Carrhae Capital’s Gerdau GGB Stock Holding History

Carrhae Capital’s Portfolio GGB Stock Details GGB Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q2	–	Sell	-6,568,703	Closed	-$18.7M	–	31
2025 Q1	$18.7M	Buy	+6,568,703	New	+$19.2M	1.36%	20
2023 Q2	–	Sell	-1,662,028	Closed	-$6.83M	–	17
2023 Q1	$6.83M	Buy	+1,662,028	New	+$7.44M	2.17%	16
2022 Q3	–	Sell	-151,951	Closed	-$517K	–	19
2022 Q2	$517K	Buy	+151,951	New	+$676K	0.44%	16
2019 Q2	–	Sell	-2,840,100	Closed	-$8.75M	–	17
2019 Q1	$8.75M	Sell	2,840,100 -2,368,320	-45%	-$7.68M	3.68%	8
2018 Q4	$15.5M	Sell	5,208,420 -1,333,329	-20%	-$4.32M	4.94%	8
2018 Q3	$21.9M	Sell	6,541,749 -916,941	-12%	-$2.95M	6.63%	6
2018 Q2	$21M	Buy	7,458,690 +297,121	+4%	+$1.04M	7.39%	4
2018 Q1	$26.5M	Buy	+7,161,569	New	+$26.3M	27.14%	2

Other funds holding GGB

Fidelity Investments Boston, Massachusetts $1.9T AUM 41.92% 1-Year Est. Return

Capital International Investors Los Angeles, California $427B AUM 29.17% 1-Year Est. Return

CCM

Contrarian Capital Management Greenwich, Connecticut $357M AUM 18.27% 1-Year Est. Return

Citadel Advisors Miami, Florida $618B AUM 30.34% 1-Year Est. Return

Bank of America Charlotte, North Carolina $1.37T AUM 24.88% 1-Year Est. Return

Dimensional Fund Advisors Austin, Texas $481B AUM 30.42% 1-Year Est. Return

Renaissance Technologies New York $63.9B AUM 45.56% 1-Year Est. Return

Two Sigma Investments New York $124B AUM 33.93% 1-Year Est. Return

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

DSC

Donald Smith & Co New York $5.56B AUM 47.13% 1-Year Est. Return

Carrhae Capital's GGB Position: Q2 2025 in Review

Carrhae Capital sold out of Gerdau (GGB) in Q2 2025, closing a stake of 6,568,703 shares — an estimated $18.7M sold.

Carrhae Capital first reported a position in GGB in Q1 2018 and held it in 8 quarters. The position peaked at $26.5M in Q1 2018. 166 funds tracked by Wall St. Rank hold GGB as of Q2 2025.

Carrhae Capital reported no remaining Gerdau position as of Q2 2025 after selling out during the quarter.
Carrhae Capital sold 6,568,703 Gerdau shares in Q2 2025, an estimated $18.7M.
Carrhae Capital first reported a position in Gerdau in Q1 2018 and held it in 8 quarters.
Carrhae Capital's Gerdau position peaked at $26.5M in Q1 2018.
166 funds tracked by Wall St. Rank held Gerdau as of Q2 2025.

Based on Carrhae Capital's 13F filing for Q2 2025, filed 5 Aug 2025.