AT&T INC T
COM · Common Stock · CUSIP 00206R102 · ISIN US00206R1023
American multinational conglomerate
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($285.2m this quarter). Holder counts are more reliable. Shares outstanding: 7.1bn as of 2023-04-25, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $19.23. Options: 58 managers hold calls ($1.4bn notional), 48 hold puts ($777.5m).
Trends to Q1 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 2,324 |
| Q4 2022 | 2,424 |
| Q1 2023 | 2,404 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 1,131 | 1,121 |
| Q1 2023 | 1,203 | 1,067 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2022 | $1.3bn | $1.0bn | 0.82 |
| Q4 2022 | $2.0bn | $1.3bn | 0.61 |
| Q1 2023 | $1.4bn | $777.5m | 0.56 |
Biggest buyers
| FMR LLC | Added | +34.0m |
| CITADEL ADVISORS LLC | Added | +27.1m |
| MILLENNIUM MANAGEMENT LLC | Added | +15.3m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +11.9m |
| BANK OF AMERICA CORP /DE/ | Added | +11.1m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +10.1m |
| Point72 Asset Management, L.P. | New | +9.6m |
| FEDERATED HERMES, INC. | Added | +8.7m |
| VANGUARD GROUP INC | Added | +8.0m |
| ENVESTNET ASSET MANAGEMENT INC | Added | +7.2m |
Biggest sellers
| Capital World Investors | Reduced | -13.0m |
| NORGES BANK | Reduced | -7.1m |
| BARCLAYS PLC | Reduced | -6.3m |
| AQR CAPITAL MANAGEMENT LLC | Reduced | -5.7m |
| NATIXIS | Sold out | -5.6m |
| Caisse de depot et placement du Quebec | Reduced | -5.5m |
| MORGAN STANLEY | Reduced | -5.5m |
| STATE OF MICHIGAN RETIREMENT SYSTEM | Reduced | -4.8m |
| Bank of New York Mellon Corp | Reduced | -4.2m |
| SG Americas Securities, LLC | Reduced | -3.7m |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $511.0m26.5m shares |
| CITADEL ADVISORS LLC | Reduced | $136.8m7.1m shares |
| JANE STREET GROUP, LLC | Added | $105.6m5.5m shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $77.0m4.0m shares |
| Twin Tree Management, LP | Reduced | $68.0m3.5m shares |
| D. E. Shaw & Co., Inc. | Added | $67.1m3.5m shares |
| SIMPLEX TRADING, LLC | Reduced | $61.7m3.8m shares |
| GOLDMAN SACHS GROUP INC | Reduced | $58.2m3.0m shares |
| CMT Capital Markets Trading GmbH | Reduced | $36.1m1.9m shares |
| IMC-Chicago, LLC | Reduced | $24.7m1.3m shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $235.2m12.2m shares |
| CITADEL ADVISORS LLC | Reduced | $78.8m4.1m shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $56.1m2.9m shares |
| BNP PARIBAS FINANCIAL MARKETS | Reduced | $54.9m28.5k shares |
| SIMPLEX TRADING, LLC | Reduced | $42.0m2.5m shares |
| GOLDMAN SACHS GROUP INC | Reduced | $38.4m2.0m shares |
| JANE STREET GROUP, LLC | Reduced | $27.5m1.4m shares |
| Parallax Volatility Advisers, L.P. | Reduced | $20.2m1.0m shares |
| BANK OF AMERICA CORP /DE/ | Reduced | $19.5m1.0m shares |
| UBS Group AG | Reduced | $19.2m997.8k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.5% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q1 2023
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2021 | 0 | — | 0 | — | — |
| Q3 2021 | 0 | — | 0 | — | — |
| Q4 2021 | 1 | $2.5m | 0 | — | — |
| Q1 2022 | 0 | — | 0 | — | — |
| Q2 2022 | 0 | — | 0 | — | — |
| Q3 2022 | 0 | — | 0 | — | — |
| Q4 2022 | 0 | — | 0 | — | — |
| Q1 2023 | 0 | — | 0 | — | — |
None reported in Q1 2023.
Holders, Q1 2023
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.30% of their portfolio | 615.0m $11.8bn | Added +8.0m |
| BlackRock Inc. 0.30% of their portfolio | 523.1m $10.1bn | Added +2.0m |
| STATE STREET CORP 0.31% of their portfolio | 287.3m $5.5bn | Added +1.6m |
| Newport Trust Company, LLC 10.47% of their portfolio | 196.7m $3.8bn | Added +1.3m |
| GEODE CAPITAL MANAGEMENT, LLC 0.34% of their portfolio | 134.4m $2.6bn | Added +530.5k |
| MORGAN STANLEY 0.21% of their portfolio | 104.1m $2.0bn | Reduced -5.5m |
| NORTHERN TRUST CORP 0.29% of their portfolio | 76.5m $1.5bn | Reduced -611.1k |
| BANK OF AMERICA CORP /DE/ 0.14% of their portfolio | 63.5m $1.2bn | Added +11.1m |
| Bank of New York Mellon Corp 0.27% of their portfolio | 63.3m $1.2bn | Reduced -4.2m |
| FMR LLC 0.05% of their portfolio | 61.2m $1.2bn | Added +34.0m |
| NORGES BANK 0.25% of their portfolio | 59.6m $1.1bn | Reduced -7.1m |
| DIMENSIONAL FUND ADVISORS LP 0.34% of their portfolio | 52.4m $1.0bn | Added +388.2k |
| Legal & General Group Plc 0.35% of their portfolio | 50.7m $975.8m | Reduced -775.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.30% of their portfolio | 50.6m $974.8m | Added +104.8k |
| GOLDMAN SACHS GROUP INC 0.23% of their portfolio | 44.9m $864.3m | Added +3.5m |
| ROYAL BANK OF CANADA 0.23% of their portfolio | 39.7m $764.5m | Reduced -1.3m |
| Nuveen Asset Management, LLC 0.27% of their portfolio | 37.4m $720.3m | Reduced -211.9k |
| CITADEL ADVISORS LLC 0.69% of their portfolio | 32.8m $632.0m | Added +27.1m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.31% of their portfolio | 32.8m $631.3m | Reduced -545.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.09% of their portfolio | 32.2m $619.8m | Added +10.1m |
| DEUTSCHE BANK AG\ 0.34% of their portfolio | 31.4m $604.9m | Added +1.5m |
| FEDERATED HERMES, INC. 1.46% of their portfolio | 30.2m $581.0m | Added +8.7m |
| LSV ASSET MANAGEMENT 1.27% of their portfolio | 29.4m $566.9m | Added +2.2m |
| Invesco Ltd. 0.15% of their portfolio | 28.7m $551.6m | Reduced -495.8k |
| Swiss National Bank 0.37% of their portfolio | 28.3m $544.5m | Reduced -677.7k |
| Amundi 0.28% of their portfolio | 26.1m $516.7m | Added +4.7m |
| California Public Employees Retirement System 0.44% of their portfolio | 25.8m $496.5m | Reduced -2.0m |
| STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 0.48% of their portfolio | 24.2m $465.2m | Unchanged |
| JPMORGAN CHASE & CO 0.06% of their portfolio | 22.6m $434.2m | Added +3.6m |
| UBS Group AG 0.20% of their portfolio | 22.5m $433.5m | Added +2.9m |
| Sumitomo Mitsui Trust Group, Inc. 0.29% of their portfolio | 20.3m $391.6m | Reduced -98.0k |
| WELLS FARGO & COMPANY/MN 0.12% of their portfolio | 20.1m $386.1m | Reduced -109.4k |
| MILLENNIUM MANAGEMENT LLC 0.43% of their portfolio | 19.4m $374.1m | Added +15.3m |
| AMERIPRISE FINANCIAL INC 0.12% of their portfolio | 18.9m $362.9m | Added +311.4k |
| Robeco Institutional Asset Management B.V. 0.91% of their portfolio | 17.3m $332.9m | Added +851.1k |
| Caisse de depot et placement du Quebec 0.94% of their portfolio | 17.1m $328.8m | Reduced -5.5m |
| WELLINGTON MANAGEMENT GROUP LLP 0.06% of their portfolio | 17.0m $327.5m | Added +5.8m |
| ENVESTNET ASSET MANAGEMENT INC 0.10% of their portfolio | 16.2m $199.9m | Added +7.2m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.39% of their portfolio | 15.6m $299.7m | Added +11.9m |
| Brandywine Global Investment Management, LLC 1.12% of their portfolio | 14.4m $278.1m | Added +4.9m |
| Allianz Asset Management GmbH 0.57% of their portfolio | 14.2m $272.5m | Added +764.1k |
| NORDEA INVESTMENT MANAGEMENT AB 0.39% of their portfolio | 14.0m $266.2m | Added +1.6k |
| RHUMBLINE ADVISERS 0.33% of their portfolio | 14.0m $268.6m | Reduced -130.5k |
| PRUDENTIAL FINANCIAL INC 0.40% of their portfolio | 13.3m $256.0m | Added +42.8k |
| STATE OF MICHIGAN RETIREMENT SYSTEM 1.67% of their portfolio | 13.2m $253.9m | Reduced -4.8m |
| AQR CAPITAL MANAGEMENT LLC 0.52% of their portfolio | 12.5m $237.9m | Reduced -5.7m |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.35% of their portfolio | 12.2m $235.5m | Reduced -120.7k |
| RAYMOND JAMES & ASSOCIATES 0.20% of their portfolio | 12.2m $234.4m | Added +649.4k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.31% of their portfolio | 12.0m $230.3m | Reduced -754.9k |
| National Pension Service 0.41% of their portfolio | 11.9m $227.3m | Added +671.8k |
| BANK OF MONTREAL /CAN/ 0.16% of their portfolio | 11.6m $374.5m | Added +695.1k |
| CI INVESTMENTS INC. 1.09% of their portfolio | 11.3m $217.3m | Added +3.6m |
| ALLIANCEBERNSTEIN L.P. 0.09% of their portfolio | 11.3m $217.2m | Added +401.7k |
| CREDIT SUISSE AG/ 0.22% of their portfolio | 11.1m $213.4m | Reduced -97.5k |
| Ensign Peak Advisors, Inc 0.45% of their portfolio | 10.8m $207.2m | Added +596.4k |
| STRS OHIO 0.31% of their portfolio | 10.6m $203.8m | Added +7.0m |
| HSBC HOLDINGS PLC 0.26% of their portfolio | 10.6m $203.2m | Reduced -1.6m |
| BARCLAYS PLC 0.20% of their portfolio | 10.1m $194.0m | Reduced -6.3m |
| D. E. Shaw & Co., Inc. 0.31% of their portfolio | 10.1m $193.6m | Reduced -235.4k |
| VOYA INVESTMENT MANAGEMENT LLC 0.21% of their portfolio | 10.0m $192.9m | Reduced -1.1m |
| Point72 Asset Management, L.P. 0.66% of their portfolio | 9.6m $185.0m | New |
| Sessa Capital IM, L.P. 7.57% of their portfolio | 9.5m $183.8m | Reduced -921.3k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.37% of their portfolio | 8.6m $166.3m | Added +1.4m |
| CITIGROUP INC 0.22% of their portfolio | 8.5m $163.9m | Added +336.3k |
| LPL Financial LLC 0.12% of their portfolio | 8.3m $160.4m | Added +862.0k |
| PRINCIPAL FINANCIAL GROUP INC 0.11% of their portfolio | 8.3m $159.8m | Added +130.2k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.37% of their portfolio | 8.3m $159.2m | Added +33.5k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.37% of their portfolio | 8.2m $157.8m | Reduced -397.5k |
| CANADA LIFE ASSURANCE Co 0.39% of their portfolio | 8.2m $157.2m | Added +183.8k |
| TD Asset Management Inc 0.19% of their portfolio | 8.1m $155.8m | Added +742.8k |
| OFI INVEST ASSET MANAGEMENT 2.16% of their portfolio | 8.1m $418.3k | First filing |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.24% of their portfolio | 7.9m $152.0m | Reduced -1.5m |
| Capital World Investors 0.03% of their portfolio | 7.8m $149.6m | Reduced -13.0m |
| CAPTRUST FINANCIAL ADVISORS 0.64% of their portfolio | 7.5m $144.5m | Added +665.1k |
| EQUITY INVESTMENT CORP 4.45% of their portfolio | 7.1m $135.8m | Added +170.2k |
| Cullen Capital Management, LLC 1.22% of their portfolio | 6.9m $133.1m | Added +1.7m |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.20% of their portfolio | 6.9m $131.9m | Reduced -1.9m |
| Mitsubishi UFJ Trust & Banking Corp 0.32% of their portfolio | 6.8m $130.8m | Reduced -96.4k |
| WESTWOOD HOLDINGS GROUP INC 1.12% of their portfolio | 6.5m $124.5m | Reduced -26.3k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.07% of their portfolio | 6.1m $118.2m | Reduced -34.3k |
| Holocene Advisors, LP 0.56% of their portfolio | 5.9m $112.7m | New |
| STIFEL FINANCIAL CORP 0.16% of their portfolio | 5.8m $111.3m | Added +18.9k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.26% of their portfolio | 5.7m $109.3m | Added +564.5k |
| Epoch Investment Partners, Inc. 0.59% of their portfolio | 5.2m $99.5m | Reduced -210.4k |
| OSAIC HOLDINGS, INC. 0.18% of their portfolio | 5.1m $97.7m | Added +22.2k |
| Russell Investments Group, Ltd. 0.19% of their portfolio | 5.0m $96.6m | Added +457.6k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.20% of their portfolio | 5.0m $95.7m | Added +3.9k |
| BNP PARIBAS FINANCIAL MARKETS 0.20% of their portfolio | 4.9m $94.5m | Reduced -705.7k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.27% of their portfolio | 4.8m $92.0m | Added +896.3k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.38% of their portfolio | 4.8m $91.6m | Added +18.3k |
| PNC Financial Services Group, Inc. 0.08% of their portfolio | 4.8m $91.5m | Reduced -149.6k |
| VICTORY CAPITAL MANAGEMENT INC 0.10% of their portfolio | 4.7m $91.1m | Reduced -3.4m |
| FRANKLIN RESOURCES INC 0.05% of their portfolio | 4.7m $91.0m | Reduced -212.5k |
| Drexel Morgan & Co. 22.39% of their portfolio | 4.6m $88.8m | Reduced -2.0m |
| AMERICAN CENTURY COMPANIES INC 0.07% of their portfolio | 4.6m $88.6m | Added +399.0k |
| STOREBRAND ASSET MANAGEMENT AS 0.43% of their portfolio | 4.4m $84.3m | Added +32.9k |
| LETKO, BROSSEAU & ASSOCIATES INC 1.54% of their portfolio | 4.3m $82.1m | Added +3.9k |
| State of New Jersey Common Pension Fund D 0.29% of their portfolio | 4.2m $81.4m | Added +29.7k |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ 0.61% of their portfolio | 4.2m $81.0m | Reduced -33.5k |
| Chevy Chase Trust Holdings, LLC 0.32% of their portfolio | 4.2m $80.4m | Added +43.7k |