Q3 2025 · 13F-HR
BW Gestao de Investimentos Ltda.holdings as filed
Filed 2025-11-13 · accession 0001568280-25-000008
$2.29B
Reported value
118
Positions
2025-09-30
Period end
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 464287655 | IWM | ISHARES TR | $266.2M | 11.6% | 1,100,000 | PUT | SOLE |
| 88160R101 | TSLA | TESLA INC | $213.5M | 9.33% | 480,000 | PUT | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $133.2M | 5.83% | 200,000 | PUT | SOLE |
| 464287200 | IVV | ISHARES TR | $103.7M | 4.54% | 155,000 | Common | SOLE |
| 00214Q104 | ARKK | ARK ETF TR | $86.3M | 3.77% | 1,000,000 | PUT | SOLE |
| 88033G407 | THC | TENET HEALTHCARE CORP | $84.9M | 3.71% | 417,995 | Common | SOLE |
| 74935Q107 | RBA | RB GLOBAL INC | $74.3M | 3.25% | 685,556 | Common | SOLE |
| 78464A714 | XRT | SPDR SERIES TRUST | $51.7M | 2.26% | 600,000 | PUT | SOLE |
| 90364P105 | PATH | UIPATH INC | $49.7M | 2.17% | 3,712,150 | Common | SOLE |
| 82452J109 | FOUR | SHIFT4 PMTS INC | $49.0M | 2.14% | 632,838 | Common | SOLE |
| 69331C108 | PCG | PG&E CORP | $42.2M | 1.85% | 2,800,000 | CALL | SOLE |
| 81369Y209 | XLV | SELECT SECTOR SPDR TR | $41.9M | 1.83% | 301,000 | Common | SOLE |
| 67059N108 | NTNX | NUTANIX INC | $41.4M | 1.81% | 556,654 | Common | SOLE |
| G97822103 | PRGO | PERRIGO CO PLC | $35.2M | 1.54% | 1,582,119 | Common | SOLE |
| 278865100 | ECL | ECOLAB INC | $32.3M | 1.41% | 117,824 | Common | SOLE |
| 464288752 | ITB | ISHARES TR | $32.2M | 1.41% | 300,000 | PUT | SOLE |
| 81369Y209 | XLV | SELECT SECTOR SPDR TR | $32.0M | 1.40% | 230,000 | PUT | SOLE |
| 01626W101 | ALIT | ALIGHT INC | $29.6M | 1.29% | 9,069,880 | Common | SOLE |
| 49177J102 | KVUE | KENVUE INC | $26.0M | 1.14% | 1,600,000 | CALL | SOLE |
| 281020107 | EIX | EDISON INTL | $25.9M | 1.13% | 468,000 | CALL | SOLE |
| 464286400 | EWZ | ISHARES INC | $25.8M | 1.13% | 832,800 | Common | SOLE |
| G1890L107 | CPRI | CAPRI HOLDINGS LIMITED | $25.2M | 1.10% | 1,267,373 | Common | SOLE |
| 126650100 | CVS | CVS HEALTH CORP | $23.4M | 1.02% | 310,000 | Common | SOLE |
| 253393102 | DKS | DICKS SPORTING GOODS INC | $23.2M | 1.01% | 104,428 | Common | SOLE |
| M2029K104 | BIRK | BIRKENSTOCK HOLDING PLC | $22.9M | 1.00% | 506,075 | Common | SOLE |
| 013872106 | AA | ALCOA CORP | $22.7M | 0.99% | 690,000 | Common | SOLE |
| 165167735 | EXE | EXPAND ENERGY CORPORATION | $22.5M | 0.99% | 212,249 | Common | SOLE |
| L44385109 | GLOB | GLOBANT S A | $21.9M | 0.96% | 381,956 | Common | SOLE |
| 37954Y830 | COPX | GLOBAL X FDS | $21.5M | 0.94% | 359,999 | Common | SOLE |
| 690742101 | OC | OWENS CORNING NEW | $20.4M | 0.89% | 144,000 | Common | SOLE |
| G3730V105 | FTAI | FTAI AVIATION LTD | $20.2M | 0.89% | 121,347 | Common | SOLE |
| 78464A698 | KRE | SPDR SERIES TRUST | $19.0M | 0.83% | 300,000 | PUT | SOLE |
| 922280102 | VRNS | VARONIS SYS INC | $18.4M | 0.80% | 319,751 | Common | SOLE |
| 26884L109 | EQT | EQT CORP | $18.1M | 0.79% | 333,013 | Common | SOLE |
| M98068105 | WIX | WIX COM LTD | $15.6M | 0.68% | 88,000 | Common | SOLE |
| 39525U107 | GFR | GREENFIRE RES LTD NEW | $15.1M | 0.66% | 3,271,730 | Common | SOLE |
| N00985106 | AER | AERCAP HOLDINGS NV | $14.6M | 0.64% | 121,043 | Common | SOLE |
| 878742204 | TECK | TECK RESOURCES LTD | $14.2M | 0.62% | 323,600 | Common | SOLE |
| 707569109 | PENN | PENN ENTERTAINMENT INC | $14.0M | 0.61% | 726,182 | Common | SOLE |
| 500767306 | KWEB | KRANESHARES TRUST | $13.6M | 0.59% | 323,100 | Common | SOLE |
| 90364P105 | PATH | UIPATH INC | $13.4M | 0.59% | 1,000,000 | CALL | SOLE |
| 49177J102 | KVUE | KENVUE INC | $13.3M | 0.58% | 820,760 | Common | SOLE |
| 459506101 | IFF | INTERNATIONAL FLAVORS&FRAGRA | $13.3M | 0.58% | 215,555 | Common | SOLE |
| 629377508 | NRG | NRG ENERGY INC | $13.0M | 0.57% | 80,000 | Common | SOLE |
| 665531307 | NOG | NORTHERN OIL & GAS INC | $12.8M | 0.56% | 517,641 | Common | SOLE |
| G21307106 | CINT | CI&T INC | $12.6M | 0.55% | 2,452,677 | Common | SOLE |
| 023939101 | AMTM | AMENTUM HOLDINGS INC | $12.2M | 0.54% | 511,477 | Common | SOLE |
| 72703H101 | PLNT | PLANET FITNESS INC | $11.9M | 0.52% | 115,061 | Common | SOLE |
| 382550101 | GT | GOODYEAR TIRE & RUBR CO | $11.7M | 0.51% | 1,568,436 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $11.4M | 0.50% | 22,056 | Common | SOLE |
| 13321L108 | CCJ | CAMECO CORP | $11.3M | 0.50% | 135,000 | Common | SOLE |
| G21810109 | CLVT | CLARIVATE PLC | $11.0M | 0.48% | 2,865,021 | Common | SOLE |
| 47233W109 | JEF | JEFFERIES FINL GROUP INC | $10.5M | 0.46% | 160,000 | Common | SOLE |
| 44812J104 | HUT | HUT 8 CORP | $10.4M | 0.46% | 300,000 | CALL | SOLE |
| 109641100 | EAT | BRINKER INTL INC | $10.1M | 0.44% | 80,000 | Common | SOLE |
| 880770102 | TER | TERADYNE INC | $10.0M | 0.44% | 72,895 | Common | SOLE |
| N4732M103 | JBS | JBS N.V. | $9.9M | 0.43% | 662,000 | Common | SOLE |
| 441593100 | HLI | HOULIHAN LOKEY INC | $9.9M | 0.43% | 48,000 | Common | SOLE |
| 44812J104 | HUT | HUT 8 CORP | $9.7M | 0.43% | 280,000 | Common | SOLE |
| 29970N104 | EVEX | EVE HLDG INC | $9.4M | 0.41% | 2,462,421 | Common | SOLE |
| 42824C109 | HPE | HEWLETT PACKARD ENTERPRISE C | $8.8M | 0.39% | 360,000 | Common | SOLE |
| H5919C104 | ONON | ON HLDG AG | $8.5M | 0.37% | 200,000 | Common | SOLE |
| 46434V423 | KSA | ISHARES TR | $8.1M | 0.35% | 200,000 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $7.8M | 0.34% | 35,420 | Common | SOLE |
| 94106B101 | WCN | WASTE CONNECTIONS INC | $7.3M | 0.32% | 41,630 | Common | SOLE |
| 231561101 | CW | CURTISS WRIGHT CORP | $6.5M | 0.28% | 12,000 | Common | SOLE |
| 644535106 | NGDN | NEW GOLD INC CDA | $6.3M | 0.28% | 880,000 | Common | SOLE |
| M7S64H106 | MNDY | MONDAY COM LTD | $6.3M | 0.28% | 32,520 | Common | SOLE |
| 29414B104 | EPAM | EPAM SYS INC | $6.2M | 0.27% | 41,300 | Common | SOLE |
| 15101Q207 | CLS | CELESTICA INC | $5.9M | 0.26% | 24,000 | Common | SOLE |
| 75281A109 | RRC | RANGE RES CORP | $5.8M | 0.26% | 154,967 | Common | SOLE |
| 03674X106 | AR | ANTERO RESOURCES CORP | $5.8M | 0.25% | 171,601 | Common | SOLE |
| 09260D107 | BX | BLACKSTONE INC | $5.7M | 0.25% | 33,430 | Common | SOLE |
| 771049103 | RBLX | ROBLOX CORP | $5.5M | 0.24% | 40,000 | Common | SOLE |
| 51817R205 | LTM | LATAM AIRLINES GROUP SA | $5.4M | 0.24% | 120,000 | Common | SOLE |
| 65473P105 | NI | NISOURCE INC | $5.2M | 0.23% | 120,000 | Common | SOLE |
| 450913108 | IAG | IAMGOLD CORP | $5.2M | 0.23% | 400,000 | Common | SOLE |
| 002896207 | ANF | ABERCROMBIE & FITCH CO | $5.1M | 0.22% | 60,000 | Common | SOLE |
| 008474108 | AEM | AGNICO EAGLE MINES LTD | $5.1M | 0.22% | 30,000 | Common | SOLE |
| G6683N103 | NU | NU HLDGS LTD | $4.8M | 0.21% | 300,000 | Common | SOLE |
| 35671D857 | FCX | FREEPORT-MCMORAN INC | $4.7M | 0.21% | 120,000 | Common | SOLE |
| 984245100 | YPF | YPF SOCIEDAD ANONIMA | $4.6M | 0.20% | 191,000 | Common | SOLE |
| 143658300 | CCL1EUR | CARNIVAL CORP | $4.6M | 0.20% | 160,000 | Common | SOLE |
| 382550101 | GT | GOODYEAR TIRE & RUBR CO | $4.5M | 0.20% | 600,000 | CALL | SOLE |
| G06973112 | AUGO | AURA MINERALS INC | $4.2M | 0.18% | 111,729 | Common | SOLE |
| 464286632 | EIS | ISHARES INC | $4.0M | 0.18% | 40,000 | Common | SOLE |
| 012653101 | ALB | ALBEMARLE CORP | $3.8M | 0.17% | 46,930 | Common | SOLE |
| G85158106 | STNE | STONECO LTD | $3.8M | 0.17% | 200,000 | Common | SOLE |
| 298736109 | EEFT | EURONET WORLDWIDE INC | $3.8M | 0.16% | 42,744 | Common | SOLE |
| 06849F108 | B | BARRICK MNG CORP | $3.3M | 0.14% | 100,000 | Common | SOLE |
| 01626W101 | ALIT | ALIGHT INC | $3.2M | 0.14% | 981,000 | CALL | SOLE |
| 26856L103 | ELF | E L F BEAUTY INC | $3.2M | 0.14% | 24,000 | Common | SOLE |
| G9470A102 | VTEX | VTEX | $3.1M | 0.13% | 700,757 | Common | SOLE |
| 146869102 | CVNA | CARVANA CO | $3.0M | 0.13% | 8,000 | Common | SOLE |
| 156431108 | CENX | CENTURY ALUM CO | $2.9M | 0.13% | 100,000 | Common | SOLE |
| G0260P102 | AS | AMER SPORTS INC | $2.8M | 0.12% | 80,000 | Common | SOLE |
| 824348106 | SHW | SHERWIN WILLIAMS CO | $2.7M | 0.12% | 7,814 | Common | SOLE |
| H8088L103 | SRAD | SPORTRADAR GROUP AG | $2.7M | 0.12% | 100,002 | Common | SOLE |
| 037833100 | AAPL | APPLE INC | $2.0M | 0.09% | 7,966 | Common | SOLE |
| 92826C839 | V | VISA INC | $2.0M | 0.09% | 5,786 | Common | SOLE |
| 04040Y109 | ARIS | ARIS MNG CORP | $2.0M | 0.09% | 200,000 | PUT | SOLE |
| 26875P101 | EOG | EOG RES INC | $1.7M | 0.08% | 15,488 | Common | SOLE |
| 127097103 | CTRA | COTERRA ENERGY INC | $1.7M | 0.07% | 71,014 | Common | SOLE |
| 88033G407 | THC | TENET HEALTHCARE CORP | $1.6M | 0.07% | 8,000 | CALL | SOLE |
| 87305R109 | TTMI | TTM TECHNOLOGIES INC | $1.4M | 0.06% | 24,000 | Common | SOLE |
| G11448100 | BTDR | BITDEER TECHNOLOGIES GROUP | $1.4M | 0.06% | 80,001 | Common | SOLE |
| 916896103 | UEC | URANIUM ENERGY CORP | $1.3M | 0.06% | 100,000 | PUT | SOLE |
| 13765N107 | CNNE | CANNAE HLDGS INC | $1.3M | 0.06% | 71,015 | Common | SOLE |
| 12653C108 | CNX | CNX RES CORP | $1.2M | 0.05% | 38,789 | Common | SOLE |
| 205768302 | CRK | COMSTOCK RES INC | $1.1M | 0.05% | 57,682 | Common | SOLE |
| 683712103 | OPEN | OPENDOOR TECHNOLOGIES INC | $983,498 | 0.04% | 123,400 | Common | SOLE |
| 826599102 | SGML | SIGMA LITHIUM CORPORATION | $930,732 | 0.04% | 145,200 | CALL | SOLE |
| 88160R101 | TSLA | TESLA INC | $840,521 | 0.04% | 1,890 | Common | SOLE |
| 217204106 | CPRT | COPART INC | $838,915 | 0.04% | 18,655 | Common | SOLE |
| 548661107 | LOW | LOWES COS INC | $807,962 | 0.04% | 3,215 | Common | SOLE |
| 402635502 | GPOR | GULFPORT ENERGY CORP | $780,205 | 0.03% | 4,311 | Common | SOLE |
| 88025T102 | TENB | TENABLE HLDGS INC | $642,891 | 0.03% | 22,047 | Common | SOLE |
| 826599102 | SGML | SIGMA LITHIUM CORPORATION | $641,000 | 0.03% | 100,000 | PUT | 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.