SCHEDULE: FMR LLC & Abigail Johnson Update Gerdau SA Stake
Beneficial Ownership Amendment
FMR LLC and Abigail P. Johnson filed an Amendment No. 4 to Schedule 13G, disclosing a 6.7% beneficial ownership in Gerdau SA's Preferred Shares as of September 30, 2025.
Summary
- FMR LLC and Abigail P. Johnson filed an Amendment No. 4 to Schedule 13G concerning their beneficial ownership of Preferred Shares of Gerdau SA.
- As of September 30, 2025, the aggregate amount beneficially owned by FMR LLC and Abigail P. Johnson is 87,291,406.02 shares.
- This ownership represents 6.7% of the total outstanding class of Gerdau SA's Preferred Shares.
- FMR LLC holds sole voting power over 87,076,603.00 shares and sole dispositive power over 87,291,406.02 shares.
- Abigail P. Johnson, in her capacity as a Director, Chairman, and Chief Executive Officer of FMR LLC, is deemed to beneficially own the same aggregate amount of shares.
- The filing classifies FMR LLC as a parent holding company and Abigail P. Johnson as an individual investor.
- Subsidiaries of FMR LLC, including FIAM LLC, Fidelity Institutional Asset Management Trust Company, Fidelity Management & Research Company LLC, and Strategic Advisers LLC, are identified as entities beneficially owning shares.
Sentiment
Score: 5
Explanation: The filing is a routine disclosure of beneficial ownership and does not contain information that would inherently suggest a positive or negative sentiment regarding the issuer's performance or prospects.
Positives
- NA
Negatives
- NA
Risks
- NA
Future Outlook
NA
Management Comments
- NA
Industry Context
This filing indicates continued significant institutional investment by FMR LLC and its affiliates in Gerdau SA, a major player in the global steel industry, particularly prominent in Brazil. Such substantial holdings by a large asset manager like FMR LLC can signal long-term confidence in the company's prospects or its sector, although a Schedule 13G itself does not provide rationale for the investment.
Comparison to Industry Standards
- NA
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Ownership Disclosure | FMR LLC, as a parent holding company, and Abigail P. Johnson, as an individual, are reporting their beneficial ownership in Gerdau SA Preferred Shares, adhering to SEC Rule 13d-1(b)(1)(ii)(G) and 13d-1(c) respectively. | 2025-09-30 | This disclosure provides transparency regarding significant institutional ownership, which is a core aspect of corporate governance, ensuring that large shareholders' positions are publicly known. |
Legal Proceedings
- NA
Related Party Transactions
- NA
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional investor's stake, which can influence market perception and potentially signal confidence or lack thereof.
- Management: Awareness of a large, active institutional shareholder like FMR LLC may influence strategic decisions, though the filing itself does not indicate any intent to influence control.
Next Steps
- NA
Key Dates
| Date | Description |
|---|---|
| 2025-09-30 | Date of event requiring the filing of this statement. |
| 2025-11-04 | Date of filing of this statement. |
Keywords
Gerdau SA, Preferred Shares, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Institutional Investor, Steel Industry, Brazil
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