FRANCO NEV CORP FNV
COM · Common Stock · CUSIP 351858105 · ISIN CA3518581051
- SectorMaterials
- IndustryGold and Silver Ores
- HeadquartersToronto, Canada
- Founded2007
- Websitefranco-nevada.com
- FilingsSEC EDGAR
* 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
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 471 |
| Q4 2022 | 488 |
| Q1 2023 | 491 |
| Q2 2023 | 495 |
| Q3 2023 | 495 |
| Q4 2023 | 490 |
| Q1 2024 | 500 |
| Q2 2024 | 480 |
| Q3 2024 | 492 |
| Q4 2024 | 486 |
| Q1 2025 | 526 |
| Q2 2025 | 543 |
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 2023 | 185 | 226 |
| Q4 2023 | 205 | 261 |
| Q1 2024 | 230 | 229 |
| Q2 2024 | 220 | 229 |
| Q3 2024 | 211 | 210 |
| Q4 2024 | 208 | 231 |
| Q1 2025 | 269 | 204 |
| Q2 2025 | 261 | 221 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $205.8m | $154.2m | 0.75 |
| Q4 2024 | $78.7m | $126.7m | 1.61 |
| Q1 2025 | $214.0m | $228.0m | 1.07 |
| Q2 2025 | $227.7m | $149.7m | 0.66 |
Biggest buyers
| ROYAL BANK OF CANADA | Added | +3.2m |
| FMR LLC | Added | +1.1m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +838.9k |
| NORGES BANK | Added | +633.7k |
| Capital Research Global Investors | New | +633.0k |
| PICTON MAHONEY ASSET MANAGEMENT | New | +493.0k |
| Scharf Investments, LLC | New | +478.9k |
| Invesco Ltd. | Added | +473.7k |
| GILDER GAGNON HOWE & CO LLC | Added | +320.7k |
| GOLDMAN SACHS GROUP INC | Added | +283.3k |
Biggest sellers
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -2.0m |
| VICTORY CAPITAL MANAGEMENT INC | Reduced | -705.4k |
| Orbis Allan Gray Ltd | Reduced | -506.9k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -505.0k |
| MACKENZIE FINANCIAL CORP | Reduced | -413.5k |
| Alberta Investment Management Corp | Reduced | -374.1k |
| VAN ECK ASSOCIATES CORP | Reduced | -282.9k |
| UBS Group AG | Reduced | -269.9k |
| CITADEL ADVISORS LLC | Reduced | -243.5k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -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.
| Holder | Stake |
|---|---|
| FMR LLC 13G · institution +1.0 pts · filed 2026-05-06 | 11.2% |
| BlackRock, Inc. 13G · institution +1.1 pts · filed 2026-10-27 | 6.2% |
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
| Manager | Shares | Change |
|---|---|---|
| FMR LLC 0.12% of their portfolio | 13.2m $2.2bn | Added +1.1m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.61% of their portfolio | 11.7m $1.9bn | Reduced -505.0k |
| FIL Ltd 1.25% of their portfolio | 8.9m $1.5bn | Added +110.8k |
| VANGUARD GROUP INC 0.02% of their portfolio | 8.1m $1.3bn | Added +241.1k |
| Capital World Investors 0.19% of their portfolio | 8.0m $1.3bn | Added +31.5k |
| VAN ECK ASSOCIATES CORP 1.38% of their portfolio | 7.4m $1.2bn | Reduced -282.9k |
| ROYAL BANK OF CANADA 0.10% of their portfolio | 6.0m $979.3m | Added +3.2m |
| BANK OF MONTREAL /CAN/ 0.42% of their portfolio | 5.1m $839.1m | Added +90.5k |
| EdgePoint Investment Group Inc. 4.42% of their portfolio | 3.6m $584.6m | Reduced -139.5k |
| RENAISSANCE TECHNOLOGIES LLC 0.71% of their portfolio | 3.3m $534.0m | Added +227.4k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.37% of their portfolio | 3.2m $528.3m | Added +838.9k |
| First Eagle Investment Management, LLC 1.05% of their portfolio | 3.2m $526.1m | Reduced -17.0k |
| NORGES BANK 0.06% of their portfolio | 2.8m $460.2m | Added +633.7k |
| JARISLOWSKY, FRASER Ltd 2.62% of their portfolio | 2.8m $458.3m | Reduced -67.8k |
| TD Asset Management Inc 0.28% of their portfolio | 2.0m $329.6m | Added +85.1k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.28% of their portfolio | 1.9m $310.6m | Reduced -80.2k |
| VICTORY CAPITAL MANAGEMENT INC 0.19% of their portfolio | 1.8m $300.5m | Reduced -705.4k |
| NATIONAL BANK OF CANADA /FI/ 0.30% of their portfolio | 1.7m $278.2m | Added +102.3k |
| Connor, Clark & Lunn Investment Management Ltd. 0.87% of their portfolio | 1.5m $248.2m | Reduced -194.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 1.5m $247.1m | Added +252.5k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 1.5m $242.2m | Reduced -2.0m |
| Orbis Allan Gray Ltd 1.13% of their portfolio | 1.4m $231.5m | Reduced -506.9k |
| M&G PLC 1.26% of their portfolio | 1.4m $228.4m | Reduced -123.1k |
| MACKENZIE FINANCIAL CORP 0.29% of their portfolio | 1.3m $220.6m | Reduced -413.5k |
| Amundi 0.07% of their portfolio | 1.2m $199.3m | Added +74.5k |
| CIBC WORLD MARKET INC. 0.43% of their portfolio | 1.2m $194.2m | Reduced -149.0k |
| Beutel, Goodman & Co Ltd. 1.01% of their portfolio | 1.1m $177.1m | Reduced -51.0k |
| HORIZON KINETICS ASSET MANAGEMENT LLC 2.03% of their portfolio | 1.0m $171.1m | Added +26.8k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.0m $170.1m | Reduced -93.1k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 1.0m $169.5m | Added +24.0k |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 1.0m $168.5m | Added +283.3k |
| TWO SIGMA ADVISERS, LP 0.34% of their portfolio | 1.0m $165.9m | Reduced -157.4k |
| 1832 Asset Management L.P. 0.27% of their portfolio | 955.7k $156.7m | Reduced -73.8k |
| Legal & General Group Plc 0.04% of their portfolio | 930.7k $152.5m | Added +77.9k |
| CIBC Asset Management Inc 0.48% of their portfolio | 924.8k $152.1m | Reduced -190.8k |
| Invesco Ltd. 0.03% of their portfolio | 902.0k $147.9m | Added +473.7k |
| MORGAN STANLEY 0.01% of their portfolio | 892.6k $146.3m | Added +46.2k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.12% of their portfolio | 881.1k $144.7m | Reduced -2.2k |
| DEUTSCHE BANK AG\ 0.04% of their portfolio | 708.0k $116.1m | Reduced -113.3k |
| Clearbridge Investments, LLC 0.09% of their portfolio | 683.9k $112.1m | Reduced -37.1k |
| Capital Research Global Investors 0.02% of their portfolio | 633.0k $103.8m | New |
| BANK OF NOVA SCOTIA 0.21% of their portfolio | 624.9k $102.6m | Added +10.8k |
| TWO SIGMA INVESTMENTS, LP 0.18% of their portfolio | 621.1k $101.8m | Reduced -41.8k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.58% of their portfolio | 610.5k $100.3m | Reduced -61.7k |
| Swiss National Bank 0.06% of their portfolio | 585.4k $95.7m | Added +37.6k |
| Markel Group Inc. 0.79% of their portfolio | 569.5k $93.4m | Added +44.2k |
| CITADEL ADVISORS LLC 0.07% of their portfolio | 521.9k $85.6m | Reduced -243.5k |
| PICTON MAHONEY ASSET MANAGEMENT 1.14% of their portfolio | 493.0k $80.6m | New |
| MILLENNIUM MANAGEMENT LLC 0.07% of their portfolio | 490.2k $80.4m | Reduced -235.5k |
| Scharf Investments, LLC 2.26% of their portfolio | 478.9k $78.5m | New |
| Euro Pacific Asset Management, LLC 6.10% of their portfolio | 457.3k $65.3m | Added +230.5k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 441.5k $72.3m | Added +13.9k |
| Chevy Chase Trust Holdings, LLC 0.20% of their portfolio | 424.5k $69.6m | Reduced -97.1k |
| TORONTO DOMINION BANK 0.15% of their portfolio | 413.0k $67.8m | Added +46.6k |
| Federation des caisses Desjardins du Quebec 0.28% of their portfolio | 404.2k $64.8m | Reduced -11.0k |
| Fiera Capital Corp 0.21% of their portfolio | 377.6k $62.0m | Added +854 |
| Caisse de depot et placement du Quebec 0.13% of their portfolio | 368.0k $60.3m | Added +2.2k |
| GILDER GAGNON HOWE & CO LLC 0.61% of their portfolio | 350.2k $57.4m | Added +320.7k |
| BLI - Banque de Luxembourg Investments 1.63% of their portfolio | 347.4k $57.0m | Unchanged |
| Skerryvore Asset Management Ltd 45.46% of their portfolio | 344.3k $56.4m | Reduced -31.0k |
| MUFG SECURITIES (CANADA), LTD. 1.63% of their portfolio | 326.4k $53.5m | Added +32.6k |
| Marathon Asset Management Ltd 1.71% of their portfolio | 324.9k $53.2m | Reduced -26.8k |
| SPROTT INC. 2.55% of their portfolio | 311.1k $51.0m | Added +75.1k |
| GABELLI FUNDS LLC 0.33% of their portfolio | 287.2k $47.1m | Reduced -637 |
| GROUPAMA ASSET MANAGMENT 0.74% of their portfolio | 275.5k $44.4m | Added +55.1k |
| Carrhae Capital LLP 4.31% of their portfolio | 274.9k $45.1m | Added +140.0k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 262.6k $43.0m | Added +1.7k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 262.4k $43.0m | Added +23.8k |
| TD Waterhouse Canada Inc. 0.30% of their portfolio | 255.1k $41.6m | Added +4.2k |
| Allianz Asset Management GmbH 0.06% of their portfolio | 254.9k $41.8m | Reduced -3.7k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 253.6k $41.6m | Added +155.0k |
| Aviso Financial Inc. 1.87% of their portfolio | 253.2k $41.6m | Added +156.1k |
| Tidal Investments LLC 0.27% of their portfolio | 253.0k $41.5m | Added +2.4k |
| Covea Finance 1.51% of their portfolio | 248.4k $40.6m | Reduced -37.8k |
| QV Investors Inc. 3.96% of their portfolio | 246.4k $40.4m | Added +1.7k |
| D. E. Shaw & Co., Inc. 0.04% of their portfolio | 237.5k $39.0m | Added +236.0k |
| St. James Investment Company, LLC 5.84% of their portfolio | 220.9k $36.2m | Added +888 |
| BlackRock, Inc. 0.00% of their portfolio | 216.9k $35.6m | Reduced -5.0k |
| UBS Group AG 0.01% of their portfolio | 211.5k $34.7m | Reduced -269.9k |
| Corient Private Wealth LP 0.05% of their portfolio | 211.1k $34.6m | Reduced -4.6k |
| Nuveen, LLC 0.01% of their portfolio | 202.3k $33.2m | Reduced -208 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 190.4k $31.2m | Reduced -63.2k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 184.6k $30.3m | Added +8.8k |
| Annex Advisory Services, LLC 0.71% of their portfolio | 180.4k $29.6m | Reduced -2.7k |
| Cannell & Spears LLC 0.55% of their portfolio | 166.9k $27.4m | Added +3.0k |
| America First Investment Advisors, LLC 5.40% of their portfolio | 165.1k $27.1m | Reduced -7.8k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 162.2k $26.6m | Reduced -10.4k |
| SCOTIA CAPITAL INC. 0.12% of their portfolio | 153.2k $25.1m | Added +8.4k |
| Northwest & Ethical Investments L.P. 0.62% of their portfolio | 153.1k $25.1m | Added +15.4k |
| AVIVA PLC 0.05% of their portfolio | 143.9k $23.6m | Added +9.5k |
| PALISADE CAPITAL MANAGEMENT, LP 0.66% of their portfolio | 142.8k $23.4m | Reduced -7.7k |
| Quadrature Capital Ltd 0.40% of their portfolio | 142.0k $23.2m | New |
| Baird Financial Group, Inc. 0.04% of their portfolio | 139.4k $22.8m | Added +2.0k |
| Alberta Investment Management Corp 0.18% of their portfolio | 138.6k $22.8m | Reduced -374.1k |
| ASHFORD CAPITAL MANAGEMENT INC 2.66% of their portfolio | 138.1k $22.6m | Reduced -9.9k |
| CANADA LIFE ASSURANCE Co 0.03% of their portfolio | 133.0k $21.3m | Reduced -5.4k |
| AXA S.A. 0.06% of their portfolio | 131.8k $21.6m | Added +4.0k |
| SCHWARTZ INVESTMENT COUNSEL INC 0.68% of their portfolio | 126.7k $20.8m | Added +2.5k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.03% of their portfolio | 126.0k $20.7m | New |
| Addenda Capital Inc. 0.99% of their portfolio | 123.3k $27.6m | Added +116.7k |