M $177.63 +88,000 NEW
22 AER 1.26% 121,043 $15M $121.00 -$8M -73,002 -37.6%
23 TECK 1.22% 323,600 $14M $43.89 +323,600 NEW
24 PENN 1.20% 726,182 $14M $19.26 $1M
25 KWEB 1.17% 323,100 $14M $42.01 -$7M -263,700 -44.9%
26 KVUE 1.15% 820,760 $13M $16.23 +820,760 NEW
27 IFF 1.14% 215,555 $13M $61.54 $4M +87,330 +68.1%
28 NRG 1.11% 80,000 $13M $161.95 -$11M -72,000 -47.4%
29 NOG 1.10% 517,641 $13M $24.80 -$2M
30 AMTM 1.05% 511,477 $12M $23.95 -$5M -203,588 -28.5%
31 PLNT 1.03% 115,061 $12M $103.80 $3M +30,000 +35.3%
32 GT 1.01% 1,568,436 $12M $7.48 -$10M -536,349 -25.5%
33 MSFT 0.98% 22,056 $11M $517.95 -$16M -33,629 -60.4%
34 CCJ 0.97% 135,000 $11M $83.86 $8M +95,000 +237.5%
35 CLVT 0.94% 2,865,021 $11M $3.83 -$1M
36 JEF 0.90% 160,000 $10M $65.42 $6M +84,000 +110.5%
37 EAT 0.87% 80,000 $10M $126.68 $6M +57,200 +250.9%
38 TER 0.86% 72,895 $10M $137.64 +72,895 NEW
39 HLI 0.85% 48,000 $10M $205.32 $4M +17,600 +57.9%
40 HUT.TO 0.84% 280,000 $10M $34.81 +280,000 NEW
41 EVEX 0.81% 2,462,421 $9M $3.81 +2,462,421 NEW
42 HPE 0.76% 360,000 $9M $24.56 $7M +246,000 +215.8%
43 ONON 0.73% 200,000 $8M $42.35 -$3M -28,000 -12.3%
44 KSA 0.70% 200,000 $8M $40.58 +200,000 NEW
45 AMZN 0.67% 35,420 $8M $219.57 -$19M -86,076 -70.8%
46 WCN 0.63% 41,630 $7M $175.80 -$2M -7,828 -15.8%
47 CW 0.56% 12,000 $7M $542.94 $3M +4,400 +57.9%
48 NGD 0.54% 880,000 $6M $7.18 +880,000 NEW
49 MNDY 0.54% 32,520 $6M $193.69 +32,520 NEW
50 EPAM 0.54% 41,300 $6M $150.79 -$1M
51 CLS 0.51% 24,000 $6M $246.38 -$2M -29,200 -54.9%
52 RRC 0.50% 154,967 $6M $37.64 +154,967 NEW
53 AR 0.50% 171,601 $6M $33.56 +171,601 NEW
54 BX 0.49% 33,430 $6M $170.85 -$15M -105,800 -76.0%
55 RBLX 0.48% 40,000 $6M $138.52 $3M +17,200 +75.4%
56 LTM 0.47% 120,000 $5M $45.25 +120,000 NEW
57 NI 0.45% 120,000 $5M $43.30 +120,000 NEW
58 IAG 0.44% 400,000 $5M $12.93 +400,000 NEW
59 ANF 0.44% 60,000 $5M $85.55 +60,000 NEW
60 AEM 0.43% 30,000 $5M $168.56 $2M +7,200 +31.6%
61 NU 0.41% 300,000 $5M $16.01 +300,000 NEW
62 FCX 0.40% 120,000 $5M $39.22 $3M +82,000 +215.8%
63 YPF 0.40% 191,000 $5M $24.29 +191,000 NEW
64 CCL 0.40% 160,000 $5M $28.91 -$6M -219,999 -57.9%
65 AUGO 0.36% 111,729 $4M $37.21 +111,729 NEW
66 EIS 0.34% 40,000 $4M $100.30 +40,000 NEW
67 ALB 0.33% 46,930 $4M $81.08 +46,930 NEW
68 STNE 0.33% 200,000 $4M $18.91 +200,000 NEW
69 EEFT 0.32% 42,744 $4M $87.81 +42,744 NEW
70 B 0.28% 100,000 $3M $32.77 +100,000 NEW
71 ELF 0.27% 24,000 $3M $132.48 -$1M -10,200 -29.8%
72 VTEX 0.26% 700,757 $3M $4.38 -$2M -46,000 -6.2%
73 CVNA 0.26% 8,000 $3M $377.24 $2M +4,200 +110.5%
74 CENX 0.25% 100,000 $3M $29.36 +100,000 NEW
75 SHW 0.23% 7,814 $3M $346.26 -$2M -5,100 -39.5%
76 SRAD 0.23% 100,002 $3M $26.90 -$4M -146,998 -59.5%
77 AAPL 0.17% 7,966 $2M $254.63 $394K
78 V 0.17% 5,786 $2M $341.38 +5,786 NEW
79 EOG 0.15% 15,488 $2M $112.12 +15,488 NEW
80 CTRA 0.14% 71,014 $2M $23.65 +71,014 NEW
81 TTMI 0.12% 24,000 $1M $57.60 +24,000 NEW
82 BTDR 0.12% 80,001 $1M $17.09 +80,001 NEW
83 CNNE 0.11% 71,015 $1M $18.31 +71,015 NEW
84 CNX 0.11% 38,789 $1M $32.12 +38,789 NEW
85 CRK 0.10% 57,682 $1M $19.83 +57,682 NEW
86 OPEN 0.08% 123,400 $983K $7.97 +123,400 NEW
87 TSLA 0.07% 1,890 $841K $444.72 +1,890 NEW
88 CPRT 0.07% 18,655 $839K $44.97 -$76K
89 LOW 0.07% 3,215 $808K $251.31 -$737K -3,750 -53.8%
90 GPOR 0.07% 4,311 $780K $180.98 +4,311 NEW
91 TENB 0.06% 22,047 $643K $29.16 +22,047 NEW
92 AMD —% -$5M -34,200 -100.0% SOLD
93 RIG —% -$388K -150,000 -100.0% SOLD
94 EDN —% -$386K -14,558 -100.0% SOLD
95 META —% -$17M -22,700 -100.0% SOLD
96 UEC —% -$680K -100,000 -100.0% SOLD
97 AGI —% -$4M -152,000 -100.0% SOLD
98 UAL —% -$2M -30,400 -100.0% SOLD
99 KRE —% -$29M -489,562 -100.0% SOLD
100 MELI —% -$4M -1,520 -100.0% SOLD

Options Breakdown

18 Calls $128M Call Value 13 Puts $838M Put Value 6.54 P/C Ratio

Top Calls

SymbolSharesValueStatus
PCG 2,800,000 $42M
KVUE 1,600,000 $26M
EIX 468,000 $26M
PATH 1,000,000 $13M NEW
HUT.TO 300,000 $10M NEW
GT 600,000 $4M
ALIT 981,000 $3M
THC 8,000 $2M
SGML 145,200 $931K
ARKK $0 SOLD

Top Puts

SymbolSharesValueStatus
IWM 1,100,000 $266M
TSLA 480,000 $213M
SPY 200,000 $133M
ARKK 1,000,000 $86M
XRT 600,000 $52M
ITB 300,000 $32M
XLV 230,000 $32M NEW
KRE 300,000 $19M
ARIS 200,000 $2M NEW
UEC 100,000 $1M NEW

New Positions

SymbolValue% Port
IVV $104M 8.92%
EWZ $26M 2.22%
DKS $23M 2.00%
AA $23M 1.95%
COPX $22M 1.85%
OC $20M 1.75%
VRNS $18M 1.58%
WIX $16M 1.34%
TECK $14M 1.22%
KVUE $13M 1.15%
TER $10M 0.86%
HUT.TO $10M 0.84%
EVEX $9M 0.81%
KSA $8M 0.70%
NGD $6M 0.54%

Sold Out Positions

SymbolValue% Port
CPA —%
E —%
EDN —%
AGI —%
VIST —%
PAAS —%
MPT —%
NXE —%
EC —%
RIG —%
AMD —%
META —%
MELI —%
KRE —%
UEC —%
View SEC EDGAR Filings for BW Gestao de Investimentos Ltda. →

Sign in to InsiderStreet

You'll also get our free weekly newsletter with
smart money signals, market insights, and alpha ideas.
Unsubscribe anytime.

For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms