BCE INC BCE
COM NEW · Common Stock · CUSIP 05534B760 · ISIN CA05534B7604
Bell Canada Enterprises
* 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 ($126.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $21.76. Options: 13 managers hold calls ($340.3m notional), 12 hold puts ($522.3m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 573 |
| Q4 2022 | 597 |
| Q1 2023 | 584 |
| Q2 2023 | 590 |
| Q3 2023 | 568 |
| Q4 2023 | 542 |
| Q1 2024 | 540 |
| Q2 2024 | 503 |
| Q3 2024 | 501 |
| Q4 2024 | 431 |
| Q1 2025 | 401 |
| Q2 2025 | 391 |
| Q3 2025 | 399 |
| Q4 2025 | 410 |
| Q1 2026 | 407 |
| Q2 2026 | 389 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 225 | 239 |
| Q4 2024 | 178 | 296 |
| Q1 2025 | 173 | 216 |
| Q2 2025 | 170 | 201 |
| Q3 2025 | 194 | 154 |
| Q4 2025 | 169 | 210 |
| Q1 2026 | 187 | 167 |
| Q2 2026 | 173 | 184 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $590.1m | $948.4m | 1.61 |
| Q4 2025 | $600.2m | $872.0m | 1.45 |
| Q1 2026 | $420.4m | $747.8m | 1.78 |
| Q2 2026 | $340.3m | $522.3m | 1.53 |
Biggest buyers
| VIKING GLOBAL INVESTORS LP | New | +8.4m |
| MORGAN STANLEY | Added | +5.3m |
| ROYAL BANK OF CANADA | Added | +4.8m |
| GOLDMAN SACHS GROUP INC | Added | +4.5m |
| BANK OF MONTREAL /CAN/ | Added | +3.6m |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +2.6m |
| NATIONAL BANK OF CANADA /FI/ | Added | +1.9m |
| AGF MANAGEMENT LTD | New | +1.7m |
| Connor, Clark & Lunn Investment Management Ltd. | Added | +1.7m |
| FIL Ltd | Added | +1.2m |
Biggest sellers
| Federation des caisses Desjardins du Quebec | Reduced | -5.9m |
| JUPITER ASSET MANAGEMENT LTD | Sold out | -3.3m |
| Quadrature Capital Ltd | Sold out | -3.3m |
| TWO SIGMA INVESTMENTS, LP | Reduced | -3.2m |
| CANADA PENSION PLAN INVESTMENT BOARD | Reduced | -3.2m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -2.0m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Reduced | -1.9m |
| CIBC WORLD MARKET INC. | Reduced | -1.8m |
| INTACT INVESTMENT MANAGEMENT INC. | Reduced | -1.4m |
| D. E. Shaw & Co., Inc. | Reduced | -1.2m |
Biggest calls
| ROYAL BANK OF CANADA | Added | $136.9m6.4m shares |
| SIG North Trading, ULC | Added | $55.9m2.6m shares |
| D. E. Shaw & Co., Inc. | Reduced | $41.3m1.9m shares |
| TORONTO DOMINION BANK | Added | $33.8m1.6m shares |
| BANK OF MONTREAL /CAN/ | Reduced | $26.8m1.2m shares |
| Periscope Capital Inc. | New | $25.5m1.2m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $5.5m257.3k shares |
| MILLENNIUM MANAGEMENT LLC | Unchanged | $4.6m150.0k shares |
| CITADEL ADVISORS LLC | Reduced | $4.3m198.1k shares |
| JANE STREET GROUP, LLC | Added | $4.0m183.9k shares |
Biggest puts
| ROYAL BANK OF CANADA | Reduced | $229.4m10.7m shares |
| SIG North Trading, ULC | Reduced | $86.3m4.0m shares |
| TORONTO DOMINION BANK | Reduced | $73.4m3.4m shares |
| D. E. Shaw & Co., Inc. | Reduced | $53.7m2.5m shares |
| BANK OF MONTREAL /CAN/ | Added | $48.7m2.3m shares |
| MILLENNIUM MANAGEMENT LLC | Unchanged | $24.4m800.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $2.9m133.6k shares |
| CITADEL ADVISORS LLC | Added | $1.9m87.9k shares |
| Walleye Capital LLC | Reduced | $477.5k22.2k shares |
| GOLDMAN SACHS GROUP INC | New | $430.2k20.0k 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 since 1 Apr 2026
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 since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| ROYAL BANK OF CANADA 0.23% of their portfolio | 64.0m $1.4bn | Added +4.8m |
| BANK OF MONTREAL /CAN/ 0.31% of their portfolio | 39.6m $852.5m | Added +3.6m |
| FIL Ltd 0.60% of their portfolio | 38.7m $832.7m | Added +1.2m |
| Caisse de depot et placement du Quebec 1.05% of their portfolio | 34.1m $734.4m | Unchanged |
| NATIONAL BANK OF CANADA /FI/ 0.44% of their portfolio | 23.2m $498.7m | Added +1.9m |
| CIBC WORLD MARKET INC. 0.78% of their portfolio | 21.6m $464.1m | Reduced -1.8m |
| BANK OF NOVA SCOTIA 0.59% of their portfolio | 18.0m $386.7m | Added +657.7k |
| MORGAN STANLEY 0.01% of their portfolio | 11.4m $244.3m | Added +5.3m |
| Federation des caisses Desjardins du Quebec 0.71% of their portfolio | 10.8m $231.3m | Reduced -5.9m |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 9.0m $193.8m | Added +127.4k |
| VIKING GLOBAL INVESTORS LP 0.51% of their portfolio | 8.4m $180.6m | New |
| LETKO, BROSSEAU & ASSOCIATES INC 2.43% of their portfolio | 7.6m $164.2m | Added +61.7k |
| Vanguard Global Advisers, LLC 0.07% of their portfolio | 7.1m $153.0m | Added +596.1k |
| TD Asset Management Inc 0.13% of their portfolio | 7.0m $151.2m | Reduced -29.4k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 6.6m $141.0m | Added +4.5m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.05% of their portfolio | 5.5m $118.1m | Reduced -2.0m |
| TORONTO DOMINION BANK 0.19% of their portfolio | 5.4m $115.6m | Added +564.2k |
| TWO SIGMA INVESTMENTS, LP 0.08% of their portfolio | 5.2m $112.2m | Reduced -3.2m |
| Cullen Capital Management, LLC 1.05% of their portfolio | 5.0m $107.0m | Reduced -991.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 4.7m $115.4m | Added +2.6m |
| MACKENZIE FINANCIAL CORP 0.13% of their portfolio | 4.2m $128.7m | Added +326.2k |
| NORGES BANK 0.01% of their portfolio | 4.2m $89.6m | Not comparable |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 3.8m $81.5m | Reduced -1.0m |
| UBS Group AG 0.01% of their portfolio | 3.7m $79.2m | Added +770.0k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.04% of their portfolio | 3.6m $77.0m | Reduced -3.2m |
| SCOTIA CAPITAL INC. 0.27% of their portfolio | 3.3m $71.6m | Reduced -443.9k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.05% of their portfolio | 3.1m $66.7m | Reduced -1.9m |
| Legal & General Group Plc 0.01% of their portfolio | 3.1m $65.9m | Added +399.3k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.05% of their portfolio | 3.0m $63.8m | Reduced -188.0k |
| 1832 Asset Management L.P. 0.07% of their portfolio | 2.8m $60.9m | Added +478.5k |
| VANGUARD FIDUCIARY TRUST CO 0.01% of their portfolio | 2.8m $59.5m | Added +15.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 2.7m $58.9m | Added +212.2k |
| Connor, Clark & Lunn Investment Management Ltd. 0.11% of their portfolio | 2.7m $57.0m | Added +1.7m |
| Clearbridge Investments, LLC 0.05% of their portfolio | 2.6m $56.7m | Reduced -81.1k |
| TD Waterhouse Canada Inc. 0.14% of their portfolio | 2.6m $54.6m | Added +352.3k |
| SIG North Trading, ULC 8.96% of their portfolio | 2.3m $49.0m | Added +791.5k |
| FIRST TRUST ADVISORS LP 0.03% of their portfolio | 2.2m $48.1m | Added +399.5k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 2.2m $48.8m | Reduced -366.9k |
| INTACT INVESTMENT MANAGEMENT INC. 1.31% of their portfolio | 2.1m $46.1m | Reduced -1.4m |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 2.1m $45.0m | Added +908.4k |
| Hillsdale Investment Management Inc. 0.98% of their portfolio | 2.0m $43.2m | Added +387.7k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.02% of their portfolio | 1.9m $57.6m | Added +173.0k |
| BESSEMER GROUP INC 0.06% of their portfolio | 1.9m $40.2m | Reduced -30.0k |
| Harvest Portfolios Group Inc. 0.55% of their portfolio | 1.8m $38.9m | Added +404.1k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 1.7m $37.6m | Added +867.4k |
| AGF MANAGEMENT LTD 0.20% of their portfolio | 1.7m $52.3m | New |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 1.6m $34.0m | Added +1.1m |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 4.34% of their portfolio | 1.4m $44.2m | Reduced -398.1k |
| MUFG SECURITIES (CANADA), LTD. 0.76% of their portfolio | 1.3m $28.4m | Reduced -64.1k |
| CIBC Asset Management Inc 0.06% of their portfolio | 1.3m $28.2m | Reduced -1.0k |
| BlackRock, Inc. 0.00% of their portfolio | 1.3m $27.4m | Added +309.3k |
| Balyasny Asset Management L.P. 0.05% of their portfolio | 1.1m $24.7m | Reduced -740.8k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.15% of their portfolio | 1.1m $24.6m | Added +352.0k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.23% of their portfolio | 1.1m $24.2m | Unchanged |
| Amundi 0.01% of their portfolio | 1.1m $22.8m | Added +264.6k |
| Public Sector Pension Investment Board 0.06% of their portfolio | 1.0m $22.3m | Added +882.1k |
| Swiss National Bank 0.01% of their portfolio | 1.0m $21.6m | Added +752.4k |
| Purpose Unlimited Inc. 0.77% of their portfolio | 931.5k $20.0m | Reduced -1.6k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 796.8k $17.1m | Reduced -269.5k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.02% of their portfolio | 772.6k $16.6m | Added +240.1k |
| Allianz Asset Management GmbH 0.02% of their portfolio | 765.0k $16.5m | Added +744.6k |
| GABELLI FUNDS LLC 0.10% of their portfolio | 764.0k $16.4m | Reduced -47.5k |
| AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 758.2k $16.3m | Added +463.5k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 731.1k $15.7m | Added +444.4k |
| NICOLA WEALTH MANAGEMENT LTD. 1.81% of their portfolio | 729.0k $15.7m | Unchanged |
| CITIGROUP INC 0.01% of their portfolio | 682.8k $14.7m | Added +6.7k |
| Ninepoint Partners LP 1.29% of their portfolio | 675.2k $14.5m | Added +186.7k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.01% of their portfolio | 663.0k $14.3m | Added +118.0k |
| NATIXIS 0.06% of their portfolio | 586.7k $12.6m | Added +91.9k |
| NEUBERGER BERMAN GROUP LLC 0.01% of their portfolio | 586.0k $12.6m | Added +10.0k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 536.3k $11.5m | Reduced -161.0k |
| State of Tennessee, Department of Treasury 0.03% of their portfolio | 501.2k $10.8m | Added +770 |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.03% of their portfolio | 496.8k $10.7m | Added +18.1k |
| Invesco Ltd. 0.00% of their portfolio | 492.8k $10.6m | Reduced -121.4k |
| OPPENHEIMER ASSET MANAGEMENT INC. 0.11% of their portfolio | 485.0k $10.4m | Reduced -127.4k |
| Addenda Capital Inc. 0.39% of their portfolio | 465.4k $14.4m | Reduced -5.9k |
| Northwest & Ethical Investments L.P. 0.23% of their portfolio | 450.6k $9.7m | Added +53.3k |
| APG Asset Management N.V. 0.02% of their portfolio | 444.3k $8.4m | Added +58.6k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 424.3k $9.1m | Reduced -1.2m |
| PICTON MAHONEY ASSET MANAGEMENT 0.08% of their portfolio | 414.6k $8.9m | Added +383.0k |
| JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio | 412.6k $9.5m | Added +22.6k |
| HRT FINANCIAL LP 0.02% of their portfolio | 399.3k $8.6m | Added +263.1k |
| Korea Investment CORP 0.02% of their portfolio | 384.9k $8.3m | Added +381.6k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 383.7k $8.3m | Reduced -66.1k |
| Janney Montgomery Scott LLC 0.02% of their portfolio | 381.5k $8.2m | Reduced -54.8k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.03% of their portfolio | 370.9k $8.0m | Reduced -183.3k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 357.5k $7.7m | Added +94.5k |
| Creative Planning 0.00% of their portfolio | 339.7k $7.3m | Reduced -13.2k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 334.5k $7.2m | Reduced -93.4k |
| Ruffer LLP 0.25% of their portfolio | 329.8k $7.1m | Added +49.8k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 326.9k $7.0m | Reduced -21.6k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 325.3k $7.0m | Added +206.5k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 295.6k $6.4m | Added +33.4k |
| FLAX POND CAPITAL, LLC 2.53% of their portfolio | 284.3k $6.8m | Added +87.7k |
| Quantinno Capital Management LP 0.01% of their portfolio | 282.9k $6.1m | Added +61.4k |
| AVIVA PLC 0.01% of their portfolio | 260.8k $5.6m | Added +195.5k |
| AustralianSuper Pty Ltd 0.02% of their portfolio | 256.2k $5.5m | Added +3.7k |
| K.J. Harrison & Partners Inc 0.78% of their portfolio | 254.8k $5.5m | Added +105 |
| STIFEL FINANCIAL CORP 0.00% of their portfolio | 254.0k $5.5m | Added +39.5k |
| Alberta Investment Management Corp 0.03% of their portfolio | 250.1k $5.4m | Unchanged |