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 ($389.8m this quarter). Holder counts are more reliable. Shares outstanding: 1.5bn as of 2025-12-31, 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 ≈ $15.77. Options: 20 managers hold calls ($302.8m notional), 11 hold puts ($854.8m).
Trends to Q3 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 |
| Q2 2025 | 302 |
| Q3 2025 | 303 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2023 | 150 | 155 |
| Q1 2024 | 157 | 150 |
| Q2 2024 | 145 | 162 |
| Q3 2024 | 158 | 140 |
| Q4 2024 | 139 | 143 |
| Q1 2025 | 152 | 133 |
| Q2 2025 | 147 | 133 |
| Q3 2025 | 151 | 126 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $264.4m | $454.2m | 1.72 |
| Q1 2025 | $194.6m | $499.0m | 2.56 |
| Q2 2025 | $355.7m | $1.1bn | 2.99 |
| Q3 2025 | $302.8m | $854.8m | 2.82 |
Biggest buyers
| MORGAN STANLEY | Added | +4.2m |
| JPMORGAN CHASE & CO | Added | +3.7m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +2.6m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Added | +1.9m |
| Fiera Capital Corp | Added | +1.7m |
| SIG North Trading, ULC | Added | +1.7m |
| CIBC Asset Management Inc | Added | +1.6m |
| TORONTO DOMINION BANK | Added | +1.5m |
| VANGUARD GROUP INC | Added | +1.3m |
| FIL Ltd | Added | +859.2k |
Biggest sellers
| ROYAL BANK OF CANADA | Reduced | -209.1m |
| CIBC WORLD MARKET INC. | Reduced | -5.5m |
| NATIONAL BANK OF CANADA /FI/ | Reduced | -5.1m |
| BANK OF NOVA SCOTIA | Reduced | -5.0m |
| FMR LLC | Reduced | -3.0m |
| BANK OF MONTREAL /CAN/ | Reduced | -1.8m |
| GOLDMAN SACHS GROUP INC | Reduced | -1.6m |
| 1832 Asset Management L.P. | Reduced | -1.4m |
| Alberta Investment Management Corp | Sold out | -1.0m |
| D. E. Shaw & Co., Inc. | Reduced | -780.9k |
Biggest calls
| SIG North Trading, ULC | Reduced | $81.5m5.2m shares |
| ROYAL BANK OF CANADA | Reduced | $65.8m4.2m shares |
| TORONTO DOMINION BANK | Reduced | $37.0m2.4m shares |
| D. E. Shaw & Co., Inc. | Added | $33.3m2.1m shares |
| BANK OF AMERICA CORP /DE/ | Added | $24.1m1.5m shares |
| HSBC HOLDINGS PLC | Unchanged | $18.1m1.1m shares |
| NATIONAL BANK OF CANADA /FI/ | Reduced | $8.4m5.3k shares |
| CIBC WORLD MARKET INC. | Added | $6.7m425.0k shares |
| MILLENNIUM MANAGEMENT LLC | Unchanged | $6.0m275.0k shares |
| GROUP ONE TRADING LLC | Added | $4.9m308.0k shares |
Biggest puts
| ROYAL BANK OF CANADA | Reduced | $333.8m21.2m shares |
| SIG North Trading, ULC | Added | $177.3m11.2m shares |
| GOLDMAN SACHS GROUP INC | Added | $142.2m9.0m shares |
| TORONTO DOMINION BANK | Added | $72.1m4.6m shares |
| CIBC WORLD MARKET INC. | Reduced | $68.1m4.3m shares |
| D. E. Shaw & Co., Inc. | Added | $40.8m2.6m shares |
| MILLENNIUM MANAGEMENT LLC | Unchanged | $14.8m675.0k shares |
| BANK OF MONTREAL /CAN/ | Reduced | $4.7m300.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $604.0k38.3k shares |
| WOLVERINE TRADING, LLC | New | $279.0k17.7k 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.
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 Q3 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 Q3 2025.
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| ROYAL BANK OF CANADA 0.54% of their portfolio | 192.6m $3.0bn | Reduced -209.1m |
| BANK OF MONTREAL /CAN/ 0.55% of their portfolio | 81.7m $1.3bn | Reduced -1.8m |
| 1832 Asset Management L.P. 1.03% of their portfolio | 38.7m $609.9m | Reduced -1.4m |
| CIBC WORLD MARKET INC. 1.22% of their portfolio | 37.5m $589.9m | Reduced -5.5m |
| TD Asset Management Inc 0.47% of their portfolio | 36.9m $580.7m | Added +550.6k |
| MACKENZIE FINANCIAL CORP 0.62% of their portfolio | 32.4m $509.6m | Reduced -127.1k |
| VANGUARD GROUP INC 0.01% of their portfolio | 28.6m $449.7m | Added +1.3m |
| Federation des caisses Desjardins du Quebec 1.42% of their portfolio | 22.9m $360.9m | Added +499.2k |
| NATIONAL BANK OF CANADA /FI/ 0.39% of their portfolio | 21.9m $345.4m | Reduced -5.1m |
| SCOTIA CAPITAL INC. 1.32% of their portfolio | 19.7m $310.1m | Added +845.7k |
| CIBC Asset Management Inc 0.86% of their portfolio | 18.8m $295.6m | Added +1.6m |
| Fiera Capital Corp 0.91% of their portfolio | 17.9m $281.3m | Added +1.7m |
| BANK OF NOVA SCOTIA 0.41% of their portfolio | 14.7m $232.2m | Reduced -5.0m |
| FIL Ltd 0.18% of their portfolio | 14.2m $224.2m | Added +859.2k |
| TD Waterhouse Canada Inc. 1.19% of their portfolio | 11.6m $183.1m | Added +135.6k |
| Invesco Ltd. 0.03% of their portfolio | 10.4m $164.1m | Reduced -73.5k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 10.0m $157.3m | Reduced -352.7k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 9.4m $148.9m | Reduced -1.6m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.09% of their portfolio | 9.0m $142.4m | Added +2.6m |
| TORONTO DOMINION BANK 0.28% of their portfolio | 9.0m $142.0m | Added +1.5m |
| MORGAN STANLEY 0.01% of their portfolio | 8.9m $139.7m | Added +4.2m |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 7.5m $118.1m | Added +3.7m |
| FIRST TRUST ADVISORS LP 0.09% of their portfolio | 7.5m $117.9m | Added +743.5k |
| JANUS HENDERSON GROUP PLC 0.05% of their portfolio | 7.1m $112.1m | Reduced -109 |
| LETKO, BROSSEAU & ASSOCIATES INC 1.79% of their portfolio | 6.6m $104.4m | Added +31.6k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.07% of their portfolio | 5.5m $87.1m | Added +1.9m |
| Clearbridge Investments, LLC 0.07% of their portfolio | 5.5m $86.9m | Reduced -108.5k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 5.2m $86.8m | Added +677.3k |
| BESSEMER GROUP INC 0.09% of their portfolio | 3.9m $60.8m | Added +433.2k |
| GUARDIAN CAPITAL LP 1.86% of their portfolio | 3.6m $57.5m | Reduced -138.1k |
| SIG North Trading, ULC 7.89% of their portfolio | 3.2m $51.2m | Added +1.7m |
| Scheer, Rowlett & Associates Investment Management Ltd. 3.02% of their portfolio | 3.2m $50.7m | Reduced -57.2k |
| UBS Group AG 0.01% of their portfolio | 3.0m $47.7m | Reduced -556.0k |
| PICTON MAHONEY ASSET MANAGEMENT 0.58% of their portfolio | 2.9m $45.6m | Reduced -300.7k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.48% of their portfolio | 2.7m $42.0m | Unchanged |
| FEDERATED HERMES, INC. 0.07% of their portfolio | 2.7m $41.9m | Added +70.8k |
| AGF MANAGEMENT LTD 0.18% of their portfolio | 2.5m $40.4m | Reduced -634.8k |
| MUFG SECURITIES (CANADA), LTD. 1.12% of their portfolio | 2.5m $40.0m | Reduced -26.9k |
| INTACT INVESTMENT MANAGEMENT INC. 1.16% of their portfolio | 2.4m $38.3m | Added +212.5k |
| BANK OF NOVA SCOTIA TRUST CO 3.38% of their portfolio | 2.3m $36.4m | Added +107.6k |
| NICOLA WEALTH MANAGEMENT LTD. 2.98% of their portfolio | 2.1m $33.5m | Added +72.0k |
| CITIGROUP INC 0.02% of their portfolio | 1.9m $30.4m | Added +790.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 1.9m $30.3m | Added +53.6k |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 2.89% of their portfolio | 1.7m $26.0m | Reduced -252.0k |
| BlackRock, Inc. 0.00% of their portfolio | 1.5m $23.7m | Added +12.3k |
| Swiss National Bank 0.01% of their portfolio | 1.5m $23.0m | Reduced -59.1k |
| Amundi 0.01% of their portfolio | 1.4m $22.3m | Reduced -91.1k |
| Connor, Clark & Lunn Investment Management Ltd. 0.07% of their portfolio | 1.4m $21.4m | Added +566.1k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 1.2m $19.4m | Added +16.5k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 1.1m $16.9m | Added +48.9k |
| NATIXIS 0.08% of their portfolio | 972.3k $15.3m | Added +355.6k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.01% of their portfolio | 929.8k $14.6m | Added +422.9k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.08% of their portfolio | 883.4k $13.9m | Added +63.1k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 818.2k $12.9m | Added +764.5k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 816.7k $12.9m | Reduced -780.9k |
| Guardian Partners Inc. 1.06% of their portfolio | 791.2k $12.5m | Reduced -41.3k |
| Galibier Capital Management Ltd. 4.13% of their portfolio | 786.7k $12.4m | Reduced -115.7k |
| APG Asset Management N.V. 0.03% of their portfolio | 781.7k $10.5m | Reduced -11.3k |
| Heathbridge Capital Management Ltd. 4.67% of their portfolio | 772.8k $12.2m | Reduced -5.6k |
| Northwest & Ethical Investments L.P. 0.27% of their portfolio | 724.0k $11.4m | Reduced -11.2k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 701.1k $11.1m | Added +69.8k |
| BARCLAYS PLC 0.00% of their portfolio | 681.4k $10.7m | Reduced -401.1k |
| FMR LLC 0.00% of their portfolio | 663.5k $10.5m | Reduced -3.0m |
| Bank of New York Mellon Corp 0.00% of their portfolio | 650.7k $10.3m | Added +4.4k |
| JARISLOWSKY, FRASER Ltd 0.06% of their portfolio | 645.2k $10.2m | Reduced -9.6k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 581.0k $9.2m | Added +32.0k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 560.2k $8.8m | Added +25.7k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 493.3k $7.8m | Added +147.0k |
| AEGON ASSET MANAGEMENT UK Plc 0.09% of their portfolio | 489.8k $7.7m | Reduced -564.8k |
| MONTRUSCO BOLTON INVESTMENTS INC. 0.09% of their portfolio | 475.3k $7.5m | Reduced -410.2k |
| Harvest Portfolios Group Inc. 0.12% of their portfolio | 423.3k $6.7m | Added +220.6k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 423.2k $6.7m | Added +5.5k |
| DekaBank Deutsche Girozentrale 0.01% of their portfolio | 403.1k $6.3m | Unchanged |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.02% of their portfolio | 396.7k $6.3m | Added +597 |
| Waratah Capital Advisors Ltd. 0.43% of their portfolio | 396.7k $6.3m | Reduced -8.4k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 391.0k $6.2m | Reduced -20.8k |
| AVIVA PLC 0.01% of their portfolio | 390.4k $6.1m | Added +23.6k |
| GABELLI FUNDS LLC 0.04% of their portfolio | 385.0k $6.1m | Reduced -30.0k |
| Nuveen, LLC 0.00% of their portfolio | 383.8k $6.0m | Unchanged |
| Lorne Steinberg Wealth Management Inc. 1.41% of their portfolio | 372.0k $5.9m | New |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 367.8k $5.8m | Added +293.8k |
| LPL Financial LLC 0.00% of their portfolio | 364.5k $5.7m | Added +38.4k |
| Cardinal Capital Management, Inc. 0.16% of their portfolio | 350.8k $5.5m | Added +12.8k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 345.9k $5.5m | Added +194.9k |
| FORSTA AP-FONDEN 0.03% of their portfolio | 335.9k $5.3m | Added +79.1k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.02% of their portfolio | 330.8k $7.2m | Added +3.2k |
| Morningstar Investment Management LLC 0.18% of their portfolio | 319.0k $5.0m | New |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio | 318.8k $5.0m | Reduced -117.4k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 301.4k $4.8m | Reduced -139.9k |
| Aviso Financial Inc. 0.19% of their portfolio | 300.5k $4.7m | Added +11.9k |
| Claret Asset Management Corp 0.54% of their portfolio | 290.3k $4.6m | Added +8.7k |
| OSSIAM 0.06% of their portfolio | 287.3k $4.5m | Added +198.1k |
| Quantinno Capital Management LP 0.01% of their portfolio | 285.9k $4.5m | Added +25.4k |
| Wealth Advisors of Tampa Bay, LLC 1.37% of their portfolio | 260.3k $4.1m | Reduced -22.5k |
| Beutel, Goodman & Co Ltd. 0.02% of their portfolio | 252.2k $4.0m | Reduced -23.9k |
| NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio | 246.3k $3.9m | Added +10.3k |
| PDT Partners, LLC 0.24% of their portfolio | 245.7k $3.9m | Added +10.6k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 244.4k $3.8m | Added +31.1k |
| USS Investment Management Ltd 0.02% of their portfolio | 240.9k $3.8m | Added +4.6k |
| Capital World Investors 0.00% of their portfolio | 240.3k $3.8m | Added +121.6k |