| PPLA Participations Ltd. | Institution | 504.602.859 | 17,64% | R$ 5,55B | 2026-05-25 |
| State of Minas Gerais, Brazil. | Institution | 487.562.874 | 17,04% | R$ 5,36B | 2026-05-25 |
| BlackRock, Inc. | Institution | 211.766.357 | 7,40% | R$ 2,33B | 2026-05-25 |
| BNDES Participações S.A. - BNDESPAR | Institution | 106.610.119 | 3,73% | R$ 1,17B | 2026-05-25 |
| Pzena Investment Management, Inc. | Institution | 96.319.950 | 3,37% | R$ 1,06B | 2026-05-25 |
| Vanguard Capital Management, LLC | Institution | 57.925.824 | 2,02% | R$ 637,18M | 2026-04-30 |
| State Street Global Advisors, Inc. | Institution | 18.791.814 | 0,66% | R$ 206,71M | 2026-03-31 |
| Boston Partners Global Investors, Inc. | Institution | 16.854.380 | 0,59% | R$ 185,40M | 2026-03-31 |
| Geode Capital Management, LLC | Institution | 16.780.314 | 0,59% | R$ 184,58M | 2026-03-31 |
| Dimensional Fund Advisors LP | Institution | 16.591.405 | 0,58% | R$ 182,51M | 2026-04-30 |
| Vanguard Fiduciary Trust Company | Institution | 14.378.382 | 0,50% | R$ 158,16M | 2026-04-30 |
| Nordea Investment Management, AB | Institution | 12.397.239 | 0,43% | R$ 136,37M | 2025-06-30 |
| BB Gestão de Recursos - Distribuidora de Títulos e Valores Mobiliários S.A. | Institution | 12.085.310 | 0,42% | R$ 132,94M | 2025-11-30 |
| Charles Schwab Investment Management, Inc. | Institution | 11.797.865 | 0,41% | R$ 129,78M | 2026-04-30 |
| Columbia Management Investment Advisers, LLC | Institution | 11.047.599 | 0,39% | R$ 121,52M | 2026-03-31 |
| Mirae Asset Global Investments Co., Ltd. | Institution | 9.775.905 | 0,34% | R$ 107,53M | 2026-05-01 |
| Grantham Mayo Van Otterloo & Co. LLC | Institution | 9.453.041 | 0,33% | R$ 103,98M | 2026-03-31 |
| TSP Capital Management Group, LLC | Institution | 9.123.551 | 0,32% | R$ 100,36M | 2026-03-31 |
| Vinci Equities Gestora de Recursos Ltda. | Institution | 9.057.752 | 0,32% | R$ 99,64M | 2025-11-30 |
| UBS Asset Management AG | Institution | 8.792.615 | 0,31% | R$ 96,72M | 2026-03-31 |
| SEI Investments Company | Institution | 8.455.725 | 0,30% | R$ 93,01M | 2026-04-30 |
| Renaissance Technologies LLC | Institution | 7.993.849 | 0,28% | R$ 87,93M | 2026-03-31 |
| The Goldman Sachs Group, Inc. | Institution | 7.638.819 | 0,27% | R$ 84,03M | 2026-03-31 |
| MD Private Investment Counsel | Institution | 7.624.921 | 0,27% | R$ 83,87M | 2025-12-31 |
| Itaú Unibanco Holding S.A. | Institution | 7.085.788 | 0,25% | R$ 77,94M | 2025-11-30 |
| Pacific Investment Management Company LLC | Institution | 6.935.567 | 0,24% | R$ 76,29M | 2025-12-31 |
| 1832 Asset Management L.P. | Institution | 6.913.990 | 0,24% | R$ 76,05M | 2025-12-31 |