BW Gestao de Investimentos Ltda.

Q4 2025 13F-HR Holdings

Location
Sao Paulo, D5
Holdings as of
12/31/2025
Date filed
2/10/2026
Form type
13F-HR
Num holdings
205
Total value ($000)
$4,431,884
Net value change ($000)
+2,144,880 (93.8%)
New positions
120
Sold out positions
32
Turnover %
56.4%
Sector allocation + QoQ delta (equities-only)

Holdings aggregated across other managers listed in the original SEC filing. View detailed breakdown

Prev filing: 11/13/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
IVV 402,320 387.8%
RSP 287,168 NEW
XLU 49,094 NEW
MU 39,901 NEW
SATS 28,248 NEW
COF 26,079 NEW
TLN 21,770 NEW
LIN 20,467 NEW
AEP 19,587 NEW
SQM 19,488 NEW
Top Reduces (Value $000, Stocks/ETFs)
COPX -21,532 -100.0%
EWZ -20,594 -79.8%
OC -20,370 -100.0%
AA -18,578 -81.9%
PRGO -17,457 -49.5%
GFR -15,115 -100.0%
TECK -14,203 -100.0%
ALIT -13,853 -46.9%
THC -13,841 -16.3%
KWEB -13,573 -100.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 1,594,553 (36.0% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type