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 ($11.0m 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 ≈ $55.41. Options: 5 managers hold calls ($27.1m notional), 7 hold puts ($6.1m).
Trends to Q4 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 |
| Q4 2025 | 330 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q4 2025 | 203 | 111 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $93.8k | $272.4k | 2.90 |
| Q2 2025 | $465.5k | $595.7k | 1.28 |
| Q3 2025 | $23.5m | $1.6m | 0.07 |
| Q4 2025 | $27.1m | $6.1m | 0.23 |
Biggest buyers
| Tredje AP-fonden | New | +1.1m |
| FJARDE AP-FONDEN /FOURTH SWEDISH NATIONAL PENSION FUND | New | +1.0m |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | Added | +459.1k |
| AQR CAPITAL MANAGEMENT LLC | Added | +385.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | New | +315.4k |
| STATE STREET CORP | Added | +296.3k |
| FMR LLC | Added | +263.2k |
| MORGAN STANLEY | Added | +234.0k |
| GOLDMAN SACHS GROUP INC | Added | +207.6k |
| Qube Research & Technologies Ltd | Added | +203.0k |
Biggest sellers
| JPMORGAN CHASE & CO | Reduced | -6.2m |
| BRANDES INVESTMENT PARTNERS, LP | Reduced | -998.8k |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -895.9k |
| Perpetual Ltd | Reduced | -682.9k |
| Aberdeen Group plc | Reduced | -529.7k |
| Swedbank AB | Reduced | -381.6k |
| Dodge & Cox | Reduced | -315.5k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -276.3k |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -238.2k |
| READYSTATE ASSET MANAGEMENT LP | Sold out | -210.5k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $15.8m285.5k shares |
| JANE STREET GROUP, LLC | Reduced | $6.0m108.6k shares |
| Point72 Asset Management, L.P. | New | $2.1m37.7k shares |
| CITADEL ADVISORS LLC | Reduced | $1.8m33.1k shares |
| CITIGROUP INC | Unchanged | $1.3m24.0k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $1.9m34.8k shares |
| SIMPLEX TRADING, LLC | Added | $970.2k17.5k shares |
| Point72 Asset Management, L.P. | New | $925.8k16.7k shares |
| IMC-Chicago, LLC | New | $826.1k14.9k shares |
| CITADEL ADVISORS LLC | Added | $720.7k13.0k shares |
| JANE STREET GROUP, LLC | New | $493.4k8.9k shares |
| GROUP ONE TRADING LLC | Added | $243.9k4.4k 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 Q4 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 Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| Dodge & Cox 0.24% of their portfolio | 8.1m $450.9m | Reduced -315.5k |
| JPMORGAN CHASE & CO 0.03% of their portfolio | 6.7m $372.2m | Reduced -6.2m |
| BlackRock, Inc. 0.01% of their portfolio | 5.4m $300.8m | Added +121.4k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 4.9m $273.7m | Reduced -895.9k |
| BRANDES INVESTMENT PARTNERS, LP 2.04% of their portfolio | 4.8m $268.1m | Reduced -998.8k |
| BARCLAYS PLC 0.06% of their portfolio | 2.9m $158.6m | Reduced -34.8k |
| STATE STREET CORP 0.00% of their portfolio | 2.3m $126.4m | Added +296.3k |
| Perpetual Ltd 1.64% of their portfolio | 2.0m $113.6m | Reduced -682.9k |
| Swedbank AB 0.11% of their portfolio | 2.0m $111.7m | Reduced -381.6k |
| Boston Partners 0.09% of their portfolio | 1.6m $88.9m | Added +41.8k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 1.3m $69.5m | Reduced -18.1k |
| Marathon Asset Management Ltd 2.35% of their portfolio | 1.1m $61.1m | Added +116.5k |
| Tredje AP-fonden 0.46% of their portfolio | 1.1m $60.5m | New |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.06% of their portfolio | 1.0m $56.0m | Added +459.1k |
| FJARDE AP-FONDEN /FOURTH SWEDISH NATIONAL PENSION FUND 0.46% of their portfolio | 1.0m $55.4m | New |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.03% of their portfolio | 940.7k $52.2m | Reduced -276.3k |
| FIRST TRUST ADVISORS LP 0.04% of their portfolio | 893.4k $49.5m | Reduced -75.7k |
| Qube Research & Technologies Ltd 0.07% of their portfolio | 850.9k $47.2m | Added +203.0k |
| MORGAN STANLEY 0.00% of their portfolio | 847.7k $47.0m | Added +234.0k |
| VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio | 810.5k $44.9m | Added +66.0k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 777.0k $43.1m | Reduced -14.3k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 724.8k $40.2m | Reduced -111.9k |
| Cullen Capital Management, LLC 0.40% of their portfolio | 656.6k $36.4m | Added +13.6k |
| GAMCO INVESTORS, INC. ET AL 0.35% of their portfolio | 651.1k $36.1m | Reduced -65.0k |
| Triodos Investment Management BV 2.42% of their portfolio | 607.0k $33.4m | Reduced -102.0k |
| CREDIT AGRICOLE S A 0.09% of their portfolio | 575.6k $31.9m | Added +11.1k |
| FMR LLC 0.00% of their portfolio | 557.4k $30.9m | Added +263.2k |
| RENAISSANCE TECHNOLOGIES LLC 0.04% of their portfolio | 462.4k $25.6m | Reduced -238.2k |
| MACKENZIE FINANCIAL CORP 0.03% of their portfolio | 457.8k $25.2m | Added +8.9k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.08% of their portfolio | 454.9k $25.2m | Reduced -27.2k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 450.1k $25.0m | Added +207.6k |
| SG Americas Securities, LLC 0.03% of their portfolio | 433.3k $24.0m | Added +26.8k |
| GABELLI FUNDS LLC 0.16% of their portfolio | 419.1k $23.2m | Reduced -26.4k |
| SEI INVESTMENTS CO 0.02% of their portfolio | 415.4k $23.0m | Added +147.8k |
| Crossmark Global Holdings, Inc. 0.33% of their portfolio | 414.0k $23.0m | Added +16.1k |
| AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 406.4k $22.5m | Added +385.8k |
| Aperture Investors, LLC 2.96% of their portfolio | 383.0k $21.2m | Unchanged |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 371.0k $20.6m | Added +87.1k |
| UBS Group AG 0.00% of their portfolio | 356.3k $19.8m | Reduced -172.3k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 355.2k $19.7m | Added +15.2k |
| Hosking Partners LLP 0.67% of their portfolio | 354.6k $19.7m | Reduced -22.6k |
| Park West Asset Management LLC 1.56% of their portfolio | 335.1k $18.6m | Reduced -115.4k |
| VANGUARD GROUP INC 0.00% of their portfolio | 322.1k $17.9m | Reduced -30.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 315.4k $17.5m | New |
| CANADA PENSION PLAN INVESTMENT BOARD 0.01% of their portfolio | 299.1k $16.6m | Added +110.7k |
| Nuveen, LLC 0.00% of their portfolio | 267.8k $14.8m | Added +20.9k |
| HENNESSY ADVISORS INC 0.51% of their portfolio | 260.9k $14.5m | Reduced -17.0k |
| Legal & General Group Plc 0.00% of their portfolio | 249.1k $13.8m | Added +10.9k |
| Connor, Clark & Lunn Investment Management Ltd. 0.04% of their portfolio | 247.9k $13.7m | Added +130.8k |
| Amundi 0.00% of their portfolio | 240.0k $13.3m | Added +49.6k |
| LB Partners LLC 11.87% of their portfolio | 232.0k $12.9m | Reduced -80.0k |
| Treasurer of the State of North Carolina 0.04% of their portfolio | 226.6k $12.6m | Added +171.5k |
| PDT Partners, LLC 0.81% of their portfolio | 225.9k $12.5m | Unchanged |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 220.6k $10.3m | Reduced -86.7k |
| CAUSEWAY CAPITAL MANAGEMENT LLC 0.16% of their portfolio | 215.9k $12.0m | Added +177.9k |
| NORDEA INVESTMENT MANAGEMENT AB 0.01% of their portfolio | 204.9k $11.4m | Reduced -27.6k |
| Triasima Portfolio Management inc. 1.69% of their portfolio | 203.4k $11.3m | Unchanged |
| Swiss National Bank 0.01% of their portfolio | 200.8k $11.1m | Reduced -300 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 200.6k $11.1m | Reduced -12.0k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 199.8k $11.1m | Added +125.8k |
| Invesco Ltd. 0.00% of their portfolio | 181.1k $10.0m | Added +23.3k |
| RENAISSANCE GROUP LLC 0.40% of their portfolio | 180.0k $10.0m | Reduced -21.9k |
| CX Institutional 0.29% of their portfolio | 178.2k $9.9m | Added +2.6k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 145.6k $8.1m | Added +36.1k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 142.9k $7.9m | Added +85.6k |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.04% of their portfolio | 142.0k $7.9m | Added +25.7k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.02% of their portfolio | 125.2k $6.9m | Reduced -3.2k |
| KLP KAPITALFORVALTNING AS 0.03% of their portfolio | 124.7k $6.9m | Reduced -5.1k |
| MERITAGE PORTFOLIO MANAGEMENT 0.46% of their portfolio | 124.7k $6.9m | Reduced -3.9k |
| HRT FINANCIAL LP 0.03% of their portfolio | 116.5k $6.5m | New |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 112.9k $6.3m | Reduced -2.5k |
| Susquehanna Portfolio Strategies, LLC 0.10% of their portfolio | 111.5k $6.2m | Reduced -66.2k |
| EXCHANGE TRADED CONCEPTS, LLC 0.05% of their portfolio | 111.2k $6.2m | Added +2.6k |
| Brandywine Global Investment Management, LLC 0.04% of their portfolio | 110.6k $6.1m | Added +37.0k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 109.2k $6.1m | Added +99.3k |
| ExodusPoint Capital Management, LP 0.07% of their portfolio | 108.0k $6.0m | Added +79.8k |
| Vestcor Inc 0.17% of their portfolio | 107.0k $5.9m | Added +25.9k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 101.0k $5.6m | Reduced -30.6k |
| SEGALL BRYANT & HAMILL, LLC 0.07% of their portfolio | 98.6k $5.5m | Added +1.0k |
| ASSETMARK, INC 0.01% of their portfolio | 85.1k $4.7m | Added +20.2k |
| NISA INVESTMENT ADVISORS, LLC 0.02% of their portfolio | 83.9k $4.7m | Added +1.3k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 82.3k $4.6m | Reduced -2.6k |
| Man Group plc 0.01% of their portfolio | 81.5k $4.5m | Added +25.9k |
| Future Fund LLC 1.43% of their portfolio | 81.2k $4.5m | Added +16.2k |
| Police & Firemen's Retirement System of New Jersey 0.04% of their portfolio | 80.2k $4.4m | Reduced -3.7k |
| Calamos Advisors LLC 0.02% of their portfolio | 79.5k $4.4m | Reduced -28.7k |
| BTG Pactual Asset Management US LLC 0.49% of their portfolio | 78.8k $4.4m | Added +14.8k |
| LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio | 78.4k $4.3m | New |
| LSV ASSET MANAGEMENT 0.01% of their portfolio | 78.2k $4.3m | Unchanged |
| Verition Fund Management LLC 0.02% of their portfolio | 76.4k $4.2m | Unchanged |
| Militia Capital Partners, LP 0.80% of their portfolio | 76.0k $4.2m | Reduced -29.0k |
| State of Tennessee, Department of Treasury 0.01% of their portfolio | 73.9k $4.5m | New |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 69.5k $3.9m | Added +51.4k |
| TWO SIGMA ADVISERS, LP 0.01% of their portfolio | 68.4k $3.8m | Reduced -4.9k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 65.8k $3.6m | New |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 65.3k $3.6m | Added +16.7k |
| Illinois Municipal Retirement Fund 0.04% of their portfolio | 63.2k $3.5m | New |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 63.2k $3.5m | Added +29.5k |
| One Capital Management, LLC 0.11% of their portfolio | 63.0k $3.5m | Added +18.7k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 60.3k $3.3m | New |