BNDES Participacoes S.A.

Q4 2025 13F Holdings Report, Stock Holdings

Signature - Title
Marcelo Marcolino & Marcio Bernardo Spata - Superintendent & Department Head
Location
Rio De Janeiro, Brazil
Holdings as of
31 Dec 2025
Value $
$2,874,073,906
Num holdings
1
Filing time
13 Feb 2026, 17:28:28 UTC
Form type
13F-HR
Description
All US holdings of this investor are reported in this report. Top holdings included JBS.
Sym Weight Trade Impact Company Class Share Change Activity Value Change $ Value $ * Price $ Shares Principal
* Reported Price is the price of the security as of the portfolio date. This value is significant in that it is the last known price at which the security was still held.
An asterisk sign (*) next to the price indicates that the price is likely invalid.

Person Signing this Report on Behalf of Reporting Manager:

Name Title City, State Date
Marcelo Marcolino & Marcio Bernardo Spata Superintendent & Department Head Rio de Janeiro, Brazil 12 Feb 2026