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 ($72.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $20.72. Options: 38 managers hold calls ($1.4bn notional), 35 hold puts ($1.1bn).
Trends to Q1 2026
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 |
| Q3 2025 | 477 |
| Q4 2025 | 493 |
| Q1 2026 | 550 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2024 | 241 | 233 |
| Q3 2024 | 230 | 224 |
| Q4 2024 | 193 | 244 |
| Q1 2025 | 235 | 206 |
| Q2 2025 | 255 | 200 |
| Q3 2025 | 234 | 213 |
| Q4 2025 | 238 | 216 |
| Q1 2026 | 317 | 202 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $370.0m | $461.7m | 1.25 |
| Q3 2025 | $479.7m | $590.3m | 1.23 |
| Q4 2025 | $488.8m | $536.9m | 1.10 |
| Q1 2026 | $1.4bn | $1.1bn | 0.79 |
Biggest buyers
| GQG Partners LLC | Added | +37.4m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | New | +28.6m |
| BAILLIE GIFFORD & CO | Added | +14.9m |
| Capital World Investors | New | +14.1m |
| Capital International Investors | Added | +13.6m |
| MORGAN STANLEY | Added | +8.4m |
| ACADIAN ASSET MANAGEMENT LLC | Added | +7.4m |
| DEUTSCHE BANK AG\ | Added | +6.8m |
| Russell Investments Group, Ltd. | Added | +6.6m |
| FMR LLC | Added | +6.2m |
Biggest sellers
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -6.6m |
| MARSHALL WACE, LLP | Reduced | -6.5m |
| SCHRODER INVESTMENT MANAGEMENT GROUP | Reduced | -5.1m |
| Point72 Asset Management, L.P. | Sold out | -4.9m |
| BANK OF AMERICA CORP /DE/ | Reduced | -4.8m |
| GOLDMAN SACHS GROUP INC | Reduced | -3.8m |
| SPX Gestao de Recursos Ltda | Reduced | -3.2m |
| Optiver Holding B.V. | Sold out | -2.2m |
| Fisher Asset Management, LLC | Reduced | -2.2m |
| JPMORGAN CHASE & CO | Reduced | -2.0m |
Biggest calls
| Optiver Holding B.V. | Added | $355.8m17.1m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $258.3m12.4m shares |
| JANE STREET GROUP, LLC | Added | $105.2m5.1m shares |
| PEAK6 LLC | New | $99.7m4.8m shares |
| UBS Group AG | Reduced | $91.0m4.4m shares |
| CITADEL ADVISORS LLC | Added | $80.9m3.9m shares |
| SIMPLEX TRADING, LLC | New | $56.5m2.8m shares |
| Point72 Asset Management, L.P. | Added | $47.8m2.3m shares |
| JPMORGAN CHASE & CO | Reduced | $36.4m1.8m shares |
| CITIGROUP INC | Added | $31.1m1.5m shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $283.6m13.7m shares |
| Optiver Holding B.V. | Added | $210.1m10.1m shares |
| JPMORGAN CHASE & CO | Reduced | $78.1m3.8m shares |
| CITIGROUP INC | Added | $74.6m3.6m shares |
| UBS Group AG | Reduced | $58.6m2.8m shares |
| PEAK6 LLC | New | $57.3m2.8m shares |
| CITADEL ADVISORS LLC | Added | $56.9m2.7m shares |
| JANE STREET GROUP, LLC | Reduced | $46.0m2.2m shares |
| GROUP ONE TRADING LLC | Reduced | $35.6m1.7m shares |
| Squarepoint Ops LLC | Added | $30.1m1.4m 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 Q1 2026
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 2026.
Holders, Q1 2026
| Manager | Shares | Change |
|---|---|---|
| GQG Partners LLC 5.70% of their portfolio | 173.4m $3.6bn | Added +37.4m |
| BAILLIE GIFFORD & CO 0.94% of their portfolio | 44.4m $922.1m | Added +14.9m |
| Capital International Investors 0.22% of their portfolio | 44.2m $918.0m | Added +13.6m |
| Invesco Ltd. 0.06% of their portfolio | 29.0m $602.7m | Added +1.1m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.32% of their portfolio | 28.6m $592.5m | New |
| LAZARD ASSET MANAGEMENT LLC 0.86% of their portfolio | 25.3m $524.0m | Added +2.1m |
| Itau Unibanco Holding S.A. 10.31% of their portfolio | 20.8m $431.1m | Added +947.7k |
| MORGAN STANLEY 0.03% of their portfolio | 20.5m $425.8m | Added +8.4m |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.31% of their portfolio | 18.3m $380.0m | Reduced -5.1m |
| ARGA Investment Management, LP 12.05% of their portfolio | 17.7m $366.9m | Reduced -1.3m |
| BlackRock, Inc. 0.01% of their portfolio | 16.0m $331.2m | Added +4.4m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.04% of their portfolio | 15.7m $325.2m | Added +5.3m |
| Capital World Investors 0.04% of their portfolio | 14.1m $292.6m | New |
| Fisher Asset Management, LLC 0.08% of their portfolio | 11.8m $245.5m | Reduced -2.2m |
| Mondrian Investment Partners LTD 3.45% of their portfolio | 11.1m $230.4m | Reduced -1.6m |
| JPMORGAN CHASE & CO 0.02% of their portfolio | 10.7m $222.1m | Reduced -2.0m |
| FMR LLC 0.01% of their portfolio | 10.4m $214.8m | Added +6.2m |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 9.2m $191.0m | Reduced -3.8m |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 9.0m $186.2m | Reduced -4.8m |
| UBS Group AG 0.03% of their portfolio | 8.8m $183.3m | Added +4.2m |
| Robeco Institutional Asset Management B.V. 0.23% of their portfolio | 7.8m $162.5m | Added +1.8m |
| RENAISSANCE TECHNOLOGIES LLC 0.25% of their portfolio | 7.7m $159.0m | Reduced -1.9m |
| ACADIAN ASSET MANAGEMENT LLC 0.22% of their portfolio | 7.5m $155.0m | Added +7.4m |
| Russell Investments Group, Ltd. 0.16% of their portfolio | 7.2m $150.0m | Added +6.6m |
| DEUTSCHE BANK AG\ 0.05% of their portfolio | 6.8m $142.0m | Added +6.8m |
| OAKTREE CAPITAL MANAGEMENT LP 2.14% of their portfolio | 6.1m $126.4m | New |
| STATE STREET CORP 0.00% of their portfolio | 5.7m $117.2m | Added +164.4k |
| EARNEST PARTNERS LLC 0.45% of their portfolio | 5.2m $108.4m | Reduced -108.9k |
| Artemis Investment Management LLP 1.02% of their portfolio | 4.6m $95.9m | Added +2.6m |
| AMERICAN CENTURY COMPANIES INC 0.04% of their portfolio | 4.2m $86.7m | Added +756.2k |
| RWC ASSET ADVISORS (US) LLC 17.76% of their portfolio | 4.0m $82.5m | New |
| Capital International, Inc./CA/ 0.63% of their portfolio | 3.9m $81.9m | Added +2.0m |
| SEI INVESTMENTS CO 0.07% of their portfolio | 3.8m $77.9m | Added +580.0k |
| DNB Asset Management AS 0.27% of their portfolio | 3.6m $74.4m | Added +1.7m |
| Perpetual Ltd 1.05% of their portfolio | 3.3m $68.4m | Reduced -16.0k |
| DJE Kapital AG 1.45% of their portfolio | 3.1m $65.4m | New |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.02% of their portfolio | 3.1m $64.1m | Reduced -6.6m |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 3.0m $63.1m | Reduced -145.3k |
| MARSHALL WACE, LLP 0.07% of their portfolio | 2.9m $60.8m | Reduced -6.5m |
| Holocene Advisors, LP 0.15% of their portfolio | 2.9m $60.5m | New |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 2.9m $34.4m | New |
| Cullen Capital Management, LLC 0.60% of their portfolio | 2.8m $58.3m | Added +539.5k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 2.8m $57.4m | Reduced -1.0m |
| RWC Asset Management LLP 2.27% of their portfolio | 2.6m $54.5m | Added +2.1m |
| NEW YORK STATE COMMON RETIREMENT FUND 0.07% of their portfolio | 2.6m $53.5m | Unchanged |
| TODD ASSET MANAGEMENT LLC 1.05% of their portfolio | 2.6m $53.5m | Reduced -482.2k |
| Annex Advisory Services, LLC 0.83% of their portfolio | 2.1m $44.2m | Added +23.8k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 2.0m $40.6m | Added +231.6k |
| BANK OF MONTREAL /CAN/ 0.02% of their portfolio | 1.8m $38.1m | Added +1.8m |
| SPX Gestao de Recursos Ltda 3.00% of their portfolio | 1.7m $36.0m | Reduced -3.2m |
| FEARNLEY ASSET MANAGEMENT AS 11.71% of their portfolio | 1.7m $35.8m | Added +242.0k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.06% of their portfolio | 1.7m $34.8m | Reduced -82.1k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.11% of their portfolio | 1.6m $34.2m | Added +2.4k |
| TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.26% of their portfolio | 1.6m $33.6m | Reduced -351.0k |
| GROUP ONE TRADING LLC 1.08% of their portfolio | 1.6m $32.8m | Added +45.5k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 1.6m $32.2m | Added +394.3k |
| JANE STREET GROUP, LLC 0.03% of their portfolio | 1.5m $31.7m | Added +70.5k |
| Allspring Global Investments Holdings, LLC 0.05% of their portfolio | 1.4m $28.7m | Added +35.1k |
| NATIXIS ADVISORS, LLC 0.04% of their portfolio | 1.4m $29.6m | Added +197.1k |
| JONES FINANCIAL COMPANIES LLLP 0.01% of their portfolio | 1.4m $28.5m | Added +1.3m |
| HSBC HOLDINGS PLC 0.02% of their portfolio | 1.3m $26.4m | Reduced -1.3m |
| ASSETMARK, INC 0.05% of their portfolio | 1.3m $26.2m | Added +88.7k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 1.3m $26.0m | First filing |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.03% of their portfolio | 1.2m $25.4m | Reduced -1.1m |
| Connor, Clark & Lunn Investment Management Ltd. 0.06% of their portfolio | 1.2m $25.2m | Added +1.1m |
| Breakout Capital Partners, LP 14.11% of their portfolio | 1.2m $24.5m | Unchanged |
| Bridgewater Associates, LP 0.11% of their portfolio | 1.2m $23.9m | New |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 1.1m $23.4m | Added +124.9k |
| TT International Asset Management LTD 2.43% of their portfolio | 1.1m $22.2m | New |
| Evergreen Quality Fund GP, Ltd. 0.47% of their portfolio | 988.7k $20.5m | Added +516.1k |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 977.6k $20.3m | Added +772.9k |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.10% of their portfolio | 976.3k $20.3m | Added +40.3k |
| HATCH COVE CAPITAL, LLC 7.72% of their portfolio | 974.6k $20.2m | New |
| Squarepoint Ops LLC 0.04% of their portfolio | 934.2k $19.4m | Added +276.8k |
| USS Investment Management Ltd 0.08% of their portfolio | 894.1k $18.5m | Unchanged |
| HRT FINANCIAL LP 0.07% of their portfolio | 890.1k $18.5m | New |
| Franchise GP Ltd 6.50% of their portfolio | 852.3k $17.7m | New |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 833.5k $17.3m | Added +197.7k |
| NS Partners Ltd 0.73% of their portfolio | 784.8k $16.3m | New |
| SG Americas Securities, LLC 0.02% of their portfolio | 784.4k $16.3m | Added +738.1k |
| CITIGROUP INC 0.01% of their portfolio | 774.8k $16.1m | Reduced -964.1k |
| Lloyd Harbor Capital Management, LLC 7.95% of their portfolio | 740.0k $15.4m | New |
| FORA Capital, LLC 1.09% of their portfolio | 713.8k $14.8m | New |
| NATIONAL BANK OF CANADA /FI/ 0.02% of their portfolio | 709.3k $14.7m | Added +708.8k |
| Lumbard & Kellner, LLC 5.09% of their portfolio | 707.3k $14.7m | Reduced -25 |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.06% of their portfolio | 705.4k $14.6m | Reduced -928.6k |
| Moran Wealth Management, LLC 0.44% of their portfolio | 699.5k $14.5m | Added +164.4k |
| Trexquant Investment LP 0.10% of their portfolio | 697.2k $14.5m | Added +40.4k |
| Trek Financial, LLC 0.77% of their portfolio | 694.9k $14.4m | New |
| Marex Group Ltd 0.14% of their portfolio | 657.4k $13.6m | Added +534.5k |
| CAPITAL FUND MANAGEMENT S.A. 0.12% of their portfolio | 640.5k $13.3m | Added +463.7k |
| State of New Jersey Common Pension Fund D 0.05% of their portfolio | 632.1k $13.1m | Reduced -74.7k |
| Quadrature Capital Ltd 0.15% of their portfolio | 626.9k $13.0m | Added +254.5k |
| LPL Financial LLC 0.00% of their portfolio | 623.5k $12.9m | Added +160.7k |
| COHEN & STEERS, INC. 0.02% of their portfolio | 595.4k $12.4m | Added +306.0k |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.06% of their portfolio | 586.8k $12.2m | New |
| Aberdeen Group plc 0.02% of their portfolio | 586.3k $12.2m | Reduced -22.6k |
| BTG Pactual Asset Management US LLC 1.14% of their portfolio | 564.3k $11.7m | New |
| FIDEURAM - INTESA SANPAOLO PRIVATE BANKING S.P.A. 0.40% of their portfolio | 552.4k $11.5m | Added +269.8k |
| ABBINGTON INVESTMENT GROUP 6.51% of their portfolio | 539.2k $11.2m | Added +229.7k |