CONTRARIAN CAPITAL MANAGEMENT, L.L.C.: GERDAU SA (GGB): Quarterly 13F Position History
As of Q1 2026, CONTRARIAN CAPITAL MANAGEMENT, L.L.C. reported 19,069,112 shares of GERDAU SA (GGB), worth $68.8M and representing 19.3% of its 13F equity book. The position first appeared in Q2 2016 and has been disclosed across 40 13F-HR filings in Pactolio's tracked window.
- 19,069,112Shares Held (Latest Filing)
- $68.8MReported Market Value (Latest Filing)
- 19.3%Portfolio Weight (% of 13F Equity Book)
- 0Quarter-over-Quarter Share Change
- -$1.5MQuarter-over-Quarter Value Change
- 23,419,750Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 40 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 19,069,112 | 0 | — | $68.8M | 19.3% | $3.6 |
| Q4 2025 | 19,069,112 | 0 | — | $70.4M | 18.5% | $3.7 |
| Q3 2025 | 19,069,112 | 0 | — | $59.1M | 14.9% | $3.1 |
| Q2 2025 | 19,069,112 | 150,000 | -0.8% | $55.7M | 15.9% | $2.9 |
| Q1 2025 | 19,219,112 | 0 | — | $54.6M | 14.0% | $2.8 |
| Q4 2024 | 19,219,112 | 1,057,828 | -5.2% | $55.4M | 18.7% | $2.9 |
| Q3 2024 | 20,276,940 | 0 | — | $71.0M | 21.6% | $3.5 |
| Q2 2024 | 20,276,940 | +2,296,361 | +12.8% | $66.9M | 21.0% | $3.3 |
| Q1 2024 | 17,980,579 | 259,706 | -1.4% | $79.5M | 21.7% | $4.4 |
| Q4 2023 | 18,240,285 | +547,234 | +3.1% | $88.5M | 21.5% | $4.8 |
| Q3 2023 | 17,693,051 | 285,500 | -1.6% | $84.4M | 22.6% | $4.8 |
| Q2 2023 | 17,978,551 | 0 | — | $93.8M | 25.3% | $5.2 |
| Q1 2023 | 17,978,551 | 575,062 | -3.1% | $88.6M | 22.9% | $4.9 |
| Q4 2022 | 18,553,613 | 948,830 | -4.9% | $102.8M | 25.5% | $5.5 |
| Q3 2022 | 19,502,443 | 2,405,828 | -11.0% | $88.2M | 20.2% | $4.5 |
| Q2 2022 | 21,908,271 | 622,951 | -2.8% | $94.0M | 17.3% | $4.3 |
| Q1 2022 | 22,531,222 | 607,629 | -2.6% | $144.9M | 19.4% | $6.4 |
| Q4 2021 | 23,138,851 | +32,364 | +0.1% | $113.8M | 19.7% | $4.9 |
| Q3 2021 | 23,106,487 | +2,458,611 | +11.9% | $113.7M | 20.3% | $4.9 |
| Q2 2021 | 20,647,876 | +791,238 | +4.0% | $121.8M | 18.0% | $5.9 |
| Q1 2021 | 19,856,638 | 391,201 | -1.9% | $106.0M | 22.3% | $5.3 |
| Q4 2020 | 20,247,839 | 416,908 | -2.0% | $94.6M | 27.6% | $4.7 |
| Q3 2020 | 20,664,747 | 480,678 | -2.3% | $76.5M | 32.6% | $3.7 |
| Q2 2020 | 21,145,425 | 0 | — | $62.6M | 22.0% | $3.0 |
| Q1 2020 | 21,145,425 | 2,274,325 | -9.7% | $40.4M | 21.2% | $1.9 |
| Q4 2019 | 23,419,750 | +2,142,732 | +10.1% | $114.8M | 14.1% | $4.9 |
| Q3 2019 | 21,277,018 | 70,569 | -0.3% | $67.0M | 8.5% | $3.1 |
| Q2 2019 | 21,347,587 | +1,579,575 | +8.0% | $83.0M | 8.2% | $3.9 |
| Q1 2019 | 19,768,012 | +3,700,000 | +23.0% | $76.7M | 7.1% | $3.9 |
| Q4 2018 | 16,068,012 | +680,238 | +4.4% | $60.4M | 5.8% | $3.8 |
| Q3 2018 | 15,387,774 | +3,875,243 | +33.7% | $64.8M | 5.9% | $4.2 |
| Q2 2018 | 11,512,531 | +1,358,558 | +13.4% | $40.8M | 3.9% | $3.5 |
| Q1 2018 | 10,153,973 | 0 | — | $47.3M | 4.6% | $4.7 |
| Q4 2017 | 10,153,973 | 600,045 | -5.6% | $37.8M | 3.8% | $3.7 |
| Q3 2017 | 10,754,018 | +439,698 | +4.3% | $36.9M | 4.9% | $3.4 |
| Q2 2017 | 10,314,320 | +3,192,696 | +44.8% | $31.5M | 6.1% | $3.0 |
| Q1 2017 | 7,121,624 | 3,480,600 | -32.8% | $24.6M | 6.8% | $3.5 |
| Q4 2016 | 10,602,224 | 134,300 | -1.3% | $33.3M | 8.6% | $3.1 |
| Q3 2016 | 10,736,524 | +7,516,524 | +233.4% | $29.2M | 14.2% | $2.7 |
| Q2 2016 | 3,220,000 | — | — | $5.9M | 4.1% | $1.8 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares — a quarter-end mark, not the manager's cost basis. See the full methodology document for the normalization rules.
When did CONTRARIAN CAPITAL MANAGEMENT, L.L.C. first disclose a GGB position in 13F-HR filings?
CONTRARIAN CAPITAL MANAGEMENT, L.L.C. first reported GERDAU SA (GGB) on its 13F-HR filing for the period ending 2016-06-30 (Q2 2016). The position has appeared on 40 reported quarters within Pactolio's tracked window.
What was CONTRARIAN CAPITAL MANAGEMENT, L.L.C.'s most recent quarter-over-quarter share-count change in GGB?
CONTRARIAN CAPITAL MANAGEMENT, L.L.C. held the same 19,069,112 shares of GGB between Q4 2025 and Q1 2026 — the reported share count was unchanged quarter-over-quarter.
Does the implied price-per-share represent CONTRARIAN CAPITAL MANAGEMENT, L.L.C.'s cost basis in GGB?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.