Vault-13

PATRIA INVESTMENTS LIMITED PAX

COM CL A · Common Stock · CUSIP G69451105

147 institutional holders +5 vs Q1 2025
43,845,98243.8m shares reported held*
$616.5mreported value*
26 new 61 added 41 reduced 21 sold out net bought ≈ $26.3m (+1.9m 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 ($513.3k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $14.06. Options: 5 managers hold calls ($1.4m notional), 5 hold puts ($1.1m).

Trends to Q2 2025

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: 136Q1 25: 142Q2 25: 147147Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202255
Q4 202262
Q1 202370
Q2 202391
Q3 202396
Q4 2023108
Q1 2024122
Q2 2024123
Q3 2024128
Q4 2024136
Q1 2025142
Q2 2025147

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q3 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 24Q1 25: 66 bought or addedQ1 25: 71 cut or sold outQ2 25: 87 bought or addedQ2 25: 62 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20235342
Q4 20236138
Q1 20248037
Q2 20247453
Q3 20246660
Q4 20246771
Q1 20256671
Q2 20258762

Calls vs puts

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

CallsPuts
$0$500k$1m$1.5m$2mQ3 24 calls: $389.1kQ3 24 puts: $1.8mQ3 24P/C 4.55Q4 24 calls: $418.2kQ4 24 puts: $1.8mQ4 24P/C 4.40Q1 25 calls: $962.2kQ1 25 puts: $1.4mQ1 25P/C 1.45Q2 25 calls: $1.4mQ2 25 puts: $1.1mQ2 25P/C 0.78
Numbers
QuarterCallsPutsP/C
Q3 2024$389.1k$1.8m4.55
Q4 2024$418.2k$1.8m4.40
Q1 2025$962.2k$1.4m1.45
Q2 2025$1.4m$1.1m0.78

Biggest buyers

UBS Group AG Added +1,406,227+1.4m
MILLENNIUM MANAGEMENT LLC Added +493,178+493.2k
MHR FUND MANAGEMENT LLC Added +427,982+428.0k
683 Capital Management, LLC New +400,000+400.0k
Inherent Management Corp. Added +258,008+258.0k
GLOBEFLEX CAPITAL L P New +217,959+218.0k
VOLORIDGE INVESTMENT MANAGEMENT, LLC Added +202,219+202.2k
DENALI ADVISORS LLC Added +144,577+144.6k
Allianz Asset Management GmbH New +140,000+140.0k
AMERICAN CENTURY COMPANIES INC Added +133,313+133.3k

Biggest sellers

Grandeur Peak Global Advisors, LLC Reduced -812,144-812.1k
FMR LLC Reduced -397,049-397.0k
Nuveen, LLC Reduced -357,033-357.0k
FIL Ltd Reduced -288,288-288.3k
Capital International Investors Sold out -251,338-251.3k
GOLDMAN SACHS GROUP INC Reduced -177,879-177.9k
Amitell Capital Pte Ltd Reduced -175,435-175.4k
Praetorian PR LLC Sold out -155,000-155.0k
Trexquant Investment LP Sold out -100,819-100.8k
BlackRock, Inc. Reduced -100,148-100.1k

Biggest calls

CITADEL ADVISORS LLC Added $518.8k36.9k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $485.1k34.5k shares
SIMPLEX TRADING, LLC Added $312.0k22.2k shares
GROUP ONE TRADING LLC Reduced $63.3k4.5k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

CITADEL ADVISORS LLC Reduced $618.6k44.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $403.5k28.7k shares
GROUP ONE TRADING LLC Reduced $28.1k2.0k shares
SIMPLEX TRADING, LLC Reduced $23.0k1.7k 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
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 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

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Capital Research Global Investors 0.03% of their portfolio Los Angeles, CA 9,721,9039.7m $136.7m $136.7m 0.03% Reduced -72.5k -72,455
2 FMR LLC 0.00% of their portfolio BOSTON, MA 5,646,3395.6m $79.4m $79.4m 0.00% Reduced -397.0k -397,049
3 BlackRock, Inc. 0.00% of their portfolio New York, NY 4,944,8894.9m $69.5m $69.5m 0.00% Reduced -100.1k -100,148
4 Pertento Partners LLP 5.27% of their portfolio LONDON, X0 3,317,0063.3m $46.6m $46.6m 5.27% Added +8.4k +8,380
5 SAMLYN CAPITAL, LLC 0.39% of their portfolio New York, NY 1,920,1051.9m $27.0m $27.0m 0.39% Reduced -84.0k -84,000
6 UBS Group AG 0.01% of their portfolio ZURICH, V8 1,734,9101.7m $24.4m $24.4m 0.01% Added +1.4m +1,406,227
7 ADAGE CAPITAL PARTNERS GP, L.L.C. 0.04% of their portfolio Boston, MA 1,621,1921.6m $22.8m $22.8m 0.04% Reduced -3.8k -3,808
8 Inherent Management Corp. 10.45% of their portfolio NEW YORK, NY 1,466,8311.5m $20.6m $20.6m 10.45% Added +258.0k +258,008
9 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 1,286,8201.3m $18.1m $18.1m 0.00% Added +62.3k +62,295
10 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 839,004839.0k $11.8m $11.8m 0.00% Reduced -357.0k -357,033
11 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 834,129834.1k $11.7m $11.7m 0.01% Added +493.2k +493,178
12 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 830,278830.3k $11.7m $11.7m 0.00% Added +75.7k +75,699
13 Grandeur Peak Global Advisors, LLC 1.38% of their portfolio SALT LAKE CITY, UT 812,276812.3k $11.4m $11.4m 1.38% Reduced -812.1k -812,144
14 MHR FUND MANAGEMENT LLC 0.98% of their portfolio NEW YORK, NY 627,982628.0k $8.8m $8.8m 0.98% Added +428.0k +427,982
15 Amitell Capital Pte Ltd 4.75% of their portfolio SINGAPORE, U0 601,150601.1k $8.5m $8.5m 4.75% Reduced -175.4k -175,435
16 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 597,394597.4k $8.4m $8.4m 0.00% Added +53.9k +53,890
17 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 422,861422.9k $5.9m $5.9m 0.00% Added +39.3k +39,318
18 683 Capital Management, LLC 0.57% of their portfolio NEW YORK, NY 400,000400.0k $5.6m $5.6m 0.57% New
19 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 273,434273.4k $3.8m $3.8m 0.00% Reduced -362 -362
20 FIL Ltd 0.00% of their portfolio HAMILTON, D0 266,919266.9k $3.8m $3.8m 0.00% Reduced -288.3k -288,288
21 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 237,966238.0k $3.3m $3.3m 0.00% Reduced -16.4k -16,384
22 DENALI ADVISORS LLC 0.34% of their portfolio SAN DIEGO, CA 234,819234.8k $3.3m $3.3m 0.34% Added +144.6k +144,577
23 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.01% of their portfolio JUPITER, FL 227,183227.2k $3.2m $3.2m 0.01% Added +202.2k +202,219
24 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 218,698218.7k $3.1m $3.1m 0.00% Added +127.7k +127,739
25 GLOBEFLEX CAPITAL L P 0.25% of their portfolio SAN DIEGO, CA 217,959218.0k $3.1m $3.1m 0.25% New
26 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 207,897207.9k $2.9m $2.9m 0.00% Added +103.9k +103,934
27 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 191,677191.7k $2.7m $2.7m 0.00% Added +124.2k +124,231
28 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 172,754172.8k $2.4m $2.4m 0.00% Added +133.3k +133,313
29 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 151,411151.4k $2.1m $2.1m 0.00% Added +11.8k +11,761
30 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 151,003151.0k $2.1m $2.1m 0.00% Added +38.2k +38,180
31 Robeco Institutional Asset Management B.V. 0.00% of their portfolio ROTTERDAM, P7 150,000150.0k $2.1m $2.1m 0.00% Unchanged
32 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 149,017149.0k $2.1m $2.1m 0.00% Added +81.8k +81,807
33 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 140,535140.5k $2.0m $2.0m 0.00% Added +5.2k +5,235
34 Allianz Asset Management GmbH 0.00% of their portfolio MUNICH, 2M 140,000140.0k $2.0m $2.0m 0.00% New
35 FEDERATED HERMES, INC. 0.00% of their portfolio PITTSBURGH, PA 135,000135.0k $1.9m $1.9m 0.00% Unchanged
36 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 132,081132.1k $1.9m $1.9m 0.00% Reduced -177.9k -177,879
37 Aurora Investment Counsel 0.90% of their portfolio ATLANTA, GA 120,798120.8k $1.7m $1.7m 0.90% Reduced -1.4k -1,361
38 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 106,535106.5k $1.5m $1.5m 0.00% Added +43.8k +43,751
39 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 92,71792.7k $1.3m $1.3m 0.00% Added +10.4k +10,442
40 TT Capital Management LLC 1.01% of their portfolio Gilbert, AZ 88,30088.3k $1.2m $1.2m 1.01% Added +12.8k +12,850
41 EAGLE HARBOR ASSET MANAGEMENT INC /ADV 1.16% of their portfolio SEATTLE, WA 85,58385.6k $1.2m $1.2m 1.16% Reduced -17.3k -17,306
42 ALGERT GLOBAL LLC 0.02% of their portfolio SAN FRANCISCO, CA 82,04382.0k $1.2m $1.2m 0.02% Added +47.9k +47,931
43 MARTINGALE ASSET MANAGEMENT L P 0.03% of their portfolio BOSTON, MA 80,43880.4k $1.1m $1.1m 0.03% Added +5.9k +5,917
44 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 79,63479.6k $1.1m $1.1m 0.00% Reduced -14.9k -14,883
45 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 79,38579.4k $1.1m $1.1m 0.00% Added +35.6k +35,596
46 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 79,36879.4k $1.1m $1.1m 0.00% Added +39.9k +39,900
47 Uniplan Investment Counsel, Inc. 0.11% of their portfolio MILWAUKEE, WI 76,73176.7k $1.1m $1.1m 0.11% New
48 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 76,57776.6k $1.1m $1.1m 0.00% Added +7.7k +7,713
49 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 76,49976.5k $1.1m $1.1m 0.00% Added +7.0k +6,983
50 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 66,88666.9k $940.4k $940.4k 0.00% Added +43.1k +43,096
51 Quantbot Technologies LP 0.02% of their portfolio NEW YORK, NY 65,03865.0k $914.4k $914.4k 0.02% Added +49.3k +49,261
52 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 61,57361.6k $865.7k $865.7k 0.00% Added +25.3k +25,293
53 Inspire Investing, LLC 0.09% of their portfolio MERIDIAN, ID 61,49461.5k $864.6k $864.6k 0.09% New
54 Nebula Research & Development LLC 0.07% of their portfolio New York, NY 57,55457.6k $809.2k $809.2k 0.07% Reduced -25.3k -25,323
55 Verition Fund Management LLC 0.00% of their portfolio GREENWICH, CT 57,42757.4k $807.4k $807.4k 0.00% Added +37.0k +36,962
56 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 56,82856.8k $799.0k $799.0k 0.00% Added +2.6k +2,552
57 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 56,01056.0k $787.5k $787.5k 0.00% Unchanged
58 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 55,43755.4k $779.4k $779.4k 0.00% Added +52.4k +52,393
59 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 51,35851.4k $723.1k $723.1k 0.00% Reduced -866 -866
60 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 44,98745.0k $632.5k $632.5k 0.00% Reduced -5.3k -5,307
61 Abel Hall, LLC 0.25% of their portfolio BATON ROUGE, LA 39,04139.0k $548.9k $548.9k 0.25% New
62 Legal & General Group Plc 0.00% of their portfolio London, X0 37,55537.6k $528.2k $528.2k 0.00% Reduced -2.0k -1,951
63 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 37,07437.1k $521.3k $521.3k 0.00% Added +1.5k +1,481
64 Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio TRENTON, NJ 36,48036.5k $512.9k $512.9k 0.00% Added +2.5k +2,457
65 AVIVA PLC 0.00% of their portfolio LONDON, X0 35,80635.8k $503.4k $503.4k 0.00% Reduced -17.7k -17,723
66 STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio MADISON, WI 35,65335.7k $501.3k $501.3k 0.00% New
67 Yorktown Management & Research Co Inc 0.46% of their portfolio Forest, VA 34,00034.0k $478.0k $478.0k 0.46% Unchanged
68 TUDOR INVESTMENT CORP ET AL 0.00% of their portfolio STAMFORD, CT 33,41733.4k $469.8k $469.8k 0.00% New
69 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio CAUSEWAY BAY, K3 33,05933.1k $464.8k $464.8k 0.00% Reduced -1.3k -1,271
70 Formidable Asset Management, LLC 0.08% of their portfolio CINCINNATI, OH 31,96932.0k $449.5k $449.5k 0.08% Reduced -1.8k -1,826
71 Tidal Investments LLC 0.00% of their portfolio Milwaukee, WI 31,96932.0k $449.5k $449.5k 0.00% Reduced -2.7k -2,680
72 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 30,05030.1k $423.0k $423.0k 0.00% Added +5.2k +5,229
73 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 29,95029.9k $421.1k $421.1k 0.00% New
74 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 27,91627.9k $392.5k $392.5k 0.00% Added +11.9k +11,950
75 PENSION & WEALTH MANAGEMENT ADVISORS, INC. 0.13% of their portfolio WALTHAM, MA 27,36927.4k $384.8k $384.8k 0.13% Reduced -18.4k -18,393
76 Solstein Capital, LLC 0.19% of their portfolio Menlo Park, CA 26,30026.3k $369.8k $369.8k 0.19% Unchanged
77 Centiva Capital, LP 0.02% of their portfolio New York, NY 24,92424.9k $350.4k $350.4k 0.02% Reduced -3.8k -3,798
78 Brookwood Investment Group LLC 0.06% of their portfolio PHOENIX, AZ 24,63124.6k $346.3k $346.3k 0.06% Added +7.2k +7,195
79 INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio WEST PALM BEACH, FL 23,64823.6k $332.5k $332.5k 0.00% Reduced -21.0k -20,998
80 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 22,14022.1k $311.3k $311.3k 0.00% Added +1.4k +1,366
81 Farther Finance Advisors, LLC 0.01% of their portfolio SAN FRANCISCO, CA 21,72121.7k $305.4k $305.4k 0.01% Added +6.5k +6,495
82 Wellington Shields Capital Management, LLC 0.05% of their portfolio NEW YORK, NY 21,50021.5k $302.3k $302.3k 0.05% Unchanged
83 INCEPTIONR LLC 0.07% of their portfolio Lafayette, CA 21,27421.3k $299.1k $299.1k 0.07% New
84 Dodge & Cox 0.00% of their portfolio San Francisco, CA 21,20021.2k $298.1k $298.1k 0.00% Added +1.4k +1,400
85 Ethic Inc. 0.01% of their portfolio NEW YORK, NY 20,84320.8k $286.0k $286.0k 0.01% Added +9.3k +9,274
86 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 20,36220.4k $286.3k $286.3k 0.00% Added +2.6k +2,635
87 Wellington Shields & Co., LLC 0.07% of their portfolio NEW YORK, NY 18,40018.4k $258.7k $258.7k 0.07% Unchanged
88 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 18,23518.2k $256.4k $256.4k 0.00% New
89 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 17,51817.5k $246.3k $246.3k 0.00% Added +2.5k +2,496
90 Jump Financial, LLC 0.00% of their portfolio Chicago, IL 17,24517.2k $242.5k $242.5k 0.00% New
91 Magnetar Financial LLC 0.00% of their portfolio EVANSTON, IL 17,20117.2k $241.8k $241.8k 0.00% New
92 VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio ATLANTA, GA 16,50316.5k $232.0k $232.0k 0.00% Reduced -13.7k -13,661
93 STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio TALLAHASSEE, FL 15,68015.7k $220.5k $220.5k 0.00% Unchanged
94 Mutual Advisors, LLC 0.01% of their portfolio OMAHA, NE 15,14715.1k $207.5k $207.5k 0.01% New
95 Sonora Investment Management Group, LLC 0.01% of their portfolio TUCSON, AZ 14,00014.0k $196.8k $196.8k 0.01% New
96 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio COLUMBUS, OH 13,90013.9k $195.4k $195.4k 0.00% Added +1.0k +1,000
97 Pictet Asset Management Holding SA 0.00% of their portfolio CAROUGE, V8 12,92212.9k $181.7k $181.7k 0.00% New
98 Allegheny Financial Group 0.04% of their portfolio Pittsburgh, PA 12,54612.5k $176.4k $176.4k 0.04% Reduced -155 -155
99 TOKIO MARINE ASSET MANAGEMENT CO LTD 0.01% of their portfolio Tokyo, M0 12,38012.4k $174.1k $174.1k 0.01% Unchanged
100 ProShare Advisors LLC 0.00% of their portfolio BETHESDA, MD 12,33212.3k $173.4k $173.4k 0.00% Reduced -185 -185