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 ($304.8m 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 ≈ $12.87. Options: 13 managers hold calls ($225.2m notional), 13 hold puts ($590.5m).
Trends to Q1 2026
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 |
| Q4 2025 | 306 |
| Q1 2026 | 290 |
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 2024 | 145 | 162 |
| Q3 2024 | 158 | 140 |
| Q4 2024 | 139 | 143 |
| Q1 2025 | 152 | 133 |
| Q2 2025 | 147 | 133 |
| Q3 2025 | 151 | 126 |
| Q4 2025 | 137 | 156 |
| Q1 2026 | 140 | 140 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $355.7m | $1.1bn | 2.99 |
| Q3 2025 | $302.8m | $854.8m | 2.82 |
| Q4 2025 | $313.0m | $800.4m | 2.56 |
| Q1 2026 | $225.2m | $590.5m | 2.62 |
Biggest buyers
| Federation des caisses Desjardins du Quebec | Added | +11.5m |
| TD Waterhouse Canada Inc. | Added | +11.2m |
| MORGAN STANLEY | Added | +5.5m |
| CIBC WORLD MARKET INC. | Added | +5.4m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Added | +4.3m |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | Added | +4.1m |
| TWO SIGMA INVESTMENTS, LP | Added | +4.1m |
| BANK OF NOVA SCOTIA | Added | +3.6m |
| BARCLAYS PLC | Added | +2.8m |
| SIG North Trading, ULC | Added | +2.6m |
Biggest sellers
| ROYAL BANK OF CANADA | Reduced | -19.0m |
| GOLDMAN SACHS GROUP INC | Reduced | -13.4m |
| 1832 Asset Management L.P. | Reduced | -8.2m |
| BANK OF AMERICA CORP /DE/ | Reduced | -3.9m |
| TORONTO DOMINION BANK | Reduced | -3.3m |
| FIL Ltd | Reduced | -3.0m |
| CIBC Asset Management Inc | Reduced | -2.9m |
| GUARDIAN CAPITAL LP | Reduced | -2.5m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -2.5m |
| UBS Group AG | Reduced | -2.3m |
Biggest calls
| SIG North Trading, ULC | Reduced | $60.8m4.7m shares |
| D. E. Shaw & Co., Inc. | Added | $56.8m4.4m shares |
| ROYAL BANK OF CANADA | Reduced | $55.9m4.4m shares |
| TORONTO DOMINION BANK | Added | $20.8m1.6m shares |
| NATIONAL BANK OF CANADA /FI/ | Added | $13.1m10.2k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $9.4m525.0k shares |
| SIMPLEX TRADING, LLC | Added | $2.3m176.3k shares |
| GROUP ONE TRADING LLC | Added | $2.1m163.2k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $2.1m163.1k shares |
| CIBC WORLD MARKET INC. | Reduced | $1.3m100.0k shares |
Biggest puts
| ROYAL BANK OF CANADA | Reduced | $261.8m20.4m shares |
| SIG North Trading, ULC | Added | $170.7m13.3m shares |
| TORONTO DOMINION BANK | Reduced | $42.3m3.3m shares |
| D. E. Shaw & Co., Inc. | Added | $39.2m3.1m shares |
| CIBC WORLD MARKET INC. | Reduced | $25.7m2.0m shares |
| GOLDMAN SACHS GROUP INC | Reduced | $20.5m1.6m shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $16.5m925.0k shares |
| BANK OF MONTREAL /CAN/ | Reduced | $6.5m506.5k shares |
| NATIONAL BANK OF CANADA /FI/ | New | $5.1m4.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $1.9m151.1k 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 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
| Manager | Shares | Change |
|---|---|---|
| ROYAL BANK OF CANADA 0.25% of their portfolio | 104.1m $1.3bn | Reduced -19.0m |
| BANK OF MONTREAL /CAN/ 0.32% of their portfolio | 59.9m $770.1m | Reduced -2.0m |
| CIBC WORLD MARKET INC. 1.10% of their portfolio | 48.7m $625.2m | Added +5.4m |
| TD Asset Management Inc 0.39% of their portfolio | 37.5m $480.1m | Added +783.4k |
| MACKENZIE FINANCIAL CORP 0.52% of their portfolio | 33.6m $432.3m | Added +322.8k |
| Federation des caisses Desjardins du Quebec 1.42% of their portfolio | 30.9m $394.9m | Added +11.5m |
| FIL Ltd 0.27% of their portfolio | 27.3m $350.9m | Reduced -3.0m |
| 1832 Asset Management L.P. 0.42% of their portfolio | 24.8m $318.5m | Reduced -8.2m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.27% of their portfolio | 24.1m $309.2m | Added +4.3m |
| NATIONAL BANK OF CANADA /FI/ 0.31% of their portfolio | 23.9m $307.2m | Added +1.0m |
| BANK OF NOVA SCOTIA 0.47% of their portfolio | 21.1m $271.2m | Added +3.6m |
| TD Waterhouse Canada Inc. 0.78% of their portfolio | 20.4m $263.9m | Added +11.2m |
| SCOTIA CAPITAL INC. 0.89% of their portfolio | 16.9m $217.4m | Added +196.0k |
| Fiera Capital Corp 0.71% of their portfolio | 16.3m $208.7m | Reduced -1.1m |
| CIBC Asset Management Inc 0.49% of their portfolio | 15.6m $200.5m | Reduced -2.9m |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 14.7m $188.4m | First filing |
| MORGAN STANLEY 0.01% of their portfolio | 13.8m $177.4m | Added +5.5m |
| Invesco Ltd. 0.02% of their portfolio | 12.2m $156.1m | Reduced -331.8k |
| Vanguard Global Advisers, LLC 0.07% of their portfolio | 10.8m $138.9m | First filing |
| FIRST TRUST ADVISORS LP 0.09% of their portfolio | 9.8m $126.3m | Added +486.0k |
| SIG North Trading, ULC 22.23% of their portfolio | 8.6m $110.8m | Added +2.6m |
| LETKO, BROSSEAU & ASSOCIATES INC 1.54% of their portfolio | 7.4m $95.3m | Added +665.0k |
| JANUS HENDERSON GROUP PLC 0.04% of their portfolio | 6.5m $82.9m | Unchanged |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 6.5m $82.9m | Reduced -13.4m |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 6.3m $88.8m | Added +575.0k |
| TORONTO DOMINION BANK 0.16% of their portfolio | 6.3m $81.1m | Reduced -3.3m |
| TWO SIGMA INVESTMENTS, LP 0.06% of their portfolio | 5.9m $75.6m | Added +4.1m |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 5.5m $70.2m | Added +1.2m |
| Clearbridge Investments, LLC 0.06% of their portfolio | 5.2m $66.3m | Reduced -182.5k |
| VANGUARD FIDUCIARY TRUST CO 0.01% of their portfolio | 4.5m $58.3m | First filing |
| UBS Group AG 0.01% of their portfolio | 4.5m $57.9m | Reduced -2.3m |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.05% of their portfolio | 4.5m $57.1m | Added +4.1m |
| INTACT INVESTMENT MANAGEMENT INC. 1.51% of their portfolio | 4.1m $53.1m | Added +1.7m |
| BARCLAYS PLC 0.02% of their portfolio | 4.1m $52.5m | Added +2.8m |
| Scheer, Rowlett & Associates Investment Management Ltd. 2.98% of their portfolio | 3.2m $41.5m | Reduced -126.4k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.50% of their portfolio | 2.7m $47.7m | Unchanged |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 2.7m $34.1m | Reduced -3.9m |
| FEDERATED HERMES, INC. 0.05% of their portfolio | 2.6m $33.5m | Added +249.6k |
| BANK OF NOVA SCOTIA TRUST CO 2.60% of their portfolio | 2.4m $30.3m | Added +4.5k |
| Balyasny Asset Management L.P. 0.06% of their portfolio | 2.3m $29.1m | Added +2.2m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 2.2m $28.8m | Added +260.9k |
| MUFG SECURITIES (CANADA), LTD. 0.79% of their portfolio | 2.1m $27.5m | Reduced -149.9k |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 2.1m $27.2m | Reduced -1.1m |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 2.92% of their portfolio | 2.1m $27.5m | Added +281.4k |
| Purpose Unlimited Inc. 1.09% of their portfolio | 2.1m $26.4m | Added +794.0k |
| BlackRock, Inc. 0.00% of their portfolio | 2.0m $26.2m | Reduced -263.3k |
| D. E. Shaw & Co., Inc. 0.02% of their portfolio | 1.9m $23.8m | Added +1.2m |
| Swiss National Bank 0.01% of their portfolio | 1.7m $22.1m | Added +379.2k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.01% of their portfolio | 1.6m $20.6m | Reduced -160.0k |
| Amundi 0.01% of their portfolio | 1.6m $20.1m | Added +11.8k |
| Alberta Investment Management Corp 0.12% of their portfolio | 1.5m $18.9m | New |
| Public Sector Pension Investment Board 0.06% of their portfolio | 1.5m $18.7m | Added +1.2m |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 1.3m $17.3m | Reduced -2.8k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.10% of their portfolio | 1.3m $16.9m | Added +501.8k |
| NICOLA WEALTH MANAGEMENT LTD. 1.89% of their portfolio | 1.2m $15.7m | Unchanged |
| Heathbridge Capital Management Ltd. 5.39% of their portfolio | 1.2m $14.8m | Reduced -4.6k |
| NATIXIS 0.06% of their portfolio | 1.1m $14.1m | Reduced -33.3k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.02% of their portfolio | 1.1m $13.8m | New |
| Harvest Portfolios Group Inc. 0.22% of their portfolio | 1.1m $13.5m | Added +148.2k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 932.9k $12.0m | Added +184.5k |
| State of Tennessee, Department of Treasury 0.03% of their portfolio | 791.6k $10.1m | Unchanged |
| APG Asset Management N.V. 0.03% of their portfolio | 756.1k $8.4m | Reduced -27.7k |
| Northwest & Ethical Investments L.P. 0.22% of their portfolio | 753.2k $9.7m | Added +61.1k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.01% of their portfolio | 685.0k $8.8m | First filing |
| FMR LLC 0.00% of their portfolio | 665.6k $8.6m | Reduced -87.1k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 617.2k $7.9m | Added +162.7k |
| CITIGROUP INC 0.01% of their portfolio | 614.1k $7.9m | Reduced -258.4k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 497.5k $6.4m | Added +46.5k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.01% of their portfolio | 493.8k $6.3m | Added +44.0k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 493.6k $6.3m | Added +157.7k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 492.0k $6.3m | Reduced -168.6k |
| Vest Financial, LLC 0.07% of their portfolio | 458.1k $5.9m | Added +100.3k |
| Quantbot Technologies LP 0.23% of their portfolio | 434.3k $5.6m | Added +156.7k |
| AVIVA PLC 0.01% of their portfolio | 425.7k $5.5m | Added +11.4k |
| DekaBank Deutsche Girozentrale 0.01% of their portfolio | 403.1k $5.3m | Unchanged |
| Man Group plc 0.01% of their portfolio | 401.8k $5.2m | Reduced -424.8k |
| Guardian Partners Inc. 0.43% of their portfolio | 396.8k $5.1m | Reduced -76.9k |
| Nuveen, LLC 0.00% of their portfolio | 391.4k $5.0m | Unchanged |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 386.7k $5.0m | Reduced -3.3k |
| GABELLI FUNDS LLC 0.03% of their portfolio | 377.0k $4.8m | Unchanged |
| LPL Financial LLC 0.00% of their portfolio | 368.1k $4.7m | Added +24.7k |
| Quantinno Capital Management LP 0.01% of their portfolio | 360.2k $4.6m | Added +122.3k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 355.6k $4.6m | Reduced -353.4k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 292.9k $3.8m | Added +19.8k |
| Connor, Clark & Lunn Investment Management Ltd. 0.01% of their portfolio | 275.8k $3.5m | Added +28.5k |
| Trexquant Investment LP 0.03% of their portfolio | 273.0k $3.5m | Reduced -332.3k |
| USS Investment Management Ltd 0.01% of their portfolio | 268.2k $3.4m | Added +6.3k |
| Claret Asset Management Corp 0.41% of their portfolio | 264.6k $3.4m | Reduced -4.0k |
| Vanguard Investments Australia, Ltd. 0.01% of their portfolio | 258.4k $3.3m | First filing |
| FJARDE AP-FONDEN /FOURTH SWEDISH NATIONAL PENSION FUND 0.02% of their portfolio | 254.1k $3.3m | New |
| PDT Partners, LLC 0.19% of their portfolio | 253.1k $3.2m | Added +151.4k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 252.8k $3.2m | Added +1.6k |
| Capital World Investors 0.00% of their portfolio | 247.3k $3.2m | Added +4.0k |
| Pictet Asset Management Holding SA 0.00% of their portfolio | 233.8k $3.0m | Reduced -123 |
| Investment Management Corp of Ontario 0.04% of their portfolio | 225.2k $2.9m | Added +35.4k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 224.6k $2.9m | Reduced -2.5m |
| Swiss Life Asset Management Ltd 0.01% of their portfolio | 224.0k $2.9m | Added +58.7k |
| Aviso Financial Inc. 0.09% of their portfolio | 202.4k $2.6m | Reduced -3.9k |
| DKRT Investments Corp. 0.65% of their portfolio | 200.0k $2.6m | Unchanged |
| NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio | 196.9k $2.5m | Added +14.8k |