<SEC-DOCUMENT>0001193125-25-220429.txt : 20250926
<SEC-HEADER>0001193125-25-220429.hdr.sgml : 20250926
<ACCEPTANCE-DATETIME>20250926160102
ACCESSION NUMBER:		0001193125-25-220429
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250926
DATE AS OF CHANGE:		20250926

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BRF S.A.
		CENTRAL INDEX KEY:			0001122491
		STANDARD INDUSTRIAL CLASSIFICATION:	MEAT PACKING PLANTS [2011]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-81914
		FILM NUMBER:		251350354

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		AV DAS NACOES UNIDAS 14401 22ND-25TH
		STREET 2:		FLOORS TORRE A2 VILA GERTRUDES 04794-000
		CITY:			SAO PAULO
		NON US STATE TERRITORY:  	SAO PAULO
		PROVINCE COUNTRY:   	D5
		BUSINESS PHONE:		551123225377

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		AV DAS NACOES UNIDAS 14401 22ND-25TH
		STREET 2:		FLOORS TORRE A2 VILA GERTRUDES 04794-000
		CITY:			SAO PAULO
		NON US STATE TERRITORY:  	SAO PAULO
		PROVINCE COUNTRY:   	D5

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BRF-BRASIL FOODS S.A.
		DATE OF NAME CHANGE:	20090708

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PERDIGAO SA
		DATE OF NAME CHANGE:	20000823

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUBLIC INVESTMENT FUND
		CENTRAL INDEX KEY:			0001767640
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			T0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		THE PUBLIC INVESTMENT FUND TOWER,
		STREET 2:		KING ABDULLAH FINANCIAL DISTRICT (KAFD)
		CITY:			AL AQIQ DISTRICT, RIYADH
		STATE:			T0
		ZIP:			13519
		BUSINESS PHONE:		966 11 813 5001

	MAIL ADDRESS:	
		STREET 1:		THE PUBLIC INVESTMENT FUND TOWER,
		STREET 2:		KING ABDULLAH FINANCIAL DISTRICT (KAFD)
		CITY:			AL AQIQ DISTRICT, RIYADH
		STATE:			T0
		ZIP:			13519
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13D" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <headerData>
    <submissionType>SCHEDULE 13D/A</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001767640</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>1</amendmentNo>
      <securitiesClassTitle>Common Shares, no par value</securitiesClassTitle>
      <dateOfEvent>09/04/2025</dateOfEvent>
      <previouslyFiledFlag>false</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0001122491</issuerCIK>
        <issuerCUSIP>10552T107</issuerCUSIP>
        <issuerName>BRF S.A.</issuerName>
        <address>
          <street1 xmlns="http://www.sec.gov/edgar/common">14401 Av. Das Nacoes Unidas 22nd Floor</street1>
          <street2 xmlns="http://www.sec.gov/edgar/common">Chac Santo Antonio</street2>
          <city xmlns="http://www.sec.gov/edgar/common">Sao Paulo - SP</city>
          <stateOrCountry xmlns="http://www.sec.gov/edgar/common">D5</stateOrCountry>
          <zipCode xmlns="http://www.sec.gov/edgar/common">04730 090</zipCode>
        </address>
      </issuerInfo>
      <authorizedPersons>
        <notificationInfo>
          <personName>Sulaiman AlRumaih c/o SALIC</personName>
          <personPhoneNum>966 112681 333</personPhoneNum>
          <personAddress>
            <street1 xmlns="http://www.sec.gov/edgar/common">Business Gate, Building 6, 7452</street1>
            <street2 xmlns="http://www.sec.gov/edgar/common">Airport Branch Rd Qurtubah, Unit No. 2</street2>
            <city xmlns="http://www.sec.gov/edgar/common">Ar Riyadh</city>
            <stateOrCountry xmlns="http://www.sec.gov/edgar/common">T0</stateOrCountry>
            <zipCode xmlns="http://www.sec.gov/edgar/common">13244-2327</zipCode>
          </personAddress>
        </notificationInfo>
      </authorizedPersons>
    </coverPageHeader>
    <reportingPersons>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>SALIC International Investment Company</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>WC</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>T0</citizenshipOrOrganization>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>0</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>0</sharedDispositivePower>
        <aggregateAmountOwned>0</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>0</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>Saudi Agricultural and Livestock Investment Company</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>WC</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>T0</citizenshipOrOrganization>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>0</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>0</sharedDispositivePower>
        <aggregateAmountOwned>0</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>0</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001767640</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>The Public Investment Fund</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>WC</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>T0</citizenshipOrOrganization>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>0</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>0</sharedDispositivePower>
        <aggregateAmountOwned>0</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>0</percentOfClass>
        <typeOfReportingPerson>OO</typeOfReportingPerson>
        <commentContent>Sovereign Wealth Fund of Saudi Arabia</commentContent>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Common Shares, no par value</securityTitle>
        <issuerName>BRF S.A.</issuerName>
        <issuerPrincipalAddress>
          <street1 xmlns="http://www.sec.gov/edgar/common">14401 Av. Das Nacoes Unidas 22nd Floor</street1>
          <street2 xmlns="http://www.sec.gov/edgar/common">Chac Santo Antonio</street2>
          <city xmlns="http://www.sec.gov/edgar/common">Sao Paulo - SP</city>
          <stateOrCountry xmlns="http://www.sec.gov/edgar/common">D5</stateOrCountry>
          <zipCode xmlns="http://www.sec.gov/edgar/common">04730 090</zipCode>
        </issuerPrincipalAddress>
        <commentText>                                                                                                                                                               Explanatory Note

	This Amendment No. 1 to Schedule 13D ("Amendment No. 1") amends and supplements the Schedule 13D originally filed with the United States Securities and Exchange Commission on August 10, 2023 (as amended to date, the "Schedule 13D"), relating to the common shares, no par value (the "Common Shares"), of BRF S.A., a Brazilian corporation (the "Issuer"), whose principal executive office is located at 14401 Av. Das Nacoes Unidas 22nd Floor, Chac Santo Antonio 04730 090 - Sao Paulo - SP, Brazil. Capitalized terms used herein without definition shall have the meanings set forth in the Schedule 13D.
</commentText>
      </item1>
      <item4>
        <transactionPurpose>On September 2, 2025, SALIC Investment executed a sale of an aggregate of 185,556,900 Common Shares at a net price per share of approximately R$19.96 via an auction on B3 S.A.  - Brasil, Bolsa, Balcao, the Brazilian stock exchange, which settled on September 4, 2025 (the "Disposition").</transactionPurpose>
      </item4>
      <item5>
        <percentageOfClassSecurities>The information contained on the cover pages is incorporated by reference to this Item 5.</percentageOfClassSecurities>
        <numberOfShares>The information contained on the cover pages is incorporated by reference to this Item 5.</numberOfShares>
        <transactionDesc>Other than the Disposition, as reported in Item 4, and the Derivative Transaction, as reported in Item 6, the Reporting Persons have not effected any transactions in the Common Shares during the past 60 days.</transactionDesc>
        <listOfShareholders>None.</listOfShareholders>
        <date5PercentOwnership>As a result of the Disposition, on September 4, 2025, the Reporting Persons ceased to be the beneficial owners of more than five percent of the outstanding Common Shares.</date5PercentOwnership>
      </item5>
      <item6>
        <contractDescription>Substantially concurrently with the Disposition, SALIC Investment entered into a cash-settled derivative transaction referencing 185,556,900 Common Shares ("Derivative Transaction") with an unaffiliated third-party financial institution ("Dealer").  In consideration, SALIC Investment agreed to pay Dealer an upfront payment based on the initial reference price of such referenced 185,556,900 Common Shares as determined pursuant to the terms of the Derivative Transaction, and certain other non-refundable fees payable upfront and on a quarterly basis. Pursuant to the terms of the Derivative Transaction, SALIC Investment may, at any time prior to its expiry, exercise its right to cause the settlement of the Derivative Transaction with respect to such referenced 185,556,900 Common Shares (or a portion thereof designated by SALIC Investment to be unwound) and receive, subject to the terms of the Derivative Transaction, a cash settlement payment from the Dealer as determined pursuant to the terms of the Derivative Transaction. At the expiry of the Derivative Transaction, SALIC Investment will receive, subject to the terms of the Derivative Transaction, a cash settlement payment from Dealer based on the settlement price of the then-remaining number of referenced Common Shares as determined pursuant to the terms of the Derivative Transaction. The Derivative Transaction is currently scheduled to expire on September 2, 2026.</contractDescription>
      </item6>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>SALIC International Investment Company</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/	Sulaiman AlRumaih</signature>
          <title>Sulaiman AlRumaih, Chief Executive Officer</title>
          <date>09/04/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Saudi Agricultural and Livestock Investment Company</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Sulaiman AlRumaih</signature>
          <title>Sulaiman AlRumaih, Chief Executive Officer</title>
          <date>09/04/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>The Public Investment Fund</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Yasir O. AlRumayyan</signature>
          <title>Yasir O. AlRumayyan, Governor</title>
          <date>09/04/2025</date>
        </signatureDetails>
      </signaturePerson>
    </signatureInfo>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
