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 ($496.4m this quarter). Holder counts are more reliable. Shares outstanding: 7.2bn as of 2025-01-31, 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 ≈ $22.74. Options: 51 managers hold calls ($1.1bn notional), 53 hold puts ($892.6m).
Trends to Q4 2024
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 |
| Q3 2023 | 2,298 |
| Q4 2023 | 2,452 |
| Q1 2024 | 2,418 |
| Q2 2024 | 2,401 |
| Q3 2024 | 2,450 |
| Q4 2024 | 2,683 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2023 | 1,203 | 1,067 |
| Q2 2023 | 1,075 | 1,258 |
| Q3 2023 | 914 | 1,377 |
| Q4 2023 | 920 | 1,311 |
| Q1 2024 | 1,101 | 1,204 |
| Q2 2024 | 1,057 | 1,206 |
| Q3 2024 | 1,089 | 1,225 |
| Q4 2024 | 1,194 | 1,128 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2024 | $1.1bn | $803.1m | 0.76 |
| Q2 2024 | $1.2bn | $731.1m | 0.61 |
| Q3 2024 | $1.3bn | $871.4m | 0.65 |
| Q4 2024 | $1.1bn | $892.6m | 0.80 |
Biggest buyers
| GQG Partners LLC | Added | +26.3m |
| MACKENZIE FINANCIAL CORP | Added | +17.8m |
| Point72 Asset Management, L.P. | New | +15.6m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Added | +12.9m |
| CITADEL ADVISORS LLC | Added | +11.4m |
| MORGAN STANLEY | Added | +11.4m |
| NORTHERN TRUST CORP | Added | +10.9m |
| ASSETMARK, INC | Added | +9.7m |
| Invesco Ltd. | Added | +7.3m |
| Allianz Asset Management GmbH | Added | +7.1m |
Biggest sellers
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -24.4m |
| JPMORGAN CHASE & CO | Reduced | -19.0m |
| FMR LLC | Reduced | -15.6m |
| BARCLAYS PLC | Reduced | -14.9m |
| STATE OF MICHIGAN RETIREMENT SYSTEM | Reduced | -11.6m |
| Pale Fire Capital SE | Sold out | -9.6m |
| GOLDMAN SACHS GROUP INC | Reduced | -7.3m |
| BlackRock, Inc. | Reduced | -7.1m |
| BANK OF AMERICA CORP /DE/ | Reduced | -6.6m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -6.5m |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $364.8m16.0m shares |
| CITADEL ADVISORS LLC | Added | $229.0m10.1m shares |
| SIMPLEX TRADING, LLC | Reduced | $82.7m3.6m shares |
| JANE STREET GROUP, LLC | Reduced | $51.8m2.3m shares |
| IMC-Chicago, LLC | Reduced | $39.1m1.7m shares |
| BNP PARIBAS FINANCIAL MARKETS | Reduced | $33.9m14.9k shares |
| UBS Group AG | Added | $25.1m1.1m shares |
| Squarepoint Ops LLC | Reduced | $24.7m1.1m shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $21.4m938.2k shares |
| Qube Research & Technologies Ltd | Reduced | $19.5m858.1k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $190.7m8.4m shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $84.1m3.7m shares |
| Qube Research & Technologies Ltd | Added | $81.7m3.6m shares |
| CITADEL ADVISORS LLC | Reduced | $54.2m2.4m shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | Added | $53.2m2.3m shares |
| BNP PARIBAS FINANCIAL MARKETS | Added | $49.2m21.6k shares |
| BARCLAYS PLC | Added | $37.1m1.6m shares |
| SIMPLEX TRADING, LLC | Added | $32.3m1.4m shares |
| Squarepoint Ops LLC | Reduced | $29.3m1.3m shares |
| UBS Group AG | Added | $27.3m1.2m 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 Q4 2024
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 |
|---|---|---|---|---|---|
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 0 | — | — |
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 1 | $971.9k | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
None reported in Q4 2024.
Holders, Q4 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.25% of their portfolio | 642.9m $14.6bn | Added +6.2m |
| BlackRock, Inc. 0.25% of their portfolio | 546.9m $12.5bn | Reduced -7.1m |
| STATE STREET CORP 0.29% of their portfolio | 322.9m $7.4bn | Added +6.8m |
| Newport Trust Company, LLC 10.61% of their portfolio | 192.2m $4.4bn | Reduced -2.1m |
| GEODE CAPITAL MANAGEMENT, LLC 0.29% of their portfolio | 163.8m $3.7bn | Added +2.6m |
| GQG Partners LLC 3.27% of their portfolio | 96.8m $2.2bn | Added +26.3m |
| MORGAN STANLEY 0.15% of their portfolio | 96.7m $2.2bn | Added +11.4m |
| Bank of New York Mellon Corp 0.36% of their portfolio | 85.6m $1.9bn | Added +5.6m |
| NORGES BANK 0.24% of their portfolio | 81.6m $1.9bn | Added +4.6m |
| NORTHERN TRUST CORP 0.25% of their portfolio | 78.1m $1.8bn | Added +10.9m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 1.07% of their portfolio | 58.5m $1.3bn | Reduced -24.4m |
| Capital World Investors 0.20% of their portfolio | 57.4m $1.3bn | Added +2.8m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.28% of their portfolio | 53.4m $1.2bn | Added +12.9m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.22% of their portfolio | 53.1m $1.2bn | Added +415.0k |
| BANK OF AMERICA CORP /DE/ 0.11% of their portfolio | 52.5m $1.2bn | Reduced -6.6m |
| DIMENSIONAL FUND ADVISORS LP 0.28% of their portfolio | 52.0m $1.2bn | Added +3.0m |
| AMERIPRISE FINANCIAL INC 0.30% of their portfolio | 51.8m $1.2bn | Reduced -649.7k |
| GOLDMAN SACHS GROUP INC 0.21% of their portfolio | 48.8m $1.1bn | Reduced -7.3m |
| JPMORGAN CHASE & CO 0.09% of their portfolio | 48.2m $1.1bn | Reduced -19.0m |
| Legal & General Group Plc 0.29% of their portfolio | 47.9m $1.1bn | Reduced -190.5k |
| Invesco Ltd. 0.20% of their portfolio | 47.7m $1.1bn | Added +7.3m |
| FMR LLC 0.06% of their portfolio | 45.4m $1.0bn | Reduced -15.6m |
| ROYAL BANK OF CANADA 0.22% of their portfolio | 44.6m $1.0bn | Added +3.7m |
| Nuveen Asset Management, LLC 0.26% of their portfolio | 40.1m $912.4m | Reduced -562.5k |
| Amundi 0.26% of their portfolio | 34.0m $753.3m | Added +5.6m |
| UBS Group AG 0.15% of their portfolio | 29.7m $676.2m | Added +3.0m |
| THORNBURG INVESTMENT MANAGEMENT INC 8.30% of their portfolio | 27.6m $628.3m | Added +652.2k |
| LSV ASSET MANAGEMENT 1.44% of their portfolio | 27.5m $625.3m | Reduced -1.8m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.07% of their portfolio | 26.1m $593.8m | Reduced -4.0m |
| CITADEL ADVISORS LLC 0.54% of their portfolio | 25.9m $589.2m | Added +11.4m |
| California Public Employees Retirement System 0.38% of their portfolio | 25.2m $574.3m | Reduced -4.2m |
| DEUTSCHE BANK AG\ 0.22% of their portfolio | 25.1m $571.6m | Added +2.0m |
| RAYMOND JAMES FINANCIAL INC 0.21% of their portfolio | 25.0m $569.9m | First filing |
| Pacer Advisors, Inc. 1.23% of their portfolio | 24.6m $560.9m | Reduced -808.0k |
| STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 0.50% of their portfolio | 24.1m $549.8m | Unchanged |
| MACKENZIE FINANCIAL CORP 0.22% of their portfolio | 21.8m $494.3m | Added +17.8m |
| Swiss National Bank 0.31% of their portfolio | 20.3m $461.2m | Reduced -1.0m |
| ALLIANCEBERNSTEIN L.P. 0.14% of their portfolio | 18.6m $424.3m | Added +5.3m |
| AQR CAPITAL MANAGEMENT LLC 0.52% of their portfolio | 17.9m $407.4m | Reduced -4.4m |
| Sumitomo Mitsui Trust Group, Inc. 0.27% of their portfolio | 17.5m $399.5m | Added +325.1k |
| Allianz Asset Management GmbH 0.55% of their portfolio | 16.5m $376.3m | Added +7.1m |
| HSBC HOLDINGS PLC 0.22% of their portfolio | 15.9m $362.6m | Added +614.2k |
| National Pension Service 0.34% of their portfolio | 15.7m $357.5m | Reduced -69.0k |
| Point72 Asset Management, L.P. 0.97% of their portfolio | 15.6m $355.5m | New |
| WELLS FARGO & COMPANY/MN 0.08% of their portfolio | 15.5m $352.9m | Reduced -687.8k |
| BNP PARIBAS FINANCIAL MARKETS 0.25% of their portfolio | 14.4m $328.9m | Added +966.6k |
| RHUMBLINE ADVISERS 0.28% of their portfolio | 13.5m $307.5m | Reduced -148.0k |
| BANK OF MONTREAL /CAN/ 0.15% of their portfolio | 13.1m $298.1m | Reduced -2.2m |
| BARCLAYS PLC 0.15% of their portfolio | 13.0m $296.2m | Reduced -14.9m |
| ENVESTNET ASSET MANAGEMENT INC 0.09% of their portfolio | 12.3m $281.1m | Reduced -178.4k |
| Russell Investments Group, Ltd. 0.38% of their portfolio | 12.0m $274.2m | Added +2.0m |
| FEDERATED HERMES, INC. 0.59% of their portfolio | 11.7m $267.2m | Reduced -2.5m |
| Robeco Institutional Asset Management B.V. 0.51% of their portfolio | 11.7m $266.9m | Reduced -510.4k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.25% of their portfolio | 11.4m $258.5m | Added +930.3k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.30% of their portfolio | 11.3m $256.5m | Reduced -532.5k |
| Contour Asset Management LLC 7.31% of their portfolio | 11.1m $252.6m | Added +2.3m |
| Brandywine Global Investment Management, LLC 1.72% of their portfolio | 10.4m $236.5m | Reduced -861.0k |
| MACQUARIE GROUP LTD 0.21% of their portfolio | 10.3m $176.5m | Added +3.0m |
| LPL Financial LLC 0.09% of their portfolio | 10.2m $231.2m | Added +752.6k |
| Caisse de depot et placement du Quebec 0.48% of their portfolio | 10.1m $229.4m | Reduced -1.3m |
| ASSETMARK, INC 0.61% of their portfolio | 9.9m $225.7m | Added +9.7m |
| VOYA INVESTMENT MANAGEMENT LLC 0.23% of their portfolio | 9.8m $223.9m | Reduced -750.1k |
| CANADA LIFE ASSURANCE Co 0.37% of their portfolio | 9.5m $216.9m | Added +1.9m |
| AustralianSuper Pty Ltd 0.99% of their portfolio | 9.3m $210.9m | Unchanged |
| NEW YORK STATE COMMON RETIREMENT FUND 0.27% of their portfolio | 8.8m $200.0m | Added +106.0k |
| FRANKLIN RESOURCES INC 0.06% of their portfolio | 8.7m $197.5m | Added +725.8k |
| EQUITY INVESTMENT CORP 4.62% of their portfolio | 8.7m $197.0m | Reduced -277.9k |
| STATE OF MICHIGAN RETIREMENT SYSTEM 1.00% of their portfolio | 8.5m $192.8m | Reduced -11.6m |
| PRINCIPAL FINANCIAL GROUP INC 0.10% of their portfolio | 8.3m $189.3m | Added +5.6k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.32% of their portfolio | 8.2m $185.8m | Added +1.4m |
| Ensign Peak Advisors, Inc 0.30% of their portfolio | 7.5m $170.4m | Added +32.3k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.16% of their portfolio | 7.4m $169.4m | Added +2.7m |
| Mitsubishi UFJ Trust & Banking Corp 0.39% of their portfolio | 7.3m $166.6m | Reduced -106.6k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.32% of their portfolio | 7.3m $165.7m | Reduced -168.5k |
| MARSHALL WACE, LLP 0.20% of their portfolio | 7.1m $160.7m | New |
| Cullen Capital Management, LLC 1.86% of their portfolio | 7.0m $160.1m | Reduced -235.6k |
| AMERICAN CENTURY COMPANIES INC 0.09% of their portfolio | 6.9m $157.3m | Added +521.4k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.33% of their portfolio | 6.9m $156.2m | Reduced -235.6k |
| PRUDENTIAL FINANCIAL INC 0.21% of their portfolio | 6.8m $155.3m | Reduced -2.9m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.13% of their portfolio | 6.8m $155.3m | Added +35.8k |
| BANK OF NOVA SCOTIA 0.27% of their portfolio | 6.7m $153.3m | Added +403.3k |
| TD Asset Management Inc 0.13% of their portfolio | 6.6m $150.6m | Reduced -852.2k |
| Balyasny Asset Management L.P. 0.35% of their portfolio | 6.5m $148.7m | Added +6.2m |
| Bridgewater Associates, LP 0.68% of their portfolio | 6.5m $147.5m | Added +5.2m |
| FIRST TRUST ADVISORS LP 0.13% of their portfolio | 6.3m $142.5m | Reduced -409.6k |
| MILLENNIUM MANAGEMENT LLC 0.12% of their portfolio | 6.2m $142.0m | Reduced -6.5m |
| D. E. Shaw & Co., Inc. 0.16% of their portfolio | 6.2m $141.8m | Reduced -1.1m |
| STOREBRAND ASSET MANAGEMENT AS 0.43% of their portfolio | 6.2m $141.7m | Added +491.2k |
| NATIONAL BANK OF CANADA /FI/ 0.18% of their portfolio | 6.0m $136.3m | Added +547.5k |
| NORDEA INVESTMENT MANAGEMENT AB 0.14% of their portfolio | 5.7m $129.7m | Reduced -3.7m |
| Rockefeller Capital Management L.P. 0.33% of their portfolio | 5.7m $128.9m | Reduced -1.7m |
| NEUBERGER BERMAN GROUP LLC 0.10% of their portfolio | 5.6m $126.4m | Added +520.5k |
| CI INVESTMENTS INC. 0.47% of their portfolio | 5.5m $124.9m | Reduced -46.9k |
| Korea Investment CORP 0.29% of their portfolio | 5.4m $122.3m | Added +798.6k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.12% of their portfolio | 5.3m $120.3m | Added +2.1m |
| Drexel Morgan & Co. 24.06% of their portfolio | 5.1m $116.7m | Unchanged |
| TRUIST FINANCIAL CORP 0.18% of their portfolio | 5.1m $116.6m | Added +46.9k |
| Public Sector Pension Investment Board 0.47% of their portfolio | 4.9m $112.4m | Added +1.7m |
| APG Asset Management N.V. 0.30% of their portfolio | 4.8m $106.6m | Added +3.8m |
| Lansforsakringar Fondforvaltning AB (publ) 0.42% of their portfolio | 4.8m $109.9m | First filing |