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BW Gestao de Investimentos Ltda.

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13F filer, CIK 1568280, SAO PAULO, Brazil

BW Gestao de Investimentos Ltda. reported $2,287,003,824 across 118 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-13. Its ten largest share positions make up 41.03% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001568280-25-000008

Period
2025-09-30
Reported value
$2.29B
Holdings
118
Top 10 weight
41.03%
New
50
Sold out
38

Largest buys vs the previous quarter

SecurityShares changeApprox. value
IVVnew+155,000$104M
PATHadded+2,620,000$35.1M
EWZnew+832,800$25.8M
DKSnew+104,428$23.2M
AAnew+690,000$22.7M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
KREexited-489,562-$29.1M
XLFexited-387,400-$20.3M
AMZNreduced-86,076-$18.9M
BXreduced-105,800-$18.1M
MSFTreduced-33,629-$17.4M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001568280-25-000008, largest first. % of portfolio is the value over $1,320,901,972, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
IVVISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,171,290 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 155,000 shares 155,000$104M7.85%newTimeline
THCTENET HEALTHCARE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 293,816 shares; 2024Q4: 440,218 shares; 2025Q1: 529,785 shares; 2025Q2: 429,855 shares; 2025Q3: 417,995 shares 417,995$84.9M6.43%-11,860Timeline
RBARB GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 454,940 shares; 2024Q4: 431,685 shares; 2025Q1: 550,298 shares; 2025Q2: 745,298 shares; 2025Q3: 685,556 shares 685,556$74.3M5.62%-59,742Timeline
PATHUIPATH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,067,700 shares; 2025Q2: 1,092,150 shares; 2025Q3: 3,712,150 shares 3,712,150$49.7M3.76%+2,620,000Timeline
FOURSHIFT4 PMTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 140,000 shares; 2024Q4: 68,285 shares; 2025Q1: 336,000 shares; 2025Q2: 421,927 shares; 2025Q3: 632,838 shares 632,838$49M3.71%+210,911Timeline
XLVSELECT SECTOR SPDR TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 236,292 shares; 2025Q1: 11,292 shares; 2025Q2: 229,000 shares; 2025Q3: 301,000 shares 301,000$41.9M3.17%+72,000Timeline
NTNXNUTANIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 287,907 shares; 2024Q4: 236,071 shares; 2025Q1: 354,807 shares; 2025Q2: 508,556 shares; 2025Q3: 556,654 shares 556,654$41.4M3.13%+48,098Timeline
PRGOPERRIGO CO PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 518,595 shares; 2024Q4: 1,097,192 shares; 2025Q1: 1,298,444 shares; 2025Q2: 1,469,524 shares; 2025Q3: 1,582,119 shares 1,582,119$35.2M2.67%+112,595Timeline
ECLECOLAB INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 53,455 shares; 2024Q4: 67,855 shares; 2025Q1: 111,505 shares; 2025Q2: 127,505 shares; 2025Q3: 117,824 shares 117,824$32.3M2.44%-9,681Timeline
ALITALIGHT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,829,638 shares; 2025Q1: 3,592,127 shares; 2025Q2: 4,991,011 shares; 2025Q3: 9,069,880 shares 9,069,880$29.6M2.24%+4,078,869Timeline
EWZISHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 760,000 shares; 2025Q1: 2,500,000 shares; 2025Q2: not reported; 2025Q3: 832,800 shares 832,800$25.8M1.95%newTimeline
CPRICAPRI HOLDINGS LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 362,420 shares; 2024Q4: 102,420 shares; 2025Q1: 1,152,420 shares; 2025Q2: 1,228,299 shares; 2025Q3: 1,267,373 shares 1,267,373$25.2M1.91%+39,074Timeline
CVSCVS HEALTH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 180,000 shares; 2025Q1: 150,000 shares; 2025Q2: 210,000 shares; 2025Q3: 310,000 shares 310,000$23.4M1.77%+100,000Timeline
DKSDICKS SPORTING GOODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 104,428 shares 104,428$23.2M1.76%newTimeline
BIRKBIRKENSTOCK HOLDING PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 199,425 shares; 2024Q4: 401,734 shares; 2025Q1: 348,225 shares; 2025Q2: 530,574 shares; 2025Q3: 506,075 shares 506,075$22.9M1.73%-24,499Timeline
AAALCOA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 690,000 shares 690,000$22.7M1.72%newTimeline
EXEEXPAND ENERGY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 45,332 shares; 2025Q1: not reported; 2025Q2: 45,600 shares; 2025Q3: 212,249 shares 212,249$22.5M1.71%+166,649Timeline
GLOBGLOBANT S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 132,000 shares; 2024Q4: 118,100 shares; 2025Q1: 183,200 shares; 2025Q2: 427,828 shares; 2025Q3: 381,956 shares 381,956$21.9M1.66%-45,872Timeline
COPXGLOBAL X FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 190,001 shares; 2025Q2: not reported; 2025Q3: 359,999 shares 359,999$21.5M1.63%newTimeline
OCOWENS CORNING NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 144,000 shares 144,000$20.4M1.54%newTimeline
FTAIFTAI AVIATION LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 63,610 shares; 2025Q3: 121,347 shares 121,347$20.2M1.53%+57,737Timeline
VRNSVARONIS SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 319,751 shares 319,751$18.4M1.39%newTimeline
EQTEQT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 113,366 shares; 2025Q1: 114,001 shares; 2025Q2: 95,001 shares; 2025Q3: 333,013 shares 333,013$18.1M1.37%+238,012Timeline
WIXWIX COM LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 88,000 shares 88,000$15.6M1.18%newTimeline
GFRGREENFIRE RES LTD NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 659,819 shares; 2024Q4: 930,592 shares; 2025Q1: 1,683,625 shares; 2025Q2: 3,296,823 shares; 2025Q3: 3,271,730 shares 3,271,730$15.1M1.14%-25,093Timeline
AERAERCAP HOLDINGS NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 279,045 shares; 2024Q4: 279,045 shares; 2025Q1: 189,045 shares; 2025Q2: 194,045 shares; 2025Q3: 121,043 shares 121,043$14.6M1.11%-73,002Timeline
TECKTECK RESOURCES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 105,000 shares; 2024Q4: 69,010 shares; 2025Q1: 103,990 shares; 2025Q2: not reported; 2025Q3: 323,600 shares 323,600$14.2M1.08%newTimeline
PENNPENN ENTERTAINMENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 700,000 shares; 2025Q2: 726,182 shares; 2025Q3: 726,182 shares 726,182$14M1.06%0Timeline
KWEBKRANESHARES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 339,000 shares; 2025Q2: 586,800 shares; 2025Q3: 323,100 shares 323,100$13.6M1.03%-263,700Timeline
KVUEKENVUE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 820,760 shares 820,760$13.3M1.01%newTimeline
IFFINTERNATIONAL FLAVORS&FRAGRAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 128,225 shares; 2025Q3: 215,555 shares 215,555$13.3M1%+87,330Timeline
NRGNRG ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 22,800 shares; 2025Q2: 152,000 shares; 2025Q3: 80,000 shares 80,000$13M0.98%-72,000Timeline
NOGNORTHERN OIL & GAS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 467,641 shares; 2025Q2: 517,641 shares; 2025Q3: 517,641 shares 517,641$12.8M0.97%0Timeline
CINTCI&T INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,235,212 shares; 2024Q4: 2,699,741 shares; 2025Q1: 2,639,839 shares; 2025Q2: 2,882,650 shares; 2025Q3: 2,452,677 shares 2,452,677$12.6M0.96%-429,973Timeline
AMTMAMENTUM HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 394,400 shares; 2025Q2: 715,065 shares; 2025Q3: 511,477 shares 511,477$12.2M0.93%-203,588Timeline
PLNTPLANET FITNESS MASTER ISSUERQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 90,600 shares; 2024Q4: 30,000 shares; 2025Q1: not reported; 2025Q2: 85,061 shares; 2025Q3: 115,061 shares 115,061$11.9M0.9%+30,000Timeline
GTGOODYEAR TIRE & RUBR COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 893,370 shares; 2025Q1: 2,125,666 shares; 2025Q2: 2,104,785 shares; 2025Q3: 1,568,436 shares 1,568,436$11.7M0.89%-536,349Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 27,823 shares; 2024Q4: 42,252 shares; 2025Q1: 40,106 shares; 2025Q2: 55,685 shares; 2025Q3: 22,056 shares 22,056$11.4M0.86%-33,629Timeline
CCJCAMECO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 7,332 shares; 2025Q1: not reported; 2025Q2: 40,000 shares; 2025Q3: 135,000 shares 135,000$11.3M0.86%+95,000Timeline
CLVTCLARIVATE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,036,233 shares; 2024Q4: 3,273,175 shares; 2025Q1: 3,273,175 shares; 2025Q2: 2,865,021 shares; 2025Q3: 2,865,021 shares 2,865,021$11M0.83%0Timeline
JEFJEFFERIES FINANCIAL GROUP INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 76,000 shares; 2025Q3: 160,000 shares 160,000$10.5M0.79%+84,000Timeline
EATBRINKER INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 15,200 shares; 2025Q2: 22,800 shares; 2025Q3: 80,000 shares 80,000$10.1M0.77%+57,200Timeline
TERTERADYNE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 72,895 shares 72,895$10M0.76%newTimeline
JBSJBS N.V.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 602,000 shares; 2025Q3: 662,000 shares 662,000$9.88M0.75%+60,000Timeline
HLIHOULIHAN LOKEY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 30,400 shares; 2025Q3: 48,000 shares 48,000$9.86M0.75%+17,600Timeline
HUTHUT 8 CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 280,000 shares 280,000$9.75M0.74%newTimeline
EVEXEVE HLDG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 2,462,421 shares 2,462,421$9.38M0.71%newTimeline
HPEHEWLETT PACKARD ENTERPRISE CQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 33,800 shares; 2024Q4: 113,366 shares; 2025Q1: not reported; 2025Q2: 114,000 shares; 2025Q3: 360,000 shares 360,000$8.84M0.67%+246,000Timeline
ONONON HLDG AGQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 30,400 shares; 2025Q2: 228,000 shares; 2025Q3: 200,000 shares 200,000$8.47M0.64%-28,000Timeline
KSAISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 200,000 shares 200,000$8.12M0.61%newTimeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 34,520 shares; 2024Q4: 59,119 shares; 2025Q1: 50,682 shares; 2025Q2: 121,496 shares; 2025Q3: 35,420 shares 35,420$7.78M0.59%-86,076Timeline
WCNWASTE CONNECTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 41,461 shares; 2024Q4: 54,921 shares; 2025Q1: 38,706 shares; 2025Q2: 49,458 shares; 2025Q3: 41,630 shares 41,630$7.32M0.55%-7,828Timeline
CWCURTISS WRIGHT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 7,600 shares; 2025Q3: 12,000 shares 12,000$6.52M0.49%+4,400Timeline
NGDNEW GOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 880,000 shares 880,000$6.32M0.48%newTimeline
MNDYMONDAY COM LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 32,520 shares 32,520$6.3M0.48%newTimeline
EPAMEPAM SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 41,300 shares; 2025Q2: 41,300 shares; 2025Q3: 41,300 shares 41,300$6.23M0.47%0Timeline
CLSCELESTICA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 48,800 shares; 2024Q4: 60,742 shares; 2025Q1: 22,800 shares; 2025Q2: 53,200 shares; 2025Q3: 24,000 shares 24,000$5.91M0.45%-29,200Timeline
RRCRANGE RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 18,999 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 154,967 shares 154,967$5.83M0.44%newTimeline
ARANTERO RESOURCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 37,999 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 171,601 shares 171,601$5.76M0.44%newTimeline
BXBLACKSTONE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 81,866 shares; 2024Q4: 20,166 shares; 2025Q1: 120,716 shares; 2025Q2: 139,230 shares; 2025Q3: 33,430 shares 33,430$5.71M0.43%-105,800Timeline
RBLXROBLOX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 22,800 shares; 2025Q3: 40,000 shares 40,000$5.54M0.42%+17,200Timeline
LTMLATAM AIRLINES GROUP SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 120,000 shares 120,000$5.43M0.41%newTimeline
NINISOURCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 37,922 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 120,000 shares 120,000$5.2M0.39%newTimeline
IAGIAMGOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 400,000 shares 400,000$5.17M0.39%newTimeline
ANFABERCROMBIE & FITCH COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 60,000 shares 60,000$5.13M0.39%newTimeline
AEMAGNICO EAGLE MINES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 15,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 22,800 shares; 2025Q3: 30,000 shares 30,000$5.06M0.38%+7,200Timeline
NUNU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 300,000 shares 300,000$4.8M0.36%newTimeline
FCXFREEPORT MCMORAN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 38,000 shares; 2025Q3: 120,000 shares 120,000$4.71M0.36%+82,000Timeline
YPFYPF SOCIEDAD ANONIMAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 191,000 shares 191,000$4.64M0.35%newTimeline
CCLCARNIVAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 190,001 shares; 2025Q2: 379,999 shares; 2025Q3: 160,000 shares 160,000$4.63M0.35%-219,999Timeline
AUGOAURA MINERALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 111,729 shares 111,729$4.16M0.31%newTimeline
EISISHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 40,000 shares 40,000$4.01M0.3%newTimeline
ALBALBEMARLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 90,120 shares; 2024Q4: 70,530 shares; 2025Q1: 116,733 shares; 2025Q2: not reported; 2025Q3: 46,930 shares 46,930$3.81M0.29%newTimeline
STNESTONECO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,850,000 shares; 2024Q4: 1,849,325 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 200,000 shares 200,000$3.78M0.29%newTimeline
EEFTEURONET WORLDWIDE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 42,744 shares 42,744$3.75M0.28%newTimeline
BBARRICK MNG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 100,000 shares 100,000$3.28M0.25%newTimeline
ELFE L F BEAUTY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 45,316 shares; 2025Q1: not reported; 2025Q2: 34,200 shares; 2025Q3: 24,000 shares 24,000$3.18M0.24%-10,200Timeline
VTEXVTEXQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 53,300 shares; 2025Q1: 53,300 shares; 2025Q2: 746,757 shares; 2025Q3: 700,757 shares 700,757$3.07M0.23%-46,000Timeline
CVNACARVANA COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 3,800 shares; 2025Q3: 8,000 shares 8,000$3.02M0.23%+4,200Timeline
CENXCENTURY ALUM COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 38,001 shares; 2025Q2: not reported; 2025Q3: 100,000 shares 100,000$2.94M0.22%newTimeline
ASAMER SPORTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 80,000 shares 80,000$2.78M0.21%newTimeline
SHWSHERWIN WILLIAMS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,967 shares; 2024Q4: 8,164 shares; 2025Q1: 8,164 shares; 2025Q2: 12,914 shares; 2025Q3: 7,814 shares 7,814$2.71M0.2%-5,100Timeline
SRADSPORTRADAR GROUP AGQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 30,400 shares; 2025Q2: 247,000 shares; 2025Q3: 100,002 shares 100,002$2.69M0.2%-146,998Timeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,966 shares; 2024Q4: 7,966 shares; 2025Q1: 7,966 shares; 2025Q2: 7,966 shares; 2025Q3: 7,966 shares 7,966$2.03M0.15%0Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 5,786 shares 5,786$1.98M0.15%newTimeline
EOGEOG RES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 15,488 shares 15,488$1.74M0.13%newTimeline
CTRACOTERRA ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 71,014 shares 71,014$1.68M0.13%newTimeline
TTMITTM TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 24,000 shares 24,000$1.38M0.1%newTimeline
BTDRBITDEER TECHNOLOGIES GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 188,692 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 80,001 shares 80,001$1.37M0.1%newTimeline
CNNECANNAE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 71,015 shares 71,015$1.3M0.1%newTimeline
CNXCNX RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 38,789 shares 38,789$1.25M0.09%newTimeline
CRKCOMSTOCK RES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 57,682 shares 57,682$1.14M0.09%newTimeline
OPENOPENDOOR TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 123,400 shares 123,400$983K0.07%newTimeline
TSLATESLA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 19,700 shares; 2025Q2: not reported; 2025Q3: 1,890 shares 1,890$841K0.06%newTimeline
CPRTCOPART INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 18,655 shares; 2025Q3: 18,655 shares 18,655$839K0.06%0Timeline
LOWLOWES COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,725 shares; 2024Q4: 6,965 shares; 2025Q1: 6,965 shares; 2025Q2: 6,965 shares; 2025Q3: 3,215 shares 3,215$808K0.06%-3,750Timeline
GPORGULFPORT ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,311 shares 4,311$780K0.06%newTimeline
TENBTENABLE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 22,047 shares 22,047$643K0.05%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
IWMISHARES TR SHSput1,100,000$266M0
TSLATESLA INC COMput480,000$213M+386,500
SPYSTATE STR SPDR S&P 500 ETF T SHSput200,000$133M-390,000
ARKKARK ETF TR INNOVATION ETFput1,000,000$86.3M0
XRTSPDR SERIES TRUST ETFput600,000$51.7M+300,000
PCGPG&E CORP Stockcall2,800,000$42.2M0
ITBISHARES TR US HOME CONS ETFput300,000$32.2M+100,000
XLVSELECT SECTOR SPDR TR SHSput230,000$32Mnew
KVUEKENVUE INC COMcall1,600,000$26M+1,100,000
EIXEDISON INTL Stockcall468,000$25.9M0
KRESPDR SERIES TRUST ST STR SP REGBNKput300,000$19M0
PATHUIPATH INC CL Acall1,000,000$13.4Mnew
HUTHUT 8 CORP COMcall300,000$10.4Mnew
GTGOODYEAR TIRE & RUBR CO COMcall600,000$4.49M0
ALITALIGHT INC COM CL Acall981,000$3.2M-19,000
ARISARIS MINING CORPORATION COMput200,000$1.96Mnew
THCTENET HEALTHCARE CORP Stockcall8,000$1.62M-292,000
UECURANIUM ENERGY CORP Stockput100,000$1.33Mnew
SGMLSIGMA LITHIUM CORPORATION Stockcall145,200$931K-54,800
SGMLSIGMA LITHIUM CORPORATION Stockput100,000$641Knew

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
IWMISHARES TR300,000$64.7Mcall
SPYSTATE STR SPDR S&P 500 ETF T100,000$61.8Mcall
EWZISHARES INC2,000,000$57.7Mcall
QQQINVESCO QQQ TR100,000$55.2Mput
CVSCVS HEALTH CORP500,000$34.5Mcall
ARKKARK ETF TR450,000$31.6Mcall
FOURSHIFT4 PMTS INC300,000$29.7Mcall
KRESPDR SERIES TRUST489,562$29.1Mshares
HYGISHARES TR305,000$24.6Mput
XLFSELECT SECTOR SPDR TR387,400$20.3Mshares
NTNXNUTANIX INC260,000$19.9Mcall
METAMETA PLATFORMS INC22,700$16.8Mshares
AVGOBROADCOM INC53,200$14.7Mshares
CALFPACER FDS TR291,259$11.6Mshares
GOOGLALPHABET INC64,071$11.3Mshares
PENNPENN ENTERTAINMENT INC600,000$10.7Mcall
QQQINVESCO QQQ TR18,764$10.4Mshares
FLUTFLUTTER ENTMT PLC30,400$8.69Mshares
XLFSELECT SECTOR SPDR TR150,000$7.86Mcall
CPACOPA HOLDINGS SA50,000$5.5Mshares
DNNDENISON MINES CORP2,930,000$5.33Mshares
AMDADVANCED MICRO DEVICES INC34,200$4.85Mshares
PAASPAN AMERN SILVER CORP151,999$4.32Mshares
XPXP INC204,177$4.12Mshares
AGIALAMOS GOLD INC152,000$4.04Mshares
MELIMERCADOLIBRE INC1,520$3.97Mshares
CYBERARK SOFTWARE LTD/ISRAELCYBERARK SOFTWARE LTD/ISRAEL7,600$3.09Mshares
NXENEXGEN ENERGY LTD388,200$2.69Mshares
UALUNITED AIRLS HLDGS INC30,400$2.42Mshares
IEIVANHOE ELECTRIC INC253,223$2.3Mshares
ECECOPETROL S A114,000$1.01Mshares
EENI SPA25,000$810Kshares
UECURANIUM ENERGY CORP100,000$680Kshares
MPTMEDICAL PROPERTIES TRUST INC120,000$517Kshares
RIGTRANSOCEAN LTD150,000$388Kshares
EDNEMPRESA DIST Y COMERCIAL NOR14,558$386Kshares
CIBGRUPO CIBEST SA7,600$351Kshares
VISTVISTA ENERGY S.A.B. DE C.V.7,332$351Kshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001568280-25-000008 base2025-11-13acceptance time not in the bulk data set