Which funds own PBR
Petroleo Brasileiro S A in the Q2 2026 filings. At least 7 of the 91 current managers on file reported a position, worth $2.0bn between them. It is among the largest positions of fewer than a fifth of the current managers on file. The quarter went one way: 7 managers opened or added against 2 cutting.
- Managers holding
- 7
- at least, of 91 current
- Combined value
- $2.0bn
- as reported
- Opened
- 0
- new this quarter
- Added to
- 7
- already held
- Trimmed or sold out
- 2
- 2 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 |
|---|---|---|---|---|---|
| Baillie Gifford & Co Long-only · $110bn book | $786m | 0.7% | 48,618,354 | -$136m+4,179,806 | Added |
| Arrowstreet Capital LP Quantitative · $225bn book | $650m | 0.3% | 40,190,550 | +$57m+11,637,094 | Added |
| Acadian Asset Management LLC Quantitative · $84.2bn book | $223m | 0.3% | 13,781,657 | +$68m+6,311,657 | Added |
| Renaissance Technologies LLC Quantitative · $72.6bn book | $142m | 0.2% | 8,780,800 | -$17m+1,117,600 | Added |
| Bridgewater Associates LP Macro · $24.4bn book | $105m | 0.4% | 6,524,553 | +$82m+5,373,569 | Added |
| Schonfeld Strategic Advisors LLC Multi-strategy · $27.9bn book | $70m | 0.3% | 4,347,160 | +$70m+4,335,384 | Added |
| Voloridge Investment Management LLC Quantitative · $23.5bn book | $68m | 0.3% | 4,200,803 | +$53m+3,495,452 | Added |
Sold out of this quarter
Valued at what the position was worth in the previous filing, because by this one it is gone.
- Oaktree Capital Management LP · Activist$126m held before
- MFS Investment Management · Long-only$64m held before
Ownership through time
At least 14 of the 95 managers whose filings are on file listed PBR in Q2 2026, against 13 in Q2 2013. The same number as in Q1 2026: 1 started a position; 2 listed it again; 2 sold out, by their own filings; 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.
- Q2 2013: 13
- Q3 2013: 12
- Q4 2013: 14
- Q1 2014: 12
- Q2 2014: 11
- Q3 2014: 15
- Q4 2014: 10
- Q1 2015: 9
- Q2 2015: 9
- Q3 2015: 3
- Q4 2015: 3
- Q1 2016: 5
- Q2 2016: 8
- Q3 2016: 11
- Q4 2016: 9
- Q1 2017: 13
- Q2 2017: 14
- Q3 2017: 14
- Q4 2017: 15
- Q1 2018: 16
- Q2 2018: 11
- Q3 2018: 15
- Q4 2018: 15
- Q1 2019: 16
- Q2 2019: 14
- Q3 2019: 13
- Q4 2019: 16
- Q1 2020: 15
- Q2 2020: 13
- Q3 2020: 11
- Q4 2020: 14
- Q1 2021: 15
- Q2 2021: 14
- Q3 2021: 11
- Q4 2021: 14
- Q1 2022: 11
- Q2 2022: 12
- Q3 2022: 16
- Q4 2022: 15
- Q1 2023: 17
- Q2 2023: 14
- Q3 2023: 16
- Q4 2023: 15
- Q1 2024: 10
- Q2 2024: 12
- Q3 2024: 9
- Q4 2024: 7
- Q1 2025: 10
- Q2 2025: 7
- Q3 2025: 7
- Q4 2025: 9
- Q1 2026: 14
- Q2 2026: 14
- Q2 2013: $1.3bn
- Q3 2013: $1.6bn
- Q4 2013: $1.3bn
- Q1 2014: $1.3bn
- Q2 2014: $1.2bn
- Q3 2014: $1.0bn
- Q4 2014: $439m
- Q1 2015: $304m
- Q2 2015: $1.7bn
- Q3 2015: $768m
- Q4 2015: $717m
- Q1 2016: $522m
- Q2 2016: $959m
- Q3 2016: $1.2bn
- Q4 2016: $1.4bn
- Q1 2017: $1.2bn
- Q2 2017: $937m
- Q3 2017: $1.3bn
- Q4 2017: $1.5bn
- Q1 2018: $3.1bn
- Q2 2018: $2.0bn
- Q3 2018: $2.3bn
- Q4 2018: $2.3bn
- Q1 2019: $3.2bn
- Q2 2019: $3.2bn
- Q3 2019: $2.9bn
- Q4 2019: $3.2bn
- Q1 2020: $1.2bn
- Q2 2020: $2.0bn
- Q3 2020: $1.7bn
- Q4 2020: $3.2bn
- Q1 2021: $1.5bn
- Q2 2021: $2.6bn
- Q3 2021: $1.9bn
- Q4 2021: $2.2bn
- Q1 2022: $3.3bn
- Q2 2022: $2.3bn
- Q3 2022: $3.0bn
- Q4 2022: $2.3bn
- Q1 2023: $2.0bn
- Q2 2023: $2.5bn
- Q3 2023: $2.5bn
- Q4 2023: $2.6bn
- Q1 2024: $1.5bn
- Q2 2024: $1.7bn
- Q3 2024: $1.4bn
- Q4 2024: $1.4bn
- Q1 2025: $1.9bn
- Q2 2025: $927m
- Q3 2025: $859m
- Q4 2025: $1.1bn
- Q1 2026: $3.4bn
- Q2 2026: $3.4bn
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
Largest increases, by shares
- Capital World Investors14,102,155 to 29,419,512 shares+$248m
- Arrowstreet Capital LP28,553,456 to 40,190,550 shares+$188m
- Acadian Asset Management LLC7,470,000 to 13,781,657 shares+$102m
- Bridgewater Associates LP1,150,984 to 6,524,553 shares+$87m
- Baillie Gifford & Co44,438,548 to 48,618,354 shares+$68m
Largest decreases, by shares
- Invesco Ltd29,045,504 to 27,481,902 shares-$25m
- Dodge & Cox31,200 to 30,000 shares-$19k
Left it
- Oaktree Capital Management LPwas $126m
- MFS Investment Managementwas $64m
Reported as options rather than shares
A put or a call on a name is not a position in it, and the filing states the notional rather than what the option cost. These lines are listed apart for that reason and are not counted in anything above.
- Schonfeld Strategic Advisors LLC · puts$93m notional
What PBR 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 PBR →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.
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The holdings, every quarter, and the week between
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