Vault-13

FRANCO NEV CORP FNV

COM · Common Stock · CUSIP 351858105 · ISIN CA3518581051

543 institutional holders +17 vs Q1 2025
142,575,376142.6m shares reported held*
$23.4bnreported value*
61 new 200 added 178 reduced 43 sold out net bought ≈ $601.9m (+3.8m 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 ($85.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $164.05. Options: 23 managers hold calls ($227.7m notional), 20 hold puts ($149.7m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 471Q4 22: 488Q1 23: 491Q2 23: 495Q3 23: 495Q4 23: 490Q1 24: 500Q2 24: 480Q3 24: 492Q4 24: 486Q1 25: 526Q2 25: 543543Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022471
Q4 2022488
Q1 2023491
Q2 2023495
Q3 2023495
Q4 2023490
Q1 2024500
Q2 2024480
Q3 2024492
Q4 2024486
Q1 2025526
Q2 2025543

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q3 23: 185 bought or addedQ3 23: 226 cut or sold outQ4 23: 205 bought or addedQ4 23: 261 cut or sold outQ4 23Q1 24: 230 bought or addedQ1 24: 229 cut or sold outQ2 24: 220 bought or addedQ2 24: 229 cut or sold outQ2 24Q3 24: 211 bought or addedQ3 24: 210 cut or sold outQ4 24: 208 bought or addedQ4 24: 231 cut or sold outQ4 24Q1 25: 269 bought or addedQ1 25: 204 cut or sold outQ2 25: 261 bought or addedQ2 25: 221 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023185226
Q4 2023205261
Q1 2024230229
Q2 2024220229
Q3 2024211210
Q4 2024208231
Q1 2025269204
Q2 2025261221

Calls vs puts

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

CallsPuts
$0$100m$200m$300mQ3 24 calls: $205.8mQ3 24 puts: $154.2mQ3 24P/C 0.75Q4 24 calls: $78.7mQ4 24 puts: $126.7mQ4 24P/C 1.61Q1 25 calls: $214.0mQ1 25 puts: $228.0mQ1 25P/C 1.07Q2 25 calls: $227.7mQ2 25 puts: $149.7mQ2 25P/C 0.66
Numbers
QuarterCallsPutsP/C
Q3 2024$205.8m$154.2m0.75
Q4 2024$78.7m$126.7m1.61
Q1 2025$214.0m$228.0m1.07
Q2 2025$227.7m$149.7m0.66

Biggest buyers

ROYAL BANK OF CANADA Added +3,155,369+3.2m
FMR LLC Added +1,109,317+1.1m
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Added +838,853+838.9k
NORGES BANK Added +633,672+633.7k
Capital Research Global Investors New +633,035+633.0k
PICTON MAHONEY ASSET MANAGEMENT New +493,035+493.0k
Scharf Investments, LLC New +478,933+478.9k
Invesco Ltd. Added +473,697+473.7k
GILDER GAGNON HOWE & CO LLC Added +320,656+320.7k
GOLDMAN SACHS GROUP INC Added +283,270+283.3k

Biggest sellers

PRICE T ROWE ASSOCIATES INC /MD/ Reduced -2,043,929-2.0m
VICTORY CAPITAL MANAGEMENT INC Reduced -705,430-705.4k
Orbis Allan Gray Ltd Reduced -506,855-506.9k
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Reduced -505,000-505.0k
MACKENZIE FINANCIAL CORP Reduced -413,529-413.5k
Alberta Investment Management Corp Reduced -374,071-374.1k
VAN ECK ASSOCIATES CORP Reduced -282,916-282.9k
UBS Group AG Reduced -269,896-269.9k
CITADEL ADVISORS LLC Reduced -243,542-243.5k
MILLENNIUM MANAGEMENT LLC Reduced -235,535-235.5k

Biggest calls

PEAK6 LLC Added $80.4m490.2k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $39.8m242.7k shares
CITADEL ADVISORS LLC Reduced $25.2m153.5k shares
SIG North Trading, ULC Reduced $10.8m66.1k shares
Walleye Trading LLC Added $10.1m61.5k shares
IMC-Chicago, LLC Reduced $9.6m58.7k shares
CITIGROUP INC New $7.3m44.8k shares
SIMPLEX TRADING, LLC Added $7.0m42.8k shares
GOLDMAN SACHS GROUP INC Unchanged $6.3m38.6k shares
NATIONAL BANK OF CANADA /FI/ Added $6.1m369 shares

Biggest puts

CITADEL ADVISORS LLC Reduced $37.0m225.5k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $22.1m135.1k shares
JANE STREET GROUP, LLC Added $21.7m132.3k shares
Twin Tree Management, LP Reduced $18.8m114.8k shares
SIG North Trading, ULC Reduced $12.9m78.4k shares
GOLDMAN SACHS GROUP INC Unchanged $6.3m38.6k shares
IMC-Chicago, LLC Reduced $5.4m32.7k shares
Walleye Capital LLC Added $4.5m27.2k shares
MILLENNIUM MANAGEMENT LLC Added $3.8m22.9k shares
Walleye Trading LLC Reduced $3.5m21.4k 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.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
FMR LLC 13G · institution +1.0 pts · filed 2026-05-06 11.2% +1.0 pts 21.6m≈ $4.5bn 2026-05-06
BlackRock, Inc. 13G · institution +1.1 pts · filed 2026-10-27 6.2% +1.1 pts 11.9m≈ $2.5bn 2026-10-27

Insider purchases and sales in Q2 2025

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 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 FMR LLC 0.12% of their portfolio BOSTON, MA 13,227,31513.2m $2.2bn $2.2bn 0.12% Added +1.1m +1,109,317
2 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.61% of their portfolio Boston, MA 11,702,41311.7m $1.9bn $1.9bn 0.61% Reduced -505.0k -505,000
3 FIL Ltd 1.25% of their portfolio HAMILTON, D0 8,919,4978.9m $1.5bn $1.5bn 1.25% Added +110.8k +110,835
4 VANGUARD GROUP INC 0.02% of their portfolio Valley Forge, PA 8,086,4208.1m $1.3bn $1.3bn 0.02% Added +241.1k +241,081
5 Capital World Investors 0.19% of their portfolio LOS ANGELES, CA 8,040,3808.0m $1.3bn $1.3bn 0.19% Added +31.5k +31,455
6 VAN ECK ASSOCIATES CORP 1.38% of their portfolio NEW YORK, NY 7,417,7507.4m $1.2bn $1.2bn 1.38% Reduced -282.9k -282,916
7 ROYAL BANK OF CANADA 0.10% of their portfolio TORONTO, A6 5,974,4626.0m $979.3m $979.3m 0.10% Added +3.2m +3,155,369
8 BANK OF MONTREAL /CAN/ 0.42% of their portfolio TORONTO, A6 5,107,5055.1m $839.1m $839.1m 0.42% Added +90.5k +90,477
9 EdgePoint Investment Group Inc. 4.42% of their portfolio TORONTO, A6 3,558,4613.6m $584.6m $584.6m 4.42% Reduced -139.5k -139,501
10 RENAISSANCE TECHNOLOGIES LLC 0.71% of their portfolio NEW YORK, NY 3,257,9493.3m $534.0m $534.0m 0.71% Added +227.4k +227,400
11 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.37% of their portfolio BOSTON, MA 3,220,0293.2m $528.3m $528.3m 0.37% Added +838.9k +838,853
12 First Eagle Investment Management, LLC 1.05% of their portfolio NEW YORK, NY 3,202,2373.2m $526.1m $526.1m 1.05% Reduced -17.0k -16,954
13 NORGES BANK 0.06% of their portfolio OSLO, Q8 2,801,3652.8m $460.2m $460.2m 0.06% Added +633.7k +633,672
14 JARISLOWSKY, FRASER Ltd 2.62% of their portfolio MONTREAL, A8 2,797,0102.8m $458.3m $458.3m 2.62% Reduced -67.8k -67,783
15 TD Asset Management Inc 0.28% of their portfolio Toronto, A6 2,011,7872.0m $329.6m $329.6m 0.28% Added +85.1k +85,117
16 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.28% of their portfolio Toronto, A6 1,900,5261.9m $310.6m $310.6m 0.28% Reduced -80.2k -80,246
17 VICTORY CAPITAL MANAGEMENT INC 0.19% of their portfolio San Antonio, TX 1,833,5051.8m $300.5m $300.5m 0.19% Reduced -705.4k -705,430
18 NATIONAL BANK OF CANADA /FI/ 0.30% of their portfolio MONTREAL, A8 1,705,0481.7m $278.2m $278.2m 0.30% Added +102.3k +102,264
19 Connor, Clark & Lunn Investment Management Ltd. 0.87% of their portfolio VANCOUVER, A1 1,510,7201.5m $248.2m $248.2m 0.87% Reduced -194.8k -194,769
20 GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio BOSTON, MA 1,500,2901.5m $247.1m $247.1m 0.02% Added +252.5k +252,540
21 PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio BALTIMORE, MD 1,477,3521.5m $242.2m $242.2m 0.03% Reduced -2.0m -2,043,929
22 Orbis Allan Gray Ltd 1.13% of their portfolio HamiltoN, D0 1,412,0971.4m $231.5m $231.5m 1.13% Reduced -506.9k -506,855
23 M&G PLC 1.26% of their portfolio London, X0 1,387,5171.4m $228.4m $228.4m 1.26% Reduced -123.1k -123,126
24 MACKENZIE FINANCIAL CORP 0.29% of their portfolio TORONTO ONTARIO, A6 1,342,8151.3m $220.6m $220.6m 0.29% Reduced -413.5k -413,529
25 Amundi 0.07% of their portfolio Paris, I0 1,211,8351.2m $199.3m $199.3m 0.07% Added +74.5k +74,490
26 CIBC WORLD MARKET INC. 0.43% of their portfolio TORONTO, A6 1,181,8891.2m $194.2m $194.2m 0.43% Reduced -149.0k -149,028
27 Beutel, Goodman & Co Ltd. 1.01% of their portfolio TORONTO, A6 1,081,1001.1m $177.1m $177.1m 1.01% Reduced -51.0k -51,012
28 HORIZON KINETICS ASSET MANAGEMENT LLC 2.03% of their portfolio NEW YORK, NY 1,043,5461.0m $171.1m $171.1m 2.03% Added +26.8k +26,772
29 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 1,037,4151.0m $170.1m $170.1m 0.01% Reduced -93.1k -93,146
30 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 1,033,7831.0m $169.5m $169.5m 0.01% Added +24.0k +24,014
31 GOLDMAN SACHS GROUP INC 0.03% of their portfolio NEW YORK, NY 1,027,7391.0m $168.5m $168.5m 0.03% Added +283.3k +283,270
32 TWO SIGMA ADVISERS, LP 0.34% of their portfolio NEW YORK, NY 1,011,8001.0m $165.9m $165.9m 0.34% Reduced -157.4k -157,400
33 1832 Asset Management L.P. 0.27% of their portfolio TORONTO, A6 955,738955.7k $156.7m $156.7m 0.27% Reduced -73.8k -73,813
34 Legal & General Group Plc 0.04% of their portfolio London, X0 930,718930.7k $152.5m $152.5m 0.04% Added +77.9k +77,945
35 CIBC Asset Management Inc 0.48% of their portfolio TORONTO, Z4 924,752924.8k $152.1m $152.1m 0.48% Reduced -190.8k -190,836
36 Invesco Ltd. 0.03% of their portfolio ATLANTA, GA 902,017902.0k $147.9m $147.9m 0.03% Added +473.7k +473,697
37 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 892,588892.6k $146.3m $146.3m 0.01% Added +46.2k +46,245
38 CANADA PENSION PLAN INVESTMENT BOARD 0.12% of their portfolio TORONTO ONTARIO, A6 881,093881.1k $144.7m $144.7m 0.12% Reduced -2.2k -2,200
39 DEUTSCHE BANK AG\ 0.04% of their portfolio FRANKFURT AM MAIN, 2M 708,016708.0k $116.1m $116.1m 0.04% Reduced -113.3k -113,314
40 Clearbridge Investments, LLC 0.09% of their portfolio NEW YORK, NY 683,899683.9k $112.1m $112.1m 0.09% Reduced -37.1k -37,123
41 Capital Research Global Investors 0.02% of their portfolio Los Angeles, CA 633,035633.0k $103.8m $103.8m 0.02% New
42 BANK OF NOVA SCOTIA 0.21% of their portfolio TORONTO, A6 624,850624.9k $102.6m $102.6m 0.21% Added +10.8k +10,775
43 TWO SIGMA INVESTMENTS, LP 0.18% of their portfolio NEW YORK, NY 621,142621.1k $101.8m $101.8m 0.18% Reduced -41.8k -41,791
44 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.58% of their portfolio VICTORIA, A1 610,478610.5k $100.3m $100.3m 0.58% Reduced -61.7k -61,670
45 Swiss National Bank 0.06% of their portfolio ZURICH, V8 585,360585.4k $95.7m $95.7m 0.06% Added +37.6k +37,600
46 Markel Group Inc. 0.79% of their portfolio Glen Allen, VA 569,500569.5k $93.4m $93.4m 0.79% Added +44.2k +44,250
47 CITADEL ADVISORS LLC 0.07% of their portfolio MIAMI, FL 521,938521.9k $85.6m $85.6m 0.07% Reduced -243.5k -243,542
48 PICTON MAHONEY ASSET MANAGEMENT 1.14% of their portfolio Toronto, A6 493,035493.0k $80.6m $80.6m 1.14% New
49 MILLENNIUM MANAGEMENT LLC 0.07% of their portfolio NEW YORK, NY 490,216490.2k $80.4m $80.4m 0.07% Reduced -235.5k -235,535
50 Scharf Investments, LLC 2.26% of their portfolio LOS GATOS, CA 478,933478.9k $78.5m $78.5m 2.26% New
51 Euro Pacific Asset Management, LLC 6.10% of their portfolio DORADO, PR 457,256457.3k $65.3m $65.3m 6.10% Added +230.5k +230,484
52 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 441,487441.5k $72.3m $72.3m 0.01% Added +13.9k +13,922
53 Chevy Chase Trust Holdings, LLC 0.20% of their portfolio BETHESDA, MD 424,451424.5k $69.6m $69.6m 0.20% Reduced -97.1k -97,089
54 TORONTO DOMINION BANK 0.15% of their portfolio TORONTO, ONTARIO, A6 413,008413.0k $67.8m $67.8m 0.15% Added +46.6k +46,628
55 Federation des caisses Desjardins du Quebec 0.28% of their portfolio LEVIS, A8 404,153404.2k $64.8m $64.8m 0.28% Reduced -11.0k -10,961
56 Fiera Capital Corp 0.21% of their portfolio MONTREAL, A8 377,608377.6k $62.0m $62.0m 0.21% Added +854 +854
57 Caisse de depot et placement du Quebec 0.13% of their portfolio Montreal, A8 368,044368.0k $60.3m $60.3m 0.13% Added +2.2k +2,232
58 GILDER GAGNON HOWE & CO LLC 0.61% of their portfolio New York, NY 350,236350.2k $57.4m $57.4m 0.61% Added +320.7k +320,656
59 BLI - Banque de Luxembourg Investments 1.63% of their portfolio LUXEMBOURG CITY, N4 347,395347.4k $57.0m $57.0m 1.63% Unchanged
60 Skerryvore Asset Management Ltd 45.46% of their portfolio EDINBURGH, X0 344,340344.3k $56.4m $56.4m 45.46% Reduced -31.0k -31,000
61 MUFG SECURITIES (CANADA), LTD. 1.63% of their portfolio NEW YORK, NY 326,430326.4k $53.5m $53.5m 1.63% Added +32.6k +32,649
62 Marathon Asset Management Ltd 1.71% of their portfolio London, X0 324,920324.9k $53.2m $53.2m 1.71% Reduced -26.8k -26,757
63 SPROTT INC. 2.55% of their portfolio TORONTO, A6 311,133311.1k $51.0m $51.0m 2.55% Added +75.1k +75,135
64 GABELLI FUNDS LLC 0.33% of their portfolio Rye, NY 287,223287.2k $47.1m $47.1m 0.33% Reduced -637 -637
65 GROUPAMA ASSET MANAGMENT 0.74% of their portfolio PARIS, I0 275,481275.5k $44.4m $44.4m 0.74% Added +55.1k +55,096
66 Carrhae Capital LLP 4.31% of their portfolio London, X0 274,946274.9k $45.1m $45.1m 4.31% Added +140.0k +139,952
67 DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio AUSTIN, TX 262,642262.6k $43.0m $43.0m 0.01% Added +1.7k +1,736
68 AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio KANSAS CITY, MO 262,447262.4k $43.0m $43.0m 0.02% Added +23.8k +23,761
69 TD Waterhouse Canada Inc. 0.30% of their portfolio TORONTO, A6 255,083255.1k $41.6m $41.6m 0.30% Added +4.2k +4,206
70 Allianz Asset Management GmbH 0.06% of their portfolio MUNICH, 2M 254,911254.9k $41.8m $41.8m 0.06% Reduced -3.7k -3,734
71 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 253,610253.6k $41.6m $41.6m 0.01% Added +155.0k +155,049
72 Aviso Financial Inc. 1.87% of their portfolio TORONTO, A6 253,237253.2k $41.6m $41.6m 1.87% Added +156.1k +156,096
73 Tidal Investments LLC 0.27% of their portfolio Milwaukee, WI 253,011253.0k $41.5m $41.5m 0.27% Added +2.4k +2,351
74 Covea Finance 1.51% of their portfolio PARIS, I0 248,358248.4k $40.6m $40.6m 1.51% Reduced -37.8k -37,812
75 QV Investors Inc. 3.96% of their portfolio CALGARY, A0 246,397246.4k $40.4m $40.4m 3.96% Added +1.7k +1,728
76 D. E. Shaw & Co., Inc. 0.04% of their portfolio New York, NY 237,471237.5k $39.0m $39.0m 0.04% Added +236.0k +236,001
77 St. James Investment Company, LLC 5.84% of their portfolio SOUTHLAKE, TX 220,876220.9k $36.2m $36.2m 5.84% Added +888 +888
78 BlackRock, Inc. 0.00% of their portfolio New York, NY 216,917216.9k $35.6m $35.6m 0.00% Reduced -5.0k -4,970
79 UBS Group AG 0.01% of their portfolio ZURICH, V8 211,452211.5k $34.7m $34.7m 0.01% Reduced -269.9k -269,896
80 Corient Private Wealth LP 0.05% of their portfolio MIAMI, FL 211,111211.1k $34.6m $34.6m 0.05% Reduced -4.6k -4,641
81 Nuveen, LLC 0.01% of their portfolio CHARLOTTE, NC 202,341202.3k $33.2m $33.2m 0.01% Reduced -208 -208
82 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio NEW YORK, NY 190,433190.4k $31.2m $31.2m 0.01% Reduced -63.2k -63,209
83 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 184,601184.6k $30.3m $30.3m 0.01% Added +8.8k +8,758
84 Annex Advisory Services, LLC 0.71% of their portfolio BROOKFIELD, WI 180,403180.4k $29.6m $29.6m 0.71% Reduced -2.7k -2,703
85 Cannell & Spears LLC 0.55% of their portfolio NEW YORK, NY 166,865166.9k $27.4m $27.4m 0.55% Added +3.0k +2,972
86 America First Investment Advisors, LLC 5.40% of their portfolio OMAHA, NE 165,073165.1k $27.1m $27.1m 5.40% Reduced -7.8k -7,754
87 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 162,240162.2k $26.6m $26.6m 0.00% Reduced -10.4k -10,435
88 SCOTIA CAPITAL INC. 0.12% of their portfolio TORONTO, A6 153,244153.2k $25.1m $25.1m 0.12% Added +8.4k +8,423
89 Northwest & Ethical Investments L.P. 0.62% of their portfolio TORONTO, A6 153,061153.1k $25.1m $25.1m 0.62% Added +15.4k +15,352
90 AVIVA PLC 0.05% of their portfolio LONDON, X0 143,886143.9k $23.6m $23.6m 0.05% Added +9.5k +9,465
91 PALISADE CAPITAL MANAGEMENT, LP 0.66% of their portfolio FORT LEE, NJ 142,812142.8k $23.4m $23.4m 0.66% Reduced -7.7k -7,661
92 Quadrature Capital Ltd 0.40% of their portfolio LONDON, X0 142,000142.0k $23.2m $23.2m 0.40% New
93 Baird Financial Group, Inc. 0.04% of their portfolio MILWAUKEE, WI 139,393139.4k $22.8m $22.8m 0.04% Added +2.0k +1,998
94 Alberta Investment Management Corp 0.18% of their portfolio EDMONTON, A0 138,600138.6k $22.8m $22.8m 0.18% Reduced -374.1k -374,071
95 ASHFORD CAPITAL MANAGEMENT INC 2.66% of their portfolio WILMINGTON, DE 138,078138.1k $22.6m $22.6m 2.66% Reduced -9.9k -9,886
96 CANADA LIFE ASSURANCE Co 0.03% of their portfolio WINNIPEG, A2 132,995133.0k $21.3m $21.3m 0.03% Reduced -5.4k -5,426
97 AXA S.A. 0.06% of their portfolio PARIS, I0 131,760131.8k $21.6m $21.6m 0.06% Added +4.0k +3,987
98 SCHWARTZ INVESTMENT COUNSEL INC 0.68% of their portfolio PLYMOUTH, MI 126,700126.7k $20.8m $20.8m 0.68% Added +2.5k +2,500
99 ADAGE CAPITAL PARTNERS GP, L.L.C. 0.03% of their portfolio Boston, MA 126,000126.0k $20.7m $20.7m 0.03% New
100 Addenda Capital Inc. 0.99% of their portfolio MONTREAL, A8 123,284123.3k $27.6m $27.6m 0.99% Added +116.7k +116,738