% of shares outstanding not shown: this line files 20-F annual reports only — a foreign private issuer whose US listing trades as ADSs (depositary receipts), while its cover-page share count is in ORDINARY shares. The depositary ratio is not in our data. The count we hold for this line is 717,782,619 shares (as of 2025-12-31, source dei). Dividing one by the other is wrong by the whole ratio (a 5:1 ADR reads one fifth of the true percentage), so the percentage is withheld rather than served wrong. Holder share counts are shown as filed.
Crowding percentile withheld — no market cap for GGB in the served universe — the cohort is size-matched, and an unmatched percentile would compare a micro-cap register to a mega-cap one.
| # | Holder | Shares | Value | % of shares out | Δ QoQ |
|---|---|---|---|---|---|
| 1 | Capital World Investors | 27,530,30627.5M | $99M | — | NEW† |
| 2 | TWO SIGMA INVESTMENTS, LP | 25,839,72025.8M | $93M | — | ADD 589% |
| 3 | DONALD SMITH & CO., INC. | 24,140,58324.1M | $87M | — | — |
| 4 | CONTRARIAN CAPITAL MANAGEMENT, L.L.C. | 19,069,11219.1M | $69M | — | — |
| 5 | Aquamarine Financial (Cayman) Ltd | 16,726,17116.7M | $60M | — | TRIM -14% |
| 6 | BANK OF AMERICA CORP /DE/ | 13,222,62313.2M | $48M | — | ADD 11394% |
| 7 | ACADIAN ASSET MANAGEMENT LLC | 13,040,90313.0M | $47M | — | ADD 2080% |
| 8 | DIMENSIONAL FUND ADVISORS LP | 11,875,63111.9M | $43M | — | — |
| 9 | GOLDMAN SACHS GROUP INC | 10,994,11911.0M | $40M | — | ADD 319% |
| 10 | RENAISSANCE TECHNOLOGIES LLC | 10,936,52410.9M | $39M | — | ADD 76% |
| 11 | BlackRock, Inc. | 10,852,88310.9M | $39M | — | ADD 54% |
| 12 | D. E. Shaw & Co., Inc. | 8,717,2888.7M | $31M | — | ADD 440% |
| 13 | JANE STREET GROUP, LLC | 7,936,2567.9M | $29M | — | ADD 534% |
| 14 | MACKENZIE FINANCIAL CORP | 7,777,5777.8M | $28M | — | ADD 89% |
| 15 | MORGAN STANLEY | 7,500,8357.5M | $27M | — | ADD 29% |
| 16 | CAUSEWAY CAPITAL MANAGEMENT LLC | 6,841,1556.8M | $25M | — | TRIM -6% |
| 17 | AMERICAN CENTURY COMPANIES INC | 6,649,7766.6M | $24M | — | ADD 23% |
| 18 | Itau Unibanco Holding S.A. | 6,208,6326.2M | $22M | — | TRIM -29% |
| 19 | MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | 5,213,2855.2M | $19M | — | ADD 293% |
| 20 | SPX Gestao de Recursos Ltda | 4,254,2234.3M | $15M | — | TRIM -13% |
| 21 | Qube Research & Technologies Ltd | 4,073,7014.1M | $15M | — | NEW |
| 22 | STATE STREET CORP | 3,700,2993.7M | $13M | — | ADD 5% |
| 23 | Engineers Gate Manager LP | 3,120,1823.1M | $11M | — | ADD 6417% |
| 24 | MILLENNIUM MANAGEMENT LLC | 2,772,0772.8M | $10M | — | TRIM -21% |
| 25 | FIL Ltd | 2,691,0232.7M | $10M | — | ADD 6% |
| 26 | Kapitalo Investimentos Ltda | 2,664,1582.7M | $10M | — | NEW |
| 27 | Russell Investments Group, Ltd. | 2,688,7912.7M | $9M | — | ADD 209% |
| 28 | UBS Group AG | 2,233,9502.2M | $8M | — | TRIM -26% |
| 29 | BNP PARIBAS ASSET MANAGEMENT Holding S.A. | 2,087,0692.1M | $8M | — | ADD 104% |
| 30 | VANGUARD CAPITAL MANAGEMENT LLC | 2,020,2872.0M | $7M | — | NEW |
| 31 | UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 1,808,5551.8M | $7M | — | ADD 1249% |
| 32 | Grantham, Mayo, Van Otterloo & Co. LLC | 1,574,7401.6M | $6M | — | ADD 169% |
| 33 | Man Group plc | 1,509,7671.5M | $5M | — | NEW |
| 34 | Amundi | 1,421,8301.4M | $5M | — | ADD 5% |
| 35 | Aquatic Capital Management LLC | 1,389,1431.4M | $5M | — | ADD 35% |
| 36 | Optiver Holding B.V. | 1,166,1481.2M | $4M | — | TRIM -54% |
| 37 | AQR CAPITAL MANAGEMENT LLC | 1,100,4791.1M | $4M | — | ADD 304% |
| 38 | NEW YORK STATE COMMON RETIREMENT FUND | 1,094,5841.1M | $4M | — | NEW |
| 39 | SEI INVESTMENTS CO | 1,078,9171.1M | $4M | — | ADD 282% |
| 40 | NORTHERN TRUST CORP | 1,013,5711.0M | $4M | — | — |
| 41 | CAPITAL INTERNATIONAL SARL | 954,655954,655 | $3M | — | ADD 2% |
| 42 | CITIGROUP INC | 925,411925,411 | $3M | — | ADD 776% |
| 43 | Point72 Asset Management, L.P. | 880,433880,433 | $3M | — | TRIM -58% |
| 44 | HSBC HOLDINGS PLC | 857,336857,336 | $3M | — | TRIM -48% |
| 45 | Legal & General Group Plc | 840,628840,628 | $3M | — | — |
| 46 | Banque Cantonale Vaudoise | 800,000800,000 | $3M | — | — |
| 47 | BTG Pactual Asset Management US LLC | 765,924765,924 | $3M | — | NEW |
| 48 | VAN ECK ASSOCIATES CORP | 700,610700,610 | $3M | — | TRIM -16% |
| 49 | DEUTSCHE BANK AG\ | 699,285699,285 | $3M | — | NEW |
| 50 | Creative Planning | 605,923605,923 | $2M | — | ADD 130% |
| 51 | MARSHALL WACE, LLP | 586,600586,600 | $2M | — | TRIM -69% |
| 52 | Jump Financial, LLC | 567,779567,779 | $2M | — | TRIM -72% |
| 53 | Navi International - Administradora e Gestora de Recursos Financeiros Ltda. | 550,000550,000 | $2M | — | — |
| 54 | CAPITAL INTERNATIONAL LTD /CA/ | 527,933527,933 | $2M | — | — |
| 55 | Invesco Ltd. | 505,291505,291 | $2M | — | ADD 76% |
| 56 | Quantbot Technologies LP | 466,744466,744 | $2M | — | ADD 73% |
| 57 | GUGGENHEIM CAPITAL LLC | 437,141437,141 | $2M | — | ADD 7% |
| 58 | GSA CAPITAL PARTNERS LLP | 381,090381,090 | $1M | — | ADD 171% |
| 59 | HRT FINANCIAL LP | 367,720367,720 | $1M | — | NEW |
| 60 | VANGUARD FIDUCIARY TRUST CO | 365,955365,955 | $1M | — | NEW |
| 61 | CI INVESTMENTS INC. | 341,274341,274 | $1M | — | ADD 8% |
| 62 | Fisher Asset Management, LLC | 326,059326,059 | $1M | — | TRIM -20% |
| 63 | Squarepoint Ops LLC | 317,274317,274 | $1M | — | ADD 200% |
| 64 | COMMONWEALTH EQUITY SERVICES, LLC | 283,862283,862 | $1M | — | — |
| 65 | NEUBERGER BERMAN GROUP LLC | 241,214241,214 | $870,783 | — | ADD 25% |
| 66 | Ethic Inc. | 238,924238,924 | $862,516 | — | TRIM -20% |
| 67 | JPMORGAN CHASE & CO | 243,541243,541 | $842,652 | — | ADD 31% |
| 68 | Centiva Capital, LP | 215,253215,253 | $777,063 | — | NEW |
| 69 | Capital International, Inc./CA/ | 210,637210,637 | $760,400 | — | — |
| 70 | Hartree Partners, LP | 210,000210,000 | $758,100 | — | — |
| 71 | STRS OHIO | 191,830191,830 | $692,506 | — | TRIM -13% |
| 72 | BNP PARIBAS FINANCIAL MARKETS | 181,258181,258 | $654,341 | — | ADD 139% |
| 73 | Schonfeld Strategic Advisors LLC | 180,395180,395 | $651,224 | — | TRIM -67% |
| 74 | Tidal Investments LLC | 173,596173,596 | $626,682 | — | ADD 15% |
| 75 | Vident Advisory, LLC | 158,508158,508 | $572,214 | — | ADD 18% |
| 76 | Daiwa Securities Group Inc. | 138,536138,536 | $500,115 | — | ADD 42% |
| 77 | Robeco Institutional Asset Management B.V. | 135,374135,374 | $488,701 | — | ADD 68% |
| 78 | LARCH CAPITAL PARTNERS LLC | 134,136134,136 | $484,231 | — | NEW |
| 79 | Integrated Wealth Concepts LLC | 120,682120,682 | $435,663 | — | ADD 16% |
| 80 | CAPITAL GROUP INVESTMENT MANAGEMENT PTE. LTD. | 117,331117,331 | $423,565 | — | — |
| 81 | Diversified Trust Co | 105,249105,249 | $379,948 | — | NEW |
| 82 | TRUIST FINANCIAL CORP | 103,448103,448 | $373,446 | — | — |
| 83 | CITADEL ADVISORS LLC | 99,58199,581 | $359,487 | — | TRIM -98% |
| 84 | Virtus Family Office LLC | 96,23996,239 | $347,423 | — | TRIM -83% |
| 85 | Stratos Wealth Partners, LTD. | 88,20088,200 | $318,402 | — | — |
| 86 | VPR Management LLC | 86,24286,242 | $311,334 | — | — |
| 87 | Sequoia Financial Advisors, LLC | 76,49476,494 | $276,144 | — | ADD 6% |
| 88 | CAXTON ASSOCIATES LLP | 75,30075,300 | $271,833 | — | NEW |
| 89 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 75,29575,295 | $271,815 | — | TRIM -75% |
| 90 | Connor, Clark & Lunn Investment Management Ltd. | 74,78474,784 | $269,970 | — | TRIM -90% |
| 91 | XPONANCE LLC | 74,66974,669 | $269,555 | — | ADD 263% |
| 92 | XTX Topco Ltd | 74,16374,163 | $267,728 | — | TRIM -87% |
| 93 | Crossmark Global Holdings, Inc. | 71,79971,799 | $259,194 | — | TRIM -4% |
| 94 | AXQ CAPITAL, LP | 68,83068,830 | $248,476 | — | NEW |
| 95 | Magnetar Financial LLC | 59,89059,890 | $216,203 | — | ADD 76% |
| 96 | PROFUND ADVISORS LLC | 58,48758,487 | $211,138 | — | ADD 74% |
| 97 | LGT Group Foundation | 58,16058,160 | $209,958 | — | — |
| 98 | BSW Wealth Partners | 54,16354,163 | $195,529 | — | — |
| 99 | QUADRANT CAPITAL GROUP LLC | 50,19450,194 | $181,201 | — | ADD 7% |
| 100 | CoreCommodity Management, LLC | 48,40848,408 | $174,753 | — | — |
† a filer this large appearing as NEW usually reflects a renamed or succeeded filing entity (the old name stops filing the same quarter) — not a brand-new position.
Rows rank by the value each filer reported — 13F filers price their own positions, so a holder with fewer shares can rank just above one with more.
| Holder | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| Capital World Investors | — | — | — | — | — | 27.5M | $99M |
| TWO SIGMA INVESTMENTS, LP | 14.8M | 11.6M | 7.8M | 7.5M | 3.8M | 25.8M | $93M |
| DONALD SMITH & CO., INC. | — | — | 6.0M | 16.2M | 24.2M | 24.1M | $87M |
| CONTRARIAN CAPITAL MANAGEMENT, L.L.C. | 19.2M | 19.2M | 19.1M | 19.1M | 19.1M | 19.1M | $69M |
| Aquamarine Financial (Cayman) Ltd | — | — | — | 17.8M | 19.5M | 16.7M | $60M |
| BANK OF AMERICA CORP /DE/ | 10.1M | 4.9M | 13.0M | 15.9M | 115K | 13.2M | $48M |
| ACADIAN ASSET MANAGEMENT LLC | 11.1M | 3.3M | 868K | 186K | 598K | 13.0M | $47M |
| DIMENSIONAL FUND ADVISORS LP | 13.2M | 13.1M | 12.4M | 12.0M | 12.1M | 11.9M | $43M |
| GOLDMAN SACHS GROUP INC | 15.7M | 2.0M | 3.4M | 5.2M | 2.6M | 11.0M | $40M |
| RENAISSANCE TECHNOLOGIES LLC | 5.6M | 8.4M | 10.2M | 10.9M | 6.2M | 10.9M | $39M |
| BlackRock, Inc. | 8.1M | 8.2M | 7.0M | 7.0M | 7.1M | 10.9M | $39M |
| D. E. Shaw & Co., Inc. | 1.8M | 877K | 2.4M | 3.2M | 1.6M | 8.7M | $31M |
| JANE STREET GROUP, LLC | 1.2M | 195K | 155K | — | 1.3M | 7.9M | $29M |
| MACKENZIE FINANCIAL CORP | 1.3M | 2.4M | 1.5M | 2.3M | 4.1M | 7.8M | $28M |
| MORGAN STANLEY | 18.9M | 9.3M | 4.3M | 6.7M | 5.8M | 7.5M | $27M |
Shares reported each quarter by the largest current holders. Green = added vs the prior filing, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
Holder count only — too few computable %-of-shares-outstanding quarters for a % pane. Line breaks are quarters with no 13F record, never interpolated.
Short interest has its own tab now — open SI →
Source: SEC Form 13F — every institution manager (≥ $100M in 13F securities) reporting a long US-listed position, across ~10,250 filers over 10 years of history. 13F is long-only, US-listed, filed up to 45 days after quarter-end.
| Biggest buyers | Δ shares | Δ value | |
|---|---|---|---|
| Capital World Investors | +27,530,306 | $99M | OPEN |
| TWO SIGMA INVESTMENTS, LP | +22,088,653 | $80M | ADD |
| BANK OF AMERICA CORP /DE/ | +13,107,580 | $47M | ADD |
| ACADIAN ASSET MANAGEMENT LLC | +12,442,816 | $45M | ADD |
| GOLDMAN SACHS GROUP INC | +8,368,078 | $30M | ADD |
| Biggest sellers | Δ shares | Δ value | |
|---|---|---|---|
| FMR LLC | −98,640,849 | $356M | TRIM |
| Capital International Investors | −27,415,434 | $99M | CLOSE |
| CITADEL ADVISORS LLC | −5,968,319 | $22M | TRIM |
| Aquamarine Financial (Cayman) Ltd | −2,800,000 | $10M | TRIM |
| Itau Unibanco Holding S.A. | −2,536,100 | $9M | TRIM |
The 2025-Q4 register is as-filed in ITS OWN share basis; every count below was rebased into the 2026-Q1 basis (no split in between, factor 1). Dollar figures value the SHARE delta at one price — the 2026-03-31 close — rather than differencing two filings' own reported values, which would mix the quarter's price move into the trade figure.
13Fs disclose LONG US-listed positions only — shorts, most derivatives, bonds and non-US listings are invisible here, and a filer's quarter-over-quarter change is not necessarily a trade (index rebalances, in-kind transfers and entity successions all read as flow).
| Quarter | Holders | Shares held | % shares out | Value held |
|---|---|---|---|---|
| 2026-Q1 | 192 | 306,319,987 | — | $1.1B |
| 2025-Q4 | 180 | 316,836,612 | — | $1.2B |
| 2025-Q3 | 176 | 327,754,567 | — | $1.0B |
| 2025-Q2 | 167 | 304,766,132 | — | $890M |
| 2025-Q1 | 182 | 309,805,716 | — | $880M |
| 2024-Q4 | 187 | 325,284,388 | — | $937M |
| 2024-Q3 | 187 | 319,456,541 | — | $1.1B |
| 2024-Q2 | 186 | 326,493,406 | — | $1.1B |
| 2024-Q1 | 180 | 272,135,050 | — | $1.2B |
| 2023-Q4 | 190 | 277,805,461 | — | $1.3B |
| 2023-Q3 | 187 | 276,425,254 | — | $1.3B |
| 2023-Q2 | 202 | 275,428,688 | — | $1.4B |
| 2023-Q1 | 221 | 298,347,926 | — | $1.5B |
| 2022-Q4 | 225 | 281,885,152 | — | $1.5B |
| 2022-Q3 | 192 | 223,987,467 | — | $1.0B |
| 2022-Q2 | 184 | 229,228,128 | — | $983M |
| 2022-Q1 | 173 | 234,652,531 | — | $1.5B |
| 2021-Q4 | 161 | 236,360,714 | — | $1.2B |
| 2021-Q3 | 149 | 245,092,263 | — | $1.2B |
| 2021-Q2 | 170 | 271,803,428 | — | $1.6B |
| 2021-Q1 | 143 | 255,887,458 | — | $1.4B |
| 2020-Q4 | 153 | 259,367,094 | — | $1.2B |
| 2020-Q3 | 128 | 263,148,115 | — | $969M |
| 2020-Q2 | 122 | 258,569,395 | — | $764M |
| 2020-Q1 | 129 | 255,663,833 | — | $488M |
| 2019-Q4 | 127 | 235,957,641 | — | $1.2B |
| 2019-Q3 | 132 | 238,732,565 | — | $752M |
| 2019-Q2 | 132 | 233,846,463 | — | $909M |
| 2019-Q1 | 138 | 229,425,412 | — | $889M |
| 2018-Q4 | 140 | 220,126,239 | — | $829M |
| 2018-Q3 | 139 | 194,585,425 | — | $819M |
| 2018-Q2 | 143 | 181,398,719 | — | $642M |
| 2018-Q1 | 139 | 204,717,359 | — | $954M |
| 2017-Q4 | 139 | 185,657,005 | — | $691M |
| 2017-Q3 | 137 | 197,583,602 | — | $677M |
| 2017-Q2 | 138 | 204,281,752 | — | $623M |
| 2017-Q1 | 125 | 199,479,384 | — | $688M |
| 2016-Q4 | 138 | 210,222,154 | — | $661M |
| 2016-Q3 | 131 | 196,193,256 | — | $534M |
| 2016-Q2 | 129 | 203,605,687 | — | $370M |
| 2016-Q1 | 118 | 199,101,725 | — | $349M |
| 2015-Q4 | 125 | 243,475,572 | — | $292M |
| 2015-Q3 | 131 | 254,983,195 | — | $344M |
| 2015-Q2 | 142 | 249,782,309 | — | $602M |
| 2015-Q1 | 145 | 227,723,556 | — | $728M |
| 2014-Q4 | 151 | 206,646,302 | — | $773M |
| 2014-Q3 | 148 | 230,419,844 | — | $1.1B |
| 2014-Q2 | 151 | 214,096,189 | — | $1.3B |
| 2014-Q1 | 165 | 219,246,267 | — | $1.4B |
| 2013-Q4 | 171 | 212,101,334 | — | $1.7B |
| 2013-Q3 | 149 | 208,310,839 | — | $1.6B |
| 2013-Q2 | 126 | 199,986,833 | — | $1.1B |
| 2013-Q1 | 13 | 10,502,198 | — | $81M |
