Vault-13

BCE INC BCE

COM NEW · Common Stock · CUSIP 05534B760 · ISIN CA05534B7604

Bell Canada Enterprises

503 institutional holders -37 vs Q1 2024
354,909,962354.9m shares reported held*
$11.5bnreported value*
38 new 169 added 214 reduced 77 sold out net sold ≈ $87.0m (+1.0m 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 ($393.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $32.53. Options: 23 managers hold calls ($457.4m notional), 17 hold puts ($592.0m).

Trends to Q2 2024

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 573Q4 22: 597Q1 23: 584Q2 23: 590Q3 23: 568Q4 23: 542Q1 24: 540Q2 24: 503503Q3 22Q1 23Q3 23Q1 24Q2 24
Numbers
QuarterHolders
Q3 2022573
Q4 2022597
Q1 2023584
Q2 2023590
Q3 2023568
Q4 2023542
Q1 2024540
Q2 2024503

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q4 22: 299 bought or addedQ4 22: 219 cut or sold outQ4 22Q1 23: 291 bought or addedQ1 23: 215 cut or sold outQ2 23: 256 bought or addedQ2 23: 259 cut or sold outQ2 23Q3 23: 216 bought or addedQ3 23: 304 cut or sold outQ4 23: 185 bought or addedQ4 23: 329 cut or sold outQ4 23Q1 24: 215 bought or addedQ1 24: 295 cut or sold outQ2 24: 207 bought or addedQ2 24: 291 cut or sold outQ2 24
Numbers
QuarterBought or addedCut or sold out
Q4 2022299219
Q1 2023291215
Q2 2023256259
Q3 2023216304
Q4 2023185329
Q1 2024215295
Q2 2024207291

Calls vs puts

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

CallsPuts
$0$200m$400m$600mQ3 23 calls: $165.0mQ3 23 puts: $119.5mQ3 23P/C 0.72Q4 23 calls: $171.7mQ4 23 puts: $55.6mQ4 23P/C 0.32Q1 24 calls: $154.3mQ1 24 puts: $255.7mQ1 24P/C 1.66Q2 24 calls: $457.4mQ2 24 puts: $592.0mQ2 24P/C 1.29
Numbers
QuarterCallsPutsP/C
Q3 2023$165.0m$119.5m0.72
Q4 2023$171.7m$55.6m0.32
Q1 2024$154.3m$255.7m1.66
Q2 2024$457.4m$592.0m1.29

Biggest buyers

CIBC WORLD MARKET INC. Added +5,452,356+5.5m
Federation des caisses Desjardins du Quebec Added +5,161,229+5.2m
FIL Ltd Added +4,641,225+4.6m
BANK OF MONTREAL /CAN/ Added +3,876,189+3.9m
ROYAL BANK OF CANADA Added +3,627,309+3.6m
NATIONAL BANK OF CANADA /FI/ Added +1,909,780+1.9m
AGF MANAGEMENT LTD Added +1,328,042+1.3m
BANK OF NOVA SCOTIA Added +1,184,725+1.2m
SIG North Trading, ULC Added +1,118,705+1.1m
CIBC Asset Management Inc Added +1,061,488+1.1m

Biggest sellers

MORGAN STANLEY Reduced -7,327,228-7.3m
GOLDMAN SACHS GROUP INC Reduced -4,304,144-4.3m
JPMORGAN CHASE & CO Reduced -3,827,048-3.8m
1832 Asset Management L.P. Reduced -2,948,097-2.9m
BANK OF AMERICA CORP /DE/ Reduced -2,040,715-2.0m
ACADIAN ASSET MANAGEMENT LLC Reduced -1,482,323-1.5m
Connor, Clark & Lunn Investment Management Ltd. Reduced -1,470,100-1.5m
CANADA PENSION PLAN INVESTMENT BOARD Reduced -1,206,100-1.2m
Caisse de depot et placement du Quebec Reduced -670,499-670.5k
RENAISSANCE TECHNOLOGIES LLC Sold out -607,260-607.3k

Biggest calls

ROYAL BANK OF CANADA Added $150.6m4.7m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $34.2m1.1m shares
SIG North Trading, ULC Added $30.8m952.5k shares
Walleye Trading LLC Added $26.8m828.4k shares
CITADEL ADVISORS LLC Added $26.6m820.6k shares
D. E. Shaw & Co., Inc. Added $25.1m775.0k shares
Twin Tree Management, LP Added $24.7m763.1k shares
Murchinson Ltd. New $22.3m690.0k shares
MILLENNIUM MANAGEMENT LLC Added $18.2m410.0k shares
BANK OF MONTREAL /CAN/ Added $13.6m413.7k shares

Biggest puts

ROYAL BANK OF CANADA Added $296.1m9.1m shares
SIG North Trading, ULC Added $117.1m3.6m shares
CIBC WORLD MARKET INC. Added $42.3m1.3m shares
D. E. Shaw & Co., Inc. Added $36.0m1.1m shares
MILLENNIUM MANAGEMENT LLC Added $22.6m510.0k shares
Murchinson Ltd. New $22.3m690.0k shares
CITADEL ADVISORS LLC Added $19.3m594.7k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $16.1m497.4k shares
Walleye Capital LLC New $9.1m281.0k shares
CAPITAL FUND MANAGEMENT S.A. New $4.6m143.5k 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.

Insider purchases and sales in Q2 2024

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 Q2 2024.

Holders, Q2 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ROYAL BANK OF CANADA 0.39% of their portfolio TORONTO, A6 49,973,96850.0m $1.6bn $1.6bn 0.39% Added +3.6m +3,627,309
2 BANK OF MONTREAL /CAN/ 0.37% of their portfolio TORONTO, A6 37,527,87237.5m $1.2bn $1.2bn 0.37% Added +3.9m +3,876,189
3 CIBC WORLD MARKET INC. 1.84% of their portfolio TORONTO, A6 22,909,41722.9m $741.6m $741.6m 1.84% Added +5.5m +5,452,356
4 FIL Ltd 0.67% of their portfolio HAMILTON, D0 20,783,54820.8m $673.2m $673.2m 0.67% Added +4.6m +4,641,225
5 NATIONAL BANK OF CANADA /FI/ 0.90% of their portfolio MONTREAL, A8 18,009,51718.0m $578.6m $578.6m 0.90% Added +1.9m +1,909,780
6 Caisse de depot et placement du Quebec 1.32% of their portfolio Montreal, A8 16,737,28916.7m $542.0m $542.0m 1.32% Reduced -670.5k -670,499
7 BANK OF NOVA SCOTIA 1.00% of their portfolio TORONTO, A6 15,666,36015.7m $507.4m $507.4m 1.00% Added +1.2m +1,184,725
8 VANGUARD GROUP INC 0.01% of their portfolio Valley Forge, PA 15,074,60815.1m $488.0m $488.0m 0.01% Added +349.0k +348,994
9 TD Asset Management Inc 0.33% of their portfolio Toronto, A6 10,849,18110.8m $351.3m $351.3m 0.33% Reduced -150.0k -150,001
10 SCOTIA CAPITAL INC. 1.62% of their portfolio TORONTO, A6 8,529,8508.5m $276.1m $276.1m 1.62% Reduced -565.1k -565,091
11 TORONTO DOMINION BANK 0.44% of their portfolio TORONTO, ONTARIO, A6 8,450,8108.5m $273.6m $273.6m 0.44% Added +905.9k +905,857
12 Federation des caisses Desjardins du Quebec 1.38% of their portfolio LEVIS, A8 7,914,2867.9m $256.7m $256.7m 1.38% Added +5.2m +5,161,229
13 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 5,945,8765.9m $192.5m $192.5m 0.02% Reduced -2.0m -2,040,715
14 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.04% of their portfolio SAN FRANCISCO, CA 5,868,7135.9m $190.0m $190.0m 0.04% Added +1.0m +1,021,911
15 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 5,837,7545.8m $189.0m $189.0m 0.01% Reduced -3.8m -3,827,048
16 CIBC Asset Management Inc 0.64% of their portfolio TORONTO, Z4 5,520,0905.5m $178.7m $178.7m 0.64% Added +1.1m +1,061,488
17 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.15% of their portfolio Toronto, A6 5,068,7285.1m $163.9m $163.9m 0.15% Added +21.5k +21,487
18 Cullen Capital Management, LLC 1.82% of their portfolio New York, NY 4,882,4114.9m $158.0m $158.0m 1.82% Reduced -480.3k -480,291
19 1832 Asset Management L.P. 0.27% of their portfolio TORONTO, A6 4,661,8424.7m $150.9m $150.9m 0.27% Reduced -2.9m -2,948,097
20 GOLDMAN SACHS GROUP INC 0.03% of their portfolio NEW YORK, NY 4,408,2584.4m $142.7m $142.7m 0.03% Reduced -4.3m -4,304,144
21 DEUTSCHE BANK AG\ 0.06% of their portfolio FRANKFURT AM MAIN, 2M 3,820,1893.8m $123.7m $123.7m 0.06% Reduced -463.0k -463,001
22 FEDERATED HERMES, INC. 0.27% of their portfolio PITTSBURGH, PA 3,564,3933.6m $115.4m $115.4m 0.27% Added +186.7k +186,659
23 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 3,543,1763.5m $114.7m $114.7m 0.01% Reduced -7.3m -7,327,228
24 LETKO, BROSSEAU & ASSOCIATES INC 2.16% of their portfolio MONTREAL, A8 3,514,6623.5m $113.8m $113.8m 2.16% Added +71.9k +71,917
25 NORGES BANK 0.02% of their portfolio OSLO, Q8 3,179,7343.2m $103.0m $103.0m 0.02% Added +900.6k +900,616
26 FIRST TRUST ADVISORS LP 0.10% of their portfolio Wheaton, IL 3,098,5863.1m $100.3m $100.3m 0.10% Reduced -108.3k -108,287
27 AMERICAN CENTURY COMPANIES INC 0.06% of their portfolio KANSAS CITY, MO 2,929,8202.9m $94.9m $94.9m 0.06% Reduced -24.6k -24,619
28 Clearbridge Investments, LLC 0.07% of their portfolio NEW YORK, NY 2,768,5972.8m $89.6m $89.6m 0.07% Added +185.9k +185,943
29 TD Waterhouse Canada Inc. 0.75% of their portfolio TORONTO, A6 2,584,6252.6m $83.3m $83.3m 0.75% Reduced -315.9k -315,860
30 MACKENZIE FINANCIAL CORP 0.12% of their portfolio TORONTO ONTARIO, A6 2,545,0422.5m $82.4m $82.4m 0.12% Added +182.2k +182,198
31 ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio Berwyn, PA 2,518,5072.5m $81.5m $81.5m 0.03% Reduced -51.1k -51,127
32 Connor, Clark & Lunn Investment Management Ltd. 0.33% of their portfolio VANCOUVER, A1 2,396,7342.4m $77.6m $77.6m 0.33% Reduced -1.5m -1,470,100
33 Legal & General Group Plc 0.02% of their portfolio London, X0 2,095,5032.1m $67.9m $67.9m 0.02% Reduced -9.8k -9,829
34 Invesco Ltd. 0.01% of their portfolio ATLANTA, GA 1,981,3992.0m $64.1m $64.1m 0.01% Added +73.1k +73,059
35 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 1,891,8181.9m $61.2m $61.2m 0.02% Reduced -49.8k -49,779
36 CANADA PENSION PLAN INVESTMENT BOARD 0.06% of their portfolio TORONTO ONTARIO, A6 1,866,8041.9m $60.5m $60.5m 0.06% Reduced -1.2m -1,206,100
37 RAYMOND JAMES & ASSOCIATES 0.04% of their portfolio ST PETERSBURG, FL 1,811,0931.8m $58.6m $58.6m 0.04% Reduced -272.6k -272,575
38 PRINCIPAL FINANCIAL GROUP INC 0.03% of their portfolio DES MOINES, IA 1,745,9851.7m $56.5m $56.5m 0.03% Reduced -37.3k -37,290
39 SIG North Trading, ULC 13.17% of their portfolio Bala Cynwyd, PA 1,565,8981.6m $50.7m $50.7m 13.17% Added +1.1m +1,118,705
40 APG Asset Management N.V. 0.08% of their portfolio Amsterdam, P7 1,420,7691.4m $42.9m $42.9m 0.08% Added +178.0k +178,031
41 AGF MANAGEMENT LTD 0.33% of their portfolio TORONTO, A6 1,354,4131.4m $60.0m $60.0m 0.33% Added +1.3m +1,328,042
42 MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 5.07% of their portfolio MISSISSAUGA, A6 1,289,1871.3m $41.8m $41.8m 5.07% Added +112.1k +112,079
43 REAVES W H & CO INC 1.33% of their portfolio JERSEY CITY, NJ 1,214,1951.2m $39.3m $39.3m 1.33% Reduced -181.2k -181,161
44 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,191,2081.2m $38.6m $38.6m 0.02% Added +41.7k +41,655
45 Alberta Investment Management Corp 0.38% of their portfolio EDMONTON, A0 1,120,0441.1m $36.3m $36.3m 0.38% Reduced -339.0k -339,040
46 DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.44% of their portfolio CHICAGO, IL 1,065,8651.1m $34.5m $34.5m 0.44% Unchanged
47 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 1,054,8411.1m $35.3m $35.3m 0.01% Reduced -110.4k -110,355
48 JANE STREET GROUP, LLC 0.03% of their portfolio NEW YORK, NY 973,346973.3k $31.5m $31.5m 0.03% Added +187.4k +187,379
49 BANK OF NOVA SCOTIA TRUST CO 3.36% of their portfolio TORONTO, A6 929,346929.3k $30.1m $30.1m 3.36% Added +9.7k +9,676
50 UBS Group AG 0.01% of their portfolio ZURICH, V8 925,812925.8k $30.0m $30.0m 0.01% Reduced -44.7k -44,699
51 Verity & Verity, LLC 1.51% of their portfolio BEAUFORT, SC 834,306834.3k $27.0m $27.0m 1.51% Added +23.0k +23,022
52 GABELLI FUNDS LLC 0.20% of their portfolio Rye, NY 828,500828.5k $26.8m $26.8m 0.20% Reduced -3.0k -3,000
53 INTACT INVESTMENT MANAGEMENT INC. 0.99% of their portfolio MONTREAL, A8 817,660817.7k $26.5m $26.5m 0.99% Added +81.7k +81,700
54 Amundi 0.01% of their portfolio Paris, I0 799,227799.2k $25.2m $25.2m 0.01% Reduced -184.1k -184,130
55 CAPITAL ADVISORS INC/OK 0.51% of their portfolio TULSA, OK 769,432769.4k $24.9m $24.9m 0.51% Added +6.9k +6,861
56 STIFEL FINANCIAL CORP 0.03% of their portfolio ST. LOUIS, MO 738,040738.0k $23.9m $23.9m 0.03% Reduced -36.9k -36,871
57 Addenda Capital Inc. 1.24% of their portfolio MONTREAL, A8 700,910700.9k $31.8m $31.8m 1.24% Reduced -125 -125
58 BlackRock Inc. 0.00% of their portfolio New York, NY 698,086698.1k $22.6m $22.6m 0.00% Added +228.8k +228,778
59 LGT CAPITAL PARTNERS LTD. 0.69% of their portfolio PFAEFFIKON, V8 629,696629.7k $20.4m $20.4m 0.69% Reduced -43.8k -43,794
60 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 618,495618.5k $22.9m $22.9m 0.00% Added +37.2k +37,153
61 CITIGROUP INC 0.02% of their portfolio NEW YORK, NY 603,324603.3k $19.5m $19.5m 0.02% Added +29.4k +29,430
62 GUYASUTA INVESTMENT ADVISORS INC 1.71% of their portfolio PITTSBURGH, PA 591,847591.8k $23.3m $23.3m 1.71% Reduced -10.0k -9,984
63 CRAWFORD INVESTMENT COUNSEL INC 0.35% of their portfolio ATLANTA, GA 564,079564.1k $18.3m $18.3m 0.35% Reduced -3.1k -3,060
64 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 534,020534.0k $17.3m $17.3m 0.00% Added +324.0k +323,998
65 GODSEY & GIBB, INC 1.77% of their portfolio RICHMOND, VA 527,923527.9k $17.1m $17.1m 1.77% Added +75.1k +75,063
66 State of Tennessee, Department of Treasury 0.06% of their portfolio NASHVILLE, TN 523,719523.7k $17.0m $17.0m 0.06% Added +21 +21
67 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 514,609514.6k $16.7m $16.7m 0.00% New
68 Janney Montgomery Scott LLC 0.05% of their portfolio PHILADELPHIA, PA 490,287490.3k $15.9m $15.9m 0.05% Added +393 +393
69 MUFG SECURITIES (CANADA), LTD. 1.03% of their portfolio NEW YORK, NY 482,870482.9k $15.6m $15.6m 1.03% Added +482.4k +482,396
70 OPPENHEIMER ASSET MANAGEMENT INC. 0.20% of their portfolio NEW YORK, NY 482,022482.0k $15.6m $15.6m 0.20% Added +65.9k +65,899
71 D. E. Shaw & Co., Inc. 0.02% of their portfolio New York, NY 475,231475.2k $15.4m $15.4m 0.02% Added +33.5k +33,459
72 NEUBERGER BERMAN GROUP LLC 0.01% of their portfolio NEW YORK, NY 463,860463.9k $15.0m $15.0m 0.01% Added +23.5k +23,505
73 Twin Tree Management, LP 0.43% of their portfolio DALLAS, TX 453,057453.1k $14.7m $14.7m 0.43% Added +239.2k +239,221
74 CANADA LIFE ASSURANCE Co 0.03% of their portfolio WINNIPEG, A2 452,530452.5k $14.7m $14.7m 0.03% Reduced -14.9k -14,855
75 TRUIST FINANCIAL CORP 0.02% of their portfolio CHARLOTTE, NC 438,075438.1k $14.2m $14.2m 0.02% Reduced -45.6k -45,578
76 DORCHESTER WEALTH MANAGEMENT Co 2.32% of their portfolio MONTREAL, A8 371,235371.2k $12.0m $12.0m 2.32% Added +12 +12
77 GUARDIAN CAPITAL ADVISORS LP 1.24% of their portfolio TORONTO, A6 367,030367.0k $11.6m $11.6m 1.24% Reduced -4.6k -4,559
78 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 328,663328.7k $10.6m $10.6m 0.00% Added +7.6k +7,604
79 JENNISON ASSOCIATES LLC 0.01% of their portfolio NEW YORK, NY 321,757321.8k $10.4m $10.4m 0.01% Reduced -6.8k -6,836
80 NATIXIS ADVISORS, LLC 0.02% of their portfolio Boston, MA 320,088320.1k $10.4m $10.4m 0.02% Added +208.4k +208,425
81 Onex Canada Asset Management Inc. 1.03% of their portfolio TORONTO, A6 268,218268.2k $9.0m $9.0m 1.03% Reduced -149.7k -149,704
82 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.03% of their portfolio JUPITER, FL 252,836252.8k $8.2m $8.2m 0.03% Reduced -318.1k -318,080
83 Man Group plc 0.02% of their portfolio LONDON, X0 246,059246.1k $8.0m $8.0m 0.02% Added +57.1k +57,063
84 Northwest & Ethical Investments L.P. 0.21% of their portfolio TORONTO, A6 224,794224.8k $7.3m $7.3m 0.21% Added +7.5k +7,515
85 Marathon Asset Management Ltd 0.24% of their portfolio London, X0 223,023223.0k $7.5m $7.5m 0.24% Reduced -226.5k -226,516
86 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 223,011223.0k $7.2m $7.2m 0.00% Added +903 +903
87 KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.02% of their portfolio LOS ANGELES, CA 222,092222.1k $7.2m $7.2m 0.02% Added +685 +685
88 Swiss National Bank 0.00% of their portfolio ZURICH, V8 218,809218.8k $7.1m $7.1m 0.00% Reduced -1.7k -1,700
89 JARISLOWSKY, FRASER Ltd 0.04% of their portfolio MONTREAL, A8 217,153217.2k $7.0m $7.0m 0.04% Reduced -77.3k -77,306
90 Aviso Financial Inc. 0.39% of their portfolio TORONTO, A6 214,874214.9k $7.0m $7.0m 0.39% First filing
91 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 214,153214.2k $6.9m $6.9m 0.00% Reduced -12.6k -12,588
92 Fiera Capital Corp 0.02% of their portfolio MONTREAL, A8 210,427210.4k $6.8m $6.8m 0.02% Added +10.0k +9,954
93 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 203,291203.3k $6.6m $6.6m 0.01% Added +5.2k +5,158
94 USS Investment Management Ltd 0.05% of their portfolio London, X0 202,748202.7k $6.6m $6.6m 0.05% Added +31.3k +31,268
95 LIBERTY ONE INVESTMENT MANAGEMENT, LLC 0.72% of their portfolio LIBERTYVILLE, IL 197,778197.8k $6.4m $6.4m 0.72% Reduced -8.5k -8,531
96 Zions Bancorporation, N.A. 0.47% of their portfolio SALT LAKE CITY, UT 181,620181.6k $5.9m $5.9m 0.47% Reduced -4.7k -4,661
97 PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. 0.32% of their portfolio EDINA, MN 166,338166.3k $5.4m $5.4m 0.32% Added +12.6k +12,640
98 K.J. Harrison & Partners Inc 0.84% of their portfolio TORONTO, A6 157,825157.8k $5.1m $5.1m 0.84% Added +90.1k +90,128
99 VIKING FUND MANAGEMENT LLC 0.90% of their portfolio MINOT, ND 156,000156.0k $5.0m $5.0m 0.90% Added +4.3k +4,300
100 ADVOCATE GROUP LLC 0.98% of their portfolio MINNETONKA, MN 149,991150.0k $4.9m $4.9m 0.98% Reduced -17.4k -17,365