Gerdau SA - 예탁증서(보통주)
US ˙ NYSE ˙ US3737371050

SecurityGGB / Gerdau S.A. - Depositary Receipt (Common Stock)
InstitutionInvesco Ltd.
Latest Disclosed Ownership505,291 shares
Latest Disclosed Value $ 1,824,100
Invesco Ltd. reports 76.49% increase in ownership of GGB / Gerdau S.A. - Depositary Receipt (Common Stock)

On May 12, 2026 - Invesco Ltd. filed a 13F-HR form disclosing ownership of 505,291 shares of Gerdau S.A. - Depositary Receipt (Common Stock) (US:GGB) valued at $1,824,101 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 19, 2026 disclosing 286,302 shares of Gerdau S.A. - Depositary Receipt (Common Stock). This represents a change in shares of 76.49% during the quarter. The current value of the position is $2,379,921 USD.

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 GERDAU SPON ADR REP PFD 373737105 505,291 218,989 76.49 1,824 72.73 0.0000
2026-02-19 2025-12-31 13F GERDAU SPON ADR REP PFD 373737105 286,302 14,142 5.20 1,056 25.27 0.0002
2025-11-13 2025-09-30 13F GERDAU SPON ADR REP PFD 373737105 272,160 341 0.13 844 6.31 0.0001
2025-08-13 2025-06-30 13F GERDAU SPON ADR REP PFD 373737105 271,819 -9,067 -3.23 794 -0.50 0.0001
2025-05-12 2025-03-31 13F GERDAU SPON ADR REP PFD 373737105 280,886 8,574 3.15 798 1.66 0.0002
2025-02-13 2024-12-31 13F GERDAU SPON ADR REP PFD 373737105 272,312 -10,938 -3.86 784 -20.89 0.0001
2024-11-12 2024-09-30 13F GERDAU SPON ADR REP PFD 373737105 283,250 3,714 1.33 991 7.48 0.0002
2024-08-13 2024-06-30 13F GERDAU SPON ADR REP PFD 373737105 279,536 62,807 28.98 922 -3.66 0.0002
2024-05-14 2024-03-31 13F GERDAU SPON ADR REP PFD 373737105 216,729 20,874 10.66 958 0.84 0.0002
2024-02-13 2023-12-31 13F GERDAU SPON ADR REP PFD 373737105 195,855 -158,961 -44.80 950 -43.91 0.0002
2023-11-13 2023-09-30 13F GERDAU SPON ADR REP PFD 373737105 354,816 -28,035 -7.32 1,692 -15.32 0.0005
2023-08-11 2023-06-30 13F GERDAU SPON ADR REP PFD 373737105 382,851 -13,704 -3.46 1,998 2.20 0.0005
2023-05-12 2023-03-31 13F GERDAU SPON ADR REP PFD 373737105 396,555 36,473 10.13 1,955 -1.96 0.0005
2023-02-13 2022-12-31 13F GERDAU SPON ADR REP PFD 373737105 360,082 -15,078 -4.02 1,995 17.57 0.0006
2022-11-14 2022-09-30 13F GERDAU SPON ADR REP PFD 373737105 375,160 56,184 17.61 1,696 23.98 0.0005
2022-08-15 2022-06-30 13F GERDAU SPON ADR REP PFD 373737105 318,976 -93,257 -22.62 1,368 -48.40 0.0004
2022-05-16 2022-03-31 13F GERDAU SPON ADR REP PFD 373737105 412,233 -22,077 -5.08 2,651 24.05 0.0007
2022-02-14 2021-12-31 13F GERDAU SPON ADR REP PFD 373737105 434,310 80,110 22.62 2,137 22.68 0.0005
2021-11-15 2021-09-30 13F GERDAU SPON ADR REP PFD 373737105 354,200 256,002 260.70 1,742 200.86 0.0004
2021-08-17 2021-06-30 13F GERDAU SPON ADR REP PFD 373737105 98,198 28,456 40.80 579 55.65 0.0001
2021-05-17 2021-03-31 13F GERDAU SPON ADR REP PFD 373737105 69,742 54,840 368.00 372 431.43 0.0001
2021-02-16 2020-12-31 13F GERDAU SPON ADR REP PFD 373737105 14,902 -206,547 -93.27 70 -91.45 0.0000
2020-11-16 2020-09-30 13F GERDAU SPON ADR REP PFD 373737105 221,449 221,449 819 0.0003
2020-05-15 2020-03-31 13F GERDAU S A SPON ADR REP PFD 373737105 0 -65,333 -100.00 0 -100.00
2020-02-14 2019-12-31 13F GERDAU S A SPON ADR REP PFD 373737105 65,333 -5,440 -7.69 320 43.50 0.0001
2019-11-14 2019-09-30 13F GERDAU S A SPON ADR REP PFD 373737105 70,773 -1,789 -2.47 223 -20.92 0.0001
2019-08-14 2019-06-30 13F/A-1 GERDAU S A SPON ADR REP PFD 373737105 72,562 -11,294 -13.47 282 -13.23 0.0001
2019-08-14 2019-06-30 13F GERDAU S A SPON ADR REP PFD 373737105 72,562 -11,294 282
2019-05-15 2019-03-31 13F GERDAU S A SPON ADR REP PFD 373737105 83,856 -81,706 -49.35 325 -47.83 0.0001
2019-02-14 2018-12-31 13F GERDAU S A SPON ADR REP PFD 373737105 165,562 -24,026 -12.67 623 -21.93 0.0002
2018-11-14 2018-09-30 13F GERDAU S A SPON ADR REP PFD 373737105 189,588 -10,273 -5.14 798 12.71 0.0003
2018-08-14 2018-06-30 13F GERDAU S A SPON ADR REP PFD 373737105 199,861 111,234 125.51 708 71.43 0.0002
2018-05-15 2018-03-31 13F GERDAU S A SPON ADR REP PFD 373737105 88,627 -15,573 -14.95 413 6.44 0.0002
2018-02-14 2017-12-31 13F GERDAU S A SPON ADR REP PFD 373737105 104,200 -4,765 -4.37 388 3.74 0.0001
2017-11-14 2017-09-30 13F GERDAU S A SPON ADR REP PFD 373737105 108,965 8,952 8.95 374 22.62 0.0001
2017-08-14 2017-06-30 13F GERDAU S A SPON ADR REP PFD 373737105 100,013 -10,787 -9.74 305 -20.16 0.0001
2017-05-15 2017-03-31 13F GERDAU S A SPON ADR REP PFD 373737105 110,800 466 0.42 382 10.40 0.0001
2017-02-14 2016-12-31 13F GERDAU S A SPON ADR REP PFD 373737105 110,334 -4,717 -4.10 346 10.54 0.0001
2016-11-14 2016-09-30 13F GERDAU S A SPON ADR REP PFD 373737105 115,051 -23,070 -16.70 313 24.70 0.0001
2016-08-15 2016-06-30 13F GERDAU S A SPON ADR REP PFD 373737105 138,121 1,394 1.02 251 3.29 0.0001
2016-05-16 2016-03-31 13F GERDAU S A SPON ADR REP PFD 373737105 136,727 -20,848 -13.23 243 28.57 0.0001
2016-02-16 2015-12-31 13F GERDAU S A SPON ADR REP PFD 373737105 157,575 -29,268 -15.66 189 -26.17 0.0001
2015-11-16 2015-09-30 13F GERDAU S A SPON ADR REP PFD 373737105 186,843 1,120 0.60 256 -42.86 0.0001
2015-08-14 2015-06-30 13F GERDAU SA ADR COMMON 373737105 185,723 132,916 251.70 448 165.09 0.0002
2015-05-15 2015-03-31 13F GERDAU SA ADR COMMON 373737105 52,807 -3,638 -6.45 169 -15.50 0.0001
2015-02-13 2014-12-31 13F GERDAU SA ADR COMMON 373737105 56,445 -261 -0.46 200 -26.47 0.0001
2014-11-14 2014-09-30 13F GERDAU SA ADR COMMON 373737105 56,706 -5,078 -8.22 272 -25.27 0.0001
2014-08-14 2014-06-30 13F GERDAU SA ADR COMMON 373737105 61,784 -228,560 -78.72 364 -80.44 0.0001
2014-05-15 2014-03-31 13F GERDAU SA ADR COMMON 373737105 290,344 -62,465 -17.71 1,861 -32.72 0.0008
2014-02-13 2013-12-31 13F GERDAU SA ADR COMMON 373737105 352,809 -71,465 -16.84 2,766 -12.61 0.0011
2013-11-13 2013-09-30 13F GERDAU SA ADR COMMON 373737105 424,274 -21,062 -4.73 3,165 24.51 0.0014
2013-08-14 2013-06-30 13F GERDAU SA ADR COMMON 373737105 445,336 445,336 2,542 0.0012
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.