As of 30 Sep 2025, 468 institutional investors reported holding 643,706,248 shares of PETROBRAS - PETROLEO BRASILEIRO SA - American Depositary Shares representing Common Stock (PBR). This represents 17% of the company’s total 3,718,433,135 outstanding shares.
The largest institutional shareholders of PETROBRAS - PETROLEO BRASILEIRO SA - American Depositary Shares representing Common Stock (PBR) together control 14% of the company’s outstanding shares — a level of ownership often associated with strong institutional conviction and long‑term capital commitment.
| Institution | Ownership % | Shares Held | Share Change % | Portfolio % | Holdings Value |
|---|---|---|---|---|---|
| GQG Partners LLC | 5.7% | 211,951,626 | -4.3% | 4.1% | $2,683,307,612 |
| BAILLIE GIFFORD & CO | 0.86% | 32,087,693 | -21% | 0.3% | $406,230,193 |
| FMR LLC | 0.82% | 30,442,954 | -6.1% | 0.02% | $385,407,794 |
| SCHRODER INVESTMENT MANAGEMENT GROUP | 0.76% | 28,179,443 | -9.9% | 0.28% | $356,751,748 |
| LAZARD ASSET MANAGEMENT LLC | 0.58% | 21,569,843 | +13% | 0.37% | $273,074,209 |
| Capital International Investors | 0.54% | 20,211,745 | +15% | 0.04% | $255,880,692 |
| ARGA Investment Management, LP | 0.51% | 18,808,705 | +70% | 6.3% | $238,118,205 |
| Invesco Ltd. | 0.48% | 18,014,949 | +63% | 0.04% | $228,069,255 |
| Fisher Asset Management, LLC | 0.38% | 14,295,108 | -2% | 0.07% | $180,976,066 |
| BlackRock, Inc. | 0.3% | 11,163,687 | +2.1% | 0% | $141,332,274 |
| Mondrian Investment Partners LTD | 0.3% | 11,092,621 | +20% | 2.3% | $140,432,582 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | 0.3% | 10,969,822 | -16% | 0.04% | $138,877,947 |
| RENAISSANCE TECHNOLOGIES LLC | 0.28% | 10,547,500 | +5.4% | 0.18% | $133,531,350 |
| MORGAN STANLEY | 0.26% | 9,776,137 | +13% | 0.01% | $123,765,926 |
| JPMORGAN CHASE & CO | 0.24% | 8,952,554 | -4.1% | 0.01% | $113,339,338 |
| BANK OF AMERICA CORP /DE/ | 0.23% | 8,518,683 | +64% | 0.01% | $107,846,526 |
| Itau Unibanco Holding S.A. | 0.22% | 8,041,545 | +42% | 3.5% | $101,805,959 |
| SPX Gestao de Recursos Ltda | 0.21% | 7,916,982 | +59% | 8.4% | $100,228,992 |
| MARSHALL WACE, LLP | 0.2% | 7,346,380 | +25% | 0.1% | $93,005,170 |
| PRICE T ROWE ASSOCIATES INC /MD/ | 0.18% | 6,855,996 | +19% | 0.01% | $86,798,000 |
| GOLDMAN SACHS GROUP INC | 0.18% | 6,711,598 | -17% | 0.01% | $84,968,836 |
| Robeco Institutional Asset Management B.V. | 0.16% | 5,823,554 | -0.35% | 0.11% | $73,726,194 |
| STATE STREET CORP | 0.15% | 5,639,777 | +5.8% | 0% | $71,811,997 |
| EARNEST PARTNERS LLC | 0.13% | 4,872,441 | +52% | 0.27% | $61,685,103 |
| D. E. Shaw & Co., Inc. | 0.13% | 4,842,300 | +54% | 0.05% | $61,303,518 |
| Period | Reported Shares, Excl. Options | Value, Excl. Options | Value Change | Price (Median) | Investors |
|---|---|---|---|---|---|
| 2025 Q4 | 3,695,327 | $44,172,477 | +$5,944,857 | $11.85 | 41 |
| 2025 Q3 | 643,706,248 | $8,148,960,814 | -$141,170,669 | $12.66 | 468 |
| 2025 Q2 | 644,073,589 | $8,059,821,152 | -$531,492,110 | $12.51 | 478 |
| 2025 Q1 | 685,098,306 | $9,822,339,288 | -$45,325,937 | $14.34 | 466 |
| 2024 Q4 | 696,079,939 | $8,965,247,027 | -$88,137,508 | $12.86 | 480 |
| 2024 Q3 | 667,882,163 | $9,632,451,004 | +$494,299,949 | $14.41 | 481 |
| 2024 Q2 | 673,109,586 | $9,753,446,933 | -$613,463,442 | $14.49 | 481 |
| 2024 Q1 | 714,891,445 | $10,878,922,328 | -$443,075,841 | $15.21 | 490 |
| 2023 Q4 | 742,517,031 | $11,862,727,623 | +$70,300,584 | $15.97 | 457 |
| 2023 Q3 | 734,854,905 | $11,016,217,789 | +$235,518,526 | $14.99 | 427 |
| 2023 Q2 | 709,071,644 | $9,810,759,623 | +$49,334,075 | $13.83 | 391 |
| 2023 Q1 | 726,335,365 | $7,574,151,512 | -$186,631,773 | $10.43 | 408 |
| 2022 Q4 | 750,047,535 | $7,987,656,543 | -$630,936,444 | $10.65 | 400 |
| 2022 Q3 | 801,661,688 | $9,893,068,289 | +$497,993,926 | $12.34 | 400 |
| 2022 Q2 | 762,015,090 | $8,905,695,804 | -$477,877,002 | $11.68 | 376 |
| 2022 Q1 | 800,470,558 | $11,840,470,949 | +$316,225,079 | $14.80 | 359 |
| 2021 Q4 | 757,913,335 | $8,318,446,996 | +$653,627,806 | $10.98 | 299 |
| 2021 Q3 | 702,966,153 | $7,265,030,346 | -$41,844,548 | $10.34 | 280 |
| 2021 Q2 | 699,475,699 | $8,545,129,096 | +$1,461,593,926 | $12.23 | 283 |
| 2021 Q1 | 586,683,978 | $4,969,907,374 | -$801,595,467 | $8.48 | 283 |
| 2020 Q4 | 657,202,951 | $7,369,772,707 | +$780,519,109 | $11.23 | 283 |
| 2020 Q3 | 601,067,836 | $4,273,950,458 | -$147,608,384 | $7.12 | 262 |
| 2020 Q2 | 621,195,575 | $5,135,114,154 | +$424,646,298 | $8.27 | 267 |
| 2020 Q1 | 577,813,647 | $3,190,152,206 | +$63,087,572 | $5.50 | 274 |
| 2019 Q4 | 489,684,986 | $7,799,427,040 | -$260,850,596 | $15.94 | 307 |
| 2019 Q3 | 504,275,703 | $7,296,972,612 | -$15,187,706 | $14.47 | 280 |
| 2019 Q2 | 505,027,843 | $7,857,733,227 | +$413,700,792 | $15.57 | 296 |
| 2019 Q1 | 477,360,112 | $7,585,287,538 | +$304,599,215 | $15.92 | 302 |
| 2018 Q4 | 460,814,991 | $5,986,790,681 | +$194,568,863 | $13.01 | 299 |
| 2018 Q3 | 448,078,216 | $5,404,657,912 | -$16,070,032 | $12.07 | 286 |
| 2018 Q2 | 449,931,036 | $4,507,274,729 | -$263,774,830 | $10.03 | 279 |
| 2018 Q1 | 450,551,249 | $6,365,353,784 | +$867,835,475 | $14.14 | 281 |
| 2017 Q4 | 407,424,997 | $4,188,749,518 | +$372,214,193 | $10.29 | 294 |
| 2017 Q3 | 371,723,921 | $3,731,456,189 | -$21,816,448 | $10.04 | 260 |
| 2017 Q2 | 376,227,205 | $3,004,035,349 | -$13,761,691 | $7.99 | 271 |
| 2017 Q1 | 382,163,488 | $3,700,817,433 | -$128,581,990 | $9.69 | 270 |
| 2016 Q4 | 404,717,300 | $4,093,529,674 | +$334,905,501 | $10.11 | 272 |
| 2016 Q3 | 373,177,079 | $3,480,565,114 | +$97,577,007 | $9.33 | 266 |
| 2016 Q2 | 366,095,993 | $2,627,848,424 | +$234,110,344 | $7.16 | 249 |
| 2016 Q1 | 331,528,491 | $1,944,978,409 | -$692,440,627 | $5.84 | 236 |
| 2015 Q4 | 451,454,102 | $1,940,700,797 | -$75,005,178 | $4.30 | 230 |
| 2015 Q3 | 468,324,101 | $2,035,655,733 | -$299,648,880 | $4.35 | 247 |
| 2015 Q2 | 494,131,144 | $4,471,690,336 | +$1,064,238,845 | $9.05 | 265 |
| 2015 Q1 | 385,213,424 | $2,311,335,690 | -$328,373,479 | $6.01 | 277 |
| 2014 Q4 | 430,290,796 | $3,136,491,626 | -$441,447,359 | $7.30 | 299 |
| 2014 Q3 | 452,835,605 | $6,426,852,443 | -$294,582,431 | $14.19 | 335 |
| 2014 Q2 | 473,385,673 | $6,938,872,132 | -$147,605,446 | $14.63 | 339 |
| 2014 Q1 | 484,885,981 | $6,390,873,556 | +$198,153,843 | $13.15 | 325 |