BW GESTAO DE INVESTIMENTOS LTDA
Q3 2025 Form 13-F
SAO PAULO, BRAZIL
CIK 0001568280
· Institutional investment manager
Consolidated report · includes
1 manager
since Q4 2024
$2.3B Reported Value Total
Reported value
$2.3B
Quarter over quarter
-2.4%
Holdings
98
Top-10 concentration
48.6%
Filing Structure
Reports holdings for
- Wealth High Governance Capital Ltda · File #028-24821 · since Q4 2024
Key People
Named on the latest Form 13-F filing — not necessarily an owner
Pedro Frade De Andrade
Chief Compliance Officer
Filing Navigation
13F Metrics
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Q3 2025 13F record
Q3 2025 13F filing summary
| Period of report | September 30, 2025 |
|---|---|
| Filed | November 13, 2025 |
| Form | 13F-HR |
| Reported value | $2.3B |
| Positions | 98 |
| Change in reported value | -2.8% |
| New positions | 44 |
| Exited positions | 27 |
| Position turnover | 56.8% |
| Top-10 concentration | 48.6% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q2 2026 13F
Filed Aug 14, 2026
|
294 | $5.1B |
|
Q1 2026 13F
Filed Apr 28, 2026
|
258 | $3.0B |
|
Q4 2025 13F
Filed Feb 10, 2026
|
186 | $4.4B |
|
Q3 2025 13F
Filed Nov 13, 2025
|
98 | $2.3B |
|
Q2 2025 13F
Filed Aug 14, 2025
|
81 | $2.4B |
|
Q1 2025 13F
Filed May 15, 2025
|
79 | $3.2B |
|
Q4 2024 13F
Filed Feb 14, 2025
|
109 | $3.1B |
|
Q3 2024 13F
Filed Nov 14, 2024
|
64 | $1.4B |
|
Q2 2024 13F
Filed Aug 1, 2024
|
60 | $1.8B |
|
Q1 2024 13F
Filed May 2, 2024
|
62 | $3.4B |
|
Q4 2023 13F
Filed Feb 9, 2024
|
58 | $3.1B |
|
Q3 2023 13F
Filed Oct 24, 2023
|
58 | $853.0M |
|
Q2 2023 13F
Filed Jul 26, 2023
|
59 | $676.5M |
|
Q1 2023 13F
Filed Apr 27, 2023
|
50 | $701.0M |
|
Q4 2022 13F
Filed Feb 9, 2023
|
46 | $669.8M |
|
Q3 2022 13F
Filed Oct 25, 2022
|
39 | $428.4M |
|
Q2 2022 13F
Filed Aug 2, 2022
|
40 | $433.1M |
|
Q1 2022 13F
Filed May 4, 2022
|
46 | $471.9M |
|
Q4 2021 13F
Filed Feb 3, 2022
|
36 | $343.6M |
|
Q3 2021 13F
Filed Nov 1, 2021
|
45 | $328.7M |
31 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q3 2025
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | IWM P ISHARES TR | $266.2M | 11.64% |
| 2 | TSLA P TESLA INC | $213.5M | 9.33% |
| 3 | SPY P SPDR S&P 500 ETF TR | $133.2M | 5.83% |
| 4 | IVV ISHARES TR | $103.7M | 4.54% |
| 5 | ARKK P ARK ETF TR | $86.3M | 3.77% |
| 6 | THC TENET HEALTHCARE CORP | $84.9M | 3.71% |
| 7 | RBA RB GLOBAL INC | $74.3M | 3.25% |
| 8 | XRT P SPDR SERIES TRUST | $51.7M | 2.26% |
| 9 | PATH UIPATH INC | $49.7M | 2.17% |
| 10 | FOUR SHIFT4 PMTS INC | $49.0M | 2.14% |
| 11 | PCG C PG&E CORP | $42.2M | 1.85% |
| 12 | XLV SELECT SECTOR SPDR TR | $41.9M | 1.83% |
| 13 | NTNX NUTANIX INC | $41.4M | 1.81% |
| 14 | PRGO PERRIGO CO PLC | $35.2M | 1.54% |
| 15 | ECL ECOLAB INC | $32.3M | 1.41% |
| 16 | ITB P ISHARES TR | $32.2M | 1.41% |
| 17 | XLV P SELECT SECTOR SPDR TR | $32.0M | 1.4% |
| 18 | ALIT ALIGHT INC | $29.6M | 1.29% |
| 19 | KVUE C KENVUE INC | $26.0M | 1.14% |
| 20 | EIX C EDISON INTL | $25.9M | 1.13% |
Values as reported on the Q3 2025 Form 13F. Every position is in the holdings table below.