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Which funds own ABEV

Ambev SA in the Q2 2026 filings. At least 2 of the 91 current managers on file reported a position, worth $1.1bn between them. It is among the largest positions of fewer than a fifth of the current managers on file. Buying and selling roughly cancelled this quarter, which is what a name looks like when the argument is still live.

Managers holding: 2; at least, of 91 current
Combined value: $1.1bn; as reported
Opened: 0; new this quarter
Added to: 1; already held
Trimmed or sold out: 1; 0 sold out entirely

Only each manager’s largest 200 positions are listed here, so a smaller holder may be missing.

Managers reporting a position

Largest first. Weight is the share of that manager’s whole reported book, which is the number worth quoting: $400m is a rounding error in one book and a defining bet in another.

Manager	Value	Weight	Shares	Change on the quarter	Action
First Eagle Investment Management LLC Activist · $60.8bn book	$1.1bn	1.8%	349,323,217	+$84m+2,338,660	Added
Dodge & Cox Activist · $191bn book	$800k	0.0%	252,700	-$100k-53,600	Trimmed

Ownership through time

At least 3 of the 95 managers whose filings are on file listed ABEV in Q2 2026, against 9 in Q4 2013. 1 manager fewer than in Q1 2026: 1 no longer listed it among the positions read, which can mean a holding below the listed range or a filing not yet made.

Each manager’s largest 500 positions a quarter are read, so a small holding in a very large book can be missing, and a manager is counted as leaving only where its own filing shows it.

Managers on file listing it

Their combined reported value

Between the quarter ends of Q1 2026 and Q2 2026. Each change in shares is valued at the Q2 2026 price, so the price’s own move is left out; a 13F shows the two quarter ends, not when in between anything was bought or sold.

Started in Q2 2026

No manager on file started a position.

Largest increases, by shares

First Eagle Investment Management LLC346,984,557 to 349,323,217 shares+$7.3m

Largest decreases, by shares

Renaissance Technologies LLC27,354,300 to 24,910,000 shares-$7.7m
Dodge & Cox306,300 to 252,700 shares-$168k

Left it

No manager on file is shown leaving it.

Manager	First listed	Largest	Q2 2026
First Eagle Investment Management LLC	Q4 2013	$1.1bn	$1.1bn
Renaissance Technologies LLC	Q2 2015	$193m	$78m
Dodge & Cox	Q4 2024	$894k	$793k
MFS Investment Management	Q4 2013	$523m	last listed Q1 2026
Fidelity (FMR LLC)	Q2 2021	$451m	last listed Q3 2022
Invesco Ltd	Q1 2018	$348m	last listed Q4 2019
Viking Global Investors LP	Q4 2014	$267m	last listed Q1 2015
Artisan Partners LP	Q3 2014	$201m	last listed Q4 2018
Janus Henderson Group Ltd	Q4 2013	$158m	last listed Q2 2023
Arrowstreet Capital LP	Q2 2018	$130m	last listed Q2 2025
Maverick Capital Ltd	Q4 2013	$118m	last listed Q2 2018
Neuberger Berman Group LLC	Q4 2013	$81m	last listed Q2 2017
AQR Capital Management LLC	Q4 2013	$79m	last listed Q3 2016

What ABEV is worth

Knowing who owns it is half the question. The other half is what it is worth against the companies it trades beside, which is the one an interviewer will follow up with.

Build the comp set around ABEV →

How much of the picture this is

A Form 13F reports US-listed long equity and nothing else: no shorts, no bonds, no cash and no non-US listings. It arrives forty-five days after the quarter ends, so a manager who sold in July still shows the position in a filing published in August. This page reads the managers on file here rather than every filer in the market, and each manager’s largest positions rather than the whole table, so a small position in a very large book may not appear. Say “their last filing showed” rather than “they own”, and the distinction will do you credit.

What to do with a name the funds are buying

Knowing who owns something is the start of a pitch, not the pitch. The next questions are what it is worth and why they were buying.

Comps ExplorerValue it against the peers it trades beside Every managerRead any of these books in full Deal tapeWhat buyers paid for whole companies, not slices Hedge fund interviewsHow the room runs, and the stock pitch it wants

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The holdings, every quarter, and the week between

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