Vault-13

JBS N.V. JBS

CL A SHS · Common Stock · CUSIP N4732M103

249 institutional holders +10 vs Q4 2025
375,659,914375.7m shares reported held*
$6.7bnreported value*
45 new 101 added 66 reduced 36 sold out net bought ≈ $405.2m (+22.6m 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 ($228.5k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $17.95. Options: 11 managers hold calls ($222.2m notional), 8 hold puts ($21.6m).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0100200300Q4 23: 1Q1 24: 0Q2 24: 1Q3 24: 0Q4 24: 0Q1 25: 0Q2 25: 169Q3 25: 233Q4 25: 239Q1 26: 249249Q4 23Q2 24Q4 24Q2 25Q4 25Q1 26
Numbers
QuarterHolders
Q4 20231
Q1 20240
Q2 20241
Q3 20240
Q4 20240
Q1 20250
Q2 2025169
Q3 2025233
Q4 2025239
Q1 2026249

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 25: 171 bought or addedQ3 25: 74 cut or sold outQ3 25Q4 25: 134 bought or addedQ4 25: 109 cut or sold outQ4 25Q1 26: 146 bought or addedQ1 26: 102 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q3 202517174
Q4 2025134109
Q1 2026146102

Calls vs puts

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

CallsPuts
$0$100m$200m$300mQ2 25 calls: $93.6mQ2 25 puts: $1.1mQ2 25P/C 0.01Q3 25 calls: $263.0mQ3 25 puts: $90.3mQ3 25P/C 0.34Q4 25 calls: $195.3mQ4 25 puts: $83.9mQ4 25P/C 0.43Q1 26 calls: $222.2mQ1 26 puts: $21.6mQ1 26P/C 0.10
Numbers
QuarterCallsPutsP/C
Q2 2025$93.6m$1.1m0.01
Q3 2025$263.0m$90.3m0.34
Q4 2025$195.3m$83.9m0.43
Q1 2026$222.2m$21.6m0.10

Biggest buyers

Davis Selected Advisers Added +14,389,919+14.4m
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Added +4,147,304+4.1m
BlackRock, Inc. Added +3,284,423+3.3m
TWO SIGMA INVESTMENTS, LP Added +3,108,760+3.1m
NEUBERGER BERMAN GROUP LLC New +1,576,151+1.6m
MARSHALL WACE, LLP Added +1,556,187+1.6m
LSV ASSET MANAGEMENT Added +1,311,250+1.3m
BRANDES INVESTMENT PARTNERS, LP Added +1,303,838+1.3m
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Added +909,119+909.1k
RAYMOND JAMES FINANCIAL INC Added +813,890+813.9k

Biggest sellers

Woodline Partners LP Reduced -3,442,078-3.4m
CITADEL ADVISORS LLC Reduced -2,026,655-2.0m
MASON CAPITAL MANAGEMENT LLC Sold out -1,306,000-1.3m
Point72 Asset Management, L.P. Sold out -1,103,696-1.1m
Carrhae Capital LLP Reduced -1,102,881-1.1m
Maple Rock Capital Partners Inc. Sold out -985,106-985.1k
D. E. Shaw & Co., Inc. Reduced -815,695-815.7k
Balyasny Asset Management L.P. Reduced -814,904-814.9k
WINTON GROUP Ltd Reduced -770,435-770.4k
Praetorian PR LLC Sold out -750,000-750.0k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $85.3m4.7m shares
GROUP ONE TRADING LLC Added $58.4m3.3m shares
JANE STREET GROUP, LLC Added $42.3m2.4m shares
PEAK6 LLC Reduced $12.6m702.8k shares
SIMPLEX TRADING, LLC Reduced $9.9m552.0k shares
CITADEL ADVISORS LLC Reduced $2.7m152.7k shares
MILLENNIUM MANAGEMENT LLC Reduced $2.7m150.0k shares
GOLDMAN SACHS GROUP INC Reduced $2.6m145.0k shares
Walleye Trading LLC New $2.6m142.8k shares
TUDOR INVESTMENT CORP ET AL New $2.3m129.5k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $9.6m536.8k shares
CITADEL ADVISORS LLC Reduced $5.5m304.4k shares
GOLDMAN SACHS GROUP INC Reduced $2.1m114.5k shares
MILLENNIUM MANAGEMENT LLC Added $1.8m100.0k shares
SIMPLEX TRADING, LLC Reduced $1.5m82.9k shares
JANE STREET GROUP, LLC Reduced $607.0k33.8k shares
GROUP ONE TRADING LLC Reduced $461.6k25.7k shares
Walleye Trading LLC New $122.1k6.8k 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 Q1 2026

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 Q1 2026.

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BNDES Participacoes S.A. 100.00% of their portfolio RIO DE JANEIRO, D5 199,311,644199.3m $3.6bn $3.6bn 100.00% Unchanged
2 BlackRock, Inc. 0.01% of their portfolio New York, NY 28,826,63628.8m $517.7m $517.7m 0.01% Added +3.3m +3,284,423
3 Davis Selected Advisers 2.16% of their portfolio Tucson, AZ 26,244,66026.2m $471.4m $471.4m 2.16% Added +14.4m +14,389,919
4 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.07% of their portfolio BOSTON, MA 7,687,7757.7m $138.1m $138.1m 0.07% Added +4.1m +4,147,304
5 AMERIPRISE FINANCIAL INC 0.03% of their portfolio MINNEAPOLIS, MN 6,704,6926.7m $120.4m $120.4m 0.03% Reduced -136.1k -136,124
6 D. E. Shaw & Co., Inc. 0.09% of their portfolio New York, NY 6,389,9336.4m $114.8m $114.8m 0.09% Reduced -815.7k -815,695
7 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 6,158,2786.2m $110.6m $110.6m 0.00% Added +19.7k +19,742
8 DEUTSCHE BANK AG\ 0.03% of their portfolio FRANKFURT AM MAIN, 2M 5,277,8245.3m $94.8m $94.8m 0.03% Added +596.0k +596,031
9 Alberta Investment Management Corp 0.56% of their portfolio EDMONTON, A0 5,024,5005.0m $90.2m $90.2m 0.56% Added +402.0k +402,000
10 RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio ST. PETERSBURG, FL 3,788,9263.8m $67.8m $67.8m 0.02% Added +813.9k +813,890
11 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 3,607,7083.6m $64.8m $64.8m 0.00% Reduced -502.4k -502,414
12 MARSHALL WACE, LLP 0.07% of their portfolio LONDON, X0 3,603,1373.6m $64.7m $64.7m 0.07% Added +1.6m +1,556,187
13 TWO SIGMA INVESTMENTS, LP 0.05% of their portfolio NEW YORK, NY 3,575,8593.6m $64.2m $64.2m 0.05% Added +3.1m +3,108,760
14 DISCOVERY CAPITAL MANAGEMENT, LLC / CT 3.14% of their portfolio SOUTH NORWALK, CT 3,365,4003.4m $60.4m $60.4m 3.14% Added +423.0k +423,000
15 BNP PARIBAS FINANCIAL MARKETS 0.04% of their portfolio PARIS, I0 3,121,1103.1m $56.1m $56.1m 0.04% Added +530.0k +529,977
16 BRANDES INVESTMENT PARTNERS, LP 0.38% of their portfolio LA JOLLA, CA 2,982,6743.0m $53.6m $53.6m 0.38% Added +1.3m +1,303,838
17 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 2,782,9832.8m $50.0m $50.0m 0.00% Added +289.8k +289,771
18 VAN ECK ASSOCIATES CORP 0.04% of their portfolio NEW YORK, NY 2,738,3452.7m $49.2m $49.2m 0.04% Added +359.5k +359,540
19 Carrhae Capital LLP 3.23% of their portfolio London, X0 2,546,3452.5m $45.7m $45.7m 3.23% Reduced -1.1m -1,102,881
20 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 2,412,2382.4m $42.9m $42.9m 0.00% Reduced -82.1k -82,054
21 Qube Research & Technologies Ltd 0.05% of their portfolio LONDON, X0 1,841,2741.8m $33.1m $33.1m 0.05% Added +455.4k +455,368
22 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 1,684,9721.7m $30.3m $30.3m 0.00% Reduced -178.3k -178,296
23 CITIGROUP INC 0.02% of their portfolio NEW YORK, NY 1,679,4841.7m $30.2m $30.2m 0.02% Added +477.4k +477,380
24 Ramirez Asset Management, Inc. 3.56% of their portfolio NEW YORK, NY 1,673,9131.7m $29.6m $29.6m 3.56% Added +381.4k +381,366
25 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 1,636,0641.6m $29.4m $29.4m 0.02% Reduced -581.3k -581,286
26 NEUBERGER BERMAN GROUP LLC 0.02% of their portfolio NEW YORK, NY 1,576,1511.6m $28.3m $28.3m 0.02% New
27 Legal & General Group Plc 0.01% of their portfolio London, X0 1,480,7181.5m $26.6m $26.6m 0.01% Reduced -153.2k -153,213
28 Jump Financial, LLC 0.37% of their portfolio Chicago, IL 1,408,0591.4m $25.3m $25.3m 0.37% Reduced -246.1k -246,138
29 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,407,2651.4m $24.4m $24.4m 0.00% Added +116.4k +116,381
30 LSV ASSET MANAGEMENT 0.05% of their portfolio CHICAGO, IL 1,362,7001.4m $24.5m $24.5m 0.05% Added +1.3m +1,311,250
31 HRT FINANCIAL LP 0.09% of their portfolio NEW YORK, NY 1,340,4451.3m $24.1m $24.1m 0.09% Reduced -29.2k -29,189
32 UBS Group AG 0.00% of their portfolio ZURICH, V8 1,336,4221.3m $24.0m $24.0m 0.00% Added +695.1k +695,077
33 Loews Corp 0.20% of their portfolio New York, NY 1,330,0001.3m $23.9m $23.9m 0.20% Unchanged
34 Woodline Partners LP 0.08% of their portfolio San Francisco, CA 1,114,4101.1m $20.0m $20.0m 0.08% Reduced -3.4m -3,442,078
35 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.02% of their portfolio CAUSEWAY BAY, K3 963,709963.7k $17.3m $17.3m 0.02% Added +909.1k +909,119
36 Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio CHIYODA-KU, TOKYO, M0 873,080873.1k $15.7m $15.7m 0.01% Added +27.4k +27,398
37 Quinn Opportunity Partners LLC 0.82% of their portfolio CHARLOTTESVILLE, VA 872,901872.9k $15.7m $15.7m 0.82% Added +27.0k +27,000
38 Russell Investments Group, Ltd. 0.02% of their portfolio Seattle, WA 777,283777.3k $14.0m $14.0m 0.02% Added +44.5k +44,487
39 VANGUARD ASSET MANAGEMENT, Ltd 0.01% of their portfolio London, EC4N 8AF, X0 766,718766.7k $13.8m $13.8m 0.01% First filing
40 SG Americas Securities, LLC 0.01% of their portfolio NEW YORK, NY 746,785746.8k $13.4m $13.4m 0.01% Added +398.4k +398,435
41 Private Advisory Group LLC 0.90% of their portfolio REDMOND, WA 720,829720.8k $12.9m $12.9m 0.90% Added +9.3k +9,304
42 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 709,954710.0k $12.8m $12.8m 0.00% Reduced -23.1k -23,085
43 COHEN & STEERS, INC. 0.02% of their portfolio NEW YORK, NY 695,826695.8k $12.5m $12.5m 0.02% Added +37.5k +37,465
44 Duquesne Family Office LLC 0.40% of their portfolio New York, NY 655,900655.9k $11.8m $11.8m 0.40% New
45 California Public Employees Retirement System 0.01% of their portfolio Sacramento, CA 630,093630.1k $11.3m $11.3m 0.01% Reduced -77.9k -77,867
46 Robeco Institutional Asset Management B.V. 0.02% of their portfolio ROTTERDAM, P7 622,765622.8k $11.2m $11.2m 0.02% Added +180.0k +179,971
47 ExodusPoint Capital Management, LP 0.10% of their portfolio NEW YORK, NY 564,297564.3k $10.1m $10.1m 0.10% Added +477.3k +477,305
48 Rivermont Capital Management LP 2.08% of their portfolio NEW YORK, NY 550,000550.0k $9.9m $9.9m 2.08% New
49 Mitsubishi UFJ Asset Management Co., Ltd. 0.01% of their portfolio TOKYO, M0 543,029543.0k $9.8m $9.8m 0.01% Added +87.7k +87,729
50 Bayberry Capital Partners LP 3.21% of their portfolio NEW YORK, NY 541,600541.6k $9.7m $9.7m 3.21% Reduced -460.4k -460,400
51 FEDERATED HERMES, INC. 0.01% of their portfolio PITTSBURGH, PA 487,657487.7k $8.8m $8.8m 0.01% Reduced -1.4k -1,448
52 PRUDENTIAL FINANCIAL INC 0.01% of their portfolio NEWARK, NJ 484,100484.1k $8.7m $8.7m 0.01% Reduced -218.2k -218,200
53 Amundi 0.00% of their portfolio Paris, I0 457,685457.7k $8.2m $8.2m 0.00% Added +67.6k +67,623
54 NewEdge Wealth, LLC 0.09% of their portfolio STAMFORD, CT 403,750403.8k $7.3m $7.3m 0.09% Added +63.0k +62,974
55 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 399,343399.3k $7.2m $7.2m 0.01% Added +287.4k +287,430
56 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 393,647393.6k $7.1m $7.1m 0.00% Added +232.7k +232,713
57 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 376,701376.7k $6.8m $6.8m 0.00% Added +163.9k +163,896
58 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 374,800374.8k $6.7m $6.7m 0.00% Added +10.9k +10,912
59 Quantbot Technologies LP 0.27% of their portfolio NEW YORK, NY 372,062372.1k $6.7m $6.7m 0.27% Reduced -19.2k -19,225
60 Pictet Asset Management Holding SA 0.01% of their portfolio CAROUGE, V8 371,603371.6k $6.7m $6.7m 0.01% Reduced -65.8k -65,834
61 Engineers Gate Manager LP 0.08% of their portfolio NEW YORK, NY 369,367369.4k $6.6m $6.6m 0.08% Reduced -605.8k -605,806
62 Schonfeld Strategic Advisors LLC 0.05% of their portfolio NEW YORK, NY 368,464368.5k $6.6m $6.6m 0.05% Added +304.0k +304,023
63 Journey Advisory Group, LLC 0.57% of their portfolio COVINGTON, KY 367,865367.9k $6.6m $6.6m 0.57% Reduced -20.7k -20,700
64 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 361,039361.0k $6.5m $6.5m 0.00% Added +155.0k +155,021
65 ROYAL LONDON ASSET MANAGEMENT LTD 0.01% of their portfolio UNITED KINGDOM, X0 359,600359.6k $6.5m $6.5m 0.01% Added +216.3k +216,300
66 Cinctive Capital Management LP 0.42% of their portfolio New York, NY 353,520353.5k $6.3m $6.3m 0.42% Reduced -717.0k -716,997
67 Atom Investors LP 0.44% of their portfolio AUSTIN, TX 344,630344.6k $6.2m $6.2m 0.44% Added +146.2k +146,180
68 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 343,011343.0k $6.2m $6.2m 0.00% Added +1.8k +1,793
69 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 329,871329.9k $5.9m $5.9m 0.00% New
70 Public Sector Pension Investment Board 0.02% of their portfolio MONTREAL, A8 325,446325.4k $5.8m $5.8m 0.02% Unchanged
71 MIRABELLA FINANCIAL SERVICES LLP 0.51% of their portfolio London, X0 294,468294.5k $5.3m $5.3m 0.51% Added +23.7k +23,686
72 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 292,727292.7k $5.3m $5.3m 0.00% Added +137.0k +137,001
73 Trexquant Investment LP 0.04% of their portfolio STAMFORD, CT 291,795291.8k $5.2m $5.2m 0.04% Added +141.3k +141,313
74 NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio ALBANY, NY 288,100288.1k $5.2m $5.2m 0.01% Reduced -138.5k -138,500
75 VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio MALVERN, PA 283,633283.6k $5.1m $5.1m 0.00% First filing
76 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 280,106280.1k $5.0m $5.0m 0.00% Added +2.3k +2,254
77 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 279,664279.7k $5.0m $5.0m 0.00% Added +103.3k +103,293
78 Man Group plc 0.01% of their portfolio LONDON, X0 218,814218.8k $3.9m $3.9m 0.01% Added +167.6k +167,589
79 OCCUDO QUANTITATIVE STRATEGIES LP 0.18% of their portfolio FORT LAUDERDALE, FL 204,077204.1k $3.3m $3.3m 0.18% New
80 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.00% of their portfolio Boston, MA 196,664196.7k $3.5m $3.5m 0.00% Added +12.5k +12,546
81 Banco BTG Pactual S.A. 0.67% of their portfolio RIO DE JANEIRO, D5 191,081191.1k $3.4m $3.4m 0.67% New
82 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 189,000189.0k $3.4m $3.4m 0.00% Added +12.1k +12,066
83 Brevan Howard Capital Management LP 0.03% of their portfolio ST. HELIER, Y9 180,842180.8k $3.2m $3.2m 0.03% New
84 Steadtrust LLC 1.80% of their portfolio ALLEN, TX 176,630176.6k $3.2m $3.2m 1.80% Added +3.0k +3,000
85 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 171,490171.5k $3.1m $3.1m 0.00% Added +59.3k +59,296
86 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 168,913168.9k $3.0m $3.0m 0.00% Added +19.2k +19,198
87 LONGFELLOW INVESTMENT MANAGEMENT CO LLC 0.60% of their portfolio BOSTON, MA 161,118161.1k $2.9m $2.9m 0.60% Unchanged
88 Balyasny Asset Management L.P. 0.01% of their portfolio Chicago, IL 159,641159.6k $2.9m $2.9m 0.01% Reduced -814.9k -814,904
89 Korea Investment CORP 0.01% of their portfolio SEOUL, M5 158,262158.3k $2.8m $2.8m 0.01% Added +3.2k +3,200
90 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.02% of their portfolio VICTORIA, A1 157,400157.4k $2.8m $2.8m 0.02% Unchanged
91 BOOTHBAY FUND MANAGEMENT, LLC 0.06% of their portfolio NEW YORK, NY 151,037151.0k $2.7m $2.7m 0.06% New
92 QUATTRO FINANCIAL ADVISORS LLC 0.82% of their portfolio The Woodlands, TX 150,000150.0k $2.7m $2.7m 0.82% New
93 STRATEGY ASSET MANAGERS LLC 0.44% of their portfolio PASADENA, CA 149,181149.2k $2.7m $2.7m 0.44% New
94 Capital Research Global Investors 0.00% of their portfolio Los Angeles, CA 144,272144.3k $2.5m $2.5m 0.00% Reduced -4.3k -4,294
95 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 129,178129.2k $2.3m $2.3m 0.00% Added +39.3k +39,323
96 LEVIN CAPITAL STRATEGIES, L.P. 0.17% of their portfolio NEW YORK, NY 127,738127.7k $2.3m $2.3m 0.17% Reduced -112.4k -112,370
97 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 122,587122.6k $2.2m $2.2m 0.00% Added +55.3k +55,312
98 Mitsubishi UFJ Trust & Banking Corp 0.01% of their portfolio TOKYO, M0 122,359122.4k $2.2m $2.2m 0.01% Reduced -75.3k -75,317
99 IPG Investment Advisors LLC 0.37% of their portfolio SAN DIEGO, CA 120,800120.8k $2.2m $2.2m 0.37% Added +10.3k +10,325
100 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 115,474115.5k $2.1m $2.1m 0.00% Added +25.6k +25,570