Vault-13

PATRIA INVESTMENTS LIMITED PAX

COM CL A · Common Stock · CUSIP G69451105

136 institutional holders +8 vs Q3 2024
46,917,27546.9m shares reported held*
$545.3mreported value*
26 new 41 added 48 reduced 23 sold out net sold ≈ $21.4m (-1.8m 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 ($369.9k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $11.62. Options: 5 managers hold calls ($418.2k notional), 5 hold puts ($1.8m).

Trends to Q4 2024

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 55Q4 22: 62Q1 23: 70Q2 23: 91Q3 23: 96Q4 23: 108Q1 24: 122Q2 24: 123Q3 24: 128Q4 24: 136136Q3 22Q1 23Q3 23Q1 24Q3 24Q4 24
Numbers
QuarterHolders
Q3 202255
Q4 202262
Q1 202370
Q2 202391
Q3 202396
Q4 2023108
Q1 2024122
Q2 2024123
Q3 2024128
Q4 2024136

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q1 23: 40 bought or addedQ1 23: 28 cut or sold outQ2 23: 65 bought or addedQ2 23: 38 cut or sold outQ2 23Q3 23: 53 bought or addedQ3 23: 42 cut or sold outQ4 23: 61 bought or addedQ4 23: 38 cut or sold outQ4 23Q1 24: 80 bought or addedQ1 24: 37 cut or sold outQ2 24: 74 bought or addedQ2 24: 53 cut or sold outQ2 24Q3 24: 66 bought or addedQ3 24: 60 cut or sold outQ4 24: 67 bought or addedQ4 24: 71 cut or sold outQ4 24
Numbers
QuarterBought or addedCut or sold out
Q1 20234028
Q2 20236538
Q3 20235342
Q4 20236138
Q1 20248037
Q2 20247453
Q3 20246660
Q4 20246771

Calls vs puts

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

CallsPuts
$0$1m$2m$3mQ1 24 calls: $631.9kQ1 24 puts: $811.5kQ1 24P/C 1.28Q2 24 calls: $349.4kQ2 24 puts: $2.2mQ2 24P/C 6.26Q3 24 calls: $389.1kQ3 24 puts: $1.8mQ3 24P/C 4.55Q4 24 calls: $418.2kQ4 24 puts: $1.8mQ4 24P/C 4.40
Numbers
QuarterCallsPutsP/C
Q1 2024$631.9k$811.5k1.28
Q2 2024$349.4k$2.2m6.26
Q3 2024$389.1k$1.8m4.55
Q4 2024$418.2k$1.8m4.40

Biggest buyers

UBS Group AG Added +1,731,454+1.7m
BlackRock, Inc. Added +737,954+738.0k
Nuveen Asset Management, LLC Added +382,178+382.2k
Pertento Partners LLP Added +270,075+270.1k
STATE STREET CORP Added +212,260+212.3k
MILLENNIUM MANAGEMENT LLC Added +195,616+195.6k
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP New +72,264+72.3k
NORTHERN TRUST CORP Added +67,241+67.2k
FMR LLC Added +66,690+66.7k
Creative Planning New +59,899+59.9k

Biggest sellers

Grandeur Peak Global Advisors, LLC Reduced -1,155,237-1.2m
Capital Research Global Investors Reduced -865,958-866.0k
WELLINGTON MANAGEMENT GROUP LLP Reduced -651,435-651.4k
Capital International Investors Reduced -570,876-570.9k
Phase 2 Partners, LLC Sold out -541,602-541.6k
JPMORGAN CHASE & CO Reduced -481,087-481.1k
CITIGROUP INC Reduced -269,973-270.0k
Qube Research & Technologies Ltd Reduced -197,429-197.4k
D. E. Shaw & Co., Inc. Sold out -179,714-179.7k
JANE STREET GROUP, LLC Reduced -136,875-136.9k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $189.6k16.3k shares
CITADEL ADVISORS LLC Reduced $136.1k11.7k shares
SIMPLEX TRADING, LLC Added $53.0k4.6k shares
GROUP ONE TRADING LLC Added $39.5k3.4k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.2m99.5k shares
CITADEL ADVISORS LLC Added $417.5k35.9k shares
SIMPLEX TRADING, LLC Added $250.0k21.5k shares
GROUP ONE TRADING LLC Added $15.1k1.3k 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
Neto Olimpio Matarazzo 13D · may seek influence new · filed 2026-02-26
Stated purposeEach Reporting Person acquired the securities described in this Schedule 13D for investment purposes and intends to review its investments in the Issuer on a continuing basis. Any actions a Reporting Person might undertake may be made at any time and from time to time without prior notice and may be informed by such Reporting Person's review of numerous factors, including but not limited to an ongoing evaluation of the Issuer's business, financial condition, operations and prospects; price levels and availability of the Issuer's securities or other financial instruments; general market, industry and economic conditions; tax considerations; such Reporting Person's trading and investment strategies; the relative attractiveness of alternative business and investment opportunities; other futur… Full filing
56.0% new 83.7m≈ $919.1m 2026-02-26
FMR LLC 13G · institution +1.3 pts · filed 2025-11-05 10.0% +1.3 pts 6.6m≈ $72.9m 2025-11-05
Endure Capital Management, LLC 13G · passive investor +2.2 pts · filed 2026-05-15 9.3% +2.2 pts 6.4m≈ $69.8m 2026-05-15
Pertento Partners LLP 13G · passive investor +1.4 pts · filed 2026-05-15 8.0% +1.4 pts 5.3m≈ $58.4m 2026-05-15
BlackRock, Inc. 13G · institution filed 2025-04-23 7.6% 4.6m≈ $50.7m 2025-04-23

Fell to 5% or below in the last year: Capital Research Global Investors (0.0%, 2026-09-04)

Insider purchases and sales in Q4 2024

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 2024.

Holders, Q4 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Capital Research Global Investors 0.02% of their portfolio Los Angeles, CA 10,062,86410.1m $117.0m $117.0m 0.02% Reduced -866.0k -865,958
2 FMR LLC 0.00% of their portfolio BOSTON, MA 6,043,3896.0m $70.3m $70.3m 0.00% Added +66.7k +66,690
3 BlackRock, Inc. 0.00% of their portfolio New York, NY 5,132,8265.1m $59.7m $59.7m 0.00% Added +738.0k +737,954
4 Pertento Partners LLP 3.96% of their portfolio LONDON, X0 3,308,6263.3m $38.5m $38.5m 3.96% Added +270.1k +270,075
5 Grandeur Peak Global Advisors, LLC 2.35% of their portfolio SALT LAKE CITY, UT 2,279,9362.3m $26.5m $26.5m 2.35% Reduced -1.2m -1,155,237
6 SAMLYN CAPITAL, LLC 0.37% of their portfolio New York, NY 2,007,1092.0m $23.3m $23.3m 0.37% Reduced -29.2k -29,211
7 UBS Group AG 0.00% of their portfolio ZURICH, V8 1,877,2521.9m $21.8m $21.8m 0.00% Added +1.7m +1,731,454
8 ADAGE CAPITAL PARTNERS GP, L.L.C. 0.03% of their portfolio Boston, MA 1,483,1581.5m $17.2m $17.2m 0.03% Reduced -13.7k -13,693
9 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 1,377,5911.4m $16.0m $16.0m 0.00% Added +212.3k +212,260
10 Nuveen Asset Management, LLC 0.00% of their portfolio CHICAGO, IL 1,317,6351.3m $15.3m $15.3m 0.00% Added +382.2k +382,178
11 Inherent Management Corp. 11.34% of their portfolio NEW YORK, NY 1,208,8231.2m $14.1m $14.1m 11.34% First filing
12 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 959,490959.5k $11.2m $11.2m 0.00% Reduced -651.4k -651,435
13 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 915,407915.4k $10.6m $10.6m 0.01% Added +195.6k +195,616
14 Amitell Capital Pte Ltd 8.16% of their portfolio SINGAPORE, U0 776,585776.6k $9.0m $9.0m 8.16% Unchanged
15 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 692,190692.2k $8.1m $8.1m 0.00% Added +11.7k +11,743
16 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 597,660597.7k $7.0m $7.0m 0.00% Added +67.2k +67,241
17 FIL Ltd 0.01% of their portfolio HAMILTON, D0 531,968532.0k $6.2m $6.2m 0.01% Reduced -44.7k -44,748
18 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 512,471512.5k $6.0m $6.0m 0.00% Reduced -86.7k -86,668
19 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 414,102414.1k $4.8m $4.8m 0.00% Added +18.5k +18,482
20 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 403,643403.6k $4.7m $4.7m 0.00% Reduced -481.1k -481,087
21 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 311,118311.1k $3.6m $3.6m 0.00% Reduced -22.8k -22,834
22 Capital International Investors 0.00% of their portfolio Los Angeles, CA 251,338251.3k $2.9m $2.9m 0.00% Reduced -570.9k -570,876
23 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 238,828238.8k $2.8m $2.8m 0.00% Reduced -197.4k -197,429
24 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 206,767206.8k $2.4m $2.4m 0.00% Added +42.5k +42,475
25 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 177,352177.4k $2.1m $2.1m 0.00% Added +1.2k +1,244
26 Robeco Institutional Asset Management B.V. 0.00% of their portfolio ROTTERDAM, P7 150,000150.0k $1.7m $1.7m 0.00% Unchanged
27 Trexquant Investment LP 0.02% of their portfolio STAMFORD, CT 149,486149.5k $1.7m $1.7m 0.02% Reduced -24.5k -24,520
28 Castalian Partners, LLC 1.54% of their portfolio EXCELSIOR, MN 140,249140.2k $1.6m $1.6m 1.54% First filing
29 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 135,284135.3k $1.6m $1.6m 0.00% Added +5.9k +5,852
30 FEDERATED HERMES, INC. 0.00% of their portfolio PITTSBURGH, PA 135,000135.0k $1.6m $1.6m 0.00% Added +40.0k +40,000
31 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 134,940134.9k $1.6m $1.6m 0.00% Reduced -2.3k -2,294
32 Aurora Investment Counsel 0.80% of their portfolio ATLANTA, GA 125,446125.4k $1.5m $1.5m 0.80% Added +45 +45
33 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 123,846123.8k $1.4m $1.4m 0.00% Reduced -107.1k -107,079
34 ExodusPoint Capital Management, LP 0.01% of their portfolio NEW YORK, NY 110,229110.2k $1.3m $1.3m 0.01% Reduced -96.3k -96,256
35 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 107,130107.1k $1.2m $1.2m 0.00% Added +25.6k +25,626
36 JANUS HENDERSON GROUP PLC 0.00% of their portfolio LONDON, X0 99,80099.8k $1.2m $1.2m 0.00% Added +14.5k +14,522
37 GSA CAPITAL PARTNERS LLP 0.08% of their portfolio LONDON, X0 90,44590.4k $1.1m $1.1m 0.08% Added +34.4k +34,362
38 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 88,46888.5k $1.0m $1.0m 0.00% Added +9.5k +9,491
39 Nebula Research & Development LLC 0.11% of their portfolio New York, NY 81,56981.6k $948.6k $948.6k 0.11% Reduced -41.6k -41,577
40 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 76,79676.8k $893.1k $893.1k 0.00% Reduced -218 -218
41 MARTINGALE ASSET MANAGEMENT L P 0.02% of their portfolio BOSTON, MA 74,52174.5k $866.7k $866.7k 0.02% Reduced -370 -370
42 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio BOSTON, MA 72,26472.3k $840.4k $840.4k 0.00% New
43 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 69,79369.8k $811.0k $811.0k 0.00% Added +13.1k +13,143
44 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 69,50569.5k $808.3k $808.3k 0.00% First filing
45 TT Capital Management LLC 0.61% of their portfolio Gilbert, AZ 68,15068.2k $766.5k $766.5k 0.61% First filing
46 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 59,89959.9k $696.6k $696.6k 0.00% New
47 EAGLE HARBOR ASSET MANAGEMENT INC /ADV 0.69% of their portfolio SEATTLE, WA 59,53559.5k $692.4k $692.4k 0.69% Reduced -7.6k -7,645
48 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 58,36658.4k $678.8k $678.8k 0.00% Reduced -20.8k -20,820
49 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 56,01056.0k $651.4k $651.4k 0.00% Reduced -3.9k -3,895
50 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 55,85155.9k $649.5k $649.5k 0.00% Added +16.5k +16,536
51 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 54,35254.4k $632.1k $632.1k 0.00% Reduced -5.2k -5,225
52 TimesSquare Capital Management, LLC 0.01% of their portfolio NEW YORK, NY 53,70053.7k $624.5k $624.5k 0.01% New
53 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 52,03752.0k $604.1k $604.1k 0.00% Reduced -1.8k -1,776
54 PENSION & WEALTH MANAGEMENT ADVISORS, INC. 0.24% of their portfolio WALTHAM, MA 51,02851.0k $593.5k $593.5k 0.24% Reduced -2.8k -2,829
55 AVIVA PLC 0.00% of their portfolio LONDON, X0 50,73850.7k $590.1k $590.1k 0.00% Reduced -6.1k -6,079
56 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 48,60748.6k $565.3k $565.3k 0.00% Reduced -270.0k -269,973
57 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 47,42147.4k $552.0k $552.0k 0.00% Added +19.0k +19,001
58 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 43,94443.9k $511.1k $511.1k 0.00% Reduced -136.9k -136,875
59 Legal & General Group Plc 0.00% of their portfolio London, X0 42,23142.2k $491.1k $491.1k 0.00% Added +14.1k +14,082
60 LOS ANGELES CAPITAL MANAGEMENT LLC 0.00% of their portfolio LOS ANGELES, CA 39,62639.6k $460.9k $460.9k 0.00% Reduced -7.6k -7,599
61 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 39,08839.1k $454.6k $454.6k 0.00% Added +13.4k +13,400
62 ALGERT GLOBAL LLC 0.01% of their portfolio SAN FRANCISCO, CA 38,02238.0k $442.2k $442.2k 0.01% Added +21.4k +21,380
63 Aquatic Capital Management LLC 0.01% of their portfolio CHICAGO, IL 37,52837.5k $436.5k $436.5k 0.01% New
64 M&T Bank Corp 0.00% of their portfolio BUFFALO, NY 37,21737.2k $432.8k $432.8k 0.00% Reduced -22.9k -22,860
65 Formidable Asset Management, LLC 0.07% of their portfolio CINCINNATI, OH 36,53436.5k $424.9k $424.9k 0.07% New
66 Tidal Investments LLC 0.00% of their portfolio Milwaukee, WI 36,53436.5k $424.9k $424.9k 0.00% New
67 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 36,11136.1k $420.0k $420.0k 0.00% Added +4.1k +4,097
68 Yorktown Management & Research Co Inc 0.38% of their portfolio Forest, VA 34,00034.0k $395.4k $395.4k 0.38% New
69 Empirical Asset Management, LLC 0.01% of their portfolio WELLESLEY, MA 33,60033.6k $33.6k $33.6k 0.01% New
70 INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio WEST PALM BEACH, FL 32,47532.5k $377.7k $377.7k 0.00% Added +14.6k +14,613
71 Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio TRENTON, NJ 31,80431.8k $369.9k $369.9k 0.00% First filing
72 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio CAUSEWAY BAY, K3 31,59031.6k $367.4k $367.4k 0.00% Added +1.5k +1,487
73 Engineers Gate Manager LP 0.01% of their portfolio NEW YORK, NY 29,19029.2k $339.5k $339.5k 0.01% Reduced -104.3k -104,264
74 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 29,00129.0k $337.3k $337.3k 0.00% Reduced -2.9k -2,938
75 XTX Topco Ltd 0.03% of their portfolio LONDON, X0 28,65228.7k $333.2k $333.2k 0.03% New
76 Corebridge Financial, Inc. 0.00% of their portfolio HOUSTON, TX 27,76627.8k $322.9k $322.9k 0.00% Reduced -1.6k -1,644
77 Solstein Capital, LLC 0.17% of their portfolio Menlo Park, CA 26,30026.3k $305.9k $305.9k 0.17% Unchanged
78 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 25,83325.8k $300.0k $300.0k 0.00% Added +6.9k +6,936
79 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 22,31922.3k $260.0k $260.0k 0.00% Added +4.5k +4,459
80 Wellington Shields Capital Management, LLC 0.04% of their portfolio NEW YORK, NY 21,50021.5k $250.0k $250.0k 0.04% Reduced -18.0k -18,000
81 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 20,08720.1k $233.6k $233.6k 0.00% Reduced -346 -346
82 Wellington Shields & Co., LLC 0.07% of their portfolio NEW YORK, NY 18,40018.4k $214.0k $214.0k 0.07% Reduced -14.0k -14,000
83 MAI Capital Management 0.00% of their portfolio INDEPENDENCE, OH 18,00018.0k $209.3k $209.3k 0.00% New
84 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 17,17317.2k $199.7k $199.7k 0.00% New
85 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 16,68316.7k $194.0k $194.0k 0.00% New
86 VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio ATLANTA, GA 16,46016.5k $191.4k $191.4k 0.00% Reduced -1.8k -1,793
87 Mondrian Investment Partners LTD 0.00% of their portfolio LONDON, X0 16,45116.5k $195.6k $195.6k 0.00% Reduced -97.0k -97,036
88 ProShare Advisors LLC 0.00% of their portfolio BETHESDA, MD 15,72815.7k $182.9k $182.9k 0.00% Added +5.3k +5,336
89 STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio TALLAHASSEE, FL 15,68015.7k $182.4k $182.4k 0.00% Unchanged
90 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 14,36814.4k $167.1k $167.1k 0.00% Unchanged
91 Ethic Inc. 0.00% of their portfolio NEW YORK, NY 13,87413.9k $161.4k $161.4k 0.00% Reduced -2.4k -2,408
92 Y-Intercept (Hong Kong) Ltd 0.01% of their portfolio HONG KONG, K3 13,54813.5k $157.6k $157.6k 0.01% Reduced -32.4k -32,409
93 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio COLUMBUS, OH 13,30013.3k $154.7k $154.7k 0.00% Added +3.7k +3,700
94 Allegheny Financial Group 0.04% of their portfolio Pittsburgh, PA 13,14113.1k $152.8k $152.8k 0.04% Reduced -10.1k -10,096
95 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 13,10113.1k $152.4k $152.4k 0.00% New
96 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 12,70012.7k $147.7k $147.7k 0.00% New
97 Pictet Asset Management Holding SA 0.00% of their portfolio CAROUGE, V8 10,47810.5k $121.9k $121.9k 0.00% New
98 AXQ CAPITAL, LP 0.05% of their portfolio JERSEY CITY, NJ 10,07010.1k $117.1k $117.1k 0.05% Reduced -2.7k -2,681
99 QUADRANT CAPITAL GROUP LLC 0.01% of their portfolio CINCINNATI, OH 9,6929.7k $112.7k $112.7k 0.01% Added +6.8k +6,837
100 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 7,6667.7k $89.0k $89.0k 0.00% Added +765 +765