PETROLEO BRASILEIRO SA PETRO PBR
SPONSORED ADR · ADR · CUSIP 71654V408 · ISIN US71654V4086
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 ($34.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $12.51. Options: 28 managers hold calls ($370.0m notional), 29 hold puts ($461.7m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 414 |
| Q4 2022 | 413 |
| Q1 2023 | 420 |
| Q2 2023 | 401 |
| Q3 2023 | 436 |
| Q4 2023 | 467 |
| Q1 2024 | 499 |
| Q2 2024 | 490 |
| Q3 2024 | 489 |
| Q4 2024 | 486 |
| Q1 2025 | 477 |
| Q2 2025 | 486 |
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 | 213 | 164 |
| Q4 2023 | 236 | 182 |
| Q1 2024 | 278 | 191 |
| Q2 2024 | 241 | 233 |
| Q3 2024 | 230 | 224 |
| Q4 2024 | 193 | 244 |
| Q1 2025 | 235 | 206 |
| Q2 2025 | 255 | 200 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $492.5m | $835.4m | 1.70 |
| Q4 2024 | $391.8m | $576.9m | 1.47 |
| Q1 2025 | $541.9m | $658.4m | 1.21 |
| Q2 2025 | $370.0m | $461.7m | 1.25 |
Biggest buyers
| Capital International Investors | New | +17.6m |
| Invesco Ltd. | Added | +8.8m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Added | +7.6m |
| MARSHALL WACE, LLP | New | +5.9m |
| RENAISSANCE TECHNOLOGIES LLC | Added | +3.5m |
| SPX Gestao de Recursos Ltda | Added | +3.5m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Added | +3.3m |
| D. E. Shaw & Co., Inc. | Added | +2.5m |
| GOLDMAN SACHS GROUP INC | Added | +1.9m |
| Jump Financial, LLC | New | +1.8m |
Biggest sellers
| GQG Partners LLC | Reduced | -34.7m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Sold out | -21.2m |
| BAILLIE GIFFORD & CO | Reduced | -11.4m |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Reduced | -5.3m |
| Carrhae Capital LLP | Sold out | -4.5m |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -3.7m |
| Driehaus Capital Management LLC | Sold out | -3.6m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -3.6m |
| JANE STREET GROUP, LLC | Sold out | -3.1m |
| LAZARD ASSET MANAGEMENT LLC | Reduced | -2.7m |
Biggest calls
| UBS Group AG | Added | $93.1m7.4m shares |
| Optiver Holding B.V. | Reduced | $61.5m4.9m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $57.5m4.6m shares |
| PEAK6 LLC | Added | $26.0m2.1m shares |
| GOLDMAN SACHS GROUP INC | Added | $21.5m1.7m shares |
| JANE STREET GROUP, LLC | Added | $18.0m1.4m shares |
| BNP PARIBAS FINANCIAL MARKETS | Reduced | $14.8m11.8k shares |
| GROUP ONE TRADING LLC | Added | $14.7m1.2m shares |
| JPMORGAN CHASE & CO | Reduced | $13.8m1.1m shares |
| SIMPLEX TRADING, LLC | Reduced | $10.1m811.3k shares |
Biggest puts
| Optiver Holding B.V. | Reduced | $172.6m13.8m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $96.4m7.7m shares |
| GROUP ONE TRADING LLC | Added | $43.7m3.5m shares |
| UBS Group AG | Reduced | $32.4m2.6m shares |
| JPMORGAN CHASE & CO | Added | $14.7m1.2m shares |
| CITADEL ADVISORS LLC | Reduced | $12.9m1.0m shares |
| BNP PARIBAS FINANCIAL MARKETS | Reduced | $12.5m10.0k shares |
| GOLDMAN SACHS GROUP INC | Reduced | $12.4m995.2k shares |
| SIMPLEX TRADING, LLC | Reduced | $11.6m931.9k shares |
| Squarepoint Ops LLC | Reduced | $8.8m706.4k 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 |
|---|---|
| BlackRock, Inc. 13G · institution +1.6 pts · filed 2026-04-28 | 7.1% |
| GQG Partners LLC 13G · institution +1.2 pts · filed 2026-05-22 | 5.0% |
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 |
|---|---|---|
| GQG Partners LLC 3.94% of their portfolio | 221.4m $2.8bn | Reduced -34.7m |
| BAILLIE GIFFORD & CO 0.38% of their portfolio | 40.4m $505.4m | Reduced -11.4m |
| FMR LLC 0.02% of their portfolio | 32.4m $405.5m | Added +352.6k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.33% of their portfolio | 31.3m $391.1m | Added +1.5m |
| LAZARD ASSET MANAGEMENT LLC 0.33% of their portfolio | 19.1m $239.4m | Reduced -2.7m |
| Capital International Investors 0.04% of their portfolio | 17.6m $220.4m | New |
| Fisher Asset Management, LLC 0.07% of their portfolio | 14.6m $182.5m | Reduced -382.2k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.05% of their portfolio | 13.0m $162.7m | Added +3.3m |
| ARGA Investment Management, LP 3.78% of their portfolio | 11.0m $138.1m | Unchanged |
| Invesco Ltd. 0.02% of their portfolio | 11.0m $138.0m | Added +8.8m |
| BlackRock, Inc. 0.00% of their portfolio | 10.9m $136.8m | Added +1.0m |
| RENAISSANCE TECHNOLOGIES LLC 0.17% of their portfolio | 10.0m $125.1m | Added +3.5m |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 9.3m $116.8m | Added +1.6m |
| MORGAN STANLEY 0.01% of their portfolio | 8.7m $108.7m | Reduced -1.2m |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 8.1m $101.1m | Added +1.9m |
| THORNBURG INVESTMENT MANAGEMENT INC 1.24% of their portfolio | 7.7m $96.5m | Reduced -37.3k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio | 7.6m $95.5m | Added +7.6m |
| MARSHALL WACE, LLP 0.09% of their portfolio | 5.9m $73.5m | New |
| Robeco Institutional Asset Management B.V. 0.12% of their portfolio | 5.8m $73.1m | Added +371.3k |
| Optiver Holding B.V. 1.96% of their portfolio | 5.8m $72.7m | Added +959.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 5.8m $72.0m | Reduced -2.3m |
| Itau Unibanco Holding S.A. 2.69% of their portfolio | 5.7m $70.9m | Reduced -483.0k |
| STATE STREET CORP 0.00% of their portfolio | 5.3m $68.4m | Added +167.7k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 5.2m $65.2m | Reduced -454.6k |
| MACQUARIE GROUP LTD 0.08% of their portfolio | 5.0m $62.8m | Added +228.7k |
| SPX Gestao de Recursos Ltda 5.85% of their portfolio | 5.0m $62.4m | Added +3.5m |
| RWC ASSET ADVISORS (US) LLC 14.31% of their portfolio | 4.7m $59.3m | Added +155.4k |
| UBS Group AG 0.01% of their portfolio | 4.6m $57.5m | Added +1.5m |
| Point72 Asset Management, L.P. 0.10% of their portfolio | 3.4m $42.7m | Reduced -63.0k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 3.3m $41.3m | Added +1.2m |
| Perpetual Ltd 0.48% of their portfolio | 3.3m $40.8m | Added +48.4k |
| EARNEST PARTNERS LLC 0.18% of their portfolio | 3.2m $40.1m | Reduced -36.3k |
| Russell Investments Group, Ltd. 0.05% of their portfolio | 3.2m $39.7m | Reduced -1.1m |
| D. E. Shaw & Co., Inc. 0.04% of their portfolio | 3.1m $39.4m | Added +2.5m |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 3.1m $38.2m | Added +119.7k |
| TODD ASSET MANAGEMENT LLC 0.81% of their portfolio | 3.0m $37.4m | Added +32.3k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 2.7m $33.3m | Added +391.1k |
| Cullen Capital Management, LLC 0.38% of their portfolio | 2.6m $33.0m | Added +129.8k |
| Artemis Investment Management LLP 0.41% of their portfolio | 2.5m $31.5m | Reduced -1.4m |
| GROUP ONE TRADING LLC 0.96% of their portfolio | 2.3m $29.3m | Added +1.3m |
| NEW YORK STATE COMMON RETIREMENT FUND 0.04% of their portfolio | 2.2m $28.0m | Added +143.8k |
| RWC Asset Management LLP 1.29% of their portfolio | 2.0m $24.5m | Added +124.6k |
| CONTRARIAN CAPITAL MANAGEMENT, L.L.C. 6.90% of their portfolio | 1.9m $24.1m | Reduced -2.0m |
| NORTHERN TRUST CORP 0.00% of their portfolio | 1.9m $23.5m | Reduced -164.2k |
| Annex Advisory Services, LLC 0.56% of their portfolio | 1.9m $23.2m | Added +38.3k |
| SEI INVESTMENTS CO 0.03% of their portfolio | 1.8m $22.9m | Added +156.8k |
| TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.18% of their portfolio | 1.8m $22.7m | Unchanged |
| Jump Financial, LLC 0.28% of their portfolio | 1.8m $22.7m | New |
| CI INVESTMENTS INC. 0.08% of their portfolio | 1.7m $21.8m | Added +124.0k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.07% of their portfolio | 1.6m $20.0m | Reduced -791.5k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 1.6m $19.8m | Reduced -76.5k |
| Y-Intercept (Hong Kong) Ltd 0.46% of their portfolio | 1.5m $18.7m | Added +1.2m |
| Parkwood LLC 1.71% of their portfolio | 1.5m $18.6m | Added +1.0m |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 1.4m $17.5m | Reduced -3.6m |
| ACADIAN ASSET MANAGEMENT LLC 0.04% of their portfolio | 1.4m $17.0m | Added +1.3m |
| Point72 Europe (London) LLP 0.83% of their portfolio | 1.3m $16.0m | Added +627.3k |
| NATIXIS ADVISORS, LLC 0.02% of their portfolio | 1.2m $15.5m | Added +320.9k |
| Allspring Global Investments Holdings, LLC 0.03% of their portfolio | 1.2m $15.0m | Added +76.8k |
| VANGUARD GROUP INC 0.00% of their portfolio | 1.2m $14.8m | Added +8.8k |
| Breakout Capital Partners, LP 14.36% of their portfolio | 1.2m $14.7m | Unchanged |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio | 1.1m $14.0m | Reduced -3.7m |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 1.1m $14.0m | Added +734.1k |
| Squarepoint Ops LLC 0.03% of their portfolio | 1.1m $13.7m | Added +634.7k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 1.0m $13.1m | Reduced -691.7k |
| ASSETMARK, INC 0.03% of their portfolio | 1.0m $12.9m | Added +24.5k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 1.0m $12.8m | Reduced -515.0k |
| MASTERS CAPITAL MANAGEMENT LLC 2.41% of their portfolio | 1.0m $12.5m | Unchanged |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 992.0k $12.4m | Reduced -176.3k |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.08% of their portfolio | 952.0k $11.9m | Added +54.3k |
| USS Investment Management Ltd 0.07% of their portfolio | 894.1k $11.2m | Unchanged |
| Capital International, Inc./CA/ 0.11% of their portfolio | 887.6k $11.1m | New |
| HSBC HOLDINGS PLC 0.01% of their portfolio | 873.9k $10.9m | Added +209.3k |
| Pictet Asset Management Holding SA 0.01% of their portfolio | 847.2k $10.6m | Added +218.5k |
| State of New Jersey Common Pension Fund D 0.04% of their portfolio | 825.0k $10.3m | Reduced -19.5k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 800.7k $10.0m | Added +354.9k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 696.2k $8.7m | Added +29.4k |
| CITIGROUP INC 0.01% of their portfolio | 685.3k $8.6m | Added +358.7k |
| Mitsubishi UFJ Trust & Banking Corp 0.02% of their portfolio | 667.0k $8.3m | Reduced -52.6k |
| IPG Investment Advisors LLC 1.65% of their portfolio | 661.9k $8.5m | Added +230.3k |
| BARCLAYS PLC 0.00% of their portfolio | 658.0k $8.2m | Added +53.6k |
| Trexquant Investment LP 0.09% of their portfolio | 655.9k $8.2m | New |
| SALEM INVESTMENT COUNSELORS INC 0.22% of their portfolio | 564.7k $7.1m | Added +43.8k |
| Moneda S.A. Administradora General de Fondos 6.92% of their portfolio | 510.6k $6.4m | Reduced -139.1k |
| Lumbard & Kellner, LLC 2.77% of their portfolio | 507.8k $6.4m | Reduced -8.3k |
| OSAIC HOLDINGS, INC. 0.01% of their portfolio | 449.3k $6.1m | Added +183.2k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 447.1k $5.6m | Added +79.5k |
| SG Americas Securities, LLC 0.02% of their portfolio | 440.6k $5.5m | Reduced -189.7k |
| Moran Wealth Management, LLC 0.17% of their portfolio | 438.0k $5.5m | Added +32.5k |
| Verition Fund Management LLC 0.03% of their portfolio | 433.9k $5.4m | Added +230.9k |
| B. Metzler seel. Sohn & Co. AG 0.05% of their portfolio | 410.5k $5.1m | Added +3.4k |
| Connor, Clark & Lunn Investment Management Ltd. 0.02% of their portfolio | 403.0k $5.0m | New |
| HENNESSY ADVISORS INC 0.17% of their portfolio | 398.9k $5.0m | Unchanged |
| Lesa Sroufe & Co 3.94% of their portfolio | 343.0k $4.3m | Added +1.3k |
| OPPENHEIMER ASSET MANAGEMENT INC. 0.05% of their portfolio | 341.3k $4.3m | Added +868 |
| LPL Financial LLC 0.00% of their portfolio | 339.8k $4.3m | Reduced -52.5k |
| Quadrature Capital Ltd 0.07% of their portfolio | 325.5k $4.1m | New |
| Cubist Systematic Strategies, LLC 0.04% of their portfolio | 317.7k $4.0m | Added +279.1k |
| HRT FINANCIAL LP 0.02% of their portfolio | 314.8k $3.9m | New |
| Employees Retirement System of Texas 0.03% of their portfolio | 314.2k $3.9m | Reduced -86.0k |
| CAPITAL FUND MANAGEMENT S.A. 0.04% of their portfolio | 307.2k $3.8m | New |