Vault-13

BRF SA BRFS

SPONSORED ADR · ADR · CUSIP 10552T107 · ISIN US10552T1079

106 institutional holders +17 vs Q1 2024
61,086,94761.1m shares reported held*
$248.6mreported value*
27 new 35 added 33 reduced 8 sold out net bought ≈ $3.5m (+861.2k 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 ($40.5k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $4.07. Options: 5 managers hold calls ($952.1k notional), 4 hold puts ($250.3k).

Trends to Q2 2024

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 93Q4 22: 83Q1 23: 82Q2 23: 74Q3 23: 80Q4 23: 90Q1 24: 89Q2 24: 106106Q3 22Q1 23Q3 23Q1 24Q2 24
Numbers
QuarterHolders
Q3 202293
Q4 202283
Q1 202382
Q2 202374
Q3 202380
Q4 202390
Q1 202489
Q2 2024106

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q4 22: 38 bought or addedQ4 22: 49 cut or sold outQ4 22Q1 23: 45 bought or addedQ1 23: 43 cut or sold outQ2 23: 31 bought or addedQ2 23: 41 cut or sold outQ2 23Q3 23: 35 bought or addedQ3 23: 35 cut or sold outQ4 23: 43 bought or addedQ4 23: 41 cut or sold outQ4 23Q1 24: 51 bought or addedQ1 24: 38 cut or sold outQ2 24: 62 bought or addedQ2 24: 41 cut or sold outQ2 24
Numbers
QuarterBought or addedCut or sold out
Q4 20223849
Q1 20234543
Q2 20233141
Q3 20233535
Q4 20234341
Q1 20245138
Q2 20246241

Calls vs puts

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

CallsPuts
$0$2m$4m$6mQ3 23 calls: $48.3kQ3 23 puts: $200.3kQ3 23P/C 4.15Q4 23 calls: $4.8mQ4 23 puts: $366.1kQ4 23P/C 0.08Q1 24 calls: $578.4kQ1 24 puts: $24.9kQ1 24P/C 0.04Q2 24 calls: $952.1kQ2 24 puts: $250.3kQ2 24P/C 0.26
Numbers
QuarterCallsPutsP/C
Q3 2023$48.3k$200.3k4.15
Q4 2023$4.8m$366.1k0.08
Q1 2024$578.4k$24.9k0.04
Q2 2024$952.1k$250.3k0.26

Biggest buyers

MARSHALL WACE, LLP Added +3,894,533+3.9m
RENAISSANCE TECHNOLOGIES LLC Added +2,056,054+2.1m
TWO SIGMA INVESTMENTS, LP Added +1,533,509+1.5m
D. E. Shaw & Co., Inc. Added +693,232+693.2k
BANK OF AMERICA CORP /DE/ Added +393,017+393.0k
TWO SIGMA ADVISERS, LP Added +360,600+360.6k
UBS Group AG Added +341,638+341.6k
ACADIAN ASSET MANAGEMENT LLC New +279,188+279.2k
Cubist Systematic Strategies, LLC New +227,649+227.6k
Ninety One UK Ltd Added +216,693+216.7k

Biggest sellers

GOLDMAN SACHS GROUP INC Reduced -4,036,881-4.0m
MORGAN STANLEY Reduced -2,429,368-2.4m
JPMORGAN CHASE & CO Reduced -910,960-911.0k
STATE STREET CORP Reduced -639,265-639.3k
BNP PARIBAS FINANCIAL MARKETS Reduced -516,933-516.9k
BlackRock Inc. Reduced -294,165-294.2k
MILLENNIUM MANAGEMENT LLC Reduced -287,290-287.3k
CITADEL ADVISORS LLC Reduced -255,034-255.0k
Polunin Capital Partners Ltd Reduced -230,300-230.3k
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. Sold out -176,190-176.2k

Biggest calls

GROUP ONE TRADING LLC Added $864.5k212.4k shares
SIMPLEX TRADING, LLC Reduced $60.0k14.9k shares
CITADEL ADVISORS LLC Added $27.3k6.7k shares
Optiver Holding B.V. New $407100 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

Optiver Holding B.V. New $126.2k31.0k shares
GROUP ONE TRADING LLC New $122.1k30.0k shares
CITADEL ADVISORS LLC Reduced $2.0k500 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.

HolderStakeChangeShares Last filed
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% 849.5m 2025-05-22

Fell to 5% or below in the last year: PUBLIC INVESTMENT FUND (0.0%, 2026-01-05)

Holders, Q2 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Polunin Capital Partners Ltd 12.29% of their portfolio LONDON, X0 17,715,10117.7m $72.1m $72.1m 12.29% Reduced -230.3k -230,300
2 MACQUARIE GROUP LTD 0.04% of their portfolio Sydney, NSW 2000, C3 9,221,8309.2m $37.5m $37.5m 0.04% Reduced -36.3k -36,253
3 RENAISSANCE TECHNOLOGIES LLC 0.04% of their portfolio NEW YORK, NY 5,692,8145.7m $23.2m $23.2m 0.04% Added +2.1m +2,056,054
4 MARSHALL WACE, LLP 0.03% of their portfolio LONDON, X0 4,623,0754.6m $18.8m $18.8m 0.03% Added +3.9m +3,894,533
5 TWO SIGMA INVESTMENTS, LP 0.03% of their portfolio NEW YORK, NY 2,698,8682.7m $11.0m $11.0m 0.03% Added +1.5m +1,533,509
6 BlackRock Inc. 0.00% of their portfolio New York, NY 2,424,7402.4m $9.9m $9.9m 0.00% Reduced -294.2k -294,165
7 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,046,5512.0m $8.3m $8.3m 0.00% Reduced -2.4m -2,429,368
8 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 2,045,1382.0m $8.3m $8.3m 0.01% Added +693.2k +693,232
9 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 1,842,6171.8m $7.5m $7.5m 0.01% Reduced -287.3k -287,290
10 Ninety One UK Ltd 0.02% of their portfolio London, X0 1,776,2491.8m $7.2m $7.2m 0.02% Added +216.7k +216,693
11 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 983,451983.5k $4.0m $4.0m 0.00% Reduced -639.3k -639,265
12 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 948,188948.2k $3.9m $3.9m 0.00% Added +393.0k +393,017
13 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 837,401837.4k $3.4m $3.4m 0.00% Added +45.1k +45,061
14 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 589,605589.6k $2.4m $2.4m 0.00% Reduced -255.0k -255,034
15 CLOVERFIELDS CAPITAL GROUP, LP 0.78% of their portfolio MINNEAPOLIS, MN 568,571568.6k $2.3m $2.3m 0.78% Added +3.9k +3,929
16 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 566,428566.4k $2.3m $2.3m 0.00% Reduced -911.0k -910,960
17 TWO SIGMA ADVISERS, LP 0.00% of their portfolio NEW YORK, NY 472,800472.8k $1.9m $1.9m 0.00% Added +360.6k +360,600
18 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 445,555445.6k $1.8m $1.8m 0.00% Unchanged
19 UBS Group AG 0.00% of their portfolio ZURICH, V8 393,838393.8k $1.6m $1.6m 0.00% Added +341.6k +341,638
20 NORGES BANK 0.00% of their portfolio OSLO, Q8 393,370393.4k $1.6m $1.6m 0.00% Unchanged
21 B. Riley Wealth Advisors, Inc. 0.04% of their portfolio MEMPHIS, TN 386,300386.3k $1.6m $1.6m 0.04% Added +30.3k +30,300
22 Herr Investment Group LLC 0.42% of their portfolio AUSTIN, TX 350,000350.0k $1.4m $1.4m 0.42% Reduced -50.0k -50,000
23 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 301,572301.6k $1.2m $1.2m 0.00% Reduced -17.0k -17,011
24 ACADIAN ASSET MANAGEMENT LLC 0.00% of their portfolio Boston, MA 279,188279.2k $1.1m $1.1m 0.00% New
25 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 230,636230.6k $938.7k $938.7k 0.00% Added +207.3k +207,262
26 NAVELLIER & ASSOCIATES INC 0.11% of their portfolio Reno, NV 229,617229.6k $934.5k $934.5k 0.11% Added +27.7k +27,694
27 Cubist Systematic Strategies, LLC 0.02% of their portfolio STAMFORD, CT 227,649227.6k $926.5k $926.5k 0.02% New
28 Freedom Investment Management, Inc. 0.06% of their portfolio SOUTH WINDSOR, CT 174,683174.7k $711.0k $711.0k 0.06% Added +163.1k +163,099
29 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 167,691167.7k $682.5k $682.5k 0.00% Added +64.0k +64,041
30 Connor, Clark & Lunn Investment Management Ltd. 0.00% of their portfolio VANCOUVER, A1 159,002159.0k $647.1k $647.1k 0.00% Added +105.1k +105,054
31 STOREBRAND ASSET MANAGEMENT AS 0.00% of their portfolio LYSAKER, Q8 134,069134.1k $545.7k $545.7k 0.00% Unchanged
32 NATIXIS ADVISORS, LLC 0.00% of their portfolio Boston, MA 121,875121.9k $496.0k $496.0k 0.00% New
33 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 101,312101.3k $412.3k $412.3k 0.00% Reduced -516.9k -516,933
34 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 92,73492.7k $377.0k $377.0k 0.00% New
35 Schonfeld Strategic Advisors LLC 0.00% of their portfolio NEW YORK, NY 84,00084.0k $341.9k $341.9k 0.00% New
36 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 83,95584.0k $341.7k $341.7k 0.00% Unchanged
37 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 80,40380.4k $327.2k $327.2k 0.00% New
38 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 76,96677.0k $313.0k $313.0k 0.00% Reduced -37.3k -37,294
39 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 67,30367.3k $273.9k $273.9k 0.00% Added +5.0k +4,988
40 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 67,17867.2k $273.4k $273.4k 0.00% Added +21.2k +21,197
41 GOULD ASSET MANAGEMENT LLC /CA/ 0.06% of their portfolio CLAREMONT, CA 66,91566.9k $272.3k $272.3k 0.06% Unchanged
42 Investors Research Corp 0.06% of their portfolio ATLANTA, GA 63,73263.7k $259.4k $259.4k 0.06% Reduced -700 -700
43 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 60,25660.3k $245.2k $245.2k 0.00% New
44 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 56,81956.8k $231.3k $231.3k 0.00% Added +10.0k +9,974
45 Dynamic Technology Lab Private Ltd 0.02% of their portfolio SINGAPORE, U0 53,23753.2k $217.0k $217.0k 0.02% New
46 Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio SEOUL, M5 51,72151.7k $207.9k $207.9k 0.00% Reduced -11.6k -11,648
47 Provida Pension Fund Administrator 0.01% of their portfolio LAS CONDES, SANTIAGO, F3 49,35749.4k $200.9k $200.9k 0.01% Unchanged
48 QUADRANT CAPITAL GROUP LLC 0.01% of their portfolio CINCINNATI, OH 48,32548.3k $196.7k $196.7k 0.01% Added +2.6k +2,587
49 Mariner, LLC 0.00% of their portfolio Overland Park, KS 47,32047.3k $192.6k $192.6k 0.00% Added +2.4k +2,416
50 XTX Topco Ltd 0.02% of their portfolio LONDON, X0 46,68346.7k $190.0k $190.0k 0.02% New
51 VPR Management LLC 0.07% of their portfolio HOUSTON, TX 46,00846.0k $187.3k $187.3k 0.07% Unchanged
52 Inspire Advisors, LLC 0.02% of their portfolio Meridian, ID 44,60644.6k $181.5k $181.5k 0.02% Reduced -13.7k -13,723
53 BAROMETER CAPITAL MANAGEMENT INC. 0.07% of their portfolio TORONTO, A6 43,07643.1k $175.3k $175.3k 0.07% Reduced -66.8k -66,800
54 Aigen Investment Management, LP 0.03% of their portfolio NEW YORK, NY 40,38840.4k $164.4k $164.4k 0.03% Added +19.3k +19,306
55 Vident Advisory, LLC 0.00% of their portfolio Alpharetta, GA 40,30640.3k $164.0k $164.0k 0.00% Added +3.6k +3,645
56 GSA CAPITAL PARTNERS LLP 0.01% of their portfolio LONDON, X0 38,61338.6k $157.0k $157.0k 0.01% Reduced -11.2k -11,231
57 EWA, LLC 0.06% of their portfolio PITTSBURGH, PA 38,21138.2k $142.9k $142.9k 0.06% Reduced -777 -777
58 Greytown Advisors Inc. 0.09% of their portfolio MIAMI, FL 36,50636.5k $148.6k $148.6k 0.09% Unchanged
59 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 30,30130.3k $123.3k $123.3k 0.00% Reduced -136.3k -136,324
60 Canopy Partners, LLC 0.06% of their portfolio CINCINNATI, OH 29,78129.8k $121.2k $121.2k 0.06% Added +2.0k +2,002
61 Mraz, Amerine & Associates, Inc. 0.02% of their portfolio Modesto, CA 29,72529.7k $121.0k $121.0k 0.02% Unchanged
62 Banco Santander, S.A. 0.00% of their portfolio Madrid, U3 28,62928.6k $116.5k $116.5k 0.00% Reduced -55.7k -55,744
63 SIGNATUREFD, LLC 0.00% of their portfolio ATLANTA, GA 27,87727.9k $113.5k $113.5k 0.00% Added +2.6k +2,632
64 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.00% of their portfolio Stamford, CT 25,25725.3k $102.8k $102.8k 0.00% Added +3.7k +3,676
65 Quantbot Technologies LP 0.00% of their portfolio NEW YORK, NY 24,16524.2k $98.4k $98.4k 0.00% Reduced -41.3k -41,334
66 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 23,44823.4k $95.4k $95.4k 0.00% Added +2.6k +2,555
67 Vanguard Personalized Indexing Management, LLC 0.00% of their portfolio OAKLAND, CA 22,90022.9k $92.1k $92.1k 0.00% Added +6.1k +6,113
68 PROFUND ADVISORS LLC 0.00% of their portfolio BETHESDA, MD 20,97521.0k $85.4k $85.4k 0.00% Reduced -1.3k -1,342
69 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 19,58219.6k $80.0k $80.0k 0.00% Reduced -68.8k -68,783
70 Ballentine Partners, LLC 0.00% of their portfolio Waltham, MA 18,83818.8k $76.7k $76.7k 0.00% New
71 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 17,14717.1k $69.8k $69.8k 0.00% New
72 YOUSIF CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BLOOMFIELD HILLS, MI 16,42816.4k $66.9k $66.9k 0.00% Reduced -1.4k -1,382
73 SPX Gestao de Recursos Ltda 0.01% of their portfolio RIO DE JANEIRO, D5 14,17714.2k $57.7k $57.7k 0.01% New
74 Laird Norton Wetherby Wealth Management, LLC 0.00% of their portfolio Seattle, WA 14,12014.1k $57.5k $57.5k 0.00% New
75 Kapitalo Investimentos Ltda 0.02% of their portfolio SAO PAULO, D5 13,86813.9k $56.4k $56.4k 0.02% Reduced -29.7k -29,691
76 Bayesian Capital Management, LP 0.01% of their portfolio Brooklyn, NY 12,80012.8k $52.1k $52.1k 0.01% Reduced -1.9k -1,900
77 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 12,55612.6k $51.1k $51.1k 0.00% New
78 Blue Trust, Inc. 0.00% of their portfolio BRENTWOOD, TN 12,43112.4k $40.5k $40.5k 0.00% New
79 Compound Planning, Inc. 0.00% of their portfolio NEW YORK, NY 11,77111.8k $47.9k $47.9k 0.00% New
80 Intelligence Driven Advisers, LLC 0.01% of their portfolio CARLSBAD, CA 11,45011.4k $46.6k $46.6k 0.01% Reduced -104 -104
81 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 10,59410.6k $43.1k $43.1k 0.00% New
82 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 10,28010.3k $41.8k $41.8k 0.00% Reduced -4.0m -4,036,881
83 TWO SIGMA SECURITIES, LLC 0.00% of their portfolio NEW YORK, NY 10,01610.0k $40.8k $40.8k 0.00% Reduced -53.8k -53,847
84 FMR LLC 0.00% of their portfolio BOSTON, MA 8,7888.8k $35.8k $35.8k 0.00% Reduced -5.1k -5,118
85 Avior Wealth Management, LLC 0.00% of their portfolio OMAHA, NE 8,3758.4k $34.1k $34.1k 0.00% New
86 Parallel Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 7,0147.0k $28.5k $28.5k 0.00% Added +781 +781
87 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 6,9897.0k $28.4k $28.4k 0.00% Added +6.4k +6,364
88 Lindbrook Capital, LLC 0.00% of their portfolio CALABASAS, CA 5,6735.7k $23.1k $23.1k 0.00% Added +233 +233
89 GAMMA Investing LLC 0.00% of their portfolio FOSTER CITY, CA 3,9764.0k $16.2k $16.2k 0.00% Added +2.0k +2,046
90 Point72 Asia (Singapore) Pte. Ltd. 0.00% of their portfolio SINGAPORE, U0 3,9033.9k $15.9k $15.9k 0.00% New
91 CWM, LLC 0.00% of their portfolio OMAHA, NE 2,4182.4k $10.0k $10.0k 0.00% New
92 MACROVIEW INVESTMENT MANAGEMENT LLC 0.01% of their portfolio BETHESDA, MD 1,3441.3k $5.5k $5.5k 0.01% Reduced -151 -151
93 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 1,1971.2k $4.5k $4.5k 0.00% Added +340 +340
94 Point72 (DIFC) Ltd 0.00% of their portfolio DUBAI, C0 1,1611.2k $4.7k $4.7k 0.00% New
95 Catalyst Funds Management Pty Ltd 0.00% of their portfolio SYDNEY NSW, C3 900900 $3.7k $3.7k 0.00% New
96 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 674674 $2.7k $2.7k 0.00% Reduced -6.0k -5,994
97 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 672672 $2.7k $2.7k 0.00% New
98 Smartleaf Asset Management LLC 0.00% of their portfolio BOSTON, MA 639639 $2.6k $2.6k 0.00% New
99 SJS Investment Consulting Inc. 0.00% of their portfolio SYLVANIA, OH 576576 $2.3k $2.3k 0.00% New
100 TD Waterhouse Canada Inc. 0.00% of their portfolio TORONTO, A6 415415 $1.7k $1.7k 0.00% Added +200 +200