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Petrobras Class A
PBR.A

200 hedge funds and large institutions have $2.18B invested in Petrobras Class A in 2025 Q4 according to their latest regulatory filings, with 41 funds opening new positions, 69 increasing their positions, 56 reducing their positions, and 21 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more funds holding in top 10

Funds holding in top 10: 4 → 8 (+4)

95% more first-time investments, than exits

New positions opened: 41 | Existing positions closed: 21

32% more call options, than puts

Call options by funds: $43M | Put options by funds: $32.6M

23% more repeat investments, than reductions

Existing positions increased: 69 | Existing positions reduced: 56

10% more funds holding

Funds holding: 182 → 200 (+18)

8% more capital invested

Capital invested by funds: $2.01B → $2.18B (+$167M)

0.85% more ownership

Funds ownership: 6.25% → 7.1% (+0.85%)

Holders
200
Holders Change
+18
Holders Change %
+9.89%
% of All Funds
2.43%
Holding in Top 10
8
Holding in Top 10 Change
+4
Holding in Top 10 Change %
+100%
% of All Funds
0.1%
New
41
Increased
69
Reduced
56
Closed
21
Calls
$43M
Puts
$32.6M
Net Calls
+$10.4M
Net Calls Change
-$154M

Top Buyers

1
JP Morgan Chase
JP Morgan Chase
New York
+$95.5M
2
BlackRock
BlackRock
New York
+$46.8M
3
PC
Packer & Co
Australia
+$45.6M
4
Robeco Institutional Asset Management
Robeco Institutional Asset Management
Netherlands
+$36.3M
5
IUHSA
Itau Unibanco Holding S.A.
Brazil
+$32.5M

Top Sellers

1
Macquarie Group
Macquarie Group
Australia
-$73.1M
2
State of Wisconsin Investment Board
State of Wisconsin Investment Board
Wisconsin
-$17.9M
3
Fidelity Investments
Fidelity Investments
Massachusetts
-$16.4M
4
Qube Research & Technologies (QRT)
Qube Research & Technologies (QRT)
United Kingdom
-$14.8M
5
D.E. Shaw & Co
D.E. Shaw & Co
New York
-$10.5M
Name Holding Trade Value Shares
Change 		Change in
Stake
JP Morgan Chase
1
JP Morgan Chase
New York
$345M +$95.5M +8,271,603 +37%
Robeco Institutional Asset Management
2
Robeco Institutional Asset Management
Netherlands
$307M +$36.3M +3,147,828 +13%
BlackRock
3
BlackRock
New York
$193M +$46.8M +4,054,812 +31%
Massachusetts Financial Services
4
Massachusetts Financial Services
Massachusetts
$163M -$951K -82,386 -0.6%
IUHSA
5
Itau Unibanco Holding S.A.
Brazil
$103M +$32.5M +2,818,928 +44%
Dimensional Fund Advisors
6
Dimensional Fund Advisors
Texas
$79.9M +$4.76M +412,723 +6%
Amundi
7
Amundi
France
$75.5M +$1.38M +119,238 +2%
NAMI
8
Nomura Asset Management International
Pennsylvania
$69.7M +$71.4M +6,185,509 New
BIP
9
Brandes Investment Partners
California
$61.9M +$2.7M +233,835 +4%
State Street
10
State Street
Massachusetts
$57M -$6.44M -558,087 -10%
Fidelity Investments
11
Fidelity Investments
Massachusetts
$55.7M -$16.4M -1,421,644 -22%
Renaissance Technologies
12
Renaissance Technologies
New York
$50.6M -$6.85M -593,400 -12%
American Century Companies
13
American Century Companies
Missouri
$48.5M +$5.87M +508,356 +13%
RFM
14
Ranmore Fund Management
United Kingdom
$44.9M +$13.6M +1,180,000 +42%
PC
15
Packer & Co
Australia
$44.5M +$45.6M +3,948,602 New
Baillie Gifford & Co
16
Baillie Gifford & Co
United Kingdom
$42.5M -$58.3K -5,047 -0.1%
Invesco
17
Invesco
Georgia
$40.1M +$11.7M +1,013,749 +40%
Vanguard Group
18
Vanguard Group
Pennsylvania
$29.5M +$83K +7,191 +0.3%
Northern Trust
19
Northern Trust
Illinois
$23.4M +$3.53M +305,883 +17%
Schroder Investment Management Group
20
Schroder Investment Management Group
United Kingdom
$20.6M +$11.5M +994,352 +120%
SC
21
Sagil Capital
United Kingdom
$20.3M – – –
Morgan Stanley
22
Morgan Stanley
New York
$18M +$4.23M +366,471 +30%
T. Rowe Price Associates
23
T. Rowe Price Associates
Maryland
$15M – – –
HSBC Holdings
24
HSBC Holdings
United Kingdom
$14.7M +$1.58M +136,499 +12%
SGDR
25
SPX Gestao de Recursos
Brazil
$13.2M -$6.57M -569,178 -33%
1
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PBR.A Hedge Fund Activity: Q4 2025 in Review

200 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Petrobras Class A (PBR.A) for Q4 2025, worth a combined $2.18B — up 8.3% from $2.01B a quarter earlier.

Buyers outnumbered sellers: 41 funds opened new PBR.A positions and 21 closed out — a net gain of 20 holders — while 69 added to existing stakes and 56 trimmed.

The largest buyer was JP Morgan Chase, adding an estimated $95.5M. The largest seller was Macquarie Group, exiting entirely with an estimated $73.1M sold.

  • 200 institutional investors held Petrobras Class A (PBR.A) as of Q4 2025, up from 182 in Q3 2025.
  • Funds reported $2.18B of Petrobras Class A stock for Q4 2025, up 8.3% quarter-over-quarter.
  • 41 funds opened new Petrobras Class A positions in Q4 2025 and 21 closed out, a net change of +20 holders.
  • The largest Petrobras Class A buyer in Q4 2025 was JP Morgan Chase, an estimated $95.5M added.
  • The largest Petrobras Class A seller in Q4 2025 was Macquarie Group, an estimated $73.1M sold.

Based on aggregated 13F filings for Q4 2025.