Funds › BW Gestao de Investimentos Ltda.
BW Gestao de Investimentos Ltda.
13F for Q3 2026, filed Nov 12, 2026. 354 positions worth $4.1B.Managers with more than $100 million in US-listed stocks list their holdings each quarter, within 45 days of quarter end. Long positions only: no short sales or cash.
Latest report
Q3 2026
filed Nov 12, 2026
Reported value
$4.1B
−$959.9M (19.0%) vs Q2 2026
Positions
354
294 in Q2 2026
Top 10 share
20.6%
of reported value
CheckedEach line's price per share is checked against other managers' reports of the same stock. Unit mix-ups are corrected. Reports no fix can rescue are left out.
Clean
prices match other managers' reports
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Holdings, Q3 2026
Largest first. Common shares only; puts and calls are under All positions.
| # | The fund's own figures at the end of the quarter. A report can be up to 45 days old when it is filed. Options and bonds are not counted here. | Filing | ||||
|---|---|---|---|---|---|---|
| 1 | iShares Tr Core S&P500 Etf | 596,357 | $456.7M | 11.2% | -45.5% | 13F ↗ |
| 2 | MSFT Microsoft Corporation | 141,373 | $72.5M | 1.8% | +21.9% | 13F ↗ |
| 3 | SPCX Space Exploration Technologies Corp. | 440,151 | $66.4M | 1.6% | -25.1% | 13F ↗ |
| 4 | RBA RB Global, Inc. | 651,974 | $53.1M | 1.3% | +31.7% | 13F ↗ |
| 5 | GOOG Alphabet Inc. Class C | 117,000 | $39.9M | 1.0% | +30.0% | 13F ↗ |
| 6 | Select Sector Spdr Tr St Str Util Etf | 884,300 | $34.9M | 0.9% | +293% | 13F ↗ |
| 7 | ASML ASML Holding N.V. · Equities | 17,749 | $32.2M | 0.8% | +18.3% | 13F ↗ |
| 8 | ECL Ecolab Inc. | 110,915 | $30.5M | 0.7% | -23.4% | 13F ↗ |
| 9 | LLY Eli Lilly and Company | 25,821 | $29.9M | 0.7% | +2546% | 13F ↗ |
| 10 | TLN Talen Energy Corporation | 88,153 | $27.6M | 0.7% | New | 13F ↗ |
| 11 | META Meta Platforms, Inc. | 37,780 | $27.4M | 0.7% | New | 13F ↗ |
| 12 | AEE Ameren Corporation | 269,919 | $26.8M | 0.7% | +202% | 13F ↗ |
| 13 | GOOGL Alphabet Inc. Class A | 77,900 | $26.8M | 0.7% | +462% | 13F ↗ |
| 14 | XEL Xcel Energy Inc. | 371,467 | $26.2M | 0.6% | +44.9% | 13F ↗ |
| 15 | INTC Intel Corporation | 208,661 | $25.1M | 0.6% | +1505% | 13F ↗ |
| 16 | AMZN Amazon.com, Inc. | 98,606 | $24.6M | 0.6% | -32.6% | 13F ↗ |
| 17 | BX Blackstone Inc. | 216,100 | $24.2M | 0.6% | Unchanged | 13F ↗ |
| 18 | PPL PPL Corporation | 728,487 | $24.0M | 0.6% | +95.8% | 13F ↗ |
| 19 | SO Southern Company | 287,615 | $23.8M | 0.6% | +48.5% | 13F ↗ |
| 20 | THC Tenet Healthcare Corporation | 85,512 | $21.9M | 0.5% | -69.4% | 13F ↗ |
| 21 | ORCL Oracle Corporation | 158,177 | $21.7M | 0.5% | +1227% | 13F ↗ |
| 22 | CLVT Clarivate Plc | 12.67M | $21.2M | 0.5% | +26.2% | 13F ↗ |
| 23 | FCX Freeport-McMoRan, Inc. | 297,703 | $20.8M | 0.5% | +263% | 13F ↗ |
| 24 | BKH Black Hills Corporation | 292,210 | $20.5M | 0.5% | +35.7% | 13F ↗ |
| 25 | SKHY SK hynix Inc. · American Deposit | 104,000 | $19.2M | 0.5% | New | 13F ↗ |
| 26 | CNP CenterPoint Energy, Inc | 514,378 | $18.9M | 0.5% | +33.8% | 13F ↗ |
| 27 | ED Consolidated Edison, Inc. | 182,222 | $18.6M | 0.5% | +7.1% | 13F ↗ |
| 28 | IDA IDACORP, Inc. | 140,733 | $18.4M | 0.4% | +47.2% | 13F ↗ |
| 29 | CB Chubb Limited | 56,423 | $18.4M | 0.4% | +4823% | 13F ↗ |
| 30 | GIL Gildan Activewear, Inc. | 391,895 | $16.7M | 0.4% | +51.6% | 13F ↗ |
| 31 | CCJ Cameco Corporation | 189,713 | $16.4M | 0.4% | +180% | 13F ↗ |
| 32 | SHW Sherwin-Williams Company | 49,859 | $16.1M | 0.4% | -27.3% | 13F ↗ |
| 33 | FNV Franco-Nevada Corporation | 67,491 | $16.1M | 0.4% | New | 13F ↗ |
| 34 | UNP Union Pacific Corporation | 58,800 | $16.0M | 0.4% | +51.5% | 13F ↗ |
| 35 | DHR Danaher Corporation | 71,999 | $16.0M | 0.4% | New | 13F ↗ |
| 36 | NVDA NVIDIA Corporation | 68,227 | $15.6M | 0.4% | +204% | 13F ↗ |
| 37 | MRSH Marsh & McLennan Companies, Inc. | 90,861 | $15.5M | 0.4% | New | 13F ↗ |
| 38 | CENX Century Aluminum Company | 426,789 | $15.4M | 0.4% | -18.4% | 13F ↗ |
| 39 | WFC Wells Fargo & Company | 191,475 | $15.3M | 0.4% | +12.5% | 13F ↗ |
| 40 | NOW ServiceNow, Inc. | 114,248 | $15.3M | 0.4% | +5.2% | 13F ↗ |
| 41 | DOCN DigitalOcean Holdings, Inc. | 113,852 | $15.2M | 0.4% | +79.6% | 13F ↗ |
| 42 | HIG The Hartford Insurance Group, Inc. | 123,874 | $15.2M | 0.4% | New | 13F ↗ |
| 43 | NI NiSource Inc | 386,136 | $15.1M | 0.4% | New | 13F ↗ |
| 44 | WMB Williams Companies, Inc. | 221,536 | $15.1M | 0.4% | Unchanged | 13F ↗ |
| 45 | RXT Rackspace Technology, Inc. | 4.00M | $14.9M | 0.4% | +71.0% | 13F ↗ |
| 46 | UGI UGI Corporation | 417,107 | $14.9M | 0.4% | +43.9% | 13F ↗ |
| 47 | PGR Progressive Corporation | 69,364 | $14.4M | 0.4% | New | 13F ↗ |
| 48 | RGLD Royal Gold, Inc. | 60,760 | $14.3M | 0.4% | New | 13F ↗ |
| 49 | CRDO Credo Technology Group Holding Ltd | 72,740 | $14.2M | 0.3% | +1218% | 13F ↗ |
| 50 | AMD Advanced Micro Devices, Inc. | 23,031 | $14.1M | 0.3% | -25.8% | 13F ↗ |
Showing the top 50 of 354 positions. Premium lists every position, plus puts and calls.
Changes since Q2 2026
169 new, 91 added to, 74 trimmed, 109 exited, 20 unchanged. By estimated dollars.
New positions (169)
| TLN Talen Energy Corporation | 88,153 | New | $27.6M |
| META Meta Platforms, Inc. | 37,780 | New | $27.4M |
| SKHY SK hynix Inc. · American Deposit | 104,000 | New | $19.2M |
| FNV Franco-Nevada Corporation | 67,491 | New | $16.1M |
| DHR Danaher Corporation | 71,999 | New | $16.0M |
| MRSH Marsh & McLennan Companies, Inc. | 90,861 | New | $15.5M |
| HIG The Hartford Insurance Group, Inc. | 123,874 | New | $15.2M |
| NI NiSource Inc | 386,136 | New | $15.1M |
| PGR Progressive Corporation | 69,364 | New | $14.4M |
| RGLD Royal Gold, Inc. | 60,760 | New | $14.3M |
Added to (91)
| LLY Eli Lilly and Company | 25,821 | +2546% | $28.7M |
| Select Sector Spdr Tr St Str Util Etf | 884,300 | +293% | $26.0M |
| INTC Intel Corporation | 208,661 | +1505% | $23.5M |
| GOOGL Alphabet Inc. Class A | 77,900 | +462% | $22.0M |
| ORCL Oracle Corporation | 158,177 | +1227% | $20.1M |
| CB Chubb Limited | 56,423 | +4823% | $18.0M |
| AEE Ameren Corporation | 269,919 | +202% | $17.9M |
| FCX Freeport-McMoRan, Inc. | 297,703 | +263% | $15.1M |
| CRDO Credo Technology Group Holding Ltd | 72,740 | +1218% | $13.1M |
| MSFT Microsoft Corporation | 141,373 | +21.9% | $13.0M |
Trimmed (74)
| SPY State Street SPDR S&P 500 ETF Trust · Trust units | 3,296 | -99.7% | -$933.8M |
| iShares Tr Core S&P500 Etf | 596,357 | -45.5% | -$380.6M |
| THC Tenet Healthcare Corporation | 85,512 | -69.4% | -$49.7M |
| SPCX Space Exploration Technologies Corp. | 440,151 | -25.1% | -$22.2M |
| SN SharkNinja, Inc. | 5,356 | -94.5% | -$16.4M |
| AEP American Electric Power Company, Inc. | 2,743 | -97.9% | -$14.9M |
| PH Parker-Hannifin Corporation | 8,742 | -63.6% | -$14.6M |
| MOS Mosaic Company | 232,606 | -73.4% | -$13.9M |
| AAPL Apple Inc. | 39,519 | -49.0% | -$12.6M |
| DDOG Datadog, Inc. | 17,394 | -71.4% | -$11.9M |
Exited (109)
| MU Micron Technology, Inc. | 39,210 | Exited | -$45.3M |
| Global X Fds Global X Copper | 453,150 | Exited | -$34.9M |
| ECHO EchoStar Corporation | 320,727 | Exited | -$32.6M |
| Select Sector Spdr Tr St Str Care Etf | 201,000 | Exited | -$31.9M |
| GNRC Generac Holdlings Inc. | 82,814 | Exited | -$24.2M |
| NTNX Nutanix, Inc. | 450,526 | Exited | -$23.0M |
| Global X Fds Lithium Btry Etf | 258,000 | Exited | -$20.2M |
| iShares Tr Msci Emg Mkt Etf | 238,968 | Exited | -$16.3M |
| USB U.S. Bancorp | 256,730 | Exited | -$15.5M |
| ETR Entergy Corporation | 132,738 | Exited | -$15.2M |
The 10 largest of each, by estimated dollars: shares changed times the later report's price. Index tracking, splits and mergers move positions too.
All positions
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Reported value by quarter
Value and number of positions at the end of each quarter.
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Largest positions in earlier quarters
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Ten largest positions
By value, Q3 2026.
Filings
| Filing | ||||||
|---|---|---|---|---|---|---|
| Q3 2026 | Nov 12, 2026 | 13F-HR | 375 | $4.1B | Current | SEC ↗ |
| Q2 2026 | Aug 14, 2026 | 13F-HR | 307 | $5.1B | Current | SEC ↗ |
| Q1 2026 | Apr 28, 2026 | 13F-HR | 270 | $3.0B | Current | SEC ↗ |
| Q4 2025 | Feb 10, 2026 | 13F-HR | 205 | $4.4B | Current | SEC ↗ |
| Q3 2025 | Nov 13, 2025 | 13F-HR | 118 | $2.3B | Current | SEC ↗ |
| Q2 2025 | Aug 14, 2025 | 13F-HR | 106 | $2.4B | Current | SEC ↗ |
| Q1 2025 | May 15, 2025 | 13F-HR | 103 | $3.2B | Current | SEC ↗ |
Most recent first, up to 80. An amendment can replace a report or add holdings to it. All 13F filings
Information, not investment advice. Values are the fund's own figures at quarter end; a report can be up to 45 days old when filed. Disclaimer