Vault-13

BRITISH AMERN TOB PLC BTI

SPONSORED ADR · ADR · CUSIP 110448107 · ISIN US1104481072

551 institutional holders -3 vs Q3 2023
142,425,183142.4m shares reported held*
$4.2bnreported value*
56 new 163 added 234 reduced 79 sold out net sold ≈ $85.4m (-2.9m shares)

* 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 ($2.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $29.30. Options: 27 managers hold calls ($129.7m notional), 21 hold puts ($150.4m).

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 535Q4 22: 586Q1 23: 574Q2 23: 573Q3 23: 554Q4 23: 551551Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 2022535
Q4 2022586
Q1 2023574
Q2 2023573
Q3 2023554
Q4 2023551

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
4000400Q4 22: 307 bought or addedQ4 22: 220 cut or sold outQ4 22Q1 23: 323 bought or addedQ1 23: 229 cut or sold outQ1 23Q2 23: 263 bought or addedQ2 23: 283 cut or sold outQ2 23Q3 23: 271 bought or addedQ3 23: 231 cut or sold outQ3 23Q4 23: 219 bought or addedQ4 23: 313 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022307220
Q1 2023323229
Q2 2023263283
Q3 2023271231
Q4 2023219313

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$50m$100m$150m$200mQ1 23 calls: $89.6mQ1 23 puts: $143.9mQ1 23P/C 1.61Q2 23 calls: $125.1mQ2 23 puts: $185.1mQ2 23P/C 1.48Q3 23 calls: $121.4mQ3 23 puts: $166.5mQ3 23P/C 1.37Q4 23 calls: $129.7mQ4 23 puts: $150.4mQ4 23P/C 1.16
Numbers
QuarterCallsPutsP/C
Q1 2023$89.6m$143.9m1.61
Q2 2023$125.1m$185.1m1.48
Q3 2023$121.4m$166.5m1.37
Q4 2023$129.7m$150.4m1.16

Biggest buyers

Capital Research Global Investors Added +4,259,548+4.3m
Orbis Allan Gray Ltd Added +1,228,907+1.2m
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Added +904,719+904.7k
JPMORGAN CHASE & CO Added +897,447+897.4k
CITADEL ADVISORS LLC Added +618,311+618.3k
ICICI Prudential Asset Management Co Ltd Added +399,359+399.4k
Pacer Advisors, Inc. Added +366,692+366.7k
NATIXIS ADVISORS, LLC Added +276,890+276.9k
Morningstar Investment Services LLC New +210,332+210.3k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +204,691+204.7k

Biggest sellers

Invesco Ltd. Sold out -2,266,100-2.3m
Optiver Holding B.V. Sold out -1,363,640-1.4m
BlackRock Inc. Reduced -1,281,954-1.3m
BANK OF AMERICA CORP /DE/ Reduced -1,189,524-1.2m
Cullen Capital Management, LLC Reduced -945,201-945.2k
Capital International Investors Reduced -739,926-739.9k
TWO SIGMA INVESTMENTS, LP Reduced -638,087-638.1k
FEDERATED HERMES, INC. Reduced -595,484-595.5k
GOLDMAN SACHS GROUP INC Reduced -593,973-594.0k
MAGNOLIA GROUP, LLC Sold out -416,452-416.5k

Biggest calls

Optiver Holding B.V. Reduced $21.4m729.4k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $15.5m527.5k shares
CITADEL ADVISORS LLC Reduced $15.0m512.5k shares
Twin Tree Management, LP Added $14.3m488.8k shares
UBS Group AG Added $13.4m457.5k shares
SIMPLEX TRADING, LLC Added $9.4m322.2k shares
GROUP ONE TRADING LLC Added $8.5m289.0k shares
JANE STREET GROUP, LLC New $6.5m222.0k shares
Cubist Systematic Strategies, LLC Added $4.5m154.5k shares
DRW Securities, LLC New $3.8m129.2k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $33.9m1.2m shares
Optiver Holding B.V. Reduced $26.4m902.0k shares
CITADEL ADVISORS LLC Reduced $20.0m682.5k shares
D. E. Shaw & Co., Inc. Reduced $13.9m475.0k shares
SIMPLEX TRADING, LLC Added $13.4m458.5k shares
GROUP ONE TRADING LLC Added $8.2m279.4k shares
CAPITAL FUND MANAGEMENT S.A. Added $7.8m267.0k shares
UBS Group AG New $5.9m200.0k shares
Twin Tree Management, LP New $5.6m191.2k shares
GTS SECURITIES LLC Reduced $4.1m139.4k 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.

Insider purchases and sales in Q4 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.

None reported in Q4 2023.

Holders, Q4 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Capital International Investors 0.14% of their portfolio Los Angeles, CA 21,586,07921.6m $632.0m $632.0m 0.14% Reduced -739.9k -739,926
2 BlackRock Inc. 0.01% of their portfolio New York, NY 17,486,31117.5m $512.2m $512.2m 0.01% Reduced -1.3m -1,281,954
3 Capital Research Global Investors 0.11% of their portfolio Los Angeles, CA 15,316,68815.3m $448.6m $448.6m 0.11% Added +4.3m +4,259,548
4 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 8,269,3148.3m $242.2m $242.2m 0.01% Added +139.9k +139,871
5 Orbis Allan Gray Ltd 1.46% of their portfolio HamiltoN, D0 7,948,9907.9m $232.8m $232.8m 1.46% Added +1.2m +1,228,907
6 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 3,908,2203.9m $114.5m $114.5m 0.01% Reduced -1.2m -1,189,524
7 Capital World Investors 0.02% of their portfolio LOS ANGELES, CA 3,822,7223.8m $112.0m $112.0m 0.02% Reduced -3.3k -3,266
8 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 3,763,2323.8m $110.2m $110.2m 0.01% Added +897.4k +897,447
9 Newport Trust Company, LLC 0.25% of their portfolio Washington, DC 3,190,1543.2m $93.4m $93.4m 0.25% Reduced -125.4k -125,376
10 FEDERATED HERMES, INC. 0.20% of their portfolio PITTSBURGH, PA 2,739,1602.7m $80.2m $80.2m 0.20% Reduced -595.5k -595,484
11 RAYMOND JAMES & ASSOCIATES 0.05% of their portfolio ST PETERSBURG, FL 2,421,8672.4m $70.9m $70.9m 0.05% Reduced -241.3k -241,308
12 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 2,349,8602.3m $68.8m $68.8m 0.02% Reduced -352.8k -352,777
13 ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio Berwyn, PA 2,306,2752.3m $67.6m $67.6m 0.03% Reduced -262.0k -262,010
14 Grantham, Mayo, Van Otterloo & Co. LLC 0.29% of their portfolio Boston, MA 2,228,6982.2m $65.3m $65.3m 0.29% Added +113.7k +113,691
15 TWO SIGMA ADVISERS, LP 0.15% of their portfolio NEW YORK, NY 2,218,1002.2m $65.0m $65.0m 0.15% Reduced -97.5k -97,500
16 NATIXIS ADVISORS, LLC 0.16% of their portfolio Boston, MA 2,099,9692.1m $61.5m $61.5m 0.16% Added +276.9k +276,890
17 Pacer Advisors, Inc. 0.15% of their portfolio Malvern, PA 1,845,7881.8m $54.1m $54.1m 0.15% Added +366.7k +366,692
18 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 1,825,6631.8m $53.5m $53.5m 0.01% Reduced -4.0k -3,956
19 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 1,717,2051.7m $50.3m $50.3m 0.01% Reduced -594.0k -593,973
20 NORTHERN TRUST CORP 0.01% of their portfolio CHICAGO, IL 1,552,1741.6m $45.5m $45.5m 0.01% Reduced -123.2k -123,242
21 FMR LLC 0.00% of their portfolio BOSTON, MA 1,466,9011.5m $43.0m $43.0m 0.00% Reduced -30.3k -30,261
22 ICICI Prudential Asset Management Co Ltd 4.75% of their portfolio MUMBAI, K7 1,394,1291.4m $40.8m $40.8m 4.75% Added +399.4k +399,359
23 TWO SIGMA INVESTMENTS, LP 0.09% of their portfolio NEW YORK, NY 1,304,5821.3m $38.2m $38.2m 0.09% Reduced -638.1k -638,087
24 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,094,4251.1m $32.1m $32.1m 0.02% Reduced -78.3k -78,338
25 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 1,042,0341.0m $31.3m $31.3m 0.00% Added +2.3k +2,289
26 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.03% of their portfolio BOSTON, MA 931,244931.2k $27.3m $27.3m 0.03% Added +904.7k +904,719
27 DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio AUSTIN, TX 887,911887.9k $26.0m $26.0m 0.01% Added +37.4k +37,359
28 Prevatt Capital Ltd 8.73% of their portfolio NASSAU, C5 800,000800.0k $23.4m $23.4m 8.73% First filing
29 CITADEL ADVISORS LLC 0.02% of their portfolio MIAMI, FL 618,331618.3k $18.1m $18.1m 0.02% Added +618.3k +618,311
30 Euro Pacific Asset Management, LLC 3.89% of their portfolio DORADO, PR 615,738615.7k $18.2m $18.2m 3.89% Reduced -2.4k -2,398
31 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.03% of their portfolio BALA CYNWYD, PA 587,556587.6k $17.2m $17.2m 0.03% Added +204.7k +204,691
32 UBS Group AG 0.01% of their portfolio ZURICH, V8 580,307580.3k $17.0m $17.0m 0.01% Reduced -3.6k -3,616
33 CAUSEWAY CAPITAL MANAGEMENT LLC 0.41% of their portfolio LOS ANGELES, CA 556,299556.3k $16.3m $16.3m 0.41% Reduced -3.9k -3,866
34 TRUIST FINANCIAL CORP 0.02% of their portfolio CHARLOTTE, NC 515,828515.8k $15.1m $15.1m 0.02% Reduced -127.2k -127,247
35 First Eagle Investment Management, LLC 0.04% of their portfolio NEW YORK, NY 507,157507.2k $14.9m $14.9m 0.04% Added +26.9k +26,931
36 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 480,296480.3k $14.1m $14.1m 0.02% Reduced -73.8k -73,774
37 INVESTMENT MANAGEMENT ASSOCIATES INC /ADV 4.64% of their portfolio GREENWOOD VILLAGE, CO 409,936409.9k $12.0m $12.0m 4.64% Reduced -1.2k -1,184
38 CIBC WORLD MARKET INC. 0.03% of their portfolio TORONTO, A6 403,193403.2k $11.8m $11.8m 0.03% Added +65.3k +65,344
39 OSAIC HOLDINGS, INC. 0.02% of their portfolio SCOTTSDALE, AZ 390,427390.4k $11.4m $11.4m 0.02% Reduced -177.6k -177,602
40 Adams Asset Advisors, LLC 1.37% of their portfolio DALLAS, TX 348,504348.5k $10.2m $10.2m 1.37% Added +117.2k +117,173
41 Cullen Capital Management, LLC 0.15% of their portfolio New York, NY 348,364348.4k $10.2m $10.2m 0.15% Reduced -945.2k -945,201
42 CREDIT SUISSE AG/ 0.01% of their portfolio ZURICH, V8 348,250348.2k $10.2m $10.2m 0.01% Reduced -25.3k -25,316
43 CAPITAL FUND MANAGEMENT S.A. 0.12% of their portfolio PARIS, I0 326,990327.0k $9.6m $9.6m 0.12% Added +177.0k +176,988
44 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 318,409318.4k $9.3m $9.3m 0.02% Reduced -43.7k -43,653
45 EPACRIA CAPITAL PARTNERS, LLC 7.31% of their portfolio BOULDER, CO 300,831300.8k $9.1m $9.1m 7.31% Added +2.6k +2,650
46 ASSETMARK, INC 0.03% of their portfolio CONCORD, CA 292,584292.6k $8.6m $8.6m 0.03% Added +16.8k +16,847
47 U.S. Capital Wealth Advisors, LLC 0.31% of their portfolio AUSTIN, TX 265,591265.6k $7.8m $7.8m 0.31% Reduced -22.7k -22,707
48 Dupree Financial Group, LLC 3.80% of their portfolio LEXINGTON, KY 264,980265.0k $7.8m $7.8m 3.80% First filing
49 GW HENSSLER & ASSOCIATES LTD 0.50% of their portfolio KENNESAW, GA 257,405257.4k $7.5m $7.5m 0.50% Reduced -26.1k -26,127
50 Bulltick Wealth Management, LLC 1.55% of their portfolio Miami, FL 225,111225.1k $6.8m $6.8m 1.55% Added +45.1k +45,071
51 Privium Fund Management (UK) Ltd 4.46% of their portfolio LONDON, X0 224,303224.3k $6.6m $6.6m 4.46% Added +193.2k +193,212
52 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 216,194216.2k $6.3m $6.3m 0.01% Reduced -405.8k -405,790
53 TODD ASSET MANAGEMENT LLC 0.14% of their portfolio Louisville, KY 210,639210.6k $6.2m $6.2m 0.14% Reduced -110.8k -110,760
54 Morningstar Investment Services LLC 0.03% of their portfolio CHICAGO, IL 210,332210.3k $6.1m $6.1m 0.03% New
55 Altrius Capital Management Inc 1.71% of their portfolio NEW BERN, NC 209,811209.8k $6.1m $6.1m 1.71% Added +21.8k +21,817
56 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 186,609186.6k $5.5m $5.5m 0.00% Reduced -50.9k -50,889
57 FINANCIAL COUNSELORS INC 0.10% of their portfolio Overland Park, KS 184,912184.9k $5.4m $5.4m 0.10% Reduced -21.9k -21,891
58 Keystone Financial Planning, Inc. 1.75% of their portfolio CLEVELAND, OH 180,489180.5k $5.3m $5.3m 1.75% Unchanged
59 GATEWAY INVESTMENT ADVISERS LLC 0.06% of their portfolio CINCINNATI, OH 177,349177.3k $5.2m $5.2m 0.06% Added +93.1k +93,128
60 VIKING FUND MANAGEMENT LLC 1.01% of their portfolio MINOT, ND 176,800176.8k $5.2m $5.2m 1.01% Added +16.0k +16,000
61 Manning & Napier Group, LLC 0.06% of their portfolio Fairport, NY 176,325176.3k $5.2m $5.2m 0.06% Reduced -4.4k -4,447
62 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.07% of their portfolio Stamford, CT 175,308175.3k $5.1m $5.1m 0.07% Added +70.3k +70,288
63 Moran Wealth Management, LLC 0.18% of their portfolio NAPLES, FL 170,458170.5k $5.0m $5.0m 0.18% New
64 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 169,324169.3k $4.9m $4.9m 0.00% Reduced -4.7k -4,693
65 SEI INVESTMENTS CO 0.01% of their portfolio OAKS, PA 164,841164.8k $4.8m $4.8m 0.01% Reduced -33.1k -33,140
66 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 164,435164.4k $4.8m $4.8m 0.02% Added +22.1k +22,076
67 Virtu Financial LLC 0.38% of their portfolio New York, NY 163,280163.3k $4.8m $4.8m 0.38% Added +119.8k +119,778
68 VALICENTI ADVISORY SERVICES INC 1.43% of their portfolio ELMIRA, NY 160,899160.9k $4.7m $4.7m 1.43% Reduced -7.2k -7,152
69 AUXIER ASSET MANAGEMENT LLC 0.75% of their portfolio AURORA, OR 159,167159.2k $4.7m $4.7m 0.75% Reduced -3.2k -3,243
70 Squarepoint Ops LLC 0.02% of their portfolio NEW YORK, NY 153,212153.2k $4.5m $4.5m 0.02% Added +121.6k +121,553
71 Cubist Systematic Strategies, LLC 0.06% of their portfolio STAMFORD, CT 152,950152.9k $4.5m $4.5m 0.06% New
72 GROUP ONE TRADING LLC 0.14% of their portfolio CHICAGO, IL 148,094148.1k $4.3m $4.3m 0.14% Added +43.8k +43,797
73 SILVERCREST ASSET MANAGEMENT GROUP LLC 0.03% of their portfolio NEW YORK, NY 147,173147.2k $4.3m $4.3m 0.03% Added +1.3k +1,268
74 Insight Folios Inc 1.86% of their portfolio Charlotte, NC 146,824146.8k $4.3m $4.3m 1.86% Added +12.8k +12,790
75 Kennon-Green & Company, LLC 4.35% of their portfolio NEW ALBANY, OH 145,940145.9k $4.3m $4.3m 4.35% Reduced -27.4k -27,435
76 Cetera Advisor Networks LLC 0.02% of their portfolio EL SEGUNDO, CA 145,744145.7k $4.3m $4.3m 0.02% Reduced -18.5k -18,485
77 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 141,232141.2k $4.1m $4.1m 0.01% Reduced -37.8k -37,834
78 Inlet Private Wealth, LLC 1.26% of their portfolio Jupiter, FL 139,933139.9k $4.1m $4.1m 1.26% Added +26.9k +26,920
79 TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.04% of their portfolio FRANKFORT, KY 138,920138.9k $4.1m $4.1m 0.04% Reduced -64.9k -64,900
80 HENNESSY ADVISORS INC 0.20% of their portfolio NOVATO, CA 138,200138.2k $4.0m $4.0m 0.20% Reduced -7.9k -7,900
81 CALIFORNIA FIRST LEASING CORP 2.13% of their portfolio NEWPORT BEACH, CA 136,700136.7k $4.0m $4.0m 2.13% Unchanged
82 MILLER HOWARD INVESTMENTS INC /NY 0.14% of their portfolio KINGSTON, NY 135,000135.0k $4.0m $4.0m 0.14% Unchanged
83 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 134,220134.2k $3.9m $3.9m 0.00% Added +69.5k +69,541
84 NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio MONTREAL, A8 132,390132.4k $3.9m $3.9m 0.01% Added +4.3k +4,268
85 Pathstone Holdings, LLC 0.02% of their portfolio ENGLEWOOD, NJ 126,844126.8k $3.7m $3.7m 0.02% First filing
86 QRG CAPITAL MANAGEMENT, INC. 0.06% of their portfolio BERWYN, PA 126,768126.8k $3.7m $3.7m 0.06% Reduced -1.7k -1,728
87 LOGAN CAPITAL MANAGEMENT INC 0.17% of their portfolio Newtown Square, PA 126,127126.1k $3.7m $3.7m 0.17% Added +8.4k +8,354
88 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 125,718125.7k $3.7m $3.7m 0.00% Added +92.9k +92,867
89 Zions Bancorporation, N.A. 0.25% of their portfolio SALT LAKE CITY, UT 125,406125.4k $3.7m $3.7m 0.25% Reduced -599 -599
90 MERITAGE PORTFOLIO MANAGEMENT 0.24% of their portfolio OVERLAND PARK, KS 124,982125.0k $3.7m $3.7m 0.24% Reduced -1.4k -1,361
91 OPPENHEIMER ASSET MANAGEMENT INC. 0.05% of their portfolio NEW YORK, NY 122,807122.8k $3.6m $3.6m 0.05% Reduced -17.6k -17,629
92 Raymond James Financial Services Advisors, Inc. 0.01% of their portfolio ST. PETERSBURG, FL 119,901119.9k $3.5m $3.5m 0.01% Reduced -31.3k -31,320
93 Greylin Investment Management, Inc 0.59% of their portfolio ORANGE, VA 117,395117.4k $3.4m $3.4m 0.59% Added +19.5k +19,486
94 Foundations Investment Advisors, LLC 0.09% of their portfolio PHOENIX, AZ 116,585116.6k $3.5m $3.5m 0.09% Added +10.4k +10,415
95 Walleye Trading LLC 0.05% of their portfolio NEW YORK, NY 115,246115.2k $3.4m $3.4m 0.05% Added +76.8k +76,773
96 Qube Research & Technologies Ltd 0.01% of their portfolio LONDON, X0 113,337113.3k $3.3m $3.3m 0.01% Added +54.6k +54,554
97 MOTCO 0.21% of their portfolio SAN ANTONIO, TX 111,273111.3k $3.3m $3.3m 0.21% Reduced -33.0k -32,959
98 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.00% of their portfolio Boston, MA 107,884107.9k $3.2m $3.2m 0.00% Added +41.5k +41,464
99 Poehling Capital Management, INC. 0.99% of their portfolio MADISON, WI 107,130107.1k $3.1m $3.1m 0.99% Reduced -19.1k -19,093
100 Susquehanna International Securities, Ltd. 2.27% of their portfolio DUBLIN, L2 106,537106.5k $3.1m $3.1m 2.27% New