Petroleo Brasileiro S.A.

PBR • NYSE

Petroleo Brasileiro S.A. is a publicly traded company on NYSE, led by Magda Maria de Regina Chambriard. As of Q3 2025, 424 institutional investors hold shares in this company, with total holdings valued at $7.9B. GQG Partners LLC is the largest holder with a position valued at $2.7B.

CEOMagda Maria de Regina Chambriard

Employees40.2K

Websitepetrobras.com.br

Overview

Overview of institutional ownership in PBR as of Q3 2025

All Institutions

Institutions: 424
Value Held: $7.9B
Shares Held: 622.0M
Avg Position: $18.6M
Median Position: $486.8K

Hedge Funds

Hedge Funds: 35
Value Held: $302.2M
Shares Held: 23.9M
Avg Position: $8.6M
Median Position: $1.4M

Biggest Investors

Institutions with the largest positions in PBR as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
GQG Partners LLC Long Only Manager	Timothy Jacob Carver CEO	$2.7B 4.12% of portfolio	0.00% 212.0M shares	Q4 2022 Held for 3 years	$65.1B
B BAILLIE GIFFORD & CO Institution	-	$406.2M 0.30% of portfolio	0.00% 32.1M shares	Q4 2022 Held for 3 years	$134.80B
FMR LLC Institution	-	$385.4M 0.02% of portfolio	0.00% 30.4M shares	Q4 2022 Held for 3 years	$1.92T
SCHRODER INVESTMENT MANAGEMENT GROUP RIA/Wealth	Toby James Glover CEO	$356.8M 0.28% of portfolio	0.00% 28.2M shares	Q4 2022 Held for 3 years	$125.97B
LAZARD ASSET MANAGEMENT LLC Long Only Manager	Evan Lawrence Russo CEO	$273.1M 0.37% of portfolio	0.00% 21.6M shares	Q3 2025 Held for 3 months	$74.1B
C Capital International Investors Institution	-	$255.9M 0.04% of portfolio	0.00% 20.2M shares	Q4 2022 Held for 3 years	$617.62B
ARGA Investment Management, LP Long Only Manager	Jason Matthew Gilbert Managing Partner	$238.1M 6.31% of portfolio	0.00% 18.8M shares	Q4 2021 Held for 4 years	$3.8B
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$228.1M 0.04% of portfolio	0.00% 18.0M shares	Q4 2022 Held for 3 years	$633.08B
F Fisher Asset Management, LLC Institution	-	$181.0M 0.07% of portfolio	0.00% 14.3M shares	Q1 2023 Held for 2y 9m	$276.29B
BlackRock, Inc. Institution	Laurence D. Fink CEO	$141.3M 0.00% of portfolio	0.00% 11.2M shares	Q4 2022 Held for 3 years	$5.67T

Net Capital Flow

Institutional buying and selling activity for PBR in Q3 2025

Traded: +$328.6M
Buyers: 222
Sellers: 176
Total Bought: +$1.0B
Total Sold: −$714.7M
Avg Position: $16.3M

Biggest Buyers

Institution	Net Bought	Current Position
LAZARD ASSET MANAGEMENT LLC Long Only Manager	+$273.1M +2.4M shares	$273.1M 21.6M shares
ARGA Investment Management, LP Long Only Manager	+$98.4M +7.8M shares	$238.1M 18.8M shares
Invesco Ltd. ETF Provider	+$88.4M +7.0M shares	$228.1M 18.0M shares
BANK OF AMERICA CORP /DE/ Institution	+$41.9M +3.3M shares	$107.8M 8.5M shares
S SPX Equities Gestao de Recursos Ltda Institution	+$37.0M +2.9M shares	$100.2M 7.9M shares
I ICICI Prudential Asset Management Co Ltd Institution	+$35.1M +2.8M shares	$35.1M 2.8M shares
N NEW YORK STATE COMMON RETIREMENT FUND Institution	+$34.2M +467.7K shares	$34.2M 2.7M shares
C Capital International Investors Institution	+$32.8M +2.6M shares	$255.9M 20.2M shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	+$30.1M +2.4M shares	$30.3M 2.4M shares
I Itau Unibanco Holding S.A. Institution	+$30.1M +2.4M shares	$101.8M 8.0M shares

Biggest Sellers

Institution	Net Sold	Current Position
GQG Partners LLC Long Only Manager	−$119.1M −9.4M shares	$2.7B 212.0M shares
B BAILLIE GIFFORD & CO Institution	−$105.2M −8.3M shares	$406.2M 32.1M shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$95.5M −7.6M shares	Sold Off 0 shares
O Optiver Holding B.V. Institution	−$41.5M −3.3M shares	$32.1M 2.5M shares
R RWC ASSET ADVISORS LLC Institution	−$40.8M −3.2M shares	$19.2M 1.5M shares
SCHRODER INVESTMENT MANAGEMENT GROUP RIA/Wealth	−$39.0M −3.1M shares	$356.8M 28.2M shares
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Long Only Manager	−$25.7M −2.0M shares	$138.9M 11.0M shares
FMR LLC Institution	−$25.0M −2.0M shares	$385.4M 30.4M shares
R Russell Investments Group, Ltd. RIA/Wealth	−$24.6M −1.9M shares	$15.6M 1.2M shares
CONTRARIAN CAPITAL MANAGEMENT, L.L.C. Hedge Fund•Distressed	−$24.1M −1.9M shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited PBR in Q3 2025

New Positions: 34
New Value: $364.5M
Exited Positions: 59
Exited Value: $147.6M

New Positions

Institution	Position Value
LAZARD ASSET MANAGEMENT LLC Long Only Manager	$273.1M 21.6M shares
I ICICI Prudential Asset Management Co Ltd Institution	$35.1M 2.8M shares
N NEW YORK STATE COMMON RETIREMENT FUND Institution	$34.2M 2.7M shares
BARCLAYS PLC Institution	$7.8M 617.6K shares
ABBINGTON INVESTMENT GROUP RIA/Wealth	$3.6M 286.5K shares
A ABC ARBITRAGE SA Institution	$2.5M 196.6K shares
F Farringdon Capital, Ltd. Institution	$2.0M 161.8K shares
Sagefield Capital LP Private Equity	$1.2M 95.5K shares
HITE Hedge Asset Management LLC Hedge Fund•Long/Short	$1.2M 95.1K shares
MML INVESTORS SERVICES, LLC RIA/Wealth	$767.6K 60.6K shares

Exited Positions

Institution	Previous Position
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$95.5M 7.6M shares
CONTRARIAN CAPITAL MANAGEMENT, L.L.C. Hedge Fund•Distressed	$24.1M 1.9M shares
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	$5.0M 403.0K shares
Kovitz Investment Group Partners, LLC RIA/Wealth	$3.8M 301.2K shares
V Vennlight Capital Management, LP Hedge Fund•Long/Short	$2.0M 162.0K shares
X XTX Topco Ltd Institution	$2.0M 159.4K shares
A Amundi Institution	$1.9M 144.8K shares
VICTORY CAPITAL MANAGEMENT INC Long Only Manager	$1.8M 147.9K shares
A AXA Institution	$1.5M 116.6K shares
WHITTIER TRUST CO RIA/Wealth	$1.1M 91.4K shares

Options Activity

Institutions with the largest Call and Put options positions in PBR as of Q3 2025

Call Positions: 22
Call Value: $305.2M
Put Positions: 23
Put Value: $298.7M

Call Positions

Institution	Position Value
UBS Group AG Institution	$119.6M 94.5K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$71.1M 56.2K contracts
GOLDMAN SACHS GROUP INC Institution	$26.2M 20.7K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$24.7M 19.5K contracts
CITIGROUP INC Institution	$10.8M 8.6K contracts
B BNP PARIBAS ARBITRAGE, SA Institution	$10.6M 83.5 contracts
D D. E. Shaw & Co., Inc. Institution	$9.7M 7.7K contracts
J JANE STREET GROUP, LLC Institution	$6.4M 5.0K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$5.4M 4.2K contracts
C Cubist Systematic Strategies, LLC Institution	$4.5M 3.5K contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$123.6M 97.6K contracts
UBS Group AG Institution	$46.0M 36.3K contracts
CITIGROUP INC Institution	$27.0M 21.3K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$17.6M 13.9K contracts
GOLDMAN SACHS GROUP INC Institution	$17.0M 13.5K contracts
J JANE STREET GROUP, LLC Institution	$13.3M 10.5K contracts
B BNP PARIBAS ARBITRAGE, SA Institution	$13.2M 104.2 contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$8.1M 6.4K contracts
H HSBC HOLDINGS PLC Institution	$6.7M 5.3K contracts
Verition Fund Management LLC Hedge Fund•Multi-Strategy	$6.3M 5.0K contracts

Most Committed Institutions

Institutions with PBR as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Breakout Capital Partners, LP Hedge Fund•Sector	Ruchir Sharma CIO	10.99% $14.8M	0.00% 1.2M shares	Q4 2023 Held for 2 years	$135.1M
S SPX Equities Gestao de Recursos Ltda Institution	-	8.41% $100.2M	0.00% 7.9M shares	Q3 2020 Held for 5y 3m	$1.2B
ARGA Investment Management, LP Long Only Manager	Jason Matthew Gilbert Managing Partner	6.31% $238.1M	0.00% 18.8M shares	Q4 2021 Held for 4 years	$3.8B
Moneda S.A. Administradora General de Fondos Institution	Jasleen Kaur Bains CCO	5.77% $5.2M	0.00% 448.7K shares	Q4 2022 Held for 3 years	$90.6M
GQG Partners LLC Long Only Manager	Timothy Jacob Carver CEO	4.12% $2.7B	0.00% 212.0M shares	Q4 2022 Held for 3 years	$65.1B
I ICICI Prudential Asset Management Co Ltd Institution	Nimesh Shah CEO	3.71% $35.1M	0.00% 2.8M shares	Q3 2025 Held for 3 months	$947.2M
I Itau Unibanco Holding S.A. Institution	-	3.47% $101.8M	0.00% 8.0M shares	Q2 2025 Held for 6 months	$2.9B
R RWC ASSET ADVISORS LLC Institution	-	3.15% $19.2M	0.00% 1.5M shares	Q2 2023 Held for 2y 6m	$610.9M
ABBINGTON INVESTMENT GROUP RIA/Wealth	Grace Yuan Mei Toh Founder	3.11% $3.6M	0.00% 286.5K shares	Q3 2025 Held for 3 months	$116.8M
Beck Bode, LLC RIA/Wealth	James Bode Managing Partner	2.54% $15.7M	0.00% 1.2M shares	Q3 2025 Held for 3 months	$618.9M

Hedge Fund Spotlight

Discover hedge funds investing in PBR

AIGEN INVESTMENT MANAGEMENT, LP

Hedge Fund • Long/Short

Portfolio ManagerJuhua Zhu

Portfolio Value: $646.1M
Positions: 764
Last Reported: Q3 2025

Sector Allocation

Position in Petroleo Brasileiro S.A.

Market Value: $1.2M
Shares Held: 97.0K
Portfolio Weight: 0.19%
Owned Since: 2025-Q1

Top Holding	Sector	Market Value	Weight
1 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$7.1M	1.10%
2 Honeywell International HON	Conglomerates Industrials	$7.1M	1.10%
3 Boston Scientific BSX	Medical - Devices Healthcare	$6.7M	1.04%