BW Gestao de Investimentos Ltda.

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), BW Gestao de Investimentos Ltda. reported 293 stock positions worth $4.1 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 22.1% of the portfolio, followed by iShares Core S&P 500 ETF (IVV, 19.7%) and Space Exploration Techn Class A (SPCX, 2.4%). Compared with Q1 2026, it opened 134 new positions, sold out of 98, added to 66 and reduced 83. The biggest buy was a new position in SS SPDR S&P 500 ETF Trust-US (SPY) and the biggest sale RB Global (RBA, shares −32%).

Most Recent 13F
Q2 2026
Location
SAO PAULO, D5
CIK
0001568280
Portfolio Value
$4.1B (Q2 2026)
SEC Filing
0001568280-26-000005 ↗ filed Aug 14, 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 Q4 2025 Q1 2026: $2.2B Q1 2026 Q2 2026: $4.1B $4.1B Q2 2026

Holdings 293 stocks · $4.1B
SPY SS SPDR S&P 500 ETF Trust-US 22.11% 1,227,723 $916.8M New
IVV iShares Core S&P 500 ETF 19.75% 1,093,321 $818.8M Add +264.4%
SPCX Space Exploration Techn Class A 2.42% 587,335 $100.4M New
RBA RB Global Inc. 1.39% 495,048 $57.6M Reduce -31.7%
THC Tenet Healthcare Corp. 1.26% 279,811 $52.3M Reduce -12.7%
MU Micron Technology Inc. 1.09% 39,210 $45.3M New
MSFT Microsoft Corp. 1.04% 115,951 $43.3M Add +123.8%
ECL Ecolab Inc. 0.97% 144,856 $40.4M Add +75.9%
AMZN Amazon.com Inc. 0.84% 146,407 $34.9M Add +176.9%
COPX Global X Copper Miners ETF 0.84% 453,150 $34.9M Add +10.5%
ECHO Echostar Corp. Class A 0.79% 320,727 $32.6M Reduce -5.8%
XLV SS Health Care Select Sector 0.77% 201,000 $31.9M No change
GOOG Alphabet Inc. Class C 0.77% 90,000 $31.8M New
ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV 0.72% 15,000 $29.8M New
MDLN Medline Inc. Class A 0.66% 690,000 $27.2M Add +56.8%
BX Blackstone Inc. 0.61% 216,100 $25.4M Add +10.5%
GNRC Generac Holdings Inc. 0.58% 82,814 $24.2M New
CENX Century Aluminum Company 0.58% 523,162 $24.1M Add +69.4%
SHW The Sherwin-Williams Co. 0.57% 68,562 $23.6M Reduce -11.9%
PH Parker Hannifin Corp. 0.57% 24,026 $23.5M Add +14.0%
NTNX Nutanix Inc. Class A 0.55% 450,526 $23.0M Reduce -28.4%
AAPL Apple Inc. 0.54% 77,469 $22.4M Add +16.7%
CLVT Clarivate PLC 0.52% 10,041,847 $21.7M Add +69.5%
XEL Xcel Energy Inc. 0.50% 256,306 $20.6M Add +4.9%
LIT Global X Lithium & Battery T 0.49% 258,000 $20.2M Add +50.0%
URA Global X Uranium ETF 0.47% 446,800 $19.5M Add +79.6%
ED Consolidated Edison Inc. 0.45% 170,209 $18.8M Add +4.4%
GLW Corning Inc. 0.45% 72,919 $18.6M New
SO The Southern Co. 0.45% 193,731 $18.5M Reduce -7.4%
MOS The Mosaic Co. 0.45% 873,053 $18.5M New
AMD Advanced Micro Devices 0.43% 31,052 $18.0M Add +31.0%
FPS Forgent Power Solutions Class A 0.43% 320,824 $17.9M Reduce -40.6%
AEP American Electric Power 0.42% 128,353 $17.6M Reduce -16.2%
CNP Centerpoint Energy Inc. 0.41% 384,471 $16.9M Add +4.0%
COF Capital One Financial Corp. 0.40% 82,997 $16.7M Add +64.4%
WMB Williams Cos Inc. 0.40% 221,536 $16.5M Add +0.7%
EEM iShares MSCI Emerging Market 0.39% 238,968 $16.3M Add +36.5%
TKR Timken Co. 0.39% 110,445 $16.0M Add +57.4%
BKH Black Hills Corp. 0.39% 215,401 $16.0M Add +64.8%
DDOG Datadog Inc. Class A 0.38% 60,915 $15.9M Add +76.0%
USB US Bancorp 0.37% 256,730 $15.5M New
RXT Rackspace Technology Inc. 0.37% 2,340,279 $15.3M New
BKU Bankunited Inc. 0.37% 315,000 $15.3M Add +16.7%
ETR Entergy Corp. 0.37% 132,738 $15.2M New
FLG Flagstar Bank NA 0.37% 1,020,000 $15.2M Add +7.4%
AAP Advance Auto Parts Inc. 0.37% 244,150 $15.2M New
CBRS Cerebras Systems Inc. Class A 0.36% 67,718 $15.0M New
SN Sharkninja Inc. 0.35% 96,643 $14.7M Reduce -8.5%
IDA Idacorp Inc. 0.35% 95,582 $14.5M Reduce -4.0%
MWH Solv Energy Inc. Class A 0.34% 419,201 $14.3M Add +738.4%
NUE Nucor Corp. 0.34% 63,796 $14.2M Add +219.0%
WFC Wells Fargo & Co. 0.34% 170,164 $14.1M New
FIX Comfort Systems USA Inc. 0.33% 6,904 $13.7M Reduce -50.8%
PPL PPL Corp. 0.33% 372,096 $13.5M New
VG Venture Global Inc. Class A 0.32% 1,207,486 $13.4M Add +12.4%
GIL Gildan Activewear Inc. 0.32% 258,464 $13.3M Add +15.2%
AMAT Applied Materials Inc. 0.31% 17,915 $13.0M New
HUT Hut 8 Corp. 0.31% 110,463 $12.8M New
INIO Innio NV 0.31% 320,000 $12.7M New
FRVO Fervo Energy Co. Class A 0.30% 431,147 $12.6M New
CW Curtiss-Wright Corp. 0.30% 16,571 $12.6M Reduce -5.7%
CAT Caterpillar Inc. 0.30% 11,720 $12.5M Add +1623.5%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.30% 156,777 $12.4M Reduce -13.1%
PNFP Pinnacle Financial Partners 0.30% 122,442 $12.4M Reduce -11.0%
MKSI MKS Inc. 0.30% 27,754 $12.3M New
TPG TPG Inc. 0.29% 300,919 $12.2M New
COLB Columbia Banking System Inc. 0.29% 379,933 $12.2M Reduce -5.0%
OPTU Optimum Communications Inc. Class A 0.29% 8,395,938 $12.2M Add +414.5%
ZION Zions Bancorp NA 0.29% 173,904 $12.0M Reduce -34.4%
VLY Valley National Bancorp 0.29% 820,000 $12.0M Add +17.1%
EVRG Evergy Inc. 0.29% 137,915 $11.9M Add +20.9%
UCTT Ultra Clean Holdings Inc. 0.28% 82,843 $11.8M New
UNIT Uniti Group Inc. 0.28% 1,028,818 $11.8M No change
CPRI Capri Holdings Ltd. 0.28% 631,004 $11.7M Reduce -47.3%
ALLY Ally Financial Inc. 0.28% 254,950 $11.7M Add +34.2%
HTO H2O America 0.27% 185,806 $11.3M Reduce -15.9%
WCN Waste Connections Inc. 0.27% 67,572 $11.3M Add +24.6%
RVTY Revvity Inc. 0.26% 97,046 $10.8M Add +0.2%
NOW ServiceNow Inc. 0.26% 108,606 $10.8M Add +50.2%
DKS Dick's Sporting Goods Inc. 0.26% 47,305 $10.7M Reduce -56.4%
ICE Intercontinental Exchange Inc. 0.26% 86,399 $10.6M Add +311.7%
UNP Union Pacific Corp. 0.25% 38,800 $10.6M New
QNT Quantinuum Inc. Class A 0.25% 128,000 $10.5M New
MMM 3M Co. 0.25% 64,051 $10.4M New
XLU St Sr Utl SL SE SPDR ETF-Usd 0.25% 225,000 $10.2M Reduce -75.0%
XRX Xerox Holdings Corp. 0.25% 3,248,819 $10.2M Add +171.8%
AEE Ameren Corporation 0.24% 89,379 $10.1M New
UGI Ugi Corp. 0.24% 289,830 $10.0M Reduce -23.3%
DOCN Digitalocean Holdings Inc. 0.24% 63,393 $10.0M Reduce -48.3%
PCG P G & E Corp. 0.24% 587,019 $9.9M Add +0.7%
FAN First Trust Global Wind Ener 0.23% 386,555 $9.7M New
SOC Sable Offshore Corp. 0.22% 3,014,553 $9.3M Add +41.6%
EVEX Eve Holding Inc. filed as EVE HLDG INC 0.22% 3,686,140 $9.3M No change
MSM MSC Industrial Direct Co. Class A 0.22% 77,102 $9.2M New
TH Target Hospitality Corp. 0.22% 450,000 $9.2M New
ZM Zoom Communications Inc. 0.22% 106,065 $9.2M Add +164.8%
DLR Digital Realty Trust Inc. 0.22% 50,916 $9.1M New
WAL Western Alliance Bancorp 0.22% 109,967 $9.0M New
RBLX Roblox Corp. Class A 0.22% 165,638 $9.0M New
DE Deere & Co. 0.22% 14,075 $8.9M New
SEI Solaris Energy Infrastructur 0.21% 110,482 $8.9M Reduce -10.1%
ESI Element Solutions Inc. 0.21% 185,080 $8.8M New
ROST Ross Stores Inc. 0.21% 41,405 $8.8M Reduce -52.8%
CHTR Charter Communications Inc. Class A 0.21% 60,000 $8.5M New
LGN Legence Corp. Class A 0.21% 100,000 $8.5M New
MS Morgan Stanley 0.21% 40,700 $8.5M Reduce -29.5%
PB Prosperity Bancshares Inc. 0.20% 115,918 $8.5M New
PLNT Planet Fitness Inc. Class A 0.20% 161,161 $8.4M Reduce -15.0%
NXT Nextpower Inc. 0.20% 69,739 $8.3M Reduce -20.5%
GLOB Globant SA 0.19% 278,487 $8.1M Reduce -29.6%
EVR Evercore Inc. Class A 0.19% 23,498 $8.0M Add +11.8%
JBHT Hunt (jb) Transprt SVCS Inc. 0.19% 27,601 $8.0M New
MAIR Madison Air Solutions Corp. Class A 0.19% 200,000 $7.8M New
PCTY Paylocity Holding Corp. 0.19% 73,898 $7.7M Add +185.5%
VRNS Varonis Systems Inc. 0.18% 178,338 $7.5M Add +3.9%
AS Amer Sports Inc. 0.18% 220,824 $7.5M Add +4.7%
WBD Warner Bros Discovery Inc. 0.18% 280,000 $7.5M Reduce -45.7%
GGB Gerdau SA -Spon ADR 0.18% 1,830,489 $7.4M New
B Barrick Mining Corp. 0.18% 200,000 $7.3M Add +42.4%
V Visa Inc. Class A 0.18% 21,390 $7.3M Add +31.0%
EXP Eagle Materials Inc. 0.17% 31,617 $7.1M New
TECK Teck Resources Ltd.-CLS B 0.17% 119,367 $7.1M New
WDAY Workday Inc. Class A 0.17% 57,666 $7.1M New
BTDR Bitdeer Technologies Group-A 0.17% 441,625 $7.0M New
RS Reliance Inc. 0.17% 18,699 $7.0M New
SNOW Snowflake Inc. 0.17% 27,204 $6.9M Reduce -38.5%
CCJ Cameco Corp. 0.17% 67,800 $6.9M Add +35.6%
CIEN Ciena Corp. 0.16% 13,908 $6.8M Reduce -50.5%
IHRT Iheartmedia Inc. Class A 0.16% 1,573,466 $6.8M New
TEAM Atlassian Corp. Class A 0.16% 85,042 $6.6M Add +26.1%
PURR Hyperliquid Strategies 0.16% 828,048 $6.5M New
LPLA LPL Financial Holdings Inc. 0.15% 22,341 $6.3M New
HBAN Huntington Bancshares Inc. 0.15% 342,594 $6.1M New
AMRZ Amrize Ltd. 0.15% 113,892 $6.1M Reduce -59.5%
KGC Kinross Gold Corp. 0.15% 256,598 $6.1M Reduce -14.6%
CINT Ci&t Inc./United States-A 0.15% 1,810,665 $6.0M Reduce -6.0%
NWE Northwestern Energy Group Inc. 0.14% 83,862 $6.0M New
PATH Uipath Inc. Class A 0.14% 549,321 $6.0M Reduce -66.5%
OWL Blue Owl Capital Inc. 0.14% 678,581 $5.9M New
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.14% 51,586 $5.9M New
AME Ametek Inc. 0.14% 24,160 $5.8M New
CRH CRH PLC 0.14% 54,194 $5.8M Add +2737.4%
JAN Janus Living Inc. Class-A-1 0.14% 201,106 $5.8M Add +302.2%
EAT Brinker International Inc. 0.14% 34,031 $5.7M New
AMP Ameriprise Financial Inc. 0.14% 12,454 $5.7M New
CNOB Connectone Bancorp Inc. 0.14% 170,000 $5.7M Reduce -26.1%
CARR Carrier Global Corp. 0.13% 75,744 $5.6M New
VSH Vishay Intertechnology Inc. 0.13% 100,000 $5.4M New
CMI Cummins Inc. 0.13% 7,393 $5.3M New
ROK Rockwell Automation Inc. 0.12% 10,431 $5.2M New
FCX Freeport-McMoran Inc. 0.12% 82,099 $5.2M Reduce -71.7%
TCBI Texas Capital Bancshares Inc. 0.12% 50,000 $5.2M Reduce -23.1%
BTI British American Tob-SP ADR 0.12% 82,824 $5.1M Reduce -21.3%
ZS Zscaler Inc. 0.12% 35,691 $5.0M Add +8.2%
GOOGL Alphabet Inc. Class A 0.12% 13,849 $4.9M Add +32.9%
BAC Bank of America Corp. 0.12% 86,294 $4.9M New
ENLT Enlight Renewable Energy Ltd. 0.12% 55,222 $4.9M Add +162.0%
TT Trane Technologies PLC 0.11% 9,337 $4.6M New
RAL Ralliant Corp. 0.11% 61,704 $4.5M New
OSK Oshkosh Corp. 0.11% 29,327 $4.5M New
NVDA Nvidia Corp. 0.11% 22,463 $4.5M Reduce -14.9%
KVYO Klaviyo Inc. Class A 0.11% 293,565 $4.4M Add +147.1%
FRSH Freshworks Inc. Class A 0.10% 422,218 $4.3M Add +212.0%
QLYS Qualys Inc. 0.10% 30,628 $4.2M Add +170.8%
OUST Ouster Inc. 0.10% 66,000 $4.1M Reduce -37.7%
GTM Zoominfo Technologies Inc. 0.10% 1,399,267 $4.1M New
NET Cloudflare Inc. Class A 0.09% 15,089 $3.7M Reduce -74.3%
RBRK Rubrik Inc. Class A 0.09% 45,990 $3.7M Reduce -0.2%
TEX Terex Corp. 0.09% 50,000 $3.6M No change
BTU Peabody Energy Corp. 0.09% 155,000 $3.6M Add +47.5%
LIN Linde PLC 0.09% 6,865 $3.6M New
ALIT Alight Inc. Class A 0.09% 6,335,701 $3.5M Reduce -15.6%
OKTA Okta Inc. 0.08% 25,811 $3.5M Reduce -54.3%
MT Arcelormittal-NY Registered 0.08% 58,452 $3.5M Reduce -65.8%
VRT Vertiv Holdings Co. Class A 0.08% 10,374 $3.5M New
DAL Delta Air Lines Inc. 0.08% 37,000 $3.5M Reduce -72.3%
AAL American Airlines Group Inc. 0.08% 189,900 $3.4M Reduce -92.3%
AX Axos Financial Inc. 0.08% 35,000 $3.4M New
UAL United Airlines Holdings Inc. 0.08% 24,810 $3.4M Reduce -81.3%
KR Kroger Co. 0.08% 60,592 $3.4M New
DPC DPC Holdings PLC 0.08% 67,601 $3.3M New
LOW Lowe's Cos Inc. 0.08% 15,005 $3.3M No change
EPAM Epam Systems Inc. 0.08% 41,300 $3.3M No change
WTFC Wintrust Financial Corp. 0.08% 20,040 $3.2M Reduce -69.2%
LUV Southwest Airlines Co. 0.08% 61,272 $3.2M Reduce -67.8%
RKT Rocket Cos Inc. Class A 0.08% 199,871 $3.1M Add +88.6%
SAIL Sailpoint Inc. 0.08% 214,192 $3.1M Reduce -11.0%
TWLO Twilio Inc. Class A 0.08% 15,193 $3.1M Reduce -8.0%
TBBB BBB Foods Inc. Class A 0.08% 75,000 $3.1M New
CURB Curbline Properties Corp. 0.07% 100,000 $3.0M New
PPG PPG Industries Inc. 0.07% 24,905 $3.0M Reduce -50.2%
TBBK The Bancorp Inc. 0.07% 48,000 $3.0M Reduce -26.1%
CROX Crocs Inc. 0.07% 24,648 $3.0M New
BANR Banner Corporation 0.07% 42,500 $2.8M Reduce -57.5%
VAC Marriott Vacations World 0.07% 27,000 $2.8M New
CRWD CrowdStrike Holdings Inc. Class A 0.07% 3,573 $2.7M Reduce -56.8%
DT Dynatrace Inc. 0.07% 61,809 $2.7M New
STM Stmicroelectronics NV-NY SHS 0.07% 36,000 $2.7M Reduce -40.0%
CALY Callaway Golf Company 0.06% 143,299 $2.7M New
VVV Valvoline Inc. 0.06% 68,020 $2.7M New
BZH Beazer Homes USA Inc. 0.06% 95,300 $2.7M No change
SKM SK Telecom Co. Ltd.-Spon ADR 0.06% 82,880 $2.7M Reduce -68.6%
PM Philip Morris International 0.06% 14,350 $2.6M New
PII Polaris Inc. 0.06% 36,845 $2.5M New
CRI Carter's Inc. 0.06% 60,000 $2.5M New
ALGM Allegro Microsystems Inc. 0.06% 34,106 $2.4M Reduce -38.0%
CRWV Coreweave Inc. Class A 0.06% 23,446 $2.3M Reduce -79.2%
AG First Majestic Silver Corp. 0.06% 136,970 $2.3M New
KDP Keurig Dr Pepper Inc. 0.05% 66,000 $2.2M New
QCOM Qualcomm Inc. 0.05% 11,617 $2.1M Reduce -68.5%
FIVE Five Below 0.05% 11,569 $2.1M New
COHR Coherent Corp. 0.05% 5,000 $2.0M Reduce -41.9%
HAS Hasbro Inc. 0.05% 23,848 $2.0M New
BRBR Bellring Brands Inc. 0.05% 151,736 $2.0M New
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.05% 24,519 $1.9M New
MTCH Match Group Inc. 0.05% 49,799 $1.9M New
SCCO Southern Copper Corp. 0.05% 10,787 $1.9M New
XE X-Energy Inc. 0.04% 99,959 $1.8M New
ALM Almonty Industries Inc. 0.04% 110,463 $1.8M New
INTC Intel Corp. 0.04% 13,000 $1.8M Reduce -88.0%
YSWY Yesway Inc. Class A 0.04% 89,315 $1.8M New
AZO AutoZone Inc. 0.04% 560 $1.8M New
HCC Warrior Met Coal Inc. 0.04% 22,000 $1.8M Reduce -33.1%
KMX Carmax Inc. 0.04% 33,500 $1.8M New
ORCL Oracle Corp. 0.04% 11,917 $1.7M New
BIRK Birkenstock Holding PLC 0.04% 40,564 $1.7M Reduce -70.8%
CBC Central Bancompany 0.04% 55,310 $1.7M Add +22.9%
DELL Dell Technologies -C 0.04% 3,850 $1.7M Reduce -75.5%
RSI Rush Street Interactive Inc. 0.04% 55,000 $1.6M New
CGNX Cognex Corp. 0.04% 22,208 $1.6M Reduce -38.0%
FUN Six Flags Entertainment Corp. 0.04% 75,200 $1.6M New
SGML Sigma Lithium Corp. 0.04% 126,318 $1.6M Reduce -66.1%
QSR Restaurant Brands Intern 0.04% 22,000 $1.6M New
HSY The Hershey Co. 0.04% 9,050 $1.6M New
BOBS Bob's Discount Furniture 0.04% 100,000 $1.6M No change
ANET Arista Networks Inc. 0.04% 9,242 $1.6M New
MUSA Murphy USA Inc. 0.04% 2,911 $1.6M New
AA Alcoa Corp. 0.04% 29,108 $1.5M Reduce -90.4%
CRDO Credo Technology Group Holdi 0.04% 5,520 $1.5M New
M Macy's Inc. 0.04% 63,278 $1.5M New
HPQ HP Inc. 0.04% 66,154 $1.5M Reduce -50.1%
ACH Accendra Health Inc. 0.03% 423,091 $1.4M New
MOG.A Moog Inc. Class A 0.03% 3,400 $1.4M Reduce -41.4%
LDI Loandepot Inc. Class A 0.03% 1,147,784 $1.4M No change
JBS JBS NV-A 0.03% 115,830 $1.4M New
ARM Arm Holdings PLC-ADR 0.03% 3,850 $1.4M Reduce -74.3%
ON On Semiconductor 0.03% 13,000 $1.2M Reduce -38.1%
ELMT The Elmet Group Co. 0.03% 60,000 $1.2M New
LLY Eli Lilly & Co. 0.03% 976 $1.2M Add +12.8%
TX Ternium SA-Sponsored ADR 0.03% 25,000 $1.1M New
HLF Herbalife Ltd. 0.03% 80,000 $1.1M New
TEL Te Connectivity PLC 0.03% 5,200 $1.0M Reduce -39.5%
CNNE Cannae Holdings Inc. 0.02% 71,015 $1.0M No change
PAAS Pan American Silver Corp. 0.02% 22,528 $1.0M Reduce -92.9%
LITE Lumentum Holdings Inc. 0.02% 1,164 $999K Reduce -91.7%
TDY Teledyne Technologies Inc. 0.02% 1,400 $934K Reduce -39.1%
CAVA Cava Group Inc. 0.02% 11,713 $919K New
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.02% 67,500 $902K New
SPOT Spotify Technology SA 0.02% 1,936 $889K New
INFY Infosys Ltd.-SP ADR 0.02% 75,500 $792K New
LEN Lennar Corp. Class A 0.02% 8,620 $780K Add +2.9%
CTSH Cognizant Tech Solutions-A 0.02% 17,500 $678K New
TRMB Trimble Inc. 0.02% 13,100 $670K Reduce -40.7%
ACN Accenture PLC Class A 0.02% 5,100 $635K New
LRCX Lam Research Corp. 0.01% 1,439 $624K New
MCO Moody's Corp. 0.01% 1,354 $613K Add +151.2%
XYL Xylem Inc. 0.01% 5,149 $609K New
FERG Ferguson Enterprises Inc. 0.01% 2,337 $555K New
LHX L3HARRIS Technologies Inc. 0.01% 1,886 $548K New
SKE Skeena Resources Ltd. 0.01% 20,447 $545K New
SRE Sempra 0.01% 5,826 $540K New
TSLA Tesla Inc. 0.01% 1,262 $531K Reduce -95.8%
WDC Western Digital Corp. 0.01% 776 $496K New
TTWO Take-Two Interactive Softwre 0.01% 1,978 $494K New
MSI Motorola Solutions Inc. 0.01% 1,171 $486K New
LTM Latam Airlines Group SA-ADR 0.01% 8,000 $466K New
ONTO Onto Innovation Inc. 0.01% 1,061 $402K New
CB Chubb Ltd. 0.01% 1,146 $390K New
KEY Keycorp 0.01% 15,459 $356K Reduce -96.6%
SYK Stryker Corp. 0.01% 1,127 $355K Add +38.8%
XYZ Block Inc. 0.01% 4,270 $325K New
RDDT Reddit Inc. Class A 0.01% 1,829 $317K New
TMO Thermo Fisher Scientific Inc. 0.01% 587 $294K Add +10.1%
AMT American Tower Corp. 0.01% 1,781 $291K New
BMY Bristol-Myers Squibb Co. 0.01% 4,350 $251K Reduce -58.6%
CNH CNH Industrial NV 0.01% 22,291 $250K New
VLTO Veralto Corp. 0.01% 2,670 $237K New
DASH DoorDash Inc. Class A 0.01% 1,277 $236K New
ALL Allstate Corp. 0.01% 958 $228K New
MTZ Mastec Inc. 0.01% 537 $223K New
USFD US Foods Holding Corp. 0.01% 2,021 $207K New
GL Globe Life Inc. 0.00% 1,128 $202K New
AGBK Agi Inc. Class A 0.00% 27,634 $196K Reduce -90.2%

Options reported separately and not counted above: MU puts ($248.2M), IWM puts ($180.3M), TSLA puts ($105.2M), QQQ puts ($90.6M), EWZ calls ($51.8M), EWZ puts ($51.8M), SMH puts ($39.4M), MSFT calls ($37.3M), PLNT calls ($36.5M), SOXX puts ($32.0M), QCOM calls ($18.5M), QXO calls ($8.6M), and 1 more.

Other holdings (1): bonds, preferreds, convertibles and warrants · $165K (not counted above)
SecurityClassShares / PrincipalValueChange
XRXDW Xerox Holdings Corp. *W EXP 02/11/202 597,540$165KNo change

Total filed on the 13F, all lines: $4.1B.

Portfolio Sells Q1 2026 → Q2 2026
RBA RB Global Inc. Reduce -31.7% 1.39% −1.70
XLU St Sr Utl SL SE SPDR ETF-Usd Reduce -75.0% 0.25% −1.59
THC Tenet Healthcare Corp. Reduce -12.7% 1.26% −1.43
AVGO Broadcom Inc. Sold out 0.00% −1.38
AAL American Airlines Group Inc. Reduce -92.3% 0.08% −1.10
ECHO Echostar Corp. Class A Reduce -5.8% 0.79% −0.99
AA Alcoa Corp. Reduce -90.4% 0.04% −0.86
TLN Talen Energy Corp. Sold out 0.00% −0.84
PAAS Pan American Silver Corp. Reduce -92.9% 0.02% −0.74
SLV iShares Silver Trust Sold out 0.00% −0.73
DKS Dick's Sporting Goods Inc. Reduce -56.4% 0.26% −0.70
PATH Uipath Inc. Class A Reduce -66.5% 0.14% −0.67
CPRI Capri Holdings Ltd. Reduce -47.3% 0.28% −0.66
SWX Southwest Gas Holdings Inc. Sold out 0.00% −0.64
FCX Freeport-McMoran Inc. Reduce -71.7% 0.12% −0.63
ROST Ross Stores Inc. Reduce -52.8% 0.21% −0.63
GLOB Globant SA Reduce -29.6% 0.19% −0.62
NRG NRG Energy Inc. Sold out 0.00% −0.57
AMRZ Amrize Ltd. Reduce -59.5% 0.15% −0.55
SHW The Sherwin-Williams Co. Reduce -11.9% 0.57% −0.54
FIX Comfort Systems USA Inc. Reduce -50.8% 0.33% −0.53
NTNX Nutanix Inc. Class A Reduce -28.4% 0.55% −0.51
TSLA Tesla Inc. Reduce -95.8% 0.01% −0.48
AEP American Electric Power Reduce -16.2% 0.42% −0.47
VST Vistra Corp. Sold out 0.00% −0.47
UAL United Airlines Holdings Inc. Reduce -81.3% 0.08% −0.46
SO The Southern Co. Reduce -7.4% 0.45% −0.45
FE Firstenergy Corp. Sold out 0.00% −0.45
NET Cloudflare Inc. Class A Reduce -74.3% 0.09% −0.45
WBD Warner Bros Discovery Inc. Reduce -45.7% 0.18% −0.45
GE General Electric Sold out 0.00% −0.44
XHB SS SPDR S&P Homebldrs ETF Sold out 0.00% −0.44
CLS Celestica Inc. Sold out 0.00% −0.44
RSP Invesco S&P 500 Equal Weight Sold out 0.00% −0.42
PLNT Planet Fitness Inc. Class A Reduce -15.0% 0.20% −0.42
LITE Lumentum Holdings Inc. Reduce -91.7% 0.02% −0.41
PSKY Paramount Skydance Class B Sold out 0.00% −0.41
SF Stifel Financial Corp. Sold out 0.00% −0.41
AMG Affiliated Managers Group Sold out 0.00% −0.41
KEY Keycorp Reduce -96.6% 0.01% −0.40
JPM JPMorgan Chase & Co. Sold out 0.00% −0.39
FNV Franco-Nevada Corp. Sold out 0.00% −0.39
ZION Zions Bancorp NA Reduce -34.4% 0.29% −0.39
CELH Celsius Holdings Inc. Sold out 0.00% −0.39
VSNT Versant Media Group Inc. Sold out 0.00% −0.38
SOLS Solstice Adv Materials Inc. Sold out 0.00% −0.37
UGI Ugi Corp. Reduce -23.3% 0.24% −0.37
JBLU Jetblue Airways Corp. Sold out 0.00% −0.36
PENN Penn Entertainment Inc. Sold out 0.00% −0.36
VALE Vale SA-SP ADR Sold out 0.00% −0.35

Portfolio Buys Q1 2026 → Q2 2026
SPY SS SPDR S&P 500 ETF Trust-US New 22.11% +22.11
IVV iShares Core S&P 500 ETF Add +264.4% 19.75% +11.03
SPCX Space Exploration Techn Class A New 2.42% +2.42
MU Micron Technology Inc. New 1.09% +1.09
GOOG Alphabet Inc. Class C New 0.77% +0.77
ASML ASML Holding NV-NY Reg SHS New 0.72% +0.72
GNRC Generac Holdings Inc. New 0.58% +0.58
GLW Corning Inc. New 0.45% +0.45
MOS The Mosaic Co. New 0.45% +0.45
USB US Bancorp New 0.37% +0.37
RXT Rackspace Technology Inc. New 0.37% +0.37
ETR Entergy Corp. New 0.37% +0.37
AAP Advance Auto Parts Inc. New 0.37% +0.37
CBRS Cerebras Systems Inc. Class A New 0.36% +0.36
AMZN Amazon.com Inc. Add +176.9% 0.84% +0.35
WFC Wells Fargo & Co. New 0.34% +0.34
PPL PPL Corp. New 0.33% +0.33
AMAT Applied Materials Inc. New 0.31% +0.31
HUT Hut 8 Corp. New 0.31% +0.31
INIO Innio NV New 0.31% +0.31
FRVO Fervo Energy Co. Class A New 0.30% +0.30
MKSI MKS Inc. New 0.30% +0.30
TPG TPG Inc. New 0.29% +0.29
UCTT Ultra Clean Holdings Inc. New 0.28% +0.28
CAT Caterpillar Inc. Add +1623.5% 0.30% +0.28
MWH Solv Energy Inc. Class A Add +738.4% 0.34% +0.28
UNP Union Pacific Corp. New 0.25% +0.25
QNT Quantinuum Inc. Class A New 0.25% +0.25
MMM 3M Co. New 0.25% +0.25
AEE Ameren Corporation New 0.24% +0.24
FAN First Trust Global Wind Ener New 0.23% +0.23
MSM MSC Industrial Direct Co. Class A New 0.22% +0.22
TH Target Hospitality Corp. New 0.22% +0.22
AMD Advanced Micro Devices Add +31.0% 0.43% +0.22
DLR Digital Realty Trust Inc. New 0.22% +0.22
WAL Western Alliance Bancorp New 0.22% +0.22
RBLX Roblox Corp. Class A New 0.22% +0.22
DE Deere & Co. New 0.22% +0.22
ESI Element Solutions Inc. New 0.21% +0.21
CHTR Charter Communications Inc. Class A New 0.21% +0.21
LGN Legence Corp. Class A New 0.21% +0.21
PB Prosperity Bancshares Inc. New 0.20% +0.20
DDOG Datadog Inc. Class A Add +76.0% 0.38% +0.20
OPTU Optimum Communications Inc. Class A Add +414.5% 0.29% +0.20
JBHT Hunt (jb) Transprt SVCS Inc. New 0.19% +0.19
NUE Nucor Corp. Add +219.0% 0.34% +0.19
MSFT Microsoft Corp. Add +123.8% 1.04% +0.19
MAIR Madison Air Solutions Corp. Class A New 0.19% +0.19
GGB Gerdau SA -Spon ADR New 0.18% +0.18
XRX Xerox Holdings Corp. Add +171.8% 0.25% +0.18

Options Activity Q1 2026 → Q2 2026
SPY SS SPDR S&P 500 ETF Trust-US put Sold out 400,000 $260.1Mbefore exit
MU Micron Technology Inc. put Add +330.0% 215,000 $248.2M
IWM iShares Russell 2000 ETF put Reduce -33.3% 600,000 $180.3M
TSLA Tesla Inc. put Add +25.0% 250,000 $105.2M
QQQ Invesco QQQ Trust Series 1 put Add +23.0% 123,000 $90.6M
EWZ iShares MSCI Brazil ETF call New 1,500,000 $51.8M
EWZ iShares MSCI Brazil ETF put New 1,500,000 $51.8M
SMH Vaneck Semiconductor ETF put New 60,000 $39.4M
MSFT Microsoft Corp. call New 100,000 $37.3M
IWM iShares Russell 2000 ETF call Sold out 150,000 $37.2Mbefore exit
PLNT Planet Fitness Inc. Class A call New 700,000 $36.5M
SOXX iShares Semiconductor ETF put New 50,000 $32.0M
IGV iShares Expanded Tech-Softwa call Sold out 400,000 $32.0Mbefore exit
COF Capital One Financial Corp. call Sold out 150,000 $27.4Mbefore exit
QCOM Qualcomm Inc. call New 100,000 $18.5M
NTNX Nutanix Inc. Class A call Sold out 400,000 $15.2Mbefore exit
QXO Qxo Inc. call New 500,000 $8.6M
CPRI Capri Holdings Ltd. call Sold out 400,000 $7.0Mbefore exit
OPTU Optimum Communications Inc. Class A call New 4,000,000 $5.8M
PATH Uipath Inc. Class A call Sold out 500,000 $5.5Mbefore exit
VRNS Varonis Systems Inc. call Sold out 200,000 $4.3Mbefore 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