ALCOA CORP AA
COM · Common Stock · CUSIP 013872106 · ISIN US0138721065
Producer of aluminum
* 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 ($6.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $29.52. Options: 33 managers hold calls ($310.9m notional), 30 hold puts ($404.1m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 504 |
| Q4 2022 | 500 |
| Q1 2023 | 515 |
| Q2 2023 | 450 |
| Q3 2023 | 416 |
| Q4 2023 | 457 |
| Q1 2024 | 441 |
| Q2 2024 | 487 |
| Q3 2024 | 486 |
| Q4 2024 | 527 |
| Q1 2025 | 515 |
| Q2 2025 | 475 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 187 | 233 |
| Q4 2023 | 217 | 196 |
| Q1 2024 | 205 | 204 |
| Q2 2024 | 231 | 198 |
| Q3 2024 | 282 | 193 |
| Q4 2024 | 262 | 196 |
| Q1 2025 | 263 | 237 |
| Q2 2025 | 241 | 261 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $488.1m | $490.9m | 1.01 |
| Q4 2024 | $540.8m | $546.7m | 1.01 |
| Q1 2025 | $323.3m | $309.9m | 0.96 |
| Q2 2025 | $310.9m | $404.1m | 1.30 |
Biggest buyers
| L1 Capital Pty Ltd | Added | +3.1m |
| DIMENSIONAL FUND ADVISORS LP | Added | +3.0m |
| Point72 Asset Management, L.P. | New | +2.4m |
| UBS Group AG | Added | +1.5m |
| Drummond Knight Asset Management Pty Ltd | New | +1.5m |
| Assenagon Asset Management S.A. | New | +1.5m |
| ROYAL BANK OF CANADA | Added | +1.1m |
| CAPSTONE INVESTMENT ADVISORS, LLC | New | +959.4k |
| STATE STREET CORP | Added | +959.2k |
| MACKENZIE FINANCIAL CORP | Added | +861.4k |
Biggest sellers
| Slate Path Capital LP | Sold out | -2.7m |
| ANTIPODES PARTNERS Ltd | Sold out | -1.7m |
| MARSHALL WACE, LLP | Reduced | -1.1m |
| VOYA INVESTMENT MANAGEMENT LLC | Reduced | -1.0m |
| MASTERS CAPITAL MANAGEMENT LLC | Sold out | -1.0m |
| TWO SIGMA INVESTMENTS, LP | Reduced | -708.6k |
| Balyasny Asset Management L.P. | Reduced | -697.9k |
| DEUTSCHE BANK AG\ | Reduced | -667.3k |
| Trexquant Investment LP | Sold out | -610.2k |
| JANE STREET GROUP, LLC | Reduced | -552.0k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $55.0m1.9m shares |
| CITADEL ADVISORS LLC | Added | $40.5m1.4m shares |
| JANE STREET GROUP, LLC | Added | $30.7m1.0m shares |
| MASTERS CAPITAL MANAGEMENT LLC | Unchanged | $29.5m1.0m shares |
| PEAK6 LLC | Added | $15.3m517.4k shares |
| Thomist Capital Management, LP | New | $13.4m447.1k shares |
| IMC-Chicago, LLC | Added | $12.6m425.6k shares |
| Squarepoint Ops LLC | Added | $11.5m390.6k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $11.1m376.9k shares |
| JPMORGAN CHASE & CO | Added | $11.1m376.2k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $86.2m2.9m shares |
| CITADEL ADVISORS LLC | Reduced | $52.2m1.8m shares |
| JANE STREET GROUP, LLC | Added | $35.3m1.2m shares |
| UBS Group AG | Added | $32.3m1.1m shares |
| Walleye Trading LLC | Added | $23.0m779.2k shares |
| SIMPLEX TRADING, LLC | Added | $16.4m556.6k shares |
| Twin Tree Management, LP | Added | $15.3m518.8k shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $11.4m385.3k shares |
| JPMORGAN CHASE & CO | Added | $11.1m375.0k shares |
| IMC-Chicago, LLC | Added | $11.0m372.5k 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 |
|---|---|
| BlackRock, Inc. 13G · institution filed 2025-04-17 | 9.0% |
| FMR LLC 13G · institution new · filed 2026-08-06 | 6.4% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.5% |
Fell to 5% or below in the last year: EAGLE CAPITAL MANAGEMENT LLC (4.5%, 2026-08-14), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC), Allan Gray Australia Pty Ltd (4.7%, 2026-02-17)
Insider purchases and sales in Q2 2025
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 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 1 | $858.8k | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 1 | $1.0m | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.01% of their portfolio | 25.5m $753.3m | Reduced -125.7k |
| BlackRock, Inc. 0.01% of their portfolio | 24.3m $717.7m | Added +256.2k |
| EAGLE CAPITAL MANAGEMENT LLC 1.60% of their portfolio | 16.4m $485.3m | Reduced -136.2k |
| STATE STREET CORP 0.01% of their portfolio | 10.7m $316.9m | Added +959.2k |
| DIMENSIONAL FUND ADVISORS LP 0.07% of their portfolio | 9.8m $289.1m | Added +3.0m |
| MORGAN STANLEY 0.01% of their portfolio | 5.7m $167.5m | Added +772.8k |
| L1 Capital Pty Ltd 8.59% of their portfolio | 4.8m $142.1m | Added +3.1m |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 4.6m $136.9m | Added +211.1k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 4.0m $119.1m | Added +525.4k |
| UBS Group AG 0.02% of their portfolio | 3.6m $106.6m | Added +1.5m |
| CITADEL ADVISORS LLC 0.09% of their portfolio | 3.5m $103.6m | Added +657.8k |
| NORGES BANK 0.01% of their portfolio | 3.3m $97.9m | Added +369.6k |
| ARGA Investment Management, LP 2.44% of their portfolio | 3.0m $89.1m | Added +83.4k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 3.0m $87.2m | Added +626.6k |
| Sourcerock Group LLC 4.51% of their portfolio | 2.9m $86.6m | Reduced -168.3k |
| Point72 Asset Management, L.P. 0.17% of their portfolio | 2.4m $72.1m | New |
| NORTHERN TRUST CORP 0.01% of their portfolio | 2.1m $62.5m | Reduced -308.8k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 2.1m $60.7m | Reduced -113.7k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 2.0m $58.6m | Added +85.5k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.10% of their portfolio | 1.8m $53.2m | Added +88.8k |
| RENAISSANCE TECHNOLOGIES LLC 0.06% of their portfolio | 1.6m $48.5m | Added +781.8k |
| MACKENZIE FINANCIAL CORP 0.06% of their portfolio | 1.6m $46.3m | Added +861.4k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 1.5m $45.5m | Added +815.2k |
| Drummond Knight Asset Management Pty Ltd 14.31% of their portfolio | 1.5m $44.9m | New |
| Assenagon Asset Management S.A. 0.07% of their portfolio | 1.5m $44.2m | New |
| VOYA INVESTMENT MANAGEMENT LLC 0.04% of their portfolio | 1.3m $39.5m | Reduced -1.0m |
| MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio | 1.3m $39.2m | Reduced -238.2k |
| Douglas Lane & Associates, LLC 0.56% of their portfolio | 1.3m $38.6m | Reduced -92.3k |
| Squarepoint Ops LLC 0.08% of their portfolio | 1.2m $36.1m | Added +597.5k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 1.2m $35.3m | Added +1.1m |
| AQR CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 1.1m $31.0m | Added +298.4k |
| Global Alpha Capital Management Ltd. 1.81% of their portfolio | 985.9k $29.1m | Added +60.1k |
| Temasek Holdings (Private) Ltd 0.11% of their portfolio | 978.2k $28.9m | Added +336.8k |
| CAPSTONE INVESTMENT ADVISORS, LLC 0.24% of their portfolio | 959.4k $28.3m | New |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.04% of their portfolio | 866.1k $25.6m | Added +566.9k |
| VAN ECK ASSOCIATES CORP 0.03% of their portfolio | 796.7k $23.5m | Reduced -37.6k |
| Russell Investments Group, Ltd. 0.03% of their portfolio | 780.9k $23.0m | Added +20.3k |
| CITIGROUP INC 0.02% of their portfolio | 753.2k $22.2m | Added +230.4k |
| Holocene Advisors, LP 0.05% of their portfolio | 728.3k $21.5m | New |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 715.2k $21.1m | Added +498.8k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 710.5k $21.0m | Reduced -319.7k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 684.8k $20.2m | Reduced -12.9k |
| Verition Fund Management LLC 0.11% of their portfolio | 644.7k $19.0m | Added +267.0k |
| Invesco Ltd. 0.00% of their portfolio | 640.5k $18.9m | Added +12.0k |
| Capital World Investors 0.00% of their portfolio | 612.0k $18.1m | Unchanged |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 603.5k $17.8m | Reduced -463.0k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 587.1k $17.3m | Reduced -6.7k |
| Hosking Partners LLP 0.64% of their portfolio | 546.7k $16.1m | Reduced -10.7k |
| BARCLAYS PLC 0.01% of their portfolio | 530.2k $15.6m | Reduced -66.3k |
| Swiss National Bank 0.01% of their portfolio | 494.6k $14.6m | Reduced -5.9k |
| Nuveen, LLC 0.00% of their portfolio | 466.8k $13.8m | Reduced -298.4k |
| FEDERATED HERMES, INC. 0.03% of their portfolio | 466.0k $13.8m | Added +12.4k |
| Schonfeld Strategic Advisors LLC 0.10% of their portfolio | 458.6k $13.5m | Added +282.2k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.02% of their portfolio | 432.8k $12.8m | Added +6.5k |
| Senator Investment Group LP 0.48% of their portfolio | 422.8k $12.5m | Not comparable |
| Regal Partners Ltd 1.05% of their portfolio | 422.3k $12.5m | Added +99.5k |
| California Public Employees Retirement System 0.01% of their portfolio | 415.6k $12.3m | Added +49.2k |
| MACQUARIE GROUP LTD 0.01% of their portfolio | 412.3k $12.2m | Reduced -21.3k |
| Legal & General Group Plc 0.00% of their portfolio | 409.3k $12.1m | Added +10.0k |
| Amundi 0.00% of their portfolio | 408.6k $12.9m | Added +72.9k |
| Gotham Asset Management, LLC 0.07% of their portfolio | 389.4k $11.5m | Added +143.4k |
| JANE STREET GROUP, LLC 0.02% of their portfolio | 370.9k $10.9m | Reduced -552.0k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 340.1k $10.0m | Reduced -2.2k |
| HSBC HOLDINGS PLC 0.01% of their portfolio | 338.6k $9.9m | Added +157.6k |
| Jump Financial, LLC 0.12% of their portfolio | 329.6k $9.7m | Reduced -457.6k |
| MIRABELLA FINANCIAL SERVICES LLP 1.01% of their portfolio | 325.0k $9.6m | Reduced -75.0k |
| J. Goldman & Co LP 0.29% of their portfolio | 317.7k $9.4m | New |
| Retirement Systems of Alabama 0.03% of their portfolio | 316.4k $9.3m | Added +2.0k |
| HRT FINANCIAL LP 0.05% of their portfolio | 305.3k $9.0m | Added +180.6k |
| Mountaineer Partners Management, LLC 5.94% of their portfolio | 304.8k $9.0m | Added +38.8k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 287.8k $8.5m | Reduced -83.4k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 274.5k $8.1m | Reduced -266.5k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 270.0k $8.0m | Added +205.7k |
| Bridgewater Associates, LP 0.03% of their portfolio | 262.0k $7.7m | Reduced -261.0k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 260.7k $7.7m | Reduced -19.7k |
| Thomist Capital Management, LP 4.47% of their portfolio | 260.4k $7.4m | New |
| Kailix Advisors LLC 11.90% of their portfolio | 260.4k $7.7m | Reduced -29.1k |
| Empowered Funds, LLC 0.09% of their portfolio | 259.7k $7.7m | Added +252.6k |
| SummitTX Capital, L.P. 0.32% of their portfolio | 249.7k $7.4m | New |
| AXA S.A. 0.02% of their portfolio | 248.4k $7.3m | New |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 246.2k $7.3m | Added +712 |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 239.9k $7.1m | Reduced -667.3k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 236.6k $7.0m | Added +93.4k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 232.0k $6.8m | Reduced -414.6k |
| New Age Alpha Advisors, LLC 0.30% of their portfolio | 228.9k $6.8m | New |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 216.0k $6.4m | Added +40.9k |
| Thrivent Financial for Lutherans 0.01% of their portfolio | 212.2k $6.3m | Reduced -6.8k |
| Balyasny Asset Management L.P. 0.01% of their portfolio | 201.6k $6.0m | Reduced -697.9k |
| Wesleyan Assurance Society 0.39% of their portfolio | 201.6k $5.9m | Unchanged |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 199.4k $5.9m | Added +50.4k |
| PNC Financial Services Group, Inc. 0.00% of their portfolio | 192.7k $5.7m | Reduced -1.2k |
| Federation des caisses Desjardins du Quebec 0.02% of their portfolio | 190.0k $5.6m | Added +17.9k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 181.5k $5.4m | Added +1.7k |
| Walleye Trading LLC 0.13% of their portfolio | 174.8k $5.2m | Added +44.9k |
| TWO SIGMA ADVISERS, LP 0.01% of their portfolio | 166.9k $4.9m | Reduced -206.3k |
| BOOTHBAY FUND MANAGEMENT, LLC 0.14% of their portfolio | 155.9k $4.6m | Reduced -11.0k |
| Corecam Pte. Ltd. 2.53% of their portfolio | 151.9k $4.5m | Reduced -3.1k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 151.2k $4.5m | Reduced -4.2k |
| CoreCommodity Management, LLC 0.69% of their portfolio | 141.5k $4.2m | Added +59.7k |
| DRW Securities, LLC 0.29% of their portfolio | 139.8k $4.1m | Added +89.7k |