TELUS CORPORATION TU
COM · Common Stock · CUSIP 87971M103 · ISIN CA87971M1032
Canadian telecommunications company
* 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 ($416.6m this quarter). Holder counts are more reliable. Shares outstanding: 1.5bn as of 2024-12-31, 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 ≈ $14.35. Options: 18 managers hold calls ($194.6m notional), 16 hold puts ($499.0m).
Trends to Q1 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 314 |
| Q4 2022 | 322 |
| Q1 2023 | 310 |
| Q2 2023 | 304 |
| Q3 2023 | 308 |
| Q4 2023 | 313 |
| Q1 2024 | 317 |
| Q2 2024 | 304 |
| Q3 2024 | 303 |
| Q4 2024 | 288 |
| Q1 2025 | 295 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 144 | 141 |
| Q3 2023 | 141 | 145 |
| Q4 2023 | 150 | 155 |
| Q1 2024 | 157 | 150 |
| Q2 2024 | 145 | 162 |
| Q3 2024 | 158 | 140 |
| Q4 2024 | 139 | 143 |
| Q1 2025 | 152 | 133 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $188.9m | $218.0m | 1.15 |
| Q3 2024 | $241.2m | $310.2m | 1.29 |
| Q4 2024 | $264.4m | $454.2m | 1.72 |
| Q1 2025 | $194.6m | $499.0m | 2.56 |
Biggest buyers
| GOLDMAN SACHS GROUP INC | Added | +7.8m |
| TORONTO DOMINION BANK | Added | +3.5m |
| NATIONAL BANK OF CANADA /FI/ | Added | +3.1m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | New | +3.0m |
| UBS Group AG | Added | +2.7m |
| CIBC Asset Management Inc | Added | +2.6m |
| FMR LLC | Added | +2.6m |
| BANK OF AMERICA CORP /DE/ | Added | +2.0m |
| ROYAL BANK OF CANADA | Added | +2.0m |
| Federation des caisses Desjardins du Quebec | Added | +1.9m |
Biggest sellers
| MACKENZIE FINANCIAL CORP | Reduced | -114.7m |
| Capital Research Global Investors | Sold out | -13.7m |
| BANK OF NOVA SCOTIA | Reduced | -3.8m |
| Connor, Clark & Lunn Investment Management Ltd. | Reduced | -2.6m |
| Nexus Investment Management ULC | Sold out | -2.2m |
| TD Asset Management Inc | Reduced | -2.0m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Reduced | -1.9m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Sold out | -1.7m |
| Man Group plc | Reduced | -1.6m |
| Centre Asset Management, LLC | Sold out | -512.2k |
Biggest calls
| SIG North Trading, ULC | Added | $64.6m4.5m shares |
| TORONTO DOMINION BANK | Reduced | $32.3m2.2m shares |
| ROYAL BANK OF CANADA | Reduced | $28.3m2.0m shares |
| HSBC HOLDINGS PLC | Reduced | $17.9m1.2m shares |
| CIBC WORLD MARKET INC. | Reduced | $10.8m750.0k shares |
| D. E. Shaw & Co., Inc. | Reduced | $9.7m675.0k shares |
| BANK OF AMERICA CORP /DE/ | Reduced | $7.6m530.0k shares |
| NATIONAL BANK OF CANADA /FI/ | Reduced | $6.7m4.7k shares |
| BANK OF MONTREAL /CAN/ | Reduced | $4.3m300.0k shares |
| UBS Group AG | Unchanged | $3.6m250.0k shares |
Biggest puts
| ROYAL BANK OF CANADA | Added | $175.1m12.2m shares |
| SIG North Trading, ULC | Added | $128.7m9.0m shares |
| CIBC WORLD MARKET INC. | Reduced | $69.5m4.8m shares |
| TORONTO DOMINION BANK | Added | $48.7m3.4m shares |
| JANE STREET GROUP, LLC | Reduced | $19.3m1.3m shares |
| BANK OF MONTREAL /CAN/ | Added | $15.8m1.1m shares |
| DeepCurrents Investment Group LLC | Reduced | $14.1m6.8k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $13.9m675.0k shares |
| D. E. Shaw & Co., Inc. | Unchanged | $9.7m675.0k shares |
| NATIONAL BANK OF CANADA /FI/ | Added | $1.4m976 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.
No one currently above 5% in the filings since 19 Dec 2024.
Fell to 5% or below in the last year: BANK OF MONTREAL /CAN/ (3.8%, 2025-11-14)
Insider purchases and sales in Q1 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 Q1 2025.
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| ROYAL BANK OF CANADA 0.52% of their portfolio | 162.5m $2.3bn | Added +2.0m |
| BANK OF MONTREAL /CAN/ 0.64% of their portfolio | 83.4m $1.2bn | Added +1.9m |
| CIBC WORLD MARKET INC. 1.52% of their portfolio | 46.4m $665.9m | Reduced -104.5k |
| 1832 Asset Management L.P. 1.11% of their portfolio | 40.7m $582.9m | Reduced -387.9k |
| TD Asset Management Inc 0.48% of their portfolio | 36.4m $522.2m | Reduced -2.0m |
| MACKENZIE FINANCIAL CORP 0.67% of their portfolio | 33.0m $473.6m | Reduced -114.7m |
| NATIONAL BANK OF CANADA /FI/ 0.50% of their portfolio | 29.9m $428.1m | Added +3.1m |
| BANK OF NOVA SCOTIA 0.85% of their portfolio | 26.4m $378.9m | Reduced -3.8m |
| VANGUARD GROUP INC 0.01% of their portfolio | 26.2m $375.6m | Added +384.5k |
| Federation des caisses Desjardins du Quebec 1.63% of their portfolio | 22.9m $328.6m | Added +1.9m |
| CIBC Asset Management Inc 1.02% of their portfolio | 21.4m $307.0m | Added +2.6m |
| SCOTIA CAPITAL INC. 1.43% of their portfolio | 18.6m $266.1m | Added +831.3k |
| Fiera Capital Corp 0.84% of their portfolio | 16.3m $233.6m | Added +192.6k |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 11.8m $169.7m | Added +7.8m |
| FIL Ltd 0.15% of their portfolio | 11.2m $161.0m | Added +1.7m |
| Invesco Ltd. 0.03% of their portfolio | 11.0m $157.8m | Added +12.1k |
| TD Waterhouse Canada Inc. 1.26% of their portfolio | 10.8m $154.1m | Added +785.8k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 10.2m $146.1m | Added +2.0m |
| TORONTO DOMINION BANK 0.31% of their portfolio | 8.3m $119.6m | Added +3.5m |
| FIRST TRUST ADVISORS LP 0.10% of their portfolio | 7.5m $107.9m | Added +269.0k |
| JANUS HENDERSON GROUP PLC 0.06% of their portfolio | 7.2m $102.5m | Reduced -149.5k |
| LETKO, BROSSEAU & ASSOCIATES INC 1.97% of their portfolio | 6.5m $92.6m | Reduced -75.4k |
| Clearbridge Investments, LLC 0.07% of their portfolio | 5.9m $84.9m | Reduced -259.9k |
| UBS Group AG 0.02% of their portfolio | 5.6m $80.9m | Added +2.7m |
| NORGES BANK 0.01% of their portfolio | 5.2m $74.2m | Reduced -12.0k |
| MORGAN STANLEY 0.00% of their portfolio | 4.3m $62.1m | Added +1.2m |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 4.3m $61.8m | Added +891.9k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.06% of their portfolio | 4.2m $59.9m | Reduced -1.9m |
| GUARDIAN CAPITAL LP 2.14% of their portfolio | 3.8m $54.4m | Reduced -106.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 3.7m $57.2m | Added +716.5k |
| FMR LLC 0.00% of their portfolio | 3.7m $52.4m | Added +2.6m |
| Scheer, Rowlett & Associates Investment Management Ltd. 3.72% of their portfolio | 3.5m $50.2m | Added +97.7k |
| SIG North Trading, ULC 9.41% of their portfolio | 3.2m $46.1m | Added +705.3k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.04% of their portfolio | 3.0m $43.2m | New |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.45% of their portfolio | 2.7m $38.2m | Unchanged |
| Alberta Investment Management Corp 0.25% of their portfolio | 2.6m $36.8m | Reduced -369.6k |
| FEDERATED HERMES, INC. 0.07% of their portfolio | 2.4m $34.1m | Added +305.5k |
| MUFG SECURITIES (CANADA), LTD. 1.13% of their portfolio | 2.3m $32.5m | Added +27.7k |
| BANK OF NOVA SCOTIA TRUST CO 3.13% of their portfolio | 2.0m $29.3m | Reduced -4.3k |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 3.54% of their portfolio | 1.9m $27.9m | Reduced -17.1k |
| INTACT INVESTMENT MANAGEMENT INC. 0.95% of their portfolio | 1.9m $27.6m | Added +64.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 1.8m $26.1m | Added +151.2k |
| Swiss National Bank 0.01% of their portfolio | 1.4m $20.2m | Reduced -19.0k |
| Amundi 0.01% of their portfolio | 1.4m $19.8m | Reduced -33.6k |
| BlackRock, Inc. 0.00% of their portfolio | 1.2m $17.8m | Added +127.9k |
| MONTRUSCO BOLTON INVESTMENTS INC. 0.22% of their portfolio | 1.2m $16.8m | Added +78.0k |
| NICOLA WEALTH MANAGEMENT LTD. 1.53% of their portfolio | 1.1m $15.7m | Unchanged |
| AEGON ASSET MANAGEMENT UK Plc 0.22% of their portfolio | 1.0m $14.8m | Added +14.7k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 1.0m $14.4m | Reduced -11.7k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.07% of their portfolio | 841.8k $12.1m | Reduced -215.0k |
| Guardian Partners Inc. 1.25% of their portfolio | 831.5k $12.1m | Reduced -55.3k |
| NATIXIS 0.07% of their portfolio | 803.2k $11.6m | Added +137.2k |
| Heathbridge Capital Management Ltd. 4.57% of their portfolio | 784.5k $11.3m | Reduced -16.1k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 779.7k $11.2m | Added +11.9k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 770.3k $11.0m | Reduced -9.2k |
| AGF MANAGEMENT LTD 0.06% of their portfolio | 768.1k $11.4m | Reduced -104.3k |
| APG Asset Management N.V. 0.03% of their portfolio | 717.8k $9.5m | Reduced -71.7k |
| CANADA LIFE ASSURANCE Co 0.02% of their portfolio | 714.4k $10.3m | Added +25.5k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 651.1k $9.3m | Added +185.0k |
| JARISLOWSKY, FRASER Ltd 0.06% of their portfolio | 646.8k $9.3m | Reduced -81.9k |
| Northwest & Ethical Investments L.P. 0.25% of their portfolio | 645.9k $9.3m | Added +143.5k |
| Forge First Asset Management Inc. 3.95% of their portfolio | 622.2k $8.9m | New |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 588.5k $8.5m | Added +60.2k |
| JANE STREET GROUP, LLC 0.02% of their portfolio | 587.4k $8.4m | Reduced -77.8k |
| BARCLAYS PLC 0.00% of their portfolio | 547.1k $7.8m | Reduced -18.3k |
| Man Group plc 0.02% of their portfolio | 535.4k $7.7m | Reduced -1.6m |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 499.5k $7.2m | Reduced -29.4k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 474.1k $6.8m | Added +75.5k |
| CITIGROUP INC 0.00% of their portfolio | 449.2k $6.4m | Reduced -28.4k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 447.3k $6.4m | Reduced -9.6k |
| Connor, Clark & Lunn Investment Management Ltd. 0.03% of their portfolio | 442.1k $6.3m | Reduced -2.6m |
| GABELLI FUNDS LLC 0.05% of their portfolio | 435.0k $6.2m | Unchanged |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio | 415.3k $6.0m | Added +33.6k |
| DekaBank Deutsche Girozentrale 0.01% of their portfolio | 402.5k $5.7m | Reduced -534 |
| Waratah Capital Advisors Ltd. 0.39% of their portfolio | 402.5k $5.8m | New |
| Nuveen, LLC 0.00% of their portfolio | 383.8k $5.5m | First filing |
| Cardinal Capital Management, Inc. 0.19% of their portfolio | 381.9k $5.5m | Added +6.8k |
| Aviso Financial Inc. 0.26% of their portfolio | 374.5k $5.4m | Added +37.5k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.02% of their portfolio | 351.2k $7.2m | Added +9.0k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 347.9k $5.0m | Reduced -61.1k |
| AVIVA PLC 0.01% of their portfolio | 345.0k $5.0m | Added +50.2k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 315.6k $4.5m | Reduced -44.8k |
| LPL Financial LLC 0.00% of their portfolio | 300.8k $4.3m | Added +21.3k |
| Beutel, Goodman & Co Ltd. 0.02% of their portfolio | 299.5k $4.3m | New |
| FORSTA AP-FONDEN 0.03% of their portfolio | 291.2k $4.2m | Reduced -69.1k |
| Claret Asset Management Corp 0.58% of their portfolio | 281.0k $4.0m | Added +43.2k |
| Wealth Advisors of Tampa Bay, LLC 1.62% of their portfolio | 278.5k $4.0m | Added +20.1k |
| TWO SIGMA ADVISERS, LP 0.01% of their portfolio | 269.0k $3.9m | New |
| CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio | 267.7k $3.8m | Reduced -182.4k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 263.4k $3.8m | Added +133.9k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 253.2k $3.6m | Reduced -136.9k |
| Rockefeller Capital Management L.P. 0.01% of their portfolio | 241.1k $3.5m | Added +68.8k |
| USS Investment Management Ltd 0.03% of their portfolio | 231.6k $3.3m | Added +4.8k |
| Pictet Asset Management Holding SA 0.00% of their portfolio | 211.9k $3.0m | Added +3.2k |
| Clean Yield Group 0.97% of their portfolio | 207.7k $3.0m | Reduced -8.8k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 206.0k $3.0m | Reduced -130.9k |
| Harvest Portfolios Group Inc. 0.09% of their portfolio | 205.1k $2.9m | Reduced -394.1k |
| Ninepoint Partners LP 0.50% of their portfolio | 198.9k $2.9m | Added +6.6k |
| Burgundy Asset Management Ltd. 0.03% of their portfolio | 197.1k $2.8m | Reduced -1.6k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 191.8k $2.8m | First filing |