BW Gestao de Investimentos Ltda.
Comparing Q4 2025 vs Q3 2025
Sorting applies to all holdings for this quarter on the server, then the page is sliced. Prior-quarter values come from the full prior-quarter filing.
Issuer ▲▼ | Shares | Value ($K) | ||||
|---|---|---|---|---|---|---|
Q3 2025 ▲▼ | Q4 2025 ▲▼ | Change ▲▼ | Q3 2025 ▲▼ | Q4 2025 ▲▼ | Change ▲▼ | |
| ISHARES TR | 0 | 738,842 | +738,842 | 0 | 506,062,439 | +506,062,439 |
| SPDR S&P 500 ETF TR(Put) | 0 | 750,000 | +750,000 | 0 | 511,440,000 | +511,440,000 |
| INVESCO EXCHANGE TRADED FD T | 0 | 1,499,100 | +1,499,100 | 0 | 287,167,596 | +287,167,596 |
| INVESCO QQQ TR(Put) | 0 | 300,000 | +300,000 | 0 | 184,293,000 | +184,293,000 |
| INVESCO QQQ TR(Call) | 0 | 150,000 | +150,000 | 0 | 92,146,500 | +92,146,500 |
| MICRON TECHNOLOGY INC(Call) | 0 | 300,000 | +300,000 | 0 | 85,623,000 | +85,623,000 |
| KRANESHARES TRUST(Call) | 0 | 2,400,000 | +2,400,000 | 0 | 81,720,000 | +81,720,000 |
| ISHARES TR(Call) | 0 | 300,000 | +300,000 | 0 | 73,848,000 | +73,848,000 |
| BROADCOM INC(Call) | 0 | 200,000 | +200,000 | 0 | 69,220,000 | +69,220,000 |
| ISHARES TR(Put) | 0 | 1,300,000 | +1,300,000 | 0 | 320,008,000 | +320,008,000 |
| SELECT SECTOR SPDR TR | 0 | 1,150,000 | +1,150,000 | 0 | 49,093,500 | +49,093,500 |
| SELECT SECTOR SPDR TR | 0 | 266,000 | +266,000 | 0 | 41,176,800 | +41,176,800 |
| MICRON TECHNOLOGY INC | 0 | 139,803 | +139,803 | 0 | 39,901,174 | +39,901,174 |
| SPDR S&P 500 ETF TR(Call) | 0 | 50,000 | +50,000 | 0 | 34,096,000 | +34,096,000 |
| ECHOSTAR CORP | 0 | 259,871 | +259,871 | 0 | 28,247,978 | +28,247,978 |
| CAPITAL ONE FINL CORP | 0 | 107,606 | +107,606 | 0 | 26,079,390 | +26,079,390 |
| SPDR SERIES TRUST(Put) | 0 | 300,000 | +300,000 | 0 | 25,587,000 | +25,587,000 |
| TALEN ENERGY CORP | 0 | 58,077 | +58,077 | 0 | 21,769,583 | +21,769,583 |
| LINDE PLC | 0 | 48,000 | +48,000 | 0 | 20,466,720 | +20,466,720 |
| AMERICAN ELEC PWR CO INC | 0 | 169,861 | +169,861 | 0 | 19,586,672 | +19,586,672 |
| SOCIEDAD QUIMICA Y MINERA DE | 0 | 283,254 | +283,254 | 0 | 19,487,875 | +19,487,875 |
| SPDR SERIES TRUST(Put) | 0 | 300,000 | +300,000 | 0 | 19,443,000 | +19,443,000 |
| JPMORGAN CHASE & CO. | 0 | 56,117 | +56,117 | 0 | 18,082,020 | +18,082,020 |
| CONSOLIDATED EDISON INC | 0 | 181,065 | +181,065 | 0 | 17,983,376 | +17,983,376 |
| XCEL ENERGY INC | 0 | 242,457 | +242,457 | 0 | 17,907,874 | +17,907,874 |
| BANK AMERICA CORP | 0 | 324,823 | +324,823 | 0 | 17,865,265 | +17,865,265 |
| HUNTINGTON BANCSHARES INC | 0 | 1,020,000 | +1,020,000 | 0 | 17,697,000 | +17,697,000 |
| BLACKSTONE INC | 0 | 148,776 | +148,776 | 0 | 22,932,333 | +22,932,333 |
| SEMPRA | 0 | 188,347 | +188,347 | 0 | 16,629,157 | +16,629,157 |
| UIPATH INC(Put) | 0 | 1,000,000 | +1,000,000 | 0 | 16,390,000 | +16,390,000 |
| EVERGY INC | 0 | 220,173 | +220,173 | 0 | 15,960,341 | +15,960,341 |
| SHERWIN WILLIAMS CO | 0 | 55,214 | +55,214 | 0 | 17,890,992 | +17,890,992 |
| FIRSTENERGY CORP | 0 | 338,898 | +338,898 | 0 | 15,172,463 | +15,172,463 |
| UGI CORP NEW | 0 | 401,594 | +401,594 | 0 | 15,031,663 | +15,031,663 |
| ALBEMARLE CORP | 0 | 132,250 | +132,250 | 0 | 18,705,440 | +18,705,440 |
| PG&E CORP | 0 | 925,788 | +925,788 | 0 | 14,877,413 | +14,877,413 |
| SOLSTICE ADVANCED MATLS INC | 0 | 305,507 | +305,507 | 0 | 14,841,530 | +14,841,530 |
| WARNER BROS DISCOVERY INC(Call) | 0 | 500,000 | +500,000 | 0 | 14,410,000 | +14,410,000 |
| SOUTHWEST GAS HLDGS INC | 0 | 174,847 | +174,847 | 0 | 13,991,257 | +13,991,257 |
| NEXTPOWER INC | 0 | 155,895 | +155,895 | 0 | 13,580,013 | +13,580,013 |
| SABLE OFFSHORE CORP | 0 | 1,467,222 | +1,467,222 | 0 | 13,234,342 | +13,234,342 |
| ENTERGY CORP NEW | 0 | 142,048 | +142,048 | 0 | 13,129,497 | +13,129,497 |
| LUMENTUM HLDGS INC | 0 | 35,076 | +35,076 | 0 | 12,928,663 | +12,928,663 |
| FLAGSTAR BANK NATIONAL ASSOC | 0 | 1,000,000 | +1,000,000 | 0 | 12,590,000 | +12,590,000 |
| AFFILIATED MANAGERS GROUP IN | 0 | 42,000 | +42,000 | 0 | 12,107,760 | +12,107,760 |
| PROSPERITY BANCSHARES INC | 0 | 174,867 | +174,867 | 0 | 12,085,058 | +12,085,058 |
| PARKER-HANNIFIN CORP | 0 | 13,709 | +13,709 | 0 | 12,049,663 | +12,049,663 |
| INTERCONTINENTAL EXCHANGE IN | 0 | 74,067 | +74,067 | 0 | 11,995,891 | +11,995,891 |
| WARNER BROS DISCOVERY INC | 0 | 415,928 | +415,928 | 0 | 11,987,045 | +11,987,045 |
| WEBSTER FINL CORP | 0 | 190,021 | +190,021 | 0 | 11,959,922 | +11,959,922 |
| NRG ENERGY INC | 0 | 155,895 | +155,895 | 0 | 24,824,720 | +24,824,720 |
| PENNYMAC FINL SVCS INC NEW | 0 | 90,000 | +90,000 | 0 | 11,865,600 | +11,865,600 |
| US BANCORP DEL | 0 | 221,316 | +221,316 | 0 | 11,809,422 | +11,809,422 |
| SOUTHSTATE BK CORP | 0 | 125,005 | +125,005 | 0 | 11,764,221 | +11,764,221 |
| KKR & CO INC | 0 | 92,003 | +92,003 | 0 | 11,728,542 | +11,728,542 |
| INVESCO EXCH TRADED FD TR II | 0 | 233,843 | +233,843 | 0 | 11,486,368 | +11,486,368 |
| IDACORP INC | 0 | 90,740 | +90,740 | 0 | 11,484,054 | +11,484,054 |
| GLOBAL X FDS | 0 | 268,100 | +268,100 | 0 | 11,455,913 | +11,455,913 |
| SHARKNINJA INC | 0 | 97,472 | +97,472 | 0 | 10,907,117 | +10,907,117 |
| PINNACLE FINL PARTNERS INC | 0 | 110,000 | +110,000 | 0 | 10,495,100 | +10,495,100 |
| TIMKEN CO | 0 | 124,730 | +124,730 | 0 | 10,493,535 | +10,493,535 |
| SKEENA RES LTD NEW | 0 | 438,147 | +438,147 | 0 | 10,397,228 | +10,397,228 |
| CONSTELLIUM SE | 0 | 546,270 | +546,270 | 0 | 10,297,190 | +10,297,190 |
| BARRICK MNG CORP | 0 | 305,959 | +305,959 | 0 | 13,324,514 | +13,324,514 |
| C H ROBINSON WORLDWIDE INC | 0 | 62,358 | +62,358 | 0 | 10,024,672 | +10,024,672 |
| RELIANCE INC | 0 | 34,666 | +34,666 | 0 | 10,013,967 | +10,013,967 |
| CAMECO CORP | 0 | 232,949 | +232,949 | 0 | 21,312,504 | +21,312,504 |
| COLUMBIA BKG SYS INC | 0 | 350,000 | +350,000 | 0 | 9,782,500 | +9,782,500 |
| AMERICAN AIRLS GROUP INC | 0 | 605,000 | +605,000 | 0 | 9,274,650 | +9,274,650 |
| SOUTHWEST AIRLS CO | 0 | 223,583 | +223,583 | 0 | 9,240,685 | +9,240,685 |
| SIGMA LITHIUM CORPORATION(Call) | 0 | 764,400 | +764,400 | 0 | 10,082,436 | +10,082,436 |
| CITIGROUP INC | 0 | 78,337 | +78,337 | 0 | 9,141,145 | +9,141,145 |
| ARCELORMITTAL SA LUXEMBOURG | 0 | 200,000 | +200,000 | 0 | 9,114,000 | +9,114,000 |
| CORE NATURAL RESOURCES INC | 0 | 102,473 | +102,473 | 0 | 9,069,885 | +9,069,885 |
| MARKETAXESS HLDGS INC | 0 | 49,500 | +49,500 | 0 | 8,971,875 | +8,971,875 |
| CELSIUS HLDGS INC | 0 | 194,869 | +194,869 | 0 | 8,913,308 | +8,913,308 |
| CLEVELAND-CLIFFS INC NEW(Call) | 0 | 649,300 | +649,300 | 0 | 8,622,704 | +8,622,704 |
| DELTA AIR LINES INC DEL | 0 | 123,000 | +123,000 | 0 | 8,536,200 | +8,536,200 |
| UNITED AIRLS HLDGS INC | 0 | 75,000 | +75,000 | 0 | 8,386,500 | +8,386,500 |
| MORGAN STANLEY | 0 | 46,945 | +46,945 | 0 | 8,334,146 | +8,334,146 |
| CENTERPOINT ENERGY INC | 0 | 213,988 | +213,988 | 0 | 8,204,300 | +8,204,300 |
| PAN AMERN SILVER CORP | 0 | 155,980 | +155,980 | 0 | 8,081,324 | +8,081,324 |
| BANKUNITED INC | 0 | 175,000 | +175,000 | 0 | 7,799,750 | +7,799,750 |
| CLEVELAND-CLIFFS INC NEW | 0 | 582,624 | +582,624 | 0 | 7,737,247 | +7,737,247 |
| SPDR SERIES TRUST | 0 | 116,921 | +116,921 | 0 | 7,577,650 | +7,577,650 |
| PARAMOUNT SKYDANCE CORP | 0 | 564,914 | +564,914 | 0 | 7,569,848 | +7,569,848 |
| BANCORP INC DEL | 0 | 110,000 | +110,000 | 0 | 7,427,200 | +7,427,200 |
| ATLANTIC UN BANKSHARES CORP | 0 | 210,000 | +210,000 | 0 | 7,413,000 | +7,413,000 |
| CRH PLC | 0 | 58,882 | +58,882 | 0 | 7,348,474 | +7,348,474 |
| EVERCORE INC | 0 | 21,512 | +21,512 | 0 | 7,319,458 | +7,319,458 |
| AMRIZE LTD | 0 | 131,457 | +131,457 | 0 | 7,109,195 | +7,109,195 |
| APPLE INC | 0 | 33,466 | +33,466 | 0 | 9,098,067 | +9,098,067 |
| BROADCOM INC | 0 | 20,000 | +20,000 | 0 | 6,922,000 | +6,922,000 |
| CARVANA CO | 0 | 23,359 | +23,359 | 0 | 9,857,965 | +9,857,965 |
| ARK ETF TR | 0 | 87,577 | +87,577 | 0 | 6,736,423 | +6,736,423 |
| TTM TECHNOLOGIES INC | 0 | 116,921 | +116,921 | 0 | 8,067,549 | +8,067,549 |
| TRANSUNION | 0 | 77,948 | +77,948 | 0 | 6,684,041 | +6,684,041 |
| RB GLOBAL INC | 0 | 785,947 | +785,947 | 0 | 80,850,368 | +80,850,368 |
| ENDEAVOUR SILVER CORP | 0 | 684,629 | +684,629 | 0 | 6,435,513 | +6,435,513 |
| XP INC | 0 | 389,738 | +389,738 | 0 | 6,380,011 | +6,380,011 |