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Disclosery

GGB GERDAU SA

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ADR (ADR), issuer CIK 1073404

174 managers (182 13F filers) reported a position in GGB shares at 2025-12-31, 315,928,516 shares in all. 23 filers opened a position and 20 filers sold out during the quarter.

Managers
174
13F filers
182
New
23
Added
61
Reduced
62
Sold out
20
Shares held by filers
315,928,516

Shares held by filers adds up every 13F filer's report, so a share reported by a parent and by its subsidiary counts twice (H9). Managers counts each filer group once.

13D and 13G filers

No 13D or 13G on this security in the data. Structured 13D/G data starts 2024-12-18.

Insider trades

No Form 4 transaction on this security in the data.

13F holders, Q4 2025

Filers in the available 13F reports with a share position at 2025-12-31, filer groups collapsed to one row (method), largest first. Options and principal amounts are left out. A group row states no % of portfolio, since each member reports its own portfolio: the members' percents are listed under it. A value about 1,000 times or 1/1,000 of the price other filers imply is shown as filed but neither ranks the row nor enters a sum.

HolderSharesValue% of portfolioChangeSource
FMR LLCin group FMR LLC98,651,805$364M0.02%+13,353,49913F-HRTimelineGroup
Capital International Investorsgroup of 4 filers holding29,088,532$107M-3,712,661Timeline
DONALD SMITH & CO., INC.in group DONALD SMITH & CO., INC.24,211,588$89.3M1.67%+7,982,29613F-HRTimelineGroup
Aquamarine Financial (Cayman) Ltd19,526,171$72.1M5.87%+1,724,94313F-HRTimeline
CONTRARIAN CAPITAL MANAGEMENT, L.L.C.in group CONTRARIAN CAPITAL MANAGEMENT…19,069,112$70.4M18.53%013F-HRTimelineGroup
DIMENSIONAL FUND ADVISORS LPin group DIMENSIONAL FUND ADVISORS LP12,059,942$44.5M0.01%+15,58913F-HRTimelineGroup
Itau Unibanco Holding S.A.in group Itau Unibanco Holding S.A.8,744,732$32.3M0.79%-1,211,52913F-HRTimelineGroup
CAUSEWAY CAPITAL MANAGEMENT LLC7,259,433$26.8M0.37%+70,16313F-HRTimeline
BlackRock, Inc.in group BlackRock, Inc.7,067,528$26.1M<0.01%+64,41113F-HRTimelineGroup
RENAISSANCE TECHNOLOGIES LLC6,211,324$22.9M0.04%-4,645,82413F-HRTimeline
CITADEL ADVISORS LLCin group CITADEL ADVISORS LLC6,067,900$22.4M0.02%+4,059,88513F-HRTimelineGroup
MORGAN STANLEYin group MORGAN STANLEY5,802,585$21.4M<0.01%-884,51313F-HR/ATimelineGroup
AMERICAN CENTURY COMPANIES INCin group AMERICAN CENTURY COMPANIES INC5,424,093$20M0.01%+603,08513F-HRTimelineGroup
SPX Gestao de Recursos Ltdain group SPX Gestao de Recursos Ltda4,894,496$18.1M1.85%+403,45413F-HRTimelineGroup
TWO SIGMA INVESTMENTS, LPgroup of 2 filers holding4,276,647$15.8M-6,433,923Timeline
MACKENZIE FINANCIAL CORP4,117,253$15.3M0.02%+1,837,16013F-HRTimeline
STATE STREET CORPin group STATE STREET CORP3,531,028$13M<0.01%+190,48313F-HRTimelineGroup
MILLENNIUM MANAGEMENT LLCin group MILLENNIUM MANAGEMENT LLC3,505,150$12.9M0.01%+1,475,35113F-HRTimelineGroup
UBS Group AGgroup of 2 filers holding3,168,419$11.7M-913,605Timeline
GOLDMAN SACHS GROUP INCin group GOLDMAN SACHS GROUP INC2,626,041$9.69M<0.01%-2,586,76313F-HR/ATimelineGroup
FIL Ltdin group FIL Ltd2,544,394$9.39M0.01%-498,12613F-HRTimelineGroup
Optiver Holding B.V.in group Optiver Holding B.V.2,530,923$9.34M0.17%-2,904,40813F-HRTimelineGroup
VANGUARD GROUP INCgroup of 2 filers holding2,247,639$8.29M-1,053,633Timeline
Point72 Asset Management, L.P.in group Point72 Asset Management, L.P.2,072,395$7.65M0.01%+1,693,79513F-HRTimelineGroup
Jump Financial, LLCin group Jump Financial, LLC2,005,343$7.4M0.09%new13F-HRTimelineGroup
MARSHALL WACE, LLPin group MARSHALL WACE, LLP1,882,450$6.95M0.01%-69,96313F-HRTimelineGroup
D. E. Shaw & Co., Inc.in group D. E. Shaw & Co., Inc.1,615,446$5.96M<0.01%-1,550,81313F-HRTimelineGroup
Sagil Capital LLP1,567,825$5.79M3.62%013F-HRTimeline
Amundiin group Amundi1,359,223$5.02M<0.01%+40,00013F-HRTimelineGroup
MASSACHUSETTS FINANCIAL SERVICES CO /MA/in group MASSACHUSETTS FINANCIAL SERVI…1,327,066$4.9M<0.01%+386,59413F-HRTimelineGroup
JANE STREET GROUP, LLCin group JANE STREET GROUP, LLC1,251,423$4.62M0.01%new13F-HRTimelineGroup
Aquatic Capital Management LLC1,028,902$3.8M0.11%+341,43613F-HRTimeline
BNP PARIBAS ASSET MANAGEMENT Holding S.…in group BNP PARIBAS ASSET MANAGEMENT …1,024,392$3.78M<0.01%new13F-HRTimelineGroup
NORTHERN TRUST CORPin group NORTHERN TRUST CORP1,017,007$3.75M<0.01%+36,75913F-HRTimelineGroup
Russell Investments Group, Ltd.in group Russell Investments Group, Lt…869,699$3.24M<0.01%new13F-HRTimelineGroup
Legal & General Group Plcin group Legal & General Group Plc840,628$3.1M<0.01%013F-HRTimelineGroup
VAN ECK ASSOCIATES CORPin group VAN ECK ASSOCIATES CORP833,545$3.08M<0.01%-438,59513F-HRTimelineGroup
HSBC HOLDINGS PLCin group HSBC HOLDINGS PLC822,772$3.04M<0.01%+27,22913F-HR/ATimelineGroup
Banque Cantonale Vaudoisein group Banque Cantonale Vaudoise800,000$2.95M0.11%new13F-HRTimelineGroup
Quadrature Capital Ltdin group Quadrature Capital Ltd784,361$2.89M0.03%new13F-HRTimelineGroup
Connor, Clark & Lunn Investment Managem…719,207$2.65M0.01%-132,45313F-HRTimeline
ACADIAN ASSET MANAGEMENT LLCin group ACADIAN ASSET MANAGEMENT LLC598,087$2.21M<0.01%+412,32113F-HRTimelineGroup
XTX Topco Ltdin group XTX Topco Ltd588,619$2.17M0.06%+273,57613F-HRTimelineGroup
Grantham, Mayo, Van Otterloo & Co. LLC586,191$2.16M0.01%-55,13213F-HRTimeline
Virtus Family Office LLC574,870$2.12M1.83%-19913F-HRTimeline
Navi International - Administradora e G…550,000$2.03M1.28%13F-HRTimeline
Schonfeld Strategic Advisors LLC545,963$2.01M0.01%-734,14613F-HRTimeline
GUGGENHEIM CAPITAL LLCin group GUGGENHEIM CAPITAL LLC406,644$1.5M0.01%+9,07013F-HRTimelineGroup
Fisher Asset Management, LLC406,181$1.5M<0.01%+1,20013F-HRTimeline
CI INVESTMENTS INC.in group CI INVESTMENTS INC.317,443$1.17M0.01%013F-HRTimelineGroup
SUSQUEHANNA INTERNATIONAL GROUP, LLPin group SUSQUEHANNA INTERNATIONAL GRO…298,309$1.1M<0.01%-469,92313F-HRTimelineGroup
Ethic Inc.297,228$1.1M0.02%+48,56813F-HRTimeline
Invesco Ltd.in group Invesco Ltd.286,302$1.06M<0.01%+14,14213F-HRTimelineGroup
COMMONWEALTH EQUITY SERVICES, LLC285,259$1.05M<0.01%+4,64313F-HRTimeline
SEI INVESTMENTS COin group SEI INVESTMENTS CO282,193$1.04M<0.01%+205,53013F-HRTimelineGroup
AQR CAPITAL MANAGEMENT LLCin group AQR CAPITAL MANAGEMENT LLC272,723$1.01M<0.01%+72,51013F-HRTimelineGroup
Quantbot Technologies LP269,554$995K0.03%-120,88913F-HRTimeline
Creative Planningin group Creative Planning263,111$971K<0.01%+114,45313F-HRTimelineGroup
ARGA Investment Management, LP241,625$892K0.02%-10,76213F-HRTimeline
STRS OHIO221,039$816K<0.01%-38,62113F-HRTimeline
Hartree Partners, LP210,000$775K0.28%+30,91013F-HRTimeline
NEUBERGER BERMAN GROUP LLCin group NEUBERGER BERMAN GROUP LLC192,899$712K<0.01%-21,17813F-HRTimelineGroup
JPMORGAN CHASE & COin group JPMORGAN CHASE & CO185,306$684K<0.01%-53,32913F-HRTimelineGroup
Tidal Investments LLCin group Tidal Investments LLC150,552$556K<0.01%+9,04013F-HRTimelineGroup
GSA CAPITAL PARTNERS LLP140,640$519K0.04%-175,75613F-HRTimeline
Vident Advisory, LLCin group Vident Advisory, LLC133,851$494K<0.01%+30,80013F-HRTimelineGroup
Virtu Financial LLCin group Virtu Financial LLC119,006$439K0.02%-305,37913F-HRTimelineGroup
CAPITAL GROUP INVESTMENT MANAGEMENT PTE…in group CAPITAL GROUP INVESTMENT MANA…117,331$433K0.07%-12,81913F-HRTimelineGroup
BANK OF AMERICA CORP /DE/in group BANK OF AMERICA CORP /DE/115,043$425K<0.01%-15,779,82813F-HRTimelineGroup
Squarepoint Ops LLCin group Squarepoint Ops LLC105,813$390K<0.01%-225,31913F-HRTimelineGroup
CITIGROUP INCin group CITIGROUP INC105,671$390K<0.01%-5,58313F-HRTimelineGroup
Integrated Wealth Concepts LLC104,415$385K<0.01%+10,38413F-HRTimeline
TRUIST FINANCIAL CORPin group TRUIST FINANCIAL CORP103,153$381K<0.01%+67013F-HRTimelineGroup
Daiwa Securities Group Inc.in group Daiwa Securities Group Inc.97,536$360K<0.01%-52,00013F-HRTimelineGroup
RBF Capital, LLC90,000$332K0.02%013F-HR/ATimeline
Stratos Wealth Partners, LTD.in group Stratos Wealth Partners, LTD.88,200$325K<0.01%013F-HRTimelineGroup
VPR Management LLC86,242$318K0.14%013F-HRTimeline
Mirae Asset Global Investments Co., Ltd.group of 2 filers holding81,521$301K+4,578Timeline
Robeco Institutional Asset Management B…in group Robeco Institutional Asset Ma…80,595$297K<0.01%-181,74613F-HRTimelineGroup
BNP PARIBAS FINANCIAL MARKETSin group BNP PARIBAS FINANCIAL MARKETS75,751$280K<0.01%-103,31913F-HRTimelineGroup
Crossmark Global Holdings, Inc.74,784$276K<0.01%013F-HRTimeline
Sequoia Financial Advisors, LLC72,343$267K<0.01%+7,60813F-HRTimeline
FLOW TRADERS U.S. LLC65,056$240K0.01%new13F-HRTimeline
LGT Group Foundationin group LGT Group Foundation58,160$216K<0.01%013F-HRTimelineGroup
Caprock Group, LLC58,540$216K<0.01%-9,89013F-HRTimeline
BSW Wealth Partners53,697$198K0.02%+2,42813F-HRTimeline
CoreCommodity Management, LLC48,408$179K0.04%013F-HRTimeline
Engineers Gate Manager LP47,879$177K<0.01%-1,579,16413F-HRTimeline
QUADRANT CAPITAL GROUP LLC46,894$173K0.01%013F-HRTimeline
Inspire Investing, LLCgroup of 2 filers holding45,249$167K-1,402Timeline
Marex Group Ltdin group Marex Group Ltd43,843$162K<0.01%-59,25613F-HRTimelineGroup
RHUMBLINE ADVISERS41,639$154K<0.01%-5,93013F-HRTimeline
Pathstone Holdings, LLCin group Pathstone Holdings, LLC41,401$153K<0.01%+8,90413F-HRTimelineGroup
Cambridge Investment Research Advisors,…38,717$143K<0.01%-32,25113F-HRTimeline
MONEY CONCEPTS CAPITAL CORP38,430$142K0.01%013F-HRTimeline
Cerity Partners LLCin group Cerity Partners LLC35,990$133K<0.01%+6,61213F-HRTimelineGroup
Magnetar Financial LLCin group Magnetar Financial LLC34,114$126K<0.01%new13F-HRTimelineGroup
PROFUND ADVISORS LLC33,635$124K<0.01%+7,64413F-HRTimeline
Sowell Financial Services LLC33,377$123K<0.01%+1,00013F-HRTimeline
Fractal Investments LLC33,264$123K0.02%013F-HRTimeline
Tuttle Capital Management, LLC31,986$118K0.26%new13F-HRTimeline
PNC Financial Services Group, Inc.in group PNC Financial Services Group,…31,219$115K<0.01%-3,28313F-HRTimelineGroup
Corient Private Wealth LPin group Corient Private Wealth LP28,394$105K<0.01%-18313F-HR/ATimelineGroup
JOHNSON INVESTMENT COUNSEL INC28,300$104K<0.01%013F-HRTimeline
West Family Investments, Inc.28,168$104K0.02%013F-HRTimeline
PharVision Advisers, LLC27,308$101K0.05%+5,24013F-HRTimeline
QRG CAPITAL MANAGEMENT, INC.26,904$99.3K<0.01%-20,45113F-HRTimeline
Ballentine Partners, LLC26,578$98.1K<0.01%+7,78913F-HRTimeline
Mitsubishi UFJ Trust & Banking Corpin group Mitsubishi UFJ Trust & Bankin…26,455$97.6K<0.01%-2,40013F-HRTimelineGroup
Pavaki Capital Management LLC25,200$93K0.06%13F-HR/ATimeline
YOUSIF CAPITAL MANAGEMENT, LLC22,284$92.7K<0.01%013F-HRTimeline
TUDOR INVESTMENT CORP ET AL24,638$90.9K<0.01%new13F-HRTimeline
State of Wyoming24,228$89.4K0.01%+16,89013F-HRTimeline
WELLS FARGO & COMPANY/MNin group WELLS FARGO & COMPANY/MN22,733$83.9K<0.01%-3,21413F-HRTimelineGroup
RAYMOND JAMES FINANCIAL INCin group RAYMOND JAMES FINANCIAL INC22,244$82.1K<0.01%013F-HRTimelineGroup
XPONANCE LLC20,570$75.9K<0.01%+2,84513F-HRTimeline
Aigen Investment Management, LP19,304$71.2K0.02%-21,36613F-HRTimeline
Plan A Wealth LLC17,944$66.2K0.03%+2,04713F-HRTimeline
TWO SIGMA SECURITIES, LLC17,447$64.4K0.01%+7,34313F-HRTimeline
Sigma Planning Corp17,325$63.9K<0.01%+7313F-HRTimeline
NATIONAL BANK OF CANADA /FI/in group NATIONAL BANK OF CANADA /FI/17,131$63K<0.01%+1,05913F-HRTimelineGroup
SIGNATUREFD, LLC16,701$61.6K<0.01%-4313F-HRTimeline
Sivia Capital Partners, LLC15,549$57.4K0.01%-1,86913F-HRTimeline
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF O…15,076$55.6K<0.01%new13F-HRTimeline
Argos Wealth Advisors, LLC14,757$54.5K0.01%13F-HRTimeline
FRANKLIN RESOURCES INCin group Franklin Resources14,666$54.1K<0.01%+5213F-HRTimelineGroup
KCM INVESTMENT ADVISORS LLC14,576$53.8K<0.01%013F-HRTimeline
O'SHAUGHNESSY ASSET MANAGEMENT, LLC14,415$53.2K<0.01%+1,16213F-HRTimeline
Parallel Advisors, LLC14,355$53K<0.01%+53313F-HRTimeline
MML INVESTORS SERVICES, LLC12,374$45.7K<0.01%+2,34513F-HRTimeline
COLDSTREAM CAPITAL MANAGEMENT INC11,970$44.2K<0.01%013F-HRTimeline
MERCER GLOBAL ADVISORS INC /ADV11,890$43.9K<0.01%-3,85713F-HRTimeline
UNITED CAPITAL FINANCIAL ADVISORS, LLCin group UNITED CAPITAL FINANCIAL ADVI…11,792$43.5K<0.01%new13F-HRTimelineGroup
Zhang Financial LLC11,695$43.2K<0.01%013F-HRTimeline
MGO ONE SEVEN LLC11,532$42.6K<0.01%+1,08913F-HRTimeline
GROUP ONE TRADING LLC11,390$42K<0.01%new13F-HRTimeline
IEQ CAPITAL, LLC11,116$41K<0.01%-37613F-HRTimeline
Private Advisor Group, LLC11,060$40.8K<0.01%+1413F-HRTimeline
Greenspring Advisors, LLC10,906$40.2K<0.01%new13F-HRTimeline
Capstone Financial Advisors, Inc.10,000$36.9K<0.01%013F-HRTimeline
US BANCORP \DE\in group US BANCORP \DE\9,401$34.7K<0.01%013F-HRTimelineGroup
Pinnacle Wealth Planning Services, Inc.9,232$34.1K<0.01%new13F-HRTimeline
Caitong International Asset Management …8,490$31.3K0.01%-2,59713F-HR/ATimeline
EverSource Wealth Advisors, LLCin group EverSource Wealth Advisors, L…8,401$31K<0.01%-1,18813F-HRTimelineGroup
Basecamp Wealth Advisors LLC7,870$29K0.01%13F-HRTimeline
ROYAL BANK OF CANADAin group ROYAL BANK OF CANADA6,691$25K<0.01%-3,07513F-HRTimelineGroup
Pioneer Family Office, LLC6,174$22.8K0.02%13F-HRTimeline
Eurizon Capital SGR S.p.A.2,893$10.7K<0.01%13F-HRTimeline
GAMMA Investing LLC2,685$9.91K<0.01%+30113F-HRTimeline
North Star Investment Management Corp.2,520$9.3K<0.01%013F-HRTimeline
Ritter Daniher Financial Advisory LLC /…2,135$7.88K<0.01%new13F-HRTimeline
Blue Trust, Inc.1,828$6.75K<0.01%-4,76813F-HRTimeline
Allworth Financial LP1,616$5.96K<0.01%-4,38713F-HRTimeline
Farther Finance Advisors, LLC1,404$5.18K<0.01%+1,36813F-HRTimeline
SIMPLEX TRADING, LLC1,254$4.63K<0.01%-4,00613F-HRTimeline
Rockefeller Capital Management L.P.in group Rockefeller Capital Managemen…1,185$4.37K<0.01%-86413F-HR/ATimelineGroup
Tower Research Capital LLC (TRC)in group Tower Research Capital LLC (T…1,054$3.89K<0.01%-51213F-HRTimelineGroup
WealthCollab, LLC1,035$3.82K<0.01%013F-HRTimeline
ASSETMARK, INCin group ASSETMARK, INC920$3.4K<0.01%013F-HRTimelineGroup
BROWN BROTHERS HARRIMAN & COin group BROWN BROTHERS HARRIMAN & CO818$3.02K<0.01%new13F-HRTimelineGroup
Federation des caisses Desjardins du Qu…756$2.79K<0.01%-75613F-HRTimeline
Ramirez Asset Management, Inc.543$2K<0.01%new13F-HRTimeline
TUCKER ASSET MANAGEMENT LLC378$1.4K<0.01%new13F-HRTimeline
Bogart Wealth, LLC344$1.27K<0.01%new13F-HRTimeline
JFS WEALTH ADVISORS, LLC273$1.01K<0.01%+7913F-HRTimeline
HANTZ FINANCIAL SERVICES, INC.261$1K<0.01%new13F-HRTimelineThe filing omitted confidential holdings, a later amendment may add them.
CWM, LLCin group CWM, LLC237$1K<0.01%013F-HRTimelineGroup
Strategic Wealth Partners, Ltd.252$930<0.01%new13F-HRTimeline
Addison Advisors LLC250$923<0.01%013F-HRTimeline
Bell Investment Advisors, Inc187$691<0.01%-11113F-HRTimeline
True Wealth Design, LLC80$296<0.01%013F-HRTimeline
Ancora Advisors LLCin group Ancora Advisors LLC65$240<0.01%new13F-HRTimelineGroup
HUNTINGTON NATIONAL BANKin group HUNTINGTON NATIONAL BANK1$4<0.01%013F-HRTimelineGroup
DANSKE BANK A/S1$4<0.01%013F-HRTimeline