Jeremy Grantham acquired 4.8 Million Gerdau S.A. shares worth $12.6 Million. That's 0.04% of their equity portfolio (226th largest holding). The first Gerdau S.A. trade was made in Q1 2013. Since then Jeremy Grantham bought shares fourteen more times and sold shares on seventeen occasions. The investor's estimated purchase price is $20.1 Million, resulting in a loss of 37%.