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 State Str Spdr S&p 500 ETF T (SPY, 22.1%), Ishares Tr (IVV, 19.7%), Space Exploration Techn Corp (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
SPYState Str Spdr S&p 500 ETF T	22.1%	—	1,227,723	—	$916.8M
IVVIshares Tr	19.7%	8.7%	1,093,321	+264.4%	$818.8M
SPCXSpace Exploration Techn Corp	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	0.8%	—	146,407	—	$34.9M
COPXGlobal X Fds	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	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	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 Fds	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 Finl Corp	0.4%	—	82,997	—	$16.7M
WMBWilliams Cos	0.4%	0.7%	221,536	+0.7%	$16.5M
EEMIshares Tr	0.4%	—	238,968	—	$16.3M
TKRTimken Co Com	0.4%	—	110,445	—	$16.0M
BKHBlack Hills	0.4%	—	215,401	—	$16.0M
DDOGDatadog Inc	0.4%	—	60,915	—	$15.9M
USBUS Bancorp	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 New	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	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.

Added to

IVV Ishares Tr+264.4% shares
MSFT Microsoft Corp+123.8% shares
ECL Ecolab Inc+75.9% shares
CLVT Clarivate PLC+69.5% shares
CENX Century Alum Co+69.4% shares
MDLN Medline Inc+56.8% shares
LIT Global X Fds+50.0% shares
AAPL Apple Inc+16.7% shares

Reduced

FPS Forgent Power Solutions Inc-40.6% shares
RBA Rb Global Inc-31.7% shares
NTNX Nutanix Inc-28.4% shares
AEP American Elec Pwr Co Inc-16.2% shares
THC Tenet Healthcare Corp-12.7% shares
SHW Sherwin Williams Co-11.9% shares
SO Southern Co-7.4% shares
ECHO EchoStar Corp-5.8% shares

Left the top 50

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, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 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 State Str Spdr S&p 500 ETF T (SPY) at 22.1%, Ishares Tr (IVV) at 19.7%, Space Exploration Techn Corp (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 Tr (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 Select Sector Spdr Tr (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 (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.