ALCON AG ALC
ORD SHS · Common Stock · CUSIP H01301128
* 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 ($14.5m this quarter). Holder counts are more reliable. Shares outstanding: 487.4m 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 ≈ $74.52. Options: 17 managers hold calls ($1.1bn notional), 25 hold puts ($552.3m).
Trends to Q3 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 561 |
| Q4 2022 | 587 |
| Q1 2023 | 592 |
| Q2 2023 | 598 |
| Q3 2023 | 601 |
| Q4 2023 | 613 |
| Q1 2024 | 617 |
| Q2 2024 | 634 |
| Q3 2024 | 659 |
| Q4 2024 | 661 |
| Q1 2025 | 662 |
| Q2 2025 | 655 |
| Q3 2025 | 639 |
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 | 239 | 264 |
| Q1 2024 | 265 | 264 |
| Q2 2024 | 272 | 266 |
| Q3 2024 | 272 | 289 |
| Q4 2024 | 250 | 300 |
| Q1 2025 | 266 | 294 |
| Q2 2025 | 265 | 297 |
| Q3 2025 | 275 | 313 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $163.9m | $212.9m | 1.30 |
| Q1 2025 | $205.1m | $339.6m | 1.66 |
| Q2 2025 | $1.0bn | $317.2m | 0.31 |
| Q3 2025 | $1.1bn | $552.3m | 0.51 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +3.5m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +3.3m |
| Troy Asset Management Ltd | New | +3.0m |
| FRANKLIN RESOURCES INC | Added | +2.9m |
| NorthCoast Asset Management LLC | Added | +1.4m |
| Clearbridge Investments, LLC | Added | +1.1m |
| SIH Partners, LLLP | Added | +830.3k |
| BANK OF AMERICA CORP /DE/ | Added | +780.7k |
| Ninety One North America, Inc. | New | +699.8k |
| Vestal Point Capital, LP | Added | +575.0k |
Biggest sellers
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -11.6m |
| ROYAL BANK OF CANADA | Reduced | -3.7m |
| FMR LLC | Reduced | -3.3m |
| MACKENZIE FINANCIAL CORP | Reduced | -3.2m |
| Vontobel Holding Ltd. | Reduced | -1.8m |
| JANUS HENDERSON GROUP PLC | Reduced | -1.6m |
| Harding Loevner LP | Reduced | -1.5m |
| BlackRock, Inc. | Reduced | -1.1m |
| T. Rowe Price Investment Management, Inc. | Reduced | -1.0m |
| Bank of New York Mellon Corp | Reduced | -951.9k |
Biggest calls
| UBS Group AG | Added | $959.0m12.9m shares |
| Twin Tree Management, LP | Added | $44.7m599.4k shares |
| SIH Partners, LLLP | Added | $34.4m461.3k shares |
| Vontobel Holding Ltd. | Added | $13.4m179.4k shares |
| GOLDMAN SACHS GROUP INC | Reduced | $8.9m120.0k shares |
| BANK OF AMERICA CORP /DE/ | Unchanged | $7.5m100.0k shares |
| CITIGROUP INC | New | $6.6m88.9k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $4.6m61.5k shares |
| CITADEL ADVISORS LLC | Added | $4.1m54.6k shares |
| Squarepoint Ops LLC | New | $1.5m19.5k shares |
Biggest puts
| SIH Partners, LLLP | Added | $322.9m4.3m shares |
| GOLDMAN SACHS GROUP INC | Added | $49.3m661.4k shares |
| Qube Research & Technologies Ltd | Added | $43.4m583.3k shares |
| JPMORGAN CHASE & CO | Added | $24.3m326.8k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $19.4m260.9k shares |
| Twin Tree Management, LP | Reduced | $14.5m195.0k shares |
| Optiver Holding B.V. | Added | $14.1m189.2k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $12.6m169.4k shares |
| Eisler Capital Management Ltd. | Unchanged | $11.1m150.0k shares |
| CREDIT INDUSTRIEL ET COMMERCIAL | Reduced | $9.3m125.0k 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 |
|---|---|
| BlackRock, Inc. 13G · institution filed 2025-04-23 | 5.9% |
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 |
|---|---|---|
| VANGUARD GROUP INC 0.02% of their portfolio | 21.2m $1.6bn | Added +327.0k |
| FMR LLC 0.04% of their portfolio | 10.7m $799.2m | Reduced -3.3m |
| Aristotle Capital Management, LLC 1.54% of their portfolio | 10.7m $797.7m | Reduced -369.8k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.08% of their portfolio | 10.3m $764.1m | Added +3.3m |
| Bank of New York Mellon Corp 0.12% of their portfolio | 8.8m $655.9m | Reduced -951.9k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 1.45% of their portfolio | 8.5m $632.6m | Reduced -649.0k |
| AKO CAPITAL LLP 8.44% of their portfolio | 8.0m $593.8m | Added +261.0k |
| Select Equity Group, L.P. 2.14% of their portfolio | 6.7m $501.1m | Reduced -34.7k |
| UBS Group AG 0.09% of their portfolio | 6.2m $464.5m | Added +345.8k |
| Harding Loevner LP 3.00% of their portfolio | 5.5m $408.5m | Reduced -1.5m |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 5.4m $399.5m | Added +3.5m |
| FRANKLIN RESOURCES INC 0.10% of their portfolio | 5.3m $399.0m | Added +2.9m |
| Vontobel Holding Ltd. 1.17% of their portfolio | 5.0m $373.6m | Reduced -1.8m |
| T. Rowe Price Investment Management, Inc. 0.22% of their portfolio | 4.9m $363.8m | Reduced -1.0m |
| Amundi 0.12% of their portfolio | 4.8m $369.7m | Added +78.7k |
| Pictet Asset Management Holding SA 0.35% of their portfolio | 4.8m $358.0m | Reduced -68.9k |
| BARCLAYS PLC 0.11% of their portfolio | 3.9m $293.2m | Reduced -266.5k |
| Legal & General Group Plc 0.07% of their portfolio | 3.9m $292.9m | Reduced -145.3k |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 3.9m $287.5m | Added +780.7k |
| ROYAL BANK OF CANADA 0.05% of their portfolio | 3.7m $277.9m | Reduced -3.7m |
| DEUTSCHE BANK AG\ 0.09% of their portfolio | 3.7m $276.7m | Reduced -119.9k |
| Sustainable Growth Advisers, LP 1.40% of their portfolio | 3.2m $239.5m | Reduced -302.5k |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 3.0m $227.2m | Added +393.6k |
| Troy Asset Management Ltd 4.52% of their portfolio | 3.0m $176.1m | New |
| Cantillon Capital Management LLC 1.16% of their portfolio | 2.8m $210.4m | Reduced -30.2k |
| Allspring Global Investments Holdings, LLC 0.33% of their portfolio | 2.8m $207.5m | Added +248.9k |
| ALLIANCEBERNSTEIN L.P. 0.06% of their portfolio | 2.4m $181.7m | Reduced -878.9k |
| BROWN BROTHERS HARRIMAN & CO 1.10% of their portfolio | 2.4m $180.5m | Reduced -52.5k |
| CAISSE DES DEPOTS ET CONSIGNATIONS 7.15% of their portfolio | 2.3m $168.3m | Unchanged |
| MORGAN STANLEY 0.01% of their portfolio | 2.2m $162.8m | Reduced -29.7k |
| Rudius Management LP 33.97% of their portfolio | 2.2m $161.8m | Added +189.2k |
| Fiera Capital Corp 0.51% of their portfolio | 2.1m $157.1m | Added +38.4k |
| KING LUTHER CAPITAL MANAGEMENT CORP 0.64% of their portfolio | 2.1m $155.1m | Reduced -47.5k |
| Capital Research Global Investors 0.03% of their portfolio | 2.0m $150.0m | Reduced -68.3k |
| Nuveen, LLC 0.03% of their portfolio | 1.7m $129.4m | Reduced -148.7k |
| NEUBERGER BERMAN GROUP LLC 0.09% of their portfolio | 1.6m $121.5m | Reduced -560.0k |
| CIBC Private Wealth Group LLC 0.21% of their portfolio | 1.6m $120.6m | Added +319.4k |
| Bank Julius Baer & Co. Ltd, Zurich 0.31% of their portfolio | 1.5m $111.3m | Reduced -292.6k |
| NorthCoast Asset Management LLC 0.42% of their portfolio | 1.4m $107.9m | Added +1.4m |
| THORNBURG INVESTMENT MANAGEMENT INC 1.40% of their portfolio | 1.4m $107.0m | Reduced -180.2k |
| PRIMECAP MANAGEMENT CO/CA/ 0.08% of their portfolio | 1.3m $100.2m | Reduced -10.6k |
| Clearbridge Investments, LLC 0.07% of their portfolio | 1.2m $87.2m | Added +1.1m |
| Liontrust Investment Partners LLP 1.26% of their portfolio | 1.2m $86.1m | Reduced -57.9k |
| Vestal Point Capital, LP 3.72% of their portfolio | 1.1m $82.0m | Added +575.0k |
| Invesco Ltd. 0.01% of their portfolio | 1.1m $80.8m | Reduced -765.9k |
| Banque Cantonale Vaudoise 2.90% of their portfolio | 1.0m $77.4m | Added +8.0k |
| SIH Partners, LLLP 6.73% of their portfolio | 1.0m $77.0m | Added +830.3k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.05% of their portfolio | 982.5k $73.1m | Reduced -71.3k |
| ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio | 977.4k $72.8m | Added +17.0k |
| Allianz Asset Management GmbH 0.09% of their portfolio | 955.1k $71.1m | Added +11 |
| CITIGROUP INC 0.05% of their portfolio | 926.8k $69.0m | Added +164.2k |
| Compagnie Lombard Odier SCmA 0.73% of their portfolio | 890.0k $66.3m | Added +55.8k |
| SEI INVESTMENTS CO 0.07% of their portfolio | 868.8k $64.7m | Added +9.1k |
| Williams Jones Wealth Management, LLC. 0.73% of their portfolio | 855.1k $63.7m | Reduced -54.8k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 838.3k $62.5m | Reduced -28.9k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 737.9k $54.9m | Reduced -84.2k |
| BlackRock, Inc. 0.00% of their portfolio | 736.1k $54.9m | Reduced -1.1m |
| DekaBank Deutsche Girozentrale 0.09% of their portfolio | 726.8k $53.7m | Unchanged |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.04% of their portfolio | 722.6k $53.8m | Added +5.9k |
| MARSHALL WACE, LLP 0.06% of their portfolio | 706.2k $52.6m | Added +204.0k |
| CREDIT AGRICOLE S A 0.17% of their portfolio | 705.7k $52.6m | First filing |
| Ninety One North America, Inc. 1.20% of their portfolio | 699.8k $52.1m | New |
| PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO 0.19% of their portfolio | 681.9k $50.8m | Reduced -357.0k |
| LGT Group Foundation 0.58% of their portfolio | 676.6k $50.5m | Added +25.7k |
| NICHOLAS COMPANY, INC. 0.83% of their portfolio | 660.1k $49.2m | Added +52.4k |
| ANTIPODES PARTNERS Ltd 1.09% of their portfolio | 652.3k $48.6m | Reduced -476.8k |
| BANQUE PICTET & CIE SA 0.49% of their portfolio | 648.7k $48.3m | Added +94.0k |
| FIL Ltd 0.04% of their portfolio | 624.9k $46.5m | Reduced -76.9k |
| PARNASSUS INVESTMENTS, LLC 0.10% of their portfolio | 609.6k $45.4m | Reduced -307.2k |
| JANUS HENDERSON GROUP PLC 0.02% of their portfolio | 588.8k $43.9m | Reduced -1.6m |
| AVIVA PLC 0.07% of their portfolio | 552.5k $41.1m | Reduced -47.9k |
| M&G PLC 0.22% of their portfolio | 546.9k $40.5m | Added +539.7k |
| MACKENZIE FINANCIAL CORP 0.05% of their portfolio | 544.8k $40.6m | Reduced -3.2m |
| TD Asset Management Inc 0.03% of their portfolio | 542.6k $40.4m | Reduced -76.7k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.04% of their portfolio | 533.6k $39.7m | Reduced -190.3k |
| Point72 Asset Management, L.P. 0.08% of their portfolio | 522.8k $39.0m | New |
| M.D. Sass, LLC 3.11% of their portfolio | 511.8k $38.1m | New |
| Ninety One UK Ltd 0.04% of their portfolio | 494.8k $36.9m | Added +246.5k |
| BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio | 478.2k $35.6m | Added +478.0k |
| Birch Hill Investment Advisors LLC 1.40% of their portfolio | 444.2k $33.1m | Added +6.5k |
| BRIDGES INVESTMENT MANAGEMENT INC 0.41% of their portfolio | 434.7k $32.4m | Reduced -5.8k |
| Korea Investment CORP 0.06% of their portfolio | 405.4k $30.2m | Reduced -6.6k |
| Cerity Partners LLC 0.05% of their portfolio | 401.2k $29.9m | Added +24.1k |
| Russell Investments Group, Ltd. 0.03% of their portfolio | 400.1k $29.8m | Reduced -186.7k |
| MACQUARIE GROUP LTD 0.03% of their portfolio | 393.8k $29.3m | Reduced -280.1k |
| Dundas Partners LLP 2.06% of their portfolio | 391.8k $29.2m | Unchanged |
| SIRIOS CAPITAL MANAGEMENT L P 3.76% of their portfolio | 387.2k $28.9m | Added +16.3k |
| AXA Investment Managers S.A. 0.08% of their portfolio | 385.0k $28.7m | First filing |
| Madison Asset Management, LLC 0.30% of their portfolio | 360.1k $26.8m | Reduced -507.0k |
| Pictet North America Advisors SA 2.46% of their portfolio | 352.5k $26.3m | Added +61.6k |
| HSBC HOLDINGS PLC 0.02% of their portfolio | 349.1k $26.0m | Added +84.8k |
| Canoe Financial LP 0.36% of their portfolio | 340.7k $25.4m | Unchanged |
| BRADLEY FOSTER & SARGENT INC/CT 0.37% of their portfolio | 334.4k $24.9m | Reduced -14.4k |
| Reynders McVeigh Capital Management, LLC 1.16% of their portfolio | 332.1k $24.7m | Reduced -7.9k |
| State of Tennessee, Department of Treasury 0.08% of their portfolio | 312.3k $23.3m | Reduced -60.1k |
| JANE STREET GROUP, LLC 0.03% of their portfolio | 305.6k $22.8m | Added +164.9k |
| J. Safra Sarasin Holding AG 0.36% of their portfolio | 300.9k $22.4m | Added +67.2k |
| Public Sector Pension Investment Board 0.08% of their portfolio | 292.1k $21.8m | Added +30.2k |
| FRONTIER CAPITAL MANAGEMENT CO LLC 0.19% of their portfolio | 288.3k $21.5m | Reduced -245.6k |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 263.3k $19.6m | Reduced -17.3k |