Vault-13

BRITISH AMERN TOB PLC BTI

SPONSORED ADR · ADR · CUSIP 110448107 · ISIN US1104481072

870 institutional holders +45 vs Q4 2025
318,402,254318.4m shares reported held*
$18.6bnreported value*
106 new 393 added 218 reduced 60 sold out net bought ≈ $1.7bn (+29.4m 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 ($47.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $58.44. Options: 25 managers hold calls ($277.3m notional), 22 hold puts ($201.1m).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 535Q4 22: 586Q1 23: 574Q2 23: 573Q3 23: 554Q4 23: 551Q1 24: 573Q2 24: 564Q3 24: 610Q4 24: 620Q1 25: 647Q2 25: 720Q3 25: 773Q4 25: 825Q1 26: 870870Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q3 2025773
Q4 2025825
Q1 2026870

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q2 24: 312 bought or addedQ2 24: 242 cut or sold outQ3 24: 341 bought or addedQ3 24: 235 cut or sold outQ3 24Q4 24: 273 bought or addedQ4 24: 285 cut or sold outQ1 25: 324 bought or addedQ1 25: 259 cut or sold outQ1 25Q2 25: 432 bought or addedQ2 25: 212 cut or sold outQ3 25: 406 bought or addedQ3 25: 305 cut or sold outQ3 25Q4 25: 412 bought or addedQ4 25: 313 cut or sold outQ1 26: 499 bought or addedQ1 26: 278 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024312242
Q3 2024341235
Q4 2024273285
Q1 2025324259
Q2 2025432212
Q3 2025406305
Q4 2025412313
Q1 2026499278

Calls vs puts

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

CallsPuts
$0$200m$400m$600m$800mQ2 25 calls: $414.4mQ2 25 puts: $337.4mQ2 25P/C 0.81Q3 25 calls: $616.1mQ3 25 puts: $442.4mQ3 25P/C 0.72Q4 25 calls: $287.2mQ4 25 puts: $420.8mQ4 25P/C 1.47Q1 26 calls: $277.3mQ1 26 puts: $201.1mQ1 26P/C 0.73
Numbers
QuarterCallsPutsP/C
Q2 2025$414.4m$337.4m0.81
Q3 2025$616.1m$442.4m0.72
Q4 2025$287.2m$420.8m1.47
Q1 2026$277.3m$201.1m0.73

Biggest buyers

Capital Research Global Investors Added +8,629,499+8.6m
BlackRock, Inc. Added +8,518,913+8.5m
FMR LLC Added +5,592,777+5.6m
JONES FINANCIAL COMPANIES LLLP Added +3,766,004+3.8m
JPMORGAN CHASE & CO Added +3,174,693+3.2m
Contrarius Group Holdings Ltd New +2,823,441+2.8m
BANK OF AMERICA CORP /DE/ Added +2,494,576+2.5m
WCM INVESTMENT MANAGEMENT, LLC Added +2,303,743+2.3m
MARSHALL WACE, LLP Added +2,061,421+2.1m
TWO SIGMA INVESTMENTS, LP Added +1,857,198+1.9m

Biggest sellers

Capital International Investors Reduced -15,573,911-15.6m
Bridgewater Associates, LP Reduced -2,186,230-2.2m
Orbis Allan Gray Ltd Reduced -1,594,933-1.6m
Balyasny Asset Management L.P. Reduced -1,448,956-1.4m
TWO SIGMA ADVISERS, LP Sold out -1,282,400-1.3m
Grantham, Mayo, Van Otterloo & Co. LLC Reduced -755,049-755.0k
1832 Asset Management L.P. Reduced -723,900-723.9k
Qube Research & Technologies Ltd Reduced -706,186-706.2k
SG Americas Securities, LLC Reduced -628,423-628.4k
MILLENNIUM MANAGEMENT LLC Reduced -560,827-560.8k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $78.3m1.3m shares
GROUP ONE TRADING LLC Reduced $29.9m511.9k shares
CITADEL ADVISORS LLC Added $29.5m503.7k shares
IMC-Chicago, LLC Added $23.1m395.4k shares
JANE STREET GROUP, LLC Added $19.1m326.7k shares
Optiver Holding B.V. Reduced $18.5m316.6k shares
D. E. Shaw & Co., Inc. Added $16.3m278.2k shares
SIMPLEX TRADING, LLC Reduced $12.2m208.1k shares
Point72 Asset Management, L.P. Reduced $6.5m111.4k shares
Squarepoint Ops LLC Added $5.4m92.4k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $53.5m915.8k shares
Optiver Holding B.V. Reduced $40.2m688.0k shares
CAPITAL FUND MANAGEMENT S.A. Reduced $15.0m257.3k shares
CITADEL ADVISORS LLC Reduced $12.7m217.1k shares
PEAK6 LLC Added $12.2m209.0k shares
SIMPLEX TRADING, LLC Reduced $11.2m191.9k shares
LOGAN CAPITAL MANAGEMENT INC New $8.2m139.9k shares
UBS Group AG Reduced $6.5m111.3k shares
IMC-Chicago, LLC Reduced $6.1m103.9k shares
Squarepoint Ops LLC Reduced $5.2m88.5k 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.

Insider purchases and sales in Q1 2026

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 Q1 2026.

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Capital International Investors 0.67% of their portfolio Los Angeles, CA 48,815,57048.8m $2.9bn $2.9bn 0.67% Reduced -15.6m -15,573,911
2 FMR LLC 0.11% of their portfolio BOSTON, MA 36,688,21936.7m $2.1bn $2.1bn 0.11% Added +5.6m +5,592,777
3 Capital Research Global Investors 0.28% of their portfolio Los Angeles, CA 30,962,90131.0m $1.8bn $1.8bn 0.28% Added +8.6m +8,629,499
4 GQG Partners LLC 2.57% of their portfolio FT. LAUDERDALE, FL 27,683,33427.7m $1.6bn $1.6bn 2.57% Reduced -379.4k -379,413
5 BlackRock, Inc. 0.02% of their portfolio New York, NY 19,146,69619.1m $1.1bn $1.1bn 0.02% Added +8.5m +8,518,913
6 BANK OF AMERICA CORP /DE/ 0.04% of their portfolio CHARLOTTE, NC 9,736,8439.7m $569.3m $569.3m 0.04% Added +2.5m +2,494,576
7 Capital World Investors 0.08% of their portfolio LOS ANGELES, CA 9,688,3059.7m $566.4m $566.4m 0.08% Added +169.7k +169,738
8 Orbis Allan Gray Ltd 1.90% of their portfolio HamiltoN, D0 7,705,9687.7m $450.6m $450.6m 1.90% Reduced -1.6m -1,594,933
9 JPMORGAN CHASE & CO 0.02% of their portfolio NEW YORK, NY 5,815,9805.8m $338.8m $338.8m 0.02% Added +3.2m +3,174,693
10 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 5,199,0215.2m $304.0m $304.0m 0.02% Added +386.7k +386,673
11 WELLS FARGO & COMPANY/MN 0.05% of their portfolio SAN FRANCISCO, CA 4,649,4514.6m $271.9m $271.9m 0.05% Added +801.6k +801,560
12 TWO SIGMA INVESTMENTS, LP 0.20% of their portfolio NEW YORK, NY 4,224,1684.2m $247.0m $247.0m 0.20% Added +1.9m +1,857,198
13 NATIXIS ADVISORS, LLC 0.34% of their portfolio Boston, MA 4,145,8044.1m $242.4m $242.4m 0.34% Added +879.2k +879,204
14 ENVESTNET ASSET MANAGEMENT INC 0.06% of their portfolio Berwyn, PA 4,131,9114.1m $241.6m $241.6m 0.06% Added +1.2m +1,151,124
15 JONES FINANCIAL COMPANIES LLLP 0.11% of their portfolio DES PERES, MO 3,886,8213.9m $224.7m $224.7m 0.11% Added +3.8m +3,766,004
16 NORTHERN TRUST CORP 0.03% of their portfolio CHICAGO, IL 3,837,0983.8m $224.4m $224.4m 0.03% Added +1.4m +1,358,541
17 RAYMOND JAMES FINANCIAL INC 0.07% of their portfolio ST. PETERSBURG, FL 3,791,2753.8m $221.7m $221.7m 0.07% Added +833.5k +833,530
18 Mondrian Investment Partners LTD 3.24% of their portfolio LONDON, X0 3,708,9633.7m $216.9m $216.9m 3.24% Reduced -36.1k -36,125
19 FEDERATED HERMES, INC. 0.35% of their portfolio PITTSBURGH, PA 3,697,7553.7m $216.2m $216.2m 0.35% Reduced -79.5k -79,537
20 MARSHALL WACE, LLP 0.21% of their portfolio LONDON, X0 3,307,9963.3m $193.4m $193.4m 0.21% Added +2.1m +2,061,421
21 CITADEL ADVISORS LLC 0.13% of their portfolio MIAMI, FL 3,139,0323.1m $183.5m $183.5m 0.13% Added +971.9k +971,906
22 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 2,852,8702.9m $166.8m $166.8m 0.02% Added +250.4k +250,366
23 Contrarius Group Holdings Ltd 9.35% of their portfolio Hamilton, D0 2,823,4412.8m $165.1m $165.1m 9.35% New
24 Newport Trust Company, LLC 0.36% of their portfolio Washington, DC 2,533,0382.5m $148.1m $148.1m 0.36% Reduced -78.1k -78,067
25 ROYAL BANK OF CANADA 0.03% of their portfolio TORONTO, A6 2,413,5512.4m $141.1m $141.1m 0.03% Added +370.0k +369,993
26 LPL Financial LLC 0.04% of their portfolio FORT MILL, SC 2,389,8252.4m $139.7m $139.7m 0.04% Added +297.1k +297,055
27 WCM INVESTMENT MANAGEMENT, LLC 0.31% of their portfolio LAGUNA BEACH, CA 2,362,8182.4m $137.7m $137.7m 0.31% Added +2.3m +2,303,743
28 Empyrean Capital Partners, LP 3.75% of their portfolio LOS ANGELES, CA 1,925,0001.9m $112.6m $112.6m 3.75% Reduced -275.0k -275,000
29 Connor, Clark & Lunn Investment Management Ltd. 0.24% of their portfolio VANCOUVER, A1 1,793,5151.8m $104.9m $104.9m 0.24% Added +1.6m +1,587,834
30 First Eagle Investment Management, LLC 0.17% of their portfolio NEW YORK, NY 1,668,5221.7m $97.6m $97.6m 0.17% Added +260.5k +260,542
31 Capital International, Inc./CA/ 0.72% of their portfolio Los Angeles, CA 1,605,8461.6m $93.9m $93.9m 0.72% Added +352.4k +352,398
32 Maple Rock Capital Partners Inc. 3.02% of their portfolio Toronto, A6 1,589,1001.6m $92.9m $92.9m 3.02% Reduced -66.2k -66,200
33 Cullen Capital Management, LLC 0.81% of their portfolio New York, NY 1,343,6781.3m $78.6m $78.6m 0.81% Added +8.7k +8,715
34 SEI INVESTMENTS CO 0.07% of their portfolio OAKS, PA 1,303,6461.3m $76.2m $76.2m 0.07% Added +559.9k +559,858
35 Madison Avenue Partners, LP 2.86% of their portfolio NEW YORK, NY 1,123,7671.1m $65.7m $65.7m 2.86% Reduced -100.0k -100,000
36 Callodine Capital Management, LP 4.44% of their portfolio BOSTON, MA 1,077,4911.1m $63.0m $63.0m 4.44% Added +397.1k +397,114
37 UBS Group AG 0.01% of their portfolio ZURICH, V8 999,158999.2k $58.4m $58.4m 0.01% Added +672.5k +672,489
38 Prescott General Partners LLC 3.94% of their portfolio BOCA RATON, FL 920,100920.1k $53.8m $53.8m 3.94% Added +700.0k +700,000
39 STIFEL FINANCIAL CORP 0.05% of their portfolio ST. LOUIS, MO 882,754882.8k $51.6m $51.6m 0.05% Added +243.0k +243,006
40 Qube Research & Technologies Ltd 0.07% of their portfolio LONDON, X0 839,628839.6k $49.1m $49.1m 0.07% Reduced -706.2k -706,186
41 TODD ASSET MANAGEMENT LLC 0.92% of their portfolio Louisville, KY 804,683804.7k $47.1m $47.1m 0.92% Added +4.5k +4,453
42 FIRST TRUST ADVISORS LP 0.03% of their portfolio Wheaton, IL 783,165783.2k $45.8m $45.8m 0.03% Reduced -23.6k -23,634
43 Grantham, Mayo, Van Otterloo & Co. LLC 0.11% of their portfolio Boston, MA 766,683766.7k $44.8m $44.8m 0.11% Reduced -755.0k -755,049
44 Bridgewater Associates, LP 0.20% of their portfolio Westport, CT 765,848765.8k $44.8m $44.8m 0.20% Reduced -2.2m -2,186,230
45 DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio AUSTIN, TX 762,785762.8k $44.6m $44.6m 0.01% Added +5.2k +5,155
46 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 740,681740.7k $43.9m $43.9m 0.00% Reduced -15.1k -15,104
47 CAPITAL FUND MANAGEMENT S.A. 0.38% of their portfolio PARIS, I0 727,249727.2k $42.5m $42.5m 0.38% Reduced -112.2k -112,178
48 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio Boston, MA 684,858684.9k $40.0m $40.0m 0.01% Added +119.1k +119,135
49 Bahl & Gaynor LLC 0.20% of their portfolio CINCINNATI, OH 663,467663.5k $38.8m $38.8m 0.20% Added +655.4k +655,418
50 Euro Pacific Asset Management, LLC 3.49% of their portfolio DORADO, PR 653,402653.4k $35.2m $35.2m 3.49% Reduced -4.5k -4,481
51 ASSETMARK, INC 0.08% of their portfolio CONCORD, CA 640,106640.1k $37.4m $37.4m 0.08% Added +82.2k +82,219
52 TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.27% of their portfolio FRANKFORT, KY 589,730589.7k $34.5m $34.5m 0.27% Unchanged
53 RENAISSANCE TECHNOLOGIES LLC 0.05% of their portfolio NEW YORK, NY 581,299581.3k $34.0m $34.0m 0.05% Added +528.2k +528,200
54 McGowan Group Asset Management, Inc. 4.18% of their portfolio DALLAS, TX 561,466561.5k $32.8m $32.8m 4.18% Added +2.2k +2,214
55 CRAWFORD INVESTMENT COUNSEL INC 0.53% of their portfolio ATLANTA, GA 531,452531.5k $31.1m $31.1m 0.53% Added +158.0k +157,969
56 BARCLAYS PLC 0.01% of their portfolio LONDON, X0 510,210510.2k $29.8m $29.8m 0.01% Added +325.1k +325,133
57 CAUSEWAY CAPITAL MANAGEMENT LLC 0.36% of their portfolio LOS ANGELES, CA 500,864500.9k $29.3m $29.3m 0.36% Added +17.7k +17,726
58 Optiver Holding B.V. 1.10% of their portfolio AMSTERDAM, P7 499,077499.1k $29.2m $29.2m 1.10% Reduced -354.0k -354,019
59 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 498,726498.7k $29.2m $29.2m 0.00% Reduced -79.7k -79,732
60 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.14% of their portfolio Stamford, CT 493,770493.8k $28.9m $28.9m 0.14% Added +6.6k +6,627
61 OSAIC HOLDINGS, INC. 0.04% of their portfolio SCOTTSDALE, AZ 480,107480.1k $28.1m $28.1m 0.04% Reduced -45.8k -45,780
62 INVESTMENT MANAGEMENT ASSOCIATES INC /ADV 7.13% of their portfolio GREENWOOD VILLAGE, CO 450,133450.1k $26.3m $26.3m 7.13% Reduced -3.7k -3,673
63 TRUIST FINANCIAL CORP 0.04% of their portfolio CHARLOTTE, NC 448,937448.9k $26.2m $26.2m 0.04% Added +19.5k +19,452
64 D. E. Shaw & Co., Inc. 0.02% of their portfolio New York, NY 439,383439.4k $25.7m $25.7m 0.02% Added +129.2k +129,216
65 Point72 Asset Management, L.P. 0.04% of their portfolio STAMFORD, CT 414,217414.2k $24.2m $24.2m 0.04% New
66 LOCKHEED MARTIN INVESTMENT MANAGEMENT CO 0.88% of their portfolio BETHESDA, MD 413,200413.2k $24.2m $24.2m 0.88% Reduced -27.2k -27,200
67 NEUBERGER BERMAN GROUP LLC 0.02% of their portfolio NEW YORK, NY 409,606409.6k $23.9m $23.9m 0.02% Added +340.2k +340,153
68 Capital Wealth Planning, LLC 0.13% of their portfolio NAPLES, FL 405,797405.8k $23.7m $23.7m 0.13% Added +159.4k +159,382
69 Quantinno Capital Management LP 0.04% of their portfolio NEW YORK, NY 398,397398.4k $23.3m $23.3m 0.04% Added +42.3k +42,336
70 SMITH THOMAS W 22.97% of their portfolio BOCA RATON, FL 397,500397.5k $23.2m $23.2m 22.97% Unchanged
71 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 394,933394.9k $23.1m $23.1m 0.02% Reduced -560.8k -560,827
72 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 392,344392.3k $22.9m $22.9m 0.02% Added +13.5k +13,488
73 ABC ARBITRAGE SA 3.03% of their portfolio PARIS, I0 390,728390.7k $22.8m $22.8m 3.03% Reduced -527.9k -527,925
74 ExodusPoint Capital Management, LP 0.21% of their portfolio NEW YORK, NY 367,195367.2k $21.5m $21.5m 0.21% Added +90.8k +90,778
75 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 352,214352.2k $20.6m $20.6m 0.00% Added +52.8k +52,838
76 Adams Asset Advisors, LLC 2.25% of their portfolio DALLAS, TX 343,016343.0k $20.1m $20.1m 2.25% Unchanged
77 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 320,813320.8k $18.8m $18.8m 0.00% Reduced -2.9k -2,941
78 CIBC WORLD MARKET INC. 0.03% of their portfolio TORONTO, A6 309,612309.6k $18.1m $18.1m 0.03% Reduced -5.0k -5,003
79 EPACRIA CAPITAL PARTNERS, LLC 13.15% of their portfolio BOULDER, CO 290,381290.4k $17.0m $17.0m 13.15% Reduced -25.1k -25,150
80 U.S. Capital Wealth Advisors, LLC 0.42% of their portfolio AUSTIN, TX 287,970288.0k $16.8m $16.8m 0.42% Reduced -645 -645
81 Modern Wealth Management, LLC 0.28% of their portfolio KANSAS CITY, MO 283,876283.9k $16.4m $16.4m 0.28% Added +2.2k +2,192
82 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 281,517281.5k $16.5m $16.5m 0.02% Reduced -8.3k -8,322
83 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 276,052276.1k $16.1m $16.1m 0.01% Added +19.1k +19,136
84 Russell Investments Group, Ltd. 0.02% of their portfolio Seattle, WA 272,667272.7k $15.9m $15.9m 0.02% Added +24.5k +24,549
85 SBI Securities Co., Ltd. 0.44% of their portfolio TOKYO, M0 272,175272.2k $15.9m $15.9m 0.44% Reduced -7.5k -7,549
86 GW HENSSLER & ASSOCIATES LTD 0.73% of their portfolio KENNESAW, GA 266,290266.3k $15.6m $15.6m 0.73% Reduced -116.6k -116,644
87 AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio Greenwich, CT 259,167259.2k $15.2m $15.2m 0.01% Added +52.4k +52,421
88 MML INVESTORS SERVICES, LLC 0.04% of their portfolio SPRINGFIELD, MA 249,561249.6k $14.6m $14.6m 0.04% Reduced -1.2k -1,228
89 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 228,227228.2k $13.3m $13.3m 0.00% Added +16.6k +16,599
90 TrueMark Investments, LLC 2.56% of their portfolio CHICAGO, IL 224,796224.8k $13.1m $13.1m 2.56% Added +51.6k +51,628
91 OPAL CAPITAL LLC 2.33% of their portfolio BOCA RATON, FL 224,796224.8k $13.1m $13.1m 2.33% Added +53.1k +53,098
92 AUXIER ASSET MANAGEMENT LLC 1.85% of their portfolio AURORA, OR 220,744220.7k $12.9m $12.9m 1.85% Added +930 +930
93 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 220,423220.4k $12.9m $12.9m 0.01% Added +22.8k +22,815
94 OPPENHEIMER ASSET MANAGEMENT INC. 0.14% of their portfolio NEW YORK, NY 210,641210.6k $12.3m $12.3m 0.14% Added +4.3k +4,336
95 VIKING FUND MANAGEMENT LLC 1.26% of their portfolio MINOT, ND 210,000210.0k $12.3m $12.3m 1.26% Added +20.0k +20,000
96 Pathstone Holdings, LLC 0.05% of their portfolio ENGLEWOOD, NJ 207,766207.8k $12.2m $12.2m 0.05% Added +44.7k +44,745
97 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 207,069207.1k $12.1m $12.1m 0.00% Added +168.1k +168,078
98 QRG CAPITAL MANAGEMENT, INC. 0.12% of their portfolio BERWYN, PA 202,261202.3k $11.8m $11.8m 0.12% Added +24.7k +24,727
99 Wealth High Governance Asset Management Ltda. 1.78% of their portfolio SAO PAULO, D5 194,771194.8k $11.4m $11.4m 1.78% Added +72.7k +72,719
100 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 193,453193.5k $11.3m $11.3m 0.01% New