LUMEN TECHNOLOGIES INC LUMN
COM · Common Stock · CUSIP 550241103 · ISIN US5502411037
* 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 ($16.6m this quarter). Holder counts are more reliable. Shares outstanding: 1.0bn as of 2025-07-29, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $4.39. Options: 20 managers hold calls ($62.3m notional), 24 hold puts ($98.6m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 773 |
| Q4 2022 | 751 |
| Q1 2023 | 637 |
| Q2 2023 | 557 |
| Q3 2023 | 503 |
| Q4 2023 | 493 |
| Q1 2024 | 483 |
| Q2 2024 | 454 |
| Q3 2024 | 506 |
| Q4 2024 | 555 |
| Q1 2025 | 536 |
| Q2 2025 | 551 |
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 | 161 | 289 |
| Q4 2023 | 161 | 269 |
| Q1 2024 | 174 | 218 |
| Q2 2024 | 154 | 221 |
| Q3 2024 | 248 | 187 |
| Q4 2024 | 239 | 222 |
| Q1 2025 | 217 | 255 |
| Q2 2025 | 228 | 229 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $220.9m | $255.5m | 1.16 |
| Q4 2024 | $137.4m | $181.9m | 1.32 |
| Q1 2025 | $68.5m | $90.7m | 1.32 |
| Q2 2025 | $62.3m | $98.6m | 1.58 |
Biggest buyers
| Palestra Capital Management LLC | Added | +7.4m |
| JPMORGAN CHASE & CO | Added | +6.2m |
| DIMENSIONAL FUND ADVISORS LP | Added | +4.1m |
| Curi Capital, LLC | New | +3.2m |
| Point72 Asset Management, L.P. | Added | +3.1m |
| BRIGADE CAPITAL MANAGEMENT, LP | New | +2.9m |
| VANGUARD GROUP INC | Added | +2.9m |
| Cubist Systematic Strategies, LLC | Added | +2.5m |
| CITADEL ADVISORS LLC | Added | +2.3m |
| CANADA PENSION PLAN INVESTMENT BOARD | New | +1.9m |
Biggest sellers
| UBS Group AG | Reduced | -5.9m |
| MORGAN STANLEY | Reduced | -5.8m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | Reduced | -5.3m |
| D. E. Shaw & Co., Inc. | Reduced | -4.2m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -3.0m |
| JANE STREET GROUP, LLC | Reduced | -2.2m |
| HSBC HOLDINGS PLC | Reduced | -2.0m |
| VICTORY CAPITAL MANAGEMENT INC | Reduced | -1.8m |
| NORTHERN TRUST CORP | Reduced | -1.5m |
| TWO SIGMA INVESTMENTS, LP | Reduced | -1.4m |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $23.0m5.3m shares |
| Crescent Park Management, L.P. | Added | $6.0m1.4m shares |
| SIMPLEX TRADING, LLC | Reduced | $5.1m1.2m shares |
| GROUP ONE TRADING LLC | Added | $4.9m1.1m shares |
| IMC-Chicago, LLC | Reduced | $3.6m826.3k shares |
| BARCLAYS PLC | Reduced | $3.5m795.0k shares |
| Walleye Trading LLC | Added | $2.9m659.1k shares |
| CITADEL ADVISORS LLC | Reduced | $2.9m655.5k shares |
| Cubist Systematic Strategies, LLC | Reduced | $2.6m590.4k shares |
| CapWealth Advisors, LLC | Unchanged | $2.2m500.0k shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $27.1m6.2m shares |
| WHITEBOX ADVISORS LLC | Unchanged | $18.8m4.3m shares |
| GROUP ONE TRADING LLC | Added | $11.2m2.6m shares |
| SIMPLEX TRADING, LLC | Added | $10.8m2.5m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $5.8m1.3m shares |
| JANE STREET GROUP, LLC | Added | $5.5m1.3m shares |
| Walleye Trading LLC | Reduced | $2.7m624.1k shares |
| IMC-Chicago, LLC | Reduced | $2.3m535.7k shares |
| WOLVERINE TRADING, LLC | Reduced | $2.3m508.1k shares |
| UBS Group AG | Reduced | $2.2m492.7k 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 2025-04-28 | 13.6% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 6.1% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
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 | 3 | $1.6m | 0 | — | — |
| Q1 2024 | 3 | $222.9k | 0 | — | — |
| Q2 2024 | 1 | $960.0k | 0 | — | — |
| Q3 2024 | 1 | $47.0k | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 148.4m $649.8m | Reduced -1.1m |
| VANGUARD GROUP INC 0.01% of their portfolio | 112.3m $491.7m | Added +2.9m |
| STATE STREET CORP 0.01% of their portfolio | 47.4m $207.7m | Reduced -1.1m |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 23.0m $100.8m | Reduced -959.4k |
| FIRST TRUST ADVISORS LP 0.07% of their portfolio | 18.6m $81.3m | Reduced -158.5k |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 17.7m $77.6m | Added +4.1m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 17.4m $76.2m | Reduced -5.3m |
| HSBC HOLDINGS PLC 0.04% of their portfolio | 13.5m $58.9m | Reduced -2.0m |
| RENAISSANCE TECHNOLOGIES LLC 0.07% of their portfolio | 12.7m $55.7m | Added +1.4m |
| Man Group plc 0.11% of their portfolio | 11.5m $50.3m | Added +364.4k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 11.3m $49.6m | Added +6.2m |
| MORGAN STANLEY 0.00% of their portfolio | 11.3m $49.3m | Reduced -5.8m |
| Palestra Capital Management LLC 1.45% of their portfolio | 11.2m $48.9m | Added +7.4m |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 11.0m $48.0m | Added +193.3k |
| NORGES BANK 0.01% of their portfolio | 10.9m $47.9m | Reduced -816.1k |
| Invesco Ltd. 0.01% of their portfolio | 10.9m $47.9m | Added +652.1k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 10.8m $47.3m | Reduced -1.5m |
| LM Asset Management Inc. 42.22% of their portfolio | 10.4m $45.4m | Added +563.1k |
| Allianz Asset Management GmbH 0.06% of their portfolio | 9.5m $41.7m | Added +748.2k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.03% of their portfolio | 8.1m $35.5m | Reduced -3.0m |
| TWO SIGMA INVESTMENTS, LP 0.06% of their portfolio | 7.6m $33.5m | Reduced -1.4m |
| HENNESSY ADVISORS INC 1.02% of their portfolio | 7.0m $30.5m | Reduced -768.9k |
| TWO SIGMA ADVISERS, LP 0.06% of their portfolio | 6.9m $30.1m | Reduced -924.9k |
| Nuveen, LLC 0.01% of their portfolio | 6.7m $29.2m | Reduced -78.4k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 6.3m $27.6m | Reduced -372.6k |
| FMR LLC 0.00% of their portfolio | 5.3m $23.2m | Added +866.6k |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 5.1m $22.4m | Reduced -282.6k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 5.1m $22.3m | Added +30.9k |
| Connor, Clark & Lunn Investment Management Ltd. 0.07% of their portfolio | 4.6m $20.2m | Added +757.1k |
| UBS Group AG 0.00% of their portfolio | 4.5m $19.9m | Reduced -5.9m |
| CapWealth Advisors, LLC 1.90% of their portfolio | 4.4m $19.2m | Added +344.6k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 4.2m $18.4m | Added +1.2m |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 4.0m $17.6m | Added +2.3m |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 3.7m $16.1m | Reduced -115.8k |
| Public Sector Pension Investment Board 0.07% of their portfolio | 3.5m $15.3m | Added +279.2k |
| Point72 Asset Management, L.P. 0.03% of their portfolio | 3.3m $14.5m | Added +3.1m |
| Curi Capital, LLC 0.27% of their portfolio | 3.2m $14.1m | New |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 3.2m $14.1m | Reduced -4.2m |
| FEDERATED HERMES, INC. 0.03% of their portfolio | 3.2m $14.0m | Added +1.3m |
| Cubist Systematic Strategies, LLC 0.15% of their portfolio | 3.2m $13.8m | Added +2.5m |
| Legal & General Group Plc 0.00% of their portfolio | 3.1m $13.7m | Reduced -128.2k |
| TUDOR INVESTMENT CORP ET AL 0.10% of their portfolio | 3.0m $13.0m | Added +876.6k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 3.0m $13.0m | Reduced -132.2k |
| BRIGADE CAPITAL MANAGEMENT, LP 14.58% of their portfolio | 2.9m $12.7m | New |
| BARCLAYS PLC 0.00% of their portfolio | 2.9m $12.6m | Reduced -212.3k |
| JUPITER ASSET MANAGEMENT LTD 0.10% of their portfolio | 2.8m $12.2m | Added +1.7m |
| WESTERLY CAPITAL MANAGEMENT, LLC 4.73% of their portfolio | 2.5m $11.2m | Reduced -725.0k |
| VAN DEN BERG MANAGEMENT I, INC 3.01% of their portfolio | 2.4m $10.6m | Reduced -14.9k |
| AustralianSuper Pty Ltd 0.05% of their portfolio | 2.1m $9.4m | Unchanged |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 2.1m $9.1m | Reduced -90.9k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.03% of their portfolio | 2.0m $8.8m | Reduced -685.6k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.01% of their portfolio | 1.9m $8.2m | New |
| Swiss National Bank 0.00% of their portfolio | 1.9m $8.1m | Reduced -7.3k |
| Mitsubishi UFJ Trust & Banking Corp 0.02% of their portfolio | 1.7m $7.4m | Reduced -712.7k |
| California Public Employees Retirement System 0.00% of their portfolio | 1.7m $7.3m | Reduced -37.4k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 1.5m $6.4m | Reduced -16.0k |
| Sequoia Financial Advisors, LLC 0.04% of their portfolio | 1.4m $6.0m | Reduced -3.6k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 1.4m $6.0m | Added +383.1k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 1.3m $5.7m | Reduced -2.2m |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 1.2m $5.2m | Reduced -78.9k |
| CITIGROUP INC 0.00% of their portfolio | 1.2m $5.1m | Reduced -283.5k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 1.2m $5.1m | Added +437.2k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 1.2m $5.1m | New |
| PRUDENTIAL FINANCIAL INC 0.01% of their portfolio | 1.1m $9.1m | Added +104.4k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 1.0m $4.4m | Reduced -300 |
| Assenagon Asset Management S.A. 0.01% of their portfolio | 945.5k $4.1m | Added +10.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 904.2k $4.0m | Added +40.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 892.1k $3.9m | Reduced -3.9k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 854.7k $3.7m | Reduced -56.9k |
| NATIXIS 0.02% of their portfolio | 853.3k $3.7m | New |
| INTECH INVESTMENT MANAGEMENT LLC 0.03% of their portfolio | 849.7k $3.7m | Reduced -372.2k |
| Balyasny Asset Management L.P. 0.01% of their portfolio | 807.7k $3.5m | New |
| Graham Capital Management, L.P. 0.10% of their portfolio | 758.9k $3.3m | Reduced -700.0k |
| Thrivent Financial for Lutherans 0.01% of their portfolio | 756.1k $3.3m | Reduced -166.0k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 703.0k $3.1m | Added +271.5k |
| ALGERT GLOBAL LLC 0.06% of their portfolio | 652.4k $2.9m | Reduced -41.2k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 627.4k $2.7m | Added +547.5k |
| Verition Fund Management LLC 0.02% of their portfolio | 619.9k $2.7m | Added +332.0k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 610.9k $2.7m | Reduced -8.7k |
| State of Alaska, Department of Revenue 0.03% of their portfolio | 609.8k $2.7m | Added +47.5k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 604.3k $2.6m | Reduced -1.8m |
| MetLife Investment Management, LLC 0.01% of their portfolio | 582.8k $2.6m | Reduced -3.1k |
| GENDELL JEFFREY L 0.06% of their portfolio | 550.0k $2.4m | Unchanged |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 540.9k $2.4m | Reduced -568.8k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 524.7k $2.3m | Reduced -47.1k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 523.1k $2.3m | Reduced -79.6k |
| YOUSIF CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 521.9k $2.3m | Reduced -59.7k |
| Quantbot Technologies LP 0.06% of their portfolio | 521.8k $2.3m | Added +512.9k |
| Illinois Municipal Retirement Fund 0.03% of their portfolio | 516.2k $2.3m | New |
| Aquatic Capital Management LLC 0.05% of their portfolio | 514.5k $2.3m | Added +92.9k |
| State of New Jersey Common Pension Fund D 0.01% of their portfolio | 490.5k $2.1m | Added +43.7k |
| Louisiana State Employees Retirement System 0.04% of their portfolio | 479.3k $2.1m | Added +1.3k |
| BI Asset Management Fondsmaeglerselskab A/S 0.02% of their portfolio | 469.7k $2.1m | Added +453.4k |
| Pathstone Holdings, LLC 0.01% of their portfolio | 448.6k $2.0m | Added +27.5k |
| JANUS HENDERSON GROUP PLC 0.00% of their portfolio | 427.5k $1.9m | Unchanged |
| CONGRESS ASSET MANAGEMENT CO 0.01% of their portfolio | 415.4k $1.8m | Reduced -2.1k |
| State of Tennessee, Department of Treasury 0.01% of their portfolio | 403.7k $1.8m | Reduced -37.4k |
| CHOREO, LLC 0.02% of their portfolio | 401.8k $1.8m | Added +3.3k |
| COMERICA BANK 0.01% of their portfolio | 394.9k $1.7m | Reduced -11.9k |
| Weiss Asset Management LP 0.03% of their portfolio | 392.7k $1.7m | Not comparable |