Ambev S.A. - Depositary Receipt (Common Stock)
US ˙ NYSE ˙ US02319V1035

SecurityABEV / Ambev S.A. - Depositary Receipt (Common Stock)
InstitutionEthic Inc.
Latest Disclosed Ownership686,809 shares
Latest Disclosed Value $ 2,005,483
Ethic Inc. reports 4.95% decrease in ownership of ABEV / Ambev S.A. - Depositary Receipt (Common Stock)

On April 27, 2026 - Ethic Inc. filed a 13F-HR form disclosing ownership of 686,809 shares of Ambev S.A. - Depositary Receipt (Common Stock) (US:ABEV) valued at $2,005,482 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 3, 2026 disclosing 722,583 shares of Ambev S.A. - Depositary Receipt (Common Stock). This represents a change in shares of -4.95% during the quarter. The current value of the position is $2,135,976 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)
2026-04-27 2026-03-31 13F AMBEV SA SP ADR SPONSORED ADR 02319V103 686,809 -35,774 -4.95 2,005 12.39 0.0305
2026-02-03 2025-12-31 13F AMBEV SA SP ADR SPONSORED ADR 02319V103 722,583 32,273 4.68 1,785 15.92 0.0274
2025-10-17 2025-09-30 13F AMBEV SA SP ADR ADR 02319V103 690,310 39,734 6.11 1,539 0.26 0.0253
2025-07-30 2025-06-30 13F AMBEV SA SP ADR ADR 02319V103 650,576 51,594 8.61 1,535 9.56 0.0275
2025-05-13 2025-03-31 13F AMBEV SA SP ADR ADR 02319V103 598,982 547,323 1,059.49 1,402 1,374.74 0.0284
2025-02-14 2024-12-31 13F AMBEV SA SP ADR ADR 02319V103 51,659 22,925 79.78 96 33.80 0.0019
2024-11-13 2024-09-30 13F AMBEV SPONSORED ADR 02319V103 28,734 -8,951 -23.75 71 -7.79 0.0018
2024-08-13 2024-06-30 13F AMBEV SPONSORED ADR 02319V103 37,685 8,951 31.15 77 8.45 0.0018
2024-05-13 2024-03-31 13F AMBEV SPONSORED ADR 02319V103 28,734 -4,268 -12.93 71 -22.83 0.0018
2024-02-14 2023-12-31 13F AMBEV SPONSORED ADR 02319V103 33,002 4,387 15.33 92 26.03 0.0027
2023-11-14 2023-09-30 13F AMBEV SPONSORED ADR 02319V103 28,615 10,145 54.93 74 25.86 0.0026
2023-08-14 2023-06-30 13F AMBEV SPONSORED ADR 02319V103 18,470 -3,377 -15.46 59 -4.92 0.0022
2023-05-12 2023-03-31 13F AMBEV SPONSORED ADR 02319V103 21,847 -14,168 -39.34 62 -37.11 0.0025
2023-02-14 2022-12-31 13F AMBEV SPONSORED ADR 02319V103 36,015 8,698 31.84 98 25.97 0.0053
2022-11-14 2022-09-30 13F AMBEV SPONSORED ADR 02319V103 27,317 2,005 7.92 77 20.31 0.0052
2022-08-10 2022-06-30 13F AMBEV SPONSORED ADR 02319V103 25,312 -6,480 -20.38 64 -37.86 0.0045
2022-05-16 2022-03-31 13F AMBEV SPONSORED ADR 02319V103 31,792 -2,548 -7.42 103 7.29 0.0071
2022-02-14 2021-12-31 13F AMBEV SPONSORED ADR 02319V103 34,340 -9,199 -21.13 96 -20.00 0.0074
2021-11-15 2021-09-30 13F AMBEV SPONSORED ADR 02319V103 43,539 16,927 63.61 120 30.43 0.0123
2021-08-10 2021-06-30 13F AMBEV SPONSORED ADR 02319V103 26,612 8,787 49.30 92 87.76 0.0112
2021-05-13 2021-03-31 13F AMBEV SPONSORED ADR 02319V103 17,825 2,810 18.71 49 6.52 0.0087
2021-02-10 2020-12-31 13F AMBEV SPONSORED ADR 02319V103 15,015 15,015 46 0.0122
2020-10-27 2020-09-30 13F AMBEV SPONSORED ADR 02319V103 0 -21,031 -100.00 0 -100.00
2020-08-12 2020-06-30 13F AMBEV SPONSORED ADR 02319V103 21,031 -1,870 -8.17 56 5.66 0.0319
2020-05-15 2020-03-31 13F AMBEV SPONSORED ADR 02319V103 22,901 9,594 72.10 53 -14.52 0.0442
2020-05-22 2019-12-31 13F/A-2 AMBEV SPONSORED ADR 02319V103 13,307 13,307 62 1.3031
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.