Vault-13

JBS N.V. JBS

CL A SHS · Common Stock · CUSIP N4732M103

233 institutional holders +64 vs Q2 2025
155,106,852155.1m shares reported held*
$2.3bnreported value*
90 new 81 added 48 reduced 26 sold out net bought ≈ $1.2bn (+78.2m 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 ($11.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $14.92. Options: 16 managers hold calls ($263.0m notional), 9 hold puts ($90.3m).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q4 23: 1Q1 24: 0Q2 24: 1Q3 24: 0Q4 24: 0Q1 25: 0Q2 25: 169Q3 25: 233233Q4 23Q2 24Q4 24Q2 25Q3 25
Numbers
QuarterHolders
Q4 20231
Q1 20240
Q2 20241
Q3 20240
Q4 20240
Q1 20250
Q2 2025169
Q3 2025233

Calls vs puts

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

CallsPuts
$0$100m$200m$300mQ4 24 calls: $0Q4 24 puts: $0Q4 24P/C —Q1 25 calls: $0Q1 25 puts: $0Q1 25P/C —Q2 25 calls: $93.6mQ2 25 puts: $1.1mQ2 25P/C 0.01Q3 25 calls: $263.0mQ3 25 puts: $90.3mQ3 25P/C 0.34
Numbers
QuarterCallsPutsP/C
Q4 2024$0$0—
Q1 2025$0$0—
Q2 2025$93.6m$1.1m0.01
Q3 2025$263.0m$90.3m0.34

Biggest buyers

BlackRock, Inc. Added +21,678,945+21.7m
Banco BTG Pactual S.A. New +9,589,738+9.6m
D. E. Shaw & Co., Inc. Added +8,571,831+8.6m
AMERIPRISE FINANCIAL INC Added +6,555,634+6.6m
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Added +3,578,483+3.6m
Alberta Investment Management Corp Added +2,850,000+2.9m
MARSHALL WACE, LLP Added +2,733,609+2.7m
BNP PARIBAS FINANCIAL MARKETS Added +2,454,935+2.5m
TWO SIGMA INVESTMENTS, LP New +2,323,336+2.3m
JANE STREET GROUP, LLC Added +2,210,828+2.2m

Biggest sellers

JPMORGAN CHASE & CO Reduced -6,008,104-6.0m
MORGAN STANLEY Reduced -3,048,989-3.0m
BANK OF AMERICA CORP /DE/ Reduced -2,165,163-2.2m
Candlestick Capital Management LP Sold out -2,029,657-2.0m
DENDUR CAPITAL LP Sold out -1,920,000-1.9m
Verition Fund Management LLC Reduced -1,516,693-1.5m
Maple Rock Capital Partners Inc. Reduced -1,154,400-1.2m
Hartree Partners, LP Reduced -786,533-786.5k
Sagil Capital LLP Sold out -652,650-652.6k
Burkehill Global Management, LP Sold out -500,000-500.0k

Biggest calls

GOLDMAN SACHS GROUP INC Added $55.1m3.7m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $53.1m3.6m shares
TOMS Capital Investment Management LP Added $46.9m3.1m shares
GROUP ONE TRADING LLC Added $26.6m1.8m shares
PEAK6 LLC New $25.8m1.7m shares
JANE STREET GROUP, LLC New $20.1m1.3m shares
SIMPLEX TRADING, LLC Added $9.7m651.3k shares
CITADEL ADVISORS LLC Added $6.9m463.9k shares
Caption Management, LLC New $4.9m325.2k shares
HIGHBRIDGE CAPITAL MANAGEMENT LLC New $3.7m250.0k shares

Biggest puts

JANE STREET GROUP, LLC New $47.5m3.2m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $10.3m690.5k shares
SIMPLEX TRADING, LLC Added $7.7m519.0k shares
CITADEL ADVISORS LLC New $6.6m440.2k shares
GROUP ONE TRADING LLC Added $6.0m401.5k shares
BANK OF AMERICA CORP /DE/ Added $5.0m337.9k shares
GOLDMAN SACHS GROUP INC New $3.5m234.5k shares
MILLENNIUM MANAGEMENT LLC New $2.2m150.0k shares
WOLVERINE TRADING, LLC New $1.5m97.0k 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
J&F S.A. 13G · exempt (held before listing) new · filed 2025-08-14 48.3% new 536.1m≈ $6.4bn 2025-08-14
BNDES Participacoes S.A. 13G · exempt (held before listing) new · filed 2025-08-14 24.8% new 201.7m≈ $2.4bn 2025-08-14
DAVIS SELECTED ADVISERS 13G · institution new · filed 2026-08-12 6.5% new 50.0m≈ $592.7m 2026-08-12

Fell to 5% or below in the last year: Capital Research Global Investors (4.4%, 2026-08-12)

Insider purchases and sales in Q3 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 Q3 2025.

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BlackRock, Inc. 0.01% of their portfolio New York, NY 23,412,26823.4m $349.5m $349.5m 0.01% Added +21.7m +21,678,945
2 D. E. Shaw & Co., Inc. 0.12% of their portfolio New York, NY 9,727,6919.7m $145.2m $145.2m 0.12% Added +8.6m +8,571,831
3 Banco BTG Pactual S.A. 20.93% of their portfolio RIO DE JANEIRO, D5 9,589,7389.6m $143.2m $143.2m 20.93% New
4 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 6,583,0736.6m $98.3m $98.3m 0.02% Added +6.6m +6,555,634
5 MILLENNIUM MANAGEMENT LLC 0.07% of their portfolio NEW YORK, NY 5,988,6976.0m $89.4m $89.4m 0.07% Added +1.5m +1,520,182
6 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 5,811,1725.8m $86.8m $86.8m 0.00% Added +54.2k +54,246
7 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 5,078,0425.1m $75.8m $75.8m 0.00% Reduced -6.0m -6,008,104
8 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 4,505,3694.5m $67.3m $67.3m 0.00% Reduced -3.0m -3,048,989
9 Alberta Investment Management Corp 0.46% of their portfolio EDMONTON, A0 4,234,3004.2m $63.2m $63.2m 0.46% Added +2.9m +2,850,000
10 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.04% of their portfolio BOSTON, MA 3,954,2674.0m $59.0m $59.0m 0.04% Added +3.6m +3,578,483
11 VAN ECK ASSOCIATES CORP 0.05% of their portfolio NEW YORK, NY 3,307,8053.3m $49.4m $49.4m 0.05% Reduced -163.6k -163,600
12 MARSHALL WACE, LLP 0.05% of their portfolio LONDON, X0 3,089,9333.1m $46.1m $46.1m 0.05% Added +2.7m +2,733,609
13 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 3,076,8463.1m $45.9m $45.9m 0.01% Added +1.7m +1,726,296
14 BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio PARIS, I0 2,803,8562.8m $41.9m $41.9m 0.03% Added +2.5m +2,454,935
15 JANE STREET GROUP, LLC 0.04% of their portfolio NEW YORK, NY 2,430,2032.4m $36.3m $36.3m 0.04% Added +2.2m +2,210,828
16 TWO SIGMA INVESTMENTS, LP 0.05% of their portfolio NEW YORK, NY 2,323,3362.3m $34.7m $34.7m 0.05% New
17 Woodline Partners LP 0.16% of their portfolio San Francisco, CA 2,255,3392.3m $33.7m $33.7m 0.16% Added +1.9m +1,850,813
18 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 2,211,6842.2m $33.0m $33.0m 0.01% Added +2.1m +2,137,761
19 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 2,179,6662.2m $32.2m $32.2m 0.00% Added +51.8k +51,766
20 HRT FINANCIAL LP 0.14% of their portfolio NEW YORK, NY 2,051,6852.1m $30.6m $30.6m 0.14% Added +1.7m +1,686,938
21 AQR CAPITAL MANAGEMENT LLC 0.02% of their portfolio Greenwich, CT 2,045,9752.0m $30.5m $30.5m 0.02% Added +2.0m +2,006,798
22 TWO SIGMA ADVISERS, LP 0.06% of their portfolio NEW YORK, NY 1,999,2002.0m $29.8m $29.8m 0.06% New
23 Legal & General Group Plc 0.01% of their portfolio London, X0 1,787,6931.8m $26.7m $26.7m 0.01% Added +453.6k +453,607
24 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 1,735,5501.7m $25.9m $25.9m 0.00% Added +912.9k +912,901
25 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,649,9801.6m $24.6m $24.6m 0.00% Reduced -2.2m -2,165,163
26 DEUTSCHE BANK AG\ 0.01% of their portfolio FRANKFURT AM MAIN, 2M 1,589,5711.6m $23.7m $23.7m 0.01% Added +1.6m +1,584,287
27 OAKTREE CAPITAL MANAGEMENT LP 0.39% of their portfolio LOS ANGELES, CA 1,580,4001.6m $23.6m $23.6m 0.39% Added +1.3m +1,341,790
28 Point72 Asset Management, L.P. 0.05% of their portfolio STAMFORD, CT 1,551,3001.6m $23.2m $23.2m 0.05% New
29 Flat Footed LLC 4.64% of their portfolio WILSON, WY 1,531,6891.5m $22.9m $22.9m 4.64% Added +643.3k +643,263
30 Qube Research & Technologies Ltd 0.03% of their portfolio LONDON, X0 1,375,1641.4m $20.5m $20.5m 0.03% Added +1.1m +1,117,187
31 Loews Corp 0.16% of their portfolio New York, NY 1,330,0001.3m $19.9m $19.9m 0.16% Unchanged
32 Ramirez Asset Management, Inc. 2.46% of their portfolio NEW YORK, NY 1,184,4041.2m $17.7m $17.7m 2.46% Added +370.2k +370,168
33 Jump Financial, LLC 0.20% of their portfolio Chicago, IL 1,061,3381.1m $15.8m $15.8m 0.20% New
34 Maple Rock Capital Partners Inc. 0.64% of their portfolio Toronto, A6 1,059,3061.1m $15.8m $15.8m 0.64% Reduced -1.2m -1,154,400
35 Bayberry Capital Partners LP 4.31% of their portfolio NEW YORK, NY 1,002,0001.0m $15.0m $15.0m 4.31% Added +139.2k +139,185
36 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 1,001,6411.0m $15.0m $15.0m 0.01% Added +773.2k +773,195
37 California Public Employees Retirement System 0.01% of their portfolio Sacramento, CA 992,920992.9k $14.8m $14.8m 0.01% New
38 Verition Fund Management LLC 0.08% of their portfolio GREENWICH, CT 962,818962.8k $14.4m $14.4m 0.08% Reduced -1.5m -1,516,693
39 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 874,621874.6k $13.1m $13.1m 0.01% Added +534.5k +534,526
40 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 856,543856.5k $12.8m $12.8m 0.01% New
41 Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio CHIYODA-KU, TOKYO, M0 803,813803.8k $12.0m $12.0m 0.01% Added +535.5k +535,463
42 FEDERATED HERMES, INC. 0.02% of their portfolio PITTSBURGH, PA 777,046777.0k $11.6m $11.6m 0.02% Added +728.2k +728,219
43 Cinctive Capital Management LP 0.57% of their portfolio New York, NY 759,284759.3k $11.3m $11.3m 0.57% Added +384.6k +384,618
44 Hartree Partners, LP 3.82% of their portfolio NEW YORK, NY 736,441736.4k $11.0m $11.0m 3.82% Reduced -786.5k -786,533
45 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 691,916691.9k $10.3m $10.3m 0.00% Reduced -84.3k -84,257
46 Rivermont Capital Management LP 2.69% of their portfolio NEW YORK, NY 680,978681.0k $10.2m $10.2m 2.69% Added +204.7k +204,728
47 BW Gestao de Investimentos Ltda. 0.75% of their portfolio SAO PAULO, D5 662,000662.0k $9.9m $9.9m 0.75% Added +60.0k +60,000
48 Private Advisory Group LLC 0.85% of their portfolio REDMOND, WA 650,588650.6k $9.7m $9.7m 0.85% Added +87.0k +86,969
49 UBS Group AG 0.00% of their portfolio ZURICH, V8 643,392643.4k $9.6m $9.6m 0.00% Added +635.0k +635,035
50 Quantbot Technologies LP 0.25% of their portfolio NEW YORK, NY 618,650618.6k $9.2m $9.2m 0.25% New
51 Cubist Systematic Strategies, LLC 0.11% of their portfolio STAMFORD, CT 515,320515.3k $7.7m $7.7m 0.11% New
52 COHEN & STEERS, INC. 0.01% of their portfolio NEW YORK, NY 496,649496.6k $7.4m $7.4m 0.01% Added +173.6k +173,550
53 DISCOVERY CAPITAL MANAGEMENT, LLC / CT 0.39% of their portfolio SOUTH NORWALK, CT 480,200480.2k $7.2m $7.2m 0.39% Added +62.5k +62,500
54 Quinn Opportunity Partners LLC 0.51% of their portfolio CHARLOTTESVILLE, VA 470,901470.9k $7.0m $7.0m 0.51% Added +460.9k +460,901
55 Amundi 0.00% of their portfolio Paris, I0 444,735444.7k $6.0m $6.0m 0.00% New
56 Pictet Asset Management Holding SA 0.01% of their portfolio CAROUGE, V8 421,530421.5k $6.3m $6.3m 0.01% New
57 Carrhae Capital LLP 0.57% of their portfolio London, X0 404,673404.7k $6.0m $6.0m 0.57% New
58 Journey Advisory Group, LLC 0.43% of their portfolio COVINGTON, KY 388,881388.9k $5.8m $5.8m 0.43% Reduced -4.7k -4,684
59 Schonfeld Strategic Advisors LLC 0.04% of their portfolio NEW YORK, NY 378,074378.1k $5.6m $5.6m 0.04% Added +150.3k +150,281
60 Mitsubishi UFJ Trust & Banking Corp 0.01% of their portfolio TOKYO, M0 366,840366.8k $5.5m $5.5m 0.01% Added +293.6k +293,640
61 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 351,514351.5k $5.2m $5.2m 0.00% Reduced -69.9k -69,858
62 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 340,643340.6k $5.1m $5.1m 0.00% Added +140.3k +140,275
63 Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio TOKYO, M0 337,800337.8k $5.0m $5.0m 0.00% New
64 NewEdge Wealth, LLC 0.06% of their portfolio STAMFORD, CT 330,206330.2k $4.5m $4.5m 0.06% Added +27.3k +27,319
65 MOORE CAPITAL MANAGEMENT, LP 0.10% of their portfolio NEW YORK, NY 320,000320.0k $4.8m $4.8m 0.10% Reduced -250.5k -250,549
66 Aberdeen Group plc 0.01% of their portfolio EDINBURGH, X0 317,627317.6k $4.8m $4.8m 0.01% Added +304.8k +304,833
67 SG Americas Securities, LLC 0.02% of their portfolio NEW YORK, NY 317,044317.0k $4.7m $4.7m 0.02% Reduced -34.9k -34,899
68 PRUDENTIAL FINANCIAL INC 0.01% of their portfolio NEWARK, NJ 315,700315.7k $5.2m $5.2m 0.01% New
69 Appian Way Asset Management LP 1.01% of their portfolio NEW YORK, NY 310,681310.7k $4.6m $4.6m 1.01% New
70 Public Sector Pension Investment Board 0.02% of their portfolio MONTREAL, A8 295,246295.2k $4.4m $4.4m 0.02% Reduced -33.8k -33,800
71 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 292,981293.0k $4.4m $4.4m 0.00% Added +269.5k +269,487
72 LEVIN CAPITAL STRATEGIES, L.P. 0.39% of their portfolio NEW YORK, NY 286,108286.1k $4.3m $4.3m 0.39% Added +141.2k +141,187
73 Allianz Asset Management GmbH 0.01% of their portfolio MUNICH, 2M 279,288279.3k $4.2m $4.2m 0.01% Unchanged
74 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 276,540276.5k $4.1m $4.1m 0.00% Added +1.5k +1,474
75 HIGHBRIDGE CAPITAL MANAGEMENT LLC 0.20% of their portfolio NEW YORK, NY 270,323270.3k $4.0m $4.0m 0.20% New
76 MIRABELLA FINANCIAL SERVICES LLP 0.32% of their portfolio London, X0 246,182246.2k $3.7m $3.7m 0.32% New
77 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 246,000246.0k $3.7m $3.7m 0.00% New
78 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 218,955219.0k $3.3m $3.3m 0.00% New
79 SANDERS MORRIS HARRIS LLC 0.38% of their portfolio Houston, TX 194,825194.8k $2.9m $2.9m 0.38% New
80 CWA Asset Management Group, LLC 0.11% of their portfolio NAPLES, FL 192,068192.1k $2.9m $2.9m 0.11% Added +26.4k +26,383
81 LONGFELLOW INVESTMENT MANAGEMENT CO LLC 0.66% of their portfolio BOSTON, MA 185,783185.8k $2.8m $2.8m 0.66% Added +82.7k +82,705
82 Man Group plc 0.01% of their portfolio LONDON, X0 182,988183.0k $2.7m $2.7m 0.01% Added +71.2k +71,242
83 Aware Super Pty Ltd as trustee of Aware Super 0.04% of their portfolio SYDNEY, C3 173,350173.3k $2.6m $2.6m 0.04% New
84 BOOTHBAY FUND MANAGEMENT, LLC 0.07% of their portfolio NEW YORK, NY 173,240173.2k $2.6m $2.6m 0.07% Added +95.5k +95,489
85 Steadtrust LLC 1.75% of their portfolio ALLEN, TX 172,830172.8k $2.6m $2.6m 1.75% Added +2.5k +2,500
86 BTG Pactual Asset Management US LLC 0.26% of their portfolio NEW YORK, NY 145,953146.0k $2.2m $2.2m 0.26% Reduced -194.4k -194,364
87 Capital Research Global Investors 0.00% of their portfolio Los Angeles, CA 145,352145.4k $2.2m $2.2m 0.00% Added +839 +839
88 SIMPLEX TRADING, LLC 0.05% of their portfolio CHICAGO, IL 142,980143.0k $2.1m $2.1m 0.05% Added +127.2k +127,224
89 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.01% of their portfolio VICTORIA, A1 142,400142.4k $2.1m $2.1m 0.01% Reduced -9.2k -9,200
90 Engineers Gate Manager LP 0.02% of their portfolio NEW YORK, NY 141,115141.1k $2.1m $2.1m 0.02% Added +101.5k +101,515
91 Dauntless Investment Group, LLC 5.51% of their portfolio Milford, MI 140,569140.6k $2.1m $2.1m 5.51% Added +83.5k +83,541
92 NOMURA HOLDINGS INC 0.01% of their portfolio TOKYO, M0 138,654138.7k $2.1m $2.1m 0.01% New
93 Korea Investment CORP 0.00% of their portfolio SEOUL, M5 138,362138.4k $2.1m $2.1m 0.00% New
94 APG Asset Management N.V. 0.00% of their portfolio Amsterdam, P7 134,800134.8k $1.7m $1.7m 0.00% New
95 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 126,439126.4k $1.9m $1.9m 0.00% Added +33.6k +33,579
96 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 111,525111.5k $1.7m $1.7m 0.00% Added +2.7k +2,664
97 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 107,554107.6k $1.6m $1.6m 0.00% New
98 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 105,267105.3k $1.6m $1.6m 0.00% New
99 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 104,954105.0k $1.6m $1.6m 0.00% Added +31.1k +31,136
100 ExodusPoint Capital Management, LP 0.02% of their portfolio NEW YORK, NY 103,665103.7k $1.5m $1.5m 0.02% Reduced -66.3k -66,335