Vault-13

MILLICOM INTL CELLULAR S A TIGO

COM STK · Common Stock · CUSIP L6388F110

266 institutional holders +48 vs Q2 2025
76,798,90876.8m shares reported held*
45.4% of all shares outstanding*
$3.7bnreported value*
90 new 85 added 65 reduced 42 sold out net bought ≈ $563.5m (+11.3m 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 ($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

0100200300Q3 22: 52Q4 22: 59Q1 23: 63Q2 23: 62Q3 23: 61Q4 23: 64Q1 24: 75Q2 24: 96Q3 24: 97Q4 24: 98Q1 25: 172Q2 25: 218Q3 25: 266266Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 202252
Q4 202259
Q1 202363
Q2 202362
Q3 202361
Q4 202364
Q1 202475
Q2 202496
Q3 202497
Q4 202498
Q1 2025172
Q2 2025218
Q3 2025266

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q4 23: 28 bought or addedQ4 23: 35 cut or sold outQ1 24: 43 bought or addedQ1 24: 24 cut or sold outQ1 24Q2 24: 57 bought or addedQ2 24: 30 cut or sold outQ3 24: 43 bought or addedQ3 24: 49 cut or sold outQ3 24Q4 24: 42 bought or addedQ4 24: 48 cut or sold outQ1 25: 140 bought or addedQ1 25: 22 cut or sold outQ1 25Q2 25: 140 bought or addedQ2 25: 74 cut or sold outQ3 25: 175 bought or addedQ3 25: 107 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20232835
Q1 20244324
Q2 20245730
Q3 20244349
Q4 20244248
Q1 202514022
Q2 202514074
Q3 2025175107

Calls vs puts

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

CallsPuts
$0$10m$20m$30mQ4 24 calls: $110.0kQ4 24 puts: $72.5kQ4 24P/C 0.66Q1 25 calls: $93.8kQ1 25 puts: $272.4kQ1 25P/C 2.90Q2 25 calls: $465.5kQ2 25 puts: $595.7kQ2 25P/C 1.28Q3 25 calls: $23.5mQ3 25 puts: $1.6mQ3 25P/C 0.07
Numbers
QuarterCallsPutsP/C
Q4 2024$110.0k$72.5k0.66
Q1 2025$93.8k$272.4k2.90
Q2 2025$465.5k$595.7k1.28
Q3 2025$23.5m$1.6m0.07

Biggest buyers

JPMORGAN CHASE & CO Added +11,480,318+11.5m
Perpetual Ltd Added +2,681,221+2.7m
Marathon Asset Management Ltd New +984,528+984.5k
NORTHERN TRUST CORP Added +714,158+714.2k
Cullen Capital Management, LLC New +643,031+643.0k
Aberdeen Group plc New +539,088+539.1k
UBS Group AG Added +398,694+398.7k
Aperture Investors, LLC New +383,048+383.0k
SG Americas Securities, LLC Added +373,030+373.0k
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO Added +365,112+365.1k

Biggest sellers

Boston Partners Reduced -1,394,511-1.4m
MANGROVE PARTNERS IM, LLC Sold out -1,079,249-1.1m
SOUTHEASTERN ASSET MANAGEMENT INC/TN/ Sold out -1,037,634-1.0m
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Reduced -952,898-952.9k
Park West Asset Management LLC Reduced -926,950-927.0k
BRANDES INVESTMENT PARTNERS, LP Reduced -789,411-789.4k
Itau Unibanco Holding S.A. Sold out -703,267-703.3k
MORGAN STANLEY Reduced -627,546-627.5k
Qube Research & Technologies Ltd Reduced -472,036-472.0k
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sold out -453,265-453.3k

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.

HolderStakeChangeShares Last filed
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% no change 83.0m≈ $7.5bn 2026-09-24

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

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.02% of their portfolio NEW YORK, NY 12,919,43212.9m $627.1m $627.1m 0.02% Added +11.5m +11,480,318
2 Dodge & Cox 0.22% of their portfolio San Francisco, CA 8,448,6328.4m $410.1m $410.1m 0.22% Reduced -387.5k -387,500
3 BRANDES INVESTMENT PARTNERS, LP 2.27% of their portfolio LA JOLLA, CA 5,835,3075.8m $283.2m $283.2m 2.27% Reduced -789.4k -789,411
4 PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio BALTIMORE, MD 5,831,8825.8m $283.1m $283.1m 0.03% Added +4.0k +3,970
5 BlackRock, Inc. 0.00% of their portfolio New York, NY 5,303,3865.3m $257.4m $257.4m 0.00% Added +348.0k +348,047
6 BARCLAYS PLC 0.05% of their portfolio LONDON, X0 2,895,2152.9m $140.5m $140.5m 0.05% Added +47.2k +47,194
7 Perpetual Ltd 1.65% of their portfolio SYDNEY, NEW SOUTH WALES, C3 2,731,9712.7m $132.6m $132.6m 1.65% Added +2.7m +2,681,221
8 Swedbank AB 0.12% of their portfolio STOCKHOLM, V7 2,395,6642.4m $116.3m $116.3m 0.12% Reduced -144.5k -144,494
9 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 1,982,9492.0m $96.3m $96.3m 0.00% Added +162.9k +162,879
10 Boston Partners 0.08% of their portfolio BOSTON, MA 1,561,9651.6m $75.8m $75.8m 0.08% Reduced -1.4m -1,394,511
11 NORTHERN TRUST CORP 0.01% of their portfolio CHICAGO, IL 1,271,0861.3m $61.7m $61.7m 0.01% Added +714.2k +714,158
12 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.04% of their portfolio BOSTON, MA 1,217,0531.2m $59.1m $59.1m 0.04% Reduced -952.9k -952,898
13 Marathon Asset Management Ltd 1.76% of their portfolio London, X0 984,528984.5k $47.8m $47.8m 1.76% New
14 FIRST TRUST ADVISORS LP 0.04% of their portfolio Wheaton, IL 969,140969.1k $47.0m $47.0m 0.04% Added +347.4k +347,448
15 DEUTSCHE BANK AG\ 0.01% of their portfolio FRANKFURT AM MAIN, 2M 836,689836.7k $40.6m $40.6m 0.01% Reduced -32.5k -32,495
16 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 791,323791.3k $38.4m $38.4m 0.00% Added +23.9k +23,859
17 VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio San Antonio, TX 744,511744.5k $36.1m $36.1m 0.02% Added +2.8k +2,840
18 GAMCO INVESTORS, INC. ET AL 0.34% of their portfolio GREENWICH, CT 716,183716.2k $34.8m $34.8m 0.34% Reduced -67.0k -67,047
19 Triodos Investment Management BV 2.49% of their portfolio DRIEBERGEN-RIJSENBURG, P7 709,000709.0k $34.4m $34.4m 2.49% Reduced -99.0k -99,000
20 RENAISSANCE TECHNOLOGIES LLC 0.04% of their portfolio NEW YORK, NY 700,634700.6k $34.0m $34.0m 0.04% Reduced -110.0k -110,000
21 Qube Research & Technologies Ltd 0.04% of their portfolio LONDON, X0 647,955648.0k $31.5m $31.5m 0.04% Reduced -472.0k -472,036
22 Cullen Capital Management, LLC 0.34% of their portfolio New York, NY 643,031643.0k $31.2m $31.2m 0.34% New
23 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 613,717613.7k $29.8m $29.8m 0.00% Reduced -627.5k -627,546
24 CREDIT AGRICOLE S A 0.09% of their portfolio Montrouge Cedex, I0 564,519564.5k $27.4m $27.4m 0.09% First filing
25 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.07% of their portfolio Paris, I0 551,539551.5k $26.8m $26.8m 0.07% Added +263.2k +263,237
26 Aberdeen Group plc 0.04% of their portfolio EDINBURGH, X0 539,088539.1k $26.2m $26.2m 0.04% New
27 UBS Group AG 0.01% of their portfolio ZURICH, V8 528,614528.6k $25.7m $25.7m 0.01% Added +398.7k +398,694
28 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.07% of their portfolio COLUMBUS, OH 482,147482.1k $23.4m $23.4m 0.07% Added +365.1k +365,112
29 Park West Asset Management LLC 2.00% of their portfolio SAN FRANCISCO, CA 450,527450.5k $21.9m $21.9m 2.00% Reduced -927.0k -926,950
30 MACKENZIE FINANCIAL CORP 0.03% of their portfolio TORONTO ONTARIO, A6 448,864448.9k $21.8m $21.8m 0.03% Reduced -75.4k -75,365
31 GABELLI FUNDS LLC 0.15% of their portfolio Rye, NY 445,500445.5k $21.6m $21.6m 0.15% Reduced -19.2k -19,200
32 SG Americas Securities, LLC 0.07% of their portfolio NEW YORK, NY 406,473406.5k $19.7m $19.7m 0.07% Added +373.0k +373,030
33 Crossmark Global Holdings, Inc. 0.29% of their portfolio HOUSTON, TX 397,857397.9k $19.3m $19.3m 0.29% Added +258.0k +257,957
34 Aperture Investors, LLC 2.58% of their portfolio New York, NY 383,048383.0k $18.6m $18.6m 2.58% New
35 Hosking Partners LLP 0.66% of their portfolio LONDON, X0 377,181377.2k $18.3m $18.3m 0.66% Reduced -141.3k -141,340
36 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 352,344352.3k $17.1m $17.1m 0.00% Added +173.3k +173,311
37 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 339,965340.0k $16.5m $16.5m 0.00% Added +105.7k +105,706
38 LB Partners LLC 9.72% of their portfolio CHARLOTTESVILLE, VA 312,000312.0k $15.1m $15.1m 9.72% Reduced -90.0k -90,000
39 LOS ANGELES CAPITAL MANAGEMENT LLC 0.05% of their portfolio LOS ANGELES, CA 307,340307.3k $14.9m $14.9m 0.05% New
40 FMR LLC 0.00% of their portfolio BOSTON, MA 294,157294.2k $14.3m $14.3m 0.00% Added +294.0k +293,969
41 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 283,959284.0k $13.8m $13.8m 0.00% Added +249.5k +249,458
42 HENNESSY ADVISORS INC 0.47% of their portfolio NOVATO, CA 277,900277.9k $13.5m $13.5m 0.47% Reduced -22.0k -22,000
43 SEI INVESTMENTS CO 0.01% of their portfolio OAKS, PA 267,587267.6k $13.0m $13.0m 0.01% Added +180.2k +180,154
44 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 246,940246.9k $12.0m $12.0m 0.00% Reduced -209.0k -209,014
45 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 242,521242.5k $11.8m $11.8m 0.00% Reduced -64.5k -64,523
46 Legal & General Group Plc 0.00% of their portfolio London, X0 238,244238.2k $11.6m $11.6m 0.00% Added +82.8k +82,832
47 NORDEA INVESTMENT MANAGEMENT AB 0.01% of their portfolio STOCKHOLM, V7 232,426232.4k $11.3m $11.3m 0.01% Added +9.1k +9,100
48 PDT Partners, LLC 0.69% of their portfolio New York, NY 225,909225.9k $11.0m $11.0m 0.69% Added +45.6k +45,600
49 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 212,631212.6k $10.3m $10.3m 0.00% Reduced -12.8k -12,810
50 READYSTATE ASSET MANAGEMENT LP 0.50% of their portfolio CHICAGO, IL 210,526210.5k $10.2m $10.2m 0.50% New
51 Triasima Portfolio Management inc. 1.49% of their portfolio MONTREAL, A8 203,420203.4k $9.9m $9.9m 1.49% Added +111.9k +111,915
52 RENAISSANCE GROUP LLC 0.37% of their portfolio Covington, KY 201,907201.9k $9.8m $9.8m 0.37% Reduced -90.2k -90,173
53 Swiss National Bank 0.01% of their portfolio ZURICH, V8 201,122201.1k $9.8m $9.8m 0.01% Added +2.7k +2,700
54 Amundi 0.00% of their portfolio Paris, I0 190,416190.4k $9.2m $9.2m 0.00% Added +115.9k +115,932
55 CANADA PENSION PLAN INVESTMENT BOARD 0.01% of their portfolio TORONTO ONTARIO, A6 188,353188.4k $9.1m $9.1m 0.01% New
56 Susquehanna Portfolio Strategies, LLC 0.14% of their portfolio Bala Cynwyd, PA 177,698177.7k $8.6m $8.6m 0.14% Added +157.4k +157,423
57 CX Institutional 0.26% of their portfolio AUBURN, IN 175,663175.7k $8.5m $8.5m 0.26% New
58 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 157,782157.8k $7.7m $7.7m 0.00% Reduced -11.0k -11,009
59 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 131,628131.6k $6.4m $6.4m 0.00% Added +4.1k +4,051
60 KLP KAPITALFORVALTNING AS 0.02% of their portfolio OSLO, Q8 129,797129.8k $6.3m $6.3m 0.02% Added +21.9k +21,930
61 Bridgewater Associates, LP 0.02% of their portfolio Westport, CT 129,443129.4k $6.3m $6.3m 0.02% Reduced -89.4k -89,357
62 MERITAGE PORTFOLIO MANAGEMENT 0.42% of their portfolio OVERLAND PARK, KS 128,565128.6k $6.2m $6.2m 0.42% Reduced -13.5k -13,453
63 WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.02% of their portfolio CHICAGO, IL 128,350128.3k $6.2m $6.2m 0.02% Added +16.7k +16,695
64 Connor, Clark & Lunn Investment Management Ltd. 0.02% of their portfolio VANCOUVER, A1 117,075117.1k $5.7m $5.7m 0.02% Added +82.2k +82,207
65 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.03% of their portfolio HARRISBURG, PA 116,300116.3k $5.6m $5.6m 0.03% New
66 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio WEST SACRAMENTO, CA 115,425115.4k $5.6m $5.6m 0.01% Added +1.8k +1,770
67 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 109,549109.5k $5.3m $5.3m 0.00% Added +61.4k +61,388
68 EXCHANGE TRADED CONCEPTS, LLC 0.05% of their portfolio Oklahoma City, OK 108,642108.6k $5.3m $5.3m 0.05% New
69 Calamos Advisors LLC 0.02% of their portfolio NAPERVILLE, IL 108,230108.2k $5.3m $5.3m 0.02% Reduced -11.5k -11,540
70 Militia Capital Partners, LP 0.80% of their portfolio AUSTIN, TX 105,000105.0k $5.1m $5.1m 0.80% Added +39.8k +39,836
71 SEGALL BRYANT & HAMILL, LLC 0.06% of their portfolio CHICAGO, IL 97,57797.6k $4.7m $4.7m 0.06% Unchanged
72 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 84,92184.9k $4.1m $4.1m 0.00% Added +5.9k +5,859
73 Police & Firemen's Retirement System of New Jersey 0.03% of their portfolio TRENTON, NJ 83,88583.9k $4.1m $4.1m 0.03% Added +22.5k +22,517
74 NISA INVESTMENT ADVISORS, LLC 0.02% of their portfolio ST. LOUIS, MO 82,61682.6k $4.0m $4.0m 0.02% New
75 Vestcor Inc 0.12% of their portfolio FREDERICTON, A3 81,12981.1k $3.9m $3.9m 0.12% Reduced -21.1k -21,131
76 LSV ASSET MANAGEMENT 0.01% of their portfolio CHICAGO, IL 78,18078.2k $3.8m $3.8m 0.01% Unchanged
77 Verition Fund Management LLC 0.02% of their portfolio GREENWICH, CT 76,39076.4k $3.7m $3.7m 0.02% Unchanged
78 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 73,98374.0k $3.6m $3.6m 0.00% Reduced -31.7k -31,677
79 Brandywine Global Investment Management, LLC 0.02% of their portfolio PHILADELPHIA, PA 73,58573.6k $3.6m $3.6m 0.02% New
80 TWO SIGMA ADVISERS, LP 0.01% of their portfolio NEW YORK, NY 73,30073.3k $3.6m $3.6m 0.01% Reduced -35.8k -35,800
81 Ruffer LLP 0.19% of their portfolio LONDON, X0 71,31271.3k $3.5m $3.5m 0.19% New
82 Y-Intercept (Hong Kong) Ltd 0.08% of their portfolio HONG KONG, K3 65,26365.3k $3.2m $3.2m 0.08% New
83 Future Fund LLC 1.11% of their portfolio CHICAGO, IL 65,05865.1k $3.2m $3.2m 1.11% Added +20.6k +20,567
84 ASSETMARK, INC 0.01% of their portfolio CONCORD, CA 64,86564.9k $3.1m $3.1m 0.01% Reduced -1.5k -1,464
85 BTG Pactual Asset Management US LLC 0.28% of their portfolio NEW YORK, NY 63,93763.9k $2.4m $2.4m 0.28% Added +521 +521
86 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 57,80057.8k $2.8m $2.8m 0.00% Reduced -16.7k -16,726
87 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 57,23457.2k $2.8m $2.8m 0.00% Added +49.1k +49,112
88 Man Group plc 0.01% of their portfolio LONDON, X0 55,59755.6k $2.7m $2.7m 0.01% Reduced -36.0k -36,035
89 Treasurer of the State of North Carolina 0.01% of their portfolio RALEIGH, NC 55,11355.1k $2.7m $2.7m 0.01% Added +7.1k +7,123
90 WEST MICHIGAN ADVISORS, LLC 0.62% of their portfolio HOLLAND, MI 53,51053.5k $2.6m $2.6m 0.62% New
91 SIMPLEX TRADING, LLC 0.05% of their portfolio CHICAGO, IL 51,35351.4k $2.5m $2.5m 0.05% Added +35.6k +35,581
92 Neo Ivy Capital Management 0.58% of their portfolio NEW YORK, NY 49,27249.3k $2.4m $2.4m 0.58% New
93 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 48,53248.5k $2.4m $2.4m 0.00% Added +47.9k +47,880
94 Anfield Capital Management, LLC 0.69% of their portfolio IRVINE, CA 48,27848.3k $2.3m $2.3m 0.69% New
95 Raiffeisen Bank International AG 0.03% of their portfolio VIENNA, C4 48,00048.0k $2.3m $2.3m 0.03% Added +6.0k +6,000
96 Counterpoint Mutual Funds LLC 0.18% of their portfolio San Diego, CA 47,71647.7k $2.3m $2.3m 0.18% Reduced -4.6k -4,647
97 Quantbot Technologies LP 0.06% of their portfolio NEW YORK, NY 45,96646.0k $2.2m $2.2m 0.06% New
98 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 45,71145.7k $2.2m $2.2m 0.00% Added +4.4k +4,400
99 One Capital Management, LLC 0.07% of their portfolio WESTLAKE VILLAGE, CA 44,27844.3k $2.1m $2.1m 0.07% Added +16.4k +16,402
100 KBC Group NV 0.01% of their portfolio Brussels, C9 44,20944.2k $2.1m $2.1m 0.01% Added +29.2k +29,211