Petróleo Brasileiro S.A. - Petrobras - Depositary Receipt (Common Stock)
BG ˙ BUL ˙ US71654V4086
SecurityBG:PJXA / Petróleo Brasileiro S.A. - Petrobras - Depositary Receipt (Common Stock)
InstitutionStifel Financial Corp
Latest Disclosed Ownership411,223 shares
Latest Disclosed Value $ 8,532,966
Stifel Financial Corp reports 65.76% increase in ownership of PJXA / Petróleo Brasileiro S.A. - Petrobras - Depositary Receipt (Common Stock)

On May 12, 2026 - Stifel Financial Corp filed a 13F-HR form disclosing ownership of 411,223 shares of Petróleo Brasileiro S.A. - Petrobras - Depositary Receipt (Common Stock) (BG:PJXA) valued at $8,532,966 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 248,079 shares of Petróleo Brasileiro S.A. - Petrobras - Depositary Receipt (Common Stock). This represents a change in shares of 65.76% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-12 2026-03-31 13F PETROLEO BRASILEIRO S A SPONSORED ADR 71654V408 411,223 163,144 65.76 8,533 190.30 0.0018
2026-02-13 2025-12-31 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 248,079 61,148 32.71 2,940 24.22 0.0026
2025-11-12 2025-09-30 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 186,931 3,546 1.93 2,367 3.14 0.0022
2025-08-14 2025-06-30 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 183,385 -5,229 -2.77 2,294 -15.16 0.0022
2025-05-14 2025-03-31 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 188,614 12,566 7.14 2,705 19.49 0.0029
2025-02-13 2024-12-31 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 176,048 -5,458 -3.01 2,264 -13.46 0.0024
2024-11-14 2024-09-30 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 181,506 -20,347 -10.08 2,615 -10.57 0.0027
2024-08-13 2024-06-30 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 201,853 -7,136 -3.41 2,925 -7.99 0.0033
2024-05-14 2024-03-31 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 208,989 88,152 72.95 3,179 64.75 0.0036
2024-02-12 2023-12-31 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 120,837 -5,344 -4.24 1,930 2.01 0.0024
2023-11-13 2023-09-30 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 126,181 -67,416 -34.82 1,891 -29.36 0.0027
2023-08-14 2023-06-30 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 193,597 -27,355 -12.38 2,677 16.19 0.0037
2023-05-12 2023-03-31 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 220,952 102,927 87.21 2,305 83.44 0.0033
2023-02-13 2022-12-31 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 118,025 -55,613 -32.03 1,257 -41.39 0.0019
2022-11-14 2022-09-30 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 173,638 10,142 6.20 2,143 12.20 0.0035
2022-08-15 2022-06-30 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 163,496 -6,694 -3.93 1,910 -24.18 0.0030
2022-05-13 2022-03-31 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 170,190 54,931 47.66 2,519 98.97 0.0034
2022-02-14 2021-12-31 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 115,259 15,265 15.27 1,266 22.44 0.0017
2021-11-15 2021-09-30 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 99,994 76,440 324.53 1,034 259.03 0.0015
2021-08-13 2021-06-30 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 23,554 23,554 288 0.0004
2020-05-14 2020-03-31 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 0 -15,034 -100.00 0 -100.00
2020-02-13 2019-12-31 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 15,034 893 6.31 239 16.59 0.0005
2019-11-19 2019-09-30 13F/A-1 PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 14,141 -3,147 -18.20 205 -24.07 0.0005
2019-11-13 2019-09-30 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 14,141 -3,147 205 114.9128
2019-08-14 2019-06-30 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 17,288 3,592 26.23 270 23.29 0.0007
2019-05-14 2019-03-31 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 13,696 539 4.10 219 28.82 0.0006
2019-02-13 2018-12-31 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 13,157 13,157 -3.94 170 -22.37 0.0005
2017-05-10 2017-03-31 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 0 -53,319 -100.00 0 -100.00
2017-02-16 2016-12-31 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 53,319 42,000 371.06 539 408.49 0.0023
2016-11-15 2016-09-30 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 11,319 -1,752 -13.40 106 11.58 0.0005
2016-08-17 2016-06-30 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 13,071 -7,300 -35.84 95 -20.17 0.0004
2016-05-16 2016-03-31 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 20,371 -10,762 -34.57 119 -11.19 0.0006
2016-03-21 2015-12-31 13F/A-2 PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 31,133 13,880 80.45 134 78.67 0.0007
2016-02-26 2015-12-31 13F/A-1 PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 28,661 -2,472 123 0.0006
2016-02-16 2015-12-31 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 28,661 123
2015-11-16 2015-09-30 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 17,253 17,253 -44.58 75 -44.03 0.0004
2015-08-17 2015-06-30 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 0 -10,859 -100.00 0 -100.00
2015-05-14 2015-03-31 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 10,859 -19,958 -64.76 65 -71.11 0.0004
2015-02-13 2014-12-31 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 30,817 -22,862 -42.59 225 -70.47 0.0013
2014-11-13 2014-09-30 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 53,679 4,843 9.92 762 6.72 0.0067
2014-08-14 2014-06-30 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 48,836 4,392 9.88 714 22.26 0.0064
2014-05-15 2014-03-31 13F PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 44,444 44,444 584 0.0056
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.