Banco Bradesco-ADRBBD
13F holders, Q1 2025 (March 31)247holders +18
45new positions
26sold out
7famous investors
$2.23avg. 13F price*
At the end of Q1 2025, 247 institutions reported holding Banco Bradesco-ADR (BBD) in their 13F filings, up 18 from Q4 2024. 45 opened new positions and 26 sold out. The largest holders were ARGA Investment Management, LP ($282.6M), Massachusetts Financial Services Co. ($231.4M) and Fisher Asset Management ($165.9M). 7 famous investors held it, including Ken Fisher (0.1% of Fisher Asset Management's portfolio), David E. Shaw (0.1% of D. E. Shaw & Co.'s portfolio) and Jim Simons / Peter Brown (0.0% of Renaissance Technologies's portfolio).
- Company
- Banco Bradesco-ADR
- CUSIP
- 059460303
- Latest filing quarter
- Q2 2026
History
Number of 13F holders
Total Exit/New Position Q4 2024 → Q1 2025
| Institutions | Total Value | |
|---|---|---|
| New Positions | 45 | $96.7M |
| Exits | 26 | $90.0M |
All 13F filers, Q4 2024 → Q1 2025: 212,705,532 shares bought and 128,831,913 shares sold, net +83,873,619 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.
Ownership 247 holders
| ARGA Investment Management, LP | 9.46% | Add +53.0% | 126,724,278 | $282.6M |
| Massachusetts Financial Services Co. | 0.08% | Add +3.5% | 103,749,417 | $231.4M |
| Fisher Asset Management | 0.07% | Reduce -1.9% | 74,416,420 | $165.9M |
| Wellington Management Group LLP | 0.03% | Add +22.7% | 69,682,931 | $155.4M |
| Arrowstreet Capital, Limited Partnership | 0.11% | Add +24.1% | 63,063,469 | $140.6M |
| Two Sigma Advisers, LP | 0.24% | Add +213.6% | 48,028,620 | $107.1M |
| Franklin Resources Inc. | 0.03% | Add +3.2% | 47,291,432 | $105.5M |
| Goldman Sachs Group Inc. | 0.01% | Add +116.9% | 33,132,112 | $73.9M |
| BlackRock, Inc. | 0.00% | Reduce -1.1% | 29,927,523 | $66.7M |
| Two Sigma Investments, LP | 0.15% | Add +160.5% | 29,902,447 | $66.7M |
| Baillie Gifford & Co. | 0.06% | Reduce -2.8% | 29,880,816 | $66.6M |
| Itau Unibanco Holding S.A. | 2.19% | Reduce -20.7% | 26,266,116 | $56.6M |
| Earnest Partners LLC | 0.23% | Add +2.5% | 21,864,348 | $48.8M |
| Marshall Wace, LLP | 0.06% | Reduce -25.9% | 20,564,759 | $45.9M |
| D. E. Shaw & Co. | 0.06% | New | 20,311,259 | $45.3M |
| Macquarie Group Ltd. | 0.05% | Reduce 0.0% | 19,409,679 | $43.3M |
| State Street Corp. | 0.00% | Add +0.9% | 17,078,924 | $39.3M |
| Doma Perpetual Capital Management LLC | 12.78% | No change | 14,580,430 | $32.5M |
| Renaissance Technologies | 0.05% | Add +22.3% | 14,500,895 | $32.3M |
| Vanguard Group Inc. | 0.00% | Reduce -1.6% | 13,743,845 | $30.6M |
| Sei Investments Co. | 0.04% | Add +13.8% | 12,987,314 | $29.0M |
| Moerus Capital Management LLC | 12.24% | New | 12,274,580 | $27.4M |
| Natixis Advisors, LLC | 0.04% | Add +148.2% | 9,331,197 | $20.8M |
| Public Employees Retirement System of Ohio | 0.07% | Add +33.4% | 9,148,494 | $20.4M |
| Aberdeen Group plc | 0.04% | No change | 8,651,500 | $19.3M |
| Russell Investments Group, Ltd. | 0.03% | Reduce -19.3% | 8,299,573 | $18.5M |
| Allspring Global Investments Holdings, LLC | 0.03% | Reduce -4.7% | 7,954,282 | $17.9M |
| Algebris (uk) Ltd. | 2.92% | Reduce -3.4% | 7,392,446 | $15.3M |
| Millennium Management | 0.02% | Add +28.4% | 6,834,192 | $15.2M |
| New York State Common Retirement Fund | 0.02% | Add +66.9% | 6,569,176 | $14.6M |
| Amundi | 0.01% | Reduce -7.1% | 6,280,762 | $14.4M |
| American Century Companies Inc. | 0.01% | Add +6.4% | 5,865,375 | $13.1M |
| Aquatic Capital Management LLC | 0.31% | New | 5,429,108 | $12.1M |
| Morgan Stanley | 0.00% | Add +26.0% | 5,380,212 | $12.0M |
| Sagil Capital LLP | 10.32% | Reduce -38.3% | 5,323,265 | $11.9M |
| Bessemer Group Inc. | 0.02% | Add +14.3% | 5,052,355 | $11.3M |
| AQR Capital Management | 0.01% | Add +75.9% | 5,048,938 | $11.3M |
| Northern Trust Corp. | 0.00% | Add +14.2% | 4,701,855 | $10.5M |
| Bank of America Corp. | 0.00% | Reduce -17.0% | 4,453,291 | $9.9M |
| Legal & General Group Plc | 0.00% | Reduce -0.0% | 4,109,863 | $9.2M |
| Causeway Capital Management LLC | 0.17% | Reduce -90.1% | 3,598,612 | $8.0M |
| BNP Paribas Financial Markets | 0.01% | Reduce -56.1% | 3,159,247 | $7.0M |
| Robeco Institutional Asset Management B.V. | 0.01% | Reduce -4.2% | 2,905,021 | $6.5M |
| Schroder Investment Management Group | 0.01% | Add +9.2% | 2,472,880 | $5.6M |
| Dimensional Fund Advisors LP | 0.00% | Add +44.6% | 2,488,605 | $5.6M |
| HSBC Holdings PLC | 0.00% | Reduce -63.3% | 2,029,950 | $4.5M |
| Susquehanna International Group, LLP | 0.01% | Add +9.3% | 1,927,835 | $4.3M |
| Mackenzie Financial Corp. | 0.01% | New | 1,840,780 | $4.1M |
| Raymond James Financial Inc. | 0.00% | Add +6.9% | 1,803,157 | $4.0M |
| Walleye Capital LLC | 0.05% | Reduce -58.1% | 1,719,649 | $3.8M |
| UBS Group AG | 0.00% | Reduce -29.4% | 1,622,515 | $3.6M |
| Deutsche Bank AG | 0.00% | No change | 1,570,438 | $3.5M |
| Point72 Asset Management | 0.01% | New | 1,425,639 | $3.2M |
| LGT Fund Management Co Ltd. | 0.28% | No change | 1,364,814 | $3.0M |
| Quantbot Technologies LP | 0.09% | Add +116.7% | 1,238,707 | $2.8M |
| Jain Global LLC | 0.05% | Add +7.4% | 1,137,258 | $2.5M |
| Bank of New York Mellon Corp | 0.00% | Reduce -4.5% | 1,079,763 | $2.4M |
| Barclays PLC | 0.00% | Reduce -55.6% | 1,013,801 | $2.3M |
| Banco Santander, S.A. | 0.02% | Reduce -46.0% | 973,638 | $2.2M |
| Two Sigma Securities, LLC | 0.30% | Add +72.5% | 875,759 | $2.0M |
| STRS Ohio | 0.01% | Add +3.3% | 836,291 | $1.9M |
| Optiver Holding B.V. | 0.07% | Add +28.9% | 812,399 | $1.8M |
| Leonteq Securities AG | 0.13% | Reduce -31.0% | 787,973 | $1.8M |
| Envestnet Asset Management Inc. | 0.00% | Add +7.5% | 791,930 | $1.8M |
| JPMorgan Chase & Co. | 0.00% | Reduce -0.8% | 790,833 | $1.8M |
| Truffle Hound Capital, LLC | 1.07% | New | 750,000 | $1.7M |
| DekaBank Deutsche Girozentrale | 0.00% | No change | 743,420 | $1.6M |
| Longfellow Investment Management Co. LLC | 0.34% | Add +24.5% | 626,569 | $1.4M |
| Storebrand Asset Management As | 0.00% | Reduce -16.6% | 622,902 | $1.4M |
| Geode Capital Management, LLC | 0.00% | Reduce -43.9% | 590,434 | $1.3M |
| Euro Pacific Asset Management, LLC | 0.24% | No change | 582,384 | $1.3M |
| Monaco Asset Management SAM | 0.59% | Add +16.7% | 525,000 | $1.2M |
| HighVista Strategies LLC | 0.44% | Reduce -29.4% | 517,000 | $1.2M |
| BTG Pactual Asset Management US LLC | 0.14% | No change | 494,580 | $1.1M |
| Rhumbline Advisers | 0.00% | Reduce -6.3% | 478,446 | $1.1M |
| Wells Fargo & Company | 0.00% | Add +36.4% | 453,029 | $1.0M |
| Daiwa Securities Group Inc. | 0.00% | Add +217.3% | 423,435 | $944K |
| LPL Financial LLC | 0.00% | Add +0.1% | 412,565 | $920K |
| Pinebridge Investments, L.P. | 0.01% | Reduce -47.9% | 374,589 | $835K |
| Mariner, LLC | 0.00% | Add +34.2% | 332,028 | $740K |
| Graham Capital Management, L.P. | 0.03% | Add +4.3% | 300,397 | $670K |
| Vident Advisory, LLC | 0.01% | Add +355.7% | 296,708 | $662K |
| O'shaughnessy Asset Management, LLC | 0.00% | Add +100.6% | 276,070 | $616K |
| Mirae Asset Global Investments Co., Ltd. | 0.00% | Reduce -0.3% | 267,469 | $606K |
| Generali Investments CEE, investicni spolecnost, a.s. | 0.06% | No change | 265,618 | $592K |
| Crossmark Global Holdings, Inc. | 0.01% | Add +0.6% | 256,452 | $572K |
| Invesco Ltd. | 0.00% | Reduce -17.8% | 255,604 | $570K |
| Groupama Asset Managment | 0.01% | Reduce -20.9% | 250,882 | $570K |
| ABS Direct Equity Fund LLC | 0.75% | New | 252,500 | $563K |
| Profund Advisors LLC | 0.02% | Add +20.9% | 233,027 | $520K |
| Marex Group Ltd | 0.01% | Reduce -12.9% | 224,565 | $501K |
| PNC Financial Services Group, Inc. | 0.00% | Reduce -0.7% | 212,816 | $475K |
| Royal Bank of Canada | 0.00% | Reduce -32.2% | 207,140 | $462K |
| PEAK6 LLC | 0.02% | New | 206,600 | $461K |
| Legacy Wealth Asset Management, LLC | 0.12% | Add +48.4% | 191,831 | $428K |
| VPR Management LLC | 0.20% | No change | 187,900 | $419K |
| iA Global Asset Management Inc. | 0.01% | Add +1.1% | 175,503 | $391K |
| Ethic Inc. | 0.01% | Add +2.3% | 155,654 | $350K |
| Orion Porfolio Solutions, LLC | 0.00% | Add +13.7% | 149,494 | $333K |
| Orion Portfolio Solutions, LLC | 0.00% | Add +13.7% | 149,494 | $333K |
| Candriam S.C.A. | 0.00% | Add +20.8% | 142,331 | $317K |
| Bleakley Financial Group, LLC | 0.01% | Add +75.4% | 139,164 | $310K |
| Citigroup Inc. | 0.00% | Add +24.0% | 133,140 | $297K |
| Sumitomo Mitsui Trust Group, Inc. | 0.00% | Reduce -1.7% | 121,874 | $272K |
| Barometer Capital Management Inc. | 0.10% | New | 119,500 | $261K |
| Compound Planning, Inc. | 0.01% | Add +124.9% | 112,009 | $250K |
| Caitong International Asset Management Co., Ltd | 0.19% | Reduce -14.5% | 111,951 | $250K |
| Sava Infond d.o.o. | 0.05% | No change | 110,000 | $245K |
| Commerzbank Aktiengesellschaft | 0.01% | No change | 104,208 | $233K |
| Jane Street Group, LLC | 0.00% | Reduce -94.0% | 101,138 | $226K |
| Guggenheim Capital LLC | 0.00% | Add +144.0% | 98,812 | $220K |
| R Squared Ltd | 0.23% | Add +509.0% | 96,830 | $216K |
| M&T Bank Corp | 0.00% | Add +18.6% | 95,136 | $212K |
| SG Americas Securities, LLC | 0.00% | Add +160.6% | 92,801 | $207K |
| Prelude Capital Management, LLC | 0.02% | New | 92,000 | $205K |
| Capital Markets Trading UK LLP | 0.23% | New | 89,349 | $199K |
| Amova Asset Management Americas, Inc. | 0.00% | Reduce -2.4% | 85,474 | $191K |
| Yousif Capital Management, LLC | 0.00% | No change | 83,066 | $185K |
| AXA S.A. | 0.00% | No change | 80,114 | $179K |
| Net Worth Advisory Group | 0.05% | Reduce -1.9% | 75,456 | $168K |
| FMR LLC | 0.00% | Add +126.2% | 73,532 | $164K |
| Gould Asset Management LLC | 0.03% | No change | 70,811 | $158K |
| Inspire Advisors, LLC | 0.02% | Add +14.5% | 67,833 | $151K |
| Flow Traders U.S. LLC | 0.01% | Add +94.9% | 67,885 | $151K |
| Cibc World Market Inc. | 0.00% | Reduce -47.8% | 64,795 | $144K |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 0.00% | Reduce -4.7% | 64,317 | $143K |
| B. Metzler seel. Sohn & Co. AG | 0.00% | Reduce -90.3% | 63,377 | $141K |
| First Affirmative Financial Network | 0.08% | Add +36.1% | 61,581 | $137K |
| Headlands Technologies LLC | 0.02% | New | 60,936 | $136K |
| Provida Pension Fund Administrator | 0.00% | No change | 60,309 | $134K |
| Stifel Financial Corp. | 0.00% | Add +193.3% | 59,564 | $133K |
| Cerity Partners LLC | 0.00% | New | 58,036 | $129K |
| Creative Planning | 0.00% | Reduce -30.2% | 56,677 | $126K |
| Oppenheimer Asset Management Inc. | 0.00% | Reduce -55.1% | 55,560 | $124K |
| Blue Trust, Inc. | 0.00% | Add +48.5% | 54,486 | $122K |
| Sequoia Financial Advisors, LLC | 0.00% | Add +263.5% | 49,906 | $111K |
| Samalin Investment Counsel, LLC | 0.04% | Add +8.8% | 49,500 | $110K |
| Qtron Investments LLC | 0.02% | No change | 48,650 | $108K |
| Perpetual Ltd | 0.00% | No change | 47,383 | $106K |
| Pathstone Holdings, LLC | 0.00% | Reduce -88.7% | 45,931 | $103K |
| Rehmann Capital Advisory Group | 0.01% | Add +273.3% | 44,179 | $99K |
| Wealth Enhancement Advisory Services, LLC | 0.00% | Reduce -22.7% | 42,388 | $95K |
| Corient Private Wealth LP | 0.00% | New | 38,623 | $86K |
| Eagle Bay Advisors LLC | 0.07% | Add +35.0% | 37,000 | $85K |
| Schonfeld Strategic Advisors LLC | 0.00% | New | 37,563 | $84K |
| DAVENPORT & Co LLC | 0.00% | Add +4.2% | 36,035 | $80K |
| Farringdon Capital, Ltd. | 0.04% | New | 34,627 | $77K |
| Metis Global Partners, LLC | 0.00% | Add +8.5% | 32,765 | $73K |
| Wolverine Trading, LLC | 0.00% | Reduce -74.2% | 31,677 | $72K |
| QRG Capital Management, Inc. | 0.00% | Reduce -13.3% | 29,979 | $67K |
| Aigen Investment Management, LP | 0.01% | Reduce -56.7% | 29,873 | $67K |
| Mgo One Seven LLC | 0.00% | New | 29,576 | $66K |
| Advisors Preferred, LLC | 0.01% | New | 29,245 | $66K |
| MML Investors Services, LLC | 0.00% | Reduce -9.3% | 28,999 | $65K |
| PDS Planning, Inc | 0.01% | Add +48.1% | 28,765 | $64K |
| GeoWealth Management, LLC | 0.00% | Reduce -50.5% | 25,270 | $56K |
| Sterling Capital Management LLC | 0.00% | Reduce -58.4% | 25,017 | $56K |
| Genus Capital Management Inc. | 0.01% | — | 24,655 | $55K |
| Riversedge Advisors, LLC | 0.01% | New | 24,584 | $55K |
| Silvercrest Asset Management Group LLC | 0.00% | No change | 24,290 | $54K |
| Inspire Investing, LLC | 0.01% | Add +121.0% | 23,919 | $53K |
| HighTower Advisors, LLC | 0.00% | Reduce -6.5% | 23,672 | $53K |
| State of Wyoming | 0.01% | Reduce -1.2% | 23,546 | $53K |
| Vestmark Advisory Solutions, Inc. | 0.00% | Reduce -15.7% | 23,332 | $52K |
| Balyasny Asset Management L.P. | 0.00% | New | 22,706 | $51K |
| Insigneo Advisory Services, LLC | 0.01% | No change | 22,120 | $49K |
| Quattro Financial Advisors LLC | 0.02% | No change | 22,000 | $49K |
| Traveka Wealth, LLC | 0.03% | Add +29.9% | 21,333 | $48K |
| Integrated Wealth Concepts LLC | 0.00% | Reduce -12.3% | 21,102 | $47K |
| West Family Investments, Inc. | 0.02% | Reduce -59.6% | 20,827 | $46K |
| Private Advisor Group, LLC | 0.00% | New | 20,512 | $46K |
| Ameliora Wealth Management Ltd. | 0.02% | New | 20,000 | $45K |
| Citadel Advisors | 0.00% | Reduce -99.4% | 19,906 | $44K |
| Sigma Planning Corp | 0.00% | New | 19,463 | $43K |
| Tuttle Capital Management, LLC | 0.19% | Add +26.1% | 19,173 | $43K |
| Sagespring Wealth Partners, LLC | 0.00% | New | 18,461 | $41K |
| Northwestern Mutual Wealth Management Co. | 0.00% | Reduce -0.5% | 16,665 | $37K |
| United Capital Financial Advisors, LLC | 0.00% | Reduce -10.2% | 16,440 | $37K |
| Merit Financial Group, LLC | 0.00% | New | 16,433 | $37K |
| Caprock Group, LLC | 0.00% | Reduce -48.2% | 15,112 | $36K |
| Snowden Capital Advisors LLC | 0.00% | No change | 15,000 | $35K |
| US Bancorp \de | 0.00% | Reduce -26.6% | 15,366 | $34K |
| Vontobel Holding Ltd. | 0.00% | Reduce -99.5% | 15,136 | $34K |
| Centiva Capital, LP | 0.00% | New | 15,111 | $34K |
| IPG Investment Advisors LLC | 0.01% | No change | 13,576 | $31K |
| Jones Financial Companies LLLP | 0.00% | Add +1280.7% | 13,848 | $31K |
| Aviva PLC | 0.00% | No change | 14,068 | $31K |
| NorthCoast Asset Management LLC | 0.00% | Reduce -63.7% | 14,002 | $31K |
| Quadrant Capital Group LLC | 0.00% | Reduce -30.2% | 13,663 | $30K |
| Ballentine Partners, LLC | 0.00% | Reduce -35.3% | 13,299 | $30K |
| ZWJ Investment Counsel Inc. | 0.00% | No change | 13,200 | $29K |
| BSW Wealth Partners | 0.00% | New | 13,162 | $29K |
| GC Wealth Management RIA, LLC | 0.01% | Reduce -61.5% | 13,018 | $29K |
| Atria Investments, Inc | 0.00% | New | 12,829 | $29K |
| Osaic Holdings, Inc. | 0.00% | Add +98.0% | 12,560 | $28K |
| Cetera Investment Advisers | 0.00% | Add +22.6% | 12,395 | $28K |
| Grove Bank & Trust | 0.00% | Reduce -6.9% | 12,369 | $28K |
| Sprott Inc. | 0.00% | No change | 12,000 | $27K |
| Mercer Global Advisors Inc. | 0.00% | New | 11,847 | $26K |
| Simplicity Wealth,LLC | 0.00% | New | 11,731 | $26K |
| Dorsey & Whitney Trust CO LLC | 0.00% | New | 11,498 | $26K |
| HB Wealth Management, LLC | 0.00% | Reduce -6.0% | 11,469 | $26K |
| Aprio Wealth Management, LLC | 0.00% | New | 11,377 | $25K |
| Waverly Advisors, LLC | 0.00% | New | 11,335 | $25K |
| NewEdge Wealth, LLC | 0.00% | Reduce -59.5% | 11,209 | $25K |
| Pinnacle Wealth Planning Services, Inc. | 0.00% | New | 10,848 | $24K |
| Wealthspire Advisors, LLC | 0.00% | New | 10,493 | $23K |
| Summit Securities Group LLC | 0.01% | New | 9,120 | $20K |
| SPX Gestao de Recursos Ltda | 0.00% | New | 8,961 | $20K |
| Cwm, LLC | 0.00% | Add +186.1% | 8,705 | $19K |
| Credit Agricole S A | 0.00% | Reduce -99.1% | 6,930 | $15K |
| Coldstream Capital Management Inc. | 0.00% | New | 6,236 | $14K |
| Tower Research Capital LLC (TRC) | 0.00% | Reduce -95.0% | 5,778 | $13K |
| Geneos Wealth Management Inc. | 0.00% | Add +36.2% | 5,485 | $12K |
| Activest Wealth Management | 0.00% | Reduce -21.4% | 4,890 | $11K |
| EverSource Wealth Advisors, LLC | 0.00% | Add +1775.3% | 4,332 | $10K |
| GAMMA Investing LLC | 0.00% | Reduce -8.3% | 4,170 | $9K |
| Federation des caisses Desjardins du Quebec | 0.00% | No change | 3,458 | $8K |
| Highline Wealth Partners LLC | 0.00% | Add +543.2% | 3,441 | $8K |
| Thompson Investment Management, Inc. | 0.00% | No change | 3,194 | $7K |
| Whipplewood Advisors, LLC | 0.00% | Reduce -42.7% | 2,194 | $7K |
| Paradigm Asset Management Co. LLC | 0.00% | No change | 2,200 | $5K |
| TD Private Client Wealth LLC | 0.00% | No change | 2,019 | $5K |
| GHP Investment Advisors, Inc. | 0.00% | New | 1,850 | $4K |
| WPG Advisers, LLC | 0.00% | Add +122.9% | 1,527 | $3K |
| Parkside Financial Bank & Trust | 0.00% | No change | 1,394 | $3K |
| Parallel Advisors, LLC | 0.00% | Reduce -62.0% | 1,183 | $3K |
| SVB Wealth LLC | 0.00% | New | 1,077 | $2K |
| Sierra Ocean, LLC | 0.00% | Add +87.3% | 985 | $2K |
| CIBC Private Wealth Group LLC | 0.00% | Add +83.3% | 1,063 | $2K |
| Vinland Capital Management Gestora de Recursos LTDA. | 0.04% | New | 680 | $2K |
| Hollencrest Capital Management | 0.00% | No change | 590 | $1K |
| Oakworth Capital, Inc. | 0.00% | New | 531 | $1K |
| Principal Securities, Inc. | 0.00% | No change | 590 | $1K |
| Investors Research Corp | 0.00% | No change | 334 | $745 |
| Raffa Wealth Management, LLC | 0.00% | No change | 231 | $515 |
| Cullen/Frost Bankers, Inc. | 0.00% | No change | 207 | $462 |
| Brooklyn Investment Group | 0.00% | New | 200 | $446 |
| Farther Finance Advisors, LLC | 0.00% | No change | 125 | $281 |
| Carolinas Wealth Consulting LLC | 0.00% | Reduce -55.4% | 121 | $270 |
| Creative Financial Designs Inc. | 0.00% | New | 112 | $250 |
| Binnacle Investments Inc | 0.00% | — | 100 | $223 |
| Abound Wealth Management | 0.00% | Reduce -47.6% | 87 | $195 |
| High Note Wealth, LLC | 0.00% | New | 82 | $183 |
| Signaturefd, LLC | 0.00% | Reduce -99.5% | 19 | $42 |
| Lindbrook Capital, LLC | 0.00% | Reduce -99.6% | 2 | $4 |
| Huntington National Bank | 0.00% | No change | 1 | $2 |
"% of holder's portfolio" is BBD's weight in each manager's 13F, not the share of Banco Bradesco-ADR the manager owns.