BW GESTAO DE INVESTIMENTOS LTDA.

Filed: 10/24/2023ACC: 0001568280-23-000009

📋 What this filing means

BW GESTAO DE INVESTIMENTOS LTDA. filed this quarterly 13F‑HR report disclosing 117 equity positions with a total reported market value of $853.00M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

117

Positions

$853.00M

Total AUM (reported)

17.73M

Total Shares

Allocation by class

XLU-USAA$83.38M9.8%

HYG-USAA$75.19M8.8%

XLP-USAA$41.33M4.8%

TMUS-USAA$40.99M4.8%

ORCL-USAA$36.17M4.2%

THC-USAA$30.89M3.6%

IWR-USAA$28.17M3.3%

Portfolio Concentration

Top 3$199.90M23.4%

4–10$205.83M24.1%

11–25$255.36M29.9%

Rest$191.91M22.5%

Top 3 weight

23.4%

Top 10 weight

47.6%

Voting Authority Distribution

Total shares with voting rights: 17.73M

Sole

Full voting authority

17.73M

% of voting shares100.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

0.00

% of voting shares0.0%

Investment Discretion (by position count)

Sole117

Shared0

Other0

Dominant voting typeSole · 100.0% of voting shares

Institutional Holdings117

Rows:

UTILITIES SELECT SECTOR SPDR

SOLE

XLU-USAA

Shares1.41M

TypeSH

Market value$83.38M

9.77%

Sole

1.41M

Shared

0.00

None

0.00

ISHARES IBOXX HIGH YLD CORP

SOLE

HYG-USAA

Shares1.02M

TypeSH

Market value$75.19M

8.82%

Sole

1.02M

Shared

0.00

None

0.00

CONSUMER STAPLES SPDR

SOLE

XLP-USAA

Shares600.64K

TypeSH

Market value$41.33M

4.85%

Sole

600.64K

Shared

0.00

None

0.00

T-MOBILE US INC

SOLE

TMUS-USAA

Shares292.66K

TypeSH

Market value$40.99M

4.81%

Sole

292.66K

Shared

0.00

None

0.00

ORACLE CORP

SOLE

ORCL-USAA

Shares341.53K

TypeSH

Market value$36.17M

4.24%

Sole

341.53K

Shared

0.00

None

0.00

TENET HEALTHCARE CORP

SOLE

THC-USAA

Shares468.87K

TypeSH

Market value$30.89M

3.62%

Sole

468.87K

Shared

0.00

None

0.00

ISHARES RUSSELL MID-CAP ETF

SOLE

IWR-USAA

Shares406.85K

TypeSH

Market value$28.17M

3.30%

Sole

406.85K

Shared

0.00

None

0.00

NUTANIX INC - A

SOLE

NTNX-USAA

Shares725.79K

TypeSH

Market value$25.32M

2.97%

Sole

725.79K

Shared

0.00

None

0.00

SCHWAB US DVD EQUITY ETF

SOLE

SCHD-USAA

Shares313.70K

TypeSH

Market value$22.20M

2.60%

Sole

313.70K

Shared

0.00

None

0.00

KENVUE INC

SOLE

KVUE-USAA

Shares1.10M

TypeSH

Market value$22.09M

2.59%

Sole

1.10M

Shared

0.00

None

0.00

KRANESHARES CSI CHINA INTERN

SOLE

KWEB-USAA

Shares780K

TypeSH

Market value$21.35M

2.50%

Sole

780K

Shared

0.00

None

0.00

CROWN CASTLE INC

SOLE

CCI-USAA

Shares228.88K

TypeSH

Market value$21.06M

2.47%

Sole

228.88K

Shared

0.00

None

0.00

ISHARES MSCI EMERGING MARKETS

SOLE

EEM-USAA

Shares550.08K

TypeSH

Market value$20.88M

2.45%

Sole

550.08K

Shared

0.00

None

0.00

ISHARES EXPANDED TECH-SOFTWARE

SOLE

IGV-USAA

Shares60.39K

TypeSH

Market value$20.61M

2.42%

Sole

60.39K

Shared

0.00

None

0.00

BJ'S WHOLESALE CLUB HOLDINGS

SOLE

BJ-USAA

Shares277.34K

TypeSH

Market value$19.79M

2.32%

Sole

277.34K

Shared

0.00

None

0.00

ISHARES RUSSELL 2000 GROWTH ET

SOLE

IWO-USAA

Shares80.54K

TypeSH

Market value$18.05M

2.12%

Sole

80.54K

Shared

0.00

None

0.00

BLACKSTONE INC

SOLE

BX-USAA

Shares164.99K

TypeSH

Market value$17.68M

2.07%

Sole

164.99K

Shared

0.00

None

0.00

CROCS INC

SOLE

CROX-USAA

Shares200K

TypeSH

Market value$17.65M

2.07%

Sole

200K

Shared

0.00

None

0.00

PHILIP MORRIS INTERNATIONAL

SOLE

PM-USAA

Shares175K

TypeSH

Market value$16.20M

1.90%

Sole

175K

Shared

0.00

None

0.00

LOWE'S COS INC

SOLE

LOW-USAA

Shares77.66K

TypeSH

Market value$16.14M

1.89%

Sole

77.66K

Shared

0.00

None

0.00

SHERWIN-WILLIAMS CO/THE

SOLE

SHW-USAA

Shares59.71K

TypeSH

Market value$15.23M

1.79%

Sole

59.71K

Shared

0.00

None

0.00

SUZANO SA - SPON ADR

SOLE

SUZ-USAA

Shares1.27M

TypeSH

Market value$13.66M

1.60%

Sole

1.27M

Shared

0.00

None

0.00

WASTE CONNECTIONS INC

SOLE

WCN-USAA

Shares100.05K

TypeSH

Market value$13.44M

1.58%

Sole

100.05K

Shared

0.00

None

0.00

RB GLOBAL INC

SOLE

RBA-USAA

Shares197.76K

TypeSH

Market value$12.36M

1.45%

Sole

197.76K

Shared

0.00

None

0.00

SKECHERS USA INC-CL A

SOLE

SKX-USAA

Shares230K

TypeSH

Market value$11.26M

1.32%

Sole

230K

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole
UTILITIES SELECT SECTOR SPDRSOLE	XLU-USAA	1.41M	SH	$83.38M 9.77%	1.41M
ISHARES IBOXX HIGH YLD CORPSOLE	HYG-USAA	1.02M	SH	$75.19M 8.82%	1.02M
CONSUMER STAPLES SPDRSOLE	XLP-USAA	600.64K	SH	$41.33M 4.85%	600.64K
T-MOBILE US INCSOLE	TMUS-USAA	292.66K	SH	$40.99M 4.81%	292.66K
ORACLE CORPSOLE	ORCL-USAA	341.53K	SH	$36.17M 4.24%	341.53K
TENET HEALTHCARE CORPSOLE	THC-USAA	468.87K	SH	$30.89M 3.62%	468.87K
ISHARES RUSSELL MID-CAP ETFSOLE	IWR-USAA	406.85K	SH	$28.17M 3.30%	406.85K
NUTANIX INC - ASOLE	NTNX-USAA	725.79K	SH	$25.32M 2.97%	725.79K
SCHWAB US DVD EQUITY ETFSOLE	SCHD-USAA	313.70K	SH	$22.20M 2.60%	313.70K
KENVUE INCSOLE	KVUE-USAA	1.10M	SH	$22.09M 2.59%	1.10M
KRANESHARES CSI CHINA INTERNSOLE	KWEB-USAA	780K	SH	$21.35M 2.50%	780K
CROWN CASTLE INCSOLE	CCI-USAA	228.88K	SH	$21.06M 2.47%	228.88K
ISHARES MSCI EMERGING MARKETSSOLE	EEM-USAA	550.08K	SH	$20.88M 2.45%	550.08K
ISHARES EXPANDED TECH-SOFTWARESOLE	IGV-USAA	60.39K	SH	$20.61M 2.42%	60.39K
BJ'S WHOLESALE CLUB HOLDINGSSOLE	BJ-USAA	277.34K	SH	$19.79M 2.32%	277.34K
ISHARES RUSSELL 2000 GROWTH ETSOLE	IWO-USAA	80.54K	SH	$18.05M 2.12%	80.54K
BLACKSTONE INCSOLE	BX-USAA	164.99K	SH	$17.68M 2.07%	164.99K
CROCS INCSOLE	CROX-USAA	200K	SH	$17.65M 2.07%	200K
PHILIP MORRIS INTERNATIONALSOLE	PM-USAA	175K	SH	$16.20M 1.90%	175K
LOWE'S COS INCSOLE	LOW-USAA	77.66K	SH	$16.14M 1.89%	77.66K
SHERWIN-WILLIAMS CO/THESOLE	SHW-USAA	59.71K	SH	$15.23M 1.79%	59.71K
SUZANO SA - SPON ADRSOLE	SUZ-USAA	1.27M	SH	$13.66M 1.60%	1.27M
WASTE CONNECTIONS INCSOLE	WCN-USAA	100.05K	SH	$13.44M 1.58%	100.05K
RB GLOBAL INCSOLE	RBA-USAA	197.76K	SH	$12.36M 1.45%	197.76K
SKECHERS USA INC-CL ASOLE	SKX-USAA	230K	SH	$11.26M 1.32%	230K

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