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AT&T
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2,862 hedge funds and large institutions have $129B invested in AT&T in 2025 Q3 according to their latest regulatory filings, with 173 funds opening new positions, 1,205 increasing their positions, 1,182 reducing their positions, and 148 closing their positions.

New
Increased
Maintained
Reduced
Closed

17% more first-time investments, than exits

New positions opened: 173 | Existing positions closed: 148

5% more call options, than puts

Call options by funds: $1.34B | Put options by funds: $1.28B

2% more repeat investments, than reductions

Existing positions increased: 1,205 | Existing positions reduced: 1,182

1% less funds holding

Funds holding: 2,881 → 2,862 (-19)

0.88% less ownership

Funds ownership: 64.97% → 64.09% (-0.88%)

5% less capital invested

Capital invested by funds: $136B → $129B (-$6.54B)

24% less funds holding in top 10

Funds holding in top 10: 55 → 42 (-13)

Holders
2,862
Holders Change
-19
Holders Change %
-0.66%
% of All Funds
37.56%
Holding in Top 10
42
Holding in Top 10 Change
-13
Holding in Top 10 Change %
-23.64%
% of All Funds
0.55%
New
173
Increased
1,205
Reduced
1,182
Closed
148
Calls
$1.34B
Puts
$1.28B
Net Calls
+$58M
Net Calls Change
-$196M

Top Buyers

Rank Fund Capital Flow
1
JP Morgan Chase
JP Morgan Chase
New York
+$646M
2
Amundi
Amundi
France
+$484M
3
Bank of America
Bank of America
North Carolina
+$364M
4
BlackRock
BlackRock
New York
+$347M
5
WP
Woodline Partners
California
+$206M

Top Sellers

Rank Fund Capital Flow
1
DZ Bank
DZ Bank
Germany
-$336M
2
UBS AM
UBS AM
Illinois
-$268M
3
Marshall Wace
Marshall Wace
United Kingdom
-$235M
4
GQG Partners
GQG Partners
Florida
-$229M
5
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
-$204M
Name Holding Trade Value Shares
Change 		Change in
Stake
RPI
2876
Railway Pension Investments
United Kingdom
– -$4.86M -168,100 Closed
DF
2877
DNCA Finance
France
– -$4.26M -147,300 Closed
LSA
2878
L & S Advisors
California
– -$4.01M -138,445 Closed
VIM
2879
VELA Investment Management
Ohio
– -$3.2M -110,609 Closed
MHS
2880
M Holdings Securities
Oregon
– -$3.18M -110,382 Closed
MCM
2881
Moore Capital Management
New York
– -$3.06M -105,907 Closed
QAM
2882
Q3 Asset Management
Michigan
– -$2.99M -103,454 Closed
SGDR
2883
SPX Gestao de Recursos
Brazil
– -$2.89M -100,000 Closed
TPM
2884
Triasima Portfolio Management
Quebec, Canada
– -$2.12M -73,389 Closed
UOTTAIMCU
2885
University of Texas/Texas AM Investment Management Co (UTIMCO)
Texas
– -$2.08M -71,886 Closed
PEAK6
2886
PEAK6
Illinois
– -$1.83M -64,598 Closed
NNPTE
2887
Nationale-Nederlanden Powszechne Towarzystwo Emerytalne
Poland
– -$1.85M -64,012 Closed
OF
2888
Optimize Financial
California
– -$1.48M -51,200 Closed
IC
2889
Iconiq Capital
California
– -$1.3M -44,780 Closed
PRS
2890
Pinkerton Retirement Specialists
Idaho
– -$1.22M -42,196 Closed
SW
2891
SMART Wealth
Nebraska
– -$1.2M -41,615 Closed
CM
2892
Caption Management
Oklahoma
– -$1.2M -41,600 Closed
PCP
2893
Perbak Capital Partners
United Kingdom
– -$1.14M -39,318 Closed
HAM
2894
Harmony Asset Management
Arizona
– -$1.03M -35,426 Closed
OL
2895
Owen LaRue
Kentucky
– -$983K -33,982 Closed
UFF
2896
USA Financial Formulas
Michigan
– -$968K -33,464 Closed
LCM
2897
Laurion Capital Management
New York
– -$960K -33,172 Closed
WI
2898
WBI Investments
New Jersey
– -$933K -32,249 Closed
BCM
2899
Bluefin Capital Management
New York
– -$929K -32,100 Closed
MIM
2900
Morningstar Investment Management
Illinois
– -$916K -31,650 Closed
114 115
116
117 118

T Hedge Fund Activity: Q3 2025 in Review

2,862 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in AT&T (T) for Q3 2025, worth a combined $129B — down 4.8% from $136B a quarter earlier.

Buyers outnumbered sellers: 173 funds opened new T positions and 148 closed out — a net gain of 25 holders — while 1,205 added to existing stakes and 1,182 trimmed.

The largest buyer was JP Morgan Chase, adding an estimated $646M. The largest seller was DZ Bank, cutting an estimated $336M.

  • 2,862 institutional investors held AT&T (T) as of Q3 2025, down from 2,881 in Q2 2025.
  • Funds reported $129B of AT&T stock for Q3 2025, down 4.8% quarter-over-quarter.
  • 173 funds opened new AT&T positions in Q3 2025 and 148 closed out, a net change of +25 holders.
  • The largest AT&T buyer in Q3 2025 was JP Morgan Chase, an estimated $646M added.
  • The largest AT&T seller in Q3 2025 was DZ Bank, an estimated $336M sold.

Based on aggregated 13F filings for Q3 2025.