Investing in Brazil ADRs / Brazilian Stocks

There is a good range of large cap, mid cap and small cap Brazil ADRs trading on major US stock exchanges as well as on the OTC market. These Brazilian ADRs represent most sectors of the economy with a heavy emphasis on the utility, mining and natural resource sectors in particular.

Large cap Ambev SA (NYSE: ABEV) would be the most familiar Brazilian stock to American investors as its a subsidiary of Interbrew International BV which controls Anheuser Busch Inbev NV (NYSE: BUD) which in turn is effectively managed by the Brazilians. Embraer SA (NYSE: ERJ) is also a familiar Brazilian stock as its the maker of smaller commercial airliner and business jets.

In addition, Restaurant Brands International (NYSE: QSR), which owns Burger King, Popeyes Louisiana Kitchen and Canadian coffee shop and restaurant chain Tim Hortons, is controlled by Brazil based global investment group 3G Capital who, along with Berkshire Hathaway (NYSE: BRK.A), backed the merger of Kraft Foods Group and Heinz into Kraft Heinz Co (NASDAQ: KHC) which they both jointly control.

Small cap Fogo De Chao Inc (NASDAQ: FOGO) was a publicly listed US-based holding company operating upscale Brazilian churrascaria steakhouses that began in Brazil (where it still has operations) and is now headquartered in Texas with most restaurants being in the USA. The entire company was acquired in 2018 by Rhône Group (a private equity group), but there were indications in 2021 that it may go public again.

However, no discussion of investing in Brazilian ADRs and stocks is complete without mentioning Operation Car Wash (Operação Lava Jato). Originally a money laundering investigation, it expanded to cover allegations of corruption at Petrobras (NYSE: PBR), where executives allegedly accepted bribes in return for awarding contracts to construction firms at inflated prices (this criminal scheme was initially known as Petrolão or “big oil” because of the Petrobras scandal). After Brazilian construction company Odebrecht was deeply implicated, at least eleven other (mostly Latin America) countries became involved with now delisted diversified Peruvian conglomerate Grana y Montero SAA (NYSE: GRAM) being among other Latin American stocks tainted by the scandal.

Investors interested in other ways to invest in Brazil should also check out our Brazil ETFs list, Latin America Closed-End Funds list and Latin America ETF list (region wide) pages.

Note: Stocks delisted from the OTC (whether due to mergers, acquisitions or for other reasons) have been left in the table (as their websites still provide a good feel for the company and the local market) and may still trade on local, regional or European (e.g. London) stock exchanges. They may also be holdings of country or region specific ETFs, closed-end funds or Indices. 

List of Brazil ADRs Trading on Major US Stock Exchanges & the Over-the-Counter (OTC) Exchange

 CompanyTickerExchangeIndustry
1Advanced Digital Health Medicina Preventiva S.A.ADHMY DelistedHealthcare
2AES Tiete Energia S.A.ASTGYDelistedUtilities
3Ambev S.A.ABEVNYSEFood & Beverage
4AtacadaoATAAYOTCPinkFood & Beverage
5Azul S.A.AZULNYSEAirline
6B3 SA (Brasil Bolsa Balcao)BOLSYOTCPinkFinancial Services
7Banco Bradesco S.A.BBDNYSEFinancial Services
8Banco Bradesco S.A.BBDONYSEFinancial Services
9Banco do Brasil BDORY OTCPinkFinancial Services
10Banco InterBNCOYOTCPinkFinancial Services
11Banco PanBNCPYOTCPinkFinancial Services
12Banco Santander (Brasil) S.A. BSBR NYSEFinancial Services
13BB Seguridade BBSEY OTCPinkFinancial Services
14Bombril-Cirio S.A. BMBPY DelistedConsumer Goods
15BR Malls Participacoes BRMSY OTCPinkReal Estate
16BrasilAgro - Companhia Brasileira de Propriedades Agricolas LNDNYSEAgriculture
17Braskem S.A. BAK NYSEBasic Materials
18BRF S.A. BRFS NYSEFood & Beverage
19Centrais Eletricas Brasileiras S.A. - Eletrobras EBR NYSEUtilities
20Centrais Eletricas Brasileiras S.A. - EletrobrasEBR-BNYSEUtilities
21Centrais Eletricas de Santa Catarina S.A. CEDWY DelistedElectricity
22Cielo S.A. CIOXY OTCPinkFinancial Services
23Cogna Educação S.A. (formerly Kroton Educacional S.A.)COGNYOTCPinkEducation
24Companhia Brasileira de AluminioCMPBYOTCPinkBasic Materials
25Companhia Brasileira de Distribuicao CBD NYSERetail
26Companhia de Saneamento Basico SBS NYSEUtilities
27Companhia de Transmissão de Energia Elétrica Paulista S.A. (CTEEP)CTPTY OTCPinkUtilities
28Companhia de Transmissão de Energia Elétrica Paulista S.A. (CTEEP)CTPZYOTCPinkUtilities
29Companhia Energetica de Minas Gerais S.A. CIGNYSEUtilities
30Companhia Energetica de Minas Gerais S.A. CIG.C NYSEUtilities
31Companhia Energetica De Sao Paulo CSQSY DelistedUtilities
32Companhia Energetica De Sao PauloCESDYDelistedUtilities
33Companhia Paranaense de Energia - COPEL ELP NYSEUtilities
34Companhia Paranaense de Energia - COPEL ELPVY DelistedUtilities
35Companhia Siderurgica Nacional SID NYSESteel
36Cosan Limited CSANNYSEBioethanol
37CPFL Energia S.A. CPL DelistedUtilities
38CR2 Empreendimentos Imobiliarios S.A. CREIY DelistedReal Estate
39CVC Brasil Operadora e AgenciaCVCBYOTCPinkInternet (Travel)
40Cyrela Brazil Realty S.A. CYRBY OTCPinkReal Estate
41Cyrela Commercial Properties S.A. CYRLY OTCPinkReal Estate
42Dommo Energia SA (Oleo e Gas Participacoes S.A.)OGXPY DelistedOil & Gas
43Dommo Energia SA (Ogx Petroleo E Gas SA Em Recuperacao Judicial)OXPRY DelistedOil & Gas
44Eletropaulo Metropolitana Electricidade de Sao Paulo S.A. EPUMYDelistedUtilities
45Embraer S.A.ERJ NYSEAerospace
46Eneva S.A. ENEVY DelistedUtilities
47Engie Brasil Energia S.A. EGIEY OTCPinkUtilities
48Equatorial Energia S.A. EQUEY OTCPinkUtilities
49Fibria Celulose S.A. FBR DelistedForestry & Paper
50Fleury SAFLRYYOTCPinkHealth Care
51Gafisa S.A.GFA DelistedReal Estate
52Gafisa S.A.GFASYOTCPinkReal Estate
53Gafisa S.A.GFSAYOTCDarkReal Estate
54Gerdau S.A. GGB NYSESteel
55Getnet Adquirencia e Servicos para Meios de Pagamentos S.A.GETNASDAQTechnology (Payments)
56GOL Linhas Aereas Inteligentes S.A. GOL NYSEAirlines
57 Hypera PharmaHYPMY OTCPinkPharmaceuticals
58Iguatemi Empresa de ShoppingIGTAYOTCDarkReal Estate
59Iochpe-Maxion S.A. IOCJY OTCPinkAutomotive
60 IRB Brazil Resseguros SAIRBBYOTCPinkInsurance
61Itau Unibanco Holding S.A. ITUB NYSEFinancial Services
62JBS S.A. JBSAY OTCQXFood & Beverage
63JSL S.A. JSLGY OTCPinkLogistics
64Klabin S.A. KLBAY OTCPinkForestry & Paper
65Light S.A. LGSXY OTCPinkUtilities
66Liq Participacoes SA (Formerly Contax Participacoes SA)CTXNY DelistedIT / Outsourcing
67Localiza Rent A Car S.A. LZRFY OTCQXConsumer Services
68Locamerica (Companhia de Locação das Américas)CDLDYOTCPinkConsumer Services
69Lojas Renner S.A. LRENY OTCPinkRetail
70Lupatech S.A. LUPAQ DelistedOil & Gas
71Magazine Luiza S.A.MGLUYOTCPinkRetail
72Magnesita Refratarios S.A.MFRSY DelistedMining
73Marfrig Global Foods MRRTY OTCPinkFood & Beverage
74Mills Estruturas E Servicos De Engenharia S.A. MILTY DelistedConstruction
75Minerva S.A.MRVSYOTCPinkFood & Beverage
76Movida Participacoes SA MOVYYOTCPinkConsumer Services
77MMX Mineracao e Metalicos S.A. MMXMY OTCGreyMining
78MRV Engenharia e Participacoes S.A. MRVNY DelistedReal Estate
78Multiplan Empreendimentos ImobiliarMLTTYOTCPinkReal Estate
80Natura & Co HoldingNTCONYSEConsumer Products
81NeoenergiaNRGIYOTCPinkAlternative Energy
82Notre Dame Intermedica Participacoes S.A.NTEDYDelistedHealth Care
83OdontoPrev S.A. ODPVYDelistedHealthcare
84Oi S.A. OIBR-CDelistedTelecommunications
85Oi S.A. OIBRQOTCPinkTelecommunications
86OSX Brasil S.A. OSXRY DelistedOil & Gas
87Parana Banco S.A. PRBAY DelistedFinancial Services
88PDG Realty S.A. PDGRY OTCDarkReal Estate
89Petroleo Brasileiro S.A. (Petrobras)PBR NYSEOil & Gas
90Petroleo Brasileiro S.A. (Petrobras)PBR-A NYSEOil & Gas
91Porto Seguro SAPORSYOTCPinkInsurance
92Prumo Logistica S.A. PRMLY DelistedLogistics
93Qualicorp S.A. QULRY OTCGreyInsurance
94Raia Drogasil S.A. RADLY OTCPinkRetail
95Rio Paranapanema Energia S.A. (Duke Energy International Geracao Paranapanema S.A.) DEIWYDelistedUtilities
96Rio Paranapanema Energia S.A. (Duke Energy International Geracao Paranapanema S.A.)DEIPY OTCDarkUtilities
97Rossi Residencial S.A. RSRZY DelistedReal Estate
98SABESP (Companhia de Saneamento Básico do Estado de São Paulo)SBSNYSEUtilities
99Sao Paulo Alpargatas S.A.SRSDYDelistedConsumer Goods
100Saraiva S.A. Livreiros Editores SVLOY DelistedMedia
101Saraiva S.A. Livreiros Editores SVLSY OTCPinkMedia
102SLC Agricola S.A. SLCJY OTCPinkAgriculture
103Suzano S.A.SUZNYSEForestry & Paper
104Suzano Papel e Celulose S.A.SUZBY DelistedForestry & Paper
105SYN prop e tech S.A.SYYNYOTCPinkReal Estate
106Tele Norte Leste Participacoes SA TNEDelistedTelecommunications
107Telefonica Brasil S.A. VIVNYSETelecommunications
108TIM Participacoes S.A.TSU DelistedTelecommunications
109TotvsTTVSYOTCPinkTechnology
110Ultrapar Participacoes S.A. UGP NYSEUtilities
111Usinas Siderurgicas de Minas Gerais S.A. USNZY OTCPinkSteel
112Usinas Siderurgicas de Minas Gerais S.A. USDMY OTCGreySteel
113Vale S.A. VALE NYSEMining
114Vale S.A. VALE.P DelistedMining
115Valid Solucoes e Servicos de Seguranca em Meios de Pagamento VSSPY OTCPinkTechnology
116Via Varejo S.A. GBXPY OTCGreyRetail
117Vibra Energia S.A.PETRYOTCPinkOil & Gas
118Weg S.A. WEGZY OTCPinkUtilities
119YDUQS Participacoes S.A.ECPCY DelistedEducation

* EmergingMarketSkeptic.com provides useful information that should not constitute investment advice or a recommendation to invest. In addition, your use of any content is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the content. Read More

Note: If there are any ADRs to add or remove from this list or there are bad links, please write a note in the comments section so it can be fixed. Likewise, adding any other comments or advice would also be appreciated.

Brazil Stocks Often Have Dual-Class Share Structures

Before investing in Brazilian stocks or Brazil ADRs, its worth reading a CFA Society article and paper entitled: “An Assessment of Dual-Class Shares in Brazil.” This paper explains how Brazilian stocks typically have “preferred” shares available to the public with no voting rights (but compensated with a slightly higher dividend) and “common” shares held by founders and insiders that has voting rights. In other words and like many tech or private equity controlled stocks, Brazilian stocks tend to be “closely held” companies controlled by families or a small group of insiders.

Brazil Stock Exchanges

With origins dating back to 1890, the B3 S.A. – Brasil, Bolsa, Balcão (“B3 – Brazil Stock Exchange and Over-the-Counter Market”), formerly BM&F BOVESPA, was created in 2008 when the Brazilian Mercantile and Futures Exchange (BM&F) and the São Paulo Stock Exchange (Bovespa) merged. Its now one of the largest stock exchanges in the world in terms of market capitalization, the second largest stock exchange in the Western hemisphere and the biggest stock exchange in Latin America. Chicago’s CME Group also owns a 5% stake in the BS (who also owns a 5% stake in the CME Group).

Brazil’s second largest stock exchange is the Bolsa de Valores de Rio de Janeiro (BVRJ) which was founded in 1820, sold to BM&F in 2002 and now trades government bonds and currencies.

In addition, the Bolsa de Cereais e Mercadorias de Maringá (BCMM) was founded in 1982 and concentrates on the marketing of agricultural products nationwide.

Brazil Stocks and Investing ResourcesBrazil ADRs

Here are some useful and mostly English news resources for investing in Brazilian ADRs or stocks or about Brazil in general:

For additional resources for investing in Brazil ADRs or stocks, check out all of our Brazil tagged articles/links.

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