JBS in the 13F filings

JBS N.v. · CUSIP N4732M103

Quarter

Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025

Quarter end: 31 Dec 2025; the date the book describes
Filed: 19 Feb 2026; latest of these filings; the earliest 22 Jan 2026
Managers listing it: 28; at least, of 95 tracked, among listed positions
Comparable managers: 92; filed both Q3 2025 and Q4 2025; 13 listed it in both
Shares listed: 30,182,215; combined, among listed positions
Reported value: $435m; combined, at the quarter end

Among the 92 comparable managers: 12 buyers (opened or added shares) and 19 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was -11,587,804.

Managers listing JBS in Q4 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q3 2025, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

ActionShare of book at least

28 of 28 holders

				Action		Filing
D. E. Shaw & Co.	7,205,628	$104m	0.06%	Trimmed	-2,522,063	17 Feb 2026 (the filing on sec.gov)
Woodline Partners LP	4,556,488	$66m	0.25%	Added	+2,301,149	17 Feb 2026 (the filing on sec.gov)
Arrowstreet Capital LP	3,540,471	$51m	under 0.1%	Trimmed	-413,796	13 Feb 2026 (the filing on sec.gov)
Discovery Capital Management LLC	2,942,400	$42m	2.30%	Added	+2,462,200	17 Feb 2026 (the filing on sec.gov)
Millennium Management LLC	2,217,350	$32m	under 0.1%	Trimmed	-3,771,347	17 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC	2,139,884	$31m	under 0.1%	Added	+1,138,243	17 Feb 2026 (the filing on sec.gov)
Marshall Wace LLP	2,046,950	$30m	under 0.1%	Trimmed	-1,042,983	13 Feb 2026 (the filing on sec.gov)
Point72 Asset Management LP	1,103,696	$16m	under 0.1%	Trimmed	-447,604	17 Feb 2026 (the filing on sec.gov)
Balyasny Asset Management LLC	974,545	$14m	under 0.1%	New	new	17 Feb 2026 (the filing on sec.gov)
Winton Group Ltd	857,090	$12m	0.43%	New	new	11 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP	467,099	$6.7m	under 0.1%	Trimmed	-1,856,237	17 Feb 2026 (the filing on sec.gov)
Moore Capital Management LP	425,989	$6.1m	0.09%	Added	+105,989	17 Feb 2026 (the filing on sec.gov)
Quantbot Technologies LP	391,287	$5.6m	0.19%	Trimmed	-227,363	10 Feb 2026 (the filing on sec.gov)
Invesco Ltd	212,805	$3.1m	under 0.1%	Trimmed	-6,150	19 Feb 2026 (the filing on sec.gov)
MFS Investment Management	184,118	$2.7m	under 0.1%	Added	+84,658	22 Jan 2026 (the filing on sec.gov)
AQR Capital Management LLC	160,934	$2.3m	under 0.1%	Trimmed	-1,885,041	17 Feb 2026 (the filing on sec.gov)
Capital Research Global Investors	148,566	$2.2m	under 0.1%	Added	+3,214	11 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP	111,913	$1.6m	under 0.1%	Added	+85,565	17 Feb 2026 (the filing on sec.gov)
ExodusPoint Capital Management LP	86,992	$1.3m	under 0.1%	Trimmed	-16,673	17 Feb 2026 (the filing on sec.gov)
Two Sigma Advisers LP	83,500	$1.2m	under 0.1%	Trimmed	-1,915,700	17 Feb 2026 (the filing on sec.gov)
Schonfeld Strategic Advisors LLC	64,441	$929k	under 0.1%	Trimmed	-313,633	17 Feb 2026 (the filing on sec.gov)
Acadian Asset Management LLC	59,356	$855k	under 0.1%	Trimmed	-2,088	10 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)	54,377	$784k	under 0.1%	Added	+13,418	17 Feb 2026 (the filing on sec.gov)
Man Group PLC	51,225	$739k	under 0.1%	Trimmed	-131,763	17 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP	38,131	$550k	under 0.1%	Added	+3,352	17 Feb 2026 (the filing on sec.gov)

Page 1 of 2

Largest increases and reductions, by shares

Q3 2025 to Q4 2025, among managers that listed it in both quarters or opened it.

Increases

Discovery Capital Management LLCexisting position · 2,942,400 shares now+2,462,200
Woodline Partners LPexisting position · 4,556,488 shares now+2,301,149
Citadel Advisors LLCexisting position · 2,139,884 shares now+1,138,243
Balyasny Asset Management LLCnew position · 974,545 shares now+974,545
Winton Group Ltdnew position · 857,090 shares now+857,090

Reductions

Millennium Management LLCexisting position · 2,217,350 shares now-3,771,347
D. E. Shaw & Co.existing position · 7,205,628 shares now-2,522,063
Two Sigma Advisers LPexisting position · 83,500 shares now-1,915,700
AQR Capital Management LLCexisting position · 160,934 shares now-1,885,041
Two Sigma Investments LPexisting position · 467,099 shares now-1,856,237

New positions and exits

At least these many: a manager is shown exiting only where its own filing shows the position gone.

New (2)

Balyasny Asset Management LLC$14m
Winton Group Ltd$12m

Exited (4)

Ownership over time

Every quarter on file. A quarter-end value moves with the price as well as with the shares held; buyers and sellers count comparable managers, by shares.

7 in Q2 2025 to 7 in Q2 2026

Tracked managers listing it, at least.

the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.

Compare with…

Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.

JBS and PM →JBS and KO →JBS and COST →Choose a stock to compare with JBS →

How much of the picture this is

A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.

Which funds own JBS, latest filings →Back to the 13F Explorer →

Provided for information purposes only, not financial advice. The holdings shown here and anything drawn from them are illustrative, produced from assumptions you control, and must not be relied on for any investment, financial or business decision. Read the full notice

Not advice, and not a recommendation. Everything L3VLUP publishes is provided for information purposes only. Nothing here is financial, investment, legal, tax or accounting advice, a personal recommendation, or an offer or solicitation to buy or sell any security or financial instrument. It takes no account of anyone’s objectives, financial situation or needs.

Not a regulated adviser. L3VLUP does not provide regulated financial services. Speak to a suitably qualified and regulated professional before acting on anything you read here.

Illustrative figures. Default values are plausible starting points chosen so a model has somewhere to begin. They are not data, not a view on any company, and not calibrated to anything. Outputs move with whatever you type in.

Third-party data. Where live figures appear they come from third parties, including public filings and market feeds. They may be delayed, incomplete, restated, mis-tagged at source or simply wrong, and their providers do not endorse or verify this page. Every figure links to where it came from. Check it there before relying on it. Past performance is not a guide to future performance.

Company names and logos. Names, tickers and logos are the trademarks of their owners and appear only to identify the company whose public figures are being used. L3VLUP is not affiliated with, sponsored by or endorsed by any company shown, none of them took part in preparing the exercise, and nothing here is a statement by or about any of them. See third-party names and marks.

No warranty, and limited liability. This page is provided “as is” without warranty of any kind. To the fullest extent permitted by law, L3VLUP accepts no liability for any loss or damage arising from use of, or reliance on, anything on it. Nothing in this notice limits any liability that cannot lawfully be limited.

Full terms: Information Purposes and No Advice · Terms

Quarter	Holders	Reported value	Buyers	Sellers
Q2 2025	7	$57m	7	0
Q3 2025	14	$500m	11	2
Q4 2025	9	$290m	12	19
Q1 2026	14	$496m	21	11
Q2 2026	7	$277m	13	20