Tower Research Capital LLC (TRC) historic quarter change: Foreign Preferred Shares, Reduced
In preferred shares (depositary receipts and foreign shares traded over the counter), over 23 quarters from 2013-06-30 to 2026-06-30, Tower Research Capital LLC (TRC) opened 38 positions, added to 79, reduced 68 and sold out of 45.
- Q2 2026: Stock BBD; Country of operation —; Class SP ADR PFD NEW; Shares before 34,405.
- Q1 2026: Stock BAK; Country of operation —; Class SP ADR PFD A; Shares before 878.
- Q4 2025: Stock ITUB; Country of operation —; Class SPON ADR REP PFD; Shares before 18,532.
- Q4 2025: Stock BAK; Country of operation —; Class SP ADR PFD A; Shares before 3,400.
Each consecutive pair of Form 13F-HR filings compared (SEC CIK 1533421), 23 quarters: Q2 2026 (2026-03-31 to 2026-06-30, filed 2026-08-11); Q1 2026 (2025-12-31 to 2026-03-31, filed 2026-05-15); Q4 2025 (2025-09-30 to 2025-12-31, filed 2026-02-17); Q3 2025 (2025-06-30 to 2025-09-30, filed 2025-11-14); Q2 2025 (2025-03-31 to 2025-06-30, filed 2025-08-15); Q1 2025 (2024-12-31 to 2025-03-31, filed 2025-05-15); Q4 2024 (2024-09-30 to 2024-12-31, filed 2025-02-13); Q3 2024 (2024-06-30 to 2024-09-30, filed 2024-11-14); Q2 2024 (2024-03-31 to 2024-06-30, filed 2024-08-13); Q1 2024 (2023-12-31 to 2024-03-31, filed 2024-05-15); Q3 2016 (2016-06-30 to 2016-09-30, filed 2016-11-08); Q2 2016 (2016-03-31 to 2016-06-30, filed 2016-08-10); Q1 2016 (2015-12-31 to 2016-03-31, filed 2016-05-16); Q4 2015 (2015-09-30 to 2015-12-31, filed 2016-02-10); Q3 2015 (2015-06-30 to 2015-09-30, filed 2015-11-13); Q2 2015 (2015-03-31 to 2015-06-30, filed 2015-07-30); Q1 2015 (2014-12-31 to 2015-03-31, filed 2015-05-12); Q4 2014 (2014-09-30 to 2014-12-31, filed 2015-02-05); Q3 2014 (2014-06-30 to 2014-09-30, filed 2014-10-31); Q2 2014 (2014-03-31 to 2014-06-30, filed 2014-08-14); Q1 2014 (2013-12-31 to 2014-03-31, filed 2014-05-02); Q4 2013 (2013-09-30 to 2013-12-31, filed 2014-01-31); Q3 2013 (2013-06-30 to 2013-09-30, filed 2013-11-06). Rows for the same security, class and put/call are added together. Value change is the filed value at each quarter end, so it includes the price move. Only the filings held here are compared; the firm's 13F-HR filings go back to the quarter ended 2012-12-31. Not compared, as a quarter between them is not held here yet: 2016-09-30 to 2023-12-31 (missing 2016-12-31, 2017-03-31, 2017-06-30, 2017-09-30, 2017-12-31, 2018-03-31, 2018-06-30, 2018-09-30, 2018-12-31, 2019-03-31, 2019-06-30, 2019-09-30, 2019-12-31, 2020-03-31, 2020-06-30, 2020-09-30, 2020-12-31, 2021-03-31, 2021-06-30, 2021-09-30, 2021-12-31, 2022-03-31, 2022-06-30, 2022-09-30, 2022-12-31, 2023-03-31, 2023-06-30, 2023-09-30).
| Quarter | Stock | Country of operation | Class | Shares before | Shares after | Share change | Value before | Value after | Value change | Filed |
|---|
| Q2 2026 | BBD
BANCO BRADESCO S A | | SP ADR PFD NEW | 34,405 | 348 | -34,057 | $125,579 | $1,208 | -$124,371 | 2026-08-11 |
|---|
| Q1 2026 | BAK
BRASKEM SA | | SP ADR PFD A | 878 | 175 | -703 | $2,590 | $640 | -$1,950 | 2026-05-15 |
|---|
| Q4 2025 | ITUB
ITAU UNIBANCO HLDG S A | | SPON ADR REP PFD | 18,532 | 10,320 | -8,212 | $136,025 | $73,891 | -$62,134 | 2026-02-17 |
|---|
| Q4 2025 | BAK
BRASKEM S A | | SP ADR PFD A | 3,400 | 878 | -2,522 | $8,228 | $2,590 | -$5,638 | 2026-02-17 |
|---|
| Q4 2025 | GGB
GERDAU SA | | SPON ADR REP PFD | 1,566 | 1,054 | -512 | $4,854 | $3,889 | -$965 | 2026-02-17 |
|---|
| Q3 2025 | BBD
BANCO BRADESCO S A | | SP ADR PFD NEW | 26,317 | 1,118 | -25,199 | $81,320 | $3,779 | -$77,541 | 2025-11-14 |
|---|
| Q3 2025 | ITUB
ITAU UNIBANCO HLDG S A | | SPON ADR REP PFD | 18,831 | 18,532 | -299 | $127,862 | $136,025 | +$8,163 | 2025-11-14 |
|---|
| Q2 2025 | GGB
GERDAU SA | | SPON ADR REP PFD | 5,312 | 1,286 | -4,026 | $15,086 | $3,755 | -$11,331 | 2025-08-15 |
|---|
| Q1 2025 | ITUB
ITAU UNIBANCO HLDG S A | | SPON ADR REP PFD | 56,518 | 9,135 | -47,383 | $280,329 | $50,243 | -$230,086 | 2025-05-15 |
|---|
| Q1 2025 | BBD
BANCO BRADESCO S A | | SP ADR PFD NEW | 115,222 | 5,778 | -109,444 | $220,074 | $12,938 | -$207,136 | 2025-05-15 |
|---|
| Q1 2025 | GGB
GERDAU SA | | SPON ADR REP PFD | 45,911 | 5,312 | -40,599 | $132,224 | $15,086 | -$117,138 | 2025-05-15 |
|---|
| Q1 2025 | BAK
BRASKEM S A | | SP ADR PFD A | 337 | 100 | -237 | $1,301 | $385 | -$916 | 2025-05-15 |
|---|
| Q4 2024 | BANCOLOMBIA S A
CUSIP 05968L102 | | SPON ADR PREF | 2,313 | 27 | -2,286 | $72,582 | $851 | -$71,731 | 2025-02-13 |
|---|
| Q4 2024 | CIG
CIA ENERGETICA DE MINAS GERA | | SP ADR N-V PFD | 28,333 | 232 | -28,101 | $58,366 | $411 | -$57,955 | 2025-02-13 |
|---|
| Q3 2024 | BBD
BANCO BRADESCO S A | | SP ADR PFD NEW | 90,784 | 72,102 | -18,682 | $203,356 | $191,791 | -$11,565 | 2024-11-14 |
|---|
| Q3 2024 | BAK
BRASKEM S A | | SP ADR PFD A | 280 | 146 | -134 | $1,806 | $1,072 | -$734 | 2024-11-14 |
|---|
| Q2 2024 | BAK
BRASKEM S A | | SP ADR PFD A | 11,984 | 280 | -11,704 | $126,192 | $1,806 | -$124,386 | 2024-08-13 |
|---|
| Q2 2024 | BANCOLOMBIA S A
CUSIP 05968L102 | | SPON ADR PREF | 2,519 | 388 | -2,131 | $86,200 | $12,668 | -$73,532 | 2024-08-13 |
|---|
| Q2 2024 | GGB
GERDAU SA | | SPON ADR REP PFD | 18,818 | 9,361 | -9,457 | $83,176 | $30,891 | -$52,285 | 2024-08-13 |
|---|
| Q1 2024 | BANCOLOMBIA S A
CUSIP 05968L102 | | SPON ADR PREF | 10,269 | 2,519 | -7,750 | $315,977 | $86,200 | -$229,777 | 2024-05-15 |
|---|
| Q1 2024 | BBD
BANCO BRADESCO S A | | SP ADR PFD NEW | 48,010 | 24,318 | -23,692 | $168,035 | $69,549 | -$98,486 | 2024-05-15 |
|---|
| Q1 2024 | CIG
CIA ENERGETICA DE MINAS GERA | | SP ADR N-V PFD | 45,059 | 20,247 | -24,812 | $104,537 | $50,010 | -$54,527 | 2024-05-15 |
|---|
| Q3 2016 | COMPANHIA PARANAENSE ENERG C
CUSIP 20441B407 | | SPON ADR PFD | 12,561 | 2,100 | -10,461 | $113,000 | $22,000 | -$91,000 | 2016-11-08 |
|---|
| Q3 2016 | CIG
COMPANHIA ENERGETICA DE MINA | | SP ADR N-V PFD | 69,721 | 33,489 | -36,232 | $154,000 | $87,000 | -$67,000 | 2016-11-08 |
|---|
| Q3 2016 | GGB
GERDAU S A | | SPON ADR REP PFD | 56,486 | 18,134 | -38,352 | $103,000 | $49,000 | -$54,000 | 2016-11-08 |
|---|
| Q3 2016 | COMPANHIA BRASILEIRA DE DIST
CUSIP 20440T201 | | SPN ADR PFD CL A | 5,003 | 1,464 | -3,539 | $73,000 | $24,000 | -$49,000 | 2016-11-08 |
|---|
| Q3 2016 | BAK
BRASKEM S A | | SP ADR PFD A | 1,696 | 635 | -1,061 | $20,000 | $10,000 | -$10,000 | 2016-11-08 |
|---|
| Q2 2016 | BAK
BRASKEM S A | | SP ADR PFD A | 5,633 | 1,696 | -3,937 | $73,000 | $20,000 | -$53,000 | 2016-08-10 |
|---|
| Q2 2016 | ITUB
ITAU UNIBANCO HLDG SA | | SPON ADR REP PFD | 3,981 | 700 | -3,281 | $34,000 | $7,000 | -$27,000 | 2016-08-10 |
|---|
| Q1 2016 | BBD
BANCO BRADESCO S A | | SP ADR PFD NEW | 50,005 | 2,505 | -47,500 | $240,000 | $19,000 | -$221,000 | 2016-05-16 |
|---|
| Q1 2016 | BAK
BRASKEM S A | | SP ADR PFD A | 9,960 | 5,633 | -4,327 | $135,000 | $73,000 | -$62,000 | 2016-05-16 |
|---|
| Q1 2016 | CIG
COMPANHIA ENERGETICA DE MINA | | SP ADR N-V PFD | 17,264 | 1,252 | -16,012 | $26,000 | $3,000 | -$23,000 | 2016-05-16 |
|---|
| Q1 2016 | CENTRAIS ELETRICAS BRASILEIR
CUSIP 15234Q108 | | SPON ADR PFD B | 6,655 | 142 | -6,513 | $17,000 | $0 | -$17,000 | 2016-05-16 |
|---|
| Q4 2015 | CENTRAIS ELETRICAS BRASILEIR
CUSIP 15234Q108 | | SPON ADR PFD B | 44,218 | 6,655 | -37,563 | $96,000 | $17,000 | -$79,000 | 2016-02-10 |
|---|
| Q4 2015 | COMPANHIA BRASILEIRA DE DIST
CUSIP 20440T201 | | SPN ADR PFD CL A | 4,017 | 0 | -4,017 | $50,000 | $0 | -$50,000 | 2016-02-10 |
|---|
| Q4 2015 | VALE S A
CUSIP 91912E204 | | ADR REPSTG PFD | 9,257 | 400 | -8,857 | $31,000 | $1,000 | -$30,000 | 2016-02-10 |
|---|
| Q4 2015 | GOL LINHAS AEREAS INTLG S A
CUSIP 38045R107 | | SP ADR REP PFD | 6,778 | 4,185 | -2,593 | $7,000 | $2,000 | -$5,000 | 2016-02-10 |
|---|
| Q4 2015 | AVIANCA HLDGS SA
CUSIP 05367G100 | | SPON ADR REP PFD | 285 | 200 | -85 | $1,000 | $1,000 | $0 | 2016-02-10 |
|---|
| Q3 2015 | BBD
BANCO BRADESCO S A | | SP ADR PFD NEW | 90,376 | 1,911 | -88,465 | $828,000 | $10,000 | -$818,000 | 2015-11-13 |
|---|
| Q3 2015 | COMPANHIA BRASILEIRA DE DIST
CUSIP 20440T201 | | SPN ADR PFD CL A | 7,146 | 4,017 | -3,129 | $169,000 | $50,000 | -$119,000 | 2015-11-13 |
|---|
| Q3 2015 | CIG
COMPANHIA ENERGETICA DE MINA | | SP ADR N-V PFD | 20,360 | 6,600 | -13,760 | $78,000 | $12,000 | -$66,000 | 2015-11-13 |
|---|
| Q3 2015 | COMPANHIA PARANAENSE ENERG C
CUSIP 20441B407 | | SPON ADR PFD | 2,376 | 273 | -2,103 | $26,000 | $2,000 | -$24,000 | 2015-11-13 |
|---|
| Q3 2015 | GOL LINHAS AEREAS INTLG S A
CUSIP 38045R107 | | SP ADR REP PFD | 10,373 | 6,778 | -3,595 | $24,000 | $7,000 | -$17,000 | 2015-11-13 |
|---|
| Q2 2015 | GOL LINHAS AEREAS INTLG S A
CUSIP 38045R107 | | SP ADR REP PFD | 17,957 | 10,373 | -7,584 | $44,000 | $24,000 | -$20,000 | 2015-07-30 |
|---|
| Q2 2015 | CENTRAIS ELETRICAS BRASILEIR
CUSIP 15234Q108 | | SPON ADR PFD B | 40,546 | 35,567 | -4,979 | $85,000 | $96,000 | +$11,000 | 2015-07-30 |
|---|
| Q1 2015 | CIG
COMPANHIA ENERGETICA DE MINA | | SP ADR N-V PFD | 76,799 | 9,418 | -67,381 | $382,000 | $39,000 | -$343,000 | 2015-05-12 |
|---|
| Q1 2015 | BAK
BRASKEM S A | | SP ADR PFD A | 3,610 | 178 | -3,432 | $46,000 | $1,000 | -$45,000 | 2015-05-12 |
|---|
| Q4 2014 | CENTRAIS ELETRICAS BRASILEIR
CUSIP 15234Q108 | | SPON ADR PFD B | 39,768 | 36,787 | -2,981 | $165,000 | $106,000 | -$59,000 | 2015-02-05 |
|---|
| Q4 2014 | GOL LINHAS AEREAS INTLG S A
CUSIP 38045R107 | | SP ADR REP PFD | 364 | 40 | -324 | $2,000 | $0 | -$2,000 | 2015-02-05 |
|---|
| Q3 2014 | GOL LINHAS AEREAS INTLG S A
CUSIP 38045R107 | | SP ADR REP PFD | 14,186 | 364 | -13,822 | $77,000 | $2,000 | -$75,000 | 2014-10-31 |
|---|
| Q3 2014 | OI S.A.
CUSIP 670851203 | | SPN ADR REP PFD | 44,944 | 3,571 | -41,373 | $39,000 | $2,000 | -$37,000 | 2014-10-31 |
|---|
| Q3 2014 | COMPANHIA PARANAENSE ENERG C
CUSIP 20441B407 | | SPON ADR PFD | 945 | 232 | -713 | $14,000 | $3,000 | -$11,000 | 2014-10-31 |
|---|
| Q2 2014 | ITUB
ITAU UNIBANCO HLDG SA | | SPON ADR REP PFD | 45,062 | 2,060 | -43,002 | $669,000 | $30,000 | -$639,000 | 2014-08-14 |
|---|
| Q2 2014 | BBD
BANCO BRADESCO S A | | SP ADR PFD NEW | 43,603 | 100 | -43,503 | $596,000 | $1,000 | -$595,000 | 2014-08-14 |
|---|
| Q2 2014 | COMPANHIA BRASILEIRA DE DIST
CUSIP 20440T201 | | SPN ADR PFD CL A | 5,742 | 29 | -5,713 | $251,000 | $1,000 | -$250,000 | 2014-08-14 |
|---|
| Q2 2014 | CIG
COMPANHIA ENERGETICA DE MINA | | SP ADR N-V PFD | 16,173 | 105 | -16,068 | $110,000 | $1,000 | -$109,000 | 2014-08-14 |
|---|
| Q2 2014 | BAK
BRASKEM S A | | SP ADR PFD A | 7,146 | 1,184 | -5,962 | $112,000 | $15,000 | -$97,000 | 2014-08-14 |
|---|
| Q2 2014 | GOL LINHAS AEREAS INTLG S A
CUSIP 38045R107 | | SP ADR REP PFD | 22,197 | 14,186 | -8,011 | $107,000 | $77,000 | -$30,000 | 2014-08-14 |
|---|
| Q1 2014 | AVIANCA HLDGS SA
CUSIP 05367G100 | | SPON ADR REP PFD | 5,464 | 773 | -4,691 | $84,000 | $13,000 | -$71,000 | 2014-05-02 |
|---|
| Q1 2014 | BANCOLOMBIA S A
CUSIP 05968L102 | | SPON ADR PREF | 2,407 | 1,166 | -1,241 | $118,000 | $65,000 | -$53,000 | 2014-05-02 |
|---|
| Q4 2013 | VALE S A
CUSIP 91912E204 | | ADR REPSTG PFD | 56,889 | 600 | -56,289 | $808,000 | $8,000 | -$800,000 | 2014-01-31 |
|---|
| Q4 2013 | COMPANHIA PARANAENSE ENERG C
CUSIP 20441B407 | | SPON ADR PFD | 13,358 | 832 | -12,526 | $186,000 | $11,000 | -$175,000 | 2014-01-31 |
|---|
| Q4 2013 | OI S.A.
CUSIP 670851203 | | SPN ADR REP PFD | 90,754 | 217 | -90,537 | $167,000 | $0 | -$167,000 | 2014-01-31 |
|---|
| Q4 2013 | GGB
GERDAU S A | | SPON ADR REP PFD | 8,014 | 600 | -7,414 | $60,000 | $5,000 | -$55,000 | 2014-01-31 |
|---|
| Q4 2013 | GOL LINHAS AEREAS INTLG S A
CUSIP 38045R107 | | SP ADR REP PFD | 10,879 | 2,320 | -8,559 | $53,000 | $11,000 | -$42,000 | 2014-01-31 |
|---|
| Q4 2013 | CIG
COMPANHIA ENERGETICA DE MINA | | SP ADR N-V PFD | 8,904 | 7,240 | -1,664 | $77,000 | $56,000 | -$21,000 | 2014-01-31 |
|---|
| Q3 2013 | NORTEL INVERSORA S A
CUSIP 656567401 | | SPON ADR PFD B | 800 | 113 | -687 | $12,000 | $2,000 | -$10,000 | 2013-11-06 |
|---|
| Q3 2013 | CENTRAIS ELETRICAS BRASILEIR
CUSIP 15234Q108 | | SPON ADR PFD B | 904 | 200 | -704 | $4,000 | $1,000 | -$3,000 | 2013-11-06 |
|---|