Vault-13

PETROLEO BRASILEIRO SA PETRO PBR.A

SP ADR NON VTG · ADR · CUSIP 71654V101

Brazilian multinational oil and gas corporation

171 institutional holders +9 vs Q4 2022
240,371,646240.4m shares reported held*
$2.2bnreported value*
31 new 57 added 46 reduced 21 sold out net bought ≈ $229.1m (+22.9m 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 ($43.2k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $9.36. Options: 7 managers hold calls ($57.3m notional), 6 hold puts ($103.7m).

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 148Q4 22: 162Q1 23: 171171Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 2022148
Q4 2022162
Q1 2023171

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q4 22: 69 bought or addedQ4 22: 80 cut or sold outQ4 22Q1 23: 88 bought or addedQ1 23: 67 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 20226980
Q1 20238867

Calls vs puts

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

CallsPuts
$0$50m$100m$150mQ3 22 calls: $56.1mQ3 22 puts: $115.3mQ3 22P/C 2.06Q4 22 calls: $81.5mQ4 22 puts: $111.0mQ4 22P/C 1.36Q1 23 calls: $57.3mQ1 23 puts: $103.7mQ1 23P/C 1.81
Numbers
QuarterCallsPutsP/C
Q3 2022$56.1m$115.3m2.06
Q4 2022$81.5m$111.0m1.36
Q1 2023$57.3m$103.7m1.81

Biggest buyers

MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Added +19,973,391+20.0m
FMR LLC Added +17,388,987+17.4m
CITIGROUP INC Added +3,572,524+3.6m
Man Group plc New +2,354,928+2.4m
TT International Asset Management LTD New +1,697,288+1.7m
BLOOM TREE PARTNERS, LLC New +1,573,571+1.6m
BRANDES INVESTMENT PARTNERS, LP Added +1,202,894+1.2m
JPMORGAN CHASE & CO Added +721,659+721.7k
Cubist Systematic Strategies, LLC New +718,598+718.6k
Verition Fund Management LLC Added +631,720+631.7k

Biggest sellers

RENAISSANCE TECHNOLOGIES LLC Reduced -5,099,101-5.1m
MILLENNIUM MANAGEMENT LLC Reduced -3,998,393-4.0m
CAUSEWAY CAPITAL MANAGEMENT LLC Sold out -3,963,694-4.0m
Itau Unibanco Holding S.A. Reduced -2,488,292-2.5m
Man Group plc Sold out -2,456,461-2.5m
Capital Research Global Investors Sold out -2,081,075-2.1m
MARSHALL WACE, LLP Sold out -2,024,086-2.0m
BlackRock Inc. Reduced -1,546,114-1.5m
VOLORIDGE INVESTMENT MANAGEMENT, LLC Reduced -890,057-890.1k
VANGUARD GROUP INC Reduced -614,636-614.6k

Biggest calls

CMT Capital Markets Trading GmbH Reduced $38.4m3.7m shares
Capital Markets Trading UK LLP Reduced $15.0m1.4m shares
Optiver Holding B.V. Added $3.7m393.8k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $255.2k27.5k shares
CITADEL ADVISORS LLC Added $48.3k5.2k shares
Altshuler Shaham Ltd Unchanged $2.6k100 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

CMT Capital Markets Trading GmbH Reduced $53.3m5.1m shares
Capital Markets Trading UK LLP Reduced $45.5m4.4m shares
Optiver Holding B.V. Added $3.1m338.5k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.3m143.5k shares
CITADEL ADVISORS LLC Reduced $478.8k51.6k 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
BNDES Participacoes S.A. 13D · may seek influence -0.9 pts · filed 2026-07-20
Stated purposeThis Amendment is being filed to report a decrease in the Preferred Shares beneficially owned by the Reporting Persons, as a result of a combination of open market sales made by the Reporting Persons. As a result of the foregoing, the Preferred Shares owned by the Reporting Persons decreased from 916,700,003 to 865,743,903 (corresponding to approximately 15.90% of the Issuer's outstanding Preferred Shares). The aggregate percentages of the class beneficially owned by the Reporting Persons is calculated based on 5,446,501,379 Preferred Shares of the Issuer outstanding as of March 31, 2026, as reported in Petrobras' 6-K. The Reporting Persons may, from time to time, take such actions regarding their investment in the Preferred Shares as they deem appropriate. These actions may include: (i)… Full filing
15.9% -0.9 pts 865.7m 2026-07-20

Insider purchases and sales in Q1 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 Q1 2023.

Holders, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 FMR LLC 0.01% of their portfolio BOSTON, MA 34,644,53834.6m $321.5m $321.5m 0.01% Added +17.4m +17,388,987
2 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.08% of their portfolio Boston, MA 24,730,09924.7m $229.5m $229.5m 0.08% Added +20.0m +19,973,391
3 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.24% of their portfolio BOSTON, MA 20,377,31220.4m $189.1m $189.1m 0.24% Reduced -15.2k -15,173
4 Robeco Institutional Asset Management B.V. 0.45% of their portfolio ROTTERDAM, P7 17,802,70017.8m $165.2m $165.2m 0.45% Added +311.0k +310,969
5 DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio AUSTIN, TX 13,114,90213.1m $121.7m $121.7m 0.04% Reduced -5.6k -5,623
6 BlackRock Inc. 0.00% of their portfolio New York, NY 13,096,39113.1m $121.5m $121.5m 0.00% Reduced -1.5m -1,546,114
7 STATE OF WISCONSIN INVESTMENT BOARD 0.34% of their portfolio MADISON, WI 12,399,58712.4m $115.1m $115.1m 0.34% Added +408.1k +408,144
8 BAILLIE GIFFORD & CO 0.08% of their portfolio EDINBURGH, X0 10,020,21410.0m $93.0m $93.0m 0.08% Reduced -311.3k -311,345
9 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 8,162,1168.2m $75.7m $75.7m 0.01% Added +721.7k +721,659
10 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 7,560,0927.6m $70.2m $70.2m 0.00% Reduced -614.6k -614,636
11 Amundi 0.03% of their portfolio Paris, I0 6,652,4776.7m $64.4m $64.4m 0.03% Reduced -184.0k -184,026
12 Grantham, Mayo, Van Otterloo & Co. LLC 0.28% of their portfolio Boston, MA 5,991,5256.0m $55.6m $55.6m 0.28% Added +289.7k +289,747
13 Helikon Investments Ltd 7.12% of their portfolio LONDON, X0 5,737,4925.7m $53.2m $53.2m 7.12% Reduced -184.3k -184,308
14 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 4,875,3584.9m $45.2m $45.2m 0.00% Added +63.0k +63,009
15 Itau Unibanco Holding S.A. 2.15% of their portfolio SAO PAULO, D5 4,693,9264.7m $42.8m $42.8m 2.15% Reduced -2.5m -2,488,292
16 KGH Ltd 2.94% of their portfolio NASSAU, C5 4,070,6314.1m $37.8m $37.8m 2.94% Added +20.5k +20,531
17 CITIGROUP INC 0.04% of their portfolio NEW YORK, NY 3,573,3333.6m $33.2m $33.2m 0.04% Added +3.6m +3,572,524
18 RENAISSANCE TECHNOLOGIES LLC 0.04% of their portfolio NEW YORK, NY 3,404,8003.4m $31.6m $31.6m 0.04% Reduced -5.1m -5,099,101
19 MACQUARIE GROUP LTD 0.03% of their portfolio Sydney, NSW 2000, C3 2,785,5092.8m $25.9m $25.9m 0.03% Unchanged
20 Verition Fund Management LLC 0.37% of their portfolio GREENWICH, CT 2,500,1002.5m $23.2m $23.2m 0.37% Added +631.7k +631,720
21 Man Group plc 0.08% of their portfolio LONDON, X0 2,354,9282.4m $21.9m $21.9m 0.08% New
22 Sagil Capital LLP 22.50% of their portfolio LONDON, X0 2,300,0002.3m $21.3m $21.3m 22.50% Unchanged
23 Oldfield Partners LLP 2.67% of their portfolio LONDON, X0 1,808,4231.8m $16.8m $16.8m 2.67% Added +142.4k +142,400
24 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,722,6071.7m $16.0m $16.0m 0.00% Added +340.5k +340,456
25 TT International Asset Management LTD 1.72% of their portfolio LONDON, X0 1,697,2881.7m $15.8m $15.8m 1.72% New
26 BLOOM TREE PARTNERS, LLC 7.10% of their portfolio NEW YORK, NY 1,573,5711.6m $14.6m $14.6m 7.10% New
27 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 1,472,6941.5m $13.9m $13.9m 0.01% Added +278.7k +278,654
28 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 1,451,9771.5m $13.5m $13.5m 0.02% Reduced -4.0m -3,998,393
29 BRANDES INVESTMENT PARTNERS, LP 0.28% of their portfolio LA JOLLA, CA 1,429,2451.4m $13.3m $13.3m 0.28% Added +1.2m +1,202,894
30 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio BALA CYNWYD, PA 1,345,2191.3m $12.5m $12.5m 0.02% Added +84.5k +84,464
31 DEUTSCHE BANK AG\ 0.01% of their portfolio FRANKFURT AM MAIN, 2M 1,211,9401.2m $11.2m $11.2m 0.01% Reduced -53.7k -53,700
32 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 1,142,7941.1m $10.6m $10.6m 0.00% Added +141.0k +140,970
33 HSBC HOLDINGS PLC 0.01% of their portfolio LONDON, X0 906,024906.0k $8.4m $8.4m 0.01% Added +144.7k +144,748
34 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 905,983906.0k $8.4m $8.4m 0.00% Unchanged
35 BARINGS LLC 0.27% of their portfolio CHARLOTTE, NC 838,739838.7k $7.8m $7.8m 0.27% Added +382.2k +382,202
36 Weiss Multi-Strategy Advisers LLC 0.16% of their portfolio NEW YORK, NY 725,000725.0k $6.7m $6.7m 0.16% Added +250.0k +250,000
37 Cubist Systematic Strategies, LLC 0.06% of their portfolio STAMFORD, CT 718,598718.6k $6.7m $6.7m 0.06% New
38 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 706,376706.4k $1.0m $1.0m 0.00% Added +532.3k +532,336
39 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 657,066657.1k $6.1m $6.1m 0.00% Reduced -241.3k -241,255
40 Allspring Global Investments Holdings, LLC 0.01% of their portfolio CHARLOTTE, NC 628,399628.4k $5.8m $5.8m 0.01% Reduced -34.0k -34,027
41 Ninety One UK Ltd 0.02% of their portfolio London, X0 587,407587.4k $5.5m $5.5m 0.02% Added +54.9k +54,851
42 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 575,956576.0k $5.3m $5.3m 0.01% Reduced -63.5k -63,522
43 Manning & Napier Group, LLC 0.05% of their portfolio Fairport, NY 487,311487.3k $4.5m $4.5m 0.05% Reduced -15.5k -15,480
44 Segantii Capital Management Ltd 0.17% of their portfolio HONG KONG, K3 420,000420.0k $3.9m $3.9m 0.17% Reduced -388.6k -388,624
45 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 368,641368.6k $3.4m $3.4m 0.00% Reduced -3.6k -3,590
46 SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio London, X0 349,944349.9k $3.2m $3.2m 0.00% Reduced -22.7k -22,705
47 Herr Investment Group LLC 0.75% of their portfolio AUSTIN, TX 325,000325.0k $3.0m $3.0m 0.75% Reduced -220.0k -220,000
48 Cape Ann Asset Management Ltd 2.80% of their portfolio LONDON, X0 323,510323.5k $3.0m $3.0m 2.80% Reduced -69.9k -69,900
49 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 311,939311.9k $2.9m $2.9m 0.00% Added +268.2k +268,208
50 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 311,453311.5k $2.9m $2.9m 0.00% Unchanged
51 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 297,951298.0k $2.8m $2.8m 0.00% Added +11.4k +11,417
52 UBS Group AG 0.00% of their portfolio ZURICH, V8 275,780275.8k $2.6m $2.6m 0.00% Reduced -21.1k -21,106
53 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 273,763273.8k $2.5m $2.5m 0.00% Added +58.3k +58,261
54 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 240,413240.4k $2.2m $2.2m 0.00% Added +16.5k +16,490
55 Y-Intercept (Hong Kong) Ltd 0.25% of their portfolio HONG KONG, K3 231,285231.3k $2.1m $2.1m 0.25% Added +39.1k +39,055
56 Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio SEOUL, M5 221,675221.7k $2.1m $2.1m 0.00% Added +53.4k +53,431
57 Daiwa Securities Group Inc. 0.01% of their portfolio CHIYODA-KU,TOKYO, M0 204,800204.8k $1.9m $1.9m 0.01% Reduced -32.0k -32,000
58 NATIXIS ADVISORS, LLC 0.01% of their portfolio Boston, MA 198,303198.3k $1.8m $1.8m 0.01% Added +62.0k +61,987
59 BlueCrest Capital Management Ltd 0.19% of their portfolio ST HELIER, Y9 191,782191.8k $1.8m $1.8m 0.19% Unchanged
60 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 191,241191.2k $1.8m $1.8m 0.00% Added +7.4k +7,436
61 Crossmark Global Holdings, Inc. 0.04% of their portfolio HOUSTON, TX 181,369181.4k $1.7m $1.7m 0.04% Added +1.3k +1,251
62 Fisher Asset Management, LLC 0.00% of their portfolio PLANO, TX 164,202164.2k $1.5m $1.5m 0.00% Unchanged
63 PZENA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 159,198159.2k $1.5m $1.5m 0.01% New
64 VPR Management LLC 0.30% of their portfolio HOUSTON, TX 154,260154.3k $1.4m $1.4m 0.30% New
65 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 149,669149.7k $1.4m $1.4m 0.00% Unchanged
66 HANTZ FINANCIAL SERVICES, INC. 0.03% of their portfolio SOUTHFIELD, MI 137,958138.0k $1.3m $1.3m 0.03% Added +2.2k +2,218
67 Sageworth Trust Co 0.08% of their portfolio LANCASTER, PA 120,841120.8k $1.1m $1.1m 0.08% Unchanged
68 CANADA LIFE ASSURANCE Co 0.00% of their portfolio WINNIPEG, A2 116,961117.0k $1.1m $1.1m 0.00% Reduced -1.9k -1,898
69 SG Americas Securities, LLC 0.01% of their portfolio NEW YORK, NY 116,815116.8k $1.1m $1.1m 0.01% New
70 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 116,154116.2k $1.1m $1.1m 0.00% Reduced -30.1k -30,137
71 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 107,160107.2k $994.4k $994.4k 0.00% Reduced -63.2k -63,163
72 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.00% of their portfolio JUPITER, FL 105,627105.6k $980.2k $980.2k 0.00% Reduced -890.1k -890,057
73 HRT FINANCIAL LP 0.01% of their portfolio NEW YORK, NY 101,422101.4k $941.0k $941.0k 0.01% Added +88.3k +88,276
74 EPACRIA CAPITAL PARTNERS, LLC 0.72% of their portfolio BOULDER, CO 100,604100.6k $933.6k $933.6k 0.72% New
75 Wellington Shields Capital Management, LLC 0.11% of their portfolio NEW YORK, NY 100,000100.0k $928.0k $928.0k 0.11% Unchanged
76 PROFUND ADVISORS LLC 0.06% of their portfolio BETHESDA, MD 99,31499.3k $921.6k $921.6k 0.06% Reduced -3.6k -3,647
77 Pacer Advisors, Inc. 0.00% of their portfolio Malvern, PA 99,29499.3k $921.4k $921.4k 0.00% Added +39.3k +39,290
78 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 99,28299.3k $921.3k $921.3k 0.00% Reduced -151.0k -151,036
79 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 99,02999.0k $919.0k $919.0k 0.00% Added +17.7k +17,716
80 PHILADELPHIA TRUST CO 0.09% of their portfolio PHILADELPHIA, PA 98,26998.3k $912.0k $912.0k 0.09% New
81 Blueshift Asset Management, LLC 0.38% of their portfolio RED BANK, NJ 98,21698.2k $911.4k $911.4k 0.38% New
82 Parsec Financial Management, Inc. 0.04% of their portfolio ASHEVILLE, NC 92,00092.0k $853.8k $853.8k 0.04% Reduced -108.0k -108,000
83 Advisors Asset Management, Inc. 0.02% of their portfolio Monument, CO 88,79788.8k $824.0k $824.0k 0.02% Reduced -1.1k -1,087
84 Ergoteles LLC 0.03% of their portfolio NEW YORK, NY 88,07588.1k $817.3k $817.3k 0.03% New
85 Schechter Investment Advisors, LLC 0.07% of their portfolio BIRMINGHAM, MI 78,88278.9k $732.0k $732.0k 0.07% Added +13.5k +13,519
86 SEGALL BRYANT & HAMILL, LLC 0.01% of their portfolio CHICAGO, IL 78,80078.8k $731.0k $731.0k 0.01% Unchanged
87 Donoghue Forlines LLC 0.26% of their portfolio Boston, MA 78,61778.6k $729.6k $729.6k 0.26% Reduced -4.5k -4,469
88 Port Capital LLC 0.04% of their portfolio CHICAGO, IL 74,10174.1k $688.0k $688.0k 0.04% Unchanged
89 CANTOR FITZGERALD, L. P. 0.01% of their portfolio NEW YORK, NY 73,98774.0k $686.6k $686.6k 0.01% Reduced -13.5k -13,542
90 BOOTHBAY FUND MANAGEMENT, LLC 0.02% of their portfolio NEW YORK, NY 68,97169.0k $640.1k $640.1k 0.02% New
91 NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC 0.02% of their portfolio MILWAUKEE, WI 67,97768.0k $630.8k $630.8k 0.02% New
92 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 62,74562.7k $582.3k $582.3k 0.00% Added +10.2k +10,171
93 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 60,32460.3k $559.8k $559.8k 0.00% Added +147 +147
94 Employees Retirement System of Texas 0.01% of their portfolio AUSTIN, TX 59,48059.5k $552.0k $552.0k 0.01% Unchanged
95 PATHSTONE FAMILY OFFICE, LLC 0.01% of their portfolio ENGLEWOOD, NJ 52,60552.6k $488.2k $488.2k 0.01% Added +567 +567
96 Aspen Grove Capital, LLC 0.20% of their portfolio AVON, CO 50,00050.0k $464.0k $464.0k 0.20% Unchanged
97 SEVEN EIGHT CAPITAL, LP 0.10% of their portfolio New York, NY 49,21049.2k $456.7k $456.7k 0.10% Added +14.0k +14,032
98 ABN AMRO INVESTMENT SOLUTIONS 0.01% of their portfolio PARIS CEDEX 008, I0 48,66048.7k $451.6k $451.6k 0.01% First filing
99 SIMPLEX TRADING, LLC 0.02% of their portfolio CHICAGO, IL 48,27048.3k $447.0k $447.0k 0.02% Added +16.5k +16,499
100 YOUSIF CAPITAL MANAGEMENT, LLC 0.01% of their portfolio BLOOMFIELD HILLS, MI 46,81546.8k $434.4k $434.4k 0.01% Unchanged