Q2 2026 13F · SEC CIK 1568280

BW Gestao de Investimentos Ltda.

Investment managerFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $4.1B
Reported positions: 294
Top holdings a year, 3 yrs: +10.9%
Average holding period: 1.0 yrs

BW Gestao de Investimentos Ltda. is an investment manager that reported 294 positions worth $4.1B in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Spdr S&p 500 ETF Tr (SPY, 22.1%), Ishares Core S&p 500 ETF (IVV, 19.7%), Space Ex Tech Spacex Class A (SPCX, 2.4%). A portfolio copying its top holdings returned 10.9% a year over the last 3 years, against 20.4% for the S&P 500.

BW Gestao de Investimentos Ltda. holdings largest 50 of 294 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

BW Gestao de Investimentos Ltda. 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
SPYSpdr S&p 500 ETF Tr	22.1%	—	1,227,723	—	$916.8M
IVVIshares Core S&p 500 ETF	19.7%	8.7%	1,093,321	+264.4%	$818.8M
SPCXSpace Ex Tech Spacex Class A	2.4%	—	587,335	—	$100.4M
RBARb Global Inc	1.4%	3.1%	495,048	-31.7%	$57.6M
THCTenet Healthcare Corp	1.3%	2.7%	279,811	-12.7%	$52.3M
MUMicron Technology Inc	1.1%	—	39,210	—	$45.3M
MSFTMicrosoft Corp	1.0%	0.9%	115,951	+123.8%	$43.3M
ECLEcolab Inc	1.0%	1.0%	144,856	+75.9%	$40.4M
AMZNAmazon Com Inc Com	0.8%	—	146,407	—	$34.9M
COPXGlobal X Copper Miners ETF	0.8%	1.4%	453,150	+10.5%	$34.9M
ECHOEchostar Corp	0.8%	1.8%	320,727	-5.8%	$32.6M
XLVSelect Sector Spdr Tr	0.8%	1.3%	201,000	+0.0%	$31.9M
GOOGAlphabet Inc	0.8%	—	90,000	—	$31.8M
ASMLAsml Hldg NV	0.7%	—	15,000	—	$29.8M
MDLNMedline Inc	0.7%	0.9%	690,000	+56.8%	$27.2M
BXBlackstone Inc Com	0.6%	1.0%	216,100	+10.5%	$25.4M
GNRCGenerac Hldgs Inc	0.6%	—	82,814	—	$24.2M
CENXCentury Alum Co	0.6%	0.8%	523,162	+69.4%	$24.1M
SHWSherwin Williams Co Com	0.6%	1.1%	68,562	-11.9%	$23.6M
PHParker-Hannifin Corp	0.6%	0.8%	24,026	+14.0%	$23.5M
NTNXNutanix Inc	0.6%	1.1%	450,526	-28.4%	$23.0M
AAPLApple Inc	0.5%	0.8%	77,469	+16.7%	$22.4M
CLVTClarivate PLC	0.5%	0.7%	10,041,847	+69.5%	$21.7M
XELXcel Energy Inc	0.5%	0.9%	256,306	+4.9%	$20.6M
LITGlobal X Fds	0.5%	0.6%	258,000	+50.0%	$20.2M
URAGlobal X Uranium ETF	0.5%	—	446,800	—	$19.5M
EDConsolidated Edison Inc	0.5%	0.8%	170,209	+4.4%	$18.8M
GLWCorning Inc.	0.4%	—	72,919	—	$18.6M
SOSouthern Co.	0.4%	0.9%	193,731	-7.4%	$18.5M
MOSMosaic Co	0.4%	—	873,053	—	$18.5M
AMDAdvanced Micro Devices Inc	0.4%	—	31,052	—	$18.0M
FPSForgent Power Solutions Inc	0.4%	0.7%	320,824	-40.6%	$17.9M
AEPAmerican Elec Pwr Co Inc	0.4%	0.9%	128,353	-16.2%	$17.6M
CNPCenterpoint Energy Inc	0.4%	0.7%	384,471	+4.0%	$16.9M
COFCapital One Financial Corp	0.4%	—	82,997	—	$16.7M
WMBWilliams Companies	0.4%	0.7%	221,536	+0.7%	$16.5M
EEMIshares	0.4%	—	238,968	—	$16.3M
TKRTimken Co	0.4%	—	110,445	—	$16.0M
BKHBlack Hills	0.4%	—	215,401	—	$16.0M
DDOGDatadog Inc	0.4%	—	60,915	—	$15.9M
USBUS Bancorp Del	0.4%	—	256,730	—	$15.5M
RXTRackspace Technology Inc	0.4%	—	2,340,279	—	$15.3M
BKUBankunited Inc	0.4%	—	315,000	—	$15.3M
ETREntergy Corp.	0.4%	—	132,738	—	$15.2M
FLGFlagstar Bank National Assoc	0.4%	—	1,020,000	—	$15.2M
AAPAdvance Auto Parts Inc	0.4%	—	244,150	—	$15.2M
CBRSCerebras Systems Inc	0.4%	—	67,718	—	$15.0M
SNSharkninja Inc Com Shs	0.4%	—	96,643	—	$14.7M
IDAIdacorp Inc	0.3%	0.6%	95,582	-4.0%	$14.5M
MWHSolv Energy Inc	0.3%	—	419,201	—	$14.3M

What BW Gestao de Investimentos Ltda. bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: -5.3% /yr; S&P 500 +20.1%
3 years: +10.9% /yr; S&P 500 +20.4%
5 years: +3.8% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$4.1B	294
Q1 2026	$2.2B	258
Q4 2025	$2.8B	186
Q3 2025	$1.3B	98
Q2 2025	$1.1B	81
Q1 2025	$883.8M	79
Q4 2024	$2.1B	109
Q3 2024	$604.0M	64
Q2 2024	$758.4M	60
Q1 2024	$1.1B	62
Q4 2023	$876.0M	58
Q3 2023	$810.0M	58

Questions about BW Gestao de Investimentos Ltda.'s portfolio

What stocks does BW Gestao de Investimentos Ltda. own?

BW Gestao de Investimentos Ltda.'s latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 294 positions worth $4.1B. The largest are Spdr S&p 500 ETF Tr (SPY) at 22.1%, Ishares Core S&p 500 ETF (IVV) at 19.7%, Space Ex Tech Spacex Class A (SPCX) at 2.4%, Rb Global Inc (RBA) at 1.4% and Tenet Healthcare Corp (THC) at 1.3%.

What did BW Gestao de Investimentos Ltda. buy last quarter?

In Q2 2026, BW Gestao de Investimentos Ltda. added Ishares Core S&p 500 ETF (IVV) (+264.4% shares), Microsoft Corp (MSFT) (+123.8% shares) and Ecolab Inc (ECL) (+75.9% shares), compared with its Q1 2026 filing.

What did BW Gestao de Investimentos Ltda. sell last quarter?

In Q2 2026, BW Gestao de Investimentos Ltda. cut from its top 50 Spdr (XLU), cut from its top 50 Sable Offshore Corp (SOC), cut from its top 50 Broadcom Inc (AVGO), cut from its top 50 American Airlines Group Inc (AAL), cut from its top 50 Dicks Sporting Goods Inc Com (DKS), Forgent Power Solutions Inc (FPS) (-40.6% shares), Rb Global Inc (RBA) (-31.7% shares) and Nutanix Inc (NTNX) (-28.4% shares), compared with its Q1 2026 filing.

How has BW Gestao de Investimentos Ltda.'s portfolio performed?

A portfolio copying BW Gestao de Investimentos Ltda.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +10.9% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: -5.3% against +20.1%. Over 5 years: +3.8% a year against +11.6%.

When is BW Gestao de Investimentos Ltda.'s next 13F filing due?

13F filings are due 45 days after each quarter ends. BW Gestao de Investimentos Ltda.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.