BW Gestao de Investimentos Ltda portfolio

What changed this quarter

365 positions with a change (124 new, 63 added to, 82 trimmed, 96 sold); also, 9 entered through an IPO, 2 exited through an acquisition or merger, 1 entered through a spin-off. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• State Str Spdr S&P 500 ETF T+22.1 ppof portfolioNew
  — → 22.1%
• iShares Core S&P 500 ETF+264%more sharesIncreased
  8.7% → 19.7%
• Micron Technology+1.1 ppof portfolioNew
  — → 1.1%
• Alphabet+0.8 ppof portfolioNew
  — → 0.8%
• Broadcom−0.7 ppof portfolioSold out
  1.4% → —
• St SR UTL SL SE SPDR ETF-usd ETF−75%fewer sharesReduced
  1.8% → 0.2%
• Asml Holding+0.7 ppof portfolioNew
  — → 0.7%
• RB Global−32%fewer sharesReduced
  3.1% → 1.4%
• American Airlines Group−92%fewer sharesReduced
  1.2% → 0.1%
• Generac Holdings+0.6 ppof portfolioNew
  — → 0.6%
• Microsoft+124%more sharesIncreased
  0.9% → 1.0%
• Amazon.com+177%more sharesIncreased
  0.5% → 0.8%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• State Str Spdr S&P 500 ETF TSPY22.1%
• iShares Core S&P 500 ETFIVV19.7%
• Space Exploration TechnologiesSPCX2.4%
• RB GlobalRBA1.4%
• Tenet HealthcareTHC1.3%
• Micron TechnologyMU1.1%
• MicrosoftMSFT1.0%
• EcolabECL1.0%
• Amazon.comAMZN0.8%
• Global X Copper Miners ETFCOPX0.8%
• EchoStarECHO0.8%
• State Street Health Care Select Sector ETFXLV0.8%
• AlphabetGOOG0.8%
• ASML HoldingASML0.7%
• MedlineMDLN0.7%
• BlackstoneBX0.6%
• Generac HoldingsGNRC0.6%
• Century AluminumCENX0.6%
• Sherwin-williamsSHW0.6%
• Parker-hannifinPH0.6%
• NutanixNTNX0.6%
• AppleAAPL0.5%
• ClarivateCLVT0.5%
• Xcel EnergyXEL0.5%
• Global X Lithium & Battery T ETFLIT0.5%
• Global X Uranium ETFURA0.5%
• Consolidated EdisonED0.5%
• CorningGLW0.4%
• SouthernSO0.4%
• MosaicMOS0.4%
• Advanced Micro DevicesAMD0.4%
• Forgent Power SolutionsFPS0.4%
• American Electric PowerAEP0.4%
• Centerpoint EnergyCNP0.4%
• Capital One FinancialCOF0.4%
• Williams CompaniesWMB0.4%
• iShares Msci Emerging Market ETFEEM0.4%
• TimkenTKR0.4%
• Black HillsBKH0.4%
• DatadogDDOG0.4%
• US Bancorp \de\USB0.4%
• Rackspace TechnologyRXT0.4%
• BankUnitedBKU0.4%
• EntergyETR0.4%
• Flagstar Bank, National AssociationFLG0.4%
• Advance Auto PartsAAP0.4%
• Cerebras SystemsCBRS0.4%
• SharkninjaSN0.4%
• IdacorpIDA0.3%
• SOLV EnergyMWH0.3%
• NucorNUE0.3%
• Wells FargoWFC0.3%
• Comfort Systems USAFIX0.3%
• PPLPPL0.3%
• Venture GlobalVG0.3%
• Gildan ActivewearGIL0.3%
• Applied MaterialsAMAT0.3%
• Hut 8HUT0.3%
• InnioINIO0.3%
• Fervo EnergyFRVO0.3%
• Curtiss-wrightCW0.3%
• CaterpillarCAT0.3%
• International Flavors & FragrancesIFF0.3%
• Pinnacle Financial PartnersPNFP0.3%
• MKSMKSI0.3%
• TPGTPG0.3%
• Columbia Banking SystemCOLB0.3%
• Optimum CommunicationsOPTU0.3%
• Zions Bancorporation, National AssociationZION0.3%
• Valley National BancorpVLY0.3%
• EvergyEVRG0.3%
• Ultra Clean HoldingsUCTT0.3%
• Uniti GroupUNIT0.3%
• Capri HoldingsCPRI0.3%
• Ally FinancialALLY0.3%
• H2o AmericaHTO0.3%
• Waste ConnectionsWCN0.3%
• RevvityRVTY0.3%
• ServiceNowNOW0.3%
• DICK'S Sporting GoodsDKS0.3%
• Intercontinental ExchangeICE0.3%
• Union PacificUNP0.3%
• QuantinuumQNT0.3%
• 3mMMM0.3%
• St SR UTL SL SE SPDR ETF-usd ETFXLU0.2%
• Xerox HoldingsXRX0.2%
• AmerenAEE0.2%
• UGIUGI0.2%
• DigitalOcean HoldingsDOCN0.2%
• Pg&ePCG0.2%
• First Trust Global Wind Ener ETFFAN0.2%
• Sable OffshoreSOC0.2%
• EVE HoldingEVEX0.2%
• MSC Industrial DirectMSM0.2%
• Target HospitalityTH0.2%
• Zoom CommunicationsZM0.2%
• Digital Realty TrustDLR0.2%
• Western Alliance BancorporationWAL0.2%
• RobloxRBLX0.2%
• DeereDE0.2%