PETROLEO BRASILEIRO SA PETRO PBR.A
SP ADR NON VTG · ADR · CUSIP 71654V101
Brazilian multinational oil and gas corporation
- SectorEnergy
- IndustryCrude Petroleum & Natural Gas
- HeadquartersRio de Janeiro, Brazil
- Founded1953
- Websitepetrobras.com.br
- FilingsSEC EDGAR
* 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 ≈ $11.56. Options: 6 managers hold calls ($15.9m notional), 6 hold puts ($27.3m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 148 |
| Q4 2022 | 162 |
| Q1 2023 | 171 |
| Q2 2023 | 165 |
| Q3 2023 | 174 |
| Q4 2023 | 174 |
| Q1 2024 | 179 |
| Q2 2024 | 187 |
| Q3 2024 | 193 |
| Q4 2024 | 185 |
| Q1 2025 | 196 |
| Q2 2025 | 192 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 72 | 83 |
| Q4 2023 | 74 | 80 |
| Q1 2024 | 74 | 81 |
| Q2 2024 | 87 | 78 |
| Q3 2024 | 94 | 79 |
| Q4 2024 | 71 | 96 |
| Q1 2025 | 98 | 83 |
| Q2 2025 | 112 | 73 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $19.3m | $27.1m | 1.40 |
| Q4 2024 | $22.8m | $39.2m | 1.72 |
| Q1 2025 | $195.6m | $34.1m | 0.17 |
| Q2 2025 | $15.9m | $27.3m | 1.72 |
Biggest buyers
| GOLDMAN SACHS GROUP INC | Added | +2.7m |
| Optiver Holding B.V. | Added | +1.6m |
| BRANDES INVESTMENT PARTNERS, LP | Added | +1.2m |
| ROYAL BANK OF CANADA | Added | +1.1m |
| BlackRock, Inc. | Added | +948.2k |
| MARSHALL WACE, LLP | New | +890.4k |
| Y-Intercept (Hong Kong) Ltd | Added | +783.2k |
| RENAISSANCE TECHNOLOGIES LLC | Added | +615.1k |
| Ranmore Fund Management Ltd | Added | +550.0k |
| Virtu Financial LLC | Added | +530.9k |
Biggest sellers
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Sold out | -13.3m |
| Itau Unibanco Holding S.A. | Reduced | -6.1m |
| CONTRARIAN CAPITAL MANAGEMENT, L.L.C. | Sold out | -1.4m |
| Grantham, Mayo, Van Otterloo & Co. LLC | Reduced | -904.5k |
| VANGUARD GROUP INC | Reduced | -881.2k |
| JPMORGAN CHASE & CO | Reduced | -854.1k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -671.1k |
| Alberta Investment Management Corp | Sold out | -637.3k |
| Robeco Institutional Asset Management B.V. | Reduced | -599.4k |
| MANNING & NAPIER ADVISORS LLC | Sold out | -322.5k |
Biggest calls
| Capital Markets Trading UK LLP | Reduced | $6.9m546.8k shares |
| CMT Capital Markets Trading GmbH | Reduced | $5.2m413.7k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $2.8m242.3k shares |
| Optiver Holding B.V. | Reduced | $1.0m87.3k shares |
| GROUP ONE TRADING LLC | Reduced | $42.7k3.7k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| Capital Markets Trading UK LLP | Added | $15.4m1.2m shares |
| CMT Capital Markets Trading GmbH | Reduced | $7.4m593.5k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $2.7m231.5k shares |
| Optiver Holding B.V. | Added | $1.6m141.3k shares |
| GROUP ONE TRADING LLC | New | $154.6k13.4k 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 |
|---|---|
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% |
Insider purchases and sales in Q2 2025
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 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| JPMORGAN CHASE & CO 0.02% of their portfolio | 23.0m $265.2m | Reduced -854.1k |
| Robeco Institutional Asset Management B.V. 0.42% of their portfolio | 22.4m $258.1m | Reduced -599.4k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.05% of their portfolio | 14.6m $168.6m | Reduced -671.1k |
| BlackRock, Inc. 0.00% of their portfolio | 12.1m $140.1m | Added +948.2k |
| BAILLIE GIFFORD & CO 0.06% of their portfolio | 6.5m $75.4m | Reduced -270.2k |
| Amundi 0.03% of their portfolio | 6.5m $77.3m | Added +12.4k |
| FMR LLC 0.00% of their portfolio | 6.3m $73.2m | Reduced -189.9k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 6.3m $72.6m | Added +2.7m |
| MACQUARIE GROUP LTD 0.09% of their portfolio | 6.2m $71.4m | Unchanged |
| Itau Unibanco Holding S.A. 2.67% of their portfolio | 6.1m $70.2m | Reduced -6.1m |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 5.9m $67.5m | Added +210.2k |
| STATE STREET CORP 0.00% of their portfolio | 5.3m $63.2m | Added +247.0k |
| BRANDES INVESTMENT PARTNERS, LP 0.47% of their portfolio | 4.5m $52.1m | Added +1.2m |
| RENAISSANCE TECHNOLOGIES LLC 0.07% of their portfolio | 4.5m $51.8m | Added +615.1k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 3.3m $38.6m | Added +467.5k |
| VANGUARD GROUP INC 0.00% of their portfolio | 3.2m $36.8m | Reduced -881.2k |
| Ranmore Fund Management Ltd 9.31% of their portfolio | 2.0m $23.4m | Added +550.0k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 1.9m $21.7m | Added +25.2k |
| Optiver Holding B.V. 0.55% of their portfolio | 1.8m $20.3m | Added +1.6m |
| SPX Gestao de Recursos Ltda 1.86% of their portfolio | 1.7m $19.9m | Added +486.8k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.04% of their portfolio | 1.6m $18.3m | Added +506.3k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 1.5m $17.8m | Added +1.1m |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 1.4m $16.7m | Added +217.2k |
| MORGAN STANLEY 0.00% of their portfolio | 1.2m $14.3m | Added +386.4k |
| Sagil Capital LLP 7.67% of their portfolio | 1.2m $14.3m | Added +107.8k |
| Allspring Global Investments Holdings, LLC 0.02% of their portfolio | 1.2m $13.9m | Added +150.6k |
| Invesco Ltd. 0.00% of their portfolio | 1.2m $13.3m | Added +373.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 1.1m $13.2m | Added +161.8k |
| BARCLAYS PLC 0.01% of their portfolio | 1.1m $12.9m | Added +10.5k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.01% of their portfolio | 986.9k $11.4m | Added +33.6k |
| HSBC HOLDINGS PLC 0.01% of their portfolio | 937.9k $10.8m | Added +165.4k |
| Y-Intercept (Hong Kong) Ltd 0.26% of their portfolio | 934.3k $10.8m | Added +783.2k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 892.5k $10.3m | Reduced -230.9k |
| MARSHALL WACE, LLP 0.01% of their portfolio | 890.4k $10.3m | New |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.03% of their portfolio | 733.6k $8.5m | Reduced -904.5k |
| UBS Group AG 0.00% of their portfolio | 715.7k $8.3m | Added +527.8k |
| BARINGS LLC 0.18% of their portfolio | 680.2k $7.8m | Reduced -41.3k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 645.4k $7.4m | Added +190.6k |
| Virtu Financial LLC 0.33% of their portfolio | 562.4k $6.5m | Added +530.9k |
| Oldfield Partners LLP 1.99% of their portfolio | 502.2k $5.8m | Reduced -78.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 485.1k $5.6m | Reduced -88.5k |
| Cape Ann Asset Management Ltd 2.25% of their portfolio | 454.6k $5.2m | Unchanged |
| LRT Capital Management, LLC 2.34% of their portfolio | 342.4k $4.0m | Added +71.3k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 296.2k $3.4m | Added +13.6k |
| NATIXIS ADVISORS, LLC 0.00% of their portfolio | 257.4k $3.0m | Added +77.8k |
| PINEBRIDGE INVESTMENTS, L.P. 0.02% of their portfolio | 255.0k $2.9m | Unchanged |
| Verde Servicos Internacionais S.A. 1.25% of their portfolio | 247.3k $2.9m | Added +161.5k |
| XTX Topco Ltd 0.12% of their portfolio | 240.4k $2.8m | New |
| PZENA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 230.4k $2.7m | Added +37.7k |
| HANTZ FINANCIAL SERVICES, INC. 0.04% of their portfolio | 220.1k $2.5m | Added +54.3k |
| DEPRINCE RACE & ZOLLO INC 0.05% of their portfolio | 211.1k $2.4m | Reduced -57.0k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 210.7k $2.4m | Added +51.9k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 208.3k $2.4m | Added +62.7k |
| Crossmark Global Holdings, Inc. 0.04% of their portfolio | 190.5k $2.2m | Reduced -92 |
| Farringdon Capital, Ltd. 0.65% of their portfolio | 168.6k $1.9m | Reduced -252.9k |
| Engineers Gate Manager LP 0.02% of their portfolio | 167.1k $1.9m | Added +79.2k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 166.4k $1.9m | Reduced -69.0k |
| VPR Management LLC 0.84% of their portfolio | 154.3k $1.8m | Unchanged |
| Schonfeld Strategic Advisors LLC 0.01% of their portfolio | 150.3k $1.7m | Reduced -227.5k |
| STIFEL FINANCIAL CORP 0.00% of their portfolio | 139.6k $1.6m | Added +42.4k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 137.4k $1.6m | Added +121.6k |
| Hennion & Walsh Asset Management, Inc. 0.06% of their portfolio | 128.4k $1.5m | Reduced -1.9k |
| CANADA LIFE ASSURANCE Co 0.00% of their portfolio | 123.1k $1.4m | Reduced -11.4k |
| COMMONS CAPITAL, LLC 1.06% of their portfolio | 120.0k $1.4m | Added +80.0k |
| Aberdeen Group plc 0.00% of their portfolio | 120.0k $1.4m | Added +26.5k |
| Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio | 113.3k $1.3m | Added +4.8k |
| Obermeyer Wealth Partners 0.06% of their portfolio | 110.7k $1.3m | Added +26.4k |
| Constellation Investimentos e Participacoes Ltda 2.23% of their portfolio | 108.1k $1.2m | Reduced -43.4k |
| HighVista Strategies LLC 0.45% of their portfolio | 105.0k $1.2m | Added +16.0k |
| Mutual Advisors, LLC 0.03% of their portfolio | 104.2k $1.2m | Reduced -1.4k |
| Headlands Technologies LLC 0.14% of their portfolio | 102.5k $1.2m | Added +93.1k |
| Wellington Shields Capital Management, LLC 0.20% of their portfolio | 100.0k $1.2m | Unchanged |
| Trexquant Investment LP 0.01% of their portfolio | 94.4k $1.1m | Added +56.7k |
| Advisors Asset Management, Inc. 0.02% of their portfolio | 92.0k $1.1m | Added +6.9k |
| PROFUND ADVISORS LLC 0.04% of their portfolio | 90.5k $1.0m | Reduced -4.6k |
| LANARK FINANCIAL, INC. 0.08% of their portfolio | 85.1k $982.0k | Added +18.3k |
| Daiwa Securities Group Inc. 0.00% of their portfolio | 84.6k $976.0k | Added +21.0k |
| PLATINUM INVESTMENT MANAGEMENT LTD 0.06% of their portfolio | 78.2k $902.3k | Added +6.9k |
| NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio | 77.0k $888.2k | Reduced -3.2k |
| Qtron Investments LLC 0.11% of their portfolio | 73.6k $848.9k | Added +9.8k |
| NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC 0.01% of their portfolio | 73.1k $843.2k | Reduced -563 |
| B. Metzler seel. Sohn & Co. AG 0.01% of their portfolio | 70.4k $812.1k | Unchanged |
| LPL Financial LLC 0.00% of their portfolio | 68.8k $794.0k | Added +12.9k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 67.8k $782.0k | Reduced -21.4k |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio | 66.9k $796.4k | Added +12.7k |
| OPPENHEIMER ASSET MANAGEMENT INC. 0.01% of their portfolio | 64.5k $744.0k | Added +16.4k |
| Port Capital LLC 0.03% of their portfolio | 62.5k $721.0k | Unchanged |
| Corient Private Wealth LP 0.00% of their portfolio | 57.0k $658.1k | Added +12.1k |
| Squarepoint Ops LLC 0.00% of their portfolio | 55.5k $640.1k | Reduced -27.7k |
| SEGALL BRYANT & HAMILL, LLC 0.01% of their portfolio | 54.1k $624.3k | Reduced -6.2k |
| Gotham Asset Management, LLC 0.00% of their portfolio | 50.3k $580.5k | Added +15.3k |
| Balyasny Asset Management L.P. 0.00% of their portfolio | 49.2k $567.5k | Reduced -6.1k |
| ABC ARBITRAGE SA 0.06% of their portfolio | 47.9k $553.0k | Reduced -40.7k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 45.7k $526.9k | Added +7.7k |
| YOUSIF CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 45.2k $521.1k | Added +2.4k |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 45.0k $519.2k | Added +15.5k |
| Cerity Partners LLC 0.00% of their portfolio | 42.8k $494.1k | Reduced -152 |
| VAN ECK ASSOCIATES CORP 0.00% of their portfolio | 42.1k $486.0k | Added +1.2k |
| Graham Capital Management, L.P. 0.01% of their portfolio | 41.0k $473.0k | New |
| QRG CAPITAL MANAGEMENT, INC. 0.00% of their portfolio | 33.0k $381.3k | Reduced -9.6k |