JBS N.V. JBS
CL A SHS · Common Stock · CUSIP N4732M103
- SectorConsumer staples
- IndustryMeat Packing Plants
- 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 ($3.8k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $14.42. Options: 12 managers hold calls ($195.3m notional), 7 hold puts ($83.9m).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q4 2023 | 1 |
| Q1 2024 | 0 |
| Q2 2024 | 1 |
| Q3 2024 | 0 |
| Q4 2024 | 0 |
| Q1 2025 | 0 |
| Q2 2025 | 169 |
| Q3 2025 | 233 |
| Q4 2025 | 239 |
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 2025 | 171 | 74 |
| Q4 2025 | 134 | 109 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $0 | $0 | — |
| Q2 2025 | $93.6m | $1.1m | 0.01 |
| Q3 2025 | $263.0m | $90.3m | 0.34 |
| Q4 2025 | $195.3m | $83.9m | 0.43 |
Biggest buyers
| Davis Selected Advisers | New | +11.9m |
| Carrhae Capital LLP | Added | +3.2m |
| DEUTSCHE BANK AG\ | Added | +3.1m |
| DISCOVERY CAPITAL MANAGEMENT, LLC / CT | Added | +2.5m |
| Woodline Partners LP | Added | +2.3m |
| BlackRock, Inc. | Added | +2.1m |
| BRANDES INVESTMENT PARTNERS, LP | New | +1.7m |
| MASON CAPITAL MANAGEMENT LLC | New | +1.3m |
| CITADEL ADVISORS LLC | Added | +1.1m |
| Balyasny Asset Management L.P. | New | +974.5k |
Biggest sellers
| Banco BTG Pactual S.A. | Sold out | -9.6m |
| JPMORGAN CHASE & CO | Reduced | -3.8m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -3.8m |
| D. E. Shaw & Co., Inc. | Reduced | -2.5m |
| JANE STREET GROUP, LLC | Sold out | -2.4m |
| TWO SIGMA ADVISERS, LP | Reduced | -1.9m |
| AQR CAPITAL MANAGEMENT LLC | Reduced | -1.9m |
| TWO SIGMA INVESTMENTS, LP | Reduced | -1.9m |
| OAKTREE CAPITAL MANAGEMENT LP | Sold out | -1.6m |
| Flat Footed LLC | Sold out | -1.5m |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $66.8m4.6m shares |
| GROUP ONE TRADING LLC | Added | $28.4m2.0m shares |
| PEAK6 LLC | Added | $28.0m1.9m shares |
| GOLDMAN SACHS GROUP INC | Reduced | $17.7m1.2m shares |
| JANE STREET GROUP, LLC | Reduced | $16.8m1.2m shares |
| SIMPLEX TRADING, LLC | Added | $13.1m906.2k shares |
| CITADEL ADVISORS LLC | Added | $8.2m568.6k shares |
| Caption Management, LLC | Reduced | $4.4m305.2k shares |
| HIGHBRIDGE CAPITAL MANAGEMENT LLC | Unchanged | $3.6m250.0k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $3.6m250.0k shares |
Biggest puts
| JANE STREET GROUP, LLC | Added | $46.0m3.2m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $13.8m958.9k shares |
| CITADEL ADVISORS LLC | Added | $7.8m543.7k shares |
| SIMPLEX TRADING, LLC | Reduced | $7.2m500.5k shares |
| GROUP ONE TRADING LLC | Reduced | $4.6m315.8k shares |
| GOLDMAN SACHS GROUP INC | Reduced | $3.4m232.4k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $1.1m75.0k 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.
| Holder | Stake |
|---|---|
| J&F S.A. 13G · exempt (held before listing) new · filed 2025-08-14 | 48.3% |
| BNDES Participacoes S.A. 13G · exempt (held before listing) new · filed 2025-08-14 | 24.8% |
| DAVIS SELECTED ADVISERS 13G · institution new · filed 2026-08-12 | 6.5% |
Fell to 5% or below in the last year: Capital Research Global Investors (4.4%, 2026-08-12)
Insider purchases and sales in Q4 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 Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| BNDES Participacoes S.A. 100.00% of their portfolio | 199.3m $2.9bn | First filing |
| BlackRock, Inc. 0.01% of their portfolio | 25.5m $368.3m | Added +2.1m |
| Davis Selected Advisers 0.77% of their portfolio | 11.9m $170.9m | New |
| D. E. Shaw & Co., Inc. 0.08% of their portfolio | 7.2m $103.9m | Reduced -2.5m |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 6.8m $98.6m | Added +257.7k |
| STATE STREET CORP 0.00% of their portfolio | 6.1m $88.5m | Added +327.4k |
| DEUTSCHE BANK AG\ 0.02% of their portfolio | 4.7m $67.5m | Added +3.1m |
| Alberta Investment Management Corp 0.40% of their portfolio | 4.6m $66.7m | Added +388.2k |
| Woodline Partners LP 0.25% of their portfolio | 4.6m $65.7m | Added +2.3m |
| MORGAN STANLEY 0.00% of their portfolio | 4.1m $59.3m | Reduced -395.2k |
| Carrhae Capital LLP 3.51% of their portfolio | 3.6m $52.6m | Added +3.2m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.03% of their portfolio | 3.5m $51.1m | Reduced -413.8k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 3.0m $42.9m | Added +763.4k |
| DISCOVERY CAPITAL MANAGEMENT, LLC / CT 2.30% of their portfolio | 2.9m $42.4m | Added +2.5m |
| BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio | 2.6m $37.4m | Reduced -212.7k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 2.5m $35.6m | Added +314.6k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 2.5m $36.0m | Added +843.2k |
| VAN ECK ASSOCIATES CORP 0.03% of their portfolio | 2.4m $34.3m | Reduced -929.0k |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 2.2m $32.0m | Reduced -3.8m |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 2.1m $30.9m | Added +1.1m |
| MARSHALL WACE, LLP 0.03% of their portfolio | 2.0m $29.5m | Reduced -1.0m |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 1.9m $26.9m | Reduced -1.2m |
| BRANDES INVESTMENT PARTNERS, LP 0.18% of their portfolio | 1.7m $24.2m | New |
| Jump Financial, LLC 0.30% of their portfolio | 1.7m $23.9m | Added +592.9k |
| Legal & General Group Plc 0.01% of their portfolio | 1.6m $23.6m | Reduced -153.8k |
| VANGUARD GROUP INC 0.00% of their portfolio | 1.6m $23.1m | Reduced -137.0k |
| Qube Research & Technologies Ltd 0.03% of their portfolio | 1.4m $20.0m | Added +10.7k |
| HRT FINANCIAL LP 0.08% of their portfolio | 1.4m $19.8m | Reduced -682.1k |
| Loews Corp 0.16% of their portfolio | 1.3m $19.2m | Unchanged |
| MASON CAPITAL MANAGEMENT LLC 3.35% of their portfolio | 1.3m $18.8m | New |
| Ramirez Asset Management, Inc. 2.46% of their portfolio | 1.3m $18.6m | Added +108.1k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.3m $18.6m | Reduced -3.8m |
| CITIGROUP INC 0.01% of their portfolio | 1.2m $17.3m | Added +327.5k |
| Point72 Asset Management, L.P. 0.02% of their portfolio | 1.1m $15.9m | Reduced -447.6k |
| Cinctive Capital Management LP 0.89% of their portfolio | 1.1m $15.4m | Added +311.2k |
| Bayberry Capital Partners LP 4.65% of their portfolio | 1.0m $14.4m | Unchanged |
| Maple Rock Capital Partners Inc. 0.47% of their portfolio | 985.1k $14.2m | Reduced -74.2k |
| Engineers Gate Manager LP 0.17% of their portfolio | 975.2k $14.1m | Added +834.1k |
| Balyasny Asset Management L.P. 0.03% of their portfolio | 974.5k $14.1m | New |
| WINTON GROUP Ltd 0.43% of their portfolio | 857.1k $12.4m | New |
| Quinn Opportunity Partners LLC 0.53% of their portfolio | 845.9k $12.2m | Added +375.0k |
| Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio | 845.7k $12.2m | Added +41.9k |
| Praetorian PR LLC 5.24% of their portfolio | 750.0k $10.8m | New |
| Nuveen, LLC 0.00% of their portfolio | 733.0k $10.6m | Added +41.1k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 732.8k $10.6m | Reduced -123.7k |
| Private Advisory Group LLC 0.81% of their portfolio | 711.5k $10.3m | Added +60.9k |
| California Public Employees Retirement System 0.01% of their portfolio | 708.0k $10.2m | Reduced -285.0k |
| PRUDENTIAL FINANCIAL INC 0.01% of their portfolio | 702.3k $10.1m | Added +386.6k |
| COHEN & STEERS, INC. 0.02% of their portfolio | 658.4k $9.5m | Added +161.7k |
| UBS Group AG 0.00% of their portfolio | 641.3k $9.2m | Reduced -2.0k |
| Ovata Capital Management Ltd 0.88% of their portfolio | 500.0k $7.2m | Added +472.6k |
| FEDERATED HERMES, INC. 0.01% of their portfolio | 489.1k $7.1m | Reduced -287.9k |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 467.1k $6.7m | Reduced -1.9m |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio | 455.3k $6.5m | Added +117.5k |
| Robeco Institutional Asset Management B.V. 0.01% of their portfolio | 442.8k $6.4m | Added +388.5k |
| Pictet Asset Management Holding SA 0.01% of their portfolio | 437.4k $6.3m | Added +15.9k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 426.6k $6.2m | Added +180.6k |
| MOORE CAPITAL MANAGEMENT, LP 0.13% of their portfolio | 426.0k $6.1m | Added +106.0k |
| Hartree Partners, LP 2.11% of their portfolio | 400.0k $5.8m | Reduced -336.4k |
| Quantbot Technologies LP 0.19% of their portfolio | 391.3k $5.6m | Reduced -227.4k |
| Amundi 0.00% of their portfolio | 390.1k $5.6m | Reduced -54.7k |
| Journey Advisory Group, LLC 0.47% of their portfolio | 388.6k $5.6m | Reduced -316 |
| Bank of New York Mellon Corp 0.00% of their portfolio | 363.9k $5.2m | Added +12.4k |
| SG Americas Securities, LLC 0.01% of their portfolio | 348.4k $5.0m | Added +31.3k |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 341.2k $4.9m | Added +575 |
| NewEdge Wealth, LLC 0.06% of their portfolio | 340.8k $4.9m | Added +10.6k |
| tru Independence LLC 1.23% of their portfolio | 339.1k $4.9m | New |
| Public Sector Pension Investment Board 0.02% of their portfolio | 325.4k $4.7m | Added +30.2k |
| Aberdeen Group plc 0.01% of their portfolio | 318.3k $4.6m | Added +627 |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 277.9k $4.0m | Added +1.3k |
| MIRABELLA FINANCIAL SERVICES LLP 0.38% of their portfolio | 270.8k $3.9m | Added +24.6k |
| LEVIN CAPITAL STRATEGIES, L.P. 0.30% of their portfolio | 240.1k $3.5m | Reduced -46.0k |
| Itau Unibanco Holding S.A. 0.08% of their portfolio | 220.6k $3.2m | New |
| Invesco Ltd. 0.00% of their portfolio | 212.8k $3.1m | Reduced -6.2k |
| SPX Gestao de Recursos Ltda 0.31% of their portfolio | 208.1k $3.0m | Added +168.8k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 206.0k $3.0m | Added +131.6k |
| Atom Investors LP 0.23% of their portfolio | 198.4k $2.9m | New |
| Mitsubishi UFJ Trust & Banking Corp 0.01% of their portfolio | 197.7k $2.9m | Reduced -169.2k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.00% of their portfolio | 184.1k $2.7m | Added +84.7k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 176.9k $2.6m | Added +94.8k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 176.4k $2.5m | Added +49.9k |
| Steadtrust LLC 1.54% of their portfolio | 173.6k $2.5m | Added +800 |
| SANDERS MORRIS HARRIS LLC 3.90% of their portfolio | 173.2k $2.5m | Reduced -21.6k |
| LONGFELLOW INVESTMENT MANAGEMENT CO LLC 0.52% of their portfolio | 161.1k $2.3m | Reduced -24.7k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 160.9k $2.3m | Reduced -1.9m |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.01% of their portfolio | 157.4k $2.3m | Added +15.0k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 155.7k $2.2m | New |
| Korea Investment CORP 0.00% of their portfolio | 155.1k $2.2m | Added +16.7k |
| Walnut Level Capital LLC 1.75% of their portfolio | 152.0k $2.2m | New |
| Trexquant Investment LP 0.02% of their portfolio | 150.5k $2.2m | New |
| Graham Capital Management, L.P. 0.07% of their portfolio | 150.0k $2.2m | Added +117.7k |
| Absolute Gestao de Investimentos Ltda. 0.23% of their portfolio | 150.0k $2.2m | New |
| STIFEL FINANCIAL CORP 0.00% of their portfolio | 149.7k $2.2m | Added +38.2k |
| Capital Research Global Investors 0.00% of their portfolio | 148.6k $2.2m | Added +3.2k |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.00% of their portfolio | 143.3k $2.1m | Added +51.2k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.00% of their portfolio | 135.4k $2.0m | New |
| Alpine Global Management, LLC 0.40% of their portfolio | 125.0k $1.8m | Added +40.0k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 115.3k $1.7m | Added +38.4k |
| National Pension Service 0.00% of their portfolio | 113.8k $1.6m | New |
| SEI INVESTMENTS CO 0.00% of their portfolio | 112.2k $1.6m | Added +40.8k |