PATRIA INVESTMENTS LIMITED PAX
COM CL A · Common Stock · CUSIP G69451105
- SectorFinancials
- IndustryInvestment Advice
- 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 ($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
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 55 |
| Q4 2022 | 62 |
| Q1 2023 | 70 |
| Q2 2023 | 91 |
| Q3 2023 | 96 |
| Q4 2023 | 108 |
| Q1 2024 | 122 |
| Q2 2024 | 123 |
| Q3 2024 | 128 |
| Q4 2024 | 136 |
| Q1 2025 | 142 |
| Q2 2025 | 147 |
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 | 53 | 42 |
| Q4 2023 | 61 | 38 |
| Q1 2024 | 80 | 37 |
| Q2 2024 | 74 | 53 |
| Q3 2024 | 66 | 60 |
| Q4 2024 | 67 | 71 |
| Q1 2025 | 66 | 71 |
| Q2 2025 | 87 | 62 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $389.1k | $1.8m | 4.55 |
| Q4 2024 | $418.2k | $1.8m | 4.40 |
| Q1 2025 | $962.2k | $1.4m | 1.45 |
| Q2 2025 | $1.4m | $1.1m | 0.78 |
Biggest buyers
| UBS Group AG | Added | +1.4m |
| MILLENNIUM MANAGEMENT LLC | Added | +493.2k |
| MHR FUND MANAGEMENT LLC | Added | +428.0k |
| 683 Capital Management, LLC | New | +400.0k |
| Inherent Management Corp. | Added | +258.0k |
| GLOBEFLEX CAPITAL L P | New | +218.0k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Added | +202.2k |
| DENALI ADVISORS LLC | Added | +144.6k |
| Allianz Asset Management GmbH | New | +140.0k |
| AMERICAN CENTURY COMPANIES INC | Added | +133.3k |
Biggest sellers
| Grandeur Peak Global Advisors, LLC | Reduced | -812.1k |
| FMR LLC | Reduced | -397.0k |
| Nuveen, LLC | Reduced | -357.0k |
| FIL Ltd | Reduced | -288.3k |
| Capital International Investors | Sold out | -251.3k |
| GOLDMAN SACHS GROUP INC | Reduced | -177.9k |
| Amitell Capital Pte Ltd | Reduced | -175.4k |
| Praetorian PR LLC | Sold out | -155.0k |
| Trexquant Investment LP | Sold out | -100.8k |
| BlackRock, Inc. | Reduced | -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.
| Holder | Stake |
|---|---|
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% |
| FMR LLC 13G · institution +1.3 pts · filed 2025-11-05 | 10.0% |
| Endure Capital Management, LLC 13G · passive investor +2.2 pts · filed 2026-05-15 | 9.3% |
| Pertento Partners LLP 13G · passive investor +1.4 pts · filed 2026-05-15 | 8.0% |
| BlackRock, Inc. 13G · institution filed 2025-04-23 | 7.6% |
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
| Manager | Shares | Change |
|---|---|---|
| Capital Research Global Investors 0.03% of their portfolio | 9.7m $136.7m | Reduced -72.5k |
| FMR LLC 0.00% of their portfolio | 5.6m $79.4m | Reduced -397.0k |
| BlackRock, Inc. 0.00% of their portfolio | 4.9m $69.5m | Reduced -100.1k |
| Pertento Partners LLP 5.27% of their portfolio | 3.3m $46.6m | Added +8.4k |
| SAMLYN CAPITAL, LLC 0.39% of their portfolio | 1.9m $27.0m | Reduced -84.0k |
| UBS Group AG 0.01% of their portfolio | 1.7m $24.4m | Added +1.4m |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.04% of their portfolio | 1.6m $22.8m | Reduced -3.8k |
| Inherent Management Corp. 10.45% of their portfolio | 1.5m $20.6m | Added +258.0k |
| STATE STREET CORP 0.00% of their portfolio | 1.3m $18.1m | Added +62.3k |
| Nuveen, LLC 0.00% of their portfolio | 839.0k $11.8m | Reduced -357.0k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 834.1k $11.7m | Added +493.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 830.3k $11.7m | Added +75.7k |
| Grandeur Peak Global Advisors, LLC 1.38% of their portfolio | 812.3k $11.4m | Reduced -812.1k |
| MHR FUND MANAGEMENT LLC 0.98% of their portfolio | 628.0k $8.8m | Added +428.0k |
| Amitell Capital Pte Ltd 4.75% of their portfolio | 601.1k $8.5m | Reduced -175.4k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 597.4k $8.4m | Added +53.9k |
| VANGUARD GROUP INC 0.00% of their portfolio | 422.9k $5.9m | Added +39.3k |
| 683 Capital Management, LLC 0.57% of their portfolio | 400.0k $5.6m | New |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 273.4k $3.8m | Reduced -362 |
| FIL Ltd 0.00% of their portfolio | 266.9k $3.8m | Reduced -288.3k |
| MORGAN STANLEY 0.00% of their portfolio | 238.0k $3.3m | Reduced -16.4k |
| DENALI ADVISORS LLC 0.34% of their portfolio | 234.8k $3.3m | Added +144.6k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.01% of their portfolio | 227.2k $3.2m | Added +202.2k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 218.7k $3.1m | Added +127.7k |
| GLOBEFLEX CAPITAL L P 0.25% of their portfolio | 218.0k $3.1m | New |
| Invesco Ltd. 0.00% of their portfolio | 207.9k $2.9m | Added +103.9k |
| CITIGROUP INC 0.00% of their portfolio | 191.7k $2.7m | Added +124.2k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 172.8k $2.4m | Added +133.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 151.4k $2.1m | Added +11.8k |
| NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio | 151.0k $2.1m | Added +38.2k |
| Robeco Institutional Asset Management B.V. 0.00% of their portfolio | 150.0k $2.1m | Unchanged |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 149.0k $2.1m | Added +81.8k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 140.5k $2.0m | Added +5.2k |
| Allianz Asset Management GmbH 0.00% of their portfolio | 140.0k $2.0m | New |
| FEDERATED HERMES, INC. 0.00% of their portfolio | 135.0k $1.9m | Unchanged |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 132.1k $1.9m | Reduced -177.9k |
| Aurora Investment Counsel 0.90% of their portfolio | 120.8k $1.7m | Reduced -1.4k |
| BARCLAYS PLC 0.00% of their portfolio | 106.5k $1.5m | Added +43.8k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 92.7k $1.3m | Added +10.4k |
| TT Capital Management LLC 1.01% of their portfolio | 88.3k $1.2m | Added +12.8k |
| EAGLE HARBOR ASSET MANAGEMENT INC /ADV 1.16% of their portfolio | 85.6k $1.2m | Reduced -17.3k |
| ALGERT GLOBAL LLC 0.02% of their portfolio | 82.0k $1.2m | Added +47.9k |
| MARTINGALE ASSET MANAGEMENT L P 0.03% of their portfolio | 80.4k $1.1m | Added +5.9k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 79.6k $1.1m | Reduced -14.9k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 79.4k $1.1m | Added +35.6k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 79.4k $1.1m | Added +39.9k |
| Uniplan Investment Counsel, Inc. 0.11% of their portfolio | 76.7k $1.1m | New |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 76.6k $1.1m | Added +7.7k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 76.5k $1.1m | Added +7.0k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 66.9k $940.4k | Added +43.1k |
| Quantbot Technologies LP 0.02% of their portfolio | 65.0k $914.4k | Added +49.3k |
| Creative Planning 0.00% of their portfolio | 61.6k $865.7k | Added +25.3k |
| Inspire Investing, LLC 0.09% of their portfolio | 61.5k $864.6k | New |
| Nebula Research & Development LLC 0.07% of their portfolio | 57.6k $809.2k | Reduced -25.3k |
| Verition Fund Management LLC 0.00% of their portfolio | 57.4k $807.4k | Added +37.0k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 56.8k $799.0k | Added +2.6k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 56.0k $787.5k | Unchanged |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 55.4k $779.4k | Added +52.4k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 51.4k $723.1k | Reduced -866 |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 45.0k $632.5k | Reduced -5.3k |
| Abel Hall, LLC 0.25% of their portfolio | 39.0k $548.9k | New |
| Legal & General Group Plc 0.00% of their portfolio | 37.6k $528.2k | Reduced -2.0k |
| MetLife Investment Management, LLC 0.00% of their portfolio | 37.1k $521.3k | Added +1.5k |
| Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio | 36.5k $512.9k | Added +2.5k |
| AVIVA PLC 0.00% of their portfolio | 35.8k $503.4k | Reduced -17.7k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 35.7k $501.3k | New |
| Yorktown Management & Research Co Inc 0.46% of their portfolio | 34.0k $478.0k | Unchanged |
| TUDOR INVESTMENT CORP ET AL 0.00% of their portfolio | 33.4k $469.8k | New |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 33.1k $464.8k | Reduced -1.3k |
| Formidable Asset Management, LLC 0.08% of their portfolio | 32.0k $449.5k | Reduced -1.8k |
| Tidal Investments LLC 0.00% of their portfolio | 32.0k $449.5k | Reduced -2.7k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 30.1k $423.0k | Added +5.2k |
| MARSHALL WACE, LLP 0.00% of their portfolio | 29.9k $421.1k | New |
| Quantinno Capital Management LP 0.00% of their portfolio | 27.9k $392.5k | Added +11.9k |
| PENSION & WEALTH MANAGEMENT ADVISORS, INC. 0.13% of their portfolio | 27.4k $384.8k | Reduced -18.4k |
| Solstein Capital, LLC 0.19% of their portfolio | 26.3k $369.8k | Unchanged |
| Centiva Capital, LP 0.02% of their portfolio | 24.9k $350.4k | Reduced -3.8k |
| Brookwood Investment Group LLC 0.06% of their portfolio | 24.6k $346.3k | Added +7.2k |
| INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 23.6k $332.5k | Reduced -21.0k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 22.1k $311.3k | Added +1.4k |
| Farther Finance Advisors, LLC 0.01% of their portfolio | 21.7k $305.4k | Added +6.5k |
| Wellington Shields Capital Management, LLC 0.05% of their portfolio | 21.5k $302.3k | Unchanged |
| INCEPTIONR LLC 0.07% of their portfolio | 21.3k $299.1k | New |
| Dodge & Cox 0.00% of their portfolio | 21.2k $298.1k | Added +1.4k |
| Ethic Inc. 0.01% of their portfolio | 20.8k $286.0k | Added +9.3k |
| NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio | 20.4k $286.3k | Added +2.6k |
| Wellington Shields & Co., LLC 0.07% of their portfolio | 18.4k $258.7k | Unchanged |
| LPL Financial LLC 0.00% of their portfolio | 18.2k $256.4k | New |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 17.5k $246.3k | Added +2.5k |
| Jump Financial, LLC 0.00% of their portfolio | 17.2k $242.5k | New |
| Magnetar Financial LLC 0.00% of their portfolio | 17.2k $241.8k | New |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 16.5k $232.0k | Reduced -13.7k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio | 15.7k $220.5k | Unchanged |
| Mutual Advisors, LLC 0.01% of their portfolio | 15.1k $207.5k | New |
| Sonora Investment Management Group, LLC 0.01% of their portfolio | 14.0k $196.8k | New |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio | 13.9k $195.4k | Added +1.0k |
| Pictet Asset Management Holding SA 0.00% of their portfolio | 12.9k $181.7k | New |
| Allegheny Financial Group 0.04% of their portfolio | 12.5k $176.4k | Reduced -155 |
| TOKIO MARINE ASSET MANAGEMENT CO LTD 0.01% of their portfolio | 12.4k $174.1k | Unchanged |
| ProShare Advisors LLC 0.00% of their portfolio | 12.3k $173.4k | Reduced -185 |