Vault-13

VEON LTD VEON

SPONSORED ADS · ADR · CUSIP 91822M502

Holding company founded in 2009 and headquartered in Dubai

101 institutional holders -14 vs Q4 2025
16,853,40916.9m shares reported held*
$780.3mreported value*
9 new 37 added 34 reduced 23 sold out net sold ≈ $20.9m (-451.6k 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 ($217.1k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $46.30. Options: 5 managers hold calls ($2.5m notional), 3 hold puts ($3.3m).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

050100150Q1 23: 38Q2 23: 39Q3 23: 37Q4 23: 37Q1 24: 43Q2 24: 41Q3 24: 50Q4 24: 64Q1 25: 68Q2 25: 72Q3 25: 90Q4 25: 115Q1 26: 101101Q1 23Q4 23Q3 24Q2 25Q1 26
Numbers
QuarterHolders
Q1 202338
Q2 202339
Q3 202337
Q4 202337
Q1 202443
Q2 202441
Q3 202450
Q4 202464
Q1 202568
Q2 202572
Q3 202590
Q4 2025115
Q1 2026101

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q2 24: 16 bought or addedQ2 24: 12 cut or sold outQ3 24: 24 bought or addedQ3 24: 7 cut or sold outQ3 24Q4 24: 33 bought or addedQ4 24: 11 cut or sold outQ1 25: 29 bought or addedQ1 25: 23 cut or sold outQ1 25Q2 25: 34 bought or addedQ2 25: 26 cut or sold outQ3 25: 53 bought or addedQ3 25: 30 cut or sold outQ3 25Q4 25: 60 bought or addedQ4 25: 43 cut or sold outQ1 26: 46 bought or addedQ1 26: 57 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 20241612
Q3 2024247
Q4 20243311
Q1 20252923
Q2 20253426
Q3 20255330
Q4 20256043
Q1 20264657

Calls vs puts

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

CallsPuts
$0$1m$2m$3m$4mQ2 25 calls: $234.3kQ2 25 puts: $1.9mQ2 25P/C 8.02Q3 25 calls: $1.7mQ3 25 puts: $1.7mQ3 25P/C 0.99Q4 25 calls: $2.2mQ4 25 puts: $2.4mQ4 25P/C 1.11Q1 26 calls: $2.5mQ1 26 puts: $3.3mQ1 26P/C 1.35
Numbers
QuarterCallsPutsP/C
Q2 2025$234.3k$1.9m8.02
Q3 2025$1.7m$1.7m0.99
Q4 2025$2.2m$2.4m1.11
Q1 2026$2.5m$3.3m1.35

Biggest buyers

VR Advisory Services Ltd Added +293,481+293.5k
MORGAN STANLEY Added +111,685+111.7k
Panview Capital Ltd Added +42,685+42.7k
CITADEL ADVISORS LLC Added +29,186+29.2k
LANDSCAPE CAPITAL MANAGEMENT, L.L.C. New +14,112+14.1k
MACKENZIE FINANCIAL CORP Added +13,546+13.5k
Dorsey Wright & Associates Added +11,129+11.1k
TWO SIGMA INVESTMENTS, LP Added +9,561+9.6k
DIVERSIFY WEALTH MANAGEMENT, LLC Added +9,168+9.2k
UBS Group AG Added +7,582+7.6k

Biggest sellers

Helikon Investments Ltd Sold out -344,522-344.5k
MILLENNIUM MANAGEMENT LLC Reduced -108,862-108.9k
TWO SIGMA ADVISERS, LP Sold out -75,824-75.8k
Pictet Asset Management Holding SA Reduced -63,956-64.0k
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Reduced -54,427-54.4k
JPMORGAN CHASE & CO Reduced -49,353-49.4k
J. Goldman & Co LP Sold out -40,000-40.0k
DEUTSCHE BANK AG\ Reduced -30,000-30.0k
JANE STREET GROUP, LLC Sold out -28,654-28.7k
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. Sold out -24,597-24.6k

Biggest calls

GROUP ONE TRADING LLC Added $1.6m33.7k shares
IMC-Chicago, LLC New $361.1k7.8k shares
CITADEL ADVISORS LLC Reduced $305.6k6.6k shares
Belvedere Trading LLC Added $222.2k4.8k shares
SIMPLEX TRADING, LLC Added $13.9k300 shares

Biggest puts

CITADEL ADVISORS LLC Added $1.7m36.8k shares
GROUP ONE TRADING LLC Added $1.4m30.0k shares
Belvedere Trading LLC Reduced $222.2k4.8k 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.

HolderStakeChangeShares Last filed
Lingotto Investment Management LLP 13G · passive investor -1.6 pts · filed 2026-08-10 7.1% -1.6 pts 131.6m 2026-08-10
SHAH CAPITAL MANAGEMENT 13G · passive investor no change · filed 2026-10-16 6.7% no change 4.6m 2026-10-16

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 Lingotto Investment Management LLP 5.55% of their portfolio London, X0 6,042,0616.0m $279.7m $279.7m 5.55% Reduced -18.8k -18,791
2 SHAH CAPITAL MANAGEMENT 43.44% of their portfolio RALEIGH, NC 4,890,4974.9m $226.4m $226.4m 43.44% Reduced -4.8k -4,755
3 WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio Boston, MA 954,526954.5k $44.2m $44.2m 0.01% Reduced -22.9k -22,874
4 Solus Alternative Asset Management LP 11.04% of their portfolio Summit, NJ 887,002887.0k $41.1m $41.1m 11.04% Unchanged
5 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 768,121768.1k $35.6m $35.6m 0.00% Added +111.7k +111,685
6 Panview Capital Ltd 5.53% of their portfolio HONG KONG, K3 557,612557.6k $25.8m $25.8m 5.53% Added +42.7k +42,685
7 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.03% of their portfolio Paris, I0 501,439501.4k $23.2m $23.2m 0.03% Unchanged
8 VR Advisory Services Ltd 2.16% of their portfolio CAMANA BAY, GRAND CAYMAN, E9 393,647393.6k $18.2m $18.2m 2.16% Added +293.5k +293,481
9 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 224,406224.4k $10.4m $10.4m 0.01% Added +9.6k +9,561
10 Pictet Asset Management Holding SA 0.01% of their portfolio CAROUGE, V8 161,687161.7k $7.5m $7.5m 0.01% Reduced -64.0k -63,956
11 MACKENZIE FINANCIAL CORP 0.01% of their portfolio TORONTO ONTARIO, A6 150,442150.4k $7.0m $7.0m 0.01% Added +13.5k +13,546
12 GABELLI FUNDS LLC 0.04% of their portfolio Rye, NY 125,840125.8k $5.8m $5.8m 0.04% Reduced -2.0k -2,000
13 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 111,638111.6k $5.2m $5.2m 0.01% Added +46 +46
14 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 106,977107.0k $5.0m $5.0m 0.00% Added +29.2k +29,186
15 Walleye Capital LLC 0.03% of their portfolio NEW YORK, NY 90,48690.5k $4.2m $4.2m 0.03% Reduced -1.6k -1,598
16 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 69,75469.8k $3.2m $3.2m 0.00% Added +1.9k +1,923
17 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 68,00868.0k $3.1m $3.1m 0.00% Unchanged
18 Cygnus Capital Advisors, LLC 1.23% of their portfolio ATLANTA, GA 38,88038.9k $1.8m $1.8m 1.23% Reduced -4.0k -4,000
19 RWC Asset Management LLP 0.07% of their portfolio LONDON, X0 38,04038.0k $1.8m $1.8m 0.07% Unchanged
20 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 37,18237.2k $1.7m $1.7m 0.00% Reduced -16.3k -16,254
21 Dorsey Wright & Associates 0.20% of their portfolio PASADENA, CA 35,45735.5k $1.6m $1.6m 0.20% Added +11.1k +11,129
22 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 35,37835.4k $1.6m $1.6m 0.00% Reduced -108 -108
23 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 35,28035.3k $1.6m $1.6m 0.00% Unchanged
24 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 33,00033.0k $1.5m $1.5m 0.00% Unchanged
25 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 32,79332.8k $1.5m $1.5m 0.00% Reduced -49.4k -49,353
26 Point72 Asset Management, L.P. 0.00% of their portfolio STAMFORD, CT 30,88530.9k $1.4m $1.4m 0.00% Reduced -6.4k -6,433
27 DIVERSIFY WEALTH MANAGEMENT, LLC 0.03% of their portfolio SANDY, UT 30,49730.5k $1.5m $1.5m 0.03% Added +9.2k +9,168
28 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 29,95830.0k $1.4m $1.4m 0.00% Added +2.6k +2,597
29 NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.00% of their portfolio PHILADELPHIA, PA 29,29029.3k $1.4m $1.4m 0.00% Unchanged
30 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 27,83927.8k $1.3m $1.3m 0.00% Reduced -108.9k -108,862
31 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 26,20226.2k $1.2m $1.2m 0.00% Reduced -2.3k -2,293
32 Schonfeld Strategic Advisors LLC 0.01% of their portfolio NEW YORK, NY 20,71520.7k $959.1k $959.1k 0.01% Reduced -9.9k -9,878
33 QRG CAPITAL MANAGEMENT, INC. 0.01% of their portfolio BERWYN, PA 17,55717.6k $812.9k $812.9k 0.01% Added +4.1k +4,073
34 UBS Group AG 0.00% of their portfolio ZURICH, V8 17,21717.2k $797.1k $797.1k 0.00% Added +7.6k +7,582
35 AdvisorShares Investments LLC 0.14% of their portfolio BETHESDA, MD 16,96217.0k $785.3k $785.3k 0.14% Reduced -925 -925
36 Hennion & Walsh Asset Management, Inc. 0.03% of their portfolio Parsippany, NJ 16,20316.2k $750.2k $750.2k 0.03% Added +4.4k +4,438
37 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 14,40514.4k $667.0k $667.0k 0.00% Added +2.2k +2,191
38 LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.04% of their portfolio Englewood, NJ 14,11214.1k $653.4k $653.4k 0.04% New
39 GAMCO INVESTORS, INC. ET AL 0.01% of their portfolio GREENWICH, CT 13,64013.6k $631.5k $631.5k 0.01% Reduced -1.5k -1,500
40 BlackRock, Inc. 0.00% of their portfolio New York, NY 13,29413.3k $615.5k $615.5k 0.00% Added +973 +973
41 Voleon Capital Management LP 0.01% of their portfolio BERKELEY, CA 12,65012.7k $585.7k $585.7k 0.01% Reduced -6.7k -6,710
42 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 12,00012.0k $555.6k $555.6k 0.00% Reduced -30.0k -30,000
43 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 11,60611.6k $537.4k $537.4k 0.00% Added +161 +161
44 Centiva Capital, LP 0.02% of their portfolio New York, NY 10,71510.7k $496.1k $496.1k 0.02% Added +6.2k +6,212
45 SBI Securities Co., Ltd. 0.01% of their portfolio TOKYO, M0 9,7829.8k $452.9k $452.9k 0.01% Reduced -11.7k -11,660
46 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 8,4158.4k $389.6k $389.6k 0.00% Reduced -440 -440
47 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 7,5977.6k $351.7k $351.7k 0.00% Added +3.0k +2,967
48 Burns Matteson Capital Management, LLC 0.13% of their portfolio CORNING, NY 7,0807.1k $327.8k $327.8k 0.13% Added +3.1k +3,066
49 Handelsbanken Fonder AB 0.00% of their portfolio STOCKHOLM, V7 6,9006.9k $319.0k $319.0k 0.00% Unchanged
50 Atria Investments, Inc 0.00% of their portfolio Charlotte, NC 6,7516.8k $312.6k $312.6k 0.00% Added +714 +714
51 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 6,7236.7k $311.3k $311.3k 0.00% Reduced -10.3k -10,305
52 Trexquant Investment LP 0.00% of their portfolio STAMFORD, CT 6,1486.1k $284.7k $284.7k 0.00% New
53 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 5,8955.9k $272.9k $272.9k 0.00% Added +288 +288
54 Engineers Gate Manager LP 0.00% of their portfolio NEW YORK, NY 5,8605.9k $271.3k $271.3k 0.00% New
55 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 5,5515.6k $257.0k $257.0k 0.00% Reduced -122 -122
56 Mariner, LLC 0.00% of their portfolio Overland Park, KS 4,7074.7k $217.9k $217.9k 0.00% New
57 PERSONAL CFO SOLUTIONS, LLC 0.03% of their portfolio CHESTER, NJ 4,6894.7k $217.1k $217.1k 0.03% Added +592 +592
58 CWM, LLC 0.00% of their portfolio OMAHA, NE 3,9974.0k $185.1k $185.1k 0.00% Reduced -160 -160
59 GAMMA Investing LLC 0.01% of their portfolio FOSTER CITY, CA 3,3873.4k $156.8k $156.8k 0.01% Reduced -112 -112
60 Aquatic Capital Management LLC 0.00% of their portfolio CHICAGO, IL 1,5561.6k $72.0k $72.0k 0.00% Reduced -4.0k -3,988
61 Belvedere Trading LLC 0.01% of their portfolio CHICAGO, IL 1,2741.3k $59.0k $59.0k 0.01% Added +725 +725
62 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,2291.2k $57.0k $57.0k 0.00% Reduced -1.2k -1,202
63 Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio SEOUL, M5 720720 $33.3k $33.3k 0.00% Reduced -720 -720
64 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 617617 $28.6k $28.6k 0.00% Added +126 +126
65 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.00% of their portfolio TORONTO, A6 573573 $26.5k $26.5k 0.00% Reduced -54.4k -54,427
66 GROUP ONE TRADING LLC 0.00% of their portfolio CHICAGO, IL 374374 $17.3k $17.3k 0.00% Reduced -4.4k -4,394
67 Union Bancaire Privee, UBP SA 0.00% of their portfolio GENEVA 1, V8 319319 $11.4k $11.4k 0.00% Unchanged
68 TOTH FINANCIAL ADVISORY CORP 0.00% of their portfolio LEESBURG, VA 300300 $13.9k $13.9k 0.00% Unchanged
69 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 194194 $9.0k $9.0k 0.00% Added +21 +21
70 Ascentis Wealth Management, LLC 0.00% of their portfolio DALLAS, TX 160160 $7.4k $7.4k 0.00% Added +80 +80
71 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 145145 $6.7k $6.7k 0.00% Unchanged
72 PENSION & WEALTH MANAGEMENT ADVISORS, INC. 0.00% of their portfolio WALTHAM, MA 125125 $5.8k $5.8k 0.00% Reduced -125 -125
73 Investors Research Corp 0.00% of their portfolio ATLANTA, GA 100100 $4.6k $4.6k 0.00% Unchanged
74 Larson Financial Group LLC 0.00% of their portfolio ST LOUIS, MO 100100 $4.6k $4.6k 0.00% Added +32 +32
75 BNP PARIBAS 0.00% of their portfolio NEW YORK, NY 100100 $4.6k $4.6k 0.00% Unchanged
76 Parallel Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 9999 $4.6k $4.6k 0.00% New
77 Advisory Services Network, LLC 0.00% of their portfolio ATLANTA, GA 8080 $3.7k $3.7k 0.00% New
78 TD Waterhouse Canada Inc. 0.00% of their portfolio TORONTO, A6 8080 $3.7k $3.7k 0.00% Unchanged
79 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 7979 $3.7k $3.7k 0.00% Added +78 +78
80 BESSEMER GROUP INC 0.00% of their portfolio WOODBRIDGE, NJ 7474 $3.0k $3.0k 0.00% Added +57 +57
81 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 6767 $3.1k $3.1k 0.00% Added +9 +9
82 Cranbrook Wealth Management, LLC 0.00% of their portfolio Bloomfield Hills, MI 5555 $2.5k $2.5k 0.00% Unchanged
83 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 5454 $2.6k $2.6k 0.00% Added +33 +33
84 TD PRIVATE CLIENT WEALTH LLC 0.00% of their portfolio NEW YORK, NY 4444 $2.0k $2.0k 0.00% Added +37 +37
85 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 2525 $1.2k $1.2k 0.00% Reduced -35 -35
86 MANNING & NAPIER ADVISORS LLC 0.00% of their portfolio Fairport, NY 2424 $1.1k $1.1k 0.00% Added +1 +1
87 Retirement Wealth Solutions LLC 0.00% of their portfolio MARSHFIELD, WI 2424 $1.1k $1.1k 0.00% Added +17 +17
88 Arax Advisory Partners 0.00% of their portfolio NEW YORK, NY 2121 $972 $972 0.00% Reduced -239 -239
89 Signature Equity Partners, LLC 0.00% of their portfolio COLUMBUS, OH 2020 $926 $926 0.00% Added +2 +2
90 IMA Advisory Services, Inc. 0.00% of their portfolio DENVER, CO 1313 $601 $601 0.00% Unchanged
91 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1212 $556 $556 0.00% Unchanged
92 FMR LLC 0.00% of their portfolio BOSTON, MA 1212 $556 $556 0.00% Unchanged
93 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 1010 $463 $463 0.00% New
94 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 99 $417 $417 0.00% Added +1 +1
95 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 88 $370 $370 0.00% New
96 Smartleaf Asset Management LLC 0.00% of their portfolio BOSTON, MA 77 $313 $313 0.00% Unchanged
97 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 55 $232 $232 0.00% Reduced -3 -3
98 Tidemark, LLC 0.00% of their portfolio SAN DIEGO, CA 33 $139 $139 0.00% Unchanged
99 DANSKE BANK A/S 0.00% of their portfolio COPENHAGEN V, G7 22 $93 $93 0.00% Unchanged
100 Stone House Investment Management, LLC 0.00% of their portfolio TUNKHANNOCK, PA 22 $93 $93 0.00% New