BW Gestao de Investimentos Ltda. Q3 2025 Filing

Filed November 13, 2025

Portfolio Value

$2.3T

Holdings

109

Report Date

Q3 2025

Filing Type

13F-HR

All Holdings (109 positions)

#StockSharesValue% PortfolioType
1
IWMISHARES TR
1,100,000$266.2B11.64%Put
2
TSLATESLA INC
481,890$214.3B9.37%Put
3
SPYSPDR S&P 500 ETF TR
200,000$133.2B5.83%Put
4
IVVISHARES TR
155,000$103.7B4.54%
5
THCTENET HEALTHCARE CORP
425,995$86.5B3.78%Call
6
ARKKARK ETF TR
1,000,000$86.3B3.77%Put
7
RBARB GLOBAL INC
685,556$74.3B3.25%
8
XLVSELECT SECTOR SPDR TR
531,000$73.9B3.23%Put
9
PATHUIPATH INC
4,712,150$63.0B2.76%Call
10
XRTSPDR SERIES TRUST
600,000$51.7B2.26%Put
11
FOURSHIFT4 PMTS INC
632,838$49.0B2.14%
12
PCGPG&E CORP
2,800,000$42.2B1.85%Call
13
NTNXNUTANIX INC
556,654$41.4B1.81%
14
KVUEKENVUE INC
2,420,760$39.3B1.72%Call
15
PRGOPERRIGO CO PLC
1,582,119$35.2B1.54%
16
ALITALIGHT INC
10,050,880$32.8B1.43%Call
17
ECLECOLAB INC
117,824$32.3B1.41%
18
ITBISHARES TR
300,000$32.2B1.41%Put
19
EIXEDISON INTL
468,000$25.9B1.13%Call
20
EWZISHARES INC
832,800$25.8B1.13%
21
CPRICAPRI HOLDINGS LIMITED
1,267,373$25.2B1.10%
22
CVSCVS HEALTH CORP
310,000$23.4B1.02%
23
DKSDICKS SPORTING GOODS INC
104,428$23.2B1.01%
24
BIRKBIRKENSTOCK HOLDING PLC
506,075$22.9B1.00%
25
AAALCOA CORP
690,000$22.7B0.99%
26
EXEEXPAND ENERGY CORPORATION
212,249$22.5B0.99%
27
GLOBGLOBANT S A
381,956$21.9B0.96%
28
COPXGLOBAL X FDS
359,999$21.5B0.94%
29
OCOWENS CORNING NEW
144,000$20.4B0.89%
30
FTAIFTAI AVIATION LTD
121,347$20.2B0.89%
31
HUTHUT 8 CORP
580,000$20.2B0.88%Call
32
LVLNSPDR SERIES TRUST
300,000$19.0B0.83%Put
33
VRNSVARONIS SYS INC
319,751$18.4B0.80%
34
EQTEQT CORP
333,013$18.1B0.79%
35
GTGOODYEAR TIRE & RUBR CO
2,168,436$16.2B0.71%Call
36
WIXWIX COM LTD
88,000$15.6B0.68%
37
GFRGREENFIRE RES LTD NEW
3,271,730$15.1B0.66%
38
AERAERCAP HOLDINGS NV
121,043$14.6B0.64%
39
TECK/BTECK RESOURCES LTD
323,600$14.2B0.62%
40
PENNPENN ENTERTAINMENT INC
726,182$14.0B0.61%
41
KWEBKRANESHARES TRUST
323,100$13.6B0.59%
42
IFFINTERNATIONAL FLAVORS&FRAGRA
215,555$13.3B0.58%
43
NRANRG ENERGY INC
80,000$13.0B0.57%
44
NOGNORTHERN OIL & GAS INC
517,641$12.8B0.56%
45
CINTCI&T INC
2,452,677$12.6B0.55%
46
AMTMAMENTUM HOLDINGS INC
511,477$12.2B0.54%
47
PLNTPLANET FITNESS INC
115,061$11.9B0.52%
48
MSFTMICROSOFT CORP
22,056$11.4B0.50%
49
CCOCAMECO CORP
135,000$11.3B0.50%
50
CLVTCLARIVATE PLC
2,865,021$11.0B0.48%
51
JEFJEFFERIES FINL GROUP INC
160,000$10.5B0.46%
52
EATBRINKER INTL INC
80,000$10.1B0.44%
53
TERTERADYNE INC
72,895$10.0B0.44%
54
JBSJBS N.V.
662,000$9.9B0.43%
55
HLIHOULIHAN LOKEY INC
48,000$9.9B0.43%
56
EVEXEVE HLDG INC
2,462,421$9.4B0.41%
57
HPEHEWLETT PACKARD ENTERPRISE C
360,000$8.8B0.39%
58
ONONON HLDG AG
200,000$8.5B0.37%
59
KSAISHARES TR
200,000$8.1B0.35%
60
AMZNAMAZON COM INC
35,420$7.8B0.34%
61
WCNWASTE CONNECTIONS INC
41,630$7.3B0.32%
62
CWCURTISS WRIGHT CORP
12,000$6.5B0.28%
63
NGDNEW GOLD INC CDA
880,000$6.3B0.28%
64
MNDYMONDAY COM LTD
32,520$6.3B0.28%
65
EPAMEPAM SYS INC
41,300$6.2B0.27%
66
CLSCELESTICA INC
24,000$5.9B0.26%
67
RRCRANGE RES CORP
154,967$5.8B0.26%
68
ARANTERO RESOURCES CORP
171,601$5.8B0.25%
69
BXBLACKSTONE INC
33,430$5.7B0.25%
70
RBLXROBLOX CORP
40,000$5.5B0.24%
71
LTMLATAM AIRLINES GROUP SA
120,000$5.4B0.24%
72
NINISOURCE INC
120,000$5.2B0.23%
73
IMGIAMGOLD CORP
400,000$5.2B0.23%
74
ANFABERCROMBIE & FITCH CO
60,000$5.1B0.22%
75
AEMAGNICO EAGLE MINES LTD
30,000$5.1B0.22%
76
NUNU HLDGS LTD
300,000$4.8B0.21%
77
FCXFREEPORT-MCMORAN INC
120,000$4.7B0.21%
78
YPFYPF SOCIEDAD ANONIMA
191,000$4.6B0.20%
79
CCLCARNIVAL CORP
160,000$4.6B0.20%
80
AUGOAURA MINERALS INC
111,729$4.2B0.18%
81
EIS*ISHARES INC
40,000$4.0B0.18%
82
ALBALBEMARLE CORP
46,930$3.8B0.17%
83
STNESTONECO LTD
200,000$3.8B0.17%
84
EEFTEURONET WORLDWIDE INC
42,744$3.8B0.16%
85
BBARRICK MNG CORP
100,000$3.3B0.14%
86
ELFE L F BEAUTY INC
24,000$3.2B0.14%
87
VTEXVTEX
700,757$3.1B0.13%
88
CVNACARVANA CO
8,000$3.0B0.13%
89
CENXCENTURY ALUM CO
100,000$2.9B0.13%
90
ASAMER SPORTS INC
80,000$2.8B0.12%
91
SHWSHERWIN WILLIAMS CO
7,814$2.7B0.12%
92
SRADSPORTRADAR GROUP AG
100,002$2.7B0.12%
93
AAPLAPPLE INC
7,966$2.0B0.09%
94
VVISA INC
5,786$2.0B0.09%
95
ARISARIS MNG CORP
200,000$2.0B0.09%Put
96
EOGEOG RES INC
15,488$1.7B0.08%
97
CTRACOTERRA ENERGY INC
71,014$1.7B0.07%
98
SGMLSIGMA LITHIUM CORPORATION
245,200$1.6B0.07%Put
99
TTMITTM TECHNOLOGIES INC
24,000$1.4B0.06%
100
BTDRBITDEER TECHNOLOGIES GROUP
80,001$1.4B0.06%
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