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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
13F HOLDINGS REPORT

BW Gestao de Investimentos Ltda.

Quarter ended Q4 2023 · Filed October 24, 2023 · Accession 0001568280-23-000009

Total Value
$853.0M
Positions
119
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (118)

#IssuerTicker / CUSIPSharesValue% of Filing
1UTILITIES SELECT SECTOR SPDR81369Y8861,414,840$83.4M9.77%
2ISHARES IBOXX HIGH YLD CORP4642885131,020,000$75.2M8.82%
3CONSUMER STAPLES SPDR81369Y308600,640$41.3M4.85%
4T-MOBILE US INCTMUSZ292,663$41.0M4.81%
5ORACLE CORPORCL-PD341,531$36.2M4.24%
6TENET HEALTHCARE CORPTHC468,871$30.9M3.62%
7ISHARES RUSSELL MID-CAP ETF464287499406,850$28.2M3.30%
8NUTANIX INC - ANTNX725,795$25.3M2.97%
9SCHWAB US DVD EQUITY ETF808524797313,705$22.2M2.60%
10KENVUE INCKVUE1,100,000$22.1M2.59%
11KRANESHARES CSI CHINA INTERN500767306780,000$21.3M2.50%
12CROWN CASTLE INCCCI228,878$21.1M2.47%
13ISHARES MSCI EMERGING MARKETS464287234550,075$20.9M2.45%
14ISHARES EXPANDED TECH-SOFTWARE46428751560,390$20.6M2.42%
15BJ'S WHOLESALE CLUB HOLDINGS05550J101277,339$19.8M2.32%
16ISHARES RUSSELL 2000 GROWTH ET46428764880,540$18.1M2.12%
17BLACKSTONE INCBX164,990$17.7M2.07%
18CROCS INCCROX200,000$17.6M2.07%
19PHILIP MORRIS INTERNATIONAL718172109175,000$16.2M1.90%
20LOWE'S COS INC54866110777,660$16.1M1.89%
21SHERWIN-WILLIAMS CO/THESHW59,712$15.2M1.79%
22SUZANO SA - SPON ADRSUZ1,271,000$13.7M1.60%
23RB GLOBAL INCRBA197,759$12.4M1.45%
24SKECHERS USA INC-CL A830566105230,000$11.3M1.32%
25AMERICAN TOWER CORP03027X10065,000$10.7M1.25%
26WASTE CONNECTIONS INCWCN70,052$9.4M1.10%
27ISHARES 7-10 YEAR TREASURY BON464287440101,755$9.3M1.09%
28VANGUARD VALUE ETF92290874466,400$9.2M1.07%
29ARDAGH METAL PACKAGING SAAMPWF2,783,639$8.7M1.02%
30SPDR S&P RETAIL ETF78464A714130,210$7.9M0.93%
31BLOOMIN' BRANDS INCBLMN317,679$7.8M0.92%
32MICROSOFT CORPMSFT24,633$7.8M0.91%
33CONSUMER DISCRETIONARY SELT81369Y40742,625$6.9M0.80%
34VANECK GOLD MINERS ETF92189F106226,935$6.1M0.72%
35NIKE INC -CL BNKE57,627$5.5M0.65%
36ECOLAB INCECL31,345$5.3M0.62%
37TESLA INCTSLA20,000$5.0M0.59%
38STONECO LTD-ASTNE445,600$4.8M0.56%
39LINDE PLCLIN12,500$4.7M0.55%
40VANGUARD TOTAL STOCK MKT ETF92290876920,560$4.4M0.51%
41CANADIAN PACIFIC KANSAS CITYCP55,000$4.1M0.48%
42WASTE CONNECTIONS INCWCN30,000$4.0M0.47%
43WEYERHAEUSER COWY120,000$3.7M0.43%
44SPY 420 STRIKE AMER PUT 06/21/2024SPY2,000$3.5M0.41%
45ALPHABET INC-CL AGOOG26,140$3.4M0.40%
46AMAZON.COM INCAMZN25,709$3.3M0.38%
47FIVE9 INCFIVN50,000$3.2M0.38%
48PAGSEGURO DIGITAL LTD-CL APAGS368,000$3.2M0.37%
49ARCOS DORADOS HOLDINGS INC-AARCO315,810$3.0M0.35%
50AGNICO EAGLE MINES LTDAEM60,000$2.7M0.32%
51FRANCO-NEVADA CORPFNV20,000$2.7M0.31%
52CANADIAN NATURAL RESOURCES13638510130,000$2.6M0.31%
53CI&T INC/UNITED STATES-ACINT395,000$2.6M0.30%
54EOG RESOURCES INCEOG20,000$2.5M0.30%
55XRT 60 STRIKE AMER PUT 12/15/202378464A9548,000$2.3M0.27%
56ARKK 40 STRIKE AMER PUT 01/19/202400214Q9547,000$2.3M0.27%
57ALLY 25 STRIKE AMER PUT 01/19/202402005N95013,000$2.3M0.27%
58BX 110 STRIKE AMER PUT 12/15/2023BX3,000$2.2M0.26%
59EATON CORP PLCETN10,000$2.1M0.25%
60ITB 80 STRIKE AMER PUT 01/19/20244642889524,000$2.1M0.25%
61COF 95 STRIKE AMER PUT 01/19/202414040H9553,500$2.0M0.24%
62VTEX -CLASS AVTEX380,000$1.9M0.22%
63APPLE INCAAPL10,596$1.8M0.21%
64QQQ 350 STRIKE AMER PUT 12/15/2023IVZ2,000$1.8M0.21%
65KRE 45 STRIKE AMER PUT 12/15/202378464A9584,000$1.6M0.19%
66IVANHOE ELECTRIC INC / USIE125,000$1.5M0.17%
67NVDA 400 STRIKE AMER PUT 06/21/2024NVDA350$1.5M0.17%
68IWM 178 STRIKE AMER CALL 10/20/20234642879054,102$1.2M0.14%
69KRE 40 STRIKE AMER PUT 01/19/202478464A9586,000$1.1M0.13%
70KMX 80 STRIKE AMER PUT 01/19/2024KMX1,000$1.1M0.13%
71TMUS 140 STRIKE AMER CALL 11/17/2023TMUSZ2,000$1.1M0.13%
72IWM 150 STRIKE AMER PUT 01/19/20244642879558,000$1.0M0.12%
73TSLA 210 STRIKE AMER PUT 01/19/2024TSLA1,000$987,5000.12%
74IWM 165 STRIKE AMER PUT 01/19/20244642879553,000$958,5000.11%
75QQQ 365 STRIKE AMER CALL 10/20/2023IVZ2,000$863,0000.10%
76XLU 57 STRIKE AMER PUT 11/17/202381369Y95610,000$845,0000.10%
77COIN 80 STRIKE AMER PUT 01/19/2024COIN600$829,5000.10%
78TMUS 140 STRIKE AMER CALL 01/19/2024TMUSZ1,000$780,0000.09%
79BJ 70 STRIKE AMER CALL 11/17/202305550J9012,000$760,0000.09%
80ABNB 135 STRIKE AMER PUT 11/17/2023ABNB1,000$710,0000.08%
81ITB 80 STRIKE AMER PUT 11/17/20234642889521,842$709,1700.08%
82IWM 180 STRIKE AMER CALL 10/20/20234642879053,500$701,7500.08%
83BABA 95 STRIKE AMER CALL 12/15/2023BBAAY2,000$660,0000.08%
84ASHR 27 STRIKE AMER CALL 11/17/202323305190912,500$575,0000.07%
85ALLY 24 STRIKE AMER PUT 01/19/202402005N9504,000$570,0000.07%
86XLV 130 STRIKE AMER PUT 01/19/202481369Y9591,500$555,0000.07%
87KRE 35 STRIKE AMER PUT 06/21/202478464A9583,000$540,0000.06%
88MU 60 STRIKE AMER PUT 01/19/2024MU2,000$412,0000.05%
89SPY 425 STRIKE AMER PUT 10/20/2023SPY800$388,8000.05%
90TOLL BROTHERS INCTOL5,000$369,8000.04%
91XRT 63 STRIKE AMER PUT 12/15/202378464A9541,000$347,5000.04%
92SPY 350 STRIKE AMER PUT 01/19/2024SPY2,000$338,0000.04%
93KMX 65 STRIKE AMER PUT 01/19/2024KMX1,000$330,0000.04%
94MANCHESTER UNITED PLC-CL AG5784H10614,452$286,0050.03%
95F 11.35 STRIKE AMER PUT 01/19/20243453709506,000$279,0000.03%
96KMX 72 STRIKE AMER PUT 10/20/2023KMX1,000$277,5000.03%
97SAN 3 STRIKE AMER PUT 01/19/2024BCDRF50,000$250,0000.03%
98IWM 175 STRIKE AMER PUT 10/20/20234642879551,000$234,0000.03%
99SMH 135 STRIKE AMER PUT 11/17/202392189F9561,000$225,0000.03%
100TSLA 160 STRIKE AMER PUT 01/19/2024TSLA1,000$217,0000.03%
101IWM 180 STRIKE AMER CALL 10/11/20234642879051,850$201,6500.02%
102SPY 428 STRIKE AMER CALL 10/06/2023SPY500$190,5000.02%
103SPY 422 STRIKE AMER PUT 10/06/2023SPY1,000$164,5000.02%
104ALLY 25 STRIKE AMER PUT 12/15/202302005N9501,000$130,0000.02%
105COF 75 STRIKE AMER PUT 01/19/202414040H9551,000$120,0000.01%
106MANU 28 STRIKE AMER CALL 01/19/2024G5784H9061,000$90,0000.01%
107BX 75 STRIKE AMER PUT 01/19/2024BX2,000$88,0000.01%
108SPY 425 STRIKE AMER PUT 10/02/2023SPY1,000$77,5000.01%
109KVUE 22.5 STRIKE AMER CALL 11/17/2023KVUE6,000$75,0000.01%
110TIP 119 STRIKE AMER CALL 01/19/20244642879066,000$75,0000.01%
111COIN 45 STRIKE AMER PUT 01/19/2024COIN500$72,2500.01%
112IWM 130 STRIKE AMER PUT 01/19/20244642879551,500$66,7500.01%
113QQQ 250 STRIKE AMER PUT 01/19/2024IVZ1,000$60,0000.01%
114ITB 76 STRIKE AMER PUT 11/17/2023464288952237$50,9550.01%
115KMX 60 STRIKE AMER PUT 10/20/2023KMX1,500$18,7500.00%
116SAN 2.5 STRIKE AMER PUT 01/19/2024BCDRF3,590$17,9500.00%
117KMX 50 STRIKE AMER PUT 01/19/2024KMX250$13,7500.00%
118BX 55 STRIKE AMER PUT 01/19/2024BX1,000$6,0000.00%