MILLICOM INTL CELLULAR S A TIGO
COM STK · Common Stock · CUSIP L6388F110
- SectorCommunication
- IndustryRadiotelephone Communications
- FilingsSEC EDGAR
* 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 ($6.9m this quarter). Holder counts are more reliable. Shares outstanding: 169.0m 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 ≈ $48.53. Options: 6 managers hold calls ($23.5m notional), 5 hold puts ($1.6m).
Trends to Q3 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 52 |
| Q4 2022 | 59 |
| Q1 2023 | 63 |
| Q2 2023 | 62 |
| Q3 2023 | 61 |
| Q4 2023 | 64 |
| Q1 2024 | 75 |
| Q2 2024 | 96 |
| Q3 2024 | 97 |
| Q4 2024 | 98 |
| Q1 2025 | 172 |
| Q2 2025 | 218 |
| Q3 2025 | 266 |
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 | 28 | 35 |
| Q1 2024 | 43 | 24 |
| Q2 2024 | 57 | 30 |
| Q3 2024 | 43 | 49 |
| Q4 2024 | 42 | 48 |
| Q1 2025 | 140 | 22 |
| Q2 2025 | 140 | 74 |
| Q3 2025 | 175 | 107 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $110.0k | $72.5k | 0.66 |
| Q1 2025 | $93.8k | $272.4k | 2.90 |
| Q2 2025 | $465.5k | $595.7k | 1.28 |
| Q3 2025 | $23.5m | $1.6m | 0.07 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +11.5m |
| Perpetual Ltd | Added | +2.7m |
| Marathon Asset Management Ltd | New | +984.5k |
| NORTHERN TRUST CORP | Added | +714.2k |
| Cullen Capital Management, LLC | New | +643.0k |
| Aberdeen Group plc | New | +539.1k |
| UBS Group AG | Added | +398.7k |
| Aperture Investors, LLC | New | +383.0k |
| SG Americas Securities, LLC | Added | +373.0k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | Added | +365.1k |
Biggest sellers
| Boston Partners | Reduced | -1.4m |
| MANGROVE PARTNERS IM, LLC | Sold out | -1.1m |
| SOUTHEASTERN ASSET MANAGEMENT INC/TN/ | Sold out | -1.0m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -952.9k |
| Park West Asset Management LLC | Reduced | -927.0k |
| BRANDES INVESTMENT PARTNERS, LP | Reduced | -789.4k |
| Itau Unibanco Holding S.A. | Sold out | -703.3k |
| MORGAN STANLEY | Reduced | -627.5k |
| Qube Research & Technologies Ltd | Reduced | -472.0k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Sold out | -453.3k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $12.7m262.3k shares |
| JANE STREET GROUP, LLC | New | $5.4m111.4k shares |
| CITADEL ADVISORS LLC | New | $2.7m54.9k shares |
| Cubist Systematic Strategies, LLC | New | $1.4m27.9k shares |
| CITIGROUP INC | New | $1.2m24.0k shares |
| HAP Trading, LLC | First filing | $199.3k50.4k shares |
Biggest puts
| Cubist Systematic Strategies, LLC | New | $708.7k14.6k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $402.9k8.3k shares |
| CITADEL ADVISORS LLC | Reduced | $310.7k6.4k shares |
| SIMPLEX TRADING, LLC | Reduced | $92.0k1.9k shares |
| GROUP ONE TRADING LLC | New | $87.4k1.8k 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.
| Holder | Stake |
|---|---|
Atlas Investissement SAS
13D · may seek influence
no change · filed 2026-09-24
Stated purposeItem 4 of the Schedule 13D is hereby amended and supplemented by adding the following: The information set forth in Item 3 of this Amendment No. 30 is incorporated herein by reference. In addition, Atlas Investissement intends (subject to certain conditions, including obtaining relevant regulatory approvals, as may be required and in accordance with the documentation pertaining to the Equity Financing Transactions) to purchase additional Common Shares up to a beneficial ownership of 50.5% of the outstanding Common Shares of the Issuer at the time of such acquisition. The actual timing and amount of such purchases will depend on the prevailing market conditions at the time of such purchases. Separately from the above, Atlas Investissement settled the three European-style call spread opti… Full filing |
49.5% |
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 |
|---|---|---|
| JPMORGAN CHASE & CO 0.02% of their portfolio | 12.9m $627.1m | Added +11.5m |
| Dodge & Cox 0.22% of their portfolio | 8.4m $410.1m | Reduced -387.5k |
| BRANDES INVESTMENT PARTNERS, LP 2.27% of their portfolio | 5.8m $283.2m | Reduced -789.4k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 5.8m $283.1m | Added +4.0k |
| BlackRock, Inc. 0.00% of their portfolio | 5.3m $257.4m | Added +348.0k |
| BARCLAYS PLC 0.05% of their portfolio | 2.9m $140.5m | Added +47.2k |
| Perpetual Ltd 1.65% of their portfolio | 2.7m $132.6m | Added +2.7m |
| Swedbank AB 0.12% of their portfolio | 2.4m $116.3m | Reduced -144.5k |
| STATE STREET CORP 0.00% of their portfolio | 2.0m $96.3m | Added +162.9k |
| Boston Partners 0.08% of their portfolio | 1.6m $75.8m | Reduced -1.4m |
| NORTHERN TRUST CORP 0.01% of their portfolio | 1.3m $61.7m | Added +714.2k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.04% of their portfolio | 1.2m $59.1m | Reduced -952.9k |
| Marathon Asset Management Ltd 1.76% of their portfolio | 984.5k $47.8m | New |
| FIRST TRUST ADVISORS LP 0.04% of their portfolio | 969.1k $47.0m | Added +347.4k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 836.7k $40.6m | Reduced -32.5k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 791.3k $38.4m | Added +23.9k |
| VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio | 744.5k $36.1m | Added +2.8k |
| GAMCO INVESTORS, INC. ET AL 0.34% of their portfolio | 716.2k $34.8m | Reduced -67.0k |
| Triodos Investment Management BV 2.49% of their portfolio | 709.0k $34.4m | Reduced -99.0k |
| RENAISSANCE TECHNOLOGIES LLC 0.04% of their portfolio | 700.6k $34.0m | Reduced -110.0k |
| Qube Research & Technologies Ltd 0.04% of their portfolio | 648.0k $31.5m | Reduced -472.0k |
| Cullen Capital Management, LLC 0.34% of their portfolio | 643.0k $31.2m | New |
| MORGAN STANLEY 0.00% of their portfolio | 613.7k $29.8m | Reduced -627.5k |
| CREDIT AGRICOLE S A 0.09% of their portfolio | 564.5k $27.4m | First filing |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.07% of their portfolio | 551.5k $26.8m | Added +263.2k |
| Aberdeen Group plc 0.04% of their portfolio | 539.1k $26.2m | New |
| UBS Group AG 0.01% of their portfolio | 528.6k $25.7m | Added +398.7k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.07% of their portfolio | 482.1k $23.4m | Added +365.1k |
| Park West Asset Management LLC 2.00% of their portfolio | 450.5k $21.9m | Reduced -927.0k |
| MACKENZIE FINANCIAL CORP 0.03% of their portfolio | 448.9k $21.8m | Reduced -75.4k |
| GABELLI FUNDS LLC 0.15% of their portfolio | 445.5k $21.6m | Reduced -19.2k |
| SG Americas Securities, LLC 0.07% of their portfolio | 406.5k $19.7m | Added +373.0k |
| Crossmark Global Holdings, Inc. 0.29% of their portfolio | 397.9k $19.3m | Added +258.0k |
| Aperture Investors, LLC 2.58% of their portfolio | 383.0k $18.6m | New |
| Hosking Partners LLP 0.66% of their portfolio | 377.2k $18.3m | Reduced -141.3k |
| VANGUARD GROUP INC 0.00% of their portfolio | 352.3k $17.1m | Added +173.3k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 340.0k $16.5m | Added +105.7k |
| LB Partners LLC 9.72% of their portfolio | 312.0k $15.1m | Reduced -90.0k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.05% of their portfolio | 307.3k $14.9m | New |
| FMR LLC 0.00% of their portfolio | 294.2k $14.3m | Added +294.0k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 284.0k $13.8m | Added +249.5k |
| HENNESSY ADVISORS INC 0.47% of their portfolio | 277.9k $13.5m | Reduced -22.0k |
| SEI INVESTMENTS CO 0.01% of their portfolio | 267.6k $13.0m | Added +180.2k |
| Nuveen, LLC 0.00% of their portfolio | 246.9k $12.0m | Reduced -209.0k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 242.5k $11.8m | Reduced -64.5k |
| Legal & General Group Plc 0.00% of their portfolio | 238.2k $11.6m | Added +82.8k |
| NORDEA INVESTMENT MANAGEMENT AB 0.01% of their portfolio | 232.4k $11.3m | Added +9.1k |
| PDT Partners, LLC 0.69% of their portfolio | 225.9k $11.0m | Added +45.6k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 212.6k $10.3m | Reduced -12.8k |
| READYSTATE ASSET MANAGEMENT LP 0.50% of their portfolio | 210.5k $10.2m | New |
| Triasima Portfolio Management inc. 1.49% of their portfolio | 203.4k $9.9m | Added +111.9k |
| RENAISSANCE GROUP LLC 0.37% of their portfolio | 201.9k $9.8m | Reduced -90.2k |
| Swiss National Bank 0.01% of their portfolio | 201.1k $9.8m | Added +2.7k |
| Amundi 0.00% of their portfolio | 190.4k $9.2m | Added +115.9k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.01% of their portfolio | 188.4k $9.1m | New |
| Susquehanna Portfolio Strategies, LLC 0.14% of their portfolio | 177.7k $8.6m | Added +157.4k |
| CX Institutional 0.26% of their portfolio | 175.7k $8.5m | New |
| Invesco Ltd. 0.00% of their portfolio | 157.8k $7.7m | Reduced -11.0k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 131.6k $6.4m | Added +4.1k |
| KLP KAPITALFORVALTNING AS 0.02% of their portfolio | 129.8k $6.3m | Added +21.9k |
| Bridgewater Associates, LP 0.02% of their portfolio | 129.4k $6.3m | Reduced -89.4k |
| MERITAGE PORTFOLIO MANAGEMENT 0.42% of their portfolio | 128.6k $6.2m | Reduced -13.5k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.02% of their portfolio | 128.3k $6.2m | Added +16.7k |
| Connor, Clark & Lunn Investment Management Ltd. 0.02% of their portfolio | 117.1k $5.7m | Added +82.2k |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.03% of their portfolio | 116.3k $5.6m | New |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 115.4k $5.6m | Added +1.8k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 109.5k $5.3m | Added +61.4k |
| EXCHANGE TRADED CONCEPTS, LLC 0.05% of their portfolio | 108.6k $5.3m | New |
| Calamos Advisors LLC 0.02% of their portfolio | 108.2k $5.3m | Reduced -11.5k |
| Militia Capital Partners, LP 0.80% of their portfolio | 105.0k $5.1m | Added +39.8k |
| SEGALL BRYANT & HAMILL, LLC 0.06% of their portfolio | 97.6k $4.7m | Unchanged |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 84.9k $4.1m | Added +5.9k |
| Police & Firemen's Retirement System of New Jersey 0.03% of their portfolio | 83.9k $4.1m | Added +22.5k |
| NISA INVESTMENT ADVISORS, LLC 0.02% of their portfolio | 82.6k $4.0m | New |
| Vestcor Inc 0.12% of their portfolio | 81.1k $3.9m | Reduced -21.1k |
| LSV ASSET MANAGEMENT 0.01% of their portfolio | 78.2k $3.8m | Unchanged |
| Verition Fund Management LLC 0.02% of their portfolio | 76.4k $3.7m | Unchanged |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 74.0k $3.6m | Reduced -31.7k |
| Brandywine Global Investment Management, LLC 0.02% of their portfolio | 73.6k $3.6m | New |
| TWO SIGMA ADVISERS, LP 0.01% of their portfolio | 73.3k $3.6m | Reduced -35.8k |
| Ruffer LLP 0.19% of their portfolio | 71.3k $3.5m | New |
| Y-Intercept (Hong Kong) Ltd 0.08% of their portfolio | 65.3k $3.2m | New |
| Future Fund LLC 1.11% of their portfolio | 65.1k $3.2m | Added +20.6k |
| ASSETMARK, INC 0.01% of their portfolio | 64.9k $3.1m | Reduced -1.5k |
| BTG Pactual Asset Management US LLC 0.28% of their portfolio | 63.9k $2.4m | Added +521 |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 57.8k $2.8m | Reduced -16.7k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 57.2k $2.8m | Added +49.1k |
| Man Group plc 0.01% of their portfolio | 55.6k $2.7m | Reduced -36.0k |
| Treasurer of the State of North Carolina 0.01% of their portfolio | 55.1k $2.7m | Added +7.1k |
| WEST MICHIGAN ADVISORS, LLC 0.62% of their portfolio | 53.5k $2.6m | New |
| SIMPLEX TRADING, LLC 0.05% of their portfolio | 51.4k $2.5m | Added +35.6k |
| Neo Ivy Capital Management 0.58% of their portfolio | 49.3k $2.4m | New |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 48.5k $2.4m | Added +47.9k |
| Anfield Capital Management, LLC 0.69% of their portfolio | 48.3k $2.3m | New |
| Raiffeisen Bank International AG 0.03% of their portfolio | 48.0k $2.3m | Added +6.0k |
| Counterpoint Mutual Funds LLC 0.18% of their portfolio | 47.7k $2.3m | Reduced -4.6k |
| Quantbot Technologies LP 0.06% of their portfolio | 46.0k $2.2m | New |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 45.7k $2.2m | Added +4.4k |
| One Capital Management, LLC 0.07% of their portfolio | 44.3k $2.1m | Added +16.4k |
| KBC Group NV 0.01% of their portfolio | 44.2k $2.1m | Added +29.2k |