Vault-13

CANADIAN PAC RY LTD

COM · CUSIP 13645T100

903 institutional holders +84 vs Q3 2022
680,618,273680.6m shares reported held*
$50.8bnreported value*
107 new 252 added 323 reduced 44 sold out net sold ≈ $728.8m (-9.7m 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 ($399.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $74.69. Options: 28 managers hold calls ($153.8m notional), 27 hold puts ($140.4m).

Trends to Q4 2022

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 819Q4 22: 903903Q3 22Q4 22
Numbers
QuarterHolders
Q3 2022819
Q4 2022903

Calls vs puts

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

CallsPuts
$0$50m$100m$150m$200mQ3 22 calls: $140.8mQ3 22 puts: $103.7mQ3 22P/C 0.74Q4 22 calls: $153.8mQ4 22 puts: $140.4mQ4 22P/C 0.91
Numbers
QuarterCallsPutsP/C
Q3 2022$140.8m$103.7m0.74
Q4 2022$153.8m$140.4m0.91

Biggest buyers

NATIONAL BANK OF CANADA /FI/ Added +4,630,693+4.6m
BESSEMER GROUP INC Added +1,372,123+1.4m
PRICE T ROWE ASSOCIATES INC /MD/ Added +1,308,127+1.3m
Capital World Investors Added +1,189,128+1.2m
MILLENNIUM MANAGEMENT LLC New +1,180,638+1.2m
GILDER GAGNON HOWE & CO LLC Added +1,065,108+1.1m
Allen Investment Management, LLC Added +1,050,825+1.1m
LORD, ABBETT & CO. LLC New +629,600+629.6k
VANGUARD GROUP INC Added +615,961+616.0k
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC Added +525,673+525.7k

Biggest sellers

BANK OF MONTREAL /CAN/ Reduced -4,513,521-4.5m
FMR LLC Reduced -3,572,427-3.6m
Egerton Capital (UK) LLP Reduced -2,156,083-2.2m
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Reduced -1,907,051-1.9m
PARNASSUS INVESTMENTS, LLC Reduced -1,363,249-1.4m
DEUTSCHE BANK AG\ Reduced -1,064,385-1.1m
WCM INVESTMENT MANAGEMENT, LLC Reduced -1,022,995-1.0m
Artisan Partners Limited Partnership Reduced -934,108-934.1k
JPMORGAN CHASE & CO Reduced -924,814-924.8k
WELLINGTON MANAGEMENT GROUP LLP Reduced -741,583-741.6k

Biggest calls

ROYAL BANK OF CANADA Added $24.8m332.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $23.6m316.2k shares
CITADEL ADVISORS LLC Added $22.4m301.0k shares
Walleye Trading LLC Reduced $18.8m251.6k shares
Squarepoint Ops LLC Added $10.0m133.8k shares
GROUP ONE TRADING LLC Reduced $9.9m133.3k shares
D. E. Shaw & Co., Inc. Unchanged $9.0m121.1k shares
JANE STREET GROUP, LLC Added $6.8m91.5k shares
WOLVERINE TRADING, LLC Added $4.7m63.5k shares
CIBC WORLD MARKET INC. Added $4.5m60.0k shares

Biggest puts

CITADEL ADVISORS LLC Added $23.3m311.9k shares
LOCUST WOOD CAPITAL ADVISERS, LLC New $23.0m308.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $17.2m230.1k shares
Squarepoint Ops LLC Added $15.8m212.4k shares
EQUITEC PROPRIETARY MARKETS, LLC Unchanged $11.9m159.7k shares
GROUP ONE TRADING LLC Added $7.7m102.6k shares
Twin Tree Management, LP Reduced $6.8m91.7k shares
SIMPLEX TRADING, LLC Reduced $6.3m84.6k shares
Walleye Trading LLC Added $4.6m61.3k shares
SIG North Trading, ULC Reduced $3.9m53.0k 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.

Holders, Q4 2022

#ManagerLocationShares Value% of their portfolioChangeShares change
1 TCI FUND MANAGEMENT LTD 13.91% of their portfolio LONDON, X0 55,860,38555.9m $4.2bn $4.2bn 13.91% Unchanged
2 ROYAL BANK OF CANADA 1.18% of their portfolio TORONTO, A6 52,186,94852.2m $3.9bn $3.9bn 1.18% Reduced -351.1k -351,105
3 VANGUARD GROUP INC 0.07% of their portfolio Valley Forge, PA 32,523,90232.5m $2.4bn $2.4bn 0.07% Added +616.0k +615,961
4 FMR LLC 0.24% of their portfolio BOSTON, MA 31,838,87531.8m $2.4bn $2.4bn 0.24% Reduced -3.6m -3,572,427
5 WCM INVESTMENT MANAGEMENT, LLC 7.53% of their portfolio LAGUNA BEACH, CA 30,262,64830.3m $2.3bn $2.3bn 7.53% Reduced -1.0m -1,022,995
6 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.77% of their portfolio Boston, MA 29,599,78929.6m $2.2bn $2.2bn 0.77% Reduced -1.9m -1,907,051
7 FIL Ltd 2.65% of their portfolio HAMILTON, D0 29,565,20729.6m $2.2bn $2.2bn 2.65% Reduced -499.9k -499,920
8 Capital World Investors 0.39% of their portfolio LOS ANGELES, CA 24,566,68724.6m $1.8bn $1.8bn 0.39% Added +1.2m +1,189,128
9 Egerton Capital (UK) LLP 13.05% of their portfolio LONDON, X0 20,333,18320.3m $1.5bn $1.5bn 13.05% Reduced -2.2m -2,156,083
10 BANK OF MONTREAL /CAN/ 0.68% of their portfolio TORONTO, A6 19,216,09219.2m $1.4bn $1.4bn 0.68% Reduced -4.5m -4,513,521
11 NORGES BANK 0.27% of their portfolio OSLO, Q8 15,239,78515.2m $1.1bn $1.1bn 0.27% Added +443.3k +443,268
12 Pershing Square Capital Management, L.P. 12.94% of their portfolio New York, NY 15,237,04415.2m $1.1bn $1.1bn 12.94% Unchanged
13 MACKENZIE FINANCIAL CORP 1.78% of their portfolio TORONTO ONTARIO, A6 14,155,64314.2m $1.1bn $1.1bn 1.78% Reduced -501.8k -501,827
14 Veritas Asset Management LLP 8.48% of their portfolio London, X0 13,880,57413.9m $1.0bn $1.0bn 8.48% Reduced -410.5k -410,472
15 TD Asset Management Inc 1.22% of their portfolio Toronto, A6 13,293,93113.3m $990.5m $990.5m 1.22% Reduced -252.7k -252,710
16 1832 Asset Management L.P. 1.98% of their portfolio TORONTO, A6 12,921,81712.9m $963.8m $963.8m 1.98% Reduced -151.9k -151,914
17 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.51% of their portfolio Toronto, A6 10,932,88910.9m $814.6m $814.6m 0.51% Reduced -658.5k -658,527
18 PARNASSUS INVESTMENTS, LLC 1.87% of their portfolio San Francisco, CA 10,112,21510.1m $754.3m $754.3m 1.87% Reduced -1.4m -1,363,249
19 Artisan Partners Limited Partnership 1.32% of their portfolio Milwaukee, WI 9,948,7089.9m $741.9m $741.9m 1.32% Reduced -934.1k -934,108
20 PRICE T ROWE ASSOCIATES INC /MD/ 0.11% of their portfolio BALTIMORE, MD 9,403,5149.4m $701.4m $701.4m 0.11% Added +1.3m +1,308,127
21 CIBC Asset Management Inc 2.75% of their portfolio TORONTO, Z4 8,700,5838.7m $648.8m $648.8m 2.75% Added +90.1k +90,100
22 BANK OF NOVA SCOTIA 1.56% of their portfolio TORONTO, A6 8,060,0748.1m $600.9m $600.9m 1.56% Added +235.7k +235,669
23 CIBC WORLD MARKET INC. 1.98% of their portfolio TORONTO, A6 6,741,8306.7m $502.3m $502.3m 1.98% Added +280.9k +280,945
24 Connor, Clark & Lunn Investment Management Ltd. 2.75% of their portfolio VANCOUVER, A1 6,411,9436.4m $478.1m $478.1m 2.75% Added +29.4k +29,387
25 NATIONAL BANK OF CANADA /FI/ 1.24% of their portfolio MONTREAL, A8 6,156,6276.2m $458.8m $458.8m 1.24% Added +4.6m +4,630,693
26 Legal & General Group Plc 0.18% of their portfolio London, X0 6,135,2126.1m $457.2m $457.2m 0.18% Reduced -232.2k -232,201
27 JPMORGAN CHASE & CO 0.06% of their portfolio NEW YORK, NY 5,597,9695.6m $417.6m $417.6m 0.06% Reduced -924.8k -924,814
28 Fiera Capital Corp 1.22% of their portfolio MONTREAL, A8 5,235,2875.2m $391.0m $391.0m 1.22% Reduced -174.1k -174,073
29 WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 1.47% of their portfolio CHICAGO, IL 5,137,7785.1m $383.2m $383.2m 1.47% Added +525.7k +525,673
30 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.66% of their portfolio FRANKFURT AM MAIN, 2M 4,979,6015.0m $371.3m $371.3m 0.66% Added +418.3k +418,328
31 Beutel, Goodman & Co Ltd. 2.20% of their portfolio TORONTO, A6 4,884,2654.9m $363.9m $363.9m 2.20% Reduced -48.3k -48,297
32 Clearbridge Investments, LLC 0.32% of their portfolio NEW YORK, NY 4,653,7454.7m $327.6m $327.6m 0.32% Added +4.8k +4,756
33 MORGAN STANLEY 0.04% of their portfolio NEW YORK, NY 4,472,0324.5m $333.6m $333.6m 0.04% Added +310.9k +310,879
34 AMERICAN CENTURY COMPANIES INC 0.27% of their portfolio KANSAS CITY, MO 4,411,3404.4m $329.0m $329.0m 0.27% Reduced -13.2k -13,212
35 BANK OF AMERICA CORP /DE/ 0.04% of their portfolio CHARLOTTE, NC 4,152,3034.2m $309.7m $309.7m 0.04% Added +44.4k +44,376
36 Allen Investment Management, LLC 4.78% of their portfolio NEW YORK, NY 3,992,5564.0m $297.8m $297.8m 4.78% Added +1.1m +1,050,825
37 Swiss National Bank 0.21% of their portfolio ZURICH, V8 3,921,2933.9m $292.3m $292.3m 0.21% Reduced -261.4k -261,355
38 Fayez Sarofim & Co 1.00% of their portfolio Houston, TX 3,627,6553.6m $270.6m $270.6m 1.00% Reduced -5.6k -5,640
39 BESSEMER GROUP INC 0.66% of their portfolio WOODBRIDGE, NJ 3,607,0923.6m $269.0m $269.0m 0.66% Added +1.4m +1,372,123
40 WELLINGTON MANAGEMENT GROUP LLP 0.05% of their portfolio Boston, MA 3,522,2153.5m $262.4m $262.4m 0.05% Reduced -741.6k -741,583
41 TORONTO DOMINION BANK 0.38% of their portfolio TORONTO, ONTARIO, A6 3,413,1153.4m $256.2m $256.2m 0.38% Reduced -17.2k -17,193
42 FRANKLIN RESOURCES INC 0.13% of their portfolio San Mateo, CA 3,246,5203.2m $242.1m $242.1m 0.13% Reduced -490.7k -490,687
43 GOLDMAN SACHS GROUP INC 0.06% of their portfolio NEW YORK, NY 3,030,7953.0m $226.1m $226.1m 0.06% Reduced -470.7k -470,678
44 GEODE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio BOSTON, MA 2,958,6403.0m $221.4m $221.4m 0.03% Reduced -10.5k -10,531
45 Invesco Ltd. 0.06% of their portfolio ATLANTA, GA 2,660,2092.7m $198.4m $198.4m 0.06% Added +338.2k +338,153
46 PRINCIPAL FINANCIAL GROUP INC 0.15% of their portfolio DES MOINES, IA 2,640,5802.6m $196.7m $196.7m 0.15% Added +142.5k +142,532
47 CHILTON INVESTMENT CO INC. 5.92% of their portfolio STAMFORD, CT 2,594,0972.6m $193.5m $193.5m 5.92% Reduced -535.5k -535,543
48 Alberta Investment Management Corp 1.64% of their portfolio EDMONTON, A0 2,489,8762.5m $185.5m $185.5m 1.64% Reduced -21.8k -21,760
49 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.09% of their portfolio NEW YORK, NY 2,415,0572.4m $180.1m $180.1m 0.09% Added +203.3k +203,262
50 NORTHERN TRUST CORP 0.04% of their portfolio CHICAGO, IL 2,390,7622.4m $178.3m $178.3m 0.04% Reduced -170.4k -170,381
51 NAYA CAPITAL MANAGEMENT UK LTD 16.96% of their portfolio London, X0 2,372,0732.4m $176.9m $176.9m 16.96% Reduced -63.5k -63,472
52 Sumitomo Mitsui Trust Group, Inc. 0.14% of their portfolio CHIYODA-KU, TOKYO, M0 2,340,8282.3m $174.8m $174.8m 0.14% Reduced -28.3k -28,289
53 SCOTIA CAPITAL INC. 1.32% of their portfolio TORONTO, A6 2,312,3512.3m $172.2m $172.2m 1.32% Added +89.8k +89,805
54 DEUTSCHE BANK AG\ 0.10% of their portfolio FRANKFURT AM MAIN, 2M 2,308,4322.3m $172.2m $172.2m 0.10% Reduced -1.1m -1,064,385
55 BARCLAYS PLC 0.14% of their portfolio LONDON, X0 2,226,1802.2m $166.1m $166.1m 0.14% First filing
56 WELLS FARGO & COMPANY/MN 0.05% of their portfolio SAN FRANCISCO, CA 2,093,8582.1m $156.2m $156.2m 0.05% Reduced -36.4k -36,436
57 OMERS ADMINISTRATION Corp 2.44% of their portfolio TORONTO, A6 2,042,8862.0m $152.2m $152.2m 2.44% Unchanged
58 Amundi 0.08% of their portfolio Paris, I0 1,915,1851.9m $148.1m $148.1m 0.08% Reduced -366.9k -366,935
59 CANADA PENSION PLAN INVESTMENT BOARD 0.25% of their portfolio TORONTO ONTARIO, A6 1,909,6001.9m $142.3m $142.3m 0.25% Reduced -31.9k -31,900
60 Caisse de depot et placement du Quebec 0.39% of their portfolio Montreal, A8 1,685,3661.7m $125.6m $125.6m 0.39% Reduced -403.4k -403,367
61 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 1.30% of their portfolio VICTORIA, A1 1,598,8521.6m $119.2m $119.2m 1.30% Reduced -168.4k -168,427
62 GUARDIAN CAPITAL LP 3.64% of their portfolio TORONTO, A6 1,481,7291.5m $110.4m $110.4m 3.64% Reduced -137.4k -137,364
63 BAILLIE GIFFORD & CO 0.11% of their portfolio EDINBURGH, X0 1,455,5451.5m $108.4m $108.4m 0.11% Reduced -26.6k -26,627
64 CREDIT SUISSE AG/ 0.11% of their portfolio ZURICH, V8 1,428,9561.4m $106.6m $106.6m 0.11% Added +52.4k +52,401
65 RAYMOND JAMES & ASSOCIATES 0.10% of their portfolio ST PETERSBURG, FL 1,397,1581.4m $104.2m $104.2m 0.10% Reduced -45.4k -45,421
66 BRISTOL JOHN W & CO INC /NY/ 2.40% of their portfolio NEW YORK, NY 1,349,7351.3m $100.7m $100.7m 2.40% Added +2.0k +1,975
67 THORNBURG INVESTMENT MANAGEMENT INC 1.66% of their portfolio SANTA FE, NM 1,314,4891.3m $98.1m $98.1m 1.66% Reduced -12.6k -12,609
68 TD Waterhouse Canada Inc. 1.43% of their portfolio TORONTO, A6 1,276,1891.3m $129.9m $129.9m 1.43% Added +28.4k +28,379
69 AGF MANAGEMENT LTD 0.66% of their portfolio TORONTO, A6 1,214,0751.2m $90.5m $90.5m 0.66% First filing
70 Bank of New York Mellon Corp 0.02% of their portfolio NEW YORK, NY 1,212,4261.2m $90.4m $90.4m 0.02% Added +44.0k +44,031
71 UBS Group AG 0.04% of their portfolio ZURICH, V8 1,195,5241.2m $89.2m $89.2m 0.04% Added +127.2k +127,209
72 Federation des caisses Desjardins du Quebec 1.11% of their portfolio LEVIS, A8 1,186,8971.2m $93.4m $93.4m 1.11% Reduced -16.1k -16,067
73 MILLENNIUM MANAGEMENT LLC 0.10% of their portfolio NEW YORK, NY 1,180,6381.2m $88.1m $88.1m 0.10% New
74 Cardinal Capital Management, Inc. 4.91% of their portfolio WINNIPEG, A2 1,166,1691.2m $87.0m $87.0m 4.91% Added +8.8k +8,832
75 TYBOURNE CAPITAL MANAGEMENT (HK) LTD 8.36% of their portfolio HONG KONG, K3 1,124,6921.1m $83.9m $83.9m 8.36% Reduced -94.4k -94,443
76 Echo Street Capital Management LLC 0.81% of their portfolio New York, NY 1,116,8201.1m $83.3m $83.3m 0.81% Added +84.8k +84,825
77 Marathon Asset Management Ltd 2.18% of their portfolio London, X0 1,084,9971.1m $81.0m $81.0m 2.18% Reduced -16.3k -16,318
78 CITADEL ADVISORS LLC 0.09% of their portfolio MIAMI, FL 1,083,1221.1m $80.8m $80.8m 0.09% Added +145.2k +145,171
79 GILDER GAGNON HOWE & CO LLC 1.51% of their portfolio New York, NY 1,082,2481.1m $80.7m $80.7m 1.51% Added +1.1m +1,065,108
80 REAVES W H & CO INC 2.84% of their portfolio JERSEY CITY, NJ 1,067,8271.1m $79.6m $79.6m 2.84% Reduced -8.2k -8,173
81 Scharf Investments, LLC 2.57% of their portfolio LOS GATOS, CA 1,051,9861.1m $78.5m $78.5m 2.57% Reduced -6.6k -6,614
82 Consulta Ltd 6.40% of their portfolio LONDON, X0 1,000,0001.0m $74.6m $74.6m 6.40% Added +225.0k +225,000
83 ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio Berwyn, PA 999,331999.3k $74.5m $74.5m 0.04% Reduced -20.3k -20,335
84 APG Asset Management N.V. 0.19% of their portfolio Amsterdam, P7 974,072974.1k $98.3m $98.3m 0.19% Added +149.7k +149,660
85 Coronation Fund Managers Ltd. 1.93% of their portfolio Cape Town, T3 931,652931.7k $69.5m $69.5m 1.93% Added +295.7k +295,735
86 United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund 3.98% of their portfolio MELBOURNE, C3 929,317929.3k $69.2m $69.2m 3.98% Unchanged
87 LOCUST WOOD CAPITAL ADVISERS, LLC 4.53% of their portfolio NEW YORK, NY 867,393867.4k $64.7m $64.7m 4.53% Reduced -62.1k -62,128
88 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 778,291778.3k $58.2m $58.2m 0.00% Reduced -616.1k -616,099
89 MONTANOVA CAPITAL, LLC 2.40% of their portfolio New York, NY 765,840765.8k $57.1m $57.1m 2.40% Reduced -10.4k -10,436
90 CIDEL ASSET MANAGEMENT INC 2.65% of their portfolio TORONTO, A6 760,948760.9k $56.7m $56.7m 2.65% Reduced -37.0k -37,034
91 Russell Investments Group, Ltd. 0.12% of their portfolio Seattle, WA 759,916759.9k $56.7m $56.7m 0.12% Added +53.5k +53,483
92 Addenda Capital Inc. 3.33% of their portfolio MONTREAL, A8 757,774757.8k $76.6m $76.6m 3.33% Reduced -24.9k -24,892
93 Triasima Portfolio Management inc. 4.29% of their portfolio MONTREAL, A8 753,026753.0k $56.1m $56.1m 4.29% Added +240.5k +240,541
94 Korea Investment CORP 0.17% of their portfolio SEOUL, M5 717,887717.9k $53.5m $53.5m 0.17% Added +227.2k +227,160
95 PICTET ASSET MANAGEMENT SA 0.08% of their portfolio GENEVA 73, V8 703,736703.7k $52.4m $52.4m 0.08% Added +17.7k +17,693
96 Galibier Capital Management Ltd. 10.40% of their portfolio TORONTO, A6 688,601688.6k $51.3m $51.3m 10.40% Reduced -22.1k -22,104
97 Scheer, Rowlett & Associates Investment Management Ltd. 4.17% of their portfolio TORONTO, A6 670,117670.1k $50.0m $50.0m 4.17% Reduced -9.1k -9,114
98 Port Capital LLC 3.49% of their portfolio CHICAGO, IL 646,827646.8k $48.2m $48.2m 3.49% Reduced -8.3k -8,323
99 BlackRock Inc. 0.00% of their portfolio New York, NY 629,983630.0k $47.0m $47.0m 0.00% Added +9.1k +9,110
100 LORD, ABBETT & CO. LLC 0.08% of their portfolio JERSEY CITY, NJ 629,600629.6k $47.0m $47.0m 0.08% New