ANHEUSER BUSCH INBEV SA/NV BUD
SPONSORED ADR · ADR · CUSIP 03524A108 · ISIN US03524A1088
Belgian-Brazilian multinational beverage and brewing company
- SectorConsumer staples
- IndustryMalt Beverages
- HeadquartersBrussels, Belgium
- Founded1977
- Websiteab-inbev.com
- FilingsSEC EDGAR
* 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 ($17.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $68.71. Options: 27 managers hold calls ($597.2m notional), 22 hold puts ($382.1m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 462 |
| Q4 2022 | 510 |
| Q1 2023 | 502 |
| Q2 2023 | 489 |
| Q3 2023 | 480 |
| Q4 2023 | 515 |
| Q1 2024 | 531 |
| Q2 2024 | 509 |
| Q3 2024 | 518 |
| Q4 2024 | 485 |
| Q1 2025 | 498 |
| Q2 2025 | 516 |
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 | 223 | 215 |
| Q4 2023 | 238 | 219 |
| Q1 2024 | 267 | 227 |
| Q2 2024 | 232 | 243 |
| Q3 2024 | 234 | 240 |
| Q4 2024 | 185 | 287 |
| Q1 2025 | 250 | 224 |
| Q2 2025 | 242 | 229 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $529.5m | $258.9m | 0.49 |
| Q4 2024 | $682.1m | $268.3m | 0.39 |
| Q1 2025 | $626.8m | $334.1m | 0.53 |
| Q2 2025 | $597.2m | $382.1m | 0.64 |
Biggest buyers
| FMR LLC | Added | +5.4m |
| GOLDMAN SACHS GROUP INC | Added | +715.9k |
| CITIGROUP INC | Added | +675.5k |
| BANK OF AMERICA CORP /DE/ | Added | +641.2k |
| VICTORY CAPITAL MANAGEMENT INC | New | +539.2k |
| Holocene Advisors, LP | New | +494.7k |
| Fisher Asset Management, LLC | Added | +454.6k |
| JANE STREET GROUP, LLC | Added | +301.0k |
| RENAISSANCE TECHNOLOGIES LLC | Added | +279.1k |
| Balyasny Asset Management L.P. | New | +260.9k |
Biggest sellers
| Dodge & Cox | Reduced | -2.6m |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | Reduced | -1.6m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -1.4m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -840.8k |
| CITADEL ADVISORS LLC | Reduced | -832.3k |
| Artisan Partners Limited Partnership | Reduced | -827.7k |
| Capital International Investors | Reduced | -760.1k |
| Long Focus Capital Management, LLC | Sold out | -580.0k |
| Clarkston Capital Partners, LLC | Reduced | -463.5k |
| BARCLAYS PLC | Reduced | -452.1k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $109.0m1.6m shares |
| CITADEL ADVISORS LLC | Added | $90.6m1.3m shares |
| Optiver Holding B.V. | Reduced | $82.5m1.2m shares |
| JANE STREET GROUP, LLC | Added | $59.4m864.4k shares |
| Long Focus Capital Management, LLC | Reduced | $54.7m795.6k shares |
| BARCLAYS PLC | Added | $48.0m698.0k shares |
| Point72 Asset Management, L.P. | Reduced | $27.7m403.5k shares |
| IMC-Chicago, LLC | Added | $19.7m287.1k shares |
| UBS Group AG | Added | $18.7m272.8k shares |
| SIMPLEX TRADING, LLC | Reduced | $17.5m254.7k shares |
Biggest puts
| CITADEL ADVISORS LLC | Reduced | $103.4m1.5m shares |
| Optiver Holding B.V. | Reduced | $97.0m1.4m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $61.9m900.3k shares |
| UBS Group AG | Added | $15.0m218.3k shares |
| BARCLAYS PLC | Added | $13.8m201.0k shares |
| JANE STREET GROUP, LLC | Added | $12.1m175.9k shares |
| SIMPLEX TRADING, LLC | Added | $11.7m170.5k shares |
| IMC-Chicago, LLC | Reduced | $9.7m141.1k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $8.7m127.2k shares |
| LMR Partners LLP | Added | $7.9m114.8k 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 |
|---|---|
| BRC S.a.R.L. 13D · may seek influence filed 2026-05-15 | 52.3% |
| ALTRIA GROUP, INC. 13D · may seek influence filed 2025-02-07 | 51.9% |
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.
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| Dodge & Cox 1.49% of their portfolio | 38.5m $2.6bn | Reduced -2.6m |
| Fisher Asset Management, LLC 0.29% of their portfolio | 10.7m $732.8m | Added +454.6k |
| FMR LLC 0.03% of their portfolio | 7.0m $478.0m | Added +5.4m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.42% of their portfolio | 6.9m $474.3m | Reduced -322.4k |
| ROYAL BANK OF CANADA 0.03% of their portfolio | 4.1m $279.3m | Added +112.0k |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 3.3m $229.8m | Added +641.2k |
| MORGAN STANLEY 0.01% of their portfolio | 2.7m $183.1m | Reduced -178.4k |
| DAVENPORT & Co LLC 0.81% of their portfolio | 2.1m $147.3m | Reduced -16.6k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 2.0m $139.8m | Added +715.9k |
| GATES FOUNDATION TRUST 0.24% of their portfolio | 1.7m $117.0m | Unchanged |
| Capital International Investors 0.02% of their portfolio | 1.6m $109.4m | Reduced -760.1k |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.27% of their portfolio | 1.2m $84.6m | Reduced -1.6m |
| RENAISSANCE TECHNOLOGIES LLC 0.11% of their portfolio | 1.2m $82.5m | Added +279.1k |
| Clarkston Capital Partners, LLC 1.51% of their portfolio | 1.0m $71.1m | Reduced -463.5k |
| Seafarer Capital Partners, LLC 19.12% of their portfolio | 1.0m $70.0m | Unchanged |
| NORTHERN TRUST CORP 0.01% of their portfolio | 1.0m $69.3m | Added +40.5k |
| Douglas Lane & Associates, LLC 0.97% of their portfolio | 970.2k $66.7m | Reduced -60.7k |
| BlackRock, Inc. 0.00% of their portfolio | 866.8k $59.6m | Added +166.9k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 854.0k $58.7m | Reduced -27.0k |
| RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio | 829.7k $57.0m | Reduced -100.2k |
| CITIGROUP INC 0.03% of their portfolio | 697.6k $47.9m | Added +675.5k |
| CAUSEWAY CAPITAL MANAGEMENT LLC 0.70% of their portfolio | 647.5k $44.5m | Reduced -44.4k |
| Alberta Investment Management Corp 0.30% of their portfolio | 560.0k $38.5m | Reduced -203.8k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 554.3k $38.1m | Reduced -80.3k |
| VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio | 539.2k $37.1m | New |
| Holocene Advisors, LP 0.08% of their portfolio | 494.7k $34.0m | New |
| BANK OF MONTREAL /CAN/ 0.02% of their portfolio | 474.5k $32.6m | Added +57.4k |
| PENN DAVIS MCFARLAND INC 3.60% of their portfolio | 465.7k $32.0m | Reduced -5.0k |
| Optiver Holding B.V. 0.85% of their portfolio | 459.0k $31.5m | Added +198.4k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.02% of their portfolio | 457.0k $31.4m | Reduced -1.4m |
| Walleye Trading LLC 0.75% of their portfolio | 446.7k $30.7m | Added +192.4k |
| Artisan Partners Limited Partnership 0.04% of their portfolio | 427.7k $29.4m | Reduced -827.7k |
| HBK INVESTMENTS L P 0.50% of their portfolio | 412.7k $28.4m | Unchanged |
| Cook & Bynum Capital Management, LLC 21.94% of their portfolio | 403.9k $27.8m | Unchanged |
| Capco Asset Management, LLC 5.83% of their portfolio | 403.0k $27.7m | Reduced -3.1k |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 374.2k $25.7m | Reduced -832.3k |
| FIRST MANHATTAN CO. LLC. 0.07% of their portfolio | 354.9k $24.4m | Reduced -82.2k |
| UBS Group AG 0.01% of their portfolio | 353.7k $24.3m | Reduced -297.9k |
| SEI INVESTMENTS CO 0.03% of their portfolio | 349.0k $24.0m | Reduced -2.7k |
| JANE STREET GROUP, LLC 0.04% of their portfolio | 342.0k $23.5m | Added +301.0k |
| MARSHALL WACE, LLP 0.03% of their portfolio | 337.3k $23.2m | Added +212.3k |
| GREAT LAKES ADVISORS, LLC 0.16% of their portfolio | 282.5k $19.4m | Reduced -6.3k |
| Balyasny Asset Management L.P. 0.04% of their portfolio | 260.9k $17.9m | New |
| EVERETT HARRIS & CO /CA/ 0.22% of their portfolio | 244.1k $16.8m | Added +3.4k |
| Invesco Ltd. 0.00% of their portfolio | 235.5k $16.2m | Added +164.4k |
| NATIXIS ADVISORS, LLC 0.02% of their portfolio | 215.6k $14.8m | Added +62.3k |
| LPL Financial LLC 0.00% of their portfolio | 212.2k $14.6m | Added +15.1k |
| CAPITAL FUND MANAGEMENT S.A. 0.15% of their portfolio | 198.8k $13.7m | Added +66.7k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 194.7k $13.4m | Reduced -3.8k |
| THOMPSON SIEGEL & WALMSLEY LLC 0.23% of their portfolio | 194.1k $13.3m | Reduced -16.1k |
| Perpetual Ltd 0.16% of their portfolio | 194.1k $13.3m | Reduced -16.1k |
| FAIRVIEW CAPITAL INVESTMENT MANAGEMENT, LLC 0.66% of their portfolio | 186.5k $12.8m | Added +11.6k |
| Point72 Asset Management, L.P. 0.03% of their portfolio | 175.0k $12.0m | Reduced -41.9k |
| Freestone Grove Partners LP 0.08% of their portfolio | 156.8k $10.8m | Reduced -8.3k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 155.7k $10.7m | Added +154.6k |
| US BANCORP \DE\ 0.01% of their portfolio | 151.5k $10.4m | Added +14.0k |
| Pathstone Holdings, LLC 0.04% of their portfolio | 138.8k $9.5m | Reduced -10.9k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 132.9k $9.1m | Reduced -10.1k |
| TUDOR INVESTMENT CORP ET AL 0.07% of their portfolio | 131.5k $9.0m | Added +11.7k |
| Quantinno Capital Management LP 0.04% of their portfolio | 126.2k $8.7m | Added +33.4k |
| Pinnacle Financial Partners Inc 0.18% of their portfolio | 124.9k $8.6m | Added +86.8k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 123.8k $8.5m | Reduced -208.5k |
| Fayez Sarofim & Co 0.02% of their portfolio | 116.4k $8.0m | Reduced -700 |
| LMR Partners LLP 0.12% of their portfolio | 116.0k $8.0m | New |
| Clearbridge Investments, LLC 0.01% of their portfolio | 114.2k $7.9m | Added +5.5k |
| Curi Capital, LLC 0.15% of their portfolio | 114.0k $7.9m | Added +721 |
| Creative Planning 0.01% of their portfolio | 108.1k $7.4m | Added +22.1k |
| Ally Financial Inc. 0.82% of their portfolio | 105.0k $7.2m | Unchanged |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 102.8k $7.1m | Added +94.5k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 102.2k $7.0m | Reduced -840.8k |
| OSAIC HOLDINGS, INC. 0.01% of their portfolio | 101.9k $6.7m | Added +47.3k |
| ABC ARBITRAGE SA 0.80% of their portfolio | 101.6k $7.0m | Added +73.5k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 100.6k $6.9m | Reduced -5.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 98.9k $6.8m | Added +19.3k |
| QRG CAPITAL MANAGEMENT, INC. 0.06% of their portfolio | 93.7k $6.4m | Added +6.7k |
| Callan Family Office, LLC 0.20% of their portfolio | 93.5k $6.4m | Added +66.4k |
| NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio | 92.8k $6.4m | Added +59.5k |
| Hillman Capital Management, Inc. 3.27% of their portfolio | 87.1k $6.0m | Reduced -16.8k |
| Tower Research Capital LLC (TRC) 0.16% of their portfolio | 85.1k $5.8m | Added +66.4k |
| Ironwood Investment Counsel, LLC 0.90% of their portfolio | 84.5k $5.8m | Added +1.0k |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.04% of their portfolio | 84.4k $5.8m | Added +36.7k |
| Ethic Inc. 0.10% of their portfolio | 81.6k $5.6m | Reduced -4.4k |
| MERCER GLOBAL ADVISORS INC /ADV 0.01% of their portfolio | 80.9k $5.6m | Added +2.6k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio | 77.1k $5.3m | Added +19.6k |
| Squarepoint Ops LLC 0.01% of their portfolio | 77.0k $5.3m | Reduced -32.8k |
| HRT FINANCIAL LP 0.03% of their portfolio | 70.2k $4.8m | Reduced -24.9k |
| Heron Bay Capital Management 0.94% of their portfolio | 69.4k $4.8m | Reduced -22.5k |
| CAPSTONE INVESTMENT ADVISORS, LLC 0.04% of their portfolio | 68.8k $4.7m | New |
| STIFEL FINANCIAL CORP 0.00% of their portfolio | 68.6k $4.7m | Reduced -21.0k |
| Buttonwood Financial Advisors Inc. 1.89% of their portfolio | 68.5k $4.7m | Reduced -6.6k |
| Azimuth Capital Investment Management LLC 0.17% of their portfolio | 67.8k $4.7m | New |
| Bank of New York Mellon Corp 0.00% of their portfolio | 67.3k $4.6m | Added +2.0k |
| Mariner, LLC 0.01% of their portfolio | 66.4k $4.6m | Added +29.2k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 64.0k $4.4m | Reduced -72.4k |
| MML INVESTORS SERVICES, LLC 0.01% of their portfolio | 62.0k $4.3m | Reduced -976 |
| SUMMIT SECURITIES GROUP LLC 1.52% of their portfolio | 61.7k $4.2m | New |
| Baird Financial Group, Inc. 0.01% of their portfolio | 58.1k $4.0m | Reduced -1.2k |
| ASSETMARK, INC 0.01% of their portfolio | 57.4k $3.9m | Added +5.9k |
| Cerity Partners LLC 0.01% of their portfolio | 55.0k $3.8m | Reduced -3.8k |
| Sanctuary Advisors, LLC 0.02% of their portfolio | 54.6k $3.7m | Reduced -8.2k |