WILLIS TOWERS WATSON PLC LTD WTW
SHS · Common Stock · CUSIP G96629103
Global insurance 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 ($198.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $262.16. Options: 14 managers hold calls ($86.5m notional), 13 hold puts ($41.9m).
Trends to Q2 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 565 |
| Q4 2022 | 596 |
| Q1 2023 | 607 |
| Q2 2023 | 581 |
| Q3 2023 | 560 |
| Q4 2023 | 631 |
| Q1 2024 | 663 |
| Q2 2024 | 652 |
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 2022 | 249 | 267 |
| Q1 2023 | 254 | 302 |
| Q2 2023 | 214 | 311 |
| Q3 2023 | 228 | 315 |
| Q4 2023 | 293 | 271 |
| Q1 2024 | 305 | 287 |
| Q2 2024 | 332 | 270 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2023 | $110.3m | $46.3m | 0.42 |
| Q4 2023 | $130.4m | $57.7m | 0.44 |
| Q1 2024 | $91.6m | $52.5m | 0.57 |
| Q2 2024 | $86.5m | $41.9m | 0.48 |
Biggest buyers
| Bank of New York Mellon Corp | Added | +261.6k |
| GOLDMAN SACHS GROUP INC | Added | +253.6k |
| ACADIAN ASSET MANAGEMENT LLC | Added | +221.1k |
| FMR LLC | Added | +220.5k |
| CITADEL ADVISORS LLC | Added | +196.3k |
| NORGES BANK | Added | +187.8k |
| AMERICAN CENTURY COMPANIES INC | Added | +185.1k |
| FIRST TRUST ADVISORS LP | Added | +183.4k |
| Balyasny Asset Management L.P. | Added | +172.6k |
| Point72 Asset Management, L.P. | Added | +162.7k |
Biggest sellers
| MORGAN STANLEY | Reduced | -1.7m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -988.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -339.4k |
| Alyeska Investment Group, L.P. | Reduced | -202.8k |
| Clarkston Capital Partners, LLC | Reduced | -162.9k |
| Mawer Investment Management Ltd. | Sold out | -148.2k |
| Qube Research & Technologies Ltd | Sold out | -125.4k |
| Nuveen Asset Management, LLC | Reduced | -124.5k |
| Sahana Capital Management LP | Reduced | -118.5k |
| VIKING GLOBAL INVESTORS LP | Sold out | -112.3k |
Biggest calls
| Balyasny Asset Management L.P. | New | $35.4m135.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $20.8m79.5k shares |
| CITADEL ADVISORS LLC | Reduced | $13.5m51.5k shares |
| GROUP ONE TRADING LLC | Added | $6.4m24.5k shares |
| SIMPLEX TRADING, LLC | Added | $3.5m13.5k shares |
| JANE STREET GROUP, LLC | Reduced | $2.5m9.5k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $1.8m6.7k shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | Reduced | $707.8k2.7k shares |
| BOOTHBAY FUND MANAGEMENT, LLC | New | $629.1k2.4k shares |
| WOLVERINE TRADING, LLC | Reduced | $550.5k2.1k shares |
Biggest puts
| JANE STREET GROUP, LLC | New | $14.7m56.0k shares |
| CITADEL ADVISORS LLC | Reduced | $6.8m25.8k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $5.6m21.3k shares |
| WOLVERINE TRADING, LLC | Added | $3.6m13.6k shares |
| Walleye Capital LLC | Added | $3.4m13.0k shares |
| UBS Group AG | New | $2.8m10.7k shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | Added | $1.5m5.9k shares |
| Walleye Trading LLC | Reduced | $1.2m4.5k shares |
| SpiderRock Advisors, LLC | New | $1.0m4.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $1.0m3.9k 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 |
|---|---|
| DODGE & COX 13G · institution +1.3 pts · filed 2026-08-13 | 8.5% |
| BlackRock, Inc. 13G · institution filed 2025-04-23 | 7.6% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-28 | 7.5% |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 13G · institution filed 2025-02-13 | 6.4% |
| Artisan Partners Limited Partnership 13G · institution new · filed 2026-08-13 | 5.9% |
| HARRIS ASSOCIATES L P 13G · institution new · filed 2026-02-17 | 5.9% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q2 2024
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 |
|---|---|---|---|---|---|
| Q3 2022 | 0 | — | 3 | $11.1m | — |
| Q4 2022 | 0 | — | 4 | $5.6m | — |
| Q1 2023 | 0 | — | 2 | $2.6m | — |
| Q2 2023 | 0 | — | 2 | $2.8m | — |
| Q3 2023 | 0 | — | 1 | $463.4k | — |
| Q4 2023 | 0 | — | 1 | $78.8k | — |
| Q1 2024 | 0 | — | 3 | $3.1m | — |
| Q2 2024 | 0 | — | 0 | — | — |
None reported in Q2 2024.
Holders, Q2 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.06% of their portfolio | 11.4m $3.0bn | Reduced -34.4k |
| BlackRock Inc. 0.06% of their portfolio | 10.0m $2.6bn | Reduced -108.8k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.66% of their portfolio | 8.2m $2.2bn | Reduced -988.8k |
| First Eagle Investment Management, LLC 3.19% of their portfolio | 5.4m $1.4bn | Reduced -74.5k |
| STATE STREET CORP 0.05% of their portfolio | 4.3m $1.1bn | Added +488 |
| HARRIS ASSOCIATES L P 1.73% of their portfolio | 3.9m $1.0bn | Reduced -84.6k |
| Artisan Partners Limited Partnership 1.40% of their portfolio | 3.5m $921.0m | Reduced -53.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.06% of their portfolio | 2.6m $682.5m | Added +43.9k |
| FMR LLC 0.04% of their portfolio | 2.4m $620.8m | Added +220.5k |
| VICTORY CAPITAL MANAGEMENT INC 0.52% of their portfolio | 2.0m $522.0m | Added +98.9k |
| Invesco Ltd. 0.11% of their portfolio | 2.0m $517.8m | Added +22.6k |
| Bank of New York Mellon Corp 0.09% of their portfolio | 1.7m $453.1m | Added +261.6k |
| BAUPOST GROUP LLC/MA 11.92% of their portfolio | 1.7m $433.2m | Added +97.0k |
| NORGES BANK 0.06% of their portfolio | 1.5m $384.0m | Added +187.8k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 1.00% of their portfolio | 1.1m $294.2m | Added +39.3k |
| NORTHERN TRUST CORP 0.05% of their portfolio | 1.1m $292.4m | Added +8.4k |
| Burgundy Asset Management Ltd. 2.86% of their portfolio | 1.0m $271.5m | Added +1.1k |
| AMERICAN CENTURY COMPANIES INC 0.16% of their portfolio | 1.0m $263.9m | Added +185.1k |
| MORGAN STANLEY 0.02% of their portfolio | 822.4k $215.6m | Reduced -1.7m |
| Southpoint Capital Advisors LP 5.22% of their portfolio | 800.0k $209.7m | Unchanged |
| DIMENSIONAL FUND ADVISORS LP 0.05% of their portfolio | 737.5k $193.3m | Added +80.5k |
| ABRAMS CAPITAL MANAGEMENT, L.P. 3.69% of their portfolio | 720.8k $188.9m | Unchanged |
| Legal & General Group Plc 0.05% of their portfolio | 703.0k $184.3m | Added +3.1k |
| Nuveen Asset Management, LLC 0.05% of their portfolio | 677.3k $177.7m | Reduced -124.5k |
| ALLIANCEBERNSTEIN L.P. 0.06% of their portfolio | 662.4k $173.7m | Reduced -45.1k |
| ACADIAN ASSET MANAGEMENT LLC 0.52% of their portfolio | 638.5k $167.4m | Added +221.1k |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 609.8k $159.8m | Added +253.6k |
| BRANDES INVESTMENT PARTNERS, LP 1.93% of their portfolio | 598.6k $157.0m | Added +56.5k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 590.7k $154.9m | Added +11.8k |
| Balyasny Asset Management L.P. 0.40% of their portfolio | 590.6k $154.8m | Added +172.6k |
| ALTRINSIC GLOBAL ADVISORS LLC 6.73% of their portfolio | 575.4k $150.8m | Reduced -64.6k |
| Clarkston Capital Partners, LLC 2.66% of their portfolio | 531.3k $139.3m | Reduced -162.9k |
| Amundi 0.05% of their portfolio | 518.6k $135.0m | Added +52.4k |
| Prana Capital Management, LP 6.11% of their portfolio | 490.0k $128.4m | Added +100.6k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.24% of their portfolio | 488.1k $127.9m | Added +47.5k |
| CITADEL ADVISORS LLC 0.12% of their portfolio | 474.0k $124.3m | Added +196.3k |
| California Public Employees Retirement System 0.09% of their portfolio | 452.1k $118.5m | Reduced -85.4k |
| Capital Research Global Investors 0.02% of their portfolio | 425.1k $111.4m | Added +246 |
| Sahana Capital Management LP 17.11% of their portfolio | 420.7k $110.3m | Reduced -118.5k |
| MILLENNIUM MANAGEMENT LLC 0.09% of their portfolio | 400.1k $104.9m | Added +225 |
| Ceredex Value Advisors LLC 1.91% of their portfolio | 384.1k $101.0m | Added +37.6k |
| Sound Shore Management Inc /CT/ 3.10% of their portfolio | 354.5k $92.9m | Added +58.1k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 347.1k $91.0m | Added +5.8k |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 339.1k $88.9m | Added +62.8k |
| Atalan Capital Partners, LP 8.06% of their portfolio | 330.0k $86.5m | Reduced -45.0k |
| Brandywine Global Investment Management, LLC 0.64% of their portfolio | 327.9k $85.9m | Added +14.2k |
| Swiss National Bank 0.05% of their portfolio | 303.4k $79.5m | Reduced -5.9k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 299.9k $78.6m | Reduced -43.3k |
| BARCLAYS PLC 0.04% of their portfolio | 298.9k $78.3m | Reduced -6.4k |
| JOHNSON INVESTMENT COUNSEL INC 0.76% of their portfolio | 276.8k $72.6m | Reduced -1.7k |
| DEUTSCHE BANK AG\ 0.03% of their portfolio | 275.4k $72.2m | Added +18.2k |
| Russell Investments Group, Ltd. 0.11% of their portfolio | 270.7k $71.0m | Added +23.6k |
| River Road Asset Management, LLC 1.01% of their portfolio | 268.7k $70.4m | Added +55.8k |
| UBS Group AG 0.02% of their portfolio | 264.0k $69.2m | Added +9.9k |
| CRAWFORD INVESTMENT COUNSEL INC 1.27% of their portfolio | 254.9k $66.8m | Added +4.5k |
| Sumitomo Mitsui Trust Group, Inc. 0.05% of their portfolio | 249.5k $65.4m | Reduced -24.8k |
| THOMPSON SIEGEL & WALMSLEY LLC 1.04% of their portfolio | 248.0k $65.0m | Added +19.4k |
| RENAISSANCE TECHNOLOGIES LLC 0.11% of their portfolio | 238.6k $62.6m | Reduced -12.7k |
| Rockefeller Capital Management L.P. 0.18% of their portfolio | 235.0k $61.6m | Reduced -5.0k |
| SEI INVESTMENTS CO 0.08% of their portfolio | 226.8k $59.5m | Added +13.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio | 223.5k $58.6m | Reduced -339.4k |
| BANK OF MONTREAL /CAN/ 0.02% of their portfolio | 222.8k $59.4m | Added +94.6k |
| Perpetual Ltd 0.60% of their portfolio | 210.6k $55.2m | Added +20.1k |
| Sunriver Management LLC 6.98% of their portfolio | 210.2k $55.1m | Added +65.8k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 205.4k $53.9m | Added +50.5k |
| Point72 Asset Management, L.P. 0.17% of their portfolio | 198.4k $52.0m | Added +162.7k |
| CORTLAND ASSOCIATES INC/MO 6.55% of their portfolio | 197.6k $51.8m | Reduced -1.6k |
| FIRST TRUST ADVISORS LP 0.05% of their portfolio | 195.2k $51.2m | Added +183.4k |
| HSBC HOLDINGS PLC 0.03% of their portfolio | 190.1k $50.0m | Added +117.4k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 189.5k $49.7m | Reduced -50.8k |
| Man Group plc 0.13% of their portfolio | 187.6k $49.2m | Reduced -103.5k |
| RHUMBLINE ADVISERS 0.05% of their portfolio | 184.9k $48.5m | Reduced -3.8k |
| Clark Capital Management Group, Inc. 0.34% of their portfolio | 176.7k $46.3m | Added +3.6k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.05% of their portfolio | 169.2k $44.4m | Added +352 |
| National Pension Service 0.05% of their portfolio | 150.0k $39.3m | Added +2.5k |
| NATIXIS ADVISORS, LLC 0.08% of their portfolio | 144.2k $37.8m | Added +5.7k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.14% of their portfolio | 141.1k $37.0m | Added +37.3k |
| BNP PARIBAS FINANCIAL MARKETS 0.04% of their portfolio | 139.2k $36.5m | Reduced -57.8k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.04% of their portfolio | 138.2k $36.2m | Added +20.9k |
| RAYMOND JAMES & ASSOCIATES 0.02% of their portfolio | 122.2k $32.0m | Reduced -15.7k |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 120.0k $31.5m | Reduced -5.6k |
| NEW SOUTH CAPITAL MANAGEMENT INC 1.38% of their portfolio | 118.0k $30.9m | Reduced -2.9k |
| CANADA LIFE ASSURANCE Co 0.06% of their portfolio | 117.0k $30.7m | Added +1.8k |
| Bridgewater Associates, LP 0.15% of their portfolio | 109.1k $28.6m | Added +35.1k |
| Rivermont Capital Management LP 11.71% of their portfolio | 104.4k $27.4m | Added +2.9k |
| Schonfeld Strategic Advisors LLC 0.21% of their portfolio | 102.5k $26.9m | Reduced -65.8k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.05% of their portfolio | 101.4k $26.6m | Reduced -15.2k |
| Robeco Institutional Asset Management B.V. 0.06% of their portfolio | 99.1k $26.0m | Reduced -79.1k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 98.9k $25.9m | Reduced -27.9k |
| BAMCO INC /NY/ 0.07% of their portfolio | 95.1k $24.9m | Reduced -674 |
| Aryeh Capital Management Ltd. 14.99% of their portfolio | 89.1k $23.3m | Added +5.1k |
| BANK OF NOVA SCOTIA 0.05% of their portfolio | 89.0k $23.3m | Reduced -20.5k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.05% of their portfolio | 87.6k $23.0m | Reduced -6.6k |
| MARSHALL WACE, LLP 0.03% of their portfolio | 85.5k $22.4m | Added +68.9k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.04% of their portfolio | 84.8k $22.2m | Added +31.7k |
| DEROY & DEVEREAUX PRIVATE INVESTMENT COUNSEL INC 1.37% of their portfolio | 84.6k $22.2m | Added +347 |
| CITIGROUP INC 0.02% of their portfolio | 84.1k $22.0m | Added +12.2k |
| INTECH INVESTMENT MANAGEMENT LLC 0.27% of their portfolio | 81.4k $21.3m | Added +4.2k |
| AVIVA PLC 0.06% of their portfolio | 80.8k $21.2m | Added +15.4k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.05% of their portfolio | 80.7k $21.2m | Added +67.4k |