Vault-13

AMBEV SA ABEV

SPONSORED ADR · ADR · CUSIP 02319V103 · ISIN US02319V1035

Brazilian brewing company

330 institutional holders +24 vs Q1 2023
1,317,054,8251.3bn shares reported held*
$4.2bnreported value*
42 new 117 added 100 reduced 20 sold out net bought ≈ $9.5m (+3.0m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($5.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $3.18. Options: 9 managers hold calls ($14.4m notional), 9 hold puts ($7.5m).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 297Q4 22: 315Q1 23: 306Q2 23: 330330Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 2022297
Q4 2022315
Q1 2023306
Q2 2023330

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q4 22: 135 bought or addedQ4 22: 148 cut or sold outQ4 22Q1 23: 150 bought or addedQ1 23: 146 cut or sold outQ1 23Q2 23: 159 bought or addedQ2 23: 120 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022135148
Q1 2023150146
Q2 2023159120

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$5m$10m$15m$20mQ3 22 calls: $12.1mQ3 22 puts: $9.5mQ3 22P/C 0.79Q4 22 calls: $6.9mQ4 22 puts: $18.6mQ4 22P/C 2.70Q1 23 calls: $13.5mQ1 23 puts: $19.2mQ1 23P/C 1.42Q2 23 calls: $14.4mQ2 23 puts: $7.5mQ2 23P/C 0.52
Numbers
QuarterCallsPutsP/C
Q3 2022$12.1m$9.5m0.79
Q4 2022$6.9m$18.6m2.70
Q1 2023$13.5m$19.2m1.42
Q2 2023$14.4m$7.5m0.52

Biggest buyers

GOLDMAN SACHS GROUP INC Added +19,067,447+19.1m
BANK OF AMERICA CORP /DE/ Added +13,799,043+13.8m
Orbis Allan Gray Ltd New +6,685,068+6.7m
UBS Group AG Added +4,448,972+4.4m
BlackRock Inc. Added +4,368,652+4.4m
RWC Asset Management LLP Added +4,051,054+4.1m
CITIGROUP INC Added +4,001,612+4.0m
Qube Research & Technologies Ltd Added +3,127,558+3.1m
JPMORGAN CHASE & CO Added +2,696,110+2.7m
Itau Unibanco Holding S.A. Added +2,557,127+2.6m

Biggest sellers

Ruffer LLP Reduced -16,578,429-16.6m
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Reduced -14,978,229-15.0m
CITADEL ADVISORS LLC Sold out -12,608,231-12.6m
MILLENNIUM MANAGEMENT LLC Reduced -7,833,705-7.8m
SPRUCEGROVE INVESTMENT MANAGEMENT LTD Reduced -6,720,608-6.7m
DEUTSCHE BANK AG\ Reduced -5,836,200-5.8m
Harding Loevner LP Reduced -4,783,354-4.8m
Coronation Fund Managers Ltd. Reduced -4,415,623-4.4m
PZENA INVESTMENT MANAGEMENT LLC Reduced -1,472,512-1.5m
JANE STREET GROUP, LLC Reduced -1,197,784-1.2m

Biggest calls

Optiver Holding B.V. Added $8.4m2.7m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $4.1m1.3m shares
CITADEL ADVISORS LLC Reduced $575.9k181.1k shares
GROUP ONE TRADING LLC Added $510.1k160.4k shares
SIMPLEX TRADING, LLC Reduced $381.0k120.0k shares
JANE STREET GROUP, LLC Added $223.9k70.4k shares
WOLVERINE TRADING, LLC New $96.7k31.2k shares
HAP Trading, LLC Reduced $62110.5k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

Optiver Holding B.V. Reduced $4.4m1.4m shares
CITADEL ADVISORS LLC Reduced $848.7k266.9k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $730.1k229.6k shares
SIMPLEX TRADING, LLC Reduced $678.0k213.5k shares
GROUP ONE TRADING LLC Reduced $519.9k163.5k shares
WOLVERINE TRADING, LLC New $250.2k80.7k shares
JANE STREET GROUP, LLC Reduced $52.5k16.5k shares
HAP Trading, LLC Added $84610.9k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Insider purchases and sales in Q2 2023

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q2 2023.

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 First Eagle Investment Management, LLC 2.53% of their portfolio NEW YORK, NY 311,641,579311.6m $991.0m $991.0m 2.53% Added +564.8k +564,797
2 Harding Loevner LP 2.16% of their portfolio Bridgewater, NJ 116,526,981116.5m $370.6m $370.6m 2.16% Reduced -4.8m -4,783,354
3 Westwood Global Investments, LLC 16.27% of their portfolio BOSTON, MA 103,953,232104.0m $330.6m $330.6m 16.27% Added +2.1m +2,055,410
4 SPRUCEGROVE INVESTMENT MANAGEMENT LTD 13.24% of their portfolio TORONTO, A6 79,811,45279.8m $253.8m $253.8m 13.24% Reduced -6.7m -6,720,608
5 BlackRock Inc. 0.01% of their portfolio New York, NY 58,604,10658.6m $186.4m $186.4m 0.01% Added +4.4m +4,368,652
6 JANUS HENDERSON GROUP PLC 0.10% of their portfolio LONDON, X0 49,858,56049.9m $158.3m $158.3m 0.10% Added +29.0k +29,000
7 Ruffer LLP 8.35% of their portfolio LONDON, X0 44,930,00544.9m $142.6m $142.6m 8.35% Reduced -16.6m -16,578,429
8 Ninety One UK Ltd 0.39% of their portfolio London, X0 41,739,87241.7m $132.7m $132.7m 0.39% Added +2.0m +1,990,903
9 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 39,008,39339.0m $124.0m $124.0m 0.01% Added +2.7m +2,696,110
10 GOLDMAN SACHS GROUP INC 0.03% of their portfolio NEW YORK, NY 35,455,53735.5m $112.7m $112.7m 0.03% Added +19.1m +19,067,447
11 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.03% of their portfolio Boston, MA 33,403,76033.4m $106.2m $106.2m 0.03% Added +1.5m +1,492,255
12 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 30,765,31130.8m $97.8m $97.8m 0.01% Added +13.8m +13,799,043
13 Perpetual Ltd 0.78% of their portfolio SYDNEY, NEW SOUTH WALES, C3 28,606,51628.6m $91.0m $91.0m 0.78% Added +2.2m +2,239,528
14 RENAISSANCE TECHNOLOGIES LLC 0.10% of their portfolio NEW YORK, NY 21,803,29621.8m $69.3m $69.3m 0.10% Reduced -374.0k -374,030
15 LOOMIS SAYLES & CO L P 0.11% of their portfolio BOSTON, MA 20,851,52620.9m $66.3m $66.3m 0.11% Reduced -120.9k -120,937
16 Seafarer Capital Partners, LLC 16.06% of their portfolio CORTE MADERA, CA 16,639,00016.6m $52.9m $52.9m 16.06% Unchanged
17 CITIGROUP INC 0.07% of their portfolio NEW YORK, NY 16,238,32616.2m $51.6m $51.6m 0.07% Added +4.0m +4,001,612
18 PZENA INVESTMENT MANAGEMENT LLC 0.20% of their portfolio NEW YORK, NY 14,706,08114.7m $46.8m $46.8m 0.20% Reduced -1.5m -1,472,512
19 Ninety One North America, Inc. 1.98% of their portfolio New York, NY 14,666,70414.7m $46.6m $46.6m 1.98% Reduced -19.4k -19,375
20 Itau Unibanco Holding S.A. 1.77% of their portfolio SAO PAULO, D5 12,653,30712.7m $37.9m $37.9m 1.77% Added +2.6m +2,557,127
21 RWC Asset Management LLP 1.65% of their portfolio LONDON, X0 10,792,75210.8m $34.3m $34.3m 1.65% Added +4.1m +4,051,054
22 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 10,590,78410.6m $33.7m $33.7m 0.00% Reduced -99.7k -99,669
23 SEI INVESTMENTS CO 0.05% of their portfolio OAKS, PA 9,410,7719.4m $29.9m $29.9m 0.05% Added +3.9k +3,924
24 DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio AUSTIN, TX 8,442,1778.4m $26.8m $26.8m 0.01% Reduced -181.7k -181,748
25 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 8,361,8758.4m $26.6m $26.6m 0.00% Added +1.9m +1,907,841
26 SCHRODER INVESTMENT MANAGEMENT GROUP 0.04% of their portfolio London, X0 8,181,5608.2m $26.0m $26.0m 0.04% Added +2.0m +1,973,716
27 Invesco Ltd. 0.01% of their portfolio ATLANTA, GA 7,758,0327.8m $24.7m $24.7m 0.01% Reduced -174.0k -173,958
28 CANADA LIFE ASSURANCE Co 0.05% of their portfolio WINNIPEG, A2 7,226,5847.2m $23.2m $23.2m 0.05% Added +158.6k +158,586
29 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 7,003,2337.0m $22.3m $22.3m 0.00% Added +129.9k +129,923
30 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 6,763,4436.8m $21.5m $21.5m 0.02% Reduced -7.8m -7,833,705
31 Orbis Allan Gray Ltd 0.15% of their portfolio HamiltoN, D0 6,685,0686.7m $21.3m $21.3m 0.15% New
32 UBS Group AG 0.01% of their portfolio ZURICH, V8 6,211,7646.2m $19.8m $19.8m 0.01% Added +4.4m +4,448,972
33 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.02% of their portfolio BOSTON, MA 6,210,6176.2m $19.8m $19.8m 0.02% Reduced -15.0m -14,978,229
34 Fisher Asset Management, LLC 0.01% of their portfolio PLANO, TX 6,145,4626.1m $19.5m $19.5m 0.01% Reduced -58.7k -58,703
35 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 5,658,1925.7m $18.0m $18.0m 0.00% Added +55.8k +55,783
36 AQR CAPITAL MANAGEMENT LLC 0.03% of their portfolio Greenwich, CT 5,011,2485.0m $15.9m $15.9m 0.03% Added +474.0k +474,049
37 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 4,995,5205.0m $15.9m $15.9m 0.00% Reduced -452.2k -452,200
38 BRANDES INVESTMENT PARTNERS, LP 0.32% of their portfolio LA JOLLA, CA 4,969,9685.0m $15.8m $15.8m 0.32% Reduced -142.0k -142,035
39 Coronation Fund Managers Ltd. 0.39% of their portfolio Cape Town, T3 4,551,8044.6m $14.5m $14.5m 0.39% Reduced -4.4m -4,415,623
40 Qube Research & Technologies Ltd 0.06% of their portfolio LONDON, X0 4,473,8754.5m $14.2m $14.2m 0.06% Added +3.1m +3,127,558
41 Legal & General Group Plc 0.00% of their portfolio London, X0 4,207,9264.2m $13.4m $13.4m 0.00% Reduced -277.3k -277,296
42 State of New Jersey Common Pension Fund D 0.04% of their portfolio TRENTON, NJ 3,789,4463.8m $12.1m $12.1m 0.04% Unchanged
43 APG Asset Management N.V. 0.02% of their portfolio Amsterdam, P7 3,581,8003.6m $10.4m $10.4m 0.02% Unchanged
44 Euro Pacific Asset Management, LLC 2.41% of their portfolio DORADO, PR 3,571,3973.6m $11.0m $11.0m 2.41% Added +68.4k +68,433
45 HSBC HOLDINGS PLC 0.01% of their portfolio LONDON, X0 3,464,5943.5m $11.0m $11.0m 0.01% Added +127.3k +127,330
46 CIBC WORLD MARKET INC. 0.03% of their portfolio TORONTO, A6 2,809,6162.8m $8.9m $8.9m 0.03% Added +760 +760
47 FOUNDATION RESOURCE MANAGEMENT INC 1.46% of their portfolio LITTLE ROCK, AR 2,755,1802.8m $8.8m $8.8m 1.46% Added +39.7k +39,732
48 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 2,613,6672.6m $8.3m $8.3m 0.00% Added +181.2k +181,192
49 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 2,510,5042.5m $8.0m $8.0m 0.01% Added +596.5k +596,450
50 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 2,072,4712.1m $6.6m $6.6m 0.00% Reduced -5.8m -5,836,200
51 Corient Private Wealth LP 0.02% of their portfolio MIAMI, FL 2,067,5402.1m $6.6m $6.6m 0.02% Added +1.8m +1,768,295
52 Connor, Clark & Lunn Investment Management Ltd. 0.03% of their portfolio VANCOUVER, A1 1,862,0051.9m $5.9m $5.9m 0.03% Added +56.3k +56,305
53 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,820,0941.8m $5.8m $5.8m 0.00% Added +85.7k +85,716
54 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,571,0321.6m $5.0m $5.0m 0.00% Added +180.7k +180,650
55 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 1,378,8331.4m $4.4m $4.4m 0.00% Reduced -472.4k -472,445
56 SCOTIA CAPITAL INC. 0.03% of their portfolio TORONTO, A6 1,371,0251.4m $4.4m $4.4m 0.03% Added +14.4k +14,353
57 ARIEL INVESTMENTS, LLC 0.04% of their portfolio CHICAGO, IL 1,370,5561.4m $4.4m $4.4m 0.04% Reduced -60.8k -60,770
58 NATIXIS ADVISORS, LLC 0.01% of their portfolio Boston, MA 1,320,1981.3m $4.2m $4.2m 0.01% Added +117.8k +117,843
59 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 1,318,4571.3m $4.2m $4.2m 0.00% Added +149.5k +149,539
60 OPPENHEIMER & CO INC 0.08% of their portfolio NEW YORK, NY 1,293,0211.3m $4.1m $4.1m 0.08% Reduced -7.2k -7,241
61 Rockefeller Capital Management L.P. 0.02% of their portfolio NEW YORK, NY 1,259,6021.3m $4.0m $4.0m 0.02% First filing
62 Mirae Asset Global Investments Co., Ltd. 0.01% of their portfolio SEOUL, M5 1,100,4581.1m $3.3m $3.3m 0.01% Added +642.1k +642,083
63 RAYMOND JAMES & ASSOCIATES 0.00% of their portfolio ST PETERSBURG, FL 1,083,0941.1m $3.4m $3.4m 0.00% Reduced -9.0k -8,953
64 US BANCORP \DE\ 0.01% of their portfolio MINNEAPOLIS, MN 1,064,4691.1m $3.4m $3.4m 0.01% Reduced -22.9k -22,926
65 HOHIMER WEALTH MANAGEMENT, LLC 0.89% of their portfolio SEATTLE, WA 1,014,4901.0m $3.2m $3.2m 0.89% Reduced -32.4k -32,422
66 BARINGS LLC 0.11% of their portfolio CHARLOTTE, NC 1,006,8321.0m $3.2m $3.2m 0.11% Unchanged
67 EARNEST PARTNERS LLC 0.02% of their portfolio ATLANTA, GA 1,004,1611.0m $3.2m $3.2m 0.02% Reduced -100.0k -100,044
68 Qtron Investments LLC 0.55% of their portfolio Boston, MA 915,447915.4k $2.9m $2.9m 0.55% Added +689.6k +689,581
69 Mitsubishi UFJ Trust & Banking Corp 0.01% of their portfolio TOKYO, M0 884,329884.3k $2.8m $2.8m 0.01% Added +64.2k +64,202
70 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 872,129872.1k $2.8m $2.8m 0.00% New
71 Mraz, Amerine & Associates, Inc. 0.64% of their portfolio Modesto, CA 857,063857.1k $2.7m $2.7m 0.64% Reduced -2.3k -2,253
72 OPPENHEIMER ASSET MANAGEMENT INC. 0.04% of their portfolio NEW YORK, NY 831,355831.4k $2.6m $2.6m 0.04% Reduced -1.5k -1,467
73 Allspring Global Investments Holdings, LLC 0.00% of their portfolio CHARLOTTE, NC 764,897764.9k $2.4m $2.4m 0.00% Unchanged
74 LONGFELLOW INVESTMENT MANAGEMENT CO LLC 0.55% of their portfolio BOSTON, MA 750,912750.9k $2.4m $2.4m 0.55% Unchanged
75 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 718,917718.9k $2.3m $2.3m 0.00% Reduced -263.4k -263,450
76 Assenagon Asset Management S.A. 0.01% of their portfolio SENNINGERBERG, N4 710,986711.0k $2.3m $2.3m 0.01% New
77 COMERICA BANK 0.00% of their portfolio DALLAS, TX 669,735669.7k $0 $0 0.00% First filing
78 Sumitomo Mitsui Trust Group, Inc. 0.00% of their portfolio CHIYODA-KU, TOKYO, M0 661,522661.5k $2.1m $2.1m 0.00% Added +57.7k +57,700
79 AXA S.A. 0.01% of their portfolio PARIS, I0 624,676624.7k $2.0m $2.0m 0.01% Reduced -204.6k -204,627
80 VPR Management LLC 0.50% of their portfolio HOUSTON, TX 616,839616.8k $2.0m $2.0m 0.50% Unchanged
81 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 584,028584.0k $1.9m $1.9m 0.00% Reduced -23.0k -22,953
82 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 571,700571.7k $1.8m $1.8m 0.00% Reduced -305.1k -305,111
83 Advisors Asset Management, Inc. 0.04% of their portfolio Monument, CO 549,779549.8k $1.7m $1.7m 0.04% Added +28.2k +28,236
84 VAN ECK ASSOCIATES CORP 0.00% of their portfolio NEW YORK, NY 537,131537.1k $1.7m $1.7m 0.00% Reduced -53.7k -53,657
85 STANSBERRY ASSET MANAGEMENT, LLC 0.30% of their portfolio Westlake, TX 515,223515.2k $1.6m $1.6m 0.30% Added +26.5k +26,453
86 Optiver Holding B.V. 0.05% of their portfolio AMSTERDAM, P7 504,905504.9k $1.6m $1.6m 0.05% New
87 FIFTH THIRD BANCORP 0.01% of their portfolio CINCINNATI, OH 498,460498.5k $1.6m $1.6m 0.01% Added +4.8k +4,847
88 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 493,924493.9k $1.6m $1.6m 0.00% Added +166.2k +166,248
89 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 479,921479.9k $1.5m $1.5m 0.00% Added +1.7k +1,733
90 Banque Cantonale Vaudoise 0.07% of their portfolio LAUSANNE, V8 443,600443.6k $1.4m $1.4m 0.07% Unchanged
91 Balefire, LLC 0.55% of their portfolio DALLAS, TX 423,189423.2k $1.3m $1.3m 0.55% Added +174.5k +174,459
92 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 408,295408.3k $1.3m $1.3m 0.00% Added +2.4k +2,372
93 Banco Santander, S.A. 0.02% of their portfolio Madrid, U3 398,476398.5k $1.3m $1.3m 0.02% Not comparable
94 HANTZ FINANCIAL SERVICES, INC. 0.03% of their portfolio SOUTHFIELD, MI 389,564389.6k $1.2m $1.2m 0.03% Added +47.2k +47,210
95 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 378,037378.0k $1.2m $1.2m 0.00% Reduced -38.9k -38,895
96 Lombard Odier Asset Management (Switzerland) SA 0.16% of their portfolio PETIT-LANCY, V8 365,000365.0k $1.2m $1.2m 0.16% Unchanged
97 First Personal Financial Services 0.29% of their portfolio CHARLOTTE, NC 364,715364.7k $1.2m $1.2m 0.29% Reduced -5.4k -5,430
98 DAVENPORT & Co LLC 0.01% of their portfolio RICHMOND, VA 363,240363.2k $1.2m $1.2m 0.01% Reduced -4.3k -4,262
99 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 352,306352.3k $1.1m $1.1m 0.01% Added +203.7k +203,746
100 Pacer Advisors, Inc. 0.00% of their portfolio Malvern, PA 350,090350.1k $1.1m $1.1m 0.00% Added +78.4k +78,440