Vault-13

BCE INC BCE

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

Bell Canada Enterprises

501 institutional holders -2 vs Q2 2024
355,070,071355.1m shares reported held*
$12.3bnreported value*
56 new 169 added 179 reduced 60 sold out net sold ≈ $64.8m (-116.5k 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 ($415.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $34.76. Options: 22 managers hold calls ($476.5m notional), 14 hold puts ($842.0m).

Trends to Q3 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: 503Q3 24: 501501Q3 22Q1 23Q3 23Q1 24Q3 24
Numbers
QuarterHolders
Q3 2022573
Q4 2022597
Q1 2023584
Q2 2023590
Q3 2023568
Q4 2023542
Q1 2024540
Q2 2024503
Q3 2024501

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 outQ1 23: 291 bought or addedQ1 23: 215 cut or sold outQ1 23Q2 23: 256 bought or addedQ2 23: 259 cut or sold outQ3 23: 216 bought or addedQ3 23: 304 cut or sold outQ3 23Q4 23: 185 bought or addedQ4 23: 329 cut or sold outQ1 24: 215 bought or addedQ1 24: 295 cut or sold outQ1 24Q2 24: 207 bought or addedQ2 24: 291 cut or sold outQ3 24: 225 bought or addedQ3 24: 239 cut or sold outQ3 24
Numbers
QuarterBought or addedCut or sold out
Q4 2022299219
Q1 2023291215
Q2 2023256259
Q3 2023216304
Q4 2023185329
Q1 2024215295
Q2 2024207291
Q3 2024225239

Calls vs puts

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

CallsPuts
$0$250m$500m$750m$1bnQ4 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 1.29Q3 24 calls: $476.5mQ3 24 puts: $842.0mQ3 24P/C 1.77
Numbers
QuarterCallsPutsP/C
Q4 2023$171.7m$55.6m0.32
Q1 2024$154.3m$255.7m1.66
Q2 2024$457.4m$592.0m1.29
Q3 2024$476.5m$842.0m1.77

Biggest buyers

FIL Ltd Added +3,186,761+3.2m
MORGAN STANLEY Added +2,422,719+2.4m
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Added +2,216,974+2.2m
Pathway Financial Advisers, LLC Added +1,798,427+1.8m
JPMORGAN CHASE & CO Added +1,477,312+1.5m
Connor, Clark & Lunn Investment Management Ltd. Added +1,166,800+1.2m
NATIONAL BANK OF CANADA /FI/ Added +864,444+864.4k
Balyasny Asset Management L.P. New +860,937+860.9k
1832 Asset Management L.P. Added +765,871+765.9k
Cullen Capital Management, LLC Added +756,621+756.6k

Biggest sellers

DEUTSCHE BANK AG\ Reduced -3,522,121-3.5m
BANK OF MONTREAL /CAN/ Reduced -3,414,292-3.4m
Federation des caisses Desjardins du Quebec Reduced -2,260,828-2.3m
PRINCIPAL FINANCIAL GROUP INC Reduced -1,723,285-1.7m
CIBC WORLD MARKET INC. Reduced -1,609,601-1.6m
GOLDMAN SACHS GROUP INC Reduced -1,444,407-1.4m
APG Asset Management N.V. Reduced -1,105,399-1.1m
MANUFACTURERS LIFE INSURANCE COMPANY, THE Reduced -919,227-919.2k
AMERIPRISE FINANCIAL INC Reduced -720,639-720.6k
TORONTO DOMINION BANK Reduced -588,003-588.0k

Biggest calls

ROYAL BANK OF CANADA Added $186.6m5.4m shares
SIG North Trading, ULC Added $49.0m1.4m shares
CITADEL ADVISORS LLC Added $29.7m852.8k shares
CIBC WORLD MARKET INC. Added $25.1m720.0k shares
D. E. Shaw & Co., Inc. Reduced $24.3m700.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $22.8m655.8k shares
BANK OF MONTREAL /CAN/ Added $16.4m466.0k shares
Walleye Trading LLC Reduced $15.8m454.0k shares
MILLENNIUM MANAGEMENT LLC Reduced $14.8m314.0k shares
Twin Tree Management, LP Reduced $14.1m405.9k shares

Biggest puts

ROYAL BANK OF CANADA Added $407.3m11.7m shares
SIG North Trading, ULC Added $160.7m4.6m shares
JANE STREET GROUP, LLC New $70.5m2.0m shares
CIBC WORLD MARKET INC. Added $69.1m2.0m shares
D. E. Shaw & Co., Inc. Added $40.7m1.2m shares
MILLENNIUM MANAGEMENT LLC Added $31.0m660.0k shares
BANK OF MONTREAL /CAN/ New $21.2m603.0k shares
CITADEL ADVISORS LLC Reduced $14.2m407.8k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $10.3m295.6k shares
CAPITAL FUND MANAGEMENT S.A. Added $7.6m217.6k 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 Q3 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 Q3 2024.

Holders, Q3 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ROYAL BANK OF CANADA 0.39% of their portfolio TORONTO, A6 50,279,30050.3m $1.7bn $1.7bn 0.39% Added +305.3k +305,332
2 BANK OF MONTREAL /CAN/ 0.56% of their portfolio TORONTO, A6 34,113,58034.1m $1.2bn $1.2bn 0.56% Reduced -3.4m -3,414,292
3 FIL Ltd 0.76% of their portfolio HAMILTON, D0 23,970,30924.0m $833.4m $833.4m 0.76% Added +3.2m +3,186,761
4 CIBC WORLD MARKET INC. 1.67% of their portfolio TORONTO, A6 21,299,81621.3m $741.2m $741.2m 1.67% Reduced -1.6m -1,609,601
5 NATIONAL BANK OF CANADA /FI/ 0.87% of their portfolio MONTREAL, A8 18,873,96118.9m $656.4m $656.4m 0.87% Added +864.4k +864,444
6 Caisse de depot et placement du Quebec 1.16% of their portfolio Montreal, A8 16,737,28916.7m $582.5m $582.5m 1.16% Unchanged
7 BANK OF NOVA SCOTIA 1.14% of their portfolio TORONTO, A6 16,320,84616.3m $567.5m $567.5m 1.14% Added +654.5k +654,486
8 VANGUARD GROUP INC 0.01% of their portfolio Valley Forge, PA 15,466,99315.5m $537.7m $537.7m 0.01% Added +392.4k +392,385
9 TD Asset Management Inc 0.33% of their portfolio Toronto, A6 10,756,09410.8m $379.2m $379.2m 0.33% Reduced -93.1k -93,087
10 SCOTIA CAPITAL INC. 1.55% of their portfolio TORONTO, A6 8,321,7188.3m $289.3m $289.3m 1.55% Reduced -208.1k -208,132
11 TORONTO DOMINION BANK 0.48% of their portfolio TORONTO, ONTARIO, A6 7,862,8077.9m $273.6m $273.6m 0.48% Reduced -588.0k -588,003
12 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 7,315,0667.3m $254.6m $254.6m 0.01% Added +1.5m +1,477,312
13 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 6,430,2236.4m $223.8m $223.8m 0.02% Added +484.3k +484,347
14 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 5,965,8956.0m $207.6m $207.6m 0.02% Added +2.4m +2,422,719
15 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.04% of their portfolio SAN FRANCISCO, CA 5,860,1845.9m $203.9m $203.9m 0.04% Reduced -8.5k -8,529
16 Federation des caisses Desjardins du Quebec 0.97% of their portfolio LEVIS, A8 5,653,4585.7m $196.7m $196.7m 0.97% Reduced -2.3m -2,260,828
17 Cullen Capital Management, LLC 2.14% of their portfolio New York, NY 5,639,0325.6m $196.2m $196.2m 2.14% Added +756.6k +756,621
18 CIBC Asset Management Inc 0.62% of their portfolio TORONTO, Z4 5,475,7415.5m $190.6m $190.6m 0.62% Reduced -44.3k -44,349
19 1832 Asset Management L.P. 0.32% of their portfolio TORONTO, A6 5,427,7135.4m $188.9m $188.9m 0.32% Added +765.9k +765,871
20 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.13% of their portfolio Toronto, A6 4,149,5014.1m $144.4m $144.4m 0.13% Reduced -919.2k -919,227
21 NORGES BANK 0.02% of their portfolio OSLO, Q8 3,747,7403.7m $130.3m $130.3m 0.02% Added +568.0k +568,006
22 LETKO, BROSSEAU & ASSOCIATES INC 2.26% of their portfolio MONTREAL, A8 3,587,4873.6m $124.9m $124.9m 2.26% Added +72.8k +72,825
23 Connor, Clark & Lunn Investment Management Ltd. 0.60% of their portfolio VANCOUVER, A1 3,563,5343.6m $123.9m $123.9m 0.60% Added +1.2m +1,166,800
24 FEDERATED HERMES, INC. 0.26% of their portfolio PITTSBURGH, PA 3,464,1993.5m $120.6m $120.6m 0.26% Reduced -100.2k -100,194
25 FIRST TRUST ADVISORS LP 0.11% of their portfolio Wheaton, IL 3,187,4783.2m $110.9m $110.9m 0.11% Added +88.9k +88,892
26 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 2,963,8513.0m $103.1m $103.1m 0.02% Reduced -1.4m -1,444,407
27 AMERICAN CENTURY COMPANIES INC 0.06% of their portfolio KANSAS CITY, MO 2,852,8652.9m $99.2m $99.2m 0.06% Reduced -77.0k -76,955
28 Clearbridge Investments, LLC 0.07% of their portfolio NEW YORK, NY 2,717,0362.7m $94.6m $94.6m 0.07% Reduced -51.6k -51,561
29 TD Waterhouse Canada Inc. 0.71% of their portfolio TORONTO, A6 2,535,0312.5m $88.0m $88.0m 0.71% Reduced -49.6k -49,594
30 ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio Berwyn, PA 2,482,1422.5m $86.4m $86.4m 0.03% Reduced -36.4k -36,365
31 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.07% of their portfolio BOSTON, MA 2,346,4802.3m $81.6m $81.6m 0.07% Added +2.2m +2,216,974
32 Legal & General Group Plc 0.02% of their portfolio London, X0 2,264,3092.3m $78.8m $78.8m 0.02% Added +168.8k +168,806
33 MACKENZIE FINANCIAL CORP 0.11% of their portfolio TORONTO ONTARIO, A6 2,235,3572.2m $77.7m $77.7m 0.11% Reduced -309.7k -309,685
34 Invesco Ltd. 0.01% of their portfolio ATLANTA, GA 1,981,6482.0m $69.0m $69.0m 0.01% Added +249 +249
35 Pathway Financial Advisers, LLC 0.02% of their portfolio AUBURN, IN 1,852,0251.9m $53.2k $53.2k 0.02% Added +1.8m +1,798,427
36 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 1,847,8801.8m $64.2m $64.2m 0.02% Reduced -43.9k -43,938
37 RAYMOND JAMES & ASSOCIATES 0.04% of their portfolio ST PETERSBURG, FL 1,764,2631.8m $61.4m $61.4m 0.04% Reduced -46.8k -46,830
38 AGF MANAGEMENT LTD 0.33% of their portfolio TORONTO, A6 1,380,9191.4m $64.9m $64.9m 0.33% Added +26.5k +26,506
39 MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 5.23% of their portfolio MISSISSAUGA, A6 1,378,0531.4m $47.9m $47.9m 5.23% Added +88.9k +88,866
40 INTACT INVESTMENT MANAGEMENT INC. 1.57% of their portfolio MONTREAL, A8 1,360,9801.4m $47.3m $47.3m 1.57% Added +543.3k +543,320
41 SIG North Trading, ULC 14.06% of their portfolio Bala Cynwyd, PA 1,303,5911.3m $45.4m $45.4m 14.06% Reduced -262.3k -262,307
42 CANADA PENSION PLAN INVESTMENT BOARD 0.04% of their portfolio TORONTO ONTARIO, A6 1,298,3361.3m $45.2m $45.2m 0.04% Reduced -568.5k -568,468
43 Alberta Investment Management Corp 0.38% of their portfolio EDMONTON, A0 1,249,7781.2m $43.5m $43.5m 0.38% Added +129.7k +129,734
44 DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.49% of their portfolio CHICAGO, IL 1,216,3751.2m $42.3m $42.3m 0.49% Added +150.5k +150,510
45 REAVES W H & CO INC 1.16% of their portfolio JERSEY CITY, NJ 1,214,1951.2m $42.3m $42.3m 1.16% Unchanged
46 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,187,3831.2m $41.3m $41.3m 0.02% Reduced -3.8k -3,825
47 UBS Group AG 0.01% of their portfolio ZURICH, V8 1,109,0711.1m $38.6m $38.6m 0.01% Added +183.3k +183,259
48 JANE STREET GROUP, LLC 0.06% of their portfolio NEW YORK, NY 988,392988.4k $34.4m $34.4m 0.06% Added +15.0k +15,046
49 BANK OF NOVA SCOTIA TRUST CO 3.35% of their portfolio TORONTO, A6 949,317949.3k $33.0m $33.0m 3.35% Added +20.0k +19,971
50 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.11% of their portfolio JUPITER, FL 879,283879.3k $30.6m $30.6m 0.11% Added +626.4k +626,447
51 Balyasny Asset Management L.P. 0.08% of their portfolio Chicago, IL 860,937860.9k $30.0m $30.0m 0.08% New
52 Amundi 0.01% of their portfolio Paris, I0 847,468847.5k $28.4m $28.4m 0.01% Added +48.2k +48,241
53 GABELLI FUNDS LLC 0.21% of their portfolio Rye, NY 826,000826.0k $28.7m $28.7m 0.21% Reduced -2.5k -2,500
54 MUFG SECURITIES (CANADA), LTD. 1.26% of their portfolio NEW YORK, NY 809,720809.7k $28.2m $28.2m 1.26% Added +326.9k +326,850
55 STIFEL FINANCIAL CORP 0.03% of their portfolio ST. LOUIS, MO 755,286755.3k $26.3m $26.3m 0.03% Added +17.2k +17,246
56 BlackRock, Inc. 0.00% of their portfolio New York, NY 752,888752.9k $26.2m $26.2m 0.00% First filing
57 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 723,067723.1k $28.7m $28.7m 0.00% Added +104.6k +104,572
58 Addenda Capital Inc. 1.13% of their portfolio MONTREAL, A8 658,418658.4k $31.6m $31.6m 1.13% Reduced -42.5k -42,492
59 CITIGROUP INC 0.02% of their portfolio NEW YORK, NY 608,144608.1k $21.2m $21.2m 0.02% Added +4.8k +4,820
60 D. E. Shaw & Co., Inc. 0.03% of their portfolio New York, NY 598,135598.1k $20.8m $20.8m 0.03% Added +122.9k +122,904
61 GODSEY & GIBB, INC 1.84% of their portfolio RICHMOND, VA 554,029554.0k $19.3m $19.3m 1.84% Added +26.1k +26,106
62 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 525,835525.8k $18.3m $18.3m 0.00% Reduced -8.2k -8,185
63 State of Tennessee, Department of Treasury 0.06% of their portfolio NASHVILLE, TN 522,297522.3k $18.2m $18.2m 0.06% Reduced -1.4k -1,422
64 CAPITAL ADVISORS INC/OK 0.36% of their portfolio TULSA, OK 513,436513.4k $17.9m $17.9m 0.36% Reduced -256.0k -255,996
65 OPPENHEIMER ASSET MANAGEMENT INC. 0.21% of their portfolio NEW YORK, NY 495,054495.1k $17.2m $17.2m 0.21% Added +13.0k +13,032
66 NEUBERGER BERMAN GROUP LLC 0.01% of their portfolio NEW YORK, NY 475,150475.1k $16.5m $16.5m 0.01% Added +11.3k +11,290
67 CANADA LIFE ASSURANCE Co 0.03% of their portfolio WINNIPEG, A2 451,525451.5k $15.7m $15.7m 0.03% Reduced -1.0k -1,005
68 CRAWFORD INVESTMENT COUNSEL INC 0.26% of their portfolio ATLANTA, GA 434,397434.4k $15.1m $15.1m 0.26% Reduced -129.7k -129,682
69 Verity & Verity, LLC 1.45% of their portfolio BEAUFORT, SC 425,549425.5k $14.8m $14.8m 1.45% Reduced -408.8k -408,757
70 Twin Tree Management, LP 0.33% of their portfolio DALLAS, TX 403,543403.5k $14.0m $14.0m 0.33% Reduced -49.5k -49,514
71 GUARDIAN CAPITAL ADVISORS LP 1.35% of their portfolio TORONTO, A6 393,151393.2k $13.7m $13.7m 1.35% Added +26.1k +26,121
72 TRUIST FINANCIAL CORP 0.02% of their portfolio CHARLOTTE, NC 391,370391.4k $13.6m $13.6m 0.02% Reduced -46.7k -46,705
73 DORCHESTER WEALTH MANAGEMENT Co 2.38% of their portfolio MONTREAL, A8 374,894374.9k $13.0m $13.0m 2.38% Added +3.7k +3,659
74 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 368,589368.6k $12.8m $12.8m 0.00% Reduced -146.0k -146,020
75 Man Group plc 0.04% of their portfolio LONDON, X0 357,156357.2k $12.4m $12.4m 0.04% Added +111.1k +111,097
76 NATIXIS ADVISORS, LLC 0.02% of their portfolio Boston, MA 346,698346.7k $12.1m $12.1m 0.02% Added +26.6k +26,610
77 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 334,202334.2k $11.7m $11.7m 0.00% Reduced -720.6k -720,639
78 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 328,173328.2k $11.0m $11.0m 0.00% Reduced -490 -490
79 JENNISON ASSOCIATES LLC 0.01% of their portfolio NEW YORK, NY 321,757321.8k $11.2m $11.2m 0.01% Unchanged
80 APG Asset Management N.V. 0.07% of their portfolio Amsterdam, P7 315,370315.4k $9.8m $9.8m 0.07% Reduced -1.1m -1,105,399
81 CAPITAL FUND MANAGEMENT S.A. 0.12% of their portfolio PARIS, I0 302,883302.9k $10.5m $10.5m 0.12% Added +240.4k +240,432
82 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 298,068298.1k $10.4m $10.4m 0.00% Reduced -3.5m -3,522,121
83 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.06% of their portfolio VICTORIA, A1 293,427293.4k $10.2m $10.2m 0.06% Added +165.9k +165,881
84 Fiera Capital Corp 0.03% of their portfolio MONTREAL, A8 262,088262.1k $9.1m $9.1m 0.03% Added +51.7k +51,661
85 Qube Research & Technologies Ltd 0.02% of their portfolio LONDON, X0 244,369244.4k $8.5m $8.5m 0.02% New
86 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 238,001238.0k $8.3m $8.3m 0.00% Added +23.8k +23,848
87 Northwest & Ethical Investments L.P. 0.22% of their portfolio TORONTO, A6 235,753235.8k $8.2m $8.2m 0.22% Added +11.0k +10,959
88 Swiss Life Asset Management Ltd 0.09% of their portfolio Zurich, V8 225,562225.6k $7.8m $7.8m 0.09% New
89 JARISLOWSKY, FRASER Ltd 0.04% of their portfolio MONTREAL, A8 222,851222.9k $7.8m $7.8m 0.04% Added +5.7k +5,698
90 Swiss National Bank 0.00% of their portfolio ZURICH, V8 220,709220.7k $7.7m $7.7m 0.00% Added +1.9k +1,900
91 JONES FINANCIAL COMPANIES LLLP 0.01% of their portfolio DES PERES, MO 218,588218.6k $7.7m $7.7m 0.01% Added +128.8k +128,828
92 KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.02% of their portfolio LOS ANGELES, CA 215,770215.8k $7.5m $7.5m 0.02% Reduced -6.3k -6,322
93 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 205,430205.4k $7.1m $7.1m 0.01% Added +2.1k +2,139
94 USS Investment Management Ltd 0.05% of their portfolio London, X0 202,748202.7k $7.1m $7.1m 0.05% Unchanged
95 Onex Canada Asset Management Inc. 0.81% of their portfolio TORONTO, A6 199,876199.9k $6.9m $6.9m 0.81% Reduced -68.3k -68,342
96 LIBERTY ONE INVESTMENT MANAGEMENT, LLC 0.70% of their portfolio LIBERTYVILLE, IL 196,925196.9k $6.9m $6.9m 0.70% Reduced -853 -853
97 Aviso Financial Inc. 0.33% of their portfolio TORONTO, A6 193,333193.3k $6.7m $6.7m 0.33% Reduced -21.5k -21,541
98 Zions Bancorporation, N.A. 0.45% of their portfolio SALT LAKE CITY, UT 177,541177.5k $6.2m $6.2m 0.45% Reduced -4.1k -4,079
99 AYAL Capital Advisors Ltd 3.50% of their portfolio Toronto, A6 175,000175.0k $6.1m $6.1m 3.50% New
100 PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. 0.32% of their portfolio EDINA, MN 167,538167.5k $5.8m $5.8m 0.32% Added +1.2k +1,200