Q2 2025 · 13F-HR
BW Gestao de Investimentos Ltda.holdings as filed
Filed 2025-08-14 · accession 0001568280-25-000004
$2.35B
Reported value
106
Positions
2025-06-30
Period end
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $364.5M | 15.5% | 590,000 | PUT | SOLE |
| 464287655 | IWM | ISHARES TR | $237.4M | 10.1% | 1,100,000 | PUT | SOLE |
| 74935Q107 | RBA | RB GLOBAL INC | $79.1M | 3.36% | 745,298 | Common | SOLE |
| 88033G407 | THC | TENET HEALTHCARE CORP | $75.7M | 3.21% | 429,855 | Common | SOLE |
| 00214Q104 | ARKK | ARK ETF TR | $70.3M | 2.99% | 1,000,000 | PUT | SOLE |
| 464287655 | IWM | ISHARES TR | $64.7M | 2.75% | 300,000 | CALL | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $61.8M | 2.62% | 100,000 | CALL | SOLE |
| 464286400 | EWZ | ISHARES INC | $57.7M | 2.45% | 2,000,000 | CALL | SOLE |
| 46090E103 | QQQ | INVESCO QQQ TR | $55.2M | 2.34% | 100,000 | PUT | SOLE |
| 88033G407 | THC | TENET HEALTHCARE CORP | $52.8M | 2.24% | 300,000 | CALL | SOLE |
| 82452J109 | FOUR | SHIFT4 PMTS INC | $41.8M | 1.78% | 421,927 | Common | SOLE |
| G97822103 | PRGO | PERRIGO CO PLC | $39.3M | 1.67% | 1,469,524 | Common | SOLE |
| 69331C108 | PCG | PG&E CORP | $39.0M | 1.66% | 2,800,000 | CALL | SOLE |
| 67059N108 | NTNX | NUTANIX INC | $38.9M | 1.65% | 508,556 | Common | SOLE |
| L44385109 | GLOB | GLOBANT S A | $38.9M | 1.65% | 427,828 | Common | SOLE |
| 126650100 | CVS | CVS HEALTH CORP | $34.5M | 1.47% | 500,000 | CALL | SOLE |
| 278865100 | ECL | ECOLAB INC | $34.4M | 1.46% | 127,505 | Common | SOLE |
| 00214Q104 | ARKK | ARK ETF TR | $31.6M | 1.34% | 450,000 | CALL | SOLE |
| 81369Y209 | XLV | SELECT SECTOR SPDR TR | $30.9M | 1.31% | 229,000 | Common | SOLE |
| 82452J109 | FOUR | SHIFT4 PMTS INC | $29.7M | 1.26% | 300,000 | CALL | SOLE |
| 88160R101 | TSLA | TESLA INC | $29.7M | 1.26% | 93,500 | PUT | SOLE |
| 78464A698 | KRE | SPDR SERIES TRUST | $29.1M | 1.24% | 489,562 | Common | SOLE |
| 01626W101 | ALIT | ALIGHT INC | $28.2M | 1.20% | 4,991,011 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $27.7M | 1.18% | 55,685 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $26.7M | 1.13% | 121,496 | Common | SOLE |
| M2029K104 | BIRK | BIRKENSTOCK HOLDING PLC | $26.1M | 1.11% | 530,574 | Common | SOLE |
| 464288513 | HYG | ISHARES TR | $24.6M | 1.05% | 305,000 | PUT | SOLE |
| 629377508 | NRG | NRG ENERGY INC | $24.4M | 1.04% | 152,000 | Common | SOLE |
| 281020107 | EIX | EDISON INTL | $24.1M | 1.03% | 468,000 | CALL | SOLE |
| 78464A714 | XRT | SPDR SERIES TRUST | $23.1M | 0.98% | 300,000 | PUT | SOLE |
| N00985106 | AER | AERCAP HOLDINGS NV | $22.7M | 0.96% | 194,045 | Common | SOLE |
| 382550101 | GT | GOODYEAR TIRE & RUBR CO | $21.8M | 0.93% | 2,104,785 | Common | SOLE |
| G1890L107 | CPRI | CAPRI HOLDINGS LIMITED | $21.7M | 0.92% | 1,228,299 | Common | SOLE |
| 09260D107 | BX | BLACKSTONE INC | $20.8M | 0.88% | 139,230 | Common | SOLE |
| 81369Y605 | XLF | SELECT SECTOR SPDR TR | $20.3M | 0.86% | 387,400 | Common | SOLE |
| 500767306 | KWEB | KRANESHARES TRUST | $20.1M | 0.86% | 586,800 | Common | SOLE |
| 67059N108 | NTNX | NUTANIX INC | $19.9M | 0.84% | 260,000 | CALL | SOLE |
| 464288752 | ITB | ISHARES TR | $18.6M | 0.79% | 200,000 | PUT | SOLE |
| 78464A698 | KRE | SPDR SERIES TRUST | $17.8M | 0.76% | 300,000 | PUT | SOLE |
| G21307106 | CINT | CI&T INC | $17.2M | 0.73% | 2,882,650 | Common | SOLE |
| 023939101 | AMTM | AMENTUM HOLDINGS INC | $16.9M | 0.72% | 715,065 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $16.8M | 0.71% | 22,700 | Common | SOLE |
| 39525U107 | GFR | GREENFIRE RES LTD NEW | $14.7M | 0.62% | 3,296,823 | Common | SOLE |
| 665531307 | NOG | NORTHERN OIL & GAS INC | $14.7M | 0.62% | 517,641 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC | $14.7M | 0.62% | 53,200 | Common | SOLE |
| 126650100 | CVS | CVS HEALTH CORP | $14.5M | 0.62% | 210,000 | Common | SOLE |
| 90364P105 | PATH | UIPATH INC | $14.0M | 0.59% | 1,092,150 | Common | SOLE |
| 707569109 | PENN | PENN ENTERTAINMENT INC | $13.0M | 0.55% | 726,182 | Common | SOLE |
| G21810109 | CLVT | CLARIVATE PLC | $12.3M | 0.52% | 2,865,021 | Common | SOLE |
| H5919C104 | ONON | ON HLDG AG | $11.9M | 0.50% | 228,000 | Common | SOLE |
| 69374H857 | CALF | PACER FDS TR | $11.6M | 0.49% | 291,259 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $11.3M | 0.48% | 64,071 | Common | SOLE |
| 707569109 | PENN | PENN ENTERTAINMENT INC | $10.7M | 0.46% | 600,000 | CALL | SOLE |
| 143658300 | CCL1EUR | CARNIVAL CORP | $10.7M | 0.45% | 379,999 | Common | SOLE |
| 49177J102 | KVUE | KENVUE INC | $10.5M | 0.44% | 500,000 | CALL | SOLE |
| 46090E103 | QQQ | INVESCO QQQ TR | $10.4M | 0.44% | 18,764 | Common | SOLE |
| 459506101 | IFF | INTERNATIONAL FLAVORS&FRAGRA | $9.4M | 0.40% | 128,225 | Common | SOLE |
| 72703H101 | PLNT | PLANET FITNESS INC | $9.3M | 0.39% | 85,061 | Common | SOLE |
| 94106B101 | WCN | WASTE CONNECTIONS INC | $9.2M | 0.39% | 49,458 | Common | SOLE |
| N4732M103 | JBS | JBS N.V. | $8.8M | 0.37% | 602,000 | Common | SOLE |
| G3643J108 | FLUT | FLUTTER ENTMT PLC | $8.7M | 0.37% | 30,400 | Common | SOLE |
| 15101Q207 | CLS | CELESTICA INC | $8.3M | 0.35% | 53,200 | Common | SOLE |
| 81369Y605 | XLF | SELECT SECTOR SPDR TR | $7.9M | 0.33% | 150,000 | CALL | SOLE |
| G3730V105 | FTAI | FTAI AVIATION LTD | $7.3M | 0.31% | 63,610 | Common | SOLE |
| 29414B104 | EPAM | EPAM SYS INC | $7.3M | 0.31% | 41,300 | Common | SOLE |
| H8088L103 | SRAD | SPORTRADAR GROUP AG | $6.9M | 0.29% | 247,000 | Common | SOLE |
| 382550101 | GT | GOODYEAR TIRE & RUBR CO | $6.2M | 0.26% | 600,000 | CALL | SOLE |
| 01626W101 | ALIT | ALIGHT INC | $5.7M | 0.24% | 1,000,000 | CALL | SOLE |
| 26884L109 | EQT | EQT CORP | $5.5M | 0.24% | 95,001 | Common | SOLE |
| P31076105 | CPA | COPA HOLDINGS SA | $5.5M | 0.23% | 50,000 | Common | SOLE |
| 441593100 | HLI | HOULIHAN LOKEY INC | $5.5M | 0.23% | 30,400 | Common | SOLE |
| 248356107 | DNN | DENISON MINES CORP | $5.3M | 0.23% | 2,930,000 | Common | SOLE |
| 165167735 | EXE | EXPAND ENERGY CORPORATION | $5.3M | 0.23% | 45,600 | Common | SOLE |
| G9470A102 | VTEX | VTEX | $4.9M | 0.21% | 746,757 | Common | SOLE |
| 007903107 | AMD | ADVANCED MICRO DEVICES INC | $4.9M | 0.21% | 34,200 | Common | SOLE |
| 824348106 | SHW | SHERWIN WILLIAMS CO | $4.4M | 0.19% | 12,914 | Common | SOLE |
| 697900108 | PAAS | PAN AMERN SILVER CORP | $4.3M | 0.18% | 151,999 | Common | SOLE |
| 26856L103 | ELF | E L F BEAUTY INC | $4.3M | 0.18% | 34,200 | Common | SOLE |
| 47233W109 | JEF | JEFFERIES FINL GROUP INC | $4.2M | 0.18% | 76,000 | Common | SOLE |
| G98239109 | XP | XP INC | $4.1M | 0.18% | 204,177 | Common | SOLE |
| 109641100 | EAT | BRINKER INTL INC | $4.1M | 0.17% | 22,800 | Common | SOLE |
| 011532108 | AGI | ALAMOS GOLD INC NEW | $4.0M | 0.17% | 152,000 | Common | SOLE |
| 58733R102 | MELI | MERCADOLIBRE INC | $4.0M | 0.17% | 1,520 | Common | SOLE |
| 231561101 | CW | CURTISS WRIGHT CORP | $3.7M | 0.16% | 7,600 | Common | SOLE |
| M2682V108 | CYBR | CYBERARK SOFTWARE LTD | $3.1M | 0.13% | 7,600 | Common | SOLE |
| 13321L108 | CCJ | CAMECO CORP | $3.0M | 0.13% | 40,000 | Common | SOLE |
| 008474108 | AEM | AGNICO EAGLE MINES LTD | $2.7M | 0.12% | 22,800 | Common | SOLE |
| 65340P106 | NXE | NEXGEN ENERGY LTD | $2.7M | 0.11% | 388,200 | Common | SOLE |
| 910047109 | UAL | UNITED AIRLS HLDGS INC | $2.4M | 0.10% | 30,400 | Common | SOLE |
| 771049103 | RBLX | ROBLOX CORP | $2.4M | 0.10% | 22,800 | Common | SOLE |
| 42824C109 | HPE | HEWLETT PACKARD ENTERPRISE C | $2.3M | 0.10% | 114,000 | Common | SOLE |
| 46578C108 | IE | IVANHOE ELECTRIC INC | $2.3M | 0.10% | 253,223 | Common | SOLE |
| 35671D857 | FCX | FREEPORT-MCMORAN INC | $1.6M | 0.07% | 38,000 | Common | SOLE |
| 037833100 | AAPL | APPLE INC | $1.6M | 0.07% | 7,966 | Common | SOLE |
| 548661107 | LOW | LOWES COS INC | $1.5M | 0.07% | 6,965 | Common | SOLE |
| 146869102 | CVNA | CARVANA CO | $1.3M | 0.05% | 3,800 | Common | SOLE |
| 279158109 | EC | ECOPETROL S A | $1.0M | 0.04% | 114,000 | Common | SOLE |
| 217204106 | CPRT | COPART INC | $915,401 | 0.04% | 18,655 | Common | SOLE |
| 826599102 | SGML | SIGMA LITHIUM CORPORATION | $900,000 | 0.04% | 200,000 | CALL | SOLE |
| 26874R108 | E | ENI S P A | $810,500 | 0.03% | 25,000 | Common | SOLE |
| 916896103 | UEC | URANIUM ENERGY CORP | $680,000 | 0.03% | 100,000 | Common | SOLE |
| 58463J304 | MPT | MEDICAL PPTYS TRUST INC | $517,200 | 0.02% | 120,000 | Common | SOLE |
| H8817H100 | RIG | TRANSOCEAN LTD | $388,500 | 0.02% | 150,000 | Common | SOLE |
| 29244A102 | EDN | EMPRESA DIST Y COMERCIAL NOR | $385,641 | 0.02% | 14,558 | Common | SOLE |
| 40090E106 | CIB | GRUPO CIBEST SA | $351,044 | 0.01% | 7,600 | Common | SOLE |
| 92837L109 | VIST | VISTA ENERGY S.A.B. DE C.V. | $350,543 | 0.01% | 7,332 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.