% of shares outstanding not shown: this line files 20-F annual reports only — a foreign private issuer whose US listing trades as ADSs (depositary receipts), while its cover-page share count is in ORDINARY shares. The depositary ratio is not in our data. The count we hold for this line is 1,797,199,994 shares (as of 2025-12-31, source dei). Dividing one by the other is wrong by the whole ratio (a 5:1 ADR reads one fifth of the true percentage), so the percentage is withheld rather than served wrong. Holder share counts are shown as filed.
Crowding percentile withheld — no market cap for BUD in the served universe — the cohort is size-matched, and an unmatched percentile would compare a micro-cap register to a mega-cap one.
| # | Holder | Shares | Value | % of shares out | Δ QoQ |
|---|---|---|---|---|---|
| 1 | Dodge & Coxtracked | 29,683,73629.7M | $2.1B | — | TRIM -10% |
| 2 | Fisher Asset Management, LLC | 11,915,69011.9M | $827M | — | ADD 5% |
| 3 | MORGAN STANLEY | 3,867,2403.9M | $268M | — | TRIM -8% |
| 4 | FMR LLC | 2,686,0632.7M | $186M | — | ADD 15% |
| 5 | D. E. Shaw & Co., Inc. | 2,315,2452.3M | $161M | — | ADD 14% |
| 6 | BANK OF AMERICA CORP /DE/ | 2,134,3472.1M | $148M | — | TRIM -34% |
| 7 | DAVENPORT & Co LLC | 1,827,1541.8M | $126M | — | TRIM -12% |
| 8 | GOLDMAN SACHS GROUP INC | 1,794,6121.8M | $124M | — | TRIM -55% |
| 9 | GATES FOUNDATION TRUST | 1,703,0001.7M | $118M | — | — |
| 10 | Capital International Investors | 1,490,5301.5M | $102M | — | TRIM -6% |
| 11 | Holocene Advisors, LP | 1,360,5231.4M | $94M | — | ADD 31% |
| 12 | Balyasny Asset Management L.P. | 1,312,8141.3M | $91M | — | ADD 160% |
| 13 | CITADEL ADVISORS LLC | 1,208,1181.2M | $84M | — | TRIM -5% |
| 14 | NORTHERN TRUST CORP | 1,071,3471.1M | $74M | — | TRIM -7% |
| 15 | BlackRock, Inc. | 1,051,9351.1M | $73M | — | ADD 16% |
| 16 | ROYAL BANK OF CANADA | 1,048,2211.0M | $73M | — | TRIM -18% |
| 17 | Seafarer Capital Partners, LLC | 1,034,0001.0M | $72M | — | — |
| 18 | UBS Group AG | 1,003,2501.0M | $70M | — | ADD 10% |
| 19 | Connor, Clark & Lunn Investment Management Ltd. | 985,938985,938 | $68M | — | ADD 268% |
| 20 | BANK OF MONTREAL /CAN/ | 976,894976,894 | $68M | — | ADD 1915% |
| 21 | JPMORGAN CHASE & CO | 847,758847,758 | $58M | — | — |
| 22 | RENAISSANCE TECHNOLOGIES LLC | 810,874810,874 | $56M | — | ADD 65% |
| 23 | RAYMOND JAMES FINANCIAL INC | 802,152802,152 | $56M | — | TRIM -38% |
| 24 | MILLENNIUM MANAGEMENT LLC | 769,686769,686 | $53M | — | ADD 60% |
| 25 | Douglas Lane & Associates, LLC | 769,240769,240 | $53M | — | TRIM -4% |
| 26 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 749,417749,417 | $52M | — | ADD 221% |
| 27 | Alberta Investment Management Corp | 645,100645,100 | $45M | — | — |
| 28 | FIRST TRUST ADVISORS LP | 601,440601,440 | $42M | — | ADD 5% |
| 29 | CAUSEWAY CAPITAL MANAGEMENT LLC | 580,131580,131 | $40M | — | TRIM -17% |
| 30 | DEUTSCHE BANK AG\ | 491,345491,345 | $34M | — | ADD 219% |
| 31 | PENN DAVIS MCFARLAND INC | 485,264485,264 | $34M | — | — |
| 32 | WELLS FARGO & COMPANY/MN | 431,591431,591 | $30M | — | TRIM -9% |
| 33 | JANE STREET GROUP, LLC | 417,739417,739 | $29M | — | NEW |
| 34 | Cook & Bynum Capital Management, LLC | 403,914403,914 | $28M | — | — |
| 35 | VOLORIDGE INVESTMENT MANAGEMENT, LLC | 392,897392,897 | $27M | — | NEW |
| 36 | SEI INVESTMENTS CO | 370,795370,795 | $26M | — | ADD 24% |
| 37 | ENVESTNET ASSET MANAGEMENT INC | 363,086363,086 | $25M | — | TRIM -19% |
| 38 | Invesco Ltd. | 335,271335,271 | $23M | — | ADD 10% |
| 39 | OLD MISSION CAPITAL LLC | 272,460272,460 | $19M | — | ADD 151% |
| 40 | HRT FINANCIAL LP | 271,614271,614 | $19M | — | ADD 20% |
| 41 | BNP PARIBAS FINANCIAL MARKETS | 258,679258,679 | $18M | — | ADD 2037% |
| 42 | Capital Wealth Planning, LLC | 255,033255,033 | $18M | — | NEW |
| 43 | TUDOR INVESTMENT CORP ET AL | 254,015254,015 | $18M | — | ADD 140% |
| 44 | EVERETT HARRIS & CO /CA/ | 238,473238,473 | $17M | — | TRIM -3% |
| 45 | Quantinno Capital Management LP | 214,841214,841 | $15M | — | ADD 29% |
| 46 | Lancaster Investment Management | 212,527212,527 | $15M | — | NEW |
| 47 | NATIXIS ADVISORS, LLC | 206,119206,119 | $14M | — | ADD 7% |
| 48 | JONES FINANCIAL COMPANIES LLLP | 206,756206,756 | $14M | — | ADD 302% |
| 49 | MARSHALL WACE, LLP | 182,101182,101 | $13M | — | TRIM -11% |
| 50 | Creative Planning | 177,506177,506 | $12M | — | ADD 35% |
| 51 | THOMPSON SIEGEL & WALMSLEY LLC | 173,864173,864 | $12M | — | TRIM -14% |
| 52 | NEUBERGER BERMAN GROUP LLC | 173,845173,845 | $12M | — | ADD 22% |
| 53 | MANUFACTURERS LIFE INSURANCE COMPANY, THE | 172,353172,353 | $12M | — | TRIM -29% |
| 54 | AMERICAN CENTURY COMPANIES INC | 172,177172,177 | $12M | — | ADD 23% |
| 55 | CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 169,906169,906 | $12M | — | ADD 23% |
| 56 | LPL Financial LLC | 160,485160,485 | $11M | — | TRIM -8% |
| 57 | SALT Holding Corp. | 154,173154,173 | $11M | — | ADD 35% |
| 58 | Capco Asset Management, LLC | 145,742145,742 | $10M | — | TRIM -52% |
| 59 | US BANCORP \DE\ | 140,034140,034 | $10M | — | — |
| 60 | TD Waterhouse Canada Inc. | 135,156135,156 | $10M | — | ADD 32785% |
| 61 | Walleye Trading LLC | 134,447134,447 | $9M | — | TRIM -59% |
| 62 | Pathstone Holdings, LLC | 132,899132,899 | $9M | — | TRIM -16% |
| 63 | Azimuth Capital Investment Management LLC | 127,902127,902 | $9M | — | ADD 75% |
| 64 | FAIRVIEW CAPITAL INVESTMENT MANAGEMENT, LLC | 127,842127,842 | $9M | — | TRIM -9% |
| 65 | BARCLAYS PLC | 123,786123,786 | $9M | — | ADD 1799% |
| 66 | DIMENSIONAL FUND ADVISORS LP | 121,435121,435 | $8M | — | ADD 13% |
| 67 | GREAT LAKES ADVISORS, LLC | 120,557120,557 | $8M | — | TRIM -54% |
| 68 | CITIGROUP INC | 120,335120,335 | $8M | — | ADD 381% |
| 69 | Engineers Gate Manager LP | 108,612108,612 | $8M | — | ADD 451% |
| 70 | Curi Capital, LLC | 107,592107,592 | $7M | — | TRIM -8% |
| 71 | XTX Topco Ltd | 107,266107,266 | $7M | — | ADD 265% |
| 72 | Fayez Sarofim & Co | 106,006106,006 | $7M | — | — |
| 73 | Callan Family Office, LLC | 105,167105,167 | $7M | — | TRIM -2% |
| 74 | Ally Financial Inc. | 105,000105,000 | $7M | — | — |
| 75 | Clearbridge Investments, LLC | 101,675101,675 | $7M | — | — |
| 76 | Tower Research Capital LLC (TRC) | 101,049101,049 | $7M | — | ADD 70% |
| 77 | Optiver Holding B.V. | 98,97098,970 | $7M | — | ADD 12% |
| 78 | Ironwood Investment Counsel, LLC | 92,61892,618 | $6M | — | ADD 4% |
| 79 | Brooklyn Investment Group | 90,48090,480 | $6M | — | ADD 53% |
| 80 | AQR CAPITAL MANAGEMENT LLC | 89,00589,005 | $6M | — | ADD 44% |
| 81 | QRG CAPITAL MANAGEMENT, INC. | 88,08188,081 | $6M | — | ADD 68% |
| 82 | COMMONWEALTH EQUITY SERVICES, LLC | 87,42287,422 | $6M | — | ADD 62% |
| 83 | Ethic Inc. | 81,83981,839 | $6M | — | TRIM -10% |
| 84 | Clarkston Capital Partners, LLC | 80,46580,465 | $6M | — | TRIM -92% |
| 85 | Qube Research & Technologies Ltd | 77,47177,471 | $5M | — | ADD 134% |
| 86 | STIFEL FINANCIAL CORP | 75,77575,775 | $5M | — | TRIM -13% |
| 87 | O'SHAUGHNESSY ASSET MANAGEMENT, LLC | 75,77475,774 | $5M | — | ADD 15% |
| 88 | LMR Partners LLP | 75,00075,000 | $5M | — | NEW |
| 89 | CAPSTONE INVESTMENT ADVISORS, LLC | 74,00074,000 | $5M | — | NEW |
| 90 | Verition Fund Management LLC | 70,22870,228 | $5M | — | ADD 95% |
| 91 | ABC ARBITRAGE SA | 68,71668,716 | $5M | — | TRIM -17% |
| 92 | Mariner, LLC | 67,80767,807 | $5M | — | ADD 13% |
| 93 | Bank of New York Mellon Corp | 67,75067,750 | $5M | — | ADD 16% |
| 94 | Aquatic Capital Management LLC | 66,62666,626 | $5M | — | TRIM -33% |
| 95 | NATIONAL BANK OF CANADA /FI/ | 63,00763,007 | $4M | — | ADD 1589% |
| 96 | MERCER GLOBAL ADVISORS INC /ADV | 61,53761,537 | $4M | — | TRIM -25% |
| 97 | HANTZ FINANCIAL SERVICES, INC. | 61,49561,495 | $4M | — | ADD 33% |
| 98 | Cerity Partners LLC | 60,74660,746 | $4M | — | TRIM -3% |
| 99 | ARQ WEALTH ADVISORS, LLC | 60,29960,299 | $4M | — | ADD 691% |
| 100 | CAPITAL FUND MANAGEMENT S.A. | 60,24660,246 | $4M | — | NEW |
Rows rank by the value each filer reported — 13F filers price their own positions, so a holder with fewer shares can rank just above one with more.
| Holder | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| Dodge & Coxtracked | 40.0M | 41.1M | 38.5M | 36.5M | 33.1M | 29.7M | $2.1B |
| Fisher Asset Management, LLC | 10.1M | 10.2M | 10.7M | 11.0M | 11.4M | 11.9M | $827M |
| MORGAN STANLEY | 2.7M | 2.8M | 2.7M | 3.2M | 4.2M | 3.9M | $268M |
| FMR LLC | 600K | 1.6M | 7.0M | 5.3M | 2.3M | 2.7M | $186M |
| D. E. Shaw & Co., Inc. | 48K | 332K | 124K | 1.2M | 2.0M | 2.3M | $161M |
| BANK OF AMERICA CORP /DE/ | 1.6M | 2.7M | 3.3M | 3.8M | 3.2M | 2.1M | $148M |
| DAVENPORT & Co LLC | 1.9M | 2.2M | 2.1M | 2.1M | 2.1M | 1.8M | $126M |
| GOLDMAN SACHS GROUP INC | 1.1M | 1.3M | 2.0M | 4.0M | 4.0M | 1.8M | $124M |
| GATES FOUNDATION TRUST | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | $118M |
| Capital International Investors | 2.6M | 2.4M | 1.6M | 1.6M | 1.6M | 1.5M | $102M |
| Holocene Advisors, LP | 9K | — | 495K | — | 1.0M | 1.4M | $94M |
| Balyasny Asset Management L.P. | — | — | 261K | 43K | 505K | 1.3M | $91M |
| CITADEL ADVISORS LLC | 118K | 1.2M | 374K | 752K | 1.3M | 1.2M | $84M |
| NORTHERN TRUST CORP | 849K | 968K | 1.0M | 1.0M | 1.1M | 1.1M | $74M |
| BlackRock, Inc. | 629K | 700K | 867K | 995K | 909K | 1.1M | $73M |
Shares reported each quarter by the largest current holders. Green = added vs the prior filing, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
Holder count only — too few computable %-of-shares-outstanding quarters for a % pane. Line breaks are quarters with no 13F record, never interpolated.
Short interest has its own tab now — open SI →
Source: SEC Form 13F — every institution manager (≥ $100M in 13F securities) reporting a long US-listed position, across ~10,250 filers over 10 years of history. 13F is long-only, US-listed, filed up to 45 days after quarter-end.
Source: SEC Schedule 13D/13G structured XML. 13D = active intent; 13G filers report passively (Rule 13d-1(b) QII / 13d-1(c) Passive / 13d-1(d) Exempt) and are not activists. Percent and delta are the group aggregate the filing reports. Structured 13D/G coverage begins December 2024 (SEC XML mandate).
| Biggest buyers | Δ shares | Δ value | |
|---|---|---|---|
| BANK OF MONTREAL /CAN/ | +928,401 | $64M | ADD |
| Balyasny Asset Management L.P. | +807,393 | $56M | ADD |
| Connor, Clark & Lunn Investment Management Ltd. | +717,900 | $50M | ADD |
| Fisher Asset Management, LLC | +535,286 | $37M | ADD |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | +516,140 | $36M | ADD |
| Biggest sellers | Δ shares | Δ value | |
|---|---|---|---|
| Dodge & Cox | −3,429,695 | $238M | TRIM |
| GQG Partners LLC | −2,332,013 | $162M | TRIM |
| GOLDMAN SACHS GROUP INC | −2,218,441 | $154M | TRIM |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | −1,501,890 | $104M | CLOSE |
| BANK OF AMERICA CORP /DE/ | −1,112,399 | $77M | TRIM |
The 2025-Q4 register is as-filed in ITS OWN share basis; every count below was rebased into the 2026-Q1 basis (no split in between, factor 1). Dollar figures value the SHARE delta at one price — the 2026-03-31 close — rather than differencing two filings' own reported values, which would mix the quarter's price move into the trade figure.
13Fs disclose LONG US-listed positions only — shorts, most derivatives, bonds and non-US listings are invisible here, and a filer's quarter-over-quarter change is not necessarily a trade (index rebalances, in-kind transfers and entity successions all read as flow).
| Quarter | Holders | Shares held | % shares out | Value held |
|---|---|---|---|---|
| 2026-Q1 | 540 | 92,536,653 | — | $6.4B |
| 2025-Q4 | 530 | 99,689,378 | — | $6.4B |
| 2025-Q3 | 480 | 104,118,219 | — | $6.2B |
| 2025-Q2 | 512 | 109,377,318 | — | $7.5B |
| 2025-Q1 | 493 | 110,443,022 | — | $6.8B |
| 2024-Q4 | 481 | 109,891,071 | — | $5.5B |
| 2024-Q3 | 515 | 104,913,140 | — | $6.9B |
| 2024-Q2 | 505 | 102,152,061 | — | $5.9B |
| 2024-Q1 | 528 | 115,915,848 | — | $7.0B |
| 2023-Q4 | 512 | 99,460,539 | — | $6.4B |
| 2023-Q3 | 476 | 95,394,945 | — | $5.3B |
| 2023-Q2 | 486 | 93,592,589 | — | $5.3B |
| 2023-Q1 | 500 | 93,632,403 | — | $6.2B |
| 2022-Q4 | 508 | 98,121,817 | — | $5.9B |
| 2022-Q3 | 460 | 106,315,731 | — | $4.8B |
| 2022-Q2 | 512 | 99,098,524 | — | $5.3B |
| 2022-Q1 | 504 | 88,886,963 | — | $5.3B |
| 2021-Q4 | 513 | 81,913,958 | — | $4.9B |
| 2021-Q3 | 469 | 77,768,393 | — | $4.4B |
| 2021-Q2 | 527 | 73,686,738 | — | $5.3B |
| 2021-Q1 | 507 | 72,100,075 | — | $4.5B |
| 2020-Q4 | 525 | 71,902,198 | — | $5.0B |
| 2020-Q3 | 467 | 76,167,287 | — | $4.1B |
| 2020-Q2 | 458 | 79,230,765 | — | $3.9B |
| 2020-Q1 | 453 | 75,531,765 | — | $3.3B |
| 2019-Q4 | 523 | 67,808,104 | — | $5.6B |
| 2019-Q3 | 515 | 71,449,877 | — | $6.8B |
| 2019-Q2 | 507 | 76,942,098 | — | $6.9B |
| 2019-Q1 | 525 | 76,284,015 | — | $6.4B |
| 2018-Q4 | 513 | 75,573,776 | — | $4.9B |
| 2018-Q3 | 552 | 76,501,445 | — | $6.6B |
| 2018-Q2 | 564 | 79,236,091 | — | $7.8B |
| 2018-Q1 | 587 | 102,294,737 | — | $11.1B |
| 2017-Q4 | 582 | 100,692,359 | — | $11.1B |
| 2017-Q3 | 533 | 96,843,705 | — | $11.6B |
| 2017-Q2 | 520 | 93,804,588 | — | $10.4B |
| 2017-Q1 | 515 | 93,687,762 | — | $10.3B |
| 2016-Q4 | 500 | 85,696,028 | — | $9.0B |
| 2016-Q3 | 502 | 94,950,572 | — | $12.3B |
| 2016-Q2 | 495 | 95,560,986 | — | $12.5B |
| 2016-Q1 | 485 | 88,176,049 | — | $10.9B |
| 2015-Q4 | 491 | 93,561,355 | — | $11.7B |
| 2015-Q3 | 489 | 97,170,392 | — | $10.3B |
| 2015-Q2 | 464 | 94,780,950 | — | $11.4B |
| 2015-Q1 | 464 | 96,466,204 | — | $11.8B |
| 2014-Q4 | 455 | 102,439,196 | — | $11.1B |
| 2014-Q3 | 423 | 102,445,314 | — | $11.4B |
| 2014-Q2 | 417 | 100,777,612 | — | $11.6B |
| 2014-Q1 | 380 | 93,587,984 | — | $9.9B |
| 2013-Q4 | 365 | 93,767,346 | — | $10.0B |
| 2013-Q3 | 346 | 97,377,399 | — | $9.7B |
| 2013-Q2 | 360 | 92,511,849 | — | $8.3B |
| 2013-Q1 | 28 | 5,463,667 | — | $543M |
