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Petrobras Class A
PBR.A

216 hedge funds and large institutions have $4.39B invested in Petrobras Class A in 2026 Q1 according to their latest regulatory filings, with 40 funds opening new positions, 74 increasing their positions, 75 reducing their positions, and 22 closing their positions.

New
Increased
Maintained
Reduced
Closed

254% more call options, than puts

Call options by funds: $392M | Put options by funds: $111M

101% more capital invested

Capital invested by funds: $2.18B → $4.39B (+$2.21B)

82% more first-time investments, than exits

New positions opened: 40 | Existing positions closed: 22

50% more funds holding in top 10

Funds holding in top 10: 8 → 12 (+4)

8% more funds holding

Funds holding: 200 → 216 (+16)

1.47% more ownership

Funds ownership: 7.1% → 8.57% (+1.5%)

1% less repeat investments, than reductions

Existing positions increased: 74 | Existing positions reduced: 75

Holders
216
Holders Change
+16
Holders Change %
+8%
% of All Funds
2.66%
Holding in Top 10
12
Holding in Top 10 Change
+4
Holding in Top 10 Change %
+50%
% of All Funds
0.15%
New
40
Increased
74
Reduced
75
Closed
22
Calls
$392M
Puts
$111M
Net Calls
+$281M
Net Calls Change
+$271M

Top Buyers

1
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
+$287M
2
SGDR
SPX Gestao de Recursos
Brazil
+$84.5M
3
JP Morgan Chase
JP Morgan Chase
New York
+$84M
4
BlackRock
BlackRock
New York
+$56M
5
Robeco Institutional Asset Management
Robeco Institutional Asset Management
Netherlands
+$55.9M

Top Sellers

1
Massachusetts Financial Services
Massachusetts Financial Services
Massachusetts
-$76.6M
2
IUHSA
Itau Unibanco Holding S.A.
Brazil
-$45.7M
3
RFM
Ranmore Fund Management
United Kingdom
-$44.9M
4
SC
Sagil Capital
United Kingdom
-$20.3M
5
BIP
Brandes Investment Partners
California
-$18.6M
Name Holding Trade Value Shares
Change 		Change in
Stake
JP Morgan Chase
1
JP Morgan Chase
New York
$685M +$84M +5,669,323 +19%
Robeco Institutional Asset Management
2
Robeco Institutional Asset Management
Netherlands
$582M +$55.9M +3,772,593 +14%
BlackRock
3
BlackRock
New York
$393M +$56M +3,782,102 +22%
Arrowstreet Capital
4
Arrowstreet Capital
Massachusetts
$363M +$287M +19,367,732 New
Massachusetts Financial Services
5
Massachusetts Financial Services
Massachusetts
$179M -$76.6M -5,166,414 -36%
Amundi
6
Amundi
France
$153M +$21.7M +1,461,773 +22%
Dimensional Fund Advisors
7
Dimensional Fund Advisors
Texas
$143M +$8.12M +547,612 +8%
SGDR
8
SPX Gestao de Recursos
Brazil
$129M +$84.5M +5,701,654 +486%
IUHSA
9
Itau Unibanco Holding S.A.
Brazil
$115M -$45.7M -3,083,322 -33%
American Century Companies
10
American Century Companies
Missouri
$98.7M +$14.2M +960,156 +22%
NAMI
11
Nomura Asset Management International
Pennsylvania
$97.2M -$14.8M -1,000,000 -16%
Fidelity Investments
12
Fidelity Investments
Massachusetts
$93.1M +$299K +20,158 +0.4%
State Street
13
State Street
Massachusetts
$92.9M -$736K -49,666 -1%
Invesco
14
Invesco
Georgia
$87.1M +$16.1M +1,084,647 +30%
Renaissance Technologies
15
Renaissance Technologies
New York
$86.4M +$1.81M +122,100 +3%
BIP
16
Brandes Investment Partners
California
$79.4M -$18.6M -1,256,846 -23%
PC
17
Packer & Co
Australia
$74M – – –
Baillie Gifford & Co
18
Baillie Gifford & Co
United Kingdom
$70.2M -$329K -22,189 -0.6%
AGDI
19
Absolute Gestao de Investimentos
Brazil
$58.6M +$46.4M +3,127,700 New
VCM
20
Vanguard Capital Management
Pennsylvania
$44M +$34.8M +2,346,095 New
Schroder Investment Management Group
21
Schroder Investment Management Group
United Kingdom
$38.6M +$3.17M +214,120 +12%
Marshall Wace
22
Marshall Wace
United Kingdom
$36.6M +$27.9M +1,879,617 +2,667%
Northern Trust
23
Northern Trust
Illinois
$36.4M -$2.04M -137,354 -7%
State of New Jersey Common Pension Fund D
24
State of New Jersey Common Pension Fund D
New Jersey
$35.3M +$13M +876,173 +87%
Goldman Sachs
25
Goldman Sachs
New York
$34.4M +$16.4M +1,107,799 +153%
1
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PBR.A Hedge Fund Activity: Q1 2026 in Review

216 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in Petrobras Class A (PBR.A) for Q1 2026, worth a combined $4.39B — up 101% from $2.18B a quarter earlier.

Buyers outnumbered sellers: 40 funds opened new PBR.A positions and 22 closed out — a net gain of 18 holders — while 74 added to existing stakes and 75 trimmed.

The largest buyer was Arrowstreet Capital, opening a new position worth an estimated $287M. The largest seller was Massachusetts Financial Services, cutting an estimated $76.6M.

  • 216 institutional investors held Petrobras Class A (PBR.A) as of Q1 2026, up from 200 in Q4 2025.
  • Funds reported $4.39B of Petrobras Class A stock for Q1 2026, up 101% quarter-over-quarter.
  • 40 funds opened new Petrobras Class A positions in Q1 2026 and 22 closed out, a net change of +18 holders.
  • The largest Petrobras Class A buyer in Q1 2026 was Arrowstreet Capital, an estimated $287M added.
  • The largest Petrobras Class A seller in Q1 2026 was Massachusetts Financial Services, an estimated $76.6M sold.

Based on aggregated 13F filings for Q1 2026.