BW Gestao de Investimentos’s iShares MSCI Brazil ETF EWZ Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	–	Sell	-164,400	Closed	-$5.22M	–	288
2025 Q4	$5.22M	Sell	164,400 -668,400	-80%	-$21.1M	0.12%	150
2025 Q3	$25.8M	Buy	+832,800	New	+$23.8M	1.13%	21
2025 Q2	–	Sell	-2,500,000	Closed	-$67.5M	–	120
2025 Q1	$64.6M	Buy	2,500,000 +1,740,000	+229%	+$43.3M	2.03%	11
2024 Q4	$17.1M	Buy	+760,000	New	+$20.4M	0.55%	27
2022 Q2	–	Sell	-32,100	Closed	-$1.21M	–	49
2022 Q1	$1.21M	Buy	+32,100	New	+$1.04M	0.26%	44
2020 Q3	–	Sell	-300,000	Closed	-$8.63M	–	38
2020 Q2	$8.63M	Buy	300,000 +224,500	+297%	+$5.88M	2.06%	11
2020 Q1	$1.78M	Sell	75,500 -159,000	-68%	-$6.14M	0.56%	25
2019 Q4	$11.1M	Sell	234,500 -230,000	-50%	-$10.1M	2.9%	8
2019 Q3	$19.6M	Sell	464,500 -200,000	-30%	-$8.63M	7.37%	3
2019 Q2	$29.1M	Buy	664,500 +576,000	+651%	+$23.8M	10.2%	3
2019 Q1	$3.63M	Sell	88,500 -161,500	-65%	-$6.94M	1.52%	13
2018 Q4	$9.55M	Buy	250,000 +175,000	+233%	+$6.78M	3.71%	5
2018 Q3	$2.53M	Buy	+75,000	New	+$2.52M	0.69%	25