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 ($269.5m this quarter). Holder counts are more reliable. Shares outstanding: 7.1bn as of 2023-07-24, 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 ≈ $16.02. Options: 57 managers hold calls ($870.7m notional), 53 hold puts ($725.1m).
Trends to Q2 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 2,324 |
| Q4 2022 | 2,424 |
| Q1 2023 | 2,404 |
| Q2 2023 | 2,405 |
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 |
| Q2 2023 | 1,075 | 1,258 |
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 |
| Q2 2023 | $870.7m | $725.1m | 0.83 |
Biggest buyers
| BlackRock Inc. | Added | +11.6m |
| BARCLAYS PLC | Added | +10.0m |
| STATE STREET CORP | Added | +9.8m |
| NORGES BANK | Added | +7.7m |
| FEDERATED HERMES, INC. | Added | +7.3m |
| RENAISSANCE TECHNOLOGIES LLC | New | +5.8m |
| TORONTO DOMINION BANK | Added | +5.7m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +5.7m |
| ROYAL BANK OF CANADA | Added | +5.6m |
| VANGUARD GROUP INC | Added | +5.3m |
Biggest sellers
| FMR LLC | Reduced | -36.3m |
| CITADEL ADVISORS LLC | Reduced | -25.3m |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -15.4m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -13.0m |
| BANK OF AMERICA CORP /DE/ | Reduced | -12.2m |
| Nuveen Asset Management, LLC | Reduced | -8.3m |
| Capital World Investors | Sold out | -7.8m |
| OFI INVEST ASSET MANAGEMENT | Reduced | -7.6m |
| GOLDMAN SACHS GROUP INC | Reduced | -7.5m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -7.2m |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $309.1m19.4m shares |
| CITADEL ADVISORS LLC | Reduced | $85.1m5.3m shares |
| UBS Group AG | Added | $45.7m2.9m shares |
| Parallax Volatility Advisers, L.P. | Added | $35.9m2.3m shares |
| JANE STREET GROUP, LLC | Reduced | $33.6m2.1m shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $29.5m1.9m shares |
| GOLDMAN SACHS GROUP INC | Reduced | $27.1m1.7m shares |
| Point72 Middle East FZE | Added | $23.3m1.5m shares |
| CMT Capital Markets Trading GmbH | Reduced | $23.1m1.5m shares |
| BANK OF AMERICA CORP /DE/ | Added | $22.6m1.4m shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $283.7m17.8m shares |
| CITADEL ADVISORS LLC | Added | $72.2m4.5m shares |
| SIMPLEX TRADING, LLC | Reduced | $33.8m2.4m shares |
| BANK OF AMERICA CORP /DE/ | Added | $32.4m2.0m shares |
| JANE STREET GROUP, LLC | Added | $31.1m2.0m shares |
| Parallax Volatility Advisers, L.P. | Added | $23.4m1.5m shares |
| D. E. Shaw & Co., Inc. | Added | $19.0m1.2m shares |
| Point72 Middle East FZE | Added | $18.9m1.2m shares |
| IMC-Chicago, LLC | Added | $18.8m1.2m shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $18.4m1.2m 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 Q2 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 |
|---|---|---|---|---|---|
| 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 | — | — |
| Q2 2023 | 0 | — | 0 | — | — |
None reported in Q2 2023.
Holders, Q2 2023
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.23% of their portfolio | 620.3m $9.9bn | Added +5.3m |
| BlackRock Inc. 0.24% of their portfolio | 534.8m $8.5bn | Added +11.6m |
| STATE STREET CORP 0.25% of their portfolio | 297.1m $4.7bn | Added +9.8m |
| Newport Trust Company, LLC 9.28% of their portfolio | 199.3m $3.2bn | Added +2.7m |
| GEODE CAPITAL MANAGEMENT, LLC 0.26% of their portfolio | 138.2m $2.2bn | Added +3.8m |
| MORGAN STANLEY 0.15% of their portfolio | 97.1m $1.5bn | Reduced -7.0m |
| NORTHERN TRUST CORP 0.22% of their portfolio | 73.3m $1.2bn | Reduced -3.2m |
| NORGES BANK 0.21% of their portfolio | 67.3m $1.1bn | Added +7.7m |
| Bank of New York Mellon Corp 0.20% of their portfolio | 59.9m $956.0m | Reduced -3.4m |
| Legal & General Group Plc 0.27% of their portfolio | 52.1m $830.8m | Added +1.4m |
| BANK OF AMERICA CORP /DE/ 0.10% of their portfolio | 51.2m $817.1m | Reduced -12.2m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.23% of their portfolio | 49.5m $789.0m | Reduced -1.2m |
| DIMENSIONAL FUND ADVISORS LP 0.25% of their portfolio | 48.5m $773.0m | Reduced -3.9m |
| ROYAL BANK OF CANADA 0.20% of their portfolio | 45.3m $722.7m | Added +5.6m |
| FEDERATED HERMES, INC. 1.48% of their portfolio | 37.5m $597.7m | Added +7.3m |
| GOLDMAN SACHS GROUP INC 0.15% of their portfolio | 37.4m $596.9m | Reduced -7.5m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.31% of their portfolio | 32.8m $631.3m | Unchanged |
| DEUTSCHE BANK AG\ 0.27% of their portfolio | 31.8m $507.5m | Added +392.5k |
| Nuveen Asset Management, LLC 0.16% of their portfolio | 29.2m $465.1m | Reduced -8.3m |
| LSV ASSET MANAGEMENT 1.01% of their portfolio | 28.8m $460.0m | Reduced -605.7k |
| Invesco Ltd. 0.11% of their portfolio | 27.3m $434.8m | Reduced -1.4m |
| JPMORGAN CHASE & CO 0.05% of their portfolio | 26.8m $427.6m | Added +4.3m |
| Swiss National Bank 0.28% of their portfolio | 25.8m $410.7m | Reduced -2.5m |
| California Public Employees Retirement System 0.34% of their portfolio | 25.0m $399.4m | Reduced -750.6k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.06% of their portfolio | 25.0m $398.7m | Reduced -7.2m |
| FMR LLC 0.03% of their portfolio | 25.0m $398.1m | Reduced -36.3m |
| STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 0.38% of their portfolio | 24.2m $385.5m | Unchanged |
| UBS Group AG 0.15% of their portfolio | 21.5m $343.5m | Reduced -983.0k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.41% of their portfolio | 21.3m $339.7m | Added +5.7m |
| Amundi 0.17% of their portfolio | 20.5m $330.1m | Reduced -5.6m |
| WELLS FARGO & COMPANY/MN 0.09% of their portfolio | 20.1m $320.9m | Added +62.8k |
| BARCLAYS PLC 0.21% of their portfolio | 20.1m $320.4m | Added +10.0m |
| Caisse de depot et placement du Quebec 0.80% of their portfolio | 19.0m $302.4m | Added +1.9m |
| AMERIPRISE FINANCIAL INC 0.09% of their portfolio | 18.4m $294.1m | Reduced -428.6k |
| Sumitomo Mitsui Trust Group, Inc. 0.22% of their portfolio | 17.8m $283.3m | Reduced -2.6m |
| NORDEA INVESTMENT MANAGEMENT AB 0.37% of their portfolio | 17.2m $274.0m | Added +3.2m |
| Robeco Institutional Asset Management B.V. 0.71% of their portfolio | 16.9m $269.2m | Reduced -417.8k |
| PRUDENTIAL FINANCIAL INC 0.35% of their portfolio | 15.1m $240.1m | Added +1.7m |
| STATE OF MICHIGAN RETIREMENT SYSTEM 1.41% of their portfolio | 14.4m $229.2m | Added +1.2m |
| D. E. Shaw & Co., Inc. 0.35% of their portfolio | 14.2m $225.8m | Added +4.1m |
| RHUMBLINE ADVISERS 0.25% of their portfolio | 14.1m $225.3m | Added +174.3k |
| RAYMOND JAMES & ASSOCIATES 0.17% of their portfolio | 13.2m $211.0m | Added +1.1m |
| National Pension Service 0.32% of their portfolio | 12.6m $201.3m | Added +681.3k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.27% of their portfolio | 12.0m $191.1m | Reduced -254.3k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.24% of their portfolio | 11.6m $185.6m | Reduced -324.0k |
| HSBC HOLDINGS PLC 0.20% of their portfolio | 11.6m $185.1m | Added +1.0m |
| BANK OF MONTREAL /CAN/ 0.13% of their portfolio | 11.4m $365.8m | Reduced -271.5k |
| VOYA INVESTMENT MANAGEMENT LLC 0.18% of their portfolio | 11.0m $174.9m | Added +944.2k |
| ENVESTNET ASSET MANAGEMENT INC 0.08% of their portfolio | 11.0m $174.7m | Reduced -5.2m |
| Ensign Peak Advisors, Inc 0.34% of their portfolio | 10.6m $169.3m | Reduced -150.1k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.27% of their portfolio | 10.4m $165.4m | Added +2.5m |
| AQR CAPITAL MANAGEMENT LLC 0.35% of their portfolio | 10.3m $164.4m | Reduced -2.2m |
| CREDIT SUISSE AG/ 0.16% of their portfolio | 10.0m $159.4m | Reduced -1.1m |
| Allianz Asset Management GmbH 0.32% of their portfolio | 9.9m $158.3m | Reduced -4.2m |
| TORONTO DOMINION BANK 0.11% of their portfolio | 9.6m $152.9m | Added +5.7m |
| LPL Financial LLC 0.11% of their portfolio | 9.4m $149.6m | Added +1.0m |
| Sessa Capital IM, L.P. 7.28% of their portfolio | 9.2m $146.3m | Reduced -375.0k |
| ALLIANCEBERNSTEIN L.P. 0.06% of their portfolio | 8.7m $139.2m | Reduced -2.6m |
| Point72 Asset Management, L.P. 0.47% of their portfolio | 8.5m $135.9m | Reduced -1.1m |
| CI INVESTMENTS INC. 0.66% of their portfolio | 8.2m $131.0m | Reduced -3.1m |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.29% of their portfolio | 8.2m $130.5m | Reduced -89.9k |
| BNP PARIBAS FINANCIAL MARKETS 0.25% of their portfolio | 8.1m $129.1m | Added +3.2m |
| PRINCIPAL FINANCIAL GROUP INC 0.09% of their portfolio | 8.1m $128.6m | Reduced -236.1k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.28% of their portfolio | 7.9m $125.6m | Reduced -322.3k |
| Brandywine Global Investment Management, LLC 1.01% of their portfolio | 7.6m $121.3m | Reduced -6.8m |
| CITADEL ADVISORS LLC 0.13% of their portfolio | 7.5m $120.1m | Reduced -25.3m |
| CANADA LIFE ASSURANCE Co 0.28% of their portfolio | 7.4m $117.8m | Reduced -816.5k |
| TD Asset Management Inc 0.13% of their portfolio | 7.3m $116.0m | Reduced -817.8k |
| CITIGROUP INC 0.14% of their portfolio | 6.9m $109.7m | Reduced -1.6m |
| EQUITY INVESTMENT CORP 3.38% of their portfolio | 6.8m $109.2m | Reduced -209.6k |
| Mitsubishi UFJ Trust & Banking Corp 0.25% of their portfolio | 6.7m $106.1m | Reduced -142.9k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.06% of their portfolio | 6.5m $103.1m | Added +326.4k |
| MILLENNIUM MANAGEMENT LLC 0.11% of their portfolio | 6.4m $102.7m | Reduced -13.0m |
| Cullen Capital Management, LLC 0.90% of their portfolio | 6.3m $101.0m | Reduced -582.4k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.22% of their portfolio | 6.3m $100.8m | Reduced -2.3m |
| Epoch Investment Partners, Inc. 0.58% of their portfolio | 6.3m $100.2m | Added +1.1m |
| Capital Research Global Investors 0.03% of their portfolio | 6.2m $98.6m | Added +3.9m |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.20% of their portfolio | 6.1m $97.8m | Added +454.9k |
| COMMERZBANK AKTIENGESELLSCHAFT /FI 4.70% of their portfolio | 6.0m $95.9m | Added +4.0m |
| BANK OF NOVA SCOTIA 0.25% of their portfolio | 6.0m $94.8m | Added +3.0m |
| APG Asset Management N.V. 0.17% of their portfolio | 5.9m $86.3m | Added +4.0m |
| RENAISSANCE TECHNOLOGIES LLC 0.13% of their portfolio | 5.8m $92.5m | New |
| STIFEL FINANCIAL CORP 0.13% of their portfolio | 5.8m $92.3m | Added +6.9k |
| Russell Investments Group, Ltd. 0.17% of their portfolio | 5.5m $88.5m | Added +529.3k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.40% of their portfolio | 5.3m $85.0m | Added +3.8m |
| AustralianSuper Pty Ltd 0.52% of their portfolio | 5.1m $82.0m | New |
| AMERICAN CENTURY COMPANIES INC 0.06% of their portfolio | 5.1m $81.2m | Added +486.6k |
| OREGON PUBLIC EMPLOYEES RETIREMENT FUND 0.94% of their portfolio | 5.0m $79.0m | Added +1.1m |
| OSAIC HOLDINGS, INC. 0.14% of their portfolio | 4.9m $78.0m | Reduced -171.7k |
| Drexel Morgan & Co. 19.94% of their portfolio | 4.8m $76.9m | Added +204.5k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.15% of their portfolio | 4.7m $75.7m | Reduced -226.5k |
| VICTORY CAPITAL MANAGEMENT INC 0.08% of their portfolio | 4.7m $74.6m | Reduced -55.1k |
| NATIONAL BANK OF CANADA /FI/ 0.15% of their portfolio | 4.6m $74.3m | Added +1.1m |
| WESTWOOD HOLDINGS GROUP INC 0.66% of their portfolio | 4.6m $73.3m | Reduced -1.9m |
| STOREBRAND ASSET MANAGEMENT AS 0.33% of their portfolio | 4.5m $72.1m | Added +141.9k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.20% of their portfolio | 4.5m $71.0m | Reduced -326.4k |
| PNC Financial Services Group, Inc. 0.06% of their portfolio | 4.4m $70.9m | Reduced -303.2k |
| Connor, Clark & Lunn Investment Management Ltd. 0.35% of their portfolio | 4.4m $70.4m | Added +2.4m |
| LETKO, BROSSEAU & ASSOCIATES INC 1.28% of their portfolio | 4.3m $68.6m | Added +37.6k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.27% of their portfolio | 4.2m $67.7m | Reduced -516.5k |