BW Gestao de Investimentos Ltda.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 10, 2026), BW Gestao de Investimentos Ltda. reported 186 stock positions worth $2.8 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 17.8% of the portfolio, followed by Invesco S&P 500 Equal Weight (RSP, 10.1%) and RB Global (RBA, 2.8%). Compared with Q3 2025, it opened 120 new positions, sold out of 32, added to 33 and reduced 29. The biggest buy was a new position in Invesco S&P 500 Equal Weight (RSP) and the biggest sale Tenet Healthcare (THC, shares −14%).

Most Recent 13F
Q2 2026
Location
SAO PAULO, D5
CIK
0001568280
Portfolio Value
$2.8B (Q4 2025)
SEC Filing
0001568280-26-000002 ↗ filed Feb 10, 2026

Holdings Value

0$1.0B$2.0B$3.0B$4.0B$5.0B Q1 2024: $1.1B Q1 2024 Q2 2024: $758.4M Q2 2024 Q3 2024: $604.0M Q3 2024 Q4 2024: $2.1B Q4 2024 Q1 2025: $883.8M Q1 2025 Q2 2025: $1.1B Q2 2025 Q3 2025: $1.3B Q3 2025 Q4 2025: $2.8B $2.8B Q4 2025 Q1 2026: $2.2B Q1 2026 Q2 2026: $4.1B Q2 2026

Holdings 186 stocks · $2.8B
IVV iShares Core S&P 500 ETF 17.84% 738,842 $506.1M Add +376.7%
RSP Invesco S&P 500 Equal Weight 10.12% 1,499,100 $287.2M New
RBA RB Global Inc. 2.85% 785,947 $80.9M Add +14.6%
THC Tenet Healthcare Corp. 2.50% 357,435 $71.0M Reduce -14.5%
PATH Uipath Inc. Class A 1.75% 3,032,150 $49.7M Reduce -18.3%
XLU St Sr Utl SL SE SPDR ETF-Usd 1.73% 1,150,000 $49.1M New
FOUR SHIFT4 Payments Inc. Class A 1.53% 689,788 $43.4M Add +9.0%
XLV SS Health Care Select Sector 1.45% 266,000 $41.2M Reduce -11.6%
MU Micron Technology Inc. 1.41% 139,803 $39.9M New
NTNX Nutanix Inc. Class A 1.21% 663,074 $34.3M Add +19.1%
ECL Ecolab Inc. 1.12% 120,787 $31.7M Add +2.5%
CPRI Capri Holdings Ltd. 1.09% 1,267,373 $30.9M No change
ECHO Echostar Corp. Class A 1.00% 259,871 $28.2M New
COF Capital One Financial Corp. 0.92% 107,606 $26.1M New
NRG NRG Energy Inc. 0.87% 155,895 $24.8M Add +94.9%
GLOB Globant SA 0.83% 359,487 $23.5M Reduce -5.9%
FTAI Ftai Aviation Ltd. 0.81% 117,104 $23.1M Reduce -3.5%
BX Blackstone Inc. 0.81% 148,776 $22.9M Add +345.0%
TLN Talen Energy Corp. 0.77% 58,077 $21.8M New
CCJ Cameco Corp. 0.75% 232,949 $21.3M Add +72.5%
DKS Dick's Sporting Goods Inc. 0.73% 104,048 $20.6M Reduce -0.4%
LIN Linde PLC 0.72% 48,000 $20.5M New
AEP American Electric Power 0.69% 169,861 $19.6M New
SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE 0.69% 283,254 $19.5M New
ALB Albemarle Corp. 0.66% 132,250 $18.7M Add +181.8%
JPM JPMorgan Chase & Co. 0.64% 56,117 $18.1M New
ED Consolidated Edison Inc. 0.63% 181,065 $18.0M New
XEL Xcel Energy Inc. 0.63% 242,457 $17.9M New
SHW The Sherwin-Williams Co. 0.63% 55,214 $17.9M Add +606.6%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.63% 324,823 $17.9M New
PRGO Perrigo Co. PLC 0.63% 1,277,069 $17.8M Reduce -19.3%
HBAN Huntington Bancshares Inc. 0.62% 1,020,000 $17.7M New
BIRK Birkenstock Holding PLC 0.61% 424,835 $17.4M Reduce -16.1%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.60% 254,304 $17.1M Add +18.0%
SRE Sempra 0.59% 188,347 $16.6M New
EXE Expand Energy Corp. 0.57% 146,700 $16.2M Reduce -30.9%
PLNT Planet Fitness Inc. Class A 0.57% 148,552 $16.1M Add +29.1%
EVRG Evergy Inc. 0.56% 220,173 $16.0M New
CVS CVS Health Corp. 0.56% 200,000 $15.9M Reduce -35.5%
ALIT Alight Inc. Class A 0.55% 8,059,203 $15.7M Reduce -11.1%
FE Firstenergy Corp. 0.53% 338,898 $15.2M New
UGI Ugi Corp. 0.53% 401,594 $15.0M New
PCG P G & E Corp. 0.52% 925,788 $14.9M New
SOLS Solstice Adv Materials Inc. 0.52% 305,507 $14.8M New
EVEX Eve Holding Inc. filed as EVE HLDG INC 0.52% 3,686,140 $14.7M Add +49.7%
CLVT Clarivate PLC 0.51% 4,345,321 $14.5M Add +51.7%
MSFT Microsoft Corp. 0.51% 29,976 $14.5M Add +35.9%
SWX Southwest Gas Holdings Inc. 0.49% 174,847 $14.0M New
EQT Eqt Corp. 0.48% 255,800 $13.7M Reduce -23.2%
NXT Nextpower Inc. 0.48% 155,895 $13.6M New
B Barrick Mining Corp. 0.47% 305,959 $13.3M Add +206.0%
SOC Sable Offshore Corp. 0.47% 1,467,222 $13.2M New
ETR Entergy Corp. 0.46% 142,048 $13.1M New
LITE Lumentum Holdings Inc. 0.46% 35,076 $12.9M New
FLG Flagstar Bank NA 0.44% 1,000,000 $12.6M New
AMG Affiliated Managers Group 0.43% 42,000 $12.1M New
PB Prosperity Bancshares Inc. 0.43% 174,867 $12.1M New
PENN Penn Entertainment Inc. 0.42% 817,117 $12.1M Add +12.5%
PH Parker Hannifin Corp. 0.42% 13,709 $12.0M New
ICE Intercontinental Exchange Inc. 0.42% 74,067 $12.0M New
WBD Warner Bros Discovery Inc. 0.42% 415,928 $12.0M New
WBS Webster Financial Corp. 0.42% 190,021 $12.0M New
PFSI Pennymac Financial Services 0.42% 90,000 $11.9M New
USB US Bancorp 0.42% 221,316 $11.8M New
SSB Southstate Bank Corp. 0.41% 125,005 $11.8M New
KKR KKR & Co. Inc. 0.41% 92,003 $11.7M New
TAN Invesco Solar ETF 0.40% 233,843 $11.5M New
IDA Idacorp Inc. 0.40% 90,740 $11.5M New
URA Global X Uranium ETF 0.40% 268,100 $11.5M New
SN Sharkninja Inc. 0.38% 97,472 $10.9M New
CW Curtiss-Wright Corp. 0.38% 19,489 $10.7M Add +62.4%
HUT Hut 8 Corp. 0.38% 233,843 $10.7M Reduce -16.5%
FCX Freeport-McMoran Inc. 0.37% 206,938 $10.5M Add +72.5%
PNFP Pinnacle Financial Partners 0.37% 110,000 $10.5M New
TKR Timken Co. 0.37% 124,730 $10.5M New
SKE Skeena Resources Ltd. 0.37% 438,147 $10.4M New
CSTM Constellium SE 0.36% 546,270 $10.3M New
CHRW C.H. Robinson Worldwide Inc. 0.35% 62,358 $10.0M New
RS Reliance Inc. 0.35% 34,666 $10.0M New
AMZN Amazon.com Inc. 0.35% 43,019 $9.9M Add +21.4%
CVNA Carvana Co. 0.35% 23,359 $9.9M Add +192.0%
COLB Columbia Banking System Inc. 0.34% 350,000 $9.8M New
AAL American Airlines Group Inc. 0.33% 605,000 $9.3M New
LUV Southwest Airlines Co. 0.33% 223,583 $9.2M New
CLS Celestica Inc. 0.32% 31,179 $9.2M Add +29.9%
C Citigroup Inc. 0.32% 78,337 $9.1M New
MT Arcelormittal-NY Registered 0.32% 200,000 $9.1M New
AAPL Apple Inc. 0.32% 33,466 $9.1M Add +320.1%
CNR Core Natural Resources Inc. 0.32% 102,473 $9.1M New
MKTX Marketaxess Holdings Inc. 0.32% 49,500 $9.0M New
CELH Celsius Holdings Inc. 0.31% 194,869 $8.9M New
VRNS Varonis Systems Inc. 0.30% 263,169 $8.6M Reduce -17.7%
DAL Delta Air Lines Inc. 0.30% 123,000 $8.5M New
EPAM Epam Systems Inc. 0.30% 41,352 $8.5M Add +0.1%
UAL United Airlines Holdings Inc. 0.30% 75,000 $8.4M New
MS Morgan Stanley 0.29% 46,945 $8.3M New
CNP Centerpoint Energy Inc. 0.29% 213,988 $8.2M New
CINT Ci&t Inc./United States-A 0.29% 2,010,665 $8.2M Reduce -18.0%
PAAS Pan American Silver Corp. 0.28% 155,980 $8.1M New
TTMI TTM Technologies 0.28% 116,921 $8.1M Add +387.2%
BKU Bankunited Inc. 0.27% 175,000 $7.8M New
CLF Cleveland-Cliffs Inc. 0.27% 582,624 $7.7M New
KRE SS SPDR S&P Regional Bank 0.27% 116,921 $7.6M New
PSKY Paramount Skydance Class B 0.27% 564,914 $7.6M New
CTRA Coterra Energy Inc. 0.26% 284,900 $7.5M Add +301.2%
TBBK The Bancorp Inc. 0.26% 110,000 $7.4M New
AUB Atlantic Union Bankshares Co. 0.26% 210,000 $7.4M New
CRH CRH PLC 0.26% 58,882 $7.3M New
EVR Evercore Inc. Class A 0.26% 21,512 $7.3M New
WCN Waste Connections Inc. 0.26% 41,630 $7.3M No change
CENX Century Aluminum Company 0.25% 183,669 $7.2M Add +83.7%
LOW Lowe's Cos Inc. 0.25% 29,783 $7.2M Add +826.4%
AMRZ Amrize Ltd. 0.25% 131,457 $7.1M New
AVGO Broadcom Inc. 0.24% 20,000 $6.9M New
HLI Houlihan Lokey Inc. 0.24% 38,974 $6.8M Reduce -18.8%
ARKK ARK Innovation ETF 0.24% 87,577 $6.7M New
TRU Transunion 0.24% 77,948 $6.7M New
EXK Endeavour Silver Corp. 0.23% 684,629 $6.4M New
XP XP Inc. Class A 0.22% 389,738 $6.4M New
MDLN Medline Inc. Class A 0.22% 150,000 $6.3M New
SEI Solaris Energy Infrastructur 0.22% 136,365 $6.3M New
NXE Nexgen Energy Ltd. 0.22% 677,146 $6.2M New
HLNE Hamilton Lane Inc. Class A 0.22% 45,500 $6.1M New
SF Stifel Financial Corp. 0.21% 48,000 $6.0M New
BKH Black Hills Corp. 0.21% 86,219 $6.0M New
AES AES Corp. 0.21% 415,406 $6.0M New
CDE Coeur Mining Inc. 0.21% 328,724 $5.9M New
AER Aercap Holdings NV 0.20% 40,000 $5.8M Reduce -67.0%
UWMC Uwm Holdings Corp. 0.20% 1,300,146 $5.7M New
SRAD Sportradar Group AG-A 0.20% 233,843 $5.6M Add +133.8%
AR Antero Resources Corp. 0.19% 153,196 $5.3M Reduce -10.7%
EWZ iShares MSCI Brazil ETF 0.18% 164,400 $5.2M Reduce -80.3%
KVUE Kenvue Inc. 0.18% 300,000 $5.2M Reduce -63.5%
DNN Denison Mines Corp. 0.17% 1,848,804 $4.9M New
IBOC International Bancshares CRP 0.16% 70,000 $4.7M New
BTI British American Tob-SP ADR 0.16% 77,948 $4.4M New
MC Moelis & Co. Class A 0.16% 64,000 $4.4M New
CNOB Connectone Bancorp Inc. 0.15% 162,500 $4.3M New
RL Ralph Lauren Corp. 0.15% 11,816 $4.2M New
AA Alcoa Corp. 0.15% 77,455 $4.1M Reduce -88.8%
GIL Gildan Activewear Inc. 0.14% 65,864 $4.1M New
WAT Waters Corp. 0.14% 10,716 $4.1M New
DECK Deckers Outdoor Corp. 0.14% 39,002 $4.0M New
ORCL Oracle Corp. 0.14% 20,549 $4.0M New
CNX CNX Resources Corp. 0.14% 108,800 $4.0M Add +180.5%
HTO H2O America 0.14% 81,202 $4.0M New
CRK Comstock Resources Inc. 0.12% 152,100 $3.5M Add +163.7%
RRC Range Resources Corp. 0.12% 97,900 $3.5M Reduce -36.8%
SGML Sigma Lithium Corp. 0.12% 260,336 $3.4M New
FLUT Flutter Entertainment PLC-Di 0.12% 15,589 $3.4M New
VIK Viking Holdings Ltd. 0.12% 46,782 $3.3M New
HPE Hewlett Packard Enterprise 0.11% 134,283 $3.2M Reduce -62.7%
CHTR Charter Communications Inc. Class A 0.11% 15,000 $3.1M New
PAM Pampa Energia SA-Spon ADR 0.11% 35,076 $3.1M New
TFC Truist Financial Corp. 0.11% 61,110 $3.0M New
NAVI Navient Corp. 0.11% 230,000 $3.0M New
AS Amer Sports Inc. 0.10% 78,058 $2.9M Reduce -2.4%
KGS Kodiak Gas Services Inc. 0.10% 77,948 $2.9M New
CMG Chipotle Mexican Grill Inc. 0.10% 78,106 $2.9M New
WIX Wix.com Ltd. 0.10% 27,431 $2.8M Reduce -68.8%
MNDY Monday.com Ltd. 0.10% 18,701 $2.8M Reduce -42.5%
TEX Terex Corp. 0.09% 50,000 $2.7M New
IAG Iamgold Corp. 0.09% 155,895 $2.6M Reduce -61.0%
GPOR Gulfport Energy Corp. 0.09% 11,800 $2.5M Add +173.7%
GT Goodyear Tire & Rubber Co. 0.08% 266,801 $2.3M Reduce -83.0%
XOP SS SPDR S&P Og Exp & Prod 0.08% 17,955 $2.3M New
VIST Vista Energy Sab DE CV 0.08% 44,500 $2.2M New
V Visa Inc. Class A 0.07% 6,069 $2.1M Add +4.9%
TSM Taiwan Semiconductor-SP ADR 0.07% 6,992 $2.1M New
FIBK First Interstate Bancsys-A 0.07% 60,000 $2.1M New
GAP The Gap Inc. 0.07% 77,969 $2.0M New
KEX Kirby Corp. 0.07% 16,850 $1.9M New
EAT Brinker International Inc. 0.06% 11,692 $1.7M Reduce -85.4%
XRX Xerox Holdings Corp. 0.06% 700,000 $1.7M New
OPTU Optimum Communications Inc. Class A 0.06% 980,797 $1.6M New
UBSI United Bankshares Inc. 0.05% 40,000 $1.5M New
ROST Ross Stores Inc. 0.05% 7,795 $1.4M New
CNNE Cannae Holdings Inc. 0.04% 71,015 $1.1M No change
WING Wingstop Inc. 0.03% 3,850 $918K New
CBC Central Bancompany 0.03% 35,000 $844K New
CPRT Copart Inc. 0.03% 18,655 $730K No change
NEM Newmont Corp. 0.02% 5,848 $584K New
RKT Rocket Cos Inc. Class A 0.02% 24,543 $475K New
WMT Walmart Inc. 0.02% 3,897 $434K New
CAT Caterpillar Inc. 0.01% 680 $390K New
ABBV Abbvie Inc. 0.01% 1,092 $250K New

Options reported separately and not counted above: SPY puts ($511.4M), IWM puts ($320.0M), QQQ puts ($184.3M), QQQ calls ($92.1M), MU calls ($85.6M), KWEB calls ($81.7M), IWM calls ($73.8M), AVGO calls ($69.2M), SPY calls ($34.1M), ITB puts ($28.9M), XRT puts ($25.6M), KRE puts ($19.4M), and 7 more.

Portfolio Sells Q3 2025 → Q4 2025
THC Tenet Healthcare Corp. Reduce -14.5% 2.50% −3.92
PRGO Perrigo Co. PLC Reduce -19.3% 0.63% −2.04
PATH Uipath Inc. Class A Reduce -18.3% 1.75% −2.01
EWZ iShares MSCI Brazil ETF Reduce -80.3% 0.18% −1.77
XLV SS Health Care Select Sector Reduce -11.6% 1.45% −1.72
ALIT Alight Inc. Class A Reduce -11.1% 0.55% −1.68
COPX Global X Copper Miners ETF Sold out 0.00% −1.63
AA Alcoa Corp. Reduce -88.8% 0.15% −1.57
OC Owens Corning Sold out 0.00% −1.54
CVS CVS Health Corp. Reduce -35.5% 0.56% −1.21
GFR Greenfire Resources Ltd. Sold out 0.00% −1.14
EXE Expand Energy Corp. Reduce -30.9% 0.57% −1.14
BIRK Birkenstock Holding PLC Reduce -16.1% 0.61% −1.12
VRNS Varonis Systems Inc. Reduce -17.7% 0.30% −1.09
WIX Wix.com Ltd. Reduce -68.8% 0.10% −1.08
TECK Teck Resources Ltd.-CLS B Sold out 0.00% −1.08
DKS Dick's Sporting Goods Inc. Reduce -0.4% 0.73% −1.03
KWEB Kranesh Csi China Internet Sold out 0.00% −1.03
NOG Northern Oil and Gas Inc. Sold out 0.00% −0.97
AMTM Amentum Holdings Inc. Sold out 0.00% −0.93
AER Aercap Holdings NV Reduce -67.0% 0.20% −0.91
EQT Eqt Corp. Reduce -23.2% 0.48% −0.89
GLOB Globant SA Reduce -5.9% 0.83% −0.83
KVUE Kenvue Inc. Reduce -63.5% 0.18% −0.83
GT Goodyear Tire & Rubber Co. Reduce -83.0% 0.08% −0.81
JEF Jefferies Financial Group Inc. Sold out 0.00% −0.79
TER Teradyne Inc. Sold out 0.00% −0.76
JBS JBS NV-A Sold out 0.00% −0.75
FTAI Ftai Aviation Ltd. Reduce -3.5% 0.81% −0.72
EAT Brinker International Inc. Reduce -85.4% 0.06% −0.71
CINT Ci&t Inc./United States-A Reduce -18.0% 0.29% −0.67
ONON On Holding AG Class A Sold out 0.00% −0.64
KSA Ishrs MSCI Saudi Arabia ETF Sold out 0.00% −0.61
HPE Hewlett Packard Enterprise Reduce -62.7% 0.11% −0.56
HLI Houlihan Lokey Inc. Reduce -18.8% 0.24% −0.51
NGD New Gold Inc. Sold out 0.00% −0.48
RBLX Roblox Corp. Class A Sold out 0.00% −0.42
LTM Latam Airlines Group SA-ADR Sold out 0.00% −0.41
NI Nisource Inc. Sold out 0.00% −0.39
ANF Abercrombie & Fitch Co. Class A Sold out 0.00% −0.39
AEM Agnico Eagle Mines Ltd. Sold out 0.00% −0.38
MNDY Monday.com Ltd. Reduce -42.5% 0.10% −0.38
NU Nu Holdings Ltd./Cayman Isl-A Sold out 0.00% −0.36
HUT Hut 8 Corp. Reduce -16.5% 0.38% −0.36
YPF YPF S.A.-Sponsored ADR Sold out 0.00% −0.35
CCL Carnival Corp. Sold out 0.00% −0.35
RRC Range Resources Corp. Reduce -36.8% 0.12% −0.32
AUGO Aura Minerals Inc. Sold out 0.00% −0.31
EIS iShares MSCI Israel ETF Sold out 0.00% −0.30
IAG Iamgold Corp. Reduce -61.0% 0.09% −0.30

Portfolio Buys Q3 2025 → Q4 2025
RSP Invesco S&P 500 Equal Weight New 10.12% +10.12
IVV iShares Core S&P 500 ETF Add +376.7% 17.84% +9.98
XLU St Sr Utl SL SE SPDR ETF-Usd New 1.73% +1.73
MU Micron Technology Inc. New 1.41% +1.41
ECHO Echostar Corp. Class A New 1.00% +1.00
COF Capital One Financial Corp. New 0.92% +0.92
TLN Talen Energy Corp. New 0.77% +0.77
LIN Linde PLC New 0.72% +0.72
AEP American Electric Power New 0.69% +0.69
SQM Quimica Y Minera Chil-SP ADR New 0.69% +0.69
JPM JPMorgan Chase & Co. New 0.64% +0.64
ED Consolidated Edison Inc. New 0.63% +0.63
XEL Xcel Energy Inc. New 0.63% +0.63
BAC Bank of America Corp. New 0.63% +0.63
HBAN Huntington Bancshares Inc. New 0.62% +0.62
SRE Sempra New 0.59% +0.59
EVRG Evergy Inc. New 0.56% +0.56
FE Firstenergy Corp. New 0.53% +0.53
UGI Ugi Corp. New 0.53% +0.53
PCG P G & E Corp. New 0.52% +0.52
SOLS Solstice Adv Materials Inc. New 0.52% +0.52
SWX Southwest Gas Holdings Inc. New 0.49% +0.49
NXT Nextpower Inc. New 0.48% +0.48
SOC Sable Offshore Corp. New 0.47% +0.47
ETR Entergy Corp. New 0.46% +0.46
LITE Lumentum Holdings Inc. New 0.46% +0.46
FLG Flagstar Bank NA New 0.44% +0.44
AMG Affiliated Managers Group New 0.43% +0.43
PB Prosperity Bancshares Inc. New 0.43% +0.43
SHW The Sherwin-Williams Co. Add +606.6% 0.63% +0.43
PH Parker Hannifin Corp. New 0.42% +0.42
ICE Intercontinental Exchange Inc. New 0.42% +0.42
WBD Warner Bros Discovery Inc. New 0.42% +0.42
WBS Webster Financial Corp. New 0.42% +0.42
PFSI Pennymac Financial Services New 0.42% +0.42
USB US Bancorp New 0.42% +0.42
SSB Southstate Bank Corp. New 0.41% +0.41
KKR KKR & Co. Inc. New 0.41% +0.41
TAN Invesco Solar ETF New 0.40% +0.40
IDA Idacorp Inc. New 0.40% +0.40
URA Global X Uranium ETF New 0.40% +0.40
SN Sharkninja Inc. New 0.38% +0.38
BX Blackstone Inc. Add +345.0% 0.81% +0.38
ALB Albemarle Corp. Add +181.8% 0.66% +0.37
PNFP Pinnacle Financial Partners New 0.37% +0.37
TKR Timken Co. New 0.37% +0.37
SKE Skeena Resources Ltd. New 0.37% +0.37
CSTM Constellium SE New 0.36% +0.36
CHRW C.H. Robinson Worldwide Inc. New 0.35% +0.35
RS Reliance Inc. New 0.35% +0.35

Options Activity Q3 2025 → Q4 2025
SPY SS SPDR S&P 500 ETF Trust-US put Add +275.0% 750,000 $511.4M
IWM iShares Russell 2000 ETF put Add +18.2% 1,300,000 $320.0M
TSLA Tesla Inc. put Sold out 480,000 $213.5Mbefore exit
QQQ Invesco QQQ Trust Series 1 put New 300,000 $184.3M
QQQ Invesco QQQ Trust Series 1 call New 150,000 $92.1M
ARKK ARK Innovation ETF put Sold out 1,000,000 $86.3Mbefore exit
MU Micron Technology Inc. call New 300,000 $85.6M
KWEB Kranesh Csi China Internet call New 2,400,000 $81.7M
IWM iShares Russell 2000 ETF call New 300,000 $73.8M
AVGO Broadcom Inc. call New 200,000 $69.2M
PCG P G & E Corp. call Sold out 2,800,000 $42.2Mbefore exit
SPY SS SPDR S&P 500 ETF Trust-US call New 50,000 $34.1M
XLV SS Health Care Select Sector put Sold out 230,000 $32.0Mbefore exit
EIX Edison International call Sold out 468,000 $25.9Mbefore exit
XRT SS SPDR S&P Retail ETF put Reduce -50.0% 300,000 $25.6M
PATH Uipath Inc. Class A put New 1,000,000 $16.4M
WBD Warner Bros Discovery Inc. call New 500,000 $14.4M
HUT Hut 8 Corp. call Sold out 300,000 $10.4Mbefore exit
SGML Sigma Lithium Corp. call Add +426.4% 764,400 $10.1M
KVUE Kenvue Inc. call Reduce -68.8% 500,000 $8.6M
CLF Cleveland-Cliffs Inc. call New 649,300 $8.6M
PATH Uipath Inc. Class A call Reduce -50.0% 500,000 $8.2M
GT Goodyear Tire & Rubber Co. call Sold out 600,000 $4.5Mbefore exit
ARIS Aris Mining Corp. put Sold out 200,000 $2.0Mbefore exit
THC Tenet Healthcare Corp. call Sold out 8,000 $1.6Mbefore exit
UEC Uranium Energy Corp. put Sold out 100,000 $1.3Mbefore exit
SGML Sigma Lithium Corp. put Sold out 100,000 $641Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 293$4.1BSPY, IVV, SPCX, RBA, THC
Q1 2026 257$2.2BIVV, RBA, THC, XLU, ECHO
Q4 2025 186$2.8BIVV, RSP, RBA, THC, PATH
Q3 2025 98$1.3BIVV, THC, RBA, PATH, FOUR
Q2 2025 81$1.1BRBA, THC, FOUR, PRGO, NTNX
Q1 2025 79$883.8MTHC, EWZ, RBA, ORCL, PRGO
Q4 2024 109$2.1BIVV, MDY, THC, RBA, XLV
Q3 2024 64$604.0MTHC, RBA, CALF, SPY, AER
Q2 2024 60$758.4MCALF, RBA, THC, ORCL, RSP
Q1 2024 62$1.1BHYG, CALF, RSP, QQQ, RBA