Vault-13

BRITISH AMERN TOB PLC BTI

SPONSORED ADR · ADR · CUSIP 110448107 · ISIN US1104481072

720 institutional holders +73 vs Q1 2025
261,773,392261.8m shares reported held*
$12.4bnreported value*
123 new 309 added 158 reduced 54 sold out net bought ≈ $2.6bn (+55.0m 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 ($15.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $47.28. Options: 31 managers hold calls ($414.4m notional), 28 hold puts ($337.4m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0250500750Q3 22: 535Q4 22: 586Q1 23: 574Q2 23: 573Q3 23: 554Q4 23: 551Q1 24: 573Q2 24: 564Q3 24: 610Q4 24: 620Q1 25: 647Q2 25: 720720Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022535
Q4 2022586
Q1 2023574
Q2 2023573
Q3 2023554
Q4 2023551
Q1 2024573
Q2 2024564
Q3 2024610
Q4 2024620
Q1 2025647
Q2 2025720

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q3 23: 271 bought or addedQ3 23: 231 cut or sold outQ4 23: 219 bought or addedQ4 23: 313 cut or sold outQ4 23Q1 24: 314 bought or addedQ1 24: 231 cut or sold outQ2 24: 312 bought or addedQ2 24: 242 cut or sold outQ2 24Q3 24: 341 bought or addedQ3 24: 235 cut or sold outQ4 24: 273 bought or addedQ4 24: 285 cut or sold outQ4 24Q1 25: 324 bought or addedQ1 25: 259 cut or sold outQ2 25: 432 bought or addedQ2 25: 212 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023271231
Q4 2023219313
Q1 2024314231
Q2 2024312242
Q3 2024341235
Q4 2024273285
Q1 2025324259
Q2 2025432212

Calls vs puts

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

CallsPuts
$0$200m$400m$600mQ3 24 calls: $168.8mQ3 24 puts: $262.2mQ3 24P/C 1.55Q4 24 calls: $155.0mQ4 24 puts: $269.2mQ4 24P/C 1.74Q1 25 calls: $207.8mQ1 25 puts: $273.9mQ1 25P/C 1.32Q2 25 calls: $414.4mQ2 25 puts: $337.4mQ2 25P/C 0.81
Numbers
QuarterCallsPutsP/C
Q3 2024$168.8m$262.2m1.55
Q4 2024$155.0m$269.2m1.74
Q1 2025$207.8m$273.9m1.32
Q2 2025$414.4m$337.4m0.81

Biggest buyers

GQG Partners LLC Added +14,083,378+14.1m
FEDERATED HERMES, INC. Added +3,315,589+3.3m
Capital Research Global Investors Added +3,200,350+3.2m
FMR LLC Added +3,167,170+3.2m
ROYAL BANK OF CANADA Added +3,127,337+3.1m
TWO SIGMA INVESTMENTS, LP Added +3,116,921+3.1m
TWO SIGMA ADVISERS, LP Added +2,816,500+2.8m
Orbis Allan Gray Ltd Added +2,482,737+2.5m
CITIGROUP INC Added +1,894,617+1.9m
WELLS FARGO & COMPANY/MN Added +1,846,084+1.8m

Biggest sellers

CITADEL ADVISORS LLC Reduced -3,459,697-3.5m
Pacer Advisors, Inc. Sold out -1,651,017-1.7m
BlackRock, Inc. Reduced -907,349-907.3k
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO Reduced -564,219-564.2k
Point72 Asset Management, L.P. Sold out -399,476-399.5k
UBS Group AG Reduced -380,784-380.8k
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Reduced -275,841-275.8k
HRT FINANCIAL LP Sold out -263,594-263.6k
CIBC WORLD MARKET INC. Reduced -258,624-258.6k
FIRST TRUST ADVISORS LP Reduced -227,200-227.2k

Biggest calls

PEAK6 LLC Added $106.9m2.3m shares
CITADEL ADVISORS LLC Reduced $70.6m1.5m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $39.4m831.8k shares
Optiver Holding B.V. Reduced $23.4m494.7k shares
D. E. Shaw & Co., Inc. Added $22.3m471.7k shares
SIMPLEX TRADING, LLC Added $21.8m459.9k shares
K2 PRINCIPAL FUND, L.P. New $18.5m390.0k shares
GROUP ONE TRADING LLC Reduced $16.8m354.8k shares
IMC-Chicago, LLC Added $14.2m300.0k shares
Twin Tree Management, LP Reduced $12.4m262.8k shares

Biggest puts

Optiver Holding B.V. Added $80.4m1.7m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $53.3m1.1m shares
PEAK6 LLC Added $34.0m719.0k shares
CITADEL ADVISORS LLC Reduced $31.7m669.2k shares
SIMPLEX TRADING, LLC Reduced $15.8m334.2k shares
Twin Tree Management, LP Reduced $13.0m274.0k shares
BARCLAYS PLC Unchanged $11.8m250.0k shares
UBS Group AG Reduced $11.5m243.8k shares
IMC-Chicago, LLC Added $10.1m212.6k shares
CAPSTONE INVESTMENT ADVISORS, LLC New $9.5m200.0k 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 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

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Capital International Investors 0.51% of their portfolio Los Angeles, CA 62,166,37762.2m $2.9bn $2.9bn 0.51% Added +815.9k +815,894
2 GQG Partners LLC 1.59% of their portfolio FT. LAUDERDALE, FL 23,681,84323.7m $1.1bn $1.1bn 1.59% Added +14.1m +14,083,378
3 Capital Research Global Investors 0.20% of their portfolio Los Angeles, CA 21,509,70221.5m $1.0bn $1.0bn 0.20% Added +3.2m +3,200,350
4 Orbis Allan Gray Ltd 3.34% of their portfolio HamiltoN, D0 14,503,96814.5m $686.5m $686.5m 3.34% Added +2.5m +2,482,737
5 FMR LLC 0.03% of their portfolio BOSTON, MA 12,258,54012.3m $580.2m $580.2m 0.03% Added +3.2m +3,167,170
6 BlackRock, Inc. 0.01% of their portfolio New York, NY 11,870,17211.9m $561.8m $561.8m 0.01% Reduced -907.3k -907,349
7 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 5,355,9325.4m $253.5m $253.5m 0.02% Added +1.4m +1,392,799
8 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 5,241,6705.2m $248.1m $248.1m 0.02% Added +486.1k +486,150
9 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 4,565,3224.6m $216.1m $216.1m 0.02% Added +3.1m +3,127,337
10 TWO SIGMA INVESTMENTS, LP 0.34% of their portfolio NEW YORK, NY 3,986,8714.0m $188.7m $188.7m 0.34% Added +3.1m +3,116,921
11 TWO SIGMA ADVISERS, LP 0.38% of their portfolio NEW YORK, NY 3,881,7003.9m $183.7m $183.7m 0.38% Added +2.8m +2,816,500
12 GOLDMAN SACHS GROUP INC 0.03% of their portfolio NEW YORK, NY 3,781,9673.8m $179.0m $179.0m 0.03% Added +22.2k +22,188
13 FEDERATED HERMES, INC. 0.31% of their portfolio PITTSBURGH, PA 3,476,0013.5m $164.5m $164.5m 0.31% Added +3.3m +3,315,589
14 Bridgewater Associates, LP 0.65% of their portfolio Westport, CT 3,409,0823.4m $161.4m $161.4m 0.65% Added +174.9k +174,926
15 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.11% of their portfolio BOSTON, MA 3,344,0603.3m $158.3m $158.3m 0.11% Reduced -275.8k -275,841
16 WELLS FARGO & COMPANY/MN 0.03% of their portfolio SAN FRANCISCO, CA 3,309,0253.3m $156.6m $156.6m 0.03% Added +1.8m +1,846,084
17 NATIXIS ADVISORS, LLC 0.23% of their portfolio Boston, MA 3,025,7833.0m $143.2m $143.2m 0.23% Added +31.5k +31,480
18 ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio Berwyn, PA 2,792,2582.8m $132.2m $132.2m 0.04% Added +1.3m +1,345,175
19 RAYMOND JAMES FINANCIAL INC 0.04% of their portfolio ST. PETERSBURG, FL 2,757,5592.8m $130.5m $130.5m 0.04% Added +1.3m +1,267,425
20 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 2,748,3242.7m $130.1m $130.1m 0.01% Added +1.8m +1,837,106
21 Newport Trust Company, LLC 0.31% of their portfolio Washington, DC 2,739,3922.7m $129.7m $129.7m 0.31% Reduced -35.1k -35,068
22 NORTHERN TRUST CORP 0.02% of their portfolio CHICAGO, IL 2,524,2742.5m $119.5m $119.5m 0.02% Added +50.3k +50,332
23 Grantham, Mayo, Van Otterloo & Co. LLC 0.36% of their portfolio Boston, MA 2,482,1062.5m $117.5m $117.5m 0.36% Added +36.1k +36,072
24 CITIGROUP INC 0.07% of their portfolio NEW YORK, NY 2,121,9182.1m $100.4m $100.4m 0.07% Added +1.9m +1,894,617
25 LPL Financial LLC 0.03% of their portfolio FORT MILL, SC 1,788,8501.8m $84.7m $84.7m 0.03% Added +958.2k +958,192
26 CITADEL ADVISORS LLC 0.06% of their portfolio MIAMI, FL 1,405,9251.4m $66.5m $66.5m 0.06% Reduced -3.5m -3,459,697
27 Cullen Capital Management, LLC 0.76% of their portfolio New York, NY 1,401,9221.4m $66.4m $66.4m 0.76% Added +202.3k +202,340
28 Maple Rock Capital Partners Inc. 3.18% of their portfolio Toronto, A6 1,346,4001.3m $63.7m $63.7m 3.18% New
29 Euro Pacific Asset Management, LLC 4.66% of their portfolio DORADO, PR 1,328,8161.3m $50.0m $50.0m 4.66% Added +663.3k +663,297
30 Trivest Advisors Ltd 2.34% of their portfolio Hong Kong, K3 1,270,0001.3m $60.1m $60.1m 2.34% New
31 First Eagle Investment Management, LLC 0.11% of their portfolio NEW YORK, NY 1,124,5021.1m $53.2m $53.2m 0.11% Added +113.7k +113,687
32 RENAISSANCE TECHNOLOGIES LLC 0.07% of their portfolio NEW YORK, NY 1,070,4991.1m $50.7m $50.7m 0.07% Added +899.0k +899,000
33 Empyrean Capital Partners, LP 2.08% of their portfolio LOS ANGELES, CA 950,000950.0k $45.0m $45.0m 2.08% New
34 FIRST TRUST ADVISORS LP 0.03% of their portfolio Wheaton, IL 918,631918.6k $43.5m $43.5m 0.03% Reduced -227.2k -227,200
35 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.07% of their portfolio BALA CYNWYD, PA 912,840912.8k $43.2m $43.2m 0.07% Added +388.4k +388,410
36 Optiver Holding B.V. 1.13% of their portfolio AMSTERDAM, P7 884,887884.9k $41.9m $41.9m 1.13% Reduced -6.2k -6,155
37 ABC ARBITRAGE SA 4.66% of their portfolio PARIS, I0 862,252862.3k $40.8m $40.8m 4.66% Added +403.1k +403,115
38 TODD ASSET MANAGEMENT LLC 0.87% of their portfolio Louisville, KY 849,582849.6k $40.2m $40.2m 0.87% Added +107.7k +107,689
39 WT Asset Management Ltd 2.65% of their portfolio HONG KONG, K3 799,700799.7k $37.8m $37.8m 2.65% New
40 DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio AUSTIN, TX 781,387781.4k $37.0m $37.0m 0.01% Added +82.6k +82,628
41 Invesco Ltd. 0.01% of their portfolio ATLANTA, GA 763,630763.6k $36.1m $36.1m 0.01% Reduced -87.6k -87,590
42 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 760,982761.0k $36.6m $36.6m 0.00% Reduced -26.0k -26,020
43 MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio NEW YORK, NY 755,913755.9k $35.8m $35.8m 0.03% Added +493.6k +493,591
44 JANE STREET GROUP, LLC 0.05% of their portfolio NEW YORK, NY 681,762681.8k $32.3m $32.3m 0.05% Added +604.1k +604,062
45 Capital International, Inc./CA/ 0.31% of their portfolio Los Angeles, CA 671,995672.0k $31.8m $31.8m 0.31% Added +219.8k +219,787
46 GF FUND MANAGEMENT CO. LTD. 0.64% of their portfolio GUANGZHOU, F4 671,506671.5k $31.8m $31.8m 0.64% Added +660.2k +660,205
47 CAPITAL FUND MANAGEMENT S.A. 0.34% of their portfolio PARIS, I0 660,099660.1k $31.2m $31.2m 0.34% Added +210.1k +210,071
48 TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.24% of their portfolio FRANKFORT, KY 631,230631.2k $29.9m $29.9m 0.24% Added +76.2k +76,200
49 BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio PARIS, I0 597,018597.0k $28.3m $28.3m 0.02% Added +387.3k +387,293
50 INVESTMENT MANAGEMENT ASSOCIATES INC /ADV 9.34% of their portfolio GREENWOOD VILLAGE, CO 585,777585.8k $27.7m $27.7m 9.34% Reduced -5.2k -5,158
51 Qube Research & Technologies Ltd 0.04% of their portfolio LONDON, X0 575,514575.5k $27.2m $27.2m 0.04% Added +31.6k +31,562
52 STIFEL FINANCIAL CORP 0.03% of their portfolio ST. LOUIS, MO 564,502564.5k $26.7m $26.7m 0.03% Added +307.6k +307,555
53 McGowan Group Asset Management, Inc. 3.33% of their portfolio DALLAS, TX 559,051559.1k $26.5m $26.5m 3.33% Added +12.6k +12,597
54 OSAIC HOLDINGS, INC. 0.04% of their portfolio SCOTTSDALE, AZ 533,910533.9k $25.2m $25.2m 0.04% Reduced -47.1k -47,096
55 ASSETMARK, INC 0.06% of their portfolio CONCORD, CA 532,418532.4k $25.2m $25.2m 0.06% Added +388.9k +388,919
56 CAUSEWAY CAPITAL MANAGEMENT LLC 0.40% of their portfolio LOS ANGELES, CA 530,599530.6k $25.1m $25.1m 0.40% Reduced -78.3k -78,328
57 Callodine Capital Management, LP 2.59% of their portfolio BOSTON, MA 527,500527.5k $25.0m $25.0m 2.59% New
58 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.17% of their portfolio Stamford, CT 514,354514.4k $24.3m $24.3m 0.17% Added +16.4k +16,379
59 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 513,465513.5k $24.3m $24.3m 0.01% Added +454.9k +454,899
60 Verition Fund Management LLC 0.13% of their portfolio GREENWICH, CT 490,861490.9k $23.2m $23.2m 0.13% Added +85.3k +85,318
61 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 415,063415.1k $19.7m $19.7m 0.00% Reduced -59.3k -59,264
62 TRUIST FINANCIAL CORP 0.03% of their portfolio CHARLOTTE, NC 403,170403.2k $19.1m $19.1m 0.03% Added +226.9k +226,907
63 GW HENSSLER & ASSOCIATES LTD 1.00% of their portfolio KENNESAW, GA 395,955396.0k $18.7m $18.7m 1.00% Added +3.1k +3,066
64 UBS Group AG 0.00% of their portfolio ZURICH, V8 362,268362.3k $17.1m $17.1m 0.00% Reduced -380.8k -380,784
65 FIRST SABREPOINT CAPITAL MANAGEMENT LP 7.09% of their portfolio DALLAS, TX 350,000350.0k $16.6m $16.6m 7.09% Added +165.0k +165,000
66 Adams Asset Advisors, LLC 2.31% of their portfolio DALLAS, TX 346,549346.5k $16.4m $16.4m 2.31% Reduced -39.0k -38,967
67 CIBC WORLD MARKET INC. 0.04% of their portfolio TORONTO, A6 343,275343.3k $16.2m $16.2m 0.04% Reduced -258.6k -258,624
68 EPACRIA CAPITAL PARTNERS, LLC 12.47% of their portfolio BOULDER, CO 315,531315.5k $14.9m $14.9m 12.47% Added +1.0k +1,000
69 Dupree Financial Group, LLC 5.87% of their portfolio LEXINGTON, KY 314,969315.0k $14.9m $14.9m 5.87% Reduced -78.5k -78,491
70 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 309,744309.7k $14.7m $14.7m 0.02% Reduced -18.0k -17,988
71 SBI Securities Co., Ltd. 0.42% of their portfolio TOKYO, M0 307,684307.7k $14.6m $14.6m 0.42% Reduced -14.6k -14,610
72 TrueMark Investments, LLC 3.11% of their portfolio CHICAGO, IL 304,473304.5k $14.4m $14.4m 3.11% Added +19.1k +19,130
73 U.S. Capital Wealth Advisors, LLC 0.41% of their portfolio AUSTIN, TX 293,969294.0k $13.9m $13.9m 0.41% Reduced -7.6k -7,645
74 LOCKHEED MARTIN INVESTMENT MANAGEMENT CO 0.51% of their portfolio BETHESDA, MD 292,300292.3k $13.8m $13.8m 0.51% Added +151.3k +151,300
75 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 290,114290.1k $13.7m $13.7m 0.02% Added +89.5k +89,525
76 Squarepoint Ops LLC 0.03% of their portfolio NEW YORK, NY 280,829280.8k $13.3m $13.3m 0.03% Added +192.4k +192,391
77 BARCLAYS PLC 0.01% of their portfolio LONDON, X0 269,710269.7k $12.8m $12.8m 0.01% Added +232.3k +232,332
78 Quantinno Capital Management LP 0.05% of their portfolio NEW YORK, NY 257,864257.9k $12.2m $12.2m 0.05% Added +60.9k +60,944
79 Tower Research Capital LLC (TRC) 0.32% of their portfolio NEW YORK, NY 248,215248.2k $11.7m $11.7m 0.32% Added +122.6k +122,552
80 OPPENHEIMER ASSET MANAGEMENT INC. 0.13% of their portfolio NEW YORK, NY 243,367243.4k $11.5m $11.5m 0.13% Added +10.1k +10,096
81 QRG CAPITAL MANAGEMENT, INC. 0.10% of their portfolio BERWYN, PA 240,548240.5k $11.4m $11.4m 0.10% Added +45.7k +45,662
82 SEI INVESTMENTS CO 0.01% of their portfolio OAKS, PA 234,427234.4k $11.1m $11.1m 0.01% Added +17.6k +17,644
83 AUXIER ASSET MANAGEMENT LLC 1.56% of their portfolio AURORA, OR 223,918223.9k $10.6m $10.6m 1.56% Added +4.6k +4,592
84 Prescott General Partners LLC 0.75% of their portfolio BOCA RATON, FL 220,100220.1k $10.7m $10.7m 0.75% Unchanged
85 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 216,585216.6k $10.3m $10.3m 0.01% Added +193.5k +193,472
86 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 216,072216.1k $10.2m $10.2m 0.00% Added +30.0k +29,988
87 MML INVESTORS SERVICES, LLC 0.03% of their portfolio SPRINGFIELD, MA 213,684213.7k $10.1m $10.1m 0.03% Added +122.3k +122,317
88 GATEWAY INVESTMENT ADVISERS LLC 0.11% of their portfolio CINCINNATI, OH 213,577213.6k $10.1m $10.1m 0.11% Reduced -16.2k -16,191
89 Savoir Faire Capital Management, L.P. 4.77% of their portfolio NORWALK, CT 208,345208.3k $9.9m $9.9m 4.77% Added +71.2k +71,183
90 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 206,866206.9k $9.8m $9.8m 0.01% Added +27.0k +27,045
91 Trexquant Investment LP 0.11% of their portfolio STAMFORD, CT 197,554197.6k $9.4m $9.4m 0.11% Added +185.5k +185,490
92 Altrius Capital Management Inc 2.18% of their portfolio NEW BERN, NC 197,309197.3k $9.3m $9.3m 2.18% Reduced -32.9k -32,948
93 KIZE CAPITAL LP 8.30% of their portfolio NEW YORK, NY 195,000195.0k $9.2m $9.2m 8.30% Reduced -225.0k -225,000
94 MANNING & NAPIER ADVISORS LLC 0.11% of their portfolio Fairport, NY 189,183189.2k $9.0m $9.0m 0.11% Added +2.0k +2,015
95 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 185,178185.2k $8.8m $8.8m 0.01% Reduced -3.7k -3,659
96 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 184,744184.7k $8.7m $8.7m 0.00% Reduced -8.5k -8,548
97 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.00% of their portfolio Boston, MA 177,944177.9k $8.4m $8.4m 0.00% Added +9.4k +9,439
98 Pathstone Holdings, LLC 0.03% of their portfolio ENGLEWOOD, NJ 176,327176.3k $8.3m $8.3m 0.03% Reduced -19.4k -19,409
99 Midwest Trust Co 0.11% of their portfolio Overland Park, KS 174,033174.0k $8.2m $8.2m 0.11% First filing
100 Walleye Trading LLC 0.20% of their portfolio NEW YORK, NY 173,651173.7k $8.2m $8.2m 0.20% Added +66.7k +66,656