GERDAU SA

Ticker: GGB CUSIP: 373737105 Class: ADR

Note: Option positions (PUT/CALL) are excluded.

InstitutionSharesValue ($000)
FMR LLC98,651,805$364,025
Capital International Investors27,415,434$101,163
DONALD SMITH & CO., INC.24,211,588$89,341
Aquamarine Financial (Cayman) Ltd19,526,171$72,052
CONTRARIAN CAPITAL MANAGEMENT, L.L.C.19,069,112$70,365
DIMENSIONAL FUND ADVISORS LP12,059,942$44,510
Itau Unibanco Holding S.A.8,744,732$32,295
CAUSEWAY CAPITAL MANAGEMENT LLC7,259,433$26,787
BlackRock, Inc.7,067,528$26,079
RENAISSANCE TECHNOLOGIES LLC6,211,324$22,920
CITADEL ADVISORS LLC6,067,900$22,391
MORGAN STANLEY5,802,585$21,412
AMERICAN CENTURY COMPANIES INC5,424,093$20,015
SPX Gestao de Recursos Ltda4,894,496$18,061
MACKENZIE FINANCIAL CORP4,117,253$15,286
TWO SIGMA INVESTMENTS, LP3,751,067$13,841
STATE STREET CORP3,531,028$13,029
MILLENNIUM MANAGEMENT LLC3,505,150$12,934
UBS Group AG3,034,398$11,197
GOLDMAN SACHS GROUP INC2,626,041$9,690
FIL Ltd2,544,394$9,389
Optiver Holding B.V.2,530,923$9,339
VANGUARD GROUP INC2,199,360$8,116
Point72 Asset Management, L.P.2,072,395$7,647
Jump Financial, LLC2,005,343$7,400
MARSHALL WACE, LLP1,882,450$6,946
D. E. Shaw & Co., Inc.1,615,446$5,961
Sagil Capital LLP1,567,825$5,785
Amundi1,359,223$5,016
MASSACHUSETTS FINANCIAL SERVICES CO /MA/1,327,066$4,897
JANE STREET GROUP, LLC1,251,423$4,618
Aquatic Capital Management LLC1,028,902$3,797
BNP Paribas Investment Partners S.A.1,024,392$4
NORTHERN TRUST CORP1,017,007$3,753
CAPITAL INTERNATIONAL SARL934,528$3,448
Russell Investments Group, Ltd.869,699$3,235
Legal & General Group Plc840,628$3,098
VAN ECK ASSOCIATES CORP833,545$3
HSBC HOLDINGS PLC822,772$3,036
Banque Cantonale Vaudoise800,000$2,952
Quadrature Capital Ltd784,361$2,894
Connor, Clark & Lunn Investment Management Ltd.719,207$2,654
ACADIAN ASSET MANAGEMENT LLC598,087$2
XTX Topco Ltd588,619$2,172
Grantham, Mayo, Van Otterloo & Co. LLC586,191$2,163
Virtus Family Office LLC574,870$2,121
Schonfeld Strategic Advisors LLC545,963$2,015
CAPITAL INTERNATIONAL LTD /CA/527,933$1,948
TWO SIGMA ADVISERS, LP525,580$1,939
GUGGENHEIM CAPITAL LLC406,644$1,501
Fisher Asset Management, LLC406,181$1,499
CI INVESTMENTS INC.317,443$1,171
SUSQUEHANNA INTERNATIONAL GROUP, LLP298,309$1,101
Ethic Inc.297,228$1,097
Invesco Ltd.286,302$1,056
COMMONWEALTH EQUITY SERVICES, LLC285,259$1,053
SEI INVESTMENTS CO282,193$1,041
AQR CAPITAL MANAGEMENT LLC272,723$1,006
Quantbot Technologies LP269,554$995
Creative Planning263,111$971
ARGA Investment Management, LP241,625$892
STRS OHIO221,039$816
Capital International, Inc./CA/210,637$777
Hartree Partners, LP210,000$775
NEUBERGER BERMAN GROUP LLC192,899$712
JPMORGAN CHASE & CO185,306$684
Toroso Investments, LLC150,552$556
GSA CAPITAL PARTNERS LLP140,640$1
UBS ASSET MANAGEMENT AMERICAS INC134,021$495
Vident Advisory, LLC133,851$494
Virtu Financial LLC119,006$0
CAPITAL GROUP INVESTMENT MANAGEMENT PTE. LTD.117,331$433
BANK OF AMERICA CORP /DE/115,043$425
Squarepoint Ops LLC105,813$390
CITIGROUP INC105,671$390
Integrated Wealth Concepts LLC104,415$385
TRUIST FINANCIAL CORP103,153$381
Daiwa Securities Group Inc.97,536$0
RBF Capital, LLC90,000$332
Stratos Wealth Partners, LTD.88,200$325
VPR Management LLC86,242$318
Robeco Institutional Asset Management B.V.80,595$297
BNP PARIBAS ARBITRAGE, SA75,751$280
Crossmark Global Holdings, Inc.74,784$276
Sequoia Financial Advisors, LLC72,343$267
Mirae Asset Global Investments Co., Ltd.70,202$259
FLOW TRADERS U.S. LLC65,056$0
Caprock Group, LLC58,540$216
LGT Group Foundation58,160$216
BSW Wealth Partners53,697$198
CoreCommodity Management, LLC48,408$179
Vanguard Personalized Indexing Management, LLC48,279$178
Engineers Gate Manager LP47,879$177
QUADRANT CAPITAL GROUP LLC46,894$173
Inspire Advisors, LLC45,249$167
Marex Group plc43,843$162
RHUMBLINE ADVISERS41,639$154
Pathstone Holdings, LLC41,401$153
Cambridge Investment Research Advisors, Inc.38,717$0
MONEY CONCEPTS CAPITAL CORP38,430$142
77 other institutions1,002,014$3,705
Total (177 institutions)315,339,020$1,153,009