BRF SA BRFS
SPONSORED ADR · ADR · CUSIP 10552T107 · ISIN US10552T1079
80
institutional holders
+6 vs Q2 2023
91.2m
shares reported held*
$187.0mreported value*
14 new
21 added
26 reduced
9 sold out
net bought ≈ $7.5m (+3.7m 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. Holder counts are more reliable. Implied quarter-end price ≈ $2.05. Options: 4 managers hold calls ($48.3k notional), 5 hold puts ($200.3k).
Trends to Q3 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 93 |
| Q4 2022 | 83 |
| Q1 2023 | 82 |
| Q2 2023 | 74 |
| Q3 2023 | 80 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Bought or addedCut or sold out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 38 | 49 |
| Q1 2023 | 45 | 43 |
| Q2 2023 | 31 | 41 |
| Q3 2023 | 35 | 35 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
CallsPuts
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2022 | $79.2k | $237.9k | 3.00 |
| Q1 2023 | $26.1k | $66.7k | 2.55 |
| Q2 2023 | $1.1m | $429.0k | 0.41 |
| Q3 2023 | $48.3k | $200.3k | 4.15 |
Biggest buyers
| Herr Investment Group LLC | New | +6.6m |
| UBS Group AG | Added | +5.4m |
| Ninety One UK Ltd | Added | +3.6m |
| Kapitalo Investimentos Ltda | New | +3.0m |
| RENAISSANCE TECHNOLOGIES LLC | Added | +1.7m |
| BNP PARIBAS FINANCIAL MARKETS | Added | +270.6k |
| MACQUARIE GROUP LTD | Added | +118.4k |
| TWO SIGMA ADVISERS, LP | Added | +112.9k |
| AMERICAN CENTURY COMPANIES INC | Added | +102.6k |
| Optiver Holding B.V. | New | +94.6k |
Biggest sellers
| Verition Fund Management LLC | Sold out | -4.6m |
| Allspring Global Investments Holdings, LLC | Reduced | -3.7m |
| CITADEL ADVISORS LLC | Reduced | -2.2m |
| Rheos Capital Works Inc. | Reduced | -2.0m |
| TWO SIGMA INVESTMENTS, LP | Reduced | -1.8m |
| Connor, Clark & Lunn Investment Management Ltd. | Reduced | -994.2k |
| VAN ECK ASSOCIATES CORP | Reduced | -445.2k |
| MILLENNIUM MANAGEMENT LLC | Sold out | -436.2k |
| Polunin Capital Partners Ltd | Reduced | -369.0k |
| BlackRock Inc. | Reduced | -357.2k |
Biggest calls
| GROUP ONE TRADING LLC | Reduced | $34.9k17.0k shares |
| CITADEL ADVISORS LLC | Reduced | $10.5k5.1k shares |
| SIMPLEX TRADING, LLC | Added | $3.0k1.9k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| Optiver Holding B.V. | Reduced | $137.1k66.9k shares |
| SIMPLEX TRADING, LLC | Added | $40.0k19.7k shares |
| CITADEL ADVISORS LLC | Reduced | $22.6k11.0k shares |
| GROUP ONE TRADING LLC | Reduced | $615300 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.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
MARFRIG GLOBAL FOODS S.A.
13D · may seek influence
filed 2025-05-22
Stated purposeItem 4 of the Schedule 13D is hereby further amended by adding the following: On May 15, 2025, Marfrig and BRF entered into the Plan of Merger of BRF shares by Marfrig (the "Plan of Merger"), which sets forth the terms and conditions applicable to the Merger (as defined below). The transaction set forth in the Plan of Merger consists of the acquisition by Marfrig of all BRF shares (other than shares held by Marfrig) on the closing date, in exchange for the issuance to BRF shareholders (except Marfrig) of common shares of Marfrig, in accordance with the exchange ratio set forth in the Plan of Merger, resulting in the transfer of BRF's shareholder base to Marfrig ("Merger"). Upon the completion of the Merger, BRF will become a wholly-owned subsidiary of Marfrig. The Plan of Merger is attac… Full filing |
50.5% |
Fell to 5% or below in the last year: PUBLIC INVESTMENT FUND (0.0%, 2026-01-05)
Holders, Q3 2023
| Manager | Shares | Change |
|---|---|---|
| Polunin Capital Partners Ltd 7.66% of their portfolio | 16.6m $34.1m | Reduced -369.0k |
| UBS Group AG 0.01% of their portfolio | 13.9m $28.5m | Added +5.4m |
| Allspring Global Investments Holdings, LLC 0.04% of their portfolio | 12.0m $24.6m | Reduced -3.7m |
| MACQUARIE GROUP LTD 0.02% of their portfolio | 9.4m $19.2m | Added +118.4k |
| Ninety One UK Ltd 0.06% of their portfolio | 8.8m $18.0m | Added +3.6m |
| Herr Investment Group LLC 4.19% of their portfolio | 6.6m $13.5m | New |
| BlackRock Inc. 0.00% of their portfolio | 4.1m $8.3m | Reduced -357.2k |
| Kapitalo Investimentos Ltda 0.85% of their portfolio | 3.0m $6.2m | New |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 2.8m $5.7m | Added +1.7m |
| Rheos Capital Works Inc. 0.22% of their portfolio | 1.8m $3.7m | Reduced -2.0m |
| SEI INVESTMENTS CO 0.01% of their portfolio | 1.7m $3.4m | Unchanged |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 1.6m $3.3m | Reduced -1.8m |
| STATE STREET CORP 0.00% of their portfolio | 1.3m $2.6m | Added +20.5k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 884.4k $1.8m | Added +270.6k |
| Connor, Clark & Lunn Investment Management Ltd. 0.01% of their portfolio | 818.7k $1.7m | Reduced -994.2k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 647.8k $1.3m | Added +102.6k |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 613.4k $1.3m | Added +112.9k |
| CLOVERFIELDS CAPITAL GROUP, LP 0.52% of their portfolio | 560.4k $1.1m | Unchanged |
| NORGES BANK 0.00% of their portfolio | 393.4k $806.4k | Unchanged |
| Banco Santander, S.A. 0.01% of their portfolio | 361.0k $740.0k | Added +51.5k |
| B. Riley Wealth Advisors, Inc. 0.02% of their portfolio | 356.0k $729.8k | Reduced -58.0k |
| BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.01% of their portfolio | 291.9k $595.4k | Reduced -1.1k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 267.4k $548.1k | Reduced -36.4k |
| CREDIT SUISSE AG/ 0.00% of their portfolio | 243.7k $499.7k | Reduced -22.1k |
| STOREBRAND ASSET MANAGEMENT AS 0.00% of their portfolio | 237.9k $487.6k | Reduced -15.0k |
| MORGAN STANLEY 0.00% of their portfolio | 214.9k $440.6k | Reduced -188.9k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 146.1k $299.5k | Added +10 |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 101.9k $208.8k | Added +5.2k |
| Optiver Holding B.V. 0.01% of their portfolio | 94.6k $194.0k | New |
| GOULD ASSET MANAGEMENT LLC /CA/ 0.05% of their portfolio | 93.1k $190.8k | Unchanged |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 88.4k $181.3k | Added +27.3k |
| VANGUARD GROUP INC 0.00% of their portfolio | 84.0k $172.1k | Unchanged |
| NORTHERN TRUST CORP 0.00% of their portfolio | 80.6k $165.1k | Reduced -3.9k |
| Investors Research Corp 0.04% of their portfolio | 68.9k $141.3k | Added +450 |
| VAN ECK ASSOCIATES CORP 0.00% of their portfolio | 66.5k $136.0k | Reduced -445.2k |
| Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio | 66.2k $135.7k | Added +15.0k |
| COHEN & STEERS, INC. 0.00% of their portfolio | 58.2k $119.0k | New |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 55.9k $114.6k | Reduced -5.3k |
| Inspire Advisors, LLC 0.02% of their portfolio | 52.2k $107.1k | Reduced -16.2k |
| Provida Pension Fund Administrator 0.00% of their portfolio | 49.4k $101.2k | Unchanged |
| Cubist Systematic Strategies, LLC 0.00% of their portfolio | 47.2k $96.7k | Reduced -545 |
| VPR Management LLC 0.03% of their portfolio | 46.0k $94.3k | Unchanged |
| Creative Planning 0.00% of their portfolio | 44.8k $91.7k | Added +1.5k |
| QUADRANT CAPITAL GROUP LLC 0.01% of their portfolio | 43.9k $89.9k | Added +347 |
| WINTON GROUP Ltd 0.01% of their portfolio | 42.0k $86.2k | Reduced -19.6k |
| Daiwa Securities Group Inc. 0.00% of their portfolio | 39.1k $80.0k | Unchanged |
| Virtu Financial LLC 0.01% of their portfolio | 38.6k $79.0k | New |
| EWA, LLC 0.06% of their portfolio | 38.1k $93.0k | New |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 37.8k $77.5k | Unchanged |
| Greytown Advisors Inc. 0.04% of their portfolio | 36.5k $74.8k | New |
| TWO SIGMA SECURITIES, LLC 0.00% of their portfolio | 35.8k $73.4k | Reduced -14.2k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 35.7k $73.1k | Reduced -2.2m |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 32.1k $65.7k | Reduced -10.2k |
| SIGNATUREFD, LLC 0.00% of their portfolio | 30.6k $62.8k | Added +3.3k |
| Mariner, LLC 0.00% of their portfolio | 26.8k $55.0k | New |
| Mraz, Amerine & Associates, Inc. 0.01% of their portfolio | 22.7k $46.6k | Unchanged |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 20.9k $42.9k | Reduced -37.1k |
| Vident Advisory, LLC 0.00% of their portfolio | 20.7k $42.4k | First filing |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 19.2k $39.4k | Added +5.0k |
| YOUSIF CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 17.8k $36.5k | Unchanged |
| Genus Capital Management Inc. 0.01% of their portfolio | 17.0k $34.9k | Reduced -5.0k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 14.7k $30.1k | New |
| Inspire Investing, LLC 0.00% of their portfolio | 14.4k $29.5k | Reduced -5.6k |
| FMR LLC 0.00% of their portfolio | 13.3k $27.3k | Added +14 |
| SIMPLEX TRADING, LLC 0.00% of their portfolio | 12.7k $25.0k | Added +2.0k |
| Balyasny Asset Management L.P. 0.00% of their portfolio | 11.8k $24.2k | New |
| Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio | 10.0k $21.0k | Unchanged |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 7.2k $14.8k | Reduced -28.2k |
| Lindbrook Capital, LLC 0.00% of their portfolio | 3.0k $6.1k | Added +390 |
| US BANCORP \DE\ 0.00% of their portfolio | 1.2k $2.5k | Reduced -9.3k |
| ClariVest Asset Management LLC 0.00% of their portfolio | 1.2k $2.0k | Unchanged |
| Parallel Advisors, LLC 0.00% of their portfolio | 1.0k $2.1k | Unchanged |
| CITIGROUP INC 0.00% of their portfolio | 439 $900 | New |
| Federation des caisses Desjardins du Quebec 0.00% of their portfolio | 400 $820 | New |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 161 $330 | Unchanged |
| UMB Bank, n.a. 0.00% of their portfolio | 132 $271 | Unchanged |
| Itau Unibanco Holding S.A. 0.00% of their portfolio | 90 $185 | New |
| Harel Insurance Investments & Financial Services Ltd. 0.00% of their portfolio | 1 $0 | New |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 0 $1 | Unchanged |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio | 0 $0 | Unchanged |