VEON LTD VEON
SPONSORED ADS · ADR · CUSIP 91822M502
Holding company founded in 2009 and headquartered in Dubai
* 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. Holder counts are more reliable. Implied quarter-end price ≈ $52.21. Options: 5 managers hold calls ($1.3m notional), 3 hold puts ($1.2m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q1 2023 | 38 |
| Q2 2023 | 39 |
| Q3 2023 | 37 |
| Q4 2023 | 37 |
| Q1 2024 | 43 |
| Q2 2024 | 41 |
| Q3 2024 | 50 |
| Q4 2024 | 64 |
| Q1 2025 | 68 |
| Q2 2025 | 72 |
| Q3 2025 | 90 |
| Q4 2025 | 115 |
| Q1 2026 | 101 |
| Q2 2026 | 110 |
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 2024 | 24 | 7 |
| Q4 2024 | 33 | 11 |
| Q1 2025 | 29 | 23 |
| Q2 2025 | 34 | 26 |
| Q3 2025 | 53 | 30 |
| Q4 2025 | 60 | 43 |
| Q1 2026 | 46 | 57 |
| Q2 2026 | 55 | 38 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $1.7m | $1.7m | 0.99 |
| Q4 2025 | $2.2m | $2.4m | 1.11 |
| Q1 2026 | $2.5m | $3.3m | 1.35 |
| Q2 2026 | $1.3m | $1.2m | 0.93 |
Biggest buyers
| VR Advisory Services Ltd | Added | +207.6k |
| MACKENZIE FINANCIAL CORP | Added | +123.2k |
| Pictet Asset Management Holding SA | Added | +122.5k |
| JPMORGAN CHASE & CO | Added | +80.1k |
| Panview Capital Ltd | Added | +73.0k |
| JGP Global Gestao de Recursos Ltda. | New | +66.8k |
| Diversify Advisory Services, LLC | New | +32.0k |
| RWC Asset Management LLP | Added | +30.2k |
| Hudson Bay Capital Management LP | New | +29.4k |
| PRELUDE CAPITAL MANAGEMENT, LLC | New | +26.3k |
Biggest sellers
| Lingotto Investment Management LLP | Reduced | -776.9k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | Reduced | -471.3k |
| SHAH CAPITAL MANAGEMENT | Reduced | -222.9k |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -175.4k |
| Walleye Capital LLC | Sold out | -90.5k |
| BANK OF AMERICA CORP /DE/ | Reduced | -54.3k |
| TWO SIGMA INVESTMENTS, LP | Reduced | -30.5k |
| CITADEL ADVISORS LLC | Reduced | -26.4k |
| MORGAN STANLEY | Reduced | -20.3k |
| Schonfeld Strategic Advisors LLC | Reduced | -15.0k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $449.0k8.6k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $422.9k8.1k shares |
| IMC-Chicago, LLC | Reduced | $229.7k4.4k shares |
| GROUP ONE TRADING LLC | Reduced | $99.2k1.9k shares |
| SIMPLEX TRADING, LLC | Added | $88.8k1.7k shares |
Biggest puts
| CITADEL ADVISORS LLC | Reduced | $945.0k18.1k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $245.4k4.7k shares |
| GROUP ONE TRADING LLC | Reduced | $10.4k200 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 |
|---|---|
| Lingotto Investment Management LLP 13G · passive investor -1.6 pts · filed 2026-08-10 | 7.1% |
| SHAH CAPITAL MANAGEMENT 13G · passive investor no change · filed 2026-10-16 | 6.7% |
Insider purchases and sales since 1 Apr 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.
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 |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 0 | — | 0 | — | — |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 1 | $1.1m | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-08-07 | Fabela Augie K II Director · By Trust · American Depositary Shares | Bought | $280.1k5.0k shares |
| 2026-08-06 | Fabela Augie K II Director · By Trust · American Depositary Shares | Bought | $839.9k15.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| Lingotto Investment Management LLP 5.92% of their portfolio | 5.3m $274.9m | Reduced -776.9k |
| SHAH CAPITAL MANAGEMENT 46.31% of their portfolio | 4.7m $243.7m | Reduced -222.9k |
| Solus Alternative Asset Management LP 13.53% of their portfolio | 887.0k $46.3m | Unchanged |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 779.1k $40.7m | Reduced -175.4k |
| MORGAN STANLEY 0.00% of their portfolio | 747.9k $39.0m | Reduced -20.3k |
| Panview Capital Ltd 5.80% of their portfolio | 630.6k $32.9m | Added +73.0k |
| VR Advisory Services Ltd 2.78% of their portfolio | 601.2k $31.4m | Added +207.6k |
| Pictet Asset Management Holding SA 0.01% of their portfolio | 284.1k $14.8m | Added +122.5k |
| MACKENZIE FINANCIAL CORP 0.01% of their portfolio | 273.6k $14.3m | Added +123.2k |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 193.9k $10.1m | Reduced -30.5k |
| GABELLI FUNDS LLC 0.04% of their portfolio | 125.8k $6.6m | Unchanged |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 112.9k $5.9m | Added +80.1k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 111.9k $5.8m | Added +238 |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 80.6k $4.2m | Reduced -26.4k |
| RWC Asset Management LLP 0.13% of their portfolio | 68.2k $3.6m | Added +30.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 68.0k $3.6m | Unchanged |
| JGP Global Gestao de Recursos Ltda. 7.78% of their portfolio | 66.8k $3.5m | New |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 35.9k $1.9m | Added +500 |
| MARSHALL WACE, LLP 0.00% of their portfolio | 35.3k $1.8m | Unchanged |
| NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio | 33.0k $1.7m | Unchanged |
| Diversify Advisory Services, LLC 0.03% of their portfolio | 32.0k $1.7m | New |
| DIVERSIFY WEALTH MANAGEMENT, LLC 0.03% of their portfolio | 32.0k $1.7m | Added +1.5k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 30.4k $1.6m | Added +4.2k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.00% of their portfolio | 30.2k $1.6m | Reduced -471.3k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 29.6k $1.5m | Reduced -7.6k |
| Hennion & Walsh Asset Management, Inc. 0.04% of their portfolio | 29.5k $1.5m | Added +13.3k |
| Hudson Bay Capital Management LP 0.01% of their portfolio | 29.4k $1.5m | New |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.00% of their portfolio | 29.3k $1.5m | Unchanged |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 29.1k $1.5m | Added +1.3k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 28.9k $1.5m | Reduced -1.1k |
| Point72 Asset Management, L.P. 0.00% of their portfolio | 26.7k $1.4m | Reduced -4.2k |
| PRELUDE CAPITAL MANAGEMENT, LLC 0.10% of their portfolio | 26.3k $1.4m | New |
| Dorsey Wright & Associates 0.22% of their portfolio | 25.4k $1.3m | Reduced -10.1k |
| Vontobel Holding Ltd. 0.00% of their portfolio | 23.5k $1.2m | New |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 21.3k $1.1m | New |
| QRG CAPITAL MANAGEMENT, INC. 0.01% of their portfolio | 19.4k $1.0m | Added +1.9k |
| HRT FINANCIAL LP 0.00% of their portfolio | 19.2k $1.0m | New |
| UBS Group AG 0.00% of their portfolio | 17.6k $920.8k | Added +419 |
| AdvisorShares Investments LLC 0.10% of their portfolio | 16.0k $833.2k | Reduced -1.0k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 15.4k $804.3k | Reduced -54.3k |
| BlackRock, Inc. 0.00% of their portfolio | 14.0k $731.7k | Added +720 |
| GAMCO INVESTORS, INC. ET AL 0.01% of their portfolio | 13.6k $712.1k | Unchanged |
| STIFEL FINANCIAL CORP 0.00% of their portfolio | 13.2k $691.3k | Reduced -1.2k |
| SBI Securities Co., Ltd. 0.01% of their portfolio | 12.1k $630.4k | Added +2.3k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 12.0k $626.5k | Unchanged |
| K2 PRINCIPAL FUND, L.P. 0.05% of their portfolio | 10.7k $556.3k | New |
| LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio | 10.5k $547.7k | Added +2.9k |
| Trexquant Investment LP 0.00% of their portfolio | 9.4k $488.6k | Added +3.2k |
| MML INVESTORS SERVICES, LLC 0.00% of their portfolio | 8.9k $463.6k | Added +2.2k |
| CenterBook Partners LP 0.02% of their portfolio | 7.9k $412.6k | New |
| Jump Financial, LLC 0.00% of their portfolio | 7.5k $391.6k | New |
| Handelsbanken Fonder AB 0.00% of their portfolio | 7.4k $386.0k | Added +500 |
| Burns Matteson Capital Management, LLC 0.12% of their portfolio | 7.2k $376.1k | Added +124 |
| GSA CAPITAL PARTNERS LLP 0.02% of their portfolio | 7.1k $370.0k | New |
| Centiva Capital, LP 0.01% of their portfolio | 6.4k $334.2k | Reduced -4.3k |
| Atria Investments, Inc 0.00% of their portfolio | 6.3k $328.7k | Reduced -455 |
| Voleon Capital Management LP 0.01% of their portfolio | 6.1k $319.6k | Reduced -6.5k |
| R Squared Ltd 0.16% of their portfolio | 6.0k $311.0k | New |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 5.9k $308.2k | New |
| Schonfeld Strategic Advisors LLC 0.00% of their portfolio | 5.7k $297.3k | Reduced -15.0k |
| Squarepoint Ops LLC 0.00% of their portfolio | 5.6k $291.5k | Reduced -6.0k |
| Cetera Investment Advisers 0.00% of their portfolio | 5.0k $260.6k | Reduced -560 |
| Janney Montgomery Scott LLC 0.00% of their portfolio | 4.4k $231.0k | New |
| PERSONAL CFO SOLUTIONS, LLC 0.03% of their portfolio | 4.4k $230.0k | Reduced -284 |
| Integrated Wealth Concepts LLC 0.00% of their portfolio | 3.3k $169.7k | New |
| GAMMA Investing LLC 0.01% of their portfolio | 3.2k $169.0k | Reduced -151 |
| SG Americas Securities, LLC 0.00% of their portfolio | 2.1k $110.0k | New |
| CITIGROUP INC 0.00% of their portfolio | 1.8k $96.4k | Added +1.8k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 749 $39.0k | Reduced -480 |
| Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio | 720 $37.6k | Unchanged |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 617 $32.2k | Unchanged |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.00% of their portfolio | 573 $29.9k | Unchanged |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 509 $26.6k | Reduced -7.9k |
| TOTH FINANCIAL ADVISORY CORP 0.00% of their portfolio | 300 $15.7k | Unchanged |
| PENSION & WEALTH MANAGEMENT ADVISORS, INC. 0.00% of their portfolio | 222 $11.6k | Added +97 |
| Parallel Advisors, LLC 0.00% of their portfolio | 168 $8.8k | Added +69 |
| Ascentis Wealth Management, LLC 0.00% of their portfolio | 160 $8.4k | Unchanged |
| Larson Financial Group LLC 0.00% of their portfolio | 154 $8.0k | Added +54 |
| EverSource Wealth Advisors, LLC 0.00% of their portfolio | 150 $7.8k | Reduced -44 |
| IFP Advisors, Inc 0.00% of their portfolio | 135 $7.0k | Reduced -10 |
| Investors Research Corp 0.00% of their portfolio | 100 $5.2k | Unchanged |
| BNP PARIBAS 0.00% of their portfolio | 100 $5.2k | Unchanged |
| Ameritas Advisory Services, LLC 0.00% of their portfolio | 88 $4.6k | New |
| PNC Financial Services Group, Inc. 0.00% of their portfolio | 86 $4.5k | Added +19 |
| TD Waterhouse Canada Inc. 0.00% of their portfolio | 80 $4.2k | Unchanged |
| BESSEMER GROUP INC 0.00% of their portfolio | 74 $4.0k | Unchanged |
| Farther Finance Advisors, LLC 0.00% of their portfolio | 59 $3.1k | Added +5 |
| Cranbrook Wealth Management, LLC 0.00% of their portfolio | 55 $2.9k | Unchanged |
| Silver Grove Financial Group, Inc. 0.00% of their portfolio | 45 $2.3k | New |
| TD PRIVATE CLIENT WEALTH LLC 0.00% of their portfolio | 43 $2.2k | Reduced -1 |
| Global Retirement Partners, LLC 0.00% of their portfolio | 37 $1.9k | First filing |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 36 $1.9k | Added +24 |
| JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio | 36 $1.9k | Added +11 |
| Retirement Wealth Solutions LLC 0.00% of their portfolio | 29 $1.5k | Added +5 |
| MANNING & NAPIER ADVISORS LLC 0.00% of their portfolio | 25 $1.3k | Added +1 |
| Signature Equity Partners, LLC 0.00% of their portfolio | 25 $1.3k | Added +5 |
| Arax Advisory Partners 0.00% of their portfolio | 21 $1.1k | Unchanged |
| IMA Advisory Services, Inc. 0.00% of their portfolio | 20 $1.0k | Added +7 |
| FMR LLC 0.00% of their portfolio | 12 $627 | Unchanged |
| HARBOUR INVESTMENTS, INC. 0.00% of their portfolio | 10 $522 | Unchanged |