BW Gestao de Investimentos Ltda. 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
APPLE INC	AAPL-USAA	037833100	9,849	59,725	SH		SOLE	0	59,725	0	0
ALLY 15 STRIKE AMER PUT 04/21/2023	ALLY/A230421P15-USAA	02005N950	17	944	SH	Put	SOLE	0	944	0	0
ALLY 20 STRIKE AMER PUT 06/16/2023	ALLY/A230616P20-USAA	02005N950	1,140	12,000	SH	Put	SOLE	0	12,000	0	0
ALLY 25 STRIKE AMER PUT 01/19/2024	ALLY/A240119P25-USAA	02005N950	2,700	6,000	SH	Put	SOLE	0	6,000	0	0
AMERICAN TOWER CORP	AMT-USAA	03027X100	9,195	45,000	SH		SOLE	0	45,000	0	0
AMAZON.COM INC	AMZN-USAA	023135106	4,193	40,591	SH		SOLE	0	40,591	0	0
ARCOS DORADOS HOLDINGS INC-A	ARCO-USAA	G0457F107	10,441	1,354,278	SH		SOLE	0	1,354,278	0	0
ARKK 35 STRIKE AMER PUT 06/16/2023	ARKK/A230616P35-USAA	00214Q954	449	3,000	SH	Put	SOLE	0	3,000	0	0
ARKK 38 STRIKE AMER PUT 06/16/2023	ARKK/A230616P38-USAA	00214Q954	1,948	8,000	SH	Put	SOLE	0	8,000	0	0
ASHR 32 STRIKE AMER CALL 04/21/2023	ASHR/A230421C32-USAA	233051909	76	13,750	SH	Call	SOLE	0	13,750	0	0
ASHR 31 STRIKE AMER CALL 05/19/2023	ASHR/A230519C31-USAA	233051909	349	7,500	SH	Call	SOLE	0	7,500	0	0
BABA 105 STRIKE AMER CALL 06/16/2023	BABA/A230616C105-USAA	01609W902	426	500	SH	Call	SOLE	0	500	0	0
BAC 31 STRIKE AMER CALL 05/19/2023	BAC/A230519C31-USAA	060505904	243	5,000	SH	Call	SOLE	0	5,000	0	0
BJ'S WHOLESALE CLUB HOLDINGS	BJ-USAA	05550J101	30,163	396,516	SH		SOLE	0	396,516	0	0
BX 55 STRIKE AMER PUT 01/19/2024	BX/A240119P55-USAA	09260D957	224	1,000	SH	Put	SOLE	0	1,000	0	0
BX 75 STRIKE AMER PUT 01/19/2024	BX/A240119P75-USAA	09260D957	1,335	2,000	SH	Put	SOLE	0	2,000	0	0
BLACKSTONE INC	BX-USAA	09260D107	13,610	154,940	SH		SOLE	0	154,940	0	0
CORP AMERICA AIRPORTS SA	CAAP-USAA	L1995B107	1,823	179,089	SH		SOLE	0	179,089	0	0
CROWN CASTLE INC	CCI-USAA	22822V101	35,692	266,678	SH		SOLE	0	266,678	0	0
COF 75 STRIKE AMER PUT 01/19/2024	COF/A240119P75-USAA	14040H955	505	1,000	SH	Put	SOLE	0	1,000	0	0
COF 95 STRIKE AMER PUT 01/19/2024	COF/A240119P95-USAA	14040H955	2,938	2,500	SH	Put	SOLE	0	2,500	0	0
CROWDSTRIKE HOLDINGS INC - A	CRWD-USAA	22788C105	7,165	52,200	SH		SOLE	0	52,200	0	0
COSAN SA -ADR	CSAN-USAA	22113B103	11,264	953,000	SH		SOLE	0	953,000	0	0
DUN & BRADSTREET HOLDINGS IN	DNB-USAA	26484T106	11,363	967,888	SH		SOLE	0	967,888	0	0
ECOLAB INC	ECL-USAA	278865100	2,569	15,520	SH		SOLE	0	15,520	0	0
ISHARES MSCI EMERGING MARKETS	EEM-USAA	464287234	31,929	809,160	SH		SOLE	0	809,160	0	0
ELASTIC NV	ESTC-USAA	N14506104	1,187	20,500	SH		SOLE	0	20,500	0	0
FXI 31 STRIKE AMER CALL 04/21/2023	FXI/A230421C31-USAA	464287904	380	10,000	SH	Call	SOLE	0	10,000	0	0
FXI 28 STRIKE AMER PUT 04/21/2023	FXI/A230421P28-USAA	464287954	223	7,200	SH	Put	SOLE	0	7,200	0	0
ISHARES CHINA LARGE-CAP ETF	FXI-USAA	464287184	50,487	1,709,680	SH		SOLE	0	1,709,680	0	0
ALPHABET INC-CL A	GOOGL-USAA	02079K305	7,376	71,109	SH		SOLE	0	71,109	0	0
HD 250 STRIKE AMER PUT 05/19/2023	HD/A230519P250-USAA	437076952	259	2,000	SH	Put	SOLE	0	2,000	0	0
HD 300 STRIKE AMER PUT 05/19/2023	HD/A230519P300-USAA	437076952	3,660	3,000	SH	Put	SOLE	0	3,000	0	0
HYG 73 STRIKE AMER PUT 04/21/2023	HYG/A230421P73-USAA	464288513	26	1,200	SH	Put	SOLE	0	1,200	0	0
ISHARES EXPANDED TECH-SOFTWARE	IGV-USAA	464287515	41,727	136,946	SH		SOLE	0	136,946	0	0
ISHARES CORE S&P SMALL-CAP ETF	IJR-USAA	464287804	6,495	67,165	SH		SOLE	0	67,165	0	0
IWM 180 STRIKE AMER CALL 04/06/2023	IWM/A230406C180-USAE	464287905	12	100	SH	Call	SOLE	0	100	0	0
IWM 180 STRIKE AMER CALL 04/21/2023	IWM/A230421C180-USAA	464287905	3,402	10,500	SH	Call	SOLE	0	10,500	0	0
IWM 174 STRIKE AMER PUT 04/28/2023	IWM/A230428P174-USAA	464287955	62	250	SH	Put	SOLE	0	250	0	0
IWM 175 STRIKE AMER CALL 05/19/2023	IWM/A230519C175-USAA	464287905	872	1,000	SH	Call	SOLE	0	1,000	0	0
IWM 180 STRIKE AMER CALL 05/19/2023	IWM/A230519C180-USAA	464287905	2,242	4,000	SH	Call	SOLE	0	4,000	0	0
IWM 187 STRIKE AMER CALL 05/19/2023	IWM/A230519C187-USAA	464287905	126	500	SH	Call	SOLE	0	500	0	0
IWM 192 STRIKE AMER CALL 05/19/2023	IWM/A230519C192-USAA	464287905	61	500	SH	Call	SOLE	0	500	0	0
IWM 181 STRIKE AMER PUT 05/19/2023	IWM/A230519P181-USAA	464287955	325	500	SH	Put	SOLE	0	500	0	0
IWM 187 STRIKE AMER PUT 05/19/2023	IWM/A230519P187-USAA	464287955	500	500	SH	Put	SOLE	0	500	0	0
IWM 186 STRIKE AMER CALL 06/16/2023	IWM/A230616C186-USAA	464287905	215	500	SH	Call	SOLE	0	500	0	0
IWM 192 STRIKE AMER CALL 06/16/2023	IWM/A230616C192-USAA	464287905	111	500	SH	Call	SOLE	0	500	0	0
IWM 170 STRIKE AMER PUT 06/16/2023	IWM/A230616P170-USAA	464287955	2,018	5,000	SH	Put	SOLE	0	5,000	0	0
IWM 180 STRIKE AMER PUT 06/16/2023	IWM/A230616P180-USAA	464287955	1,109	1,500	SH	Put	SOLE	0	1,500	0	0
IWM 186 STRIKE AMER PUT 06/16/2023	IWM/A230616P186-USAA	464287955	522	500	SH	Put	SOLE	0	500	0	0
IWM 130 STRIKE AMER PUT 01/19/2024	IWM/A240119P130-USAA	464287955	359	1,500	SH	Put	SOLE	0	1,500	0	0
IWM 150 STRIKE AMER PUT 01/19/2024	IWM/A240119P150-USAA	464287955	1,908	4,000	SH	Put	SOLE	0	4,000	0	0
ISHARES RUSSELL 2000 ETF	IWM-USAA	464287655	5,423	30,400	SH		SOLE	0	30,400	0	0
ISHARES RUSSELL 2000 VALUE ETF	IWN-USAA	464287630	9,026	65,870	SH		SOLE	0	65,870	0	0
ISHARES RUSSELL MID-CAP ETF	IWR-USAA	464287499	17,094	244,475	SH		SOLE	0	244,475	0	0
KMX 55 STRIKE AMER PUT 04/21/2023	KMX/A230421P55-USAA	143130952	405	3,000	SH	Put	SOLE	0	3,000	0	0
KMX 65 STRIKE AMER PUT 04/21/2023	KMX/A230421P65-USAA	143130952	2,400	5,000	SH	Put	SOLE	0	5,000	0	0
KRE 50 STRIKE AMER CALL 04/21/2023	KRE/A230421C50-USAA	78464A908	71	3,000	SH	Call	SOLE	0	3,000	0	0
KRE 40 STRIKE AMER PUT 04/21/2023	KRE/A230421P40-USAA	78464A958	222	3,000	SH	Put	SOLE	0	3,000	0	0
KRE 44 STRIKE AMER PUT 04/21/2023	KRE/A230421P44-USAA	78464A958	818	4,000	SH	Put	SOLE	0	4,000	0	0
KRE 57 STRIKE AMER PUT 04/21/2023	KRE/A230421P57-USAA	78464A958	5,895	4,500	SH	Put	SOLE	0	4,500	0	0
KRE 35 STRIKE AMER PUT 06/16/2023	KRE/A230616P35-USAA	78464A958	297	3,000	SH	Put	SOLE	0	3,000	0	0
KRE 55 STRIKE AMER PUT 06/16/2023	KRE/A230616P55-USAA	78464A958	1,168	1,000	SH	Put	SOLE	0	1,000	0	0
KRE 62 STRIKE AMER PUT 06/16/2023	KRE/A230616P62-USAA	78464A958	5,520	3,000	SH	Put	SOLE	0	3,000	0	0
KRE 35 STRIKE AMER PUT 01/19/2024	KRE/A240119P35-USAA	78464A958	668	3,000	SH	Put	SOLE	0	3,000	0	0
LOWE'S COS INC	LOW-USAA	548661107	16,506	82,540	SH		SOLE	0	82,540	0	0
ISHARES IBOXX INVESTMENT GRADE	LQD-USAA	464287242	2,192	20,000	SH		SOLE	0	20,000	0	0
MERCADOLIBRE INC	MELI-USAA	58733R102	14,623	11,094	SH		SOLE	0	11,094	0	0
MICROSOFT CORP	MSFT-USAA	594918104	5,066	17,571	SH		SOLE	0	17,571	0	0
MURPHY USA INC	MUSA-USAA	626755102	10,580	41,000	SH		SOLE	0	41,000	0	0
NIKE INC -CL B	NKE-USAA	654106103	6,935	56,550	SH		SOLE	0	56,550	0	0
NTNX 27.5 STRIKE AMER CALL 04/21/2023	NTNX/A230421C27.5-USAA	67059N908	188	5,000	SH	Call	SOLE	0	5,000	0	0
NTNX 30 STRIKE AMER CALL 04/21/2023	NTNX/A230421C30-USAA	67059N908	5	2,000	SH	Call	SOLE	0	2,000	0	0
NUTANIX INC - A	NTNX-USAA	67059N108	24,971	960,795	SH		SOLE	0	960,795	0	0
ORACLE CORP	ORCL-USAA	68389X105	39,355	423,531	SH		SOLE	0	423,531	0	0
PALO ALTO NETWORKS INC	PANW-USAA	697435105	11,565	57,900	SH		SOLE	0	57,900	0	0
QQQ 310 STRIKE AMER PUT 05/05/2023	QQQ/A230505P310-USAA	46090E953	2,353	5,000	SH	Put	SOLE	0	5,000	0	0
QQQ 280 STRIKE AMER PUT 06/16/2023	QQQ/A230616P280-USAA	46090E953	293	1,000	SH	Put	SOLE	0	1,000	0	0
QQQ 250 STRIKE AMER PUT 01/19/2024	QQQ/A240119P250-USAA	46090E953	2,608	4,000	SH	Put	SOLE	0	4,000	0	0
RITCHIE BROS AUCTIONEERS	RBA-USAA	767744105	12,090	214,773	SH		SOLE	0	214,773	0	0
SAN 2.5 STRIKE AMER PUT 01/19/2024	SAN/A240119P2.5-USAA	05964H955	36	3,590	SH	Put	SOLE	0	3,590	0	0
SAN 3 STRIKE AMER PUT 01/19/2024	SAN/A240119P3-USAA	05964H955	1,000	50,000	SH	Put	SOLE	0	50,000	0	0
SCHWAB US DVD EQUITY ETF	SCHD-USAA	808524797	12,291	168,000	SH		SOLE	0	168,000	0	0
SCHW 58 STRIKE AMER CALL 04/21/2023	SCHW/A230421C58-USAA	808513905	227	3,000	SH	Call	SOLE	0	3,000	0	0
SCHW 62.5 STRIKE AMER CALL 06/16/2023	SCHW/A230616C62.5-USAA	808513905	164	1,347	SH	Call	SOLE	0	1,347	0	0
SCHWAB (CHARLES) CORP	SCHW-USAA	808513105	14,143	270,000	SH		SOLE	0	270,000	0	0
SHERWIN-WILLIAMS CO/THE	SHW-USAA	824348106	15,129	67,309	SH		SOLE	0	67,309	0	0
SKECHERS USA INC-CL A	SKX-USAA	830566105	3,326	70,000	SH		SOLE	0	70,000	0	0
SPY 417 STRIKE AMER CALL 04/06/2023	SPY/A230406C417-USAE	78462F903	460	10,000	SH	Call	SOLE	0	10,000	0	0
SPY 400 STRIKE AMER PUT 04/14/2023	SPY/A230414P400-USAA	78462F953	323	1,500	SH		SOLE	0	1,500	0	0
SPY 410 STRIKE AMER CALL 04/21/2023	SPY/A230421C410-USAA	78462F903	1,319	2,000	SH	Call	SOLE	0	2,000	0	0
SPY 380 STRIKE AMER PUT 06/16/2023	SPY/A230616P380-USAA	78462F953	1,994	4,000	SH		SOLE	0	4,000	0	0
SPY 395 STRIKE AMER PUT 06/16/2023	SPY/A230616P395-USAA	78462F953	2,366	3,000	SH		SOLE	0	3,000	0	0
SPY 330 STRIKE AMER PUT 07/21/2023	SPY/A230721P330-USAA	78462F953	300	1,500	SH		SOLE	0	1,500	0	0
SPY 330 STRIKE AMER PUT 08/18/2023	SPY/A230818P330-USAA	78462F953	425	1,500	SH		SOLE	0	1,500	0	0
SPY 350 STRIKE AMER PUT 01/19/2024	SPY/A240119P350-USAA	78462F953	3,870	4,000	SH		SOLE	0	4,000	0	0
SUZANO SA - SPON ADR	SUZ-USAA	86959K105	8,965	1,092,000	SH		SOLE	0	1,092,000	0	0
TENET HEALTHCARE CORP	THC-USAA	88033G407	21,533	362,380	SH		SOLE	0	362,380	0	0
TIP 115 STRIKE AMER CALL 09/15/2023	TIP/A230915C115-USAA	464287906	675	6,000	SH	Call	SOLE	0	6,000	0	0
TIP 117 STRIKE AMER CALL 09/15/2023	TIP/A230915C117-USAA	464287906	483	6,000	SH	Call	SOLE	0	6,000	0	0
TIP 119 STRIKE AMER CALL 01/19/2024	TIP/A240119C119-USAA	464287906	675	6,000	SH	Call	SOLE	0	6,000	0	0
T-MOBILE US INC	TMUS-USAA	872590104	31,526	217,663	SH		SOLE	0	217,663	0	0
TOLL BROTHERS INC	TOL-USAA	889478103	1,501	25,000	SH		SOLE	0	25,000	0	0
TSLA 100 STRIKE AMER PUT 04/21/2023	TSLA/A230421P100-USAA	88160R951	4	500	SH	Put	SOLE	0	500	0	0
TSLA 200 STRIKE AMER PUT 05/05/2023	TSLA/A230505P200-USAA	88160R951	1,173	1,000	SH	Put	SOLE	0	1,000	0	0
TWLO 70 STRIKE AMER CALL 06/16/2023	TWLO/A230616C70-USAA	90138F902	1,235	2,000	SH	Call	SOLE	0	2,000	0	0
TWLO 90 STRIKE AMER CALL 06/16/2023	TWLO/A230616C90-USAA	90138F902	69	500	SH	Call	SOLE	0	500	0	0
VANGUARD REAL ESTATE ETF	VNQ-USAA	922908553	10,301	124,050	SH		SOLE	0	124,050	0	0
VTEX -CLASS A	VTEX-USAA	G9470A102	1,459	380,000	SH		SOLE	0	380,000	0	0
WASTE CONNECTIONS INC	WCN-USAA	94106B101	9,742	70,052	SH		SOLE	0	70,052	0	0
ENERGY SELECT SECTOR SPDR	XLE-USAA	81369Y506	828	10,000	SH		SOLE	0	10,000	0	0
FINANCIAL SELECT SECTOR SPDR	XLF-USAA	81369Y605	9,532	296,500	SH		SOLE	0	296,500	0	0
XLI 95 STRIKE AMER PUT 06/16/2023	XLI/A230616P95-USAA	81369Y954	459	3,000	SH		SOLE	0	3,000	0	0
UTILITIES SELECT SECTOR SPDR	XLU-USAA	81369Y886	10,830	160,000	SH		SOLE	0	160,000	0	0
CONSUMER DISCRETIONARY SELT	XLY-USAA	81369Y407	4,306	28,795	SH		SOLE	0	28,795	0	0
XRT 65 STRIKE AMER CALL 05/19/2023	XRT/A230519C65-USAA	78464A904	450	2,500	SH	Call	SOLE	0	2,500	0	0
XRT 60 STRIKE AMER PUT 06/16/2023	XRT/A230616P60-USAA	78464A954	1,300	4,000	SH	Put	SOLE	0	4,000	0	0
XRT 62 STRIKE AMER PUT 06/16/2023	XRT/A230616P62-USAA	78464A954	1,575	5,000	SH		SOLE	0	5,000	0	0
XRT 70 STRIKE AMER PUT 06/16/2023	XRT/A230616P70-USAA	78464A954	3,096	4,000	SH	Put	SOLE	0	4,000	0	0
SPDR S&P RETAIL ETF	XRT-USAA	78464A714	6,312	99,520	SH		SOLE	0	99,520	0	0