Vault-13

PETROLEO BRASILEIRO SA PETRO PBR.A

SP ADR NON VTG · ADR · CUSIP 71654V101

Brazilian multinational oil and gas corporation

174 institutional holders +0 vs Q3 2023
285,736,040285.7m shares reported held*
$4.4bnreported value*
21 new 53 added 57 reduced 23 sold out net bought ≈ $640.4m (+44.1m 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 ($1.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $15.29. Options: 7 managers hold calls ($151.1m notional), 7 hold puts ($96.7m).

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 148Q4 22: 162Q1 23: 171Q2 23: 165Q3 23: 174Q4 23: 174174Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 2022148
Q4 2022162
Q1 2023171
Q2 2023165
Q3 2023174
Q4 2023174

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 23Q2 23: 78 bought or addedQ2 23: 75 cut or sold outQ2 23Q3 23: 72 bought or addedQ3 23: 83 cut or sold outQ3 23Q4 23: 74 bought or addedQ4 23: 80 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 20226980
Q1 20238867
Q2 20237875
Q3 20237283
Q4 20237480

Calls vs puts

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

CallsPuts
$0$50m$100m$150m$200mQ1 23 calls: $57.3mQ1 23 puts: $103.7mQ1 23P/C 1.81Q2 23 calls: $58.2mQ2 23 puts: $122.0mQ2 23P/C 2.10Q3 23 calls: $106.3mQ3 23 puts: $112.0mQ3 23P/C 1.05Q4 23 calls: $151.1mQ4 23 puts: $96.7mQ4 23P/C 0.64
Numbers
QuarterCallsPutsP/C
Q1 2023$57.3m$103.7m1.81
Q2 2023$58.2m$122.0m2.10
Q3 2023$106.3m$112.0m1.05
Q4 2023$151.1m$96.7m0.64

Biggest buyers

JPMORGAN CHASE & CO Added +46,515,699+46.5m
MORGAN STANLEY Added +11,780,695+11.8m
Robeco Institutional Asset Management B.V. Added +3,466,488+3.5m
GOLDMAN SACHS GROUP INC Added +3,386,181+3.4m
CAUSEWAY CAPITAL MANAGEMENT LLC Added +1,434,494+1.4m
BlackRock Inc. Added +1,394,778+1.4m
Itau Unibanco Holding S.A. Added +1,328,796+1.3m
BRANDES INVESTMENT PARTNERS, LP Added +772,293+772.3k
Man Group plc New +708,199+708.2k
SPX Gestao de Recursos Ltda Added +661,245+661.2k

Biggest sellers

WINDACRE PARTNERSHIP LLC Reduced -6,990,000-7.0m
STATE OF WISCONSIN INVESTMENT BOARD Sold out -6,759,519-6.8m
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Reduced -4,076,994-4.1m
Man Group plc Sold out -2,304,772-2.3m
Sagil Capital LLP Sold out -1,485,000-1.5m
Grantham, Mayo, Van Otterloo & Co. LLC Reduced -1,367,407-1.4m
Weiss Multi-Strategy Advisers LLC Sold out -1,274,609-1.3m
KGH Ltd Reduced -930,000-930.0k
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Reduced -851,665-851.7k
RENAISSANCE TECHNOLOGIES LLC Reduced -741,400-741.4k

Biggest calls

Optiver Holding B.V. Added $62.9m4.1m shares
Capital Markets Trading UK LLP Added $33.1m2.1m shares
CMT Capital Markets Trading GmbH Reduced $24.3m1.5m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $22.5m1.5m shares
GROUP ONE TRADING LLC Added $7.7m505.7k shares
CITADEL ADVISORS LLC Reduced $632.6k41.4k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

Capital Markets Trading UK LLP Reduced $47.9m3.0m shares
CMT Capital Markets Trading GmbH Reduced $38.8m2.4m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $4.8m315.9k shares
Optiver Holding B.V. Reduced $3.0m195.1k shares
CITADEL ADVISORS LLC Reduced $2.1m140.2k shares
GROUP ONE TRADING LLC Added $132.9k8.7k 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 Q4 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 Q4 2023.

Holders, Q4 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.04% of their portfolio NEW YORK, NY 54,123,25454.1m $827.0m $827.0m 0.04% Added +46.5m +46,515,699
2 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.12% of their portfolio Boston, MA 23,348,88923.3m $356.8m $356.8m 0.12% Reduced -4.1m -4,076,994
3 Robeco Institutional Asset Management B.V. 0.80% of their portfolio ROTTERDAM, P7 21,667,45021.7m $331.1m $331.1m 0.80% Added +3.5m +3,466,488
4 WINDACRE PARTNERSHIP LLC 4.98% of their portfolio HOUSTON, TX 21,466,00021.5m $328.0m $328.0m 4.98% Reduced -7.0m -6,990,000
5 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.30% of their portfolio BOSTON, MA 18,649,89118.6m $285.0m $285.0m 0.30% Reduced -851.7k -851,665
6 FMR LLC 0.02% of their portfolio BOSTON, MA 14,172,04914.2m $216.5m $216.5m 0.02% Reduced -367.9k -367,950
7 BlackRock Inc. 0.01% of their portfolio New York, NY 13,949,14113.9m $213.1m $213.1m 0.01% Added +1.4m +1,394,778
8 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 13,696,41013.7m $209.3m $209.3m 0.01% Added +11.8m +11,780,695
9 DIMENSIONAL FUND ADVISORS LP 0.05% of their portfolio AUSTIN, TX 11,486,33911.5m $175.5m $175.5m 0.05% Reduced -403.9k -403,886
10 GOLDMAN SACHS GROUP INC 0.03% of their portfolio NEW YORK, NY 8,957,2889.0m $136.9m $136.9m 0.03% Added +3.4m +3,386,181
11 BAILLIE GIFFORD & CO 0.10% of their portfolio EDINBURGH, X0 8,483,9878.5m $129.6m $129.6m 0.10% Reduced -432.8k -432,830
12 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 7,474,3457.5m $114.2m $114.2m 0.00% Added +7.1k +7,144
13 Itau Unibanco Holding S.A. 3.66% of their portfolio SAO PAULO, D5 7,257,4737.3m $111.3m $111.3m 3.66% Added +1.3m +1,328,796
14 Amundi 0.05% of their portfolio Paris, I0 6,738,8516.7m $104.1m $104.1m 0.05% Reduced -570.2k -570,195
15 KGH Ltd 4.69% of their portfolio NASSAU, C5 5,350,0005.3m $81.7m $81.7m 4.69% Reduced -930.0k -930,000
16 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 4,820,5964.8m $76.3m $76.3m 0.00% Added +240.9k +240,921
17 Grantham, Mayo, Van Otterloo & Co. LLC 0.30% of their portfolio Boston, MA 4,465,7724.5m $68.2m $68.2m 0.30% Reduced -1.4m -1,367,407
18 CAUSEWAY CAPITAL MANAGEMENT LLC 1.58% of their portfolio LOS ANGELES, CA 4,058,5984.1m $62.0m $62.0m 1.58% Added +1.4m +1,434,494
19 Coronation Fund Managers Ltd. 1.43% of their portfolio Cape Town, T3 3,354,1403.4m $51.3m $51.3m 1.43% Added +457.9k +457,866
20 MACQUARIE GROUP LTD 0.05% of their portfolio Sydney, NSW 2000, C3 2,785,5092.8m $42.6m $42.6m 0.05% Unchanged
21 BRANDES INVESTMENT PARTNERS, LP 0.51% of their portfolio LA JOLLA, CA 2,199,7362.2m $33.6m $33.6m 0.51% Added +772.3k +772,293
22 AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio KANSAS CITY, MO 2,035,3192.0m $31.1m $31.1m 0.02% Added +220.9k +220,901
23 MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio NEW YORK, NY 1,925,0061.9m $29.4m $29.4m 0.03% Added +21.3k +21,267
24 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,477,0051.5m $22.6m $22.6m 0.00% Reduced -213.4k -213,432
25 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 1,258,4691.3m $19.2m $19.2m 0.00% Reduced -3.2k -3,187
26 Verition Fund Management LLC 0.19% of their portfolio GREENWICH, CT 1,250,0001.2m $19.1m $19.1m 0.19% Reduced -503.0k -503,000
27 Oldfield Partners LLP 2.46% of their portfolio LONDON, X0 1,173,9231.2m $17.9m $17.9m 2.46% Reduced -340.7k -340,700
28 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 905,983906.0k $13.8m $13.8m 0.00% Unchanged
29 Allspring Global Investments Holdings, LLC 0.02% of their portfolio CHARLOTTE, NC 889,357889.4k $13.6m $13.6m 0.02% Added +123.5k +123,510
30 SPX Gestao de Recursos Ltda 0.98% of their portfolio RIO DE JANEIRO, D5 826,840826.8k $12.6m $12.6m 0.98% Added +661.2k +661,245
31 SCHRODER INVESTMENT MANAGEMENT GROUP 0.02% of their portfolio London, X0 807,134807.1k $12.3m $12.3m 0.02% Added +19.3k +19,308
32 BARCLAYS PLC 0.01% of their portfolio LONDON, X0 792,000792.0k $12.1m $12.1m 0.01% Added +317.3k +317,303
33 HSBC HOLDINGS PLC 0.01% of their portfolio LONDON, X0 785,668785.7k $12.0m $12.0m 0.01% Reduced -113.9k -113,929
34 Man Group plc 0.03% of their portfolio LONDON, X0 708,199708.2k $10.8m $10.8m 0.03% New
35 BARINGS LLC 0.32% of their portfolio CHARLOTTE, NC 648,301648.3k $9.9m $9.9m 0.32% Unchanged
36 Herr Investment Group LLC 2.54% of their portfolio AUSTIN, TX 621,084621.1k $9.5m $9.5m 2.54% Unchanged
37 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 609,153609.2k $9.3m $9.3m 0.00% Added +141.6k +141,600
38 Holowesko Partners Ltd. 3.13% of their portfolio Nassau, C5 569,000569.0k $8.7m $8.7m 3.13% Unchanged
39 Russell Investments Group, Ltd. 0.02% of their portfolio Seattle, WA 559,093559.1k $8.5m $8.5m 0.02% Reduced -66.1k -66,062
40 Alberta Investment Management Corp 0.07% of their portfolio EDMONTON, A0 516,840516.8k $7.9m $7.9m 0.07% New
41 Franchise Capital Ltd 0.89% of their portfolio GRAND CAYMAN, E9 446,042446.0k $6.8m $6.8m 0.89% Added +204.8k +204,762
42 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 357,334357.3k $5.5m $5.5m 0.00% Reduced -10.1k -10,091
43 Cape Ann Asset Management Ltd 4.60% of their portfolio LONDON, X0 333,910333.9k $5.1m $5.1m 4.60% Reduced -16.9k -16,900
44 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 326,059326.1k $5.0m $5.0m 0.00% Added +15.0k +15,002
45 UBS Group AG 0.00% of their portfolio ZURICH, V8 309,433309.4k $4.7m $4.7m 0.00% Added +27.0k +26,977
46 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 294,380294.4k $4.5m $4.5m 0.00% Added +13.2k +13,238
47 DEPRINCE RACE & ZOLLO INC 0.10% of their portfolio Winter Park, FL 278,100278.1k $4.2m $4.2m 0.10% Unchanged
48 Trexquant Investment LP 0.09% of their portfolio STAMFORD, CT 272,792272.8k $4.2m $4.2m 0.09% Reduced -201.3k -201,319
49 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 262,866262.9k $4.0m $4.0m 0.00% Reduced -21.1k -21,124
50 MARSHALL WACE, LLP 0.01% of their portfolio LONDON, X0 237,027237.0k $3.6m $3.6m 0.01% Added +130.1k +130,147
51 Anthracite Investment Company, Inc. 2.31% of their portfolio FORT WORTH, TX 235,000235.0k $3.6m $3.6m 2.31% First filing
52 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 215,995216.0k $3.3m $3.3m 0.00% Reduced -10.8k -10,800
53 Crossmark Global Holdings, Inc. 0.07% of their portfolio HOUSTON, TX 212,886212.9k $3.3m $3.3m 0.07% Added +39.1k +39,146
54 Mirae Asset Global Investments Co., Ltd. 0.01% of their portfolio SEOUL, M5 193,165193.2k $3.0m $3.0m 0.01% Reduced -8.5k -8,508
55 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 190,640190.6k $2.9m $2.9m 0.00% Reduced -523.8k -523,819
56 NATIXIS ADVISORS, LLC 0.01% of their portfolio Boston, MA 180,050180.1k $2.8m $2.8m 0.01% Reduced -12.6k -12,602
57 PZENA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 167,994168.0k $2.6m $2.6m 0.01% Reduced -709 -709
58 Fisher Asset Management, LLC 0.00% of their portfolio PLANO, TX 167,675167.7k $2.6m $2.6m 0.00% New
59 VPR Management LLC 0.61% of their portfolio HOUSTON, TX 154,260154.3k $2.4m $2.4m 0.61% Unchanged
60 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 145,747145.7k $2.2m $2.2m 0.00% Added +20.5k +20,459
61 HANTZ FINANCIAL SERVICES, INC. 0.05% of their portfolio SOUTHFIELD, MI 143,252143.3k $2.2m $2.2m 0.05% Reduced -3.1k -3,069
62 Daiwa Securities Group Inc. 0.01% of their portfolio CHIYODA-KU,TOKYO, M0 140,800140.8k $2.2m $2.2m 0.01% Reduced -21.0k -21,000
63 CANTOR FITZGERALD, L. P. 0.42% of their portfolio NEW YORK, NY 133,278133.3k $2.0m $2.0m 0.42% Added +7.9k +7,905
64 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 132,758132.8k $2.0m $2.0m 0.00% Added +9.3k +9,279
65 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 115,922115.9k $1.8m $1.8m 0.00% Added +1.1k +1,070
66 State of New Jersey Common Pension Fund D 0.01% of their portfolio TRENTON, NJ 107,320107.3k $1.6m $1.6m 0.01% Unchanged
67 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 106,100106.1k $1.6m $1.6m 0.00% Reduced -741.4k -741,400
68 CANADA LIFE ASSURANCE Co 0.00% of their portfolio WINNIPEG, A2 105,285105.3k $1.6m $1.6m 0.00% Reduced -127.5k -127,485
69 SEVEN EIGHT CAPITAL, LP 0.19% of their portfolio New York, NY 104,751104.8k $1.6m $1.6m 0.19% Added +58.0k +57,990
70 PROFUND ADVISORS LLC 0.07% of their portfolio BETHESDA, MD 103,026103.0k $1.6m $1.6m 0.07% Added +6.9k +6,855
71 Cederberg Capital Ltd 0.36% of their portfolio LONDON, X0 103,000103.0k $1.6m $1.6m 0.36% Unchanged
72 Wellington Shields Capital Management, LLC 0.19% of their portfolio NEW YORK, NY 100,000100.0k $1.5m $1.5m 0.19% Unchanged
73 Pacer Advisors, Inc. 0.00% of their portfolio Malvern, PA 97,58397.6k $1.5m $1.5m 0.00% Reduced -15.1k -15,126
74 Y-Intercept (Hong Kong) Ltd 0.14% of their portfolio HONG KONG, K3 97,01697.0k $1.5m $1.5m 0.14% New
75 Advisors Asset Management, Inc. 0.03% of their portfolio Monument, CO 96,40396.4k $1.5m $1.5m 0.03% Added +4.6k +4,581
76 Financiere des Professionnels - Fonds d'investissement inc. 0.13% of their portfolio MONTREAL, A8 94,38194.4k $1.4m $1.4m 0.13% Reduced -33.1k -33,105
77 Squarepoint Ops LLC 0.01% of their portfolio NEW YORK, NY 93,54493.5k $1.4m $1.4m 0.01% Reduced -89.4k -89,391
78 DELTEC ASSET MANAGEMENT LLC 0.31% of their portfolio New York, NY 90,25090.2k $1.4m $1.4m 0.31% Added +68.5k +68,500
79 EPACRIA CAPITAL PARTNERS, LLC 1.06% of their portfolio BOULDER, CO 86,61686.6k $1.3m $1.3m 1.06% Unchanged
80 SEGALL BRYANT & HAMILL, LLC 0.02% of their portfolio CHICAGO, IL 82,20082.2k $1.3m $1.3m 0.02% Unchanged
81 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 80,15980.2k $1.2m $1.2m 0.00% Reduced -10.7k -10,678
82 Port Capital LLC 0.06% of their portfolio CHICAGO, IL 74,10174.1k $1.1m $1.1m 0.06% Unchanged
83 Mutual Advisors, LLC 0.04% of their portfolio OMAHA, NE 73,34773.3k $1.1m $1.1m 0.04% New
84 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 73,14973.1k $1.1m $1.1m 0.00% Added +1.7k +1,652
85 NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC 0.03% of their portfolio MILWAUKEE, WI 70,06870.1k $1.1m $1.1m 0.03% Reduced -8.1k -8,075
86 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 66,02166.0k $1.0m $1.0m 0.00% New
87 Balyasny Asset Management L.P. 0.00% of their portfolio Chicago, IL 61,98362.0k $947.1k $947.1k 0.00% New
88 Hennion & Walsh Asset Management, Inc. 0.05% of their portfolio Parsippany, NJ 60,50960.5k $924.6k $924.6k 0.05% Added +22.5k +22,548
89 Employees Retirement System of Texas 0.01% of their portfolio AUSTIN, TX 59,48059.5k $909.0k $909.0k 0.01% Unchanged
90 PHILADELPHIA TRUST CO 0.09% of their portfolio PHILADELPHIA, PA 59,30159.3k $906.0k $906.0k 0.09% Reduced -6.7k -6,718
91 Schechter Investment Advisors, LLC 0.08% of their portfolio BIRMINGHAM, MI 58,65458.7k $896.2k $896.2k 0.08% Reduced -16.6k -16,622
92 QRG CAPITAL MANAGEMENT, INC. 0.01% of their portfolio BERWYN, PA 58,25258.3k $890.1k $890.1k 0.01% Added +7.5k +7,491
93 Donoghue Forlines LLC 0.26% of their portfolio Boston, MA 54,82454.8k $837.7k $837.7k 0.26% Reduced -1.2k -1,249
94 Engineers Gate Manager LP 0.02% of their portfolio NEW YORK, NY 50,52650.5k $772.0k $772.0k 0.02% Reduced -1.7k -1,746
95 SG Americas Securities, LLC 0.01% of their portfolio NEW YORK, NY 50,26350.3k $768.0k $768.0k 0.01% Added +5.5k +5,460
96 YOUSIF CAPITAL MANAGEMENT, LLC 0.01% of their portfolio BLOOMFIELD HILLS, MI 45,49545.5k $695.2k $695.2k 0.01% Unchanged
97 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 43,54443.5k $665.4k $665.4k 0.00% Reduced -241.4k -241,400
98 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 39,21139.2k $599.1k $599.1k 0.00% Added +1.2k +1,167
99 LANARK FINANCIAL, INC. 0.06% of their portfolio BIRMINGHAM, AL 38,00438.0k $580.0k $580.0k 0.06% Added +278 +278
100 ATLAS CAPITAL ADVISORS INC. 0.08% of their portfolio JACKSON, WY 37,31537.3k $570.2k $570.2k 0.08% Added +3.6k +3,573